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Ground Up

The Daily Record's real estate blog

College Park industrial campus sells for $6.2M

Finmarc Management has purchased the Stone Industrial Campus in College Park for $6.2 million.

The 17-acre campus, at 9207 51st Ave., consists of three buildings totaling 115,000 square feet of office, industrial and manufacturing space.

“We are considering all available options for this property to achieve the best and highest use, which range from maintaining its status as an industrial project to rezoning the site to support a new townhouse development,” said Sean Sullivan, vice president of Finmarc Management. “Because the buildings are presently unoccupied, we have a clean slate that presents an attractive opportunity to pursue alternative uses.”

The portfolio was renovated in 2007, and the area is zoned for heavy industrial use with a small portion of the property approved for residential development. Stone Industrial Campus is located about a mile from the University of Maryland, College Park, the Greenbelt Metro Station and the Discovery District, a $2 billion public-private partnership transforming the Baltimore Avenue corridor and campus into a research hub surrounded by a live, work and play community.

NAI KLNB’s Director of Investment Sales Christopher Kubler and Alan Coppola, a senior associate, brokered the deal.

“Finmarc Management was exactly the right buyer for this asset,” Kubler said. “With their entrepreneurial mindset and business acumen, the Stone Industrial Campus will prove an excellent investment for the new owners.”

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