Finmarc Management, headquartered in Bethesda, has announced the sale of a two-story office building in Gaithersburg for nearly $4.35 million on Tuesday.
Identity Inc. acquired the property, which was part of a larger portfolio consisting of nine buildings totaling approximately 342,000 square feet. Finmarc had initially acquired the entire portfolio, comprising flex/office, commercial office, retail, and warehouse space, from First Potomac Realty Trust in 2014 for $33 million
Situated at 620 E. Diamond Avenue, the sold building offers around 25,000 square feet of flexible and office space and occupies a 1.98-acre parcel of land.
Identity, a nonprofit organization, manages four high school Wellness Centers and two Youth Opportunity Centers in Montgomery County. The organization has strategic plans to move its headquarters and approximately 50 employees to the property at 620 E. Diamond Avenue later this year. Currently, Identity’s headquarters is situated nearby at 415 E. Diamond Avenue.
The organization offers a comprehensive range of programs and services dedicated to promoting the physical, social, emotional, and mental well-being of Latino and other historically underserved youth throughout their high school years.