Upper Marlboro, Md. — Finmarc Management Inc. has sold Largo Town Center, a 280,000-square-foot retail center in the Upper Marlboro suburb of Washington, D.C., for $70 million. The investment firm purchased the shopping center in 2019 when it was 80 percent occupied.
John Donnelly of John C. Donnelly Inc. and Arthur Benjamin and Alex Alperstein of AdvisoRE LLC represented the buyer, an investment group led by Bethesda-based KPI Commercial LLC, in the transaction. Joseph Hoffman of Kelley Drye Warren provided legal services to Finmarc.
Tenants at the property include Marshalls, Shoppers Food Warehouse, Advanced Auto and Dollar Tree. During its ownership, Finmarc initiated capital improvements and executed multiple leases, including Burlington, Foot Locker and Urban Air Adventure, the latter of which is expected to open this fall.