Three long-term leases signed at 4910 Executive Court
FREDERICK, Md., June 21, 2023 /PRNewswire-PRWeb/ -- Matan Companies is pleased to announce the signing of three long term leases at 4910 Executive Court, at its Center 85 project in Frederick, MD. The three leases, which total nearly 210,000 SF, were signed with Leonardo DRS, Walmart, and Envigo. The signing of the deals indicates continued strong velocity of demand for innovation, production, life science, research, and warehouse space in the DC Metro market.
"At a total of 276,000 SF, 4910 Executive Court at Center 85 is one of our largest single buildings to date, and as a speculative delivery to the Frederick market, it offered a unique template for a wide range of business types and sizes, from distribution businesses to companies in the life science arena," said Brad Benna of the Matan Companies. "We could not be more pleased to welcome the diversity of business types to the property, which further exhibits the versatility of high bay tilt-up construction.
In this case we were able to cultivate an ideal mixture of companies, serving a wide variety of customers, across many different industries. These three leases will take the building to 75% occupancy, leaving 66,000 SF of Class A space yet to be leased. With the momentum of these successes, we are bullish on the prospect of completing the lease up successfully and moving onto the other buildings within the project."
Center 85 is a state-of-the-art project offering a total of five buildings and more than 550,000 SF once fully build out. Matan has approval in hand for a fourth building of 155,000 SF, which will commence construction later this year, and a fifth site for future development that can accommodate approximately 100,000 SF. All the buildings feature 30-32' clear ceiling height, minimum column spacings of 40' x 40', 50-foot speed bays, 120' truck courts, LED lighting, ESFR sprinkler systems, and ample parking for employees. Located in the heart of Frederick's Route 85 employment corridor, Center 85 is just 1.5 miles from I-270 and ideally positioned to serve local, regional, and national companies.
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.
Media Contact
Robyn Campbell, Marketing Manager, Matan Companies, (301) 815-9980, rcampbell@mataninc.com
SOURCE Matan Companies
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