Finmarc Acquires One Of NoVa's Largest Industrial Parks In $58M Deal
Finmarc Management struck a $58M deal to acquire one of NoVa's largest industrial parks.
The firm bought a 15-building industrial portfolio, including the Featherstone Industrial Park in Woodbridge and another property in Fredericksburg, from Steuart Investment Co. JLL's Marc Rampulla, Mark Levy and Jay Wellschlanger brokered the deal.
The portfolio comprises more than 750k SF of industrial space and is 91% leased. The 58-acre Featherstone Industrial Park sits on the edge of Occoquan Bay just off I-95 in Woodbridge, about 25 miles south of downtown DC. Its tenants include the General Services Administration and several moving and storage companies.
“We were attracted to the critical mass of this portfolio, coupled with our long-term optimism of the industrial and warehouse sector given the recent explosion of the e-commerce industry and accompanying expansion of same-day or next-day delivery models,” Finmarc principal Marc Solomon said in a release.
