Comprising approximately 123,000 square feet of space, buildings located on North Horners Lane and Mason Drive in Rockville are 100% leased and occupied
655 N. Horners Lane
Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm, has announced the acquisition of a four-building portfolio comprising approximately 123,000 square feet of warehouse and manufacturing space in the Rockville section of Montgomery County for $8.6 million. Located on 627-649-655 North Horners Lane and 202 Mason Drive and known as the EU Services Buildings, the portfolio is 100% leased and occupied to Envelopes Unlimited. Jay Clogg of Jay Clogg Realty Group, Inc. represented the seller in this transaction and he has also been selected by Finmarc as the exclusive leasing broker.
The single-story buildings are outfitted with ceiling heights ranging from fourteen to twenty-four feet, contain multiple loading docks and drive-in doors and are surrounded by a free surface parking lot that can accommodate approximately 120 vehicle spaces.
EU Services Aerial
The portfolio is positioned within close proximity to MD Route 355 with access to Interstates 270 and 200 approximately three miles away from the site. Washington Dulles International and Baltimore-Washington International Airports can be accessed in approximately thirty minutes and the commercial business district of Washington, D.C. is less than 25 miles away.
“The EU Services Buildings are positioned within an extremely dense and well-traveled industrial corridor in the Rockville submarket, and we achieved this acquisition significantly below replacement cost,” stated Sean Sullivan, Vice President of Finmarc Management. “Our team is extremely familiar with the market, based on additional holdings within our portfolio including properties on both E. Gude Drive and N. Stonestreet Avenue. The leasing activity and tenant interest remains brisk throughout this area. This represents an opportunistic acquisition for our company and we intend to achieve long-term value.”
With this acquisition, Finmarc currently owns and manages 93 office, flex, industrial and retail properties as well as several residential projects in the Mid-Atlantic area, totaling 6.8 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 6.8 million square feet of properties located in Maryland, Washington, D.C., Virginia, Delaware and Pennsylvania. For additional information, visit www.Finmarc.com
