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Washington DC  + DC Metro  + Office  |  June 28, 2021
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By: David Cohen

Finmarc Snags Three-Building Virginia Office Portfolio for $34M

Finmarc Management has acquired Park East I, II and III, a three-building office park in Northern Virginia consisting of nearly 200,000 square feet of flex/office space. The sales price was $33.6 million.

Located on more than 23 acres of land, the property is currently 96% leased and also includes a nearly seven-acre land parcel that is suitable for a future development opportunity. Park East I is located at 14150 Parkeast Circle; Park East II is situated at 14048 Parkeast Circle and Park East III is positioned at 13990 Parkeast Circle. Each building features both drive-in and dock-high loading options and free on-site parking and the park is landscaped and includes walking paths. Tenants include American Systems Corp., the Fairfax County Board of Supervisors and United Bank.

Eric Berkman of Cushman & Wakefield represented the seller, PS Business Parks, in the transaction. Joe Hoffman of Kelley Drye & Warren provided legal services to Finmarc.

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CushWake’s Berkman

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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