4A — April 10 - 23, 2015 — M id A tlantic
Real Estate Journal
www.marejournal.com
D el M ar V a 1 Milestone Center Court receives $3 million in renovations DRS moves 250 employees into Matan Companies’ newly renovated 133,140 s/f building
ermantown, MD — DRS Technolo- gies has moved 250 employees into 1 Milestone Center Court in German- town, after completing over 3 million dollars in renova- tions to the 133,140 s/f build- ing. DRS signed a long-term lease with Matan Compa- nies in February of 2014 as part of an area consolidation that included relocation from their aging manufacturing and engineering facilities at 700 Quince Orchard Rd. in Gaithersburg. DRS began the extensive renovations in June after JDSU relocated G
to 20250 Century Blvd. in Germantown. DRS’ new Germantown facility will house DRS Sig- nal Solutions, together with personnel from other DRS divisions. “DRS is a great addition to the Milestone campus,” said JP Matan , director of leasing for Matan Companies. “Their long-term commitment to Germantown and anticipated expansion is a boost to the I-270 Corridor.” Matan recently announced its plans to add 485 apart- ment units, 28,000 s/f of street level retail, and im- proved access to Milestone
Business Park, transforming this traditional office park into a true live, work, play environment destination. n Divaris completes four leases for over 25,000 s/f of office space RICHMOND, VA — Ger- ald S. Divaris , chairman and CEO of Divaris Real Estate, Inc. (DRE) , an- nounced the signing of four leases totaling over 25,000 s/f of office or flex space in Richmond. All leases were handled out of DRE’s Rich- mond office. SignScapes, Inc., leased 12,000 s/f of office/warehouse space at 7519 Ranco Rd. With this lease, the company moves into larger office and production space within the same complex. DRE’s Brett McNamee represented the tenant in the negotiations with the landlord, Bertozzi Family Limited Partnership. Richmond Radiant Health leased 6,494 s/f of office space in Huguenot Trade Center, located at 1105 Alverser Dr. This lease represents a relocation and expansion for Richmond Radiant Health. McNamee represented the tenant in the negotiations with the landlord, CH&B Associates, LLP. Boxwood Capital Partners, LLC leased 4,550 s/f of office space in Shockoe Centre at 11 South 12th St. Boxwood Cap- ital Partners is a Richmond, Virginia-based private equity firm focused on investing in and acquiring profitable lower-middle-market compa- nies with attractive growth prospects in a variety of in- dustries, such as e-commerce, manufacturing, franchising, business services, distribu- tion, and consumer products and services. McNamee han- dled the lease negotiations on behalf of the landlord, James K. Coyne, LLC. Wilmer Hernandez leased 2,355 s/f of industrial space in the Divaris-leased and -man- aged South Belt Flex complex at 133 East Belt Blvd. The space will be used for online retail sales of cars. John Madures of the Richmond office of Divaris Real Estate represented the landlord, South Belt Flex, LLC in the lease negotiations. n
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