Finmarc Management, Inc. has sold a flex and office building and adjacent land within Park East Corporate Center in Chantilly, Virginia, to Pulte Homes in a $26.36 million transaction. The disposition includes an 83,300-square-foot single-story flex and office building and a 6.4-acre parcel, both positioned within the Park East business park.
Finmarc originally acquired the three-building Park East Corporate Center in 2021. The park totals nearly 200,000 square feet of flex and office space across its three assets. The sale to Pulte Homes involves Park East III, the single-story building located at 13990 Parkeast Circle, along with the neighboring land. Following this transaction, Finmarc continues to own the remaining two buildings in the business community.
Cushman & Wakefield represented Finmarc in the sales process. The assignment was handled by Brendan May and Paul Norman of Cushman & Wakefield, who were responsible for marketing the property and negotiating terms on behalf of the seller. Legal services for Finmarc were provided by Aaron Rosenfeld of Kelley Drye & Warren LLP in connection with the closing of the sale.
Pulte Homes plans a residential redevelopment across the combined sites, which total approximately 14 acres. The homebuilder intends to deliver 183 homes, comprising 96 two-by-two townhomes, 32 condominium flats, and 30 20-foot townhomes. As part of the planned program, Pulte Homes also expects to include 25 affordable and workforce dwelling units within the overall housing mix, using the available acreage to introduce a range of for-sale residential options.
The conversion of Park East III and the adjacent land from flex and office use to residential development represents a shift in how space within Park East Corporate Center will be used going forward. While Finmarc retains ownership of the remaining two buildings in the park, Pulte Homes’ acquisition marks a notable change in the composition of the corporate center, with a portion transitioning from commercial to housing.
The transaction reflects ongoing interest from residential developers in sites historically occupied by office and flex assets, particularly those that can support multi-product housing programs and incorporate affordable or workforce components. The deal also underscores continued capital flows into for-sale residential projects, even as legacy office properties in some submarkets find new uses under different ownership.
