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  • FINMARC MANAGEMENT, INC. ACQUIRES 46,600 SQUARE FOOT FLEX/WAREHOUSE BUILDING IN GAITHERSBURG, MARYLAND FOR $4.95 MILLION

FINMARC MANAGEMENT, INC. ACQUIRES 46,600 SQUARE FOOT FLEX/WAREHOUSE BUILDING IN GAITHERSBURG, MARYLAND FOR $4.95 MILLION
Posted on: 07/10/2016

Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm, has announced the acquisition of a 46,600 square foot flex/warehouse building situated on approximately 4.7 acres of land at 7419-7431 Lindbergh Drive, in the Gaithersburg section of Montgomery County, Maryland. The asset was purchased for $4.95 million from 7419 Lindberg Drive, LLC with Sandy Hunt of Scheer Partners representing the buyer and seller in this transaction.

This past summer, Finmarc Management acquired two single-story assets located across from this building at 7500 and 7510 Lindbergh Drive for $9.2 million. The buildings were 100% leased.

“Acquiring this high-quality asset builds upon and leverages the value of the adjacent properties our team purchased earlier this year,” explained Marc Solomon a Principal of Finmarc.  “We continually seek value-add opportunities in this sub-market based on the sustained strength of the industrial, warehouse and commercial office product categories. This flex/warehouse building is substantially leased by a creditworthy company, is excellently maintained and it was acquired at below replacement cost.”

Allied Building Supply is the largest tenant in the building which is currently 90% leased. It is positioned near the intersection of Woodfield Road (MD Route 124) and Airpark Road, and is within close proximity to the Intercounty Connector (MD Route 200), Interstate 370 and the Shady Grove metro station.

With this latest acquisition Finmarc Management currently owns and manages seventy-four office, flex, industrial and retail properties as well as several residential projects situated throughout the Mid-Atlantic area. The company’s portfolio now exceeds 5.8 million square feet of space.

Finmarc Management, Inc. is a fully-integrated commercial real estate company that focuses on real estate investment, management, leasing and development of retail, industrial/flex , and office properties  throughout the Mid-Atlantic region. The firm presently owns and/or manages a diverse portfolio encompassing more than five million square feet of properties located in Maryland, Washington, D.C., Virginia, Delaware, New Jersey and Pennsylvania. For additional information, visit www.Finmarc.com