Federal Capital Partners Quits Georgetown in Favor of Friendship Heights

Federal Capital Partners, a privately-held real estate investment company that manages a $1.8-billion portfolio, , citing the area's "wonderful array of amenities."

The company, which used to call 1000 Potomac St. NW home, now occupies 5,900 square feet of office space at 5425 Wisconsin Ave. in Md. The company signed a seven-and-a-half-year lease for its 25 employees, reported Jeff Clabaugh for the Washington Business Journal.

The move was prompted by better amenities, such as a metro station, at the new Maryland location.

“While we remain strongly invested in Washington, D.C., we had the opportunity to move our offices to a location that offered visibility, excellent access to all of our Washington area submarkets and a wonderful array of amenities for our employees at a Metro location,” said Federal Capital Partners Vice President and Controller Garland Faist in a statement.

Maryland state and county officials were quit to welcome the newest addition to their business community.

“We are delighted that FCP chose to move its headquarters to Chevy Chase," said Montgomery County Executive Isiah Leggett.

“This is a great example of the positive impact that [state] and local governments can have when they leverage resources and work together to help attract companies to [Maryland]," said Christian S. Johansson, secretary of the Maryland Department of Business and Economic Development.

Established in 1999, Federal Capital Partners is one of the most active privately-held real estate investment companies in Washington, DC, and the mid-Atlantic region (including Baltimore, Philadelphia and the Virginia Tidewater and Raleigh/Durham areas).

Do you think the company's move is a loss? What can D.C. do to retain and attract companies like Federal Capital Partners?