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Finmarc Buys Two Theatres in Maryland, Virginia for $15M
Finmarc Management, Inc. has completed the $15.1 million acquisition of two retail properties leased by national movie theatre operators from real estate investment trust EPR Properties.
The assets include 6201 Multiplex Drive in Fairfax County, Virginia, which is fully leased by Cinemark Centreville and 7710 Matapeake Business Drive in Prince George’s County, Maryland, which is 100 percent leased by Xscape Theatres. Paul Norman, Jr. and John Owendoff of Cushman & Wakefield represented the seller in both transactions and Aaron Rosenfeld of Kelley Drye & Warren LLP provided legal services to Finmarc.
“Both theatre assets are institutional-quality properties, strategically located in areas exhibiting extremely strong population growth, and leased by high-performing national movie theatre operators,” stated Finmarc Principal Neil Markus. “
7710 Matapeake Business Drive is a 14-screen, 60,000 square foot building on a 10-acre site in Brandywine, Maryland. 6201 Multiplex Drive is a 12-screen, 72,821 square foot building in Centreville, Virginia, on a nearly 12.5-acre parcel and is 100 percent leased by Cinemark Centreville.
