6A — February 23 - March 15, 2018 — Shopping Centers — M id A tlantic

Real Estate Journal


S hopping C enters

Friedman & Lawrence of MetCap Advisors handles sales transaction on behalf of buyer Finmarc Management, Inc. sells 80,000 s/f Gude Commerce Center in Rockville for $14.55 million B the parking lot; a new exterior façade and all new exterior and interior lighting.

County as evidenced by our acquisition last year of a four- building 130,000 s/f industrial complex on Southlawn Lane, as well as our other property holdings in this submarket. We maintain a tremendous amount of confidence in the long-term viability and health of this area,” Sullivan added. n Azarian Realty Co. hires Norkett MIDLAND PARK, NJ — John Azarian , owner of Azar- ianRealty Co. announced that leasing, property management, marketing and social media. Prior to joining Azarian Real- ty Co., he was a residential Re- altor with Weichert, Sotheby’s, and Terrie O’Connor’s. Douglas obtained his Real Estate Li- cense in 2016 and in just over one year was able to achieve many awards such as, Most Exclusive Listings, Top Sales in two consecutive months, Top Agent, and Most Million Dollar Listings. His top listings have been featured in the Wall Street Journal as well as Aspire Design and Home Magazine. He specialized in the luxury home market, investments, whole sales, and the conven- tional home market. Norkett’s prior experience in negotia- tions and the closing of deals throughout four different coun- ties in New Jersey makes him primed to be an excellent addi- tion to the Azarian team. n Douglas Norkett CBRE hires retail specialist Kerner SADDLE BROOK, NJ — CBRE has hired retail special- ist and industry veteran Ira Kerner as a first vice president in its Saddle Brook office. In his new role at CBRE, Kerner will service and advise retail clients on both the ten- ant and landlord sides, further enhancing the firm’s presence within the region’s retail sec- tor. Geographically, he will focus his efforts on Northern New Jersey, as well as on Rockland and Westchester Counties in New York. n he is adding to his rapidly e x p a n d i n g t e am w i t h t he h i r i ng of Douglas N o r k e t t . Norkett’s re- sponsibilities will include

ETHESDA, MD — Finmarc Manage- ment, Inc. has an- nounced the sale of the Gude Commerce Center, an 80,000 industrial/retail project build- ing located at 1011 E. Gude Dr. in the Rockville section of Mont- gomery County for $14.55 mil- lion. The buyer was California- based Berkeley Partners. Joe Friedman , managing director and Kelly Lawrence , senior associate of MetCap Advisors handled the sales transaction on behalf of Finmarc Manage- ment. After acquiring the com- pletely vacant asset in 2013,

Leasing was increased to 94% at the time of the sale, encom- passing nine tenants including the General Services Admin- istration, Mayorga Coffee and the Habitat for Humanity’s ReStore affiliate. “The new owner acquired a quality investment offering a stable tenant base, steady cash flow, low maintenance and his- torical rent appreciation,” stat- ed Sean Sullivan vice president of Finmarc Management. “Fin- marc remains extremely bullish on this section of Montgomery

Gude Commerce Center

Finmarc Management em- barked on a comprehensive renovation and improvement strategy, valued at more than $4 million, to transform the former Smith Litho printing building into a retail/flex proj- ect. The property is positioned

between Rockville Pike (MD Rte. 355) and Norbeck Rd. and is immediately adjacent to I-270 and the Intercounty Con- nector (MD Rte. 200). Capital improvements included all new electric, plumbing and HVAC systems; a new roof; repaving



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