• Finmarc
  • News
  • Press Releases
  • FINMARC MANAGEMENT, INC. SELLS 71,373 SQUARE FOOT INDUSTRIAL BUILDING IN FAIRFAX, VA FOR $12.6 MILLION

FINMARC MANAGEMENT, INC. SELLS 71,373 SQUARE FOOT INDUSTRIAL BUILDING IN FAIRFAX, VA FOR $12.6 MILLION
Posted on: 12/09/2016

Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm, has announced the sale of a 71,373 square foot industrial building in Fairfax, Virginia for $12.6 million. The asset was 100% leased to multiple tenants at the time of the sale. Bruce Strasburg, Senior Managing Director of HFF represented Finmarc Management, Inc. with the buyer, The Donohoe Companies, Inc., represented by Donohoe Real Estate Services in this transaction.

Finmarc Management, Inc. currently owns and manages seventy-three office, flex, industrial and retail properties as well as several residential projects situated throughout the Mid-Atlantic region, with the company’s portfolio exceeding 5.8 million square feet of space.

Known as Prosperity Business Center and located at 2930-2942 Prosperity Avenue, the single-story building was constructed in 1972 and features nearly nineteen foot ceiling heights. The tenants are Auto Parts International, Electric Wholesalers, Evolution Sports Training, Fairfax County – Food for Others, McLean Furniture and Prosperity Food Groups.

The building fronts Prosperity Avenue, is directly adjacent to US Route 50 (Arlington Boulevard) and is less than three miles from Interstate 495 (Capital Beltway) and Interstate 66. Downtown Washington, D.C. and Washington Dulles International Airport can be reached in less than thirty minutes.

“The new owner acquired a strategically-located, well-maintained and fully-occupied asset situated in a marketplace that contains every fundamental necessary for continued and long-term success,” stated Neil Markus, Principal of Finmarc. “Our team continues to search the Mid-Atlantic region for suitable real estate product that complement our existing portfolio, and we intend to reallocate the proceeds from this sale to fund future acquisitions.”

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