Real Estate Journal — April 12 - 25, 2019 — 7A
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Stape of KLNB represents seller in transaction Matan Companies sells The Shops atWestviewSouth
F
REDERICK, MD — Matan Companies an- nounced the sale of their
21 , 138 s / f , two-building class A retail center known as The Shops at Westview South, locat- ed along Rte. 85 at Execu- tive Way in
Andy Stape
Frederick. The retail center was developed and leased by the Matan Companies as part of its larger 100-acre Westview South development. The Shops at WestviewSouth were delivered in the Spring of 2016 and are currently 90.2% leased. The tenant roster in- cludes Dunkin’ Donuts, Sola Salon, Chaps BBQ, Dogtopia, Club Pilates, and Monocacy River Dental. Broker Andy Stape of KLNB represented the seller in the transaction. The property sold for $421/SF to JS Westview South, LLC. “We could not bemore pleased with the outcome of this project, culminating with the sale,” said Brad Benna of the Matan Companies. “While retail is not our forte perse, we sensed that demand for this smaller prod-
The Shops at Westview South
uct was strong and the result confirms our intuition.” The residential component of Westview South is progressing as planned with over 100 homes already delivered or under construction and the remain- ing 390 homes expected to be delivered by late 2021. The self-contained commu- nity is strategically located along the Rte. 85 Corridor with easy access to major interstates I-70 and I-270. Westview South is within walking distance of a thriving amenity base and of- fers a park-like setting with 31 acres of preserved green space and walking trails along Bal- lenger Creek. Three retail pad sites, still owned by Matan, which sur-
round the retail project, are still available. They are suited for users looking for a stand- alone presence on Rte. 85, with a more prominent identity, built to suit the specific users needs. a section of the MARE Journal 350LincolnStreet, Suite1105 Hingham, MA 02043 P: 781-740-2900 Fax: 781-740-2929 www.marejournal.com S ection P ublisher Steve Kelley skelley@marejournal.com DELMARVA
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