July 2023

M id A tlantic Real Estate Journal — Owners, Developers & Managers — July 2023 — 3C

www.marej.com

O wners , D evelopers & M anagers

Leases from Leonardo DRS, Walmart, and Envigo take the building to 75% occupancy Matan signs 210,000 s/f of leases at Center 85 in Frederick, MD

F REDERICK, MD — Matan Companies announced the signing of three long term leases at 4910 Executive Court, at its Center 85 project in Frederick, MD. The three leases, which total nearly 210,000 s/f, were signed with Leonardo DRS, Walmart, and Envigo. The signing of the deals indicates continued strong velocity of demand for innovation, pro- duction, life science, research, and warehouse space in the DC Metro market. “At a total of 276,000 s/f, 4910 Executive Court at Cen- ter 85 is one of our largest single buildings to date, and as a speculative delivery to the Frederick market, it of- fered a unique template for a wide range of business types and sizes, from distribution businesses to companies in the life science arena,” said Brad Benna of the Matan Companies. “We could not be more pleased to welcome the diversity of business types to the property, which further exhibits the versatility of high bay tilt-up construction. In this case we were able to cultivate an ideal mixture of companies, serving a wide variety of customers, across many different industries. These three leases will take the building to 75% occu- pancy, leaving 66,000 s/f of class A space yet to be leased. With the momentum of these successes, we are bullish on the prospect of completing the lease up successfully and mov- ing onto the other buildings within the project.” Center 85 is a state-of-the- art project offering a total of five buildings and more than 550,000 s/f once fully build out. Matan has approval in hand for a fourth building of 155,000 s/f, which will commence construction later this year, and a fifth site for future development that can accommodate approximately 100,000 s/f. All the buildings feature 30-32’ clear ceiling height, minimum column spacings of 40’ x 40’, 50-foot speed bays, 120’ truck courts, LED lighting, ESFR sprinkler systems, and ample parking for employees. Located in the heart of Frederick’s Rte. 85 employment corridor, Center 85 is just 1.5 miles from I-270 and ideally positioned to serve local, regional, and national companies. MAREJ

4910 Executive Court at Center 85

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