Bethesda-based commercial real estate firm Finmarc Management, Inc. has acquired Riverview Plaza in Frederick, MD, for $30 million., the Frederick Pulse reports.
According to ConnectCRE, “The 185,275-square-foot regional shopping center is 95% leased and anchored by major retailers like TJ Maxx, Michaels, PetSmart, and Bob’s Discount Furniture. This purchase adds to Finmarc’s Frederick portfolio, which includes Frederick Corporate Park.”
The shopping center was built in 1998 and is located on Urban Pike. It’s considered a prime retail location and is close to major roadways and the Francis Scott Key Mall, while featuring Old Navy, Staples, Target; and more. Per the report, “the acquisition is part of Finmarc’s strategy to invest in institutional-quality assets with strong value-add potential in the Mid-Atlantic region.”
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