Walmart Among 3 New Companies Headed to Center 85 in Frederick, Md.
By Keith Loria June 22, 2023 4:10 pm
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Matan Companies is continuing to fill out the Center 85 research and industrial complex in Frederick, Md.
Retail chain Walmart, animal research firm Envigo and defense contractor Leonardo DRS have signed for a combined total of 210,000 square feet of industrial/flex space at 4910 Executive Court, the third of five buildings that comprise the Center 85 development. The three tenants will occupy 75 percent of the 276,000-square-foot building. The individual space sizes were not revealed.
Center 85’s first two buildings were fully leased by Australian biotech company Ellume, comprising a total of 180,800 square feet. The project broke ground in 2020 and is part of Matan’s bid to build 2 million square feet of lab/R&D space along the Interstate 270 corridor.
“As a speculative delivery to the Frederick market, [Center85] offered a unique template for a wide range of business types and sizes, from distribution businesses to companies in the life science arena,” Brad Benna, director of leasing for the Matan Companies, said in a prepared statement. “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.”
He added that the company is “bullish” on the prospect of completing the lease-up successfully and moving onto the other buildings within the development.
That includes its fourth building, a 155,000-square-foot build-to-suit property that’s scheduled to begin construction later this year, and a fifth site of roughly 100,000 square feet for future development.
All five buildings in Center 85 will feature 30- to 32-foot clear ceiling heights, 50-foot speed bays, LED lighting, and 120-foot truck courts, according to a statement.
The property is within Frederick’s Route 85 employment corridor. Matan also has Progress Labs-branded space in Gaithersburg and Riverside.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Keith Loria can be reached at Kloria@commercialobserver.com.
