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News release


First Potomac Realty Trust Selects JLL to Handle Leasing for 540 Gaither Road in Rockville, MD

First Potomac, JLL to Introduce Class A Opportunity in Shady Grove Submarket

WASHINGTON, NOV. 11, 2014 - JLL announced today that First Potomac Realty Trust has exclusively retained its agency leasing team for 540 Gaither Road, a six-story, 133,895-square-foot, Class A office building in Rockville, Maryland.

Managing Director Bernie McCarthy, Senior Vice President Amanda Davis and Vice President Danny Sheridan will manage this assignment on behalf of JLL.

"540 Gaither Road is the premier, Class A opportunity in the Shady Grove submarket," said McCarthy. "The property will undergo a repositioning that will deliver a modern, amenity-rich asset to a corridor that lacks any new construction."

540 Gaither Road offers efficient, column-free floor plates, generous ceiling heights and exterior signage opportunities. It is located at the intersection of Gaither Road and Redland Boulevard in Montgomery County's I-270 Corridor, nicknamed “DNA Alley" for the myriad of federal agencies and private biotechnology companies that maintain office space in the area.

Delivered in 2003 as the build-to-suit headquarters for the Agency for Healthcare Research and Quality (AHRQ), 540 Gaither Road is part of First Potomac Realty Trust’s 483,162-square-foot Redland Corporate Center, an amenity rich campus including hotels, restaurants, shops and entertainment.

AHRQ will depart 540 Gaither Road in the first quarter of 2017.
In addition to on-site amenities including two conference centers and a fitness center with towel service, Redland Corporate Center is adjacent to the King Farm development, which features more than 125,000 square feet of retail space and 2,000-plus housing units. First Potomac Realty Trust also offers shuttle service from the Redland Corporate Center to the Shady Grove Metro Station, which is less than one mile away.

Redland Corporate Center's proximity to I-270, I-355 and the MD 200 Inter-County Connector (ICC) provides easy access to additional amenity hubs in the immediate area including the Washingtonian Center, Crown Downtown, Fallsgrove Village Center and the Rockville Pike retail corridor. Surrounding office neighbors include biotech and government contracting companies.

"We look forward to working with First Potomac Realty Trust to introduce the largest contiguous available block of space in the Shady Grove submarket," added Davis. "The premium condition of this building and its strong, local ownership group make it an attractive asset for growing area businesses."

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit​