Frederick, MD — KLNB announced the 88,971 s/f commercial industrial lease for InventWood (IW), a Maryland-based early-stage, high-growth company that is a leader in cellulose-based material and nanotechnology innovations that are high performance, cost-effective, and environmentally sustainable. Located at 5971 Jefferson Station Court in Frederick, the property lease was coordinated by KLNB vice president Kristin Rebeck who acted as IW’s tenant rep.
As IW outgrew its incubator space at the University of Maryland (UMD), the search for a new headquarters location began. Rebeck advised the IW team on future growth needs and space planning, searching across the DMV for the ideal property. Site selection included diverse spaces ranging from old factories to sawmills, and even undeveloped sites, with the IW team embracing the journey to find the best option.
“It was an honor to have played a role in securing the future space for InventWood’s headquarters,” said KLNB’s Rebeck. “This is a perfect example of how having the right tenant advisor can ensure the successful navigation of any challenge. And in this case, we faced zoning considerations, a scarcity of industrial inventory in the region, escalating rental rates, and finding landlords able to accommodate IW’s unique requirements, but in the end we found an ideal solution and were able to secure the best facility for InventWood.”
IW is poised to become one of the most innovative companies to emerge from UMD with a $20 million grant from the US Department of Energy and to establish its headquarters in Maryland. The company’s manufacturing launch in early 2025 promises not only significant economic growth for the region, but also a transformative step towards a sustainable and impactful future with an innovative technology focused on a positive environmental impact.
“The relationship we created with Kristin, our KLNB tenant advisor, showcases just how much she cared about our future,” said InventWood CEO Josh Cable. “We spoke to Kristin almost daily, discussing our expansion strategy, plans for horizontal growth, and why we believe so deeply in our technologies. I believe that Kristin’s dedication, and genuine interest in our company, is what allowed her to find such an ideal property.”
In addition, Rebeck and Cable credit Jody Bollinger and the team at Frederick Economic Development for being a valuable tenant resource, providing support that IW continues to utilize. Additionally, Lincoln Property Company, acting as landlord represented by Brent Prossner and Kyle Bell, demonstrated unwavering commitment in tailoring the site to meet IW’s needs, fostering a promising partnership for the company’s regional growth.
In a second Maryland transaction, KLNB announced the sale of 7750 Montpelier Rd. in Maple Lawn to St. John Properties. The sale includes a 32,488 s/f, education facility, and two additional undeveloped parcels of land totaling 5.96 useable acres. Located in the Montpelier Research Park, the property’s sale was facilitated by the KLNB Capital Markets team of principals Abby Glassberg and Joe Friedman, senior VP Don Schline, and office & industrial specialist Joshua Norwitz.
The sale price was $8.25M.
KLNB represented the seller, Maryland Institute of Integrative Heath (MUIH), and procured the buyer, St. John Properties, which intends to develop multiple single-story office/flex buildings to provide support the increased needs of the Applied Physics Laboratory and the greater Maple Lawn community. The seller, MUIH, has entered a short-term buyback lease that will provide income to St. John Properties while planning and construction are underway.
“This is the last remaining undeveloped parcel in Montpelier Research Park” said Glassberg. “The existing building is extremely functional for office, school and assembly uses due to the existing layout and generous 269 surface parking spaces. It also offers outstanding accessibility with proximity to Rtes. 29 and 32, making it highly desirable for any occupants attracting people from nearby towns and neighborhoods.”
The parcel is zoned PEC (Planned Employment Center), and possible uses include light industrial, biomedical laboratories, ambulatory health care, restaurants, catering/banquets, education and schools, hospitals, hotels, and even Housing Commission housing development.