Finmarc Management, Inc., a commercial real estate firm based in Bethesda, MD, has acquired Riverview Plaza in Frederick, MD, for $30 million. 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.
“Riverview Plaza in an institutional-quality regional shopping center with a proven track record of high occupancy, tenant retention and strong sales,” said Finmarc’s co-founder and principal David Fink.
The center, built in 1998, is located on Urban Pike and features retailers such as Staples, Sierra, and Old Navy. Riverview Plaza is considered a prime retail location in Frederick, close to major roads and the Francis Scott Key Mall. The acquisition is part of Finmarc’s strategy to invest in institutional-quality assets with strong value-add potential in the Mid-Atlantic region.