Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Finmarc Management Acquires Raleigh Retail Center for $58M
Bethesda, MD-based Finmarc Management, Inc., has purchased Plantation Point Shopping Center, a 383,000-square-foot retail complex in Raleigh, for the price of $58 million.
Bill Kent, Mike Burkard and Ryan Sciullo of CBRE represented the seller, and Finmarc Management was self-represented in the transaction.
The 2006-constructed Plantation Point was 91% leased and occupied at the time of the transaction and is approved for another 40,000 square feet of expansion space.
Finmarc Management presently owns and manages a portfolio of more than six million square feet of commercial properties situated throughout the mid-Atlantic and now, with this purchase, NC. The company intends to acquire $200 million worth of commercial real estate assets in NC over the next year.
“We have been tracking the steady population growth and continued strength of the greater Raleigh area for several years and identified the perfect asset for our entry into the market,” explained Finmarc Management principal Neil Markus.
