Finmarc Sells DC-Area Flex Asset

Finmarc Management has sold 8000 Grainger Court, an 88,000-square-foot flex/warehouse facility in Springfield, Va., to C2 Imaging for $15.9 million. Savills Executive Managing Director Wendy Feldman Block assisted the buyer. Finmarc had in-house representation, with legal services provided by Kelley Drye Warren Partner Aaron Rosenfeld.

The new owner, the commercial printing division of Vomela Cos., has been fully occupying the asset since 2022. The property is part of Virginia 95 Business Park, an 11-building campus totaling about 740,000 square feet of flex/office, data center and industrial space that traded two years ago for $127.5 million. The 8000 Grainger building sold for $10.5 million, according to CommercialEdge data.

The 1983-completed building comprises about 64,000 square feet of office and 25,000 square feet of industrial space. Features include two stories with 44,475-square-foot floorplates, two passenger elevators and some 190 parking spaces.

Located less than 2 miles from the Saratoga shopping center, the facility provides easy access to Interstate 90 and Fairfax County Parkway. Downtown Springfield is 4 miles away, while downtown Washington, D.C., is 18 miles northeast.

D.C.’s rocky industrial sector

According to CommercialEdge information, some 220 facilities traded last year in the Washington, D.C., market for a combined $1.4 billion, a considerable decline from the 332 assets that changed hands in 2022 for $1.9 billion.

In one of last year’s deals, TF Cornerstone acquired 95 Distribution Center, a 486,720-square-foot industrial facility in Fredericksburg, Va., for $79.5 million. Blue Vista Capital Management and CSG Partners sold the asset.