{"id":1004109029,"date":"2014-12-07T21:10:40","date_gmt":"2014-12-08T05:10:40","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=311321"},"modified":"2020-05-12T01:41:57","modified_gmt":"2020-05-12T09:41:57","slug":"finmarc-buys-laurel-commerce-center-for-6m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-laurel-commerce-center-for-6m\/","title":{"rendered":"Finmarc Buys Laurel Commerce Center for $6M"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<div id=\"attachment_311322\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/12\/14709-Baltimore-Avenue.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-311322\" title=\"14709 Baltimore Avenue\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/12\/14709-Baltimore-Avenue.jpg\" alt=\"\" width=\"300\" height=\"206\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Laurel Commerce Center<\/p>\n<\/div>\n<p style=\"text-align: justify;\">Finmarc Management Inc. recently announced the acquisition of another commercial property in the Greater Washington, D.C., area. The Bethesda-based commercial real estate firm purchased the Laurel Commerce Center for $6 million.<\/p>\n<p style=\"text-align: justify;\">The property was constructed in 1986 at 14709 Baltimore Ave. It offers 58,609 square feet of industrial space and is home to a mix of automobile-related retailers and repair service companies. According to Finmarc, the Laurel Commerce Center was fully leased at the time of the sale, to 13 tenants.<\/p>\n<p style=\"text-align: justify;\">Finmarc Management was self-represented in the transaction. Nathan Pealer of Marcus &amp; Millichap represented the seller, Laurel Commerce Center L.P., an entity controlled by the Fernebok family.<\/p>\n<p style=\"text-align: justify;\">\u201cOur team is extremely impressed with the retail and business momentum derived from the Prince George\u2019s County marketplace over the past several years,\u201d Marc Solomon, Finmarc principal, said in a statement for the press. \u201cThe MD Route 1 corridor remains a dense and highly traveled region. Projects such as the recently improved Towne Centre at Laurel encourage new businesses and residents to enter the market, and subsequently increases consumer and business traffic in our trade area. We are constantly searching for new acquisition opportunities to expand our portfolio.\u201d<\/p>\n<p style=\"text-align: justify;\">Together with its partners, Finmarc has acquired or disposed of more than $520 million worth of properties in the past two-and-a-half years. In 2014, it purchased a nine-building portfolio in Gaithersburg for $33 million and the <a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/washington-dc\/finmarc-management-acquires-two-building-150000-sf-office-portfolio-in-alexandria-for-31-5m\/1004100124.html#viewed\" ><em>Waterfront Center I and II<\/em><\/a> office buildings for $31.5 million. It also sold the GSA-leased <a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/washington-dc\/finmarc-management-sells-library-of-congress-occupied-property\/1004092072.html#viewed\" ><em>Library of Congress Landover Center Annex<\/em><\/a> for $31.7 million.<\/p>\n<p style=\"text-align: justify;\">Finmarc won\u2019t stop here. The company plans to invest an additional $10 million this year to buy other properties.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <a href=\"https:\/\/maps.google.com\/\" rel=\"nofollow\" >Google Maps<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finmarc Management, Inc. has recently announced the acquisition of another commercial property in the Greater Washington, D.C. area. The Bethesda-based commercial real estate firm has purchased the Laurel Commerce Center for $6 million.<\/p>\n","protected":false},"author":925,"featured_media":1004505851,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[],"class_list":["post-1004109029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Finmarc Buys Laurel Commerce Center for $6M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-laurel-commerce-center-for-6m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finmarc Buys Laurel Commerce Center for $6M\" \/>\n<meta property=\"og:description\" content=\"Finmarc Management, Inc. has recently announced the acquisition of another commercial property in the Greater Washington, D.C. area. 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