FREDERICK, Md., Dec. 9, 2020 /PRNewswire-PRWeb/ -- The Matan Companies is pleased to announce plans for the delivery of over two million square feet of new bio manufacturing ready space along the I-270 Corridor, between NIH in Bethesda and Fort Detrick in Frederick. The six proposed projects, one existing and five developments, all being marketed under the Progress Labs brand, include sites in Rockville, Gaithersburg, Germantown and Frederick and begin delivering in June 2021. Matan has committed over 200 acres of zoned land to make Progress Labs a reality.
"We have seen a noticeable uptick in the demand for biotech manufacturing and support space in the I-270 Corridor, even before the pandemic," said Matan Principal Mark Matan. "What has become clear during the pursuit of these opportunities is that there is very limited or no new inventory, prompting our decision to move forward with these projects ahead of the arrival of an end user." Currently the market offerings are focused around converting empty office buildings into lab space, however, this strategy has major limitations for many bio users. Progress Labs, conversely, is a ground up approach that will offer new, state-of-the-art, speculative flexible assets that can accommodate a wide range of bio users and their supply chain. By delivering these assets spec, Matan plans to slash the lead time associated with most bio developments.
Having delivered several high-profile biotech facilities along the I-270 Corridor, including the 320,000 square foot NCI Frederick National Lab and the 120,000 square foot US Vaccine Pilot Plant, Matan understands the specialized nature of these facilities and is trying to strike a balance between speed to market and the flexibility to accommodate these users and the companies that support them. "Our in-house Development Team understands the tailored process involved with these facilities and has the experience working side-by-side with the end user and local officials to deliver these projects on time and on budget," said Mark Matan. Matan's shell deliveries will be universally ready for the majority of bio users to commence their specialized interior work.
Each of the newly constructed buildings will be delivered with necessary "manufacturing ready" features. The 30' minimum clear ceiling height, optimal column spacing, and slab rating will broadly accommodate manufacturing equipment and allow for the installation of mezzanine space as may be needed. With utility mains sized for bio manufacturing and designated outdoor utility and equipment yards, the buildings offer true maximization and efficiency for the build out. Casting slabs will make it easier for users to install their process piping and other under-slab infrastructure ahead of the interior build out. Additional features like ample parking, electric vehicle charging stations, and desirable outdoor amenities will enhance the tenant experience.
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
Media Contact
Robyn Campbell, Marketing Manager, Matan, (301) 815-9980, [email protected]
SOURCE Matan
Share this article