{"id":1004725352,"date":"2024-08-14T02:55:40","date_gmt":"2024-08-14T10:55:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004725352"},"modified":"2024-08-26T03:25:26","modified_gmt":"2024-08-26T11:25:26","slug":"finmarc-buys-500-ksf-virginia-office-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/","title":{"rendered":"Finmarc Acquires DC-Area Portfolio"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004725355\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/trinitycenter\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1709224168&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"TrinityCenter\" data-image-description=\"&lt;p&gt;The office campus at 5860, 5870, 5875 and 5885 Trinity Parkway in Centreville, Va.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Trinity Centre came online between 1999 and 2006 and was 71 percent leased at the time of sale. Image courtesy of Finmarc Management&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg\" alt=\"The office campus at 5860, 5870, 5875 and 5885 Trinity Parkway in Centreville, Va.\" class=\"wp-image-1004725355\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">Trinity Centre came online between 1999 and 2006 and was 71 percent leased at the time of sale.<em> Image courtesy of Finmarc Management<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Finmarc Management has acquired Trinity Centre, a four-building office portfolio totaling almost 500,000 square feet in Centreville, Va., a Washington, D.C., submarket. Spear Street Capital LLC and Partners Group sold the assets for $39.4 million.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield brokered the deal on behalf of the seller, while Finmarc was represented in-house. Kelley Drye &amp; Warren LLP Partner Aaron Rosenfeld provided legal services to the new owner. The portfolio was 71 percent leased at the time of sale.<\/p>\n\n\n\n<p>The four buildings previously traded in 2012 in two separate transactions, when the joint venture acquired them from Clark Enterprises, CommercialEdge data shows. The total sale price was $108.5 million, almost three times higher than the current price.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/strong-start-for-dc-office-sales-other-fundamentals-lag\/\">Strong Start for DC Office Sales, But Other Fundamentals Lag<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The properties came online between 1999 and 2006 and underwent cosmetic renovations in 2013, according to the same source. Two of the buildings rise six stories and consist of almost 152,000 square feet, each. The other two rise three stories, each one comprising 93,000 square feet.<\/p>\n\n\n\n<p>The campus\u2019 tenant roster includes Parsons Corp., CARFAX, Microautomation and Specialized Carriers &amp; Rigging Association. Trinity Centre is also part of a 70-acre master-planned community that includes three restaurants, a 100,000-square-foot fitness center, a 136-key hotel and a lake.<\/p>\n\n\n\n<p>Located at 5860, 5870, 5875 and 5885 Trinity Parkway, the buildings are less than 13 miles from Dulles International Airport, while downtown Washington, D.C., is 26 miles northeast.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-dc-sales-volume-ranks-second-nationwide\">DC sales volume ranks second nationwide<\/h2>\n\n\n\n<p>In the first six months of 2024, Washington, D.C.&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-office-transactions\/\">office investment volume<\/a> amounted to more than $1.3 billion, with properties trading for an average of $250 per square foot, the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/office-loan-delinquencies-rise-as-market-shifts-in-2024\/\">CommercialEdge office report<\/a> shows. The metro&#8217;s deal volume ranked second nationally, being surpassed only by Manhattan&#8217;s ($1.4 billion).<\/p>\n\n\n\n<p>In March, a joint venture led by <a href=\"https:\/\/www.commercialsearch.com\/news\/quadrangle-jv-pays-95m-for-dc-office-asset\/\">Quadrangle Development Corp. paid $95 million<\/a> for a 177,155-square-foot office building in Washington, D.C. Credit Suisse sold the property at 1099 New York Ave. NW.<\/p>\n\n\n\n<p>Other recent notable deals in the area include <a href=\"https:\/\/www.commercialsearch.com\/news\/dsc-partners-jv-pays-86m-for-dc-portfolio\/\">DSC Partners and Harbert Management Corp.\u2019s acquisition<\/a> of a 785,000-square-foot portfolio in Lanham, Md., for $86 million. The assets include industrial, flex and office space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The assets traded for about one-third of their previous sale price.<\/p>\n","protected":false},"author":3355,"featured_media":1004725355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,11,21742,21747,1615],"tags":[32799,34253,33268,33392],"class_list":["post-1004725352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midatlantic","category-latest","category-office","category-washington-dc","tag-cushman-wakefield","tag-finmarc-management-inc","tag-partners-group","tag-spear-street-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Finmarc Acquires DC-Area Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Finmarc Management acquired Trinity Centre, a four-building portfolio near Washington, D.C., in a $39.4 million deal.\" \/>\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-500-ksf-virginia-office-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finmarc Acquires DC-Area Portfolio\" \/>\n<meta property=\"og:description\" content=\"Finmarc Management acquired Trinity Centre, a four-building portfolio near Washington, D.C., in a $39.4 million deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-14T10:55:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-26T11:25:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/\",\"name\":\"Finmarc Acquires DC-Area Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg\",\"datePublished\":\"2024-08-14T10:55:40+00:00\",\"dateModified\":\"2024-08-26T11:25:26+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"Finmarc Management acquired Trinity Centre, a four-building portfolio near Washington, D.C., in a $39.4 million deal.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg\",\"width\":1000,\"height\":750,\"caption\":\"Trinity Centre came online between 1999 and 2006 and was 71 percent leased at the time of sale. Image courtesy of Finmarc Management\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Finmarc Acquires DC-Area Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\",\"name\":\"Vicentiu Fusea\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"caption\":\"Vicentiu Fusea\"},\"description\":\"Vicentiu Fusea is an associate editor with Commercial Property Executive and Multi-Housing News. He has joined the CPE-MHN team in 2023. Vicentiu writes stories mainly focusing on the student housing, office and MOB markets. You can reach out to him at vicentiu.fusea@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/vicentiu-fusea\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Finmarc Acquires DC-Area Portfolio - Commercial Property Executive","description":"Finmarc Management acquired Trinity Centre, a four-building portfolio near Washington, D.C., in a $39.4 million deal.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/","og_locale":"en_US","og_type":"article","og_title":"Finmarc Acquires DC-Area Portfolio","og_description":"Finmarc Management acquired Trinity Centre, a four-building portfolio near Washington, D.C., in a $39.4 million deal.","og_url":"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-08-14T10:55:40+00:00","article_modified_time":"2024-08-26T11:25:26+00:00","og_image":[{"width":1000,"height":750,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg","type":"image\/jpeg"}],"author":"Vicentiu Fusea","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/","url":"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/","name":"Finmarc Acquires DC-Area Portfolio - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg","datePublished":"2024-08-14T10:55:40+00:00","dateModified":"2024-08-26T11:25:26+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412"},"description":"Finmarc Management acquired Trinity Centre, a four-building portfolio near Washington, D.C., in a $39.4 million deal.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg","width":1000,"height":750,"caption":"Trinity Centre came online between 1999 and 2006 and was 71 percent leased at the time of sale. Image courtesy of Finmarc Management"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/finmarc-buys-500-ksf-virginia-office-portfolio\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Finmarc Acquires DC-Area Portfolio"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412","name":"Vicentiu Fusea","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g","caption":"Vicentiu Fusea"},"description":"Vicentiu Fusea is an associate editor with Commercial Property Executive and Multi-Housing News. He has joined the CPE-MHN team in 2023. Vicentiu writes stories mainly focusing on the student housing, office and MOB markets. You can reach out to him at vicentiu.fusea@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/vicentiu-fusea\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/TrinityCenter.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004725352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3355"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004725352"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004725352\/revisions"}],"predecessor-version":[{"id":1004726685,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004725352\/revisions\/1004726685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004725355"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004725352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004725352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004725352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}