Frederick, MD — Matan Companies is officially under construction on its new six building, 675,000 square foot Wedgewood West Business Park at the corner of New Design Road and English Muffin Way in Frederick, Maryland.
Officials from Frederick County, Matan Companies, M&T Bank, and Morgan Keller, the project’s contracted construction company, held an official groundbreaking ceremony last week to celebrate the start of construction.
The first phase of the project, which is the construction of 180,000 square feet 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 square feet pre-leased and another 100,000 square feet in negotiations.”
The buildings will be some of the only 30’ clear warehouses in the market, featuring modern, state-of-the-art, tilt-up concrete and upgraded exterior features, including stone accented façades. The project will cater to a wide range of users from logistics and light manufacturing to the bio-manufacturing/research industry.
“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 Route 85 and I-270 as an additional demand driver”.
For more information on Wedgewood West, please visit www.wedgewoodwest.com.
About Matan Companies
Matan Companies, headquartered in Suburban Maryland, is one of the region’s premier commercial real estate services and development firms. Founded over 35 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 office/industrial assets, 3 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 the latest news from Matan Companies please visit mataninc.com.