FINMARC MANAGEMENT, INC. SELLS FULLY-LEASED DATA CENTER BUILDING IN CHANTILLY, VA FOR $22.94 MILLION
Posted on: 27/12/2016

Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm, has announced the sale of a single-story 54,530 square foot data center building situated at 4120 Lafayette Center Drive within the Enterprise Center in Chantilly, Virginia for $22.94 million. The asset, which was 100% leased and occupied at the time of the transaction, was acquired by Legacy Lafayette, LLC. Thomas E. Cleaver III and Rob Faktorow of CBRE; Joseph Hoffman of Kelly Drye and Warren; and Brian Winterhalter of Cooley represented the Seller in this transaction.

Located within close proximity to US Route 50 (John Mosby Highway), the asset is situated immediately south of Washington Dulles International Airport and is near the National Reconnaissance Office. VA Route 28 is several minutes away, and downtown Washington, D.C. is approximately thirty miles from the site. Built-out in a raised-floor data center configuration, it also contains perimeter office space, conference room facilities and numerous employee amenities. The building is surrounded by a free surface parking lot.

The building was part of the 26-building, 950,000 square foot portfolio of commercial office, flex/office and warehouse space that Finmarc Management acquired from First Potomac Realty Trust earlier this year.

“Since acquiring the 26-building portfolio this year in which this asset was a part of, we have been selectively disposing of certain properties and employing the proceeds into new acquisitions,” explained Neil Markus, Principal of Finmarc Management. “We remain extremely optimistic about the Washington metro DC market in the coming year and intend to acquire approximately $150 million worth of assets for 1031 exchanges over the next six months.”

With this latest sale, Finmarc Management currently owns and manages nearly 100 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 nearly six million square feet of properties located in Maryland, Washington, D.C., Virginia, Delaware, New Jersey and Pennsylvania. For additional information, visit www.Finmarc.com