Posted on: 10/09/2019

Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm, has announced the sale of the Travilah Square Shopping Center, a 61,496 square foot shopping center located in the I-270 Tech Corridor section of Montgomery County, Maryland for $52.272 million to InventTrust Properties Corp. Situated at the intersection of Darnestown Road (MD Route 28) Travilah Road, the project consists of five separate buildings that contain a mixture of retail and commercial office space. (name) of CBRE represented the seller in this transaction.

Upon Finmarc’s acquisition of the shopping center in 2014 for $22.4, the company immediately embarked on a comprehensive renovation, improvement and re-tenanting strategy that infused a number of new tenants into the asset including a Trader Joe’s grocery store which opened within a 13,000 square feet of space in 2016. Additional tenants that Finmarc attracted to the center included restaurants Ledo Pizza and Pholuscious Vietnamese Grill and tenants Title Boxing Club and 7-11.

Improvements completed at Travilah Square focused on the installation of new exterior façades, the replacement of dated wood siding and lattice with patterned brick and steel detailing and the addition of a new canopy and modernized lighting and signage program. The surface parking lot was also resurfaced and re-striped. Finmarc also demolished a former building and replaced it with a new structure that was subsequently 100% leased by Trader Joe’s. A previous pad site structure formerly housing a Burger King restaurant was also removed, with a smaller retail building built in its place.         

“This significant value-add sale validates our team’s belief in the strong upside potential for Travilah Square Shopping Center following the execution of an aggressive leasing and property improvement strategy,” explained David B. Fink, Principal of Finmarc Management. “We were initially attracted to the asset based on its tremendous fundamentals, highlighted by affluent demographics that surround the center, including a strong daytime population of almost 100,000 people. Our team’s performance to reposition and subsequently sell the shopping center demonstrates our understanding of the local marketplace, coupled with the strong relationships we have cultivated in various disciplines including with national retailers.”

Originally constructed in 1988, Travilah Square Shopping Center is in close proximity to the University of Maryland Shady Grove campus, with almost 5,000 students, as well as within the Shady Grove Life Sciences Campus which includes 200 companies and more than 45,000 full-time employees.

More than 44,000 vehicles pass the site on a daily basis via Darnestown Road and Travilah Road, and more than 110,000 consumers reside within three miles of the project. It is also located less than two miles from Interstate 270, the major north-south commuter road that handles more than 200,000 vehicles each day.

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, and Pennsylvania. For additional information, visit