Finmarc Continues Maryland Expansion

Finmarc Management, Inc. has recently made another acquisition in the state of Maryland.
Rumsey Center

Rumsey Center

Finmarc Management, Inc. has recently made another acquisition in the state of Maryland. The Bethesda-based commercial real estate company is now the new owner of the four-building Rumsy Road portfolio in the Columbia section of Howard County.

Finmarc paid $15.75 million to buy the four flex/office buildings from Frist Potomac Realty Trust. Transwestern’s Mark Glagola and Joe Friedman represented the seller in the transaction.

The portfolio is located at 9150, 9160, 9170 and 9180 Rumsey Road, within immediate access to Interstate 95 and Maryland Routes 100 and 29, and close to the BWI airport and significant employment centers such as Fort George Meade, the School of Education at Johns Hopkins University and the central business district of downtown Columbia. The asset offers 135,000 square feet of space in single-story buildings with all-brick exteriors. According to the new owner, the properties are fully leased.

“The numerous barriers to entry that exist in the Howard County marketplace, including the absence of new inventory over the past ten years, combined with the historically-low vacancy rates, makes this an extremely strong long-term addition to our portfolio,” Marc Solomon, a Finmarc principal, explained in a prepared statement. He also added that his company intends to invest in various maintenance projects for the four buildings, which were originally constructed in 1980.

With this new acquisition, Finmarc, together with its partners, has acquired or disposed of more than $400 million worth of properties over the past two years.

Image via First Potomac Realty Trust