“We have seen a noticeable uptick in the demand for biotech manufacturing in the I-270 Corridor.” - Mark Matan, Principal, Matan Companies
FREDERICK, Md. (PRWEB) February 08, 2021
Tilting of the pre-cast concrete wall panels began last week on the Matan Companies’ ‘Progress Labs at Center 85’ project. The three-building biomanufacturing development on Executive Way in Frederick is located on 54 acres, and when fully built out will total approximately 456,000 square feet, with an additional 250,000 square feet of Build-to-Suit opportunity.
Progress Labs at Center 85 is well-positioned in the heart of the Route 85 corridor with easy access north and south via the new $118 million dollar I-270/85 interchange. With amenities purposefully designed to meet the needs and tailored specifications of companies seeking biomanufacturing space, these buildings will provide ample utilities with dual electric feed, utility yards, 30’ clear ceiling height, 40’ x 40’ column spacing, 120’ truck court, and abundant parking.
“We have seen a noticeable uptick in the demand for biotech manufacturing in the I-270 Corridor,” said Mark Matan, Principal for the Matan Companies. “With limited or no new inventory, speed to market is crucial, prompting our decision to move forward with these projects ahead of the arrival of an end user. Tenants can start their TI’s on these buildings in 45 days.”
Building #1, totaling 116,000 square feet, and Building #2, totaling 64,000 square feet, are on track to deliver simultaneously in mid-June with Tenant Improvements beginning in May. Building #3, totaling 276,000 square feet, has recently commenced construction. The remaining 250,000 square feet is planned as a Build-to-Suit option and given Frederick County’s excellent Turbo Fast Track permitting process, affords a very aggressive and expedient schedule as well.
In addition to Center 85 the Matan Companies has five additional “Progress Labs” projects planned along the I-270 Corridor. In total over two million square feet of new biomanufacturing-ready space will be delivered in Rockville, Gaithersburg, Germantown and Frederick, with Center 85 leading the way with its delivery in June.
For more info on Progress Labs visit: progresslabs.com
About Matan Companies
Matan Companies, headquartered in the Washington, D.C. suburbs, is one of the region’s premier commercial real estate services and development firms. Founded over 40 years ago on the principle of providing a comprehensive, full-service approach, the firm’s current portfolio consists of over 6.5 million square feet of office/industrial assets, 4 million square feet in the development pipeline, several active residential developments, and a separate portfolio of multifamily units. The company delivers a full range of services to their real estate investors and tenants including asset and property management, leasing, and tenant services. For additional information about the Matan Companies, please visit http://www.mataninc.com