10C — February 18 - March 17, 2022 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers
Q Hayats Pro and Uvision USA Corp. pre-lease over 50% of new light industrial building Merritt Properties completes first building at Merritt Business Park in Quantico, Virginia UANTICO, VA — Merritt Properties announced today that
“Hayats Pro is excited to announce our transition to a new office and warehouse space built by Merritt,” said co-founder Rolly Hayat . “As we continue to grow, this facil- ity will allow us to scale our business to better serve both our clients and rapidly grow- ing team.” Defense contractor UVi- sion USA Corporation will occupy an additional 25,305 s/f of the building. The Israel- based company designs and manufactures smart defense equipment systems that use the integration of advanced airborne guidance and sophis- ticated navigation algorithms. The Quantico location will house the company’s produc- tion facility for drones and the HERO series of systems for the U.S. government. “We reviewed numerous facilities and locations around the Commonwealth and found this Merritt property com- pletelymeets our expectations regarding the size, growth po- tential, and location. We are happy to be part of the Merritt family,” says Jim Truxel CEO of UVision USA. Mid-Atlantic and Midwest marketplaces over the past decade. It internally manages all of its units. “When COVID hit we were concerned about lasting im- pact on rent collection, but because of our team’s abil- ity to adapt and work with residents who needed help during the crisis we were able to not only maintain, but surpass top- and bottom- line financial expectations across our portfolio,” said Andrew Rosen , principal of the Solomon Organization. “Our strong occupancies,
Merritt Construction Services , the construction di- vision of Merritt Companies, is managing the site develop- ment, shell construction and interior buildouts. Merritt Business Park is located within Quantico Cor- porate Center (QCC). The campus is home to leading defense and technology com- panies, the US government and top academic programs offering both undergraduate and graduate-level degrees. Merritt’s second project in Stafford County, Merritt at Austin Ridge, is currently in development and will offer five light industrial buildings totaling 393,075. “With our second building just weeks from completion and Merritt at Austin Ridge on the horizon, we are look- ing forward to continuing to develop in Stafford County,” said Longendyke. “The area has so much to offer in terms of access, infrastructure, workforce development and a business-friendly climate. It’s a strong foundation on which to build successful companies.” MAREJ
SUMMIT , NJ — The Solomon Organization continued expansion of its portfolio throughout the CO- VID Pandemic purchasing 11 properties since March 2020 in a transactional cycle comprised of 6,682 units and $1,004,952,780 in acquisi - tions, sales, and refinancing. The company increased its holdings in each of its port- folios in the Southeast and Midwest Regions, with special focus on additions to its sub- urban Detroit portfolio and established a new presence in the Metro-Cleveland market. With an extensive fiber- optic network, HUBZone designation and adjacency to the Marine Corps Base Quan- tico, Merritt Business Park is expected to cater to a diverse industry base, including gov- ernment contractors, distribu- tion centers, manufacturing and service providers. The park also offers I-95 visibility at exit 148, with easy access to the interstate and Jefferson Davis Highway. the company has completed the first of two Class A light industrial buildings at Mer- ritt Business Park at Quan- tico Corporate Center, with 46,995 square feet pre-leased to local tech company Hayats Pro and government contrac- tor UVision USA Corporation. The park is the commercial developer’s first project in Stafford County. Once fully developed, the park will in- clude two buildings totaling 171,000 s/f of single-story, 18-foot clear space. According to Merritt’s Scott Longendyke , who is spear-
heading the leasing efforts, “When designing these build- ings, Merritt was committed to creating high-quality, flexible spaces that would meet the needs of smaller single-bay users, as well as larger ware- house and distribution require- ments. We’re thrilled to be able to support the growth of the local business community.” Hayats Pro signed on as the project’s first tenant, relocating the company’s headquarters from Stafford to 21,690 s/f at Merritt Busi- “We continue to purchase properties from their original builders as we have through our history, but several recent acquisitions have been larger- scale portfolios acquired from institutional owners,” said Zach Solomon , principal of The Solomon Organization. “But we feel that our greatest achievement during this chal- lenging time was recognizing the needs of our staff and our tenants, whether it was lever- aging technology for remote work or virtual leasing, our staff’s dedication to our com- pany and our residents was
ness Park. The company is a leading multi-brand tech- nology solutions provider to business, government, education and healthcare organizations. With plans to expand product offerings and grow their employee base, Hayat’s new headquarters will include the company’s corporate offices as well as their distribution warehouse. The company intends to add tech, warehouse and distri- bution positions as part of its move to the new facility.
Solomon Organization adapts & expands during Covid pandemic combined with the millions that the company gave back to the residents, have been re- warding, by generating strong morale among our regional and site teams. We make it a point to develop a culture of service to our residents – and our teams’ performance dur- ing the crisis speaks volumes to their character.” paramount to our success. We closed the deals we had under contract that spanned the pandemic and never took our foot of the gas in acquiring properties throughout 2020 and 2021. Opportunistically, we sometimes sell select ex - isting holdings – but more and more, we love our assets, continue to improve them and are expanding without trad - ing out of what we have.”
The company’s staff also has expanded to accommo - date and manage its new scale, now counting more than 600 employees, includ- ing senior management in each region. MAREJ
Solomon’s strategy of focus- ing on the “biggest part of the market – the middle,” saw its original Northeast holdings to expand into the Southeast,
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