Finmarc Management, a commercial real estate firm located in downtown Bethesda, has acquired cineplexes in Maryland and Virginia. The movie theaters are the Xscape Theatres Brandywine 14 in Brandywine, Maryland, and the Cinemark Centreville in Centreville, Virginia. Finmarc paid $15.1 million for both theater properties, according to REbusiness Online. The company had vowed earlier this year to acquire $200 million worth of new assets in 2025.
Acquisitions of cineplexes appear to be a growing trend in commercial real estate. It suggests the industry is forecasting tough times ahead for the movie business. The Regal Germantown was sold earlier this year. Like the theaters Finmarc acquired, it sits on prime land for redevelopment.
The Xscape Theatres, for example, is located in the Brandywine Crossing shopping center near the interchange of MD 301 and Route 5 in Prince George's County. It is close to the CSX railroad tracks, which - if smarter people are elected to the state legislature - could eventually be repurposed for MARC commuter rail service. That would permit higher density for the cineplex site, increasing the property's value even without assembly with adjacent lots. For the immediate future, it is a revenue generating opportunity for Finmarc, as the Xscape Theatres is leasing the property at a very successful shopping center, in an area with no other convenient movie options.
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