Finmarc bought the portfolio because of its “critical mass” and its long-term optimism in the industrial and warehouse sector given the recent explosion of the e-commerce industry and its need for same-day or next-day delivery models, according to Solomon. “There continues to be an enormous appetite among companies to maintain large distribution centers near major population centers to achieve its logistics objectives,” he said in a prepared statement.

WOODBRIDGE, VA–Bethesda, Md.-based Finmarc Management has acquired a fifteen-building industrial portfolio from Stewart Investment Co. for $58 million — a purchase price that Finmarc principal Marc Solomon says was below replacement cost.

The 750,000 square foot portfolio is located along the Interstate 95 corridor in Northern Virginia and primarily situated within the Featherstone Industrial Park.

The portfolio, which also includes a property in Fredericksburg, Va., has more than twenty-five tenants and is 91% leased. It encompasses fifty-eight acres and is considered among the largest industrial parks in the Northern Virginia region. In particular, Featherstone Industrial Park accounts for approximately 40% of all warehouse and distribution space in the Prince William East submarket.

Marc Rampulla, Mark Levy and Jay Wellschlanger of JLL were the brokers of record for this deal.

Finmarc bought the portfolio because of its “critical mass” and its long-term optimism in the industrial and warehouse sector given the recent explosion of the e-commerce industry and its need for same-day or next-day delivery models, according to Solomon. “There continues to be an enormous appetite among companies to maintain large distribution centers near major population centers to achieve its logistics objectives,” he said in a prepared statement.