Finmarc Management Inc. has completed the acquisition of the Virginia-95 Business Park from Boston Properties Inc. The property consists of data center buildings and industrial buildings. The purchase price is $127.5 million. The 740,000 square feet properties feature 11 buildings that comprise two-stories and single-stories. In addition, each building range from 27,000 sq ft to 105,000 sq ft. These buildings also sit on a 127-acre land located along Grainger Court, Corporate Court, and Boston Boulevard.
According to records, about 74% of the properties are being occupied. In addition, six of the 11 buildings are also 100% leased. Some of the tenants of the building include SAIC, Avaya, ADT Security Systems, and the US General Service Administration. The co-founder and principal of Finmarc, David Fink, said the acquisition is part of the company’s investment strategy of identifying and acquiring high-quality assets that will continue to increase in value.
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