Matan Companies breaks ground on 675,000 s/f of spec warehouse
Frederick, MD — Matan Companies is officially under construction on its new six building, 675,000 s/f Wedgewood West Business Park at the corner of New Design Rd. and English Muffin Way in Frederick. Officials from Frederick County, Matan Companies, M&T Bank, and Morgan Keller, the project’s contracted construction company, held an official groundbreaking ceremony to celebrate the start of construction.
The first phase of the project, which is the construction of 180,000 s/f in two buildings (B & F), is projected to be completed in the summer of 2016. The remaining four buildings, which make up phase two, will begin delivery in early 2017.
“We are pleased to support this first phase of an impressive industrial park by the Matan Companies, one of the area’s premier commercial real estate services and development firms, and we are glad to call them a client of M&T Bank,” said Campbell Hudson, assistant vice president. “We share Matan’s commitment to serving businesses throughout this region, and this industrial park will provide attractive space and a great location for companies looking to establish or expand operations in this market.”“Demand for class A industrial product in the Frederick market has been very strong over the past 18 months,” said JP Matan, director of leasing for the Matan Companies. Pre-leasing activity already has been very brisk, with approximately 40,000 s/f pre-leased and another 100,000 s/f in negotiations.” “Montgomery County simply has no new product of any size and given the demand coming from same day delivery, the housing market, and the bio field we are excited to be able to offer this much quality space in a short period of time,” said JP Matan. We are also looking forward to the state-funded, 160 million dollar interchange upgrade at Rte. 85 and I-270 as an additional demand driver”.