Star Pipe entered into a long-term lease agreement for all of 2301 Commerce Road at Deepwater Industrial Park.
FREDERICK, Md., Nov. 2, 2023 /PRNewswire-PRWeb/ -- Matan Companies announced today the signing of a 119,000 square foot, full-building lease with Star Pipe Products, a domestic and global manufacturer of iron products for various water-related industries. Star Pipe entered into a long-term lease agreement for all of 2301 Commerce Road at Deepwater Industrial Park in Richmond, Virginia, and will take occupancy in the first quarter of 2024.
"We've been in the Richmond area for close to 20 years now, and it's an important part of our nationwide distribution network," said Rishi Bhutada, Senior Vice President at Star Pipe Products. "We're happy to work with Matan on our expanded distribution center – they've been a great partner as we plan out our new location."
Earlier this month Matan purchased the two-building project, totaling 321,000 square feet. Star Pipe Products joins Lowes at the project, that is now 70% leased. The recently delivered buildings feature 36' clear ceiling heights, 52' x 52' column spacing, unparalleled visibility from Interstate 95, and are strategically located just two miles from the Richmond Marine Terminal. The buildings also feature redundant electric substations and ample other utilities to satisfy a wide range of industrial and manufacturing users.
The JLL industrial team of Charlie Polk, Gareth Jones, and Chris Avellana handle the leasing efforts for Matan at Deepwater, and the Colliers team of Walker Barnett and Harrison McVey represented Star Pipe Products.
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 45 years ago on the principle of providing a comprehensive, full-service approach, the firm's current portfolio consists of over 6 million square feet of industrial/bio-life science/office assets, 16 million square feet in the development pipeline, several active residential developments, and a separate portfolio of multifamily and manufactured housing 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.
SOURCE Matan Companies