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  • FINMARC MANAGEMENT, INC. ACQUIRES 66,000 SQUARE FOOT WAREHOUSE PORTFOLIO IN GAITHERSBURG, MARYLAND FOR $9.2 MILLION

FINMARC MANAGEMENT, INC. ACQUIRES 66,000 SQUARE FOOT WAREHOUSE PORTFOLIO IN GAITHERSBURG, MARYLAND FOR $9.2 MILLION
Posted on: 31/08/2016

Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm, has announced the acquisition of a two-building warehouse portfolio comprising more than 66,000 square feet of space on nearly five acres of land. The two single-story assets, located at 7500 and 7510 Lindbergh Drive in the Gaithersburg section of Montgomery County, MD are 100% leased and were purchased for $9.2 million. Joe Friedman of Metropolis Capital Advisors represented the seller in this transaction.

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.

“These assets are strategically-positioned, best in class, within a sub-market that exhibits outstanding fundamentals of the industrial and warehouse product category,” explained Marc Solomon a Principal of Finmarc. “Both buildings have been excellently maintained and feature credit-worthy tenants with long-term leases. They satisfied each criteria in our acquisition requirements, and mesh perfectly with our existing portfolio of properties in the suburban Maryland marketplace.”

Constructed in 1990 and 1991, the two buildings house tenants including FSA (Consumer Product Safety Commission), Minds in Motion Childcare, Instant Hardware Delivery and Dream Team Cheer. Both buildings have twenty-four foot ceiling heights.

The two buildings are near the intersection of Woodfield Road (MD Route 124) and Airpark Road, and are within close proximity to the Intercounty Connector (MD Route 200), Interstate 370 and the Shady Grove metro station.

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 5.8 million square feet of properties located in Maryland, Washington, D.C., Virginia, Delaware, New Jersey and Pennsylvania. For additional information, visit www.Finmarc.com