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  • FINMARC MANAGEMENT, INC. SELLS PINEY BRANCH SHOPPING CENTER IN SILVER SPRING, MARYLAND FOR $11.2 MILLION

FINMARC MANAGEMENT, INC. SELLS PINEY BRANCH SHOPPING CENTER IN SILVER SPRING, MARYLAND FOR $11.2 MILLION
Posted on: 06/01/2016

54,242 square foot neighborhood center is 100% leased 

Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm has sold Piney Branch Shopping Center, a 54,242 square foot shopping center situated in the Silver Spring section of Montgomery County to an affiliate of JBGR Retail for $11.2 million. Andy Stape, Mat Adler and Vito Lupo of KLNB Retail represented the seller in this transaction.

Built in 1950 and renovated in 1985, the center includes twelve tenants. It is situated at the intersection of Piney Branch Road, Flower Avenue and Greenwood Avenue near the heart of downtown Silver Spring.

Nearly 225,000 consumers reside within a three-mile radius of Piney Branch Shopping Center, with an average household income approaching nearly $88,000. Approximately 33,000 vehicles pass the site on a daily basis.

“The new owner acquired a fully-leased shopping center asset with a stable tenant base that services the needs of the local community,” explained Marc Solomon, Principal of Finmarc. “This sub-market of Montgomery County is not projected for new retail construction in the immediate future, which adds of the long-term value of Piney Branch Shopping Center.”

Finmarc Management, along with its partners has acquired or disposed of more than $400 million worth of properties over the past two years.

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 projects, and office buildings throughout the Mid-Atlantic region. The firm presently owns and/or manages a diverse portfolio encompassing more than 5 million square feet of properties located in Maryland, Washington, D.C., Virginia, Delaware, New Jersey and Pennsylvania. For additional information, visit www.Finmarc.com.