Frederick, MD (September 22, 2016) – After breaking ground on its newest warehouse development on December 15, 2015, Matan Companies announces that Phase I of the project is now 100% leased. Four new leases totaling 154,000 square feet have been signed; 77,000 square feet to an undisclosed biotech company, 58,000 square feet to Premium Distributors, 12,000 square feet to Emser Tile and 7,000 square feet to Wholesalers, USA. Precision Doors & Hardware also signed a lease with Matan back in January.
The biotech user, Premium Distributors, and Precision Doors & Hardware were all represented by Jones Lang LaSalle and are all expansions within Frederick. Emser Tile, represented by Cushman & Wakefield, is a new tenant to the market.
“All four deals represent real growth in the Frederick industrial market,” says JP Matan, Director of Leasing for the Matan Companies. “Demand for strategically located Class A high bay warehouse is strong, and that is where we are seeing growth and job creation in Frederick.”
Precision Doors & Hardware moved into their new facility on September 7th and the other three tenants are expected to occupy by the end of the year. Wedgewood West is site plan approved for 30’ clear height warehouse totaling approximately 675,000 square feet. Phase I consists of two buildings totaling 180,000 square feet and Phases II and III consist of four additional buildings totaling 495,000 square feet.