Washington DC + DC Metro + Office | March 8, 2023

Russell Plaza, LLC has completed its $4.1-million acquisition of 811 Russell Avenue, a 32,000-square-foot office in Gaithersburg, MD.

Finmarc Management Sells $4M Office in Gaithersburg’s Biotechnology Hub

Russell Plaza, LLC has completed its $4.1-million acquisition of 811 Russell Avenue, a 32,000-square-foot suburban office asset located in Gaithersburg, MD.

Joe Friedman, and Joshua Norwitz of Edge Commercial Real Estate (recently acquired by KLNB) teamed up with Ken Fellows with the firm’s landlord advisory team to represent the seller, an affiliate of Finmarc Management, Inc. Larry Rosen of Commercial & Investment Realty Associates, LLC represented the buyer.

811 Russell Avenue was built in 1997 and is situated in Gateway Center on 1.20 acres with a C-2 zoning. It is located within Montgomery Village and the broader Gaithersburg, which according to Edge Commercial Real Estate is known as an internationally recognized biotechnology hub.

“Montgomery Village is seeing tremendous interest from developers to redevelop and reposition underutilized land in a densely populated submarket of Montgomery County, located immediately off I-270 with a diverse employment base,” said Friedman. “There is a lot of runway for growth in the area,” he added.

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About Lisa McDuffie

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.

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