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.