Posted on: 10/02/2020

Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm, has announced the sale of the Reston Business Campus, a four-building portfolio comprised of approximately 83,000 square feet of commercial office/flex space to 10th Street LLC for $13 million. The assets, located at 12320, 12330, 12340 and 12350 Pinecrest Drive in Reston, Virginia were 95% leased and occupied at the time of the disposition.

The four assets 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 for $96 million.    

Finmarc increased occupancy from 78% to 95% within the four single-story office buildings, located within close proximity to Fairfax County Parkway and the Dulles Toll Road in Reston, during the nearly four-year hold period. Major tenants contained within the portfolio include Distribution Solutions, Goldfish Swim, Ideaventions and Kiddie Academy.

“This sale represents another successful execution of our long-term plan to build value in and dispose of selective properties to fund future acquisition opportunities,” explained Sean Sullivan, Vice President of Finmarc Management. “Our leasing team identified tenants that matched the neighborhood profile and satisfied the need for family-oriented services in the greater Reston area, which enabled us to substantially elevate leasing and stabilize the assets. The new owners acquired an excellently maintained cash-flowing portfolio with a significant portion of the tenancy locked into long-term leases. The above-average demographics surrounding the region, and the opening this year of a nearby Metro Station on the Silver line, will continue to fuel business and residential growth. With this available capital, Finmarc intends to seek new investment opportunities throughout the Mid-Atlantic corridor.”        

Joseph Hoffman of Kelley Drye & Warren provided legal services on behalf of the seller. 

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