FINMARC MANAGEMENT SELLS TWO BUILDINGS WITHIN ENTERPRISE CENTER IN CHANTILLY, VA, TOTALING MORE THAN 56,076 SQUARE FEET OF SPACE, FOR $7.2 MILLION
Posted on: 02/11/2018

Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm, has announced the sale of two flex/office/warehouse buildings comprising 56,076 square feet of space within the Enterprise Center in Chantilly, Virginia for $7.2 million. The assets were acquired by 10^th Street, LLC. Caulley Deringer and Andrew Hassett of Transwestern represented the seller and Andrew Fallon of Calkain Companies represented the buyer in this transaction. 

The buildings, situated at 15100 and 15120 Enterprise Court, were part of the 26-building portfolio totaling approximately 950,000 square feet of commercial office, flex/office and warehouse space that Finmarc acquired from First Potomac Realty Trust in 2016. Over the past two years, Finmarc has elevated leasing from 51% to 100% within the two buildings with the signing of three new leases representing more than 27,000 square feet of space.

This disposition represents the last of the four buildings sold by Finmarc within Enterprise Center, following the sale of a three-story 78,327 square foot office building for $4.9 million last year. It also marks the company’s second disposition in the last four months with Finmarc selling an Alexandria, Virginia office building in August for nearly $30 million.  

“This sale continues our strategy of selectively disposing of certain properties from our portfolio, with the strong potential for continued activity expected in the near future,” explained Sean Sullivan, Vice President of Finmarc Management. “Proceeds generated from this sale will be utilized to fund continuing acquisitions and we remain extremely active in our search for compelling trade opportunities. The new owner of these properties is acquiring a long-term, cash-flowing asset based on the presence of a highly-stable tenant roster.” 

Located within close proximity to US Route 50 (John Mosby Highway), the 15100 and 15120 Enterprise Court are situated immediately south of Washington Dulles International Airport and are near the National Reconnaissance Office. VA Route 28 is several minutes away, and downtown Washington, D.C. is approximately thirty miles from the site.

Finmarc Management, Inc. is a fully-integrated commercial real estate company that focuses on the 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 manages a diverse portfolio of more than 100 properties encompassing more than six million square feet of space situated in Maryland, Washington, D.C., Virginia, Delaware, New Jersey and Pennsylvania. For additional information, visit www.finmarc.com