Finmarc Drops $128M for 11-Building Flex/Office/Data Portfolio in Springfield
Bethesda, MD-based Finmarc Management, Inc., has acquired an 11-building portfolio comprising approximately 740,000 square feet of flex/office, industrial and data center space in Springfield, VA for $127.5 million.
Michael Zelin and Marshall Scanlon of Cushman & Wakefield procured the financing, Joe Hoffman and Aaron Rosenfeld of Kelley Drye & Warren provided legal services and Cliff Mendelson of Met Cap Advisors consulted.
Situated adjacent to Interstate 95 and Fairfax County Parkway, the buildings range from 27,000 to 105,000 square feet of space with six of the 11 currently 100% leased and occupied.
“We acquired this portfolio at below replacement cost and the in-place tenancy, which includes several federal government entities, will generate steady cash flow,” added Finmarc principal Neil Markus. “We believe well-located and best-in-class flex/office and industrial buildings situated in the outer ring suburbs will continue to flourish.”
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.