Contractor Steel Products Inks HQ Deal in Frederick, Md.
By Keith Loria June 7, 2023 2:17 pm
reprints
Steel Products, a woman-owned specialty contracting firm, has inked a 15,000-square-foot lease at Arcadia Business Park in Frederick, Md.
St. John Properties owns the 61-acre complex that features four single-story flex/R&D buildings totaling approximately 160,000 square feet plus two high-bay warehouse buildings comprising approximately 240,000 square feet.
Steel Products has relocated 20 employees to a 48,120-square-foot, flex building within the business park at 4724 Arcadia Drive, moving from its former Rockville, Md.-based headquarters at 670 Lofstrand Lane.
“After selling our building in Rockville, we conducted a comprehensive real estate search throughout the I-270 corridor to determine the placement of our new corporate headquarters and identified Frederick as the perfect landing spot,” Maureen Murphy, Steel Products’ president, said in a statement. “The area provides a high quality of living for our employees with numerous amenities, and it is connected to major metropolitan areas by a major highway network.”
What’s more, the company said it was attracted to the building because it was able to execute a custom-designed interior buildout of administrative and sales office areas. There’s also plenty of room for equipment storage and logistics.
Steel Products specializes in the installation of educational and laboratory casework and equipment, visual display boards, lockers, shelving and bathroom partitions in educational institutions, commercial office buildings and the life sciences industry throughout the greater Washington, D.C., region.
Danny Foit of St. John Properties represented the landlord in the deal. It was not clear who represented the tenant. The rent was not disclosed, but office rents command around $14.47 per square foot in Frederick, based on recent comparable deals.
Keith Loria can be reached at Kloria@commercialobserver.com.
