12-24-15

18A — December 24 - January 14, 2016 — Owners, Developers & Managers — Industry Leaders — M id A tlantic

Real Estate Journal

www.marejournal.com

I ndustry L eaders Wedgewood West is a six building park in Frederick, MD Matan Companies breaks ground on 675,000 s/f of spec warehouse

rederick, MD — Matan Companies is officially under construc- tion on its new six building, 675,000 s/f Wedgewood West Business Park at the corner of New Design Rd. and English Muffin Way in Frederick. Officials from Frederick County, Matan Companies, M&T Bank , and Morgan Keller , the project’s contracted construction company, held an official groundbreaking cer- emony to celebrate the start of construction. The first phase of the proj- ect, which is the construction F

of 180,000 s/f in two buildings (B & F), is projected to be com- pleted 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 es- tate services and development firms, and we are glad to call them a client of M&T Bank,” said Campbell Hudson , as- sistant 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 indus- trial 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 approxi- mately 40,000 s/f pre-leased and another 100,000 s/f in negotiations.” “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 Rte. 85 and I-270 as an additional demand driver”. n Keystone Property Group reveals plan to redevelop One Plymouth Meeting office property PLYMOUTH MEETING, PA — Keystone Property Group announced its plan to redevelop One Plymouth Meeting, an iconic, 180,000 s/f office property located at 502 West Germantown Pike in Plymouth Meeting. With its location on the cam- pus of the recently reinvigo- rated Plymouth Meeting Mall, the nine-story building will be reimagined to reflect modern workplace demands, achiev- ing LEED certification while receiving various amenities and a completely redeveloped interior and exterior. “One Plymouth Meeting is an ideal headquarters facility for forward-thinking compa- nies intent on providing their employees with a wide range of lifestyle amenities in prox- imity to their office space,” said Rich Gottlieb, partner at Keystone. “With walkable access to nearly a dozen res- taurants, Whole Foods, and the onsite movie theater at Plymouth Meeting Mall, the reimagined One Plymouth will be the sort of dynamic office property that will engage em- ployees as it inspires creative thinking.” n

Officials from Frederick County, Matan Companies, M&T Bank, and Morgan Keller, the project’s contracted construction company, held an official groundbreaking ceremony.

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