C2 Imaging Acquires Springfield Office in Latest Owner-Occupier Deal
By Keith Loria February 16, 2024 1:38 pm
reprints
C2 Imaging has paid $15.9 million to acquire 8000 Grainger Court, an 88,000-square-foot office and warehouse building in Springfield, Va., that it currently occupies, Commercial Observer has learned.
The graphics and printing company leased the entire building for the two years prior to the acquisition, and uses the space for office and warehouse needs.
Finmarc was the seller, having acquired the building in 2020 as part of an 11-property, 740,000-square-foot portfolio from Boston Properties in a $127.5 million deal. Those properties have been called the VA 95 portfolio because of the sites’ proximity to Interstate 95.
“Given its presence within the building, sustained success of the company and opportunity to take control of its own real estate and build equity, C2 Imaging emerged as the natural buyer of the building,” Neil Markus, Finmarc’s principal, told CO. “The sale continues our strategy of disposing certain assets of the VA 95 portfolio when the timing and pricing is appropriate, and deploying the generated funds into emerging acquisition opportunities that we are confident will occur in 2024.”
Another asset from that portfolio, a 27,000-square-foot building at 7375 Boston Boulevard in Springfield, sold for $6.5 million last year to Costco.
C2 Imaging, which became part of St. Paul, Minn.-based Vomela Companies in 2010, has eight locations around the U.S. and offers print production, corporate branding and other media services.
Wendy Feldman Block of Savills represented the buyer in the deal, while Finmarc handled things in-house.
Keith Loria can be reached at Kloria@commercialobserver.com.
