Washington DC CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Washington DC  + Maryland  + Office  | 

Finmarc Sells Gaithersburg Office Building 

Finmarc Management has sold a two-story building in Gaithersburg, Maryland, containing around 25,000 square feet of flex/office space, to non-profit organization Identity for nearly $4.35 million.  

The asset was part of a nine-building portfolio purchased by Finmarc in 2014. The building, situated on a 1.98-acre parcel, was 50% occupied at the time of the sale. Identity plans to relocate its headquarters and around 50 employees to the property.  

Ken Fellows and Rob Pugh of KLNB represented the seller and Jhon Pacheco of CBRE represented the buyer in this sales transaction. “A rapidly-rising interest rate environment brought investment sales activity to a virtual standstill last year. But, prospects of lower benchmark rates, pent-up demand, and our team’s ability to identify value-add opportunities in various asset classes positions us as preferred buyers in the year ahead,” said David Fink, principal of Finmarc. 

Read More News Stories About: CBRE
Connect

Inside The Story

Ken Fellows

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

  • ◦Sale/Acquisition