A two-building industrial property on Lindberg Drive in Gaithersburg has changed hands for $10.2 million, with Rockville-based National Technology Integrators buying the site and planning to occupy it. The sale closed this month and more than doubles the price the previous owner paid for the property back in 2016.
Bethesda-based Finmarc Management Inc. announced the sale of the roughly 46,000-square-foot property at 7419 Lindberg Drive, according to the Maryland Daily Record. The site includes a 31,526-square-foot flex/warehouse building and a 14,483-square-foot storage building, both constructed in 1986, plus 20,000 square feet of industrial outdoor storage land. National Technology Integrators, a national IT, security and audiovisual contractor headquartered in Rockville, is based at 40 W. Gude Drive and provides design-build services including audio/video integration, low-voltage cabling, networking and mission-critical support, according to National Technology Integrators.
A Decade-Long Investment Pays Off
Finmarc originally bought the Lindbergh Drive building in July 2016 for $4.95 million from 7419 Lindberg Drive, LLC, meaning this month's $10.2 million sale reflects value appreciation of more than 106% over ten years, according to Finmarc Management. At the time of that original purchase, the property was 90% leased with building materials distributor Allied Building Supply as its anchor tenant, before the site eventually became vacant ahead of this year's sale. Finmarc also acquired two adjacent warehouse buildings at 7500 and 7510 Lindbergh Drive totaling more than 66,000 square feet for $9.2 million.
Finmarc Executive Vice President Sean Sullivan said the sale executed the firm's strategic long-term plan to dispose of selective properties and redeploy capital into future acquisitions. Sullivan said the new owner acquired an institutional-quality asset in a submarket with shrinking product supply, and noted that industrial outdoor storage land is in high demand and extremely hard to find and control near major population centers, adding to the property's marketability. The property sits near Woodfield Road and Airpark Road, giving it direct access to Montgomery County Airpark, the Intercounty Connector, Interstate 370 and the Shady Grove Metro Station, per the same Finmarc materials describing the original 2016 purchase.
Why Industrial Land Commands a Premium
Sullivan's comments point to the importance of supply in industrial real estate. Clarion Partners has discussed supply conditions and cap-rate premiums across the broader U.S. industrial market. That scarcity is partly a function of local policy: the Montgomery County Planning Department has found that government policies rarely increase the total acreage zoned for industrial use, creating a fixed supply cap that intensifies competition for existing industrial land in the county.
Finmarc typically targets well-located but underperforming properties with leasing vacancies, viewing those gaps as opportunities to build value through leasing and asset management before eventually selling. The Lindberg Drive deal fits a pattern the firm has followed elsewhere in Gaithersburg. In January 2024, Finmarc sold a two-story, 25,000-square-foot flex/office building at 620 E. Diamond Avenue to local youth services nonprofit Identity, Inc. for nearly $4.35 million, according to Patch, continuing the firm's strategy of selectively divesting Gaithersburg assets to free up capital.
Owner-Occupier Trend Takes Hold
National Technology Integrators plans to fully occupy both structures on the Lindberg Drive property, according to The MoCo Show, which reported this week that both buildings were vacant when the deal closed. The move makes National Technology Integrators an owner-occupier of the flex and warehouse property.
Finmarc, which manages nearly 7.5 million square feet of commercial space across Maryland, Washington, D.C., Virginia, Delaware, Pennsylvania and North Carolina, has said the capital recycled from sales like this one supports a corporate plan targeting more than $200 million in commercial real estate acquisitions. The Gaithersburg sale slots into that broader reallocation strategy as the firm continues trimming its local footprint while redeploying proceeds elsewhere in its five-state portfolio and Washington, D.C.
