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  <TITLE> First Potomac Realty Trust (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	April 13, 2006
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  	First Potomac Realty Trust
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Maryland
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  	001-31824
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  	37-1470730
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	7600 Wisconsin Avenue, 11th Floor, Bethesda, Maryland
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  	20814
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  _________________________________<BR>
  	(Address of principal executive offices)
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	301-986-9200
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 1.01 Entry into a Material Definitive Agreement.
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  On April 13, 2006, the Compensation Committee of the Board of Trustees of First Potomac Realty Trust (the "Company") approved 2006 awards of restricted common shares for each of the Company&#x2019;s executive officers.  These awards are summarized in the following table:<br><br>Douglas J. Donatelli<br>President and Chief Executive Officer<br><br>Common Shares:<br>17,081<br><br>Nicholas R. Smith<br>Executive Vice President, Chief Investment Officer<br><br>Common Shares:<br>12,692<br><br>Barry H. Bass<br>Executive Vice President, Chief Financial Officer<br><br>Common Shares:<br>11,713<br><br>James H. Dawson<br>Executive Vice President, Chief Operating Officer<br><br>Common Shares:<br>11,713<br><br>Joel F. Bonder<br>Executive Vice President, General Counsel and Secretary<br><br>Common Shares:<br>6,600<br><br>Michael H. Comer<br>Senior Vice President, Chief Accounting Officer<br><br>Common Shares:<br>4,400<br><br><br>Timothy M. Zulick<br>Senior Vice President, Leasing<br><br>Common Shares:<br>3,850<br><br><br>Approximately 45% of the 2006 restricted common shares awarded to each of the executive officers listed above are subject to a restricted common share award agreement that provides for 100% vesting on January 1, 2010, provided that the respective executive officer remains employed with the Company on such date.  The remaining 55% of the 2006 restricted common share awards set forth above are subject to a separate restricted common share award agreement that provides for vesting based on the attainment of certain performance goals. Pursuant to this agreement, (i) 25% of the shares will vest on the day on which the total return to the Company&#x2019;s shareholders for the period commencing January 1, 2006 equals at least 40% for ten consecutive business days, provided, however, that such shares shall be forfeited if such condition is not satisfied prior to January 1, 2010; (ii) 25% of the shares will vest on the day on which the total return to the Company&#x2019;s shareholders for the period commencing January 1, 2006 equals at least 50% for ten consecutive business days, provided, however, that such shares shall be forfeited if such condition is not satisfied prior to January 1, 2011; (iii) 25% of the shares will vest on the day on which the total return to the Company&#x2019;s shareholders for the period commencing January 1, 2006 equals at least 65% for ten consecutive business days, provided, however, that such shares shall be forfeited if such condition is not satisfied prior to January 1, 2012; and (iv) the remaining 25% of the shares will vest on the day on which the total return to the Company&#x2019;s shareholders for the period commencing January 1, 2006 equals at least 80% for ten consecutive business days, provided, however that such shares shall be forfeited if such condition is not satisfied prior to January 1, 2013. Total shareholder return will include the appreciation in the price of the Company&#x2019;s common shares on the New York Stock Exchange plus any distributions made to its shareholders.  Pursuant to these agreements, the executive officers will have the right to vote and receive dividends on the outstanding unvested restricted common shares. <br><br>Trustee Restricted Common Share Awards:<br><br>On May, 26, 2006, our Board of Trustees approved 2006 awards of restricted common shares for each of the Company&#x2019;s non-employee trustees.  Each of the non-employee trustees was awarded 1,500 restricted common shares, other than our chairman, Louis T. Donatelli, who was awarded 3,000 restricted common shares.  The restricted common shares awarded to these trustees will vest (i) 25% on August 26, 2006, (ii) 25% on November 26, 2006, (iii) 25% on February 26, 2007, and (iv) 25% on May 26, 2007.<br><br>The form of restricted common share award agreement for officers and for trustees are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K and are incorporated by reference herein.  Each restricted common share award agreement entered into by officers and trustees is substantially similar to the form of restricted common share award agreement filed as Exhibit 10.1 and 10.2, respectively, other than vesting restrictions and amounts, which are described above.<br><br>
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  	Item 2.02 Results of Operations and Financial Condition.
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  On July 12, 2006 the Company issued a press release announcing certain preliminary financial results of the Company for the three months ended June 30, 2006. A copy of the press release is furnished herewith as Exhibit 99.1 to this report on Form 8-K and is incorporated herein by reference. <br>In accordance with General Instructions B.2 and B.6 of Form 8-K, the information included in Items 2.02 and 7.01 of this Current Report on Form 8-K (including Exhibit 99.1 hereto), shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Exchange Act or Securities Act of 1933, as amended, except as shall be expressly set fourth by specific reference in such a filing. <br>
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  	Item 7.01 Regulation FD Disclosure.
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  The disclosure contained in Item 2.02 is incorporated herein by reference.
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  	Item 9.01 Financial Statements and Exhibits.
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  (d)  Exhibits.<br><br>10.1  Form of Restricted Common Share Award Agreement for Officers.<br>10.2  Form of Restricted Common Share Award Agreement for Trustees.<br>99.1  Press release dated July 12, 2006.<br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	First Potomac Realty Trust
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  	&nbsp;&nbsp;
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  <I>
  	July 12, 2006
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  	/s/ Barry H. Bass
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  <I>
  	Name: Barry H. Bass
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  <I>
  	Title: Executive Vice President and Chief Financial Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	10.1
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  Form of Restricted Common Share Award Agreement for Officers.
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  Form of Restricted Common Share Award Agreement for Trustees.
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  	99.1
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  Press release dated July 12, 2006.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_13634.htm", "description": "LIVE FILING", "secsgml_size_bytes": 16167}]
metadata_filer: {"company-data": {"conformed-name": "FIRST POTOMAC REALTY TRUST", "cik": "0001254595", "assigned-sic": "6798", "irs-number": "371470730", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31824", "film-number": "06959185"}, "business-address": {"street1": "7600 WISCONSIN AVENUE", "street2": "11TH FLOOR", "city": "BETHESDA", "state": "MD", "zip": "20814", "phone": "3019869200"}, "mail-address": {"street1": "7600 WISCONSIN AVENUE", "street2": "11TH FLOOR", "city": "BETHESDA", "state": "MD", "zip": "20814"}}
text: First Potomac Realty Trust (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  April 13, 2006
  First Potomac Realty Trust
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Maryland
  001-31824
  37-1470730
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  7600 Wisconsin Avenue, 11th Floor, Bethesda, Maryland
  20814
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  301-986-9200
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On April 13, 2006, the Compensation Committee of the Board of Trustees of First Potomac Realty Trust (the "Company") approved 2006 awards of restricted common shares for each of the Company's executive officers.  These awards are summarized in the following table:
  Douglas J. Donatelli
  President and Chief Executive Officer
  Common Shares:
  17,081
  Nicholas R. Smith
  Executive Vice President, Chief Investment Officer
  Common Shares:
  12,692
  Barry H. Bass
  Executive Vice President, Chief Financial Officer
  Common Shares:
  11,713
  James H. Dawson
  Executive Vice President, Chief Operating Officer
  Common Shares:
  11,713
  Joel F. Bonder
  Executive Vice President, General Counsel and Secretary
  Common Shares:
  6,600
  Michael H. Comer
  Senior Vice President, Chief Accounting Officer
  Common Shares:
  4,400
  Timothy M. Zulick
  Senior Vice President, Leasing
  Common Shares:
  3,850
  Approximately 45% of the 2006 restricted common shares awarded to each of the executive officers listed above are subject to a restricted common share award agreement that provides for 100% vesting on January 1, 2010, provided that the respective executive officer remains employed with the Company on such date.  The remaining 55% of the 2006 restricted common share awards set forth above are subject to a separate restricted common share award agreement that provides for vesting based on the attainment of certain performance goals. Pursuant to this agreement, (i) 25% of the shares will vest on the day on which the total return to the Company's shareholders for the period commencing January 1, 2006 equals at least 40% for ten consecutive business days, provided, however, that such shares shall be forfeited if such condition is not satisfied prior to January 1, 2010; (ii) 25% of the shares will vest on the day on which the total return to the Company's shareholders for the period commencing January 1, 2006 equals at least 50% for ten consecutive business days, provided, however, that such shares shall be forfeited if such condition is not satisfied prior to January 1, 2011; (iii) 25% of the shares will vest on the day on which the total return to the Company's shareholders for the period commencing January 1, 2006 equals at least 65% for ten consecutive business days, provided, however, that such shares shall be forfeited if such condition is not satisfied prior to January 1, 2012; and (iv) the remaining 25% of the shares will vest on the day on which the total return to the Company's shareholders for the period commencing January 1, 2006 equals at least 80% for ten consecutive business days, provided, however that such shares shall be forfeited if such condition is not satisfied prior to January 1, 2013. Total shareholder return will include the appreciation in the price of the Company's common shares on the New York Stock Exchange plus any distributions made to its shareholders.  Pursuant to these agreements, the executive officers will have the right to vote and receive dividends on the outstanding unvested restricted common shares.
  Trustee Restricted Common Share Awards:
  On May, 26, 2006, our Board of Trustees approved 2006 awards of restricted common shares for each of the Company's non-employee trustees.  Each of the non-employee trustees was awarded 1,500 restricted common shares, other than our chairman, Louis T. Donatelli, who was awarded 3,000 restricted common shares.  The restricted common shares awarded to these trustees will vest (i) 25% on August 26, 2006, (ii) 25% on November 26, 2006, (iii) 25% on February 26, 2007, and (iv) 25% on May 26, 2007.
  The form of restricted common share award agreement for officers and for trustees are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K and are incorporated by reference herein.  Each restricted common share award agreement entered into by officers and trustees is substantially similar to the form of restricted common share award agreement filed as Exhibit 10.1 and 10.2, respectively, other than vesting restrictions and amounts, which are described above.
  Item 2.02 Results of Operations and Financial Condition.
  On July 12, 2006 the Company issued a press release announcing certain preliminary financial results of the Company for the three months ended June 30, 2006. A copy of the press release is furnished herewith as Exhibit 99.1 to this report on Form 8-K and is incorporated herein by reference.
  In accordance with General Instructions B.2 and B.6 of Form 8-K, the information included in Items 2.02 and 7.01 of this Current Report on Form 8-K (including Exhibit 99.1 hereto), shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Exchange Act or Securities Act of 1933, as amended, except as shall be expressly set fourth by specific reference in such a filing.
  Item 7.01 Regulation FD Disclosure.
  The disclosure contained in Item 2.02 is incorporated herein by reference.
  Item 9.01 Financial Statements and Exhibits.
  (d)  Exhibits.
  10.1  Form of Restricted Common Share Award Agreement for Officers.
  10.2  Form of Restricted Common Share Award Agreement for Trustees.
  99.1  Press release dated July 12, 2006.
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  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  First Potomac Realty Trust
  July 12, 2006
  By:
  /s/ Barry H. Bass
  Name: Barry H. Bass
  Title: Executive Vice President and Chief Financial Officer
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  Exhibit Index
  Exhibit No.
  Description
  10.1
  Form of Restricted Common Share Award Agreement for Officers.
  10.2
  Form of Restricted Common Share Award Agreement for Trustees.
  99.1
  Press release dated July 12, 2006.