In the News: Matan Brings Frederick Industrial Building to Full Occupancy

26 February 2024

COSTAR.COM - In a sizable industrial lease signed at the end of last year just now coming to light, Frederick, Maryland-based commercial real estate services and development firm Matan filled the remaining 66,000 square feet of space at its Center 85 Building 3 facility at 4910 Executive Court. 

Goodwill of Arizona signed a lease for the block of space in December of last year. Brad Benna of Matan represented the property in the transaction. The Goodwill lease, along with three other deals signed in the building last year, fills the 276,000-square-foot warehouse, including Goodwill's fellow retailer Walmart. 

Center 85 includes a total of five buildings encompassing more than 550,000 square feet when fully built out. Matan has approval for a fourth building measuring approximately 155,000 square feet, which it expects to commence construction on later this year. The site for a fifth building is available for future development that can accommodate approximately 100,000 square feet.

“Center 85 has been a very successful speculative venture for us,” said Brad Benna of the Matan Companies in a statement announcing the Goodwill lease. “We feel fortunate to complete the leasing in Building 3, one of our largest single buildings in the entire portfolio, and the diverse rent roll is something with which we are very pleased."

Benna added that Matan will be focusing its business development efforts elsewhere in the market and portfolio following the successful lease-up of its Center 85 project.

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