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<DIV align="right" style="font-size: 10pt; margin-top: 12pt; margin-bottom: 3pt"><B>Registration Statement No.&nbsp;333-</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</DIV>


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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>First Potomac Realty Trust</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Maryland</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>37-1470730</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>7600 Wisconsin Avenue, 11<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Floor<BR>
Bethesda, Maryland 20814</B><BR>
(Address of principal executive offices including zip code)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>First Potomac Realty Trust 2009 Equity Compensation Plan</B><BR>
(Full title of the plan)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Joel F. Bonder<BR>
Executive Vice President and General Counsel<BR>
First Potomac Realty Trust<BR>
7600 Wisconsin Avenue, 11<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Floor<BR>
Bethesda, Maryland 20814<BR>
(301)&nbsp;986-9200</B><BR>
(Name and address, including zip code, and telephone number, including area code, of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><I>Copy to:</I></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Edward W. Elmore, Jr.<BR>
Hunton &#038; Williams LLP<BR>
Riverfront Plaza, East Tower<BR>
951 East Byrd Street<BR>
Richmond, Virginia 23219<BR>
(804)&nbsp;788-7336</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large accelerated
filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the Exchange Act.
</DIV>


<TABLE width="100%" style="font-size: 10pt; margin-top: 6pt">
<TR valign="top">
<TD>Large Accelerated Filer&nbsp;<FONT face="Wingdings">&#111;</FONT></TD>
<TD align="center">Accelerated Filer&nbsp;<FONT face="Wingdings">&#254;</FONT>&nbsp;</TD>
<TD align="center">Non-Accelerated Filer&nbsp;<FONT face="Wingdings">&#111;</FONT><BR>(Do not check if smaller reporting company)</TD>
<TD align="right">Smaller reporting company&nbsp;<FONT face="Wingdings">&#111;</FONT></TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CALCULATION OF REGISTRATION FEE</B></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 1pt">
    <TD width="1%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of securities</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>aggregate</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>to be registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registered</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)(2)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>per share</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(3)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(3)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registration fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Common shares of
beneficial
interest, $0.001
par value per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-top: 2px solid #000000" nowrap>650,000 shares</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">9.91</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">6,441,500</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">360</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>



<DIV style="margin-top: 3pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;),
this registration statement shall also cover an indeterminate number of additional common
shares of beneficial interest (&#147;common shares&#148;) that become issuable under the First Potomac
Realty Trust 2009 Equity Compensation Plan (the &#147;Plan&#148;) by reason of any stock dividend, stock
split, recapitalization, or other similar transaction effected without the receipt of
consideration which results in an increase in the number of the Registrant&#146;s outstanding
common shares.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 335,262 restricted common shares issued by the Registrant on May&nbsp;21, 2009 pursuant
to the Plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of computing the registration fee. In accordance with Rules
457(c) and 457(h) under the Securities Act, the maximum offering price per share and maximum
aggregate offering price shown are based upon the average of the high and low sales prices reported
for the Registrant&#146;s common shares on the New York Stock Exchange on August&nbsp;11, 2009, which was
$9.91 per share.</TD>
</TR>

</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXPLANATORY NOTE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Potomac Realty Trust has prepared this registration statement (this &#147;Registration
Statement&#148;) in accordance with the requirements of Form S-8 under the Securities Act of 1933, as
amended, or Securities Act, to register up to an aggregate of 650,000 common shares of beneficial
interest, $0.001 par value per share, or common shares, under its 2009 Equity Compensation Plan
(the &#147;2009 Plan&#148;). This Registration Statement also includes a reoffer prospectus that has been
prepared in accordance with Instruction C of Form S-8 and the requirements of Part&nbsp;I of Form S-3
under the Securities Act. The reoffer prospectus may be used for reoffers and resales on a
continuous or delayed basis in the future of up to an aggregate of 335,262 common shares, which may
constitute &#147;control securities&#148; and/or &#147;restricted securities&#148; which were issued pursuant to the
2009 Plan on May&nbsp;21, 2009 to each of the selling shareholders listed under the caption &#147;Selling
Shareholders&#148; below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The reoffer prospectus does not contain all of the information included in this Registration
Statement, certain items of which are contained in schedules and exhibits to this Registration
Statement, as permitted by the rules and regulations of the Securities and Exchange Commission.
Statements contained in this reoffer prospectus as to the contents of any agreement, instrument or
other document referred to are not necessarily complete. With respect to each such agreement,
instrument or other document filed as an exhibit to this Registration Statement, we refer you to
the exhibit for a more complete description of the matter involved, and each such statement shall
be deemed qualified in its entirety by this reference.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless the context otherwise requires, &#147;us,&#148; &#147;we,&#148; &#147;our&#148; or words of similar import, refer to
First Potomac Realty Trust and its subsidiaries.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">REOFFER PROSPECTUS
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">335,262 COMMON SHARES OF BENEFICIAL INTEREST

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">FIRST POTOMAC REALTY TRUST<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This reoffer prospectus relates to an aggregate of up to 335,262 of our common shares of
beneficial interest, $.001 par value per share, or common shares, that may be offered and resold
from time to time by the selling shareholders identified in this reoffer prospectus for their own
accounts. The shares described in this reoffer prospectus were issued pursuant to our 2009 Equity
Compensation Plan prior to the time at which the registration statement, of which this reoffer
prospectus is a part, became effective with the Securities and Exchange Commission, or SEC. This
reoffer prospectus has been prepared for the purpose of registering the shares under the Securities
Act of 1933, as amended, or the Securities Act, to allow for future sales by the selling
shareholders, on a continuous or delayed basis, to the public without restriction. All of the
selling shareholders are current, trustees, officers or employees of our company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling shareholders may sell their common shares from time to time in one or more
transactions on the New York Stock Exchange, or NYSE, or on any stock exchange on which our common
shares may be listed at the time of sale, in privately negotiated transactions, or through a
combination of such methods, at market prices prevailing at the time of sale, at prices related to
such prevailing market prices, at fixed prices (which may be changed) or at negotiated prices. We
will receive no part of the proceeds from sales made under this reoffer prospectus. The selling
shareholders will bear all sales commissions and similar expenses. Any other expenses incurred by
us in connection with the registration and offering not borne by the selling shareholders will be
borne by us.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling shareholders and any brokers executing selling orders on their behalf may be
deemed to be &#147;underwriters&#148; within the meaning of the Securities Act, in which event commissions
received by such brokers may be deemed to be underwriting commissions under the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
common shares are listed on the NYSE under the symbol &#147;FPO.&#148; On August&nbsp;14, 2009, the last
reported price of our common shares on such market was $10.40 per share. Our principal offices are
located at 7600 Wisconsin Avenue, 11<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Floor, Bethesda, Maryland 20814.
</DIV>
<DIV align="center" style="font-size: 10pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Investing in our common shares involves risks. See &#147;Risk Factors&#148; beginning on page 10 of our
Annual Report on </B><B>Form 10-K</B><B> for the year ended December&nbsp;31, 2008, page 42 of our Quarterly Report on
Form&nbsp;10-Q for the quarter ended March&nbsp;31, 2009, and page 42 of our Quarterly Report on Form&nbsp;10-Q
for the quarter ended June&nbsp;30, 2009, each of which is incorporated herein by reference, for certain
risk factors relevant to an investment in our common shares.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Neither the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or determined if this prospectus is truthful or
complete. Any representation to the contrary is a criminal offense.</B>
</DIV>
<DIV align="center" style="font-size: 10pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt">The
date of this prospectus is August&nbsp;17, 2009.
</DIV>


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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TABLE OF CONTENTS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Page</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Our Company</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Special Note Regarding Forward-Looking Statements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Risk Factors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Use of Proceeds</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling Shareholders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Plan of Distribution</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Incorporation of Certain Information by Reference</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Where You Can Find More Information</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Legal Matters</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Experts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>You should rely only on the information contained in this document or to which we have
referred you. Neither we nor the selling shareholders have authorized anyone to provide you with
different or additional information. This document may only be used where it is legal to sell
these securities. The information in this document may only be accurate on the date of this
document. You should not assume that the information in the prospectus, or incorporated herein by
reference, or in any prospectus supplement is accurate as of any date other than the date on the
front of those documents.</B>
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>OUR COMPANY</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are a self-managed, self-administered real estate investment trust, or REIT, that focuses
on owning, developing, redeveloping and operating industrial properties and business parks in the
Washington, D.C. metropolitan area and other major markets in Virginia and Maryland. As of June
30, 2009, our portfolio totaled approximately 12&nbsp;million square feet and our properties were 86.5%
occupied by 594 tenants. Our largest tenant is the U.S. Government. We derive substantially all
of our revenue from leases of space within our properties. We have elected to be taxed as a REIT
under the Internal Revenue Code of 1986, as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We seek to acquire or redevelop properties that can benefit from active property management to
increase their profitability and value. Our portfolio primarily contains a mix of single-tenant
and multi-tenant industrial properties and business parks. Industrial properties generally are
used as warehouse, distribution and manufacturing facilities, while business parks combine office
building features with industrial property space.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We own our properties and conduct substantially all of our operations through our operating
partnership, First Potomac Realty Investment Limited Partnership. As the sole general partner of
our operating partnership, we have the power to manage and conduct our operating partnership&#146;s
business, subject to certain limitations described in the partnership agreement of our operating
partnership. As of June&nbsp;30, 2009, we owned a 97.3% interest in our operating partnership. The
remaining interests in the operating partnership are owned by limited partners, including certain
of our executive officers and trustees, who contributed properties and other assets to our
operating partnership in exchange for limited partnership units.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our executive offices are located at 7600 Wisconsin Avenue, 11<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Floor, Bethesda,
Maryland 20814, and our telephone number is (301)&nbsp;986-9200. We maintain a website at
<I>http://www.first-potomac.com</I>. The information on our website does not constitute a part of this
reoffer prospectus.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This reoffer prospectus includes and incorporates by reference forward-looking statements that
are subject to risks and uncertainties. These forward-looking statements are made in accordance
with Section&nbsp;27A of the Securities Act and Section&nbsp;21E of the Securities Exchange Act of 1934, as
amended, or the Exchange Act, and include information about possible or assumed future results of
our business, financial condition, liquidity, results of operations, plans and objectives.
Statements regarding the following subjects are forward-looking by their nature:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our business strategy;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our projected operating results;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our ability to obtain future financing arrangements;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>estimates relating to our ability to make distributions to our shareholders in
the future;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our understanding of our competition;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>market trends;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>pending acquisitions of properties; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>projected capital expenditures.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The forward-looking statements are based on our beliefs, assumptions and expectations of our
future performance. These beliefs, assumptions and expectations can change as a result of many
possible events or factors, not all of which are known to us. If a change occurs, our business,
financial condition, liquidity and results of operations may vary materially from those expressed
in our forward-looking statements. You should carefully consider these risks before you make an
investment decision with respect to our common shares, along with the following factors that could
cause actual results to vary from our forward-looking statements:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the factors referenced below in this reoffer prospectus under the section
captioned &#147;Risk Factors&#148;;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>general volatility of the capital markets and the market price of our common
shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>changes in our business strategy;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>availability, terms and deployment of capital;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>availability of qualified personnel;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>changes in our industry, interest rates or the general economy;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the degree and nature of our competition;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>defaults in the performance of lease terms by our tenants;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the financial condition of our tenants, including the extent of tenant
bankruptcies or defaults;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>risk of our tenants not renewing their leases;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the concentration of leases with our single largest tenant, the U.S. Government;</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our continued qualification as a REIT;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>risks relating to real estate ownership and development; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>risks associated with use of leverage to acquire properties.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When we use the words &#147;believe,&#148; &#147;expect,&#148; &#147;anticipate,&#148; &#147;estimate&#148; or similar expressions, we
intend to identify forward-looking statements. You should not place undue reliance on these
forward-looking statements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There are a number of risk factors associated with the conduct of our business, and the risks
listed above or discussed in the section entitled &#147;Risk Factors&#148; on page 4 of this reoffer
prospectus, on page 10 of our Annual Report on Form 10-K for the year ended December&nbsp;31, 2008, on
page 42 of our Quarterly Report on Form 10-Q for the quarter ended March&nbsp;31, 2009, on page 42 of
our Quarterly Report on Form 10-Q for the quarter ended June&nbsp;30, 2009 and in the documents
incorporated by reference may not be exhaustive. New risks and uncertainties arise from time to
time, and it is impossible for us to predict these events or how they may affect us. All
forward-looking statements should be reviewed with caution. Except to the extent required by
applicable law, we undertake no obligation to, and do not intend to, update any forward-looking
statements, the factors listed above or the matters discussed or referenced below in the section
entitled &#147;Risk Factors,&#148; or to publicly announce the results of any revisions to any of the
forward-looking statements contained herein to reflect future events or developments.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>RISK FACTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investing in our company involves various risks, including the risk that you might lose your
entire investment. Any one of the risk factors discussed, or other factors, could cause actual
results to differ materially from expectations and could adversely affect our profitability. These
risks are interrelated, and you should treat them as a whole. These risks described are not the
only risks that may affect us. Additional risks and uncertainties not presently known to us or not
identified, may also materially and adversely affect our business, financial condition, results of
operations and ability to make distributions to our shareholders. Before making an investment
decision, you should carefully consider all of the risks described in &#147;Item&nbsp;1A. Risk Factors&#148; of
our Annual Report on Form 10-K for the fiscal year ended December&nbsp;31, 2008, our Quarterly Report on
Form 10-Q for the quarter ended March&nbsp;31, 2009 and our Quarterly Report on Form 10-Q for the
quarter ended June&nbsp;30, 2009 and any risk factors included in our subsequent SEC filings
incorporated by reference herein, in addition to the other information contained or incorporated by
reference in this reoffer prospectus. In connection with the forward-looking statements that appear
in this reoffer prospectus, you should also carefully review the cautionary statements referred to
in &#147;Special Note Regarding Forward-Looking Statements&#148; on page 2 of this reoffer prospectus.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>USE OF PROCEEDS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will not receive any proceeds from the sale of shares of our common shares by the selling
shareholders.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SELLING SHAREHOLDERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This reoffer prospectus relates to the reoffer or resale of common shares of our company that
were acquired by the selling shareholders pursuant to the grant of restricted share awards under
our 2009 Equity Compensation Plan. Each selling stockholder will receive all of the net proceeds
from the sale of his or her shares covered by this reoffer prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table identifies the selling shareholders and sets forth (i)&nbsp;the number of
common shares outstanding that are beneficially owned by such selling shareholder prior to the date
of this offering and as of the date of this reoffer prospectus, (ii)&nbsp;the number of shares that may
be offered by such selling shareholder under this reoffer prospectus and (iii)&nbsp;the number of shares
that will be owned by such selling shareholder and the percentage of common shares outstanding that
such shares will represent assuming the sale of all of the shares upon completion of this offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Because the selling shareholders may sell all, some or none of the shares that they hold and
because the number of shares outstanding may increase or decrease, we have estimated the amounts
and percentages of shares that the selling shareholders will hold after completion of this offering
by assuming that (i)&nbsp;the beneficial shareholders will not acquire the beneficial ownership of any
additional shares, (ii)&nbsp;the selling shareholders will dispose of only shares offered under this
reoffer prospectus prior to completion of this offering, and (iii)&nbsp;the selling shareholders will
sell all of the shares offered by this reoffer prospectus.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Percentage of Shares</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Beneficially Owned</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Beneficially Owned</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Beneficially Owned</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Selling Shareholder</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Prior to Offering(1)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Being Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Following Offering(1)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Following Offering(2)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Douglas J. Donatelli (3)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">550,658</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">75,582</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">475,076</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.7</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Nicholas R. Smith (4)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">322,780</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">52,326</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">270,454</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.0</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Barry H. Bass (5)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">236,504</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">49,419</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">187,085</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">James H. Dawson (6)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">223,893</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">49,419</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">174,474</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Joel F. Bonder (7)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">135,140</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">34,884</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">100,256</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Michael H. Comer (8)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">73,461</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">14,535</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">58,926</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Timothy M. Zulick (9)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">51,350</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,721</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">42,629</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Tony Beck (10)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">13,244</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,814</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,430</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Mary Wacker (10)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">14,119</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,814</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,305</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Matt Wilson (10)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">16,056</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,814</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,242</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">John Sadlik (10)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">13,376</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,814</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,562</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert H. Arnold (11)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">22,968</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,520</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">18,448</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Richard B. Chess (11)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">14,520</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,520</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">J. Roderick Heller, III (11)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">22,520</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,520</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">18,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">R. Michael McCullough (11)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">18,011</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,520</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">13,491</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Alan G. Merten (11)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11,487</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,520</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,967</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Terry L. Stevens (11)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15,200</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,520</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,680</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">*</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Less than 1%</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Pursuant to the rules of the SEC, any common shares of our company for which a person has
the right to acquire within 60&nbsp;days after August&nbsp;13, 2009 pursuant to the exercise of stock
options or any other right are deemed to be outstanding for the purpose of computing the
percentage ownership of such person but are not deemed outstanding for the purpose of
computing the percentage ownership of any other person.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>The percentage of beneficial ownership shown in the table is based on 28,643,090 common
shares of beneficial interest issued and outstanding as of August&nbsp;7, 2009.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Donatelli is a founder of our company and has served as the chairman of our board of
directors since May&nbsp;2008 and chief executive officer and trustee of our company since our
predecessor&#146;s founding in 1997. Mr.&nbsp;Donatelli is a cousin of Mr.&nbsp;Smith.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">





<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Smith is a founder of our company and has served as executive vice president and chief
investment officer since the founding of our predecessor in 1997. Mr.&nbsp;Smith is a cousin of
Mr.&nbsp;Donatelli.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Bass has served as senior vice president and chief financial officer since joining our
predecessor in June&nbsp;2002 and was appointed executive vice president in February&nbsp;2005.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Dawson has served as senior vice president and chief operating officer since 1998 and was
elected executive vice president in February&nbsp;2005.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(7)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Bonder has served as executive vice president, general counsel and secretary since
January&nbsp;2005.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(8)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Comer has served as our vice president and chief accounting officer since August&nbsp;2003 and
was appointed senior vice president in February&nbsp;2005.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(9)</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Zulick has served as our senior vice president, leasing since August&nbsp;2004.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(10)</TD>
    <TD>&nbsp;</TD>
    <TD>Each individual is a current employee of First Potomac Management LLC and has been
employed by us as follows: Mr.&nbsp;Beck (since October&nbsp;2006); Ms.&nbsp;Wacker (since February&nbsp;2005);
Mr.&nbsp;Wilson (since March&nbsp;2007); and Mr.&nbsp;Sadlik (since July&nbsp;2005).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(11)</TD>
    <TD>&nbsp;</TD>
    <TD>Each individual has served as a non-employee trustee of our company since our initial public
offering in October&nbsp;2003, except for Dr.&nbsp;Merten, who joined our board of trustees in October
2005.</TD>
</TR>

</TABLE>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PLAN OF DISTRIBUTION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This reoffer prospectus covers the resale of our common shares by the selling shareholders
named in this reoffer prospectus and their pledgees, donees, assignees and other successors in
interest. The common shares offered by the selling shareholders have been issued to them by us
pursuant to our 2009 Equity Compensation Plan. These common shares have been issued to the selling
shareholders pursuant to an exemption from the registration provisions of the Securities Act. We
are registering the common shares to which this prospectus relates to provide the holders thereof
with freely tradable securities, but registration of these shares does not necessarily mean that
any of these shares will be offered or sold by the selling shareholders. The selling shareholders
may sell their common shares from time to time in one or more transactions on the NYSE or on any
stock exchange on which our common shares may be listed at the time of sale, in privately
negotiated transactions, or through a combination of such methods, at market prices prevailing at
the time of sale, at prices related to such prevailing market prices, at fixed prices (which may be
changed) or at negotiated prices. The selling shareholders may use the following methods when
selling common shares:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ordinary brokerage transactions and transactions in which the broker dealer solicits
purchasers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>block trades in which the broker dealer will attempt to sell the shares as agent but
may position and resell a portion of the block as principal to facilitate the
transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>purchases by a broker dealer as principal and resale by the broker dealer for its
account;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an exchange distribution in accordance with the rules of the applicable exchange;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>privately negotiated transactions;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>broker dealers may agree with the selling shareholders to sell a specified number of
such shares at a stipulated price per share;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a combination of any such methods of sale; and</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any other method permitted pursuant to applicable law.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling shareholders may engage in short sales of the common shares and deliver common
shares to close out their short positions. The selling shareholders may also enter into put or call
options or other transactions with broker-dealers or others which require delivery to those persons
of common shares covered by this reoffer prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokers, dealers or other agents participating in the distribution of the common shares may
receive compensation in the form of discounts or commissions from the selling shareholders, as well
as the purchaser if they act as agent for the purchaser. The discount or commission in a particular
transaction could be more than the customary amount. We know of no existing arrangements between
the selling shareholders and any underwriter, broker, dealer or agent relating to the sale or
distribution of the common shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling shareholders and any brokers or dealers that participate in the sale of the common
shares may be deemed to be &#147;underwriters&#148; within the meaning of the Securities Act. It is the
position of the SEC that a registered broker-dealer that is a selling shareholder is presumed to be
an underwriter. Any discounts, commissions or other compensation received by these persons and any
profit on the resale of the common shares by them as principals might be deemed to be underwriters&#146;
compensation. The selling shareholders may agree to indemnify any broker, dealer or agent that
participates in the sale of the common shares against various liabilities, including liabilities
under the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the time a particular offer of common shares is made by a selling shareholder, to the
extent required, we will file a supplement to this reoffer prospectus which identifies the number
of common shares being offered, the name of the selling shareholders, the name of any participating
broker or dealer, the amount of discounts and commissions, and any other material information.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling shareholders and any other person participating in a distribution will be subject
to the applicable provisions of the Exchange Act and its rules and regulations. For example, the
anti-manipulative provisions of Regulation&nbsp;M may limit the ability of the selling shareholders or
others to engage in stabilizing and other market making activities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This offering will terminate upon the earlier of:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the date that all of the common shares under this prospectus may be sold in
accordance with Rule&nbsp;144 under the Securities Act; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the date on which all shares offered hereby have been sold by the selling
shareholders.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling shareholders may from time to time pledge or grant a security interest in some or
all of the shares of beneficial interest owned by them and, if they default in the performance of
their secured obligations, the pledgees or secured parties may offer and sell the shares of
beneficial interest from time to time under this reoffer prospectus or other applicable provision
of the Securities Act. The selling shareholders also may transfer the shares in other
circumstances, in which case the transferees, pledgees or other successors in interest will be the
selling beneficial owners for purposes of this reoffer prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will not receive any of the proceeds from the sale of the common shares by the selling
shareholders. The selling shareholders will bear all sales commissions and similar expenses. Any
other expenses incurred by us in connection with the registration and offering not borne by the
selling shareholders will be borne by us.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In order to comply with some states&#146; securities laws, if applicable, the common shares will be
sold in those states only through registered or licensed brokers or dealers. In addition, in some
states the common shares may not be sold unless they have been registered or qualified for sale or
an exemption from registration or qualification is available and is satisfied.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INCORPORATION OF INFORMATION FILED WITH THE SEC</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The SEC allows us to &#147;incorporate by reference&#148; into this reoffer prospectus the information
we file with the SEC, which means that we can disclose important business, financial and other
information to you by referring you to other documents separately filed with the SEC. All
information incorporated by reference is part of this reoffer prospectus. Any statement contained
in a document which is incorporated by reference in this reoffer prospectus is automatically
updated and superseded if information contained in this reoffer prospectus or information we later
file with the SEC modifies or replaces that information.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We incorporate by reference the documents listed below and any future filings we make with the
SEC under Sections&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act, unless specifically stated
otherwise, prior to completion of the offering of common shares described in this reoffer
prospectus.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2008,
filed with the SEC on March&nbsp;9, 2009.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Quarterly Report on Form 10-Q for the three months ended March&nbsp;31,
2009, filed with the SEC on May&nbsp;8, 2009.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Quarterly Report on Form 10-Q for the three months ended June&nbsp;30,
2009, filed with the SEC on August&nbsp;7, 2009.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Current Reports on Form 8-K filed with the SEC on January&nbsp;30, 2009,
May&nbsp;27, 2009 and June&nbsp;3, 2009.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Company&#146;s common shares set forth under the caption
&#147;Description of Capital Shares&#148; in the Registration Statement on Form S-3 (File No.
333-153090) filed under the Securities Act on August&nbsp;19, 2008.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To obtain a free copy of any of the documents incorporated by reference in this reoffer
prospectus (other than exhibits, unless they are specifically incorporated by reference in the
document) please contact us at:
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">First Potomac Realty Trust<BR>
7600 Wisconsin Avenue<BR>
Bethesda, Maryland 20814<BR>
(301)&nbsp;986-9200

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our SEC filings also are available on our Internet website at <I>http://www.first-potomac.com</I>.
The information on our website is not, and you must not consider the information to be, a part of
this reoffer prospectus.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>WHERE YOU CAN FIND MORE INFORMATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We file annual, quarterly and other periodic reports, proxy statements and other information
with the SEC. You may read and copy any reports, statements, or other information we file with the
SEC at its public reference room located at 100 F Street, N.E., Washington, D.C. 20549. Please
call the SEC at 1-800-SEC-0330 for further information about the public reference room. Our
filings are also available to the public on the Internet, through a website maintained by the SEC
at <I>http://www.sec.gov. </I>In addition, you can inspect and copy reports, proxy statements and other
information concerning First Potomac Realty Trust at the offices of the New York Stock Exchange,
Inc., 20 Broad Street, New York, New York 10005, on which our common shares (symbol: &#147;FPO&#148;) are
listed.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>LEGAL MATTERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain matters with respect to the validity of the shares of beneficial interest offered by
this prospectus will be passed upon for us by our counsel, Hunton &#038; Williams LLP.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXPERTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements of First Potomac Realty Trust and subsidiaries as of
December&nbsp;31, 2008 and 2007, and for each of the years in the three-year period ended December&nbsp;31,
2008 and the related financial statement schedule of real estate and accumulated depreciation as of
December&nbsp;31, 2008,
 and management&#146;s assessment of the effectiveness of
 internal control over financial reporting as of December&nbsp;31,
2008, have been incorporated by reference herein in reliance upon the
reports of  KPMG
LLP, independent registered public accounting firm, incorporated by
reference herein, and upon the authority of said firm as experts in
accounting and auditing.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The document(s) containing the information specified in this Part&nbsp;I will be sent or given to
participants under the First Potomac Realty Trust 2009 Equity Compensation Plan as specified by
Rule&nbsp;428(b)(1) under the Securities Act. In accordance with the &#147;Note&#148; to Part&nbsp;I of Form S-8, such
documents will not be filed with the SEC either as part of this Registration Statement or as
prospectuses or prospectus supplements pursuant to Rule&nbsp;424 promulgated under the Securities Act.
These documents and the documents incorporated by reference in this Registration Statement pursuant
to Item&nbsp;3 of Part&nbsp;II hereof, taken together, constitute a prospectus that meets the requirements of
Section 10(a) of the Securities Act.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by the Company with the SEC are incorporated herein by reference
and made a part hereof:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2008,
filed with the SEC on March&nbsp;9, 2009.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Quarterly Report on Form 10-Q for the three months ended March&nbsp;31,
2009, filed with the SEC on May&nbsp;8, 2009.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Quarterly Report on Form 10-Q for the three months ended June&nbsp;30,
2009, filed with the SEC on August&nbsp;7, 2009.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Current Reports on Form 8-K filed with the SEC on January&nbsp;30, 2009,
May&nbsp;27, 2009 and June&nbsp;3, 2009.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Company&#146;s common shares set forth under the caption
&#147;Description of Capital Shares&#148; in the Registration Statement on Form S-3 (File No.
333-153090) filed under the Securities Act on August&nbsp;19, 2008.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents subsequently filed with the SEC by the Company pursuant to Sections&nbsp;13(a),
13(c), 14 and 15(d) of the Exchange Act, after the date of this Registration Statement and prior to
the filing of a post-effective amendment that indicates that all securities offered have been sold
or that deregisters all securities then remaining unsold, shall be deemed to be incorporated by
reference into this Registration Statement and to be a part hereof from the date of filing of such
documents. Any statement contained in a document incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the extent that a
statement contained herein or in any other subsequently filed document that is incorporated by
reference herein modifies or supersedes such earlier statement. Any statement so modified or
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this
Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland law permits a Maryland real estate investment trust to indemnify its present and
former trustees and officers, among others, against judgments, penalties, fines, settlements and
reasonable expenses actually incurred by them in connection with any proceeding to which they may
be made a party by reason of their service in those or other capacities unless it is established
that (a)&nbsp;the act or omission of the trustee or officer was material to the matter giving rise to
the proceeding and (i)&nbsp;was committed in bad faith or (ii)&nbsp;was a result of active and deliberate
dishonesty, (b)&nbsp;the trustee or officer actually received an improper personal benefit in money,
property or services or (c)&nbsp;in the case of any criminal proceeding, the trustee or officer had
reasonable cause to believe that the act or omission was unlawful. However, a real estate
investment trust may not indemnify an officer or trustee for (y)&nbsp;an adverse judgment in a suit by
or in the right of the real estate investment trust in which the officer or trustee was adjudged
liable to the real estate investment trust or (z)&nbsp;with respect to any proceeding charging improper
personal benefit if the officer or trustee was adjudged to be liable for an improper personal
benefit, unless in either case a court orders indemnification and then only for expenses.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s declaration of trust permits it, to the maximum extent permitted by Maryland
law, to obligate itself to indemnify and to pay or reimburse reasonable expenses as such expenses
are incurred, to (a)&nbsp;any shareholder, trustee, officer, employee or agent of the Company or (b)&nbsp;any
individual who, while a shareholder, trustee, officer, employee or agent of the Company and at the
Company&#146;s request, serves or has served another foreign or domestic corporation, partnership, joint
venture, trust, employee benefit plan or any other enterprise as a shareholder, trustee, officer,
employee or agent, from all claims and liabilities to which such person may become subject by
reason of his status as a shareholder, trustee, officer, employee or agent of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s bylaws obligate it, to the maximum extent permitted by Maryland law, to
indemnify and to pay or reimburse reasonable expenses in advance of final disposition of a
proceeding to:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any current or former shareholder, trustee, officer, employee or agent of the
Company or any individual who, while a shareholder, trustee, officer, employee or agent
of the Company and at the Company&#146;s request, serves or has served another foreign or
domestic corporation, partnership, joint venture, trust, employee benefit plan or any
other enterprise as a shareholder, trustee, officer, employee or agent, who have been
successful, on the merits or otherwise, in the defense of a proceeding to which that
individual was made a party by reason of such status, against reasonable expenses
incurred in connection with the proceeding;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any current or former trustee or officer against any claim or liability to which
that trustee or officer may become subject by reason of such status unless it is
established that (i)&nbsp;the individual&#146;s act or omission was committed in bad faith or was
the result of active and deliberate dishonesty; (ii)&nbsp;the individual actually received
an improper personal benefit in money, property or services; or (iii)&nbsp;in the case of a
criminal proceeding, the trustee or officer had reasonable cause to believe that the
act or omission was unlawful; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any current or former shareholder against any claim or liability to which that
individual may become subject by reason of such person&#146;s status as a shareholder or
former shareholder of the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s declaration of trust and bylaws also permit it to indemnify and advance expenses
to any person who served a predecessor of the Company in any of the capacities described above and
to any employee or agent of the Company or a predecessor of the Company.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to reimbursement of expenses by the Company in advance of the final disposition of an
action, the Company&#146;s bylaws and Maryland law require a trustee or officer to provide (i)&nbsp;written
affirmation of a good faith belief that the individual has met the applicable standard of conduct necessary for
indemnification and (ii)&nbsp;a written undertaking to repay the amount paid or reimbursed by the
Company if it shall ultimately be determined that the applicable standard of conduct was not met.
The bylaws provide that no amendment, repeal or adoption will affect the applicability of the
indemnification provisions as to acts or failures to act which occurred before the date of
amendment, repeal or adoption. Additionally, the Company may provide to trustees, officers and
shareholders such other and further indemnification or payment or reimbursement of expenses as may
be permitted by Maryland law, as in effect from time to time, for directors of Maryland
corporations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Potomac Realty Trust First Amended and Restated Declaration of Trust
(incorporated herein by reference to Exhibit&nbsp;3.1 to Amendment No.&nbsp;3 to the Company&#146;s
Registration Statement on Form&nbsp;S-11 filed on October&nbsp;1, 2003).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Potomac Realty Trust Amended and Restated Bylaws (incorporated herein by
reference to Exhibit&nbsp;3.2 to Amendment No.&nbsp;3 to the Company&#146;s Registration Statement on
Form&nbsp;S-11 filed on October&nbsp;1, 2003).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Agreement of Limited Partnership of First Potomac Realty
Investment, L.P. dated September&nbsp;15, 2004 (incorporated herein by reference to Exhibit
3.3 to Amendment No.&nbsp;3 to the Company&#146;s Registration Statement on Form&nbsp;S-11 filed on
October&nbsp;1, 2003).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of First Potomac Realty Investment Limited Partnership 6.41% Senior Notes, Series
A, due 2013 (incorporated by reference to Exhibit&nbsp;4.1 to the Company&#146;s Current Report
on Form&nbsp;8-K filed on June&nbsp;23, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of First Potomac Realty Investment Limited Partnership 6.55% Senior Notes, Series
B, due 2016 (incorporated by reference to Exhibit&nbsp;4.2 to the Company&#146;s Current Report
on Form&nbsp;8-K filed on June&nbsp;23, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Note Purchase Agreement by and among the Registrant, First Potomac Realty Investment
Limited Partnership and the several Purchasers listed on the signature pages thereto,
dated as of June&nbsp;22, 2006 (incorporated by reference to Exhibit&nbsp;4.3 to the Company&#146;s
Current Report on Form&nbsp;8-K filed on June&nbsp;23, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Trust Guaranty, entered into by the Registrant, dated as of June&nbsp;22, 2006 (incorporated
by reference to Exhibit&nbsp;4.4 to the Company&#146;s Current Report on Form&nbsp;8-K filed on June
23, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Subsidiary Guaranty, dated as of June&nbsp;22, 2006 (incorporated by reference to Exhibit
4.5 to the Company&#146;s Current Report on Form&nbsp;8-K filed on June&nbsp;23, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.9
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indenture, dated as of December&nbsp;11, 2006, by and among First Potomac Realty Investment
Limited Partnership, the Registrant, as Guarantor, and Wells Fargo Bank, National
Association, as Trustee (incorporated by reference to Exhibit&nbsp;4.1 to the Company&#146;s
Current Report on Form&nbsp;8-K filed on December&nbsp;12, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of First Potomac Realty Investment Limited Partnership 4.0% Exchangeable Senior
Note due 2011 (incorporated by reference to Exhibit&nbsp;4.2 to the Company&#146;s Current Report
on Form&nbsp;8-K filed on December&nbsp;12, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Hunton &#038; Williams LLP as to the legality of the securities being registered.*</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Potomac Realty Trust 2009 Equity Compensation Plan (incorporated by reference
from Exhibit&nbsp;A to the Company&#146;s Definitive Proxy Statement, filed on April&nbsp;8, 2009).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP.*</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Hunton &#038; Williams LLP (included as Exhibit&nbsp;5.1).*</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on signature page).*</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Filed herewith.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned registrant hereby undertakes:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;To reflect in the prospectus any facts or events arising after the effective date of the
Registration Statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the Registration
Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and
any deviation from the law or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes
in volume and price represent no more than a 20&nbsp;percent change in the maximum aggregate offering
price set forth in the &#147;Calculation of Registration Fee&#148; table in the effective Registration
Statement,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the plan of distribution not
previously disclosed in the Registration Statement or any material change to such information in
the Registration Statement,
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>provided, however, </I>that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration
statement is on Form S-3, Form S-8 or Form F-3, and the information required to be included in a
post-effective amendment by those paragraphs is contained in periodic reports filed with or
furnished to the SEC by the Company pursuant to Section&nbsp;13 or 15(d) of the Exchange Act that are
incorporated by reference in the registration statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial <I>bona fide </I>offering thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that for purposes of determining any
liability under the Securities Act, each filing of the Company&#146;s annual report pursuant to Section
13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan&#146;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in the Registration Statement shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at the time shall be deemed
to be the initial <I>bona fide </I>offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions or otherwise, the registrant has been advised that, in the opinion of the SEC,
such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than
the payment by the registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or proceeding) is asserted
by such director, officer or controlling person in connection with the securities being registered,
the registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Bethesda, State of
Maryland, on this 17th day of August,
2009.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>First Potomac Realty Trust</B> <BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/  Barry H. Bass
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Barry H. Bass&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Executive Vice President<br>
and Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, this registration
statement has been signed below by the following persons in the capacities and on the dates
indicated. Each of the trustees of First Potomac Realty Trust whose signature appears below hereby
appoints Barry H. Bass and Joel F. Bonder, and each of them individually, as his attorney-in-fact
to sign in his name and behalf, in any and all capacities stated below, and to file with the
Securities and Exchange Commission any and all amendments, including post-effective amendments, to
this registration statement, making such changes in the registration statement as appropriate, and
generally to do all such things in their behalf in their capacities as trustees and/or officers to
enable First Potomac Realty Trust to comply with the provisions of the Securities Act of 1933, and
all requirements of the Securities and Exchange Commission.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Douglas J. Donatelli
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Douglas J. Donatelli
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board and <BR>
Chief Executive Officer<BR>
(Principal Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top">August&nbsp;17, 2009</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Barry H. Bass
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Barry H. Bass
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice President and <BR>
Chief Financial Officer<BR>
(Principal Financial Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;17, 2009</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Michael H. Comer
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Michael H. Comer
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Senior Vice President and <BR>
Chief Accounting Officer<BR>
(Principal Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;17, 2009</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Robert H. Arnold
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Robert H. Arnold</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Trustee
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;17, 2009</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Richard B. Chess
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Richard B. Chess
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Trustee
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;17, 2009</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ J. Roderick Heller
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
J. Roderick Heller
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Trustee&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;17, 2009</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ R. Michael McCullough
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
R. Michael McCullough
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Trustee&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;17, 2009</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Alan G. Merten
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Alan G. Merten
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Trustee&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;21, 2009</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Terry L. Stevens
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Terry L. Stevens
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Trustee&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;17, 2009</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Potomac Realty Trust First Amended and Restated Declaration of Trust
(incorporated herein by reference to Exhibit&nbsp;3.1 to Amendment No.&nbsp;3 to the Company&#146;s
Registration Statement on Form&nbsp;S-11 filed on October&nbsp;1, 2003).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Potomac Realty Trust Amended and Restated Bylaws (incorporated herein by
reference to Exhibit&nbsp;3.2 to Amendment No.&nbsp;3 to the Company&#146;s Registration Statement on
Form&nbsp;S-11 filed on October&nbsp;1, 2003).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Agreement of Limited Partnership of First Potomac Realty
Investment, L.P. dated September&nbsp;15, 2004 (incorporated herein by reference to Exhibit
3.3 to Amendment No.&nbsp;3 to the Company&#146;s Registration Statement on Form&nbsp;S-11 filed on
October&nbsp;1, 2003).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of First Potomac Realty Investment Limited Partnership 6.41% Senior Notes, Series
A, due 2013 (incorporated by reference to Exhibit&nbsp;4.1 to the Company&#146;s Current Report
on Form&nbsp;8-K filed on June&nbsp;23, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of First Potomac Realty Investment Limited Partnership 6.55% Senior Notes, Series
B, due 2016 (incorporated by reference to Exhibit&nbsp;4.2 to the Company&#146;s Current Report
on Form&nbsp;8-K filed on June&nbsp;23, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Note Purchase Agreement by and among the Registrant, First Potomac Realty Investment
Limited Partnership and the several Purchasers listed on the signature pages thereto,
dated as of June&nbsp;22, 2006 (incorporated by reference to Exhibit&nbsp;4.3 to the Company&#146;s
Current Report on Form&nbsp;8-K filed on June&nbsp;23, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Trust Guaranty, entered into by the Registrant, dated as of June&nbsp;22, 2006 (incorporated
by reference to Exhibit&nbsp;4.4 to the Company&#146;s Current Report on Form&nbsp;8-K filed on June
23, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Subsidiary Guaranty, dated as of June&nbsp;22, 2006 (incorporated by reference to Exhibit
4.5 to the Company&#146;s Current Report on Form&nbsp;8-K filed on June&nbsp;23, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.9
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indenture, dated as of December&nbsp;11, 2006, by and among First Potomac Realty Investment
Limited Partnership, the Registrant, as Guarantor, and Wells Fargo Bank, National
Association, as Trustee (incorporated by reference to Exhibit&nbsp;4.1 to the Company&#146;s
Current Report on Form&nbsp;8-K filed on December&nbsp;12, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of First Potomac Realty Investment Limited Partnership 4.0% Exchangeable Senior
Note due 2011 (incorporated by reference to Exhibit&nbsp;4.2 to the Company&#146;s Current Report
on Form&nbsp;8-K filed on December&nbsp;12, 2006).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Hunton &#038; Williams LLP as to the legality of the securities being registered.*</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Potomac Realty Trust 2009 Equity Compensation Plan (incorporated by reference
from Exhibit&nbsp;A to the Company&#146;s Definitive Proxy Statement, filed on April&nbsp;8, 2009).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP.*</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Hunton &#038; Williams LLP (included as Exhibit&nbsp;5.1).*</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on signature page).*</TD>
</TR>
<!-- End Table Body -->
</TABLE>
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<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
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    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
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<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Filed herewith.</TD>
</TR>

</TABLE>




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[{"type": "S-8", "sequence": "1", "filename": "w75387sv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 123712}]
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sv8
Registration Statement No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
First Potomac Realty Trust
(Exact name of registrant as specified in its charter)
Maryland
37-1470730
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
7600 Wisconsin Avenue, 11
th
Floor
Bethesda, Maryland 20814
(Address of principal executive offices including zip code)
First Potomac Realty Trust 2009 Equity Compensation Plan
(Full title of the plan)
Joel F. Bonder
Executive Vice President and General Counsel
First Potomac Realty Trust
7600 Wisconsin Avenue, 11
th
Floor
Bethesda, Maryland 20814
(301) 986-9200
(Name and address, including zip code, and telephone number, including area code, of agent for service)
Copy to:
Edward W. Elmore, Jr.
Hunton & Williams LLP
Riverfront Plaza, East Tower
951 East Byrd Street
Richmond, Virginia 23219
(804) 788-7336
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated
filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer
o
Accelerated Filer
þ
Non-Accelerated Filer
o
(Do not check if smaller reporting company)
Smaller reporting company
o
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Title of securities
Amount to be
offering price
aggregate
Amount of
to be registered
registered
(1)(2)
per share
(3)
offering price
(3)
registration fee
Common shares of
beneficial
interest, $0.001
par value per share
650,000 shares
$
9.91
$
6,441,500
$
360
(1)
Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"),
this registration statement shall also cover an indeterminate number of additional common
shares of beneficial interest ("common shares") that become issuable under the First Potomac
Realty Trust 2009 Equity Compensation Plan (the "Plan") by reason of any stock dividend, stock
split, recapitalization, or other similar transaction effected without the receipt of
consideration which results in an increase in the number of the Registrant's outstanding
common shares.
(2)
Includes 335,262 restricted common shares issued by the Registrant on May 21, 2009 pursuant
to the Plan.
(3)
Estimated solely for the purpose of computing the registration fee. In accordance with Rules
457(c) and 457(h) under the Securities Act, the maximum offering price per share and maximum
aggregate offering price shown are based upon the average of the high and low sales prices reported
for the Registrant's common shares on the New York Stock Exchange on August 11, 2009, which was
$9.91 per share.
EXPLANATORY NOTE
First Potomac Realty Trust has prepared this registration statement (this "Registration
Statement") in accordance with the requirements of Form S-8 under the Securities Act of 1933, as
amended, or Securities Act, to register up to an aggregate of 650,000 common shares of beneficial
interest, $0.001 par value per share, or common shares, under its 2009 Equity Compensation Plan
(the "2009 Plan"). This Registration Statement also includes a reoffer prospectus that has been
prepared in accordance with Instruction C of Form S-8 and the requirements of Part I of Form S-3
under the Securities Act. The reoffer prospectus may be used for reoffers and resales on a
continuous or delayed basis in the future of up to an aggregate of 335,262 common shares, which may
constitute "control securities" and/or "restricted securities" which were issued pursuant to the
2009 Plan on May 21, 2009 to each of the selling shareholders listed under the caption "Selling
Shareholders" below.
The reoffer prospectus does not contain all of the information included in this Registration
Statement, certain items of which are contained in schedules and exhibits to this Registration
Statement, as permitted by the rules and regulations of the Securities and Exchange Commission.
Statements contained in this reoffer prospectus as to the contents of any agreement, instrument or
other document referred to are not necessarily complete. With respect to each such agreement,
instrument or other document filed as an exhibit to this Registration Statement, we refer you to
the exhibit for a more complete description of the matter involved, and each such statement shall
be deemed qualified in its entirety by this reference.
Unless the context otherwise requires, "us," "we," "our" or words of similar import, refer to
First Potomac Realty Trust and its subsidiaries.
REOFFER PROSPECTUS
335,262 COMMON SHARES OF BENEFICIAL INTEREST
FIRST POTOMAC REALTY TRUST
This reoffer prospectus relates to an aggregate of up to 335,262 of our common shares of
beneficial interest, $.001 par value per share, or common shares, that may be offered and resold
from time to time by the selling shareholders identified in this reoffer prospectus for their own
accounts. The shares described in this reoffer prospectus were issued pursuant to our 2009 Equity
Compensation Plan prior to the time at which the registration statement, of which this reoffer
prospectus is a part, became effective with the Securities and Exchange Commission, or SEC. This
reoffer prospectus has been prepared for the purpose of registering the shares under the Securities
Act of 1933, as amended, or the Securities Act, to allow for future sales by the selling
shareholders, on a continuous or delayed basis, to the public without restriction. All of the
selling shareholders are current, trustees, officers or employees of our company.
The selling shareholders may sell their common shares from time to time in one or more
transactions on the New York Stock Exchange, or NYSE, or on any stock exchange on which our common
shares may be listed at the time of sale, in privately negotiated transactions, or through a
combination of such methods, at market prices prevailing at the time of sale, at prices related to
such prevailing market prices, at fixed prices (which may be changed) or at negotiated prices. We
will receive no part of the proceeds from sales made under this reoffer prospectus. The selling
shareholders will bear all sales commissions and similar expenses. Any other expenses incurred by
us in connection with the registration and offering not borne by the selling shareholders will be
borne by us.
The selling shareholders and any brokers executing selling orders on their behalf may be
deemed to be "underwriters" within the meaning of the Securities Act, in which event commissions
received by such brokers may be deemed to be underwriting commissions under the Securities Act.
Our
common shares are listed on the NYSE under the symbol "FPO." On August 14, 2009, the last
reported price of our common shares on such market was $10.40 per share. Our principal offices are
located at 7600 Wisconsin Avenue, 11
th
Floor, Bethesda, Maryland 20814.
Investing in our common shares involves risks. See "Risk Factors" beginning on page 10 of our
Annual Report on
Form 10-K
for the year ended December 31, 2008, page 42 of our Quarterly Report on
Form 10-Q for the quarter ended March 31, 2009, and page 42 of our Quarterly Report on Form 10-Q
for the quarter ended June 30, 2009, each of which is incorporated herein by reference, for certain
risk factors relevant to an investment in our common shares.
Neither the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or determined if this prospectus is truthful or
complete. Any representation to the contrary is a criminal offense.
The
date of this prospectus is August 17, 2009.
TABLE OF CONTENTS
Page
Number
Our Company
1
Special Note Regarding Forward-Looking Statements
2
Risk Factors
4
Use of Proceeds
4
Selling Shareholders
5
Plan of Distribution
6
Incorporation of Certain Information by Reference
8
Where You Can Find More Information
9
Legal Matters
9
Experts
9
You should rely only on the information contained in this document or to which we have
referred you. Neither we nor the selling shareholders have authorized anyone to provide you with
different or additional information. This document may only be used where it is legal to sell
these securities. The information in this document may only be accurate on the date of this
document. You should not assume that the information in the prospectus, or incorporated herein by
reference, or in any prospectus supplement is accurate as of any date other than the date on the
front of those documents.
i
OUR COMPANY
We are a self-managed, self-administered real estate investment trust, or REIT, that focuses
on owning, developing, redeveloping and operating industrial properties and business parks in the
Washington, D.C. metropolitan area and other major markets in Virginia and Maryland. As of June
30, 2009, our portfolio totaled approximately 12 million square feet and our properties were 86.5%
occupied by 594 tenants. Our largest tenant is the U.S. Government. We derive substantially all
of our revenue from leases of space within our properties. We have elected to be taxed as a REIT
under the Internal Revenue Code of 1986, as amended.
We seek to acquire or redevelop properties that can benefit from active property management to
increase their profitability and value. Our portfolio primarily contains a mix of single-tenant
and multi-tenant industrial properties and business parks. Industrial properties generally are
used as warehouse, distribution and manufacturing facilities, while business parks combine office
building features with industrial property space.
We own our properties and conduct substantially all of our operations through our operating
partnership, First Potomac Realty Investment Limited Partnership. As the sole general partner of
our operating partnership, we have the power to manage and conduct our operating partnership's
business, subject to certain limitations described in the partnership agreement of our operating
partnership. As of June 30, 2009, we owned a 97.3% interest in our operating partnership. The
remaining interests in the operating partnership are owned by limited partners, including certain
of our executive officers and trustees, who contributed properties and other assets to our
operating partnership in exchange for limited partnership units.
Our executive offices are located at 7600 Wisconsin Avenue, 11
th
Floor, Bethesda,
Maryland 20814, and our telephone number is (301) 986-9200. We maintain a website at
http://www.first-potomac.com
. The information on our website does not constitute a part of this
reoffer prospectus.
1
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This reoffer prospectus includes and incorporates by reference forward-looking statements that
are subject to risks and uncertainties. These forward-looking statements are made in accordance
with Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as
amended, or the Exchange Act, and include information about possible or assumed future results of
our business, financial condition, liquidity, results of operations, plans and objectives.
Statements regarding the following subjects are forward-looking by their nature:
•
our business strategy;
•
our projected operating results;
•
our ability to obtain future financing arrangements;
•
estimates relating to our ability to make distributions to our shareholders in
the future;
•
our understanding of our competition;
•
market trends;
•
pending acquisitions of properties; and
•
projected capital expenditures.
The forward-looking statements are based on our beliefs, assumptions and expectations of our
future performance. These beliefs, assumptions and expectations can change as a result of many
possible events or factors, not all of which are known to us. If a change occurs, our business,
financial condition, liquidity and results of operations may vary materially from those expressed
in our forward-looking statements. You should carefully consider these risks before you make an
investment decision with respect to our common shares, along with the following factors that could
cause actual results to vary from our forward-looking statements:
•
the factors referenced below in this reoffer prospectus under the section
captioned "Risk Factors";
•
general volatility of the capital markets and the market price of our common
shares;
•
changes in our business strategy;
•
availability, terms and deployment of capital;
•
availability of qualified personnel;
•
changes in our industry, interest rates or the general economy;
•
the degree and nature of our competition;
•
defaults in the performance of lease terms by our tenants;
•
the financial condition of our tenants, including the extent of tenant
bankruptcies or defaults;
•
risk of our tenants not renewing their leases;
•
the concentration of leases with our single largest tenant, the U.S. Government;
2
•
our continued qualification as a REIT;
•
risks relating to real estate ownership and development; and
•
risks associated with use of leverage to acquire properties.
When we use the words "believe," "expect," "anticipate," "estimate" or similar expressions, we
intend to identify forward-looking statements. You should not place undue reliance on these
forward-looking statements.
There are a number of risk factors associated with the conduct of our business, and the risks
listed above or discussed in the section entitled "Risk Factors" on page 4 of this reoffer
prospectus, on page 10 of our Annual Report on Form 10-K for the year ended December 31, 2008, on
page 42 of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2009, on page 42 of
our Quarterly Report on Form 10-Q for the quarter ended June 30, 2009 and in the documents
incorporated by reference may not be exhaustive. New risks and uncertainties arise from time to
time, and it is impossible for us to predict these events or how they may affect us. All
forward-looking statements should be reviewed with caution. Except to the extent required by
applicable law, we undertake no obligation to, and do not intend to, update any forward-looking
statements, the factors listed above or the matters discussed or referenced below in the section
entitled "Risk Factors," or to publicly announce the results of any revisions to any of the
forward-looking statements contained herein to reflect future events or developments.
3
RISK FACTORS
Investing in our company involves various risks, including the risk that you might lose your
entire investment. Any one of the risk factors discussed, or other factors, could cause actual
results to differ materially from expectations and could adversely affect our profitability. These
risks are interrelated, and you should treat them as a whole. These risks described are not the
only risks that may affect us. Additional risks and uncertainties not presently known to us or not
identified, may also materially and adversely affect our business, financial condition, results of
operations and ability to make distributions to our shareholders. Before making an investment
decision, you should carefully consider all of the risks described in "Item 1A. Risk Factors" of
our Annual Report on Form 10-K for the fiscal year ended December 31, 2008, our Quarterly Report on
Form 10-Q for the quarter ended March 31, 2009 and our Quarterly Report on Form 10-Q for the
quarter ended June 30, 2009 and any risk factors included in our subsequent SEC filings
incorporated by reference herein, in addition to the other information contained or incorporated by
reference in this reoffer prospectus. In connection with the forward-looking statements that appear
in this reoffer prospectus, you should also carefully review the cautionary statements referred to
in "Special Note Regarding Forward-Looking Statements" on page 2 of this reoffer prospectus.
USE OF PROCEEDS
We will not receive any proceeds from the sale of shares of our common shares by the selling
shareholders.
4
SELLING SHAREHOLDERS
This reoffer prospectus relates to the reoffer or resale of common shares of our company that
were acquired by the selling shareholders pursuant to the grant of restricted share awards under
our 2009 Equity Compensation Plan. Each selling stockholder will receive all of the net proceeds
from the sale of his or her shares covered by this reoffer prospectus.
The following table identifies the selling shareholders and sets forth (i) the number of
common shares outstanding that are beneficially owned by such selling shareholder prior to the date
of this offering and as of the date of this reoffer prospectus, (ii) the number of shares that may
be offered by such selling shareholder under this reoffer prospectus and (iii) the number of shares
that will be owned by such selling shareholder and the percentage of common shares outstanding that
such shares will represent assuming the sale of all of the shares upon completion of this offering.
Because the selling shareholders may sell all, some or none of the shares that they hold and
because the number of shares outstanding may increase or decrease, we have estimated the amounts
and percentages of shares that the selling shareholders will hold after completion of this offering
by assuming that (i) the beneficial shareholders will not acquire the beneficial ownership of any
additional shares, (ii) the selling shareholders will dispose of only shares offered under this
reoffer prospectus prior to completion of this offering, and (iii) the selling shareholders will
sell all of the shares offered by this reoffer prospectus.
Number of Shares
Number of Shares
Percentage of Shares
Beneficially Owned
Number of Shares
Beneficially Owned
Beneficially Owned
Selling Shareholder
Prior to Offering(1)
Being Registered
Following Offering(1)
Following Offering(2)
Douglas J. Donatelli (3)
550,658
75,582
475,076
1.7
%
Nicholas R. Smith (4)
322,780
52,326
270,454
1.0
%
Barry H. Bass (5)
236,504
49,419
187,085
*
James H. Dawson (6)
223,893
49,419
174,474
*
Joel F. Bonder (7)
135,140
34,884
100,256
*
Michael H. Comer (8)
73,461
14,535
58,926
*
Timothy M. Zulick (9)
51,350
8,721
42,629
*
Tony Beck (10)
13,244
5,814
7,430
*
Mary Wacker (10)
14,119
5,814
8,305
*
Matt Wilson (10)
16,056
5,814
10,242
*
John Sadlik (10)
13,376
5,814
7,562
*
Robert H. Arnold (11)
22,968
4,520
18,448
*
Richard B. Chess (11)
14,520
4,520
10,000
*
J. Roderick Heller, III (11)
22,520
4,520
18,000
*
R. Michael McCullough (11)
18,011
4,520
13,491
*
Alan G. Merten (11)
11,487
4,520
6,967
*
Terry L. Stevens (11)
15,200
4,520
10,680
*
*
Less than 1%
(1)
Pursuant to the rules of the SEC, any common shares of our company for which a person has
the right to acquire within 60 days after August 13, 2009 pursuant to the exercise of stock
options or any other right are deemed to be outstanding for the purpose of computing the
percentage ownership of such person but are not deemed outstanding for the purpose of
computing the percentage ownership of any other person.
(2)
The percentage of beneficial ownership shown in the table is based on 28,643,090 common
shares of beneficial interest issued and outstanding as of August 7, 2009.
(3)
Mr. Donatelli is a founder of our company and has served as the chairman of our board of
directors since May 2008 and chief executive officer and trustee of our company since our
predecessor's founding in 1997. Mr. Donatelli is a cousin of Mr. Smith.
5
(4)
Mr. Smith is a founder of our company and has served as executive vice president and chief
investment officer since the founding of our predecessor in 1997. Mr. Smith is a cousin of
Mr. Donatelli.
(5)
Mr. Bass has served as senior vice president and chief financial officer since joining our
predecessor in June 2002 and was appointed executive vice president in February 2005.
(6)
Mr. Dawson has served as senior vice president and chief operating officer since 1998 and was
elected executive vice president in February 2005.
(7)
Mr. Bonder has served as executive vice president, general counsel and secretary since
January 2005.
(8)
Mr. Comer has served as our vice president and chief accounting officer since August 2003 and
was appointed senior vice president in February 2005.
(9)
Mr. Zulick has served as our senior vice president, leasing since August 2004.
(10)
Each individual is a current employee of First Potomac Management LLC and has been
employed by us as follows: Mr. Beck (since October 2006); Ms. Wacker (since February 2005);
Mr. Wilson (since March 2007); and Mr. Sadlik (since July 2005).
(11)
Each individual has served as a non-employee trustee of our company since our initial public
offering in October 2003, except for Dr. Merten, who joined our board of trustees in October
2005.
PLAN OF DISTRIBUTION
This reoffer prospectus covers the resale of our common shares by the selling shareholders
named in this reoffer prospectus and their pledgees, donees, assignees and other successors in
interest. The common shares offered by the selling shareholders have been issued to them by us
pursuant to our 2009 Equity Compensation Plan. These common shares have been issued to the selling
shareholders pursuant to an exemption from the registration provisions of the Securities Act. We
are registering the common shares to which this prospectus relates to provide the holders thereof
with freely tradable securities, but registration of these shares does not necessarily mean that
any of these shares will be offered or sold by the selling shareholders. The selling shareholders
may sell their common shares from time to time in one or more transactions on the NYSE or on any
stock exchange on which our common shares may be listed at the time of sale, in privately
negotiated transactions, or through a combination of such methods, at market prices prevailing at
the time of sale, at prices related to such prevailing market prices, at fixed prices (which may be
changed) or at negotiated prices. The selling shareholders may use the following methods when
selling common shares:
•
ordinary brokerage transactions and transactions in which the broker dealer solicits
purchasers;
•
block trades in which the broker dealer will attempt to sell the shares as agent but
may position and resell a portion of the block as principal to facilitate the
transaction;
•
purchases by a broker dealer as principal and resale by the broker dealer for its
account;
•
an exchange distribution in accordance with the rules of the applicable exchange;
•
privately negotiated transactions;
•
broker dealers may agree with the selling shareholders to sell a specified number of
such shares at a stipulated price per share;
•
a combination of any such methods of sale; and
6
•
any other method permitted pursuant to applicable law.
The selling shareholders may engage in short sales of the common shares and deliver common
shares to close out their short positions. The selling shareholders may also enter into put or call
options or other transactions with broker-dealers or others which require delivery to those persons
of common shares covered by this reoffer prospectus.
Brokers, dealers or other agents participating in the distribution of the common shares may
receive compensation in the form of discounts or commissions from the selling shareholders, as well
as the purchaser if they act as agent for the purchaser. The discount or commission in a particular
transaction could be more than the customary amount. We know of no existing arrangements between
the selling shareholders and any underwriter, broker, dealer or agent relating to the sale or
distribution of the common shares.
The selling shareholders and any brokers or dealers that participate in the sale of the common
shares may be deemed to be "underwriters" within the meaning of the Securities Act. It is the
position of the SEC that a registered broker-dealer that is a selling shareholder is presumed to be
an underwriter. Any discounts, commissions or other compensation received by these persons and any
profit on the resale of the common shares by them as principals might be deemed to be underwriters'
compensation. The selling shareholders may agree to indemnify any broker, dealer or agent that
participates in the sale of the common shares against various liabilities, including liabilities
under the Securities Act.
At the time a particular offer of common shares is made by a selling shareholder, to the
extent required, we will file a supplement to this reoffer prospectus which identifies the number
of common shares being offered, the name of the selling shareholders, the name of any participating
broker or dealer, the amount of discounts and commissions, and any other material information.
The selling shareholders and any other person participating in a distribution will be subject
to the applicable provisions of the Exchange Act and its rules and regulations. For example, the
anti-manipulative provisions of Regulation M may limit the ability of the selling shareholders or
others to engage in stabilizing and other market making activities.
This offering will terminate upon the earlier of:
•
the date that all of the common shares under this prospectus may be sold in
accordance with Rule 144 under the Securities Act; or
•
the date on which all shares offered hereby have been sold by the selling
shareholders.
The selling shareholders may from time to time pledge or grant a security interest in some or
all of the shares of beneficial interest owned by them and, if they default in the performance of
their secured obligations, the pledgees or secured parties may offer and sell the shares of
beneficial interest from time to time under this reoffer prospectus or other applicable provision
of the Securities Act. The selling shareholders also may transfer the shares in other
circumstances, in which case the transferees, pledgees or other successors in interest will be the
selling beneficial owners for purposes of this reoffer prospectus.
We will not receive any of the proceeds from the sale of the common shares by the selling
shareholders. The selling shareholders will bear all sales commissions and similar expenses. Any
other expenses incurred by us in connection with the registration and offering not borne by the
selling shareholders will be borne by us.
7
In order to comply with some states' securities laws, if applicable, the common shares will be
sold in those states only through registered or licensed brokers or dealers. In addition, in some
states the common shares may not be sold unless they have been registered or qualified for sale or
an exemption from registration or qualification is available and is satisfied.
INCORPORATION OF INFORMATION FILED WITH THE SEC
The SEC allows us to "incorporate by reference" into this reoffer prospectus the information
we file with the SEC, which means that we can disclose important business, financial and other
information to you by referring you to other documents separately filed with the SEC. All
information incorporated by reference is part of this reoffer prospectus. Any statement contained
in a document which is incorporated by reference in this reoffer prospectus is automatically
updated and superseded if information contained in this reoffer prospectus or information we later
file with the SEC modifies or replaces that information.
We incorporate by reference the documents listed below and any future filings we make with the
SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, unless specifically stated
otherwise, prior to completion of the offering of common shares described in this reoffer
prospectus.
•
The Company's Annual Report on Form 10-K for the year ended December 31, 2008,
filed with the SEC on March 9, 2009.
•
The Company's Quarterly Report on Form 10-Q for the three months ended March 31,
2009, filed with the SEC on May 8, 2009.
•
The Company's Quarterly Report on Form 10-Q for the three months ended June 30,
2009, filed with the SEC on August 7, 2009.
•
The Company's Current Reports on Form 8-K filed with the SEC on January 30, 2009,
May 27, 2009 and June 3, 2009.
•
The description of the Company's common shares set forth under the caption
"Description of Capital Shares" in the Registration Statement on Form S-3 (File No.
333-153090) filed under the Securities Act on August 19, 2008.
To obtain a free copy of any of the documents incorporated by reference in this reoffer
prospectus (other than exhibits, unless they are specifically incorporated by reference in the
document) please contact us at:
First Potomac Realty Trust
7600 Wisconsin Avenue
Bethesda, Maryland 20814
(301) 986-9200
Our SEC filings also are available on our Internet website at
http://www.first-potomac.com
.
The information on our website is not, and you must not consider the information to be, a part of
this reoffer prospectus.
8
WHERE YOU CAN FIND MORE INFORMATION
We file annual, quarterly and other periodic reports, proxy statements and other information
with the SEC. You may read and copy any reports, statements, or other information we file with the
SEC at its public reference room located at 100 F Street, N.E., Washington, D.C. 20549. Please
call the SEC at 1-800-SEC-0330 for further information about the public reference room. Our
filings are also available to the public on the Internet, through a website maintained by the SEC
at
http://www.sec.gov.
In addition, you can inspect and copy reports, proxy statements and other
information concerning First Potomac Realty Trust at the offices of the New York Stock Exchange,
Inc., 20 Broad Street, New York, New York 10005, on which our common shares (symbol: "FPO") are
listed.
LEGAL MATTERS
Certain matters with respect to the validity of the shares of beneficial interest offered by
this prospectus will be passed upon for us by our counsel, Hunton & Williams LLP.
EXPERTS
The consolidated financial statements of First Potomac Realty Trust and subsidiaries as of
December 31, 2008 and 2007, and for each of the years in the three-year period ended December 31,
2008 and the related financial statement schedule of real estate and accumulated depreciation as of
December 31, 2008,
 and management's assessment of the effectiveness of
 internal control over financial reporting as of December 31,
2008, have been incorporated by reference herein in reliance upon the
reports of  KPMG
LLP, independent registered public accounting firm, incorporated by
reference herein, and upon the authority of said firm as experts in
accounting and auditing.
9
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The document(s) containing the information specified in this Part I will be sent or given to
participants under the First Potomac Realty Trust 2009 Equity Compensation Plan as specified by
Rule 428(b)(1) under the Securities Act. In accordance with the "Note" to Part I of Form S-8, such
documents will not be filed with the SEC either as part of this Registration Statement or as
prospectuses or prospectus supplements pursuant to Rule 424 promulgated under the Securities Act.
These documents and the documents incorporated by reference in this Registration Statement pursuant
to Item 3 of Part II hereof, taken together, constitute a prospectus that meets the requirements of
Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed by the Company with the SEC are incorporated herein by reference
and made a part hereof:
•
The Company's Annual Report on Form 10-K for the year ended December 31, 2008,
filed with the SEC on March 9, 2009.
•
The Company's Quarterly Report on Form 10-Q for the three months ended March 31,
2009, filed with the SEC on May 8, 2009.
•
The Company's Quarterly Report on Form 10-Q for the three months ended June 30,
2009, filed with the SEC on August 7, 2009.
•
The Company's Current Reports on Form 8-K filed with the SEC on January 30, 2009,
May 27, 2009 and June 3, 2009.
•
The description of the Company's common shares set forth under the caption
"Description of Capital Shares" in the Registration Statement on Form S-3 (File No.
333-153090) filed under the Securities Act on August 19, 2008.
All documents subsequently filed with the SEC by the Company pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Exchange Act, after the date of this Registration Statement and prior to
the filing of a post-effective amendment that indicates that all securities offered have been sold
or that deregisters all securities then remaining unsold, shall be deemed to be incorporated by
reference into this Registration Statement and to be a part hereof from the date of filing of such
documents. Any statement contained in a document incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the extent that a
statement contained herein or in any other subsequently filed document that is incorporated by
reference herein modifies or supersedes such earlier statement. Any statement so modified or
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this
Registration Statement.
Item 4. Description of Securities.
Not Applicable.
Item 5. Interests of Named Experts and Counsel.
Not Applicable.
Item 6. Indemnification of Directors and Officers.
Maryland law permits a Maryland real estate investment trust to indemnify its present and
former trustees and officers, among others, against judgments, penalties, fines, settlements and
reasonable expenses actually incurred by them in connection with any proceeding to which they may
be made a party by reason of their service in those or other capacities unless it is established
that (a) the act or omission of the trustee or officer was material to the matter giving rise to
the proceeding and (i) was committed in bad faith or (ii) was a result of active and deliberate
dishonesty, (b) the trustee or officer actually received an improper personal benefit in money,
property or services or (c) in the case of any criminal proceeding, the trustee or officer had
reasonable cause to believe that the act or omission was unlawful. However, a real estate
investment trust may not indemnify an officer or trustee for (y) an adverse judgment in a suit by
or in the right of the real estate investment trust in which the officer or trustee was adjudged
liable to the real estate investment trust or (z) with respect to any proceeding charging improper
personal benefit if the officer or trustee was adjudged to be liable for an improper personal
benefit, unless in either case a court orders indemnification and then only for expenses.
The Company's declaration of trust permits it, to the maximum extent permitted by Maryland
law, to obligate itself to indemnify and to pay or reimburse reasonable expenses as such expenses
are incurred, to (a) any shareholder, trustee, officer, employee or agent of the Company or (b) any
individual who, while a shareholder, trustee, officer, employee or agent of the Company and at the
Company's request, serves or has served another foreign or domestic corporation, partnership, joint
venture, trust, employee benefit plan or any other enterprise as a shareholder, trustee, officer,
employee or agent, from all claims and liabilities to which such person may become subject by
reason of his status as a shareholder, trustee, officer, employee or agent of the Company.
The Company's bylaws obligate it, to the maximum extent permitted by Maryland law, to
indemnify and to pay or reimburse reasonable expenses in advance of final disposition of a
proceeding to:
•
any current or former shareholder, trustee, officer, employee or agent of the
Company or any individual who, while a shareholder, trustee, officer, employee or agent
of the Company and at the Company's request, serves or has served another foreign or
domestic corporation, partnership, joint venture, trust, employee benefit plan or any
other enterprise as a shareholder, trustee, officer, employee or agent, who have been
successful, on the merits or otherwise, in the defense of a proceeding to which that
individual was made a party by reason of such status, against reasonable expenses
incurred in connection with the proceeding;
•
any current or former trustee or officer against any claim or liability to which
that trustee or officer may become subject by reason of such status unless it is
established that (i) the individual's act or omission was committed in bad faith or was
the result of active and deliberate dishonesty; (ii) the individual actually received
an improper personal benefit in money, property or services; or (iii) in the case of a
criminal proceeding, the trustee or officer had reasonable cause to believe that the
act or omission was unlawful; and
•
any current or former shareholder against any claim or liability to which that
individual may become subject by reason of such person's status as a shareholder or
former shareholder of the Company.
The Company's declaration of trust and bylaws also permit it to indemnify and advance expenses
to any person who served a predecessor of the Company in any of the capacities described above and
to any employee or agent of the Company or a predecessor of the Company.
Prior to reimbursement of expenses by the Company in advance of the final disposition of an
action, the Company's bylaws and Maryland law require a trustee or officer to provide (i) written
affirmation of a good faith belief that the individual has met the applicable standard of conduct necessary for
indemnification and (ii) a written undertaking to repay the amount paid or reimbursed by the
Company if it shall ultimately be determined that the applicable standard of conduct was not met.
The bylaws provide that no amendment, repeal or adoption will affect the applicability of the
indemnification provisions as to acts or failures to act which occurred before the date of
amendment, repeal or adoption. Additionally, the Company may provide to trustees, officers and
shareholders such other and further indemnification or payment or reimbursement of expenses as may
be permitted by Maryland law, as in effect from time to time, for directors of Maryland
corporations.
Item 7. Exemption from Registration Claimed.
Not Applicable.
Item 8. Exhibits.
Exhibit
No.
Description
4.1
First Potomac Realty Trust First Amended and Restated Declaration of Trust
(incorporated herein by reference to Exhibit 3.1 to Amendment No. 3 to the Company's
Registration Statement on Form S-11 filed on October 1, 2003).
4.2
First Potomac Realty Trust Amended and Restated Bylaws (incorporated herein by
reference to Exhibit 3.2 to Amendment No. 3 to the Company's Registration Statement on
Form S-11 filed on October 1, 2003).
4.3
Amended and Restated Agreement of Limited Partnership of First Potomac Realty
Investment, L.P. dated September 15, 2004 (incorporated herein by reference to Exhibit
3.3 to Amendment No. 3 to the Company's Registration Statement on Form S-11 filed on
October 1, 2003).
4.4
Form of First Potomac Realty Investment Limited Partnership 6.41% Senior Notes, Series
A, due 2013 (incorporated by reference to Exhibit 4.1 to the Company's Current Report
on Form 8-K filed on June 23, 2006).
4.5
Form of First Potomac Realty Investment Limited Partnership 6.55% Senior Notes, Series
B, due 2016 (incorporated by reference to Exhibit 4.2 to the Company's Current Report
on Form 8-K filed on June 23, 2006).
4.6
Note Purchase Agreement by and among the Registrant, First Potomac Realty Investment
Limited Partnership and the several Purchasers listed on the signature pages thereto,
dated as of June 22, 2006 (incorporated by reference to Exhibit 4.3 to the Company's
Current Report on Form 8-K filed on June 23, 2006).
4.7
Trust Guaranty, entered into by the Registrant, dated as of June 22, 2006 (incorporated
by reference to Exhibit 4.4 to the Company's Current Report on Form 8-K filed on June
23, 2006).
4.8
Subsidiary Guaranty, dated as of June 22, 2006 (incorporated by reference to Exhibit
4.5 to the Company's Current Report on Form 8-K filed on June 23, 2006).
4.9
Indenture, dated as of December 11, 2006, by and among First Potomac Realty Investment
Limited Partnership, the Registrant, as Guarantor, and Wells Fargo Bank, National
Association, as Trustee (incorporated by reference to Exhibit 4.1 to the Company's
Current Report on Form 8-K filed on December 12, 2006).
4.10
Form of First Potomac Realty Investment Limited Partnership 4.0% Exchangeable Senior
Note due 2011 (incorporated by reference to Exhibit 4.2 to the Company's Current Report
on Form 8-K filed on December 12, 2006).
5.1
Opinion of Hunton & Williams LLP as to the legality of the securities being registered.*
Exhibit
No.
Description
10.1
First Potomac Realty Trust 2009 Equity Compensation Plan (incorporated by reference
from Exhibit A to the Company's Definitive Proxy Statement, filed on April 8, 2009).
23.1
Consent of KPMG LLP.*
23.2
Consent of Hunton & Williams LLP (included as Exhibit 5.1).*
24.1
Power of Attorney (included on signature page).*
*
Filed herewith.
Item 9. Undertakings.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act,
(ii) To reflect in the prospectus any facts or events arising after the effective date of the
Registration Statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the Registration
Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and
any deviation from the law or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes
in volume and price represent no more than a 20 percent change in the maximum aggregate offering
price set forth in the "Calculation of Registration Fee" table in the effective Registration
Statement,
(iii) To include any material information with respect to the plan of distribution not
previously disclosed in the Registration Statement or any material change to such information in
the Registration Statement,
provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration
statement is on Form S-3, Form S-8 or Form F-3, and the information required to be included in a
post-effective amendment by those paragraphs is contained in periodic reports filed with or
furnished to the SEC by the Company pursuant to Section 13 or 15(d) of the Exchange Act that are
incorporated by reference in the registration statement.
(2) That for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that for purposes of determining any
liability under the Securities Act, each filing of the Company's annual report pursuant to Section
13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in the Registration Statement shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at the time shall be deemed
to be the initial
bona fide
offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions or otherwise, the registrant has been advised that, in the opinion of the SEC,
such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than
the payment by the registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or proceeding) is asserted
by such director, officer or controlling person in connection with the securities being registered,
the registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Bethesda, State of
Maryland, on this 17th day of August,
2009.
First Potomac Realty Trust
(Registrant)
By:
/s/  Barry H. Bass
Barry H. Bass
Executive Vice President
and Chief Financial Officer
Pursuant to the requirements of the Securities Act of 1933, as amended, this registration
statement has been signed below by the following persons in the capacities and on the dates
indicated. Each of the trustees of First Potomac Realty Trust whose signature appears below hereby
appoints Barry H. Bass and Joel F. Bonder, and each of them individually, as his attorney-in-fact
to sign in his name and behalf, in any and all capacities stated below, and to file with the
Securities and Exchange Commission any and all amendments, including post-effective amendments, to
this registration statement, making such changes in the registration statement as appropriate, and
generally to do all such things in their behalf in their capacities as trustees and/or officers to
enable First Potomac Realty Trust to comply with the provisions of the Securities Act of 1933, and
all requirements of the Securities and Exchange Commission.
Signature
Title
Date
/s/ Douglas J. Donatelli
Douglas J. Donatelli
Chairman of the Board and
Chief Executive Officer
(Principal Executive Officer)
August 17, 2009
/s/ Barry H. Bass
Barry H. Bass
Executive Vice President and
Chief Financial Officer
(Principal Financial Officer)
August 17, 2009
/s/ Michael H. Comer
Michael H. Comer
Senior Vice President and
Chief Accounting Officer
(Principal Accounting Officer)
August 17, 2009
/s/ Robert H. Arnold
Robert H. Arnold
Trustee
August 17, 2009
/s/ Richard B. Chess
Richard B. Chess
Trustee
August 17, 2009
/s/ J. Roderick Heller
J. Roderick Heller
Trustee
August 17, 2009
/s/ R. Michael McCullough
R. Michael McCullough
Trustee
August 17, 2009
/s/ Alan G. Merten
Alan G. Merten
Trustee
July 21, 2009
/s/ Terry L. Stevens
Terry L. Stevens
Trustee
August 17, 2009
EXHIBIT INDEX
Exhibit
No.
Description
4.1
First Potomac Realty Trust First Amended and Restated Declaration of Trust
(incorporated herein by reference to Exhibit 3.1 to Amendment No. 3 to the Company's
Registration Statement on Form S-11 filed on October 1, 2003).
4.2
First Potomac Realty Trust Amended and Restated Bylaws (incorporated herein by
reference to Exhibit 3.2 to Amendment No. 3 to the Company's Registration Statement on
Form S-11 filed on October 1, 2003).
4.3
Amended and Restated Agreement of Limited Partnership of First Potomac Realty
Investment, L.P. dated September 15, 2004 (incorporated herein by reference to Exhibit
3.3 to Amendment No. 3 to the Company's Registration Statement on Form S-11 filed on
October 1, 2003).
4.4
Form of First Potomac Realty Investment Limited Partnership 6.41% Senior Notes, Series
A, due 2013 (incorporated by reference to Exhibit 4.1 to the Company's Current Report
on Form 8-K filed on June 23, 2006).
4.5
Form of First Potomac Realty Investment Limited Partnership 6.55% Senior Notes, Series
B, due 2016 (incorporated by reference to Exhibit 4.2 to the Company's Current Report
on Form 8-K filed on June 23, 2006).
4.6
Note Purchase Agreement by and among the Registrant, First Potomac Realty Investment
Limited Partnership and the several Purchasers listed on the signature pages thereto,
dated as of June 22, 2006 (incorporated by reference to Exhibit 4.3 to the Company's
Current Report on Form 8-K filed on June 23, 2006).
4.7
Trust Guaranty, entered into by the Registrant, dated as of June 22, 2006 (incorporated
by reference to Exhibit 4.4 to the Company's Current Report on Form 8-K filed on June
23, 2006).
4.8
Subsidiary Guaranty, dated as of June 22, 2006 (incorporated by reference to Exhibit
4.5 to the Company's Current Report on Form 8-K filed on June 23, 2006).
4.9
Indenture, dated as of December 11, 2006, by and among First Potomac Realty Investment
Limited Partnership, the Registrant, as Guarantor, and Wells Fargo Bank, National
Association, as Trustee (incorporated by reference to Exhibit 4.1 to the Company's
Current Report on Form 8-K filed on December 12, 2006).
4.10
Form of First Potomac Realty Investment Limited Partnership 4.0% Exchangeable Senior
Note due 2011 (incorporated by reference to Exhibit 4.2 to the Company's Current Report
on Form 8-K filed on December 12, 2006).
5.1
Opinion of Hunton & Williams LLP as to the legality of the securities being registered.*
10.1
First Potomac Realty Trust 2009 Equity Compensation Plan (incorporated by reference
from Exhibit A to the Company's Definitive Proxy Statement, filed on April 8, 2009).
23.1
Consent of KPMG LLP.*
23.2
Consent of Hunton & Williams LLP (included as Exhibit 5.1).*
24.1
Power of Attorney (included on signature page).*
*
Filed herewith.