FINMARC MANAGEMENT SELLS TWO WAREHOUSE/INDUSTRIAL BUILDINGS IN FREDERICKSBURG, VA FOR $4.145 MILLION
Posted on: 10/02/2020

Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm, has announced the sale of two warehouse/industrial buildings comprising 51,000 square feet of space to Juliad Holdings LLC for $4.145 million. Situated at 115 and 119 Juliad Court in Fredericksburg, Virginia, the assets were leased to four tenants at the time of the disposition. Finmarc was represented by Caulley Deringer and Andrew Hassett of Transwestern and the buyer was represented by Jonathan Gardner of Coldwell Banker Commercial Elite. Joseph Hoffman of Kelley Drye & Warren provided legal services on behalf of the seller.

The two assets were part of a larger fifteen-building portfolio encompassing more than 750,000 square feet of industrial and warehouse space which the company acquired from Stewart Investment Company in early 2017. This portfolio was predominantly contained within the Featherstone Industrial Park in Woodbridge, Virginia but also included the two buildings in Fredericksburg.

The buildings are located immediately adjacent to VA Route 17 (Warrenton Road) and are within close proximity to Interstate 95. Dulles International Airport is situated approximately 55 miles to the north, Washington, D.C. is 50 miles from the site and Richmond, Virginia is located 52 miles to the south.  

“Throughout our nearly three-year hold period, we successfully executed asset management activities and sustained healthy leasing levels to preserve the value of these buildings,” stated Sean Sullivan, Vice President of Finmarc Management. “Our decision to dispose these assets was largely predicated on a geographical analysis of our portfolio, and the realization that we lacked a critical mass of properties in Fredericksburg. With the sustained demand for high-quality and strategically-located warehouse/industrial product along the Interstate 95 corridor throughout the Mid-Atlantic region, the buyer has acquired two flexible buildings that we expect to perform extremely well and build value in the future.”

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