FINMARC MANAGEMENT, INC. COMPLETES $80.625 MILLION SALE OF 383,000 SQUARE FOOT CAPITAL MARKETPLACE IN RALEIGH, NORTH CAROLINA

FINMARC MANAGEMENT, INC. COMPLETES $80.625 MILLION SALE OF 383,000 SQUARE FOOT CAPITAL MARKETPLACE IN RALEIGH, NORTH CAROLINA
Posted on: 26/05/2026

Finmarc Management, Inc., a commercial real estate investment and management firm headquartered in Bethesda, Maryland, has executed the $80.625 million sale of Capital Marketplace, a 383,000 square foot super-regional shopping center located in Raleigh, North Carolina, to Principal Financial Group, a global financial company headquartered in Des Moines, Iowa. Finmarc acquired the asset, then known as Plantation Point Shopping Center, in late 2021, and during the company's five-year hold period, elevated occupancy to 97.5 percent. CBRE's Adam Russ, Erin Varol, Ryan Sciullo, and Casey Smith represented the seller. Aaron Rosenfeld of Kelley Drye & Warren LLP provided legal services to Finmarc.

Proceeds generated from this sale will help fund Finmarc's objective to purchase up to $400 million of commercial real estate assets in 2026. The company, which owns and manages a more than 7 million square foot portfolio in Maryland, Washington, D.C., Virginia, Delaware and Pennsylvania, remains aggressive in its search for core and value-add office, retail, flex/office and warehouse/industrial properties. Targeting metropolitan regions in the Mid-Atlantic, including Washington, D.C., Philadelphia, and Richmond, as well as Pittsburgh and North Carolina, Finmarc has ample reserves to fund the acquisition activity internally.

"Recognizing the increased volume of institutional capital flowing into the retail asset class, we proactively pursued the sale of a core retail asset featuring multiple strong anchor tenants on long-term leases," stated Sean Sullivan, Finmarc's Executive Vice President. "The sale marks the successful execution of our strategy that entails stabilizing tenancy, implementing asset management protocols to maximize operational efficiencies, and significantly increasing the value of Capital Marketplace with tenant renewals. This outcome showcases the talents and capabilities of our vertically-integrated leasing and asset management teams."

Delivered in 2006 and situated on just over 53 acres, Capital Marketplace fronts Capital Boulevard (US Route 1), Old Wake Forest Road and Ruritania Street, and features visibility from all three roads, as well as from Interstate 540. The asset is anchored by Bob's Discount Furniture, BJ's Wholesale Club, Burlington, Dollar Tree, LA Fitness and ParTee Shack and includes a mix of national and local retailers in the apparel, education, entertainment, financial, grocery, health and wellness, personal services and restaurant categories. A free surface parking lot can accommodate nearly 2,000 vehicles. More than 2.6 million people visit the shopping center annually, with an average dwell time of 46 minutes.

Capital Marketplace serves a primary trade area of more than 200,000 residents over a five-mile radius, with an average household income approaching $130,000 and an average home value exceeding $510,000. By 2029, the population is expected to rise to nearly 215,000 people and the average household income is projected to increase to nearly $142,000. Nearly 2.2 million people reside within the greater Raleigh-Durham-Chapel Hill region, also known as "Research Triangle," and with the population expected to grow to more than 2.3 million people by 2030, the growth rate is among the fastest in the United States.

Late last year, Finmarc executed a long-term lease with Bob's Discount Furniture at Capital Marketplace, representing the national furniture retailer's entry into the Raleigh market and adding to the center's significant percentage of destination-oriented retailers, which draw consumers from a wide radius. More than 71,000 vehicles pass the site each day via Capital Boulevard, and more than 80,000 vehicles traveling along Interstate 540 drive by the center.

"The underlying fundamentals of the central North Carolina region, including a rapidly-expanding life sciences presence in the Research Triangle, a highly-educated workforce with disposable income levels exceeding the national average, a business-friendly economic climate, and several Tier-1 research universities, were significant factors in our decision to invest in this region five years ago," Sullivan added. "We remain committed to uncovering compelling value-add opportunities in the region that match our long-term acquisition strategy."

Finmarc Management, Inc. is a fully integrated commercial real estate company that focuses on real estate investment, management, leasing and development of retail, industrial/flex, and office properties throughout the Mid-Atlantic region. The firm presently owns and manages a portfolio encompassing nearly 7.5 million square feet of commercial properties located in Maryland, Washington, D.C., Virginia, Delaware, Pennsylvania, and North Carolina. For additional information visit https://www.finmarc.com