Finmarc Management, Inc. has recently acquired Riverview Plaza, a 185,275-square-foot regional shopping center in Frederick, MD for $30 million. The center boasts a strong tenant mix including TJ Maxx, Michaels, PetSmart and Bob’s Discount Furniture with additional shadow-anchors such as The Home Depot and Target. Currently at 95% occupancy rate,the acquisition marks Finmarc’s first retail property in Frederick to complement their existing Frederick Corporate Park location.
According to David Fink – co-founder and principal of Finmarc – the purchase aligns with the company’s goal of acquiring $250 million worth of real estate assets within the next 18 months. He further adds that Riverview Plaza is an institutional-quality shopping destination known for its high occupancy rates,tentant retention,and impressive sales figures even during challenging times like the pandemic.The center welcomed over four million shoppers last year alone.
This recent acquisition by Finmarc Management showcases their expertise in identifying lucrative investment opportunities while expanding their portfolio.Financial details were not disclosed but this move demonstrates confidence in Maryland’s retail market despite current economic challenges.This news was originally published on Connect CRE website.
