MANASSAS, VA — Finmarc Management, Inc. has announced the acquisition of Manaport Plaza Shopping Center, a 250,000 s/f regional shopping center located at 8345-8443 Sudley Rd. in Manassas for $29.78 million. Anchored by Marshalls, Gabes, Ollies, Tuesday Morning, McKay Books, Advance Auto Parts, Dollar Tree and multiple additional retailers and restaurants, the asset was 90% leased at the time of the purchase and formerly owned by Combined Properties, Inc.
“This acquisition underscores our continuing research and analysis of Manassas, which demonstrates a sub-market with a consistently growing population and served by a tenant base perfectly suited for the surrounding neighborhood demographics,” said Sean Sullivan, vice president of Finmarc Management. “Manaport Plaza represents a long-term cash flowing asset that we were able to acquire at an extremely attractive going-in yield that is well below replacement cost. We intend to quickly lease the remaining few available spaces, stabilize the asset and position the center to achieve long-term value.”