“The property is a great addition to our focus of developing and acquiring industrial assets in infill, high-barrier markets.” - Scott Morris, Matan
FREDERICK, Md. (PRWEB) December 09, 2022
Matan Companies announced today the purchase of 8520-8540 Ashwood Drive, a 44,000 square foot industrial property in Prince George’s County, Maryland. The fully leased building is located at the intersection of Ashwood Drive and Ritchie Road in Capital Heights, inside I-495, the Capital Beltway. Featuring 24’ clear ceiling height, multiple drive-ins, and 1.2 acres of secure outdoor storage, the property is currently home to Foundation Building Materials, a leading construction materials distributor.
“8520-8540 Ashwood Drive represented a rare opportunity to acquire a functional industrial asset with outdoor yard space inside the Beltway at well below replacement costs,” said Scott Morris for Matan. “The property is a great addition to our focus of developing and acquiring industrial assets in infill, high-barrier markets.”
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.