Bethesda, Maryland-based commercial real estate firm, Finmarc Management, Inc., has announced the purchase of a 46,600 sqf flex/warehouse building in Gaithersburg, Maryland. The building traded for $4.95 million, or just over $106 per sqf. Located on Lindbergh Drive, the building stands on a 4.7 plot of land and was 90 percent leased at the time of the sale. Sandy Hunt of Scheer Partners representing the buyer and seller, 7419 Lindberg Drive, LLC., during the transaction. With the closing of this transaction Finmarc Management currently owns and manages seventy-four office, flex, industrial and retail properties as well as several residential projects totaling more than 5.8 million sqf of space.
“Acquiring this high-quality asset builds upon and leverages the value of the adjacent properties our team purchased earlier this year,” explained Marc Solomon a Principal of Finmarc. “We continually seek value-add opportunities in this sub-market based on the sustained strength of the industrial, warehouse and commercial office product categories. This flex/warehouse building is substantially leased by a creditworthy company, is excellently maintained and it was acquired at below replacement cost.”
