Asset located within same business community, Featherstone Industrial Park, in which Finmarc Management acquired 15-building portfolio earlier this year
Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm, has announced the acquisition of 14999 Farm Creek Drive, a 37,000 square foot industrial building from a private seller for $2.7 million. The asset is contained within the same business community – Featherstone Industrial Park – in which Finmarc acquired a fifteen-building, 750,000 square foot industrial and warehouse portfolio earlier this year. Tony Russo of CBRE represented the seller in this transaction.
The building features ceiling heights that range between seventeen and twenty feet, drive-in dock doors, outdoor storage space and a free surface parking lot. Contained on approximately 3.2 acres of land, the asset is presently 77% leased and occupied.
“This represents the continuation of our acquisition program within the Prince William East submarket and we believe this asset complements and adds value to our existing portfolio in Featherstone Industrial Park,” stated Sean Sullivan, Vice President of Finmarc Management. “We have an extensive understanding of this market and foresee the continuation of leasing to companies with diverse distribution and logistics requirements servicing the greater Washington, D.C. and Northern Virginia areas. We achieved this acquisition below replacement cost.”
The Featherstone Industrial Park is situated approximately twelve miles from Ft. Belvoir and fifteen miles from the Marine Corps Base in Quantico, and is directly adjacent to multiple exits along Interstate 95. Downtown Washington, D.C. is approximately twenty-five miles away and Dulles Washington International Airport is located approximately thirty miles from the site. The business community is positioned within close proximity to more than ten million square feet of retail space and 56% of the United States population is located within an overnight drive of the site.
With this acquisition, Finmarc currently owns and manages 92 office, flex, industrial and retail properties as well as several residential projects in the Mid-Atlantic area, totaling 6.7 million square feet of space.
Finmarc Management, Inc. is a fully-integrated commercial real estate company that focuses on real estate investment, management, leasing and development of retail, industrial/flex, and office properties throughout the Mid-Atlantic region. The firm presently owns and/or manages a diverse portfolio encompassing 6.7 million square feet of properties located in Maryland, Washington, D.C., Virginia, Delaware and Pennsylvania. For additional information, visit www.Finmarc.com
