Matan Companies Successfully Leases 161,500 SF to MCPS at 750 Progress Way in Gaithersburg

Matan Companies Secures Major Lease in Gaithersburg

Matan Companies has announced a major milestone as it successfully signed a 161,500 square foot lease with Montgomery County Public Schools (MCPS) at 750 Progress Way in Gaithersburg, Maryland. This significant agreement marks the final step in achieving full occupancy at their state-of-the-art life science and industrial campus, which spans 44 acres along the highly traveled I-270 corridor.

The new lease with MCPS complements previously established agreements with notable tenants such as AstraZeneca, which occupies a full building space of 198,000 square feet, and Daikin Comfort Technologies Distribution, Inc., which occupies 36,145 square feet. With all spaces now leased, the campus showcases a diverse range of high-profile occupants, reflecting the strategic appeal of the location.

Celebrating Strategic Partnerships

James Matan, Director of Leasing at Matan Companies, expressed pride in the successful leasing of this modern facility. “The diversity of best-in-class occupants—AstraZeneca in life sciences, Daikin in advanced HVAC distribution, and now Montgomery County Public Schools—demonstrates the incredible flexibility and strategic location of these assets along the I-270 corridor,” he stated. This statement highlights the campus’s versatility in accommodating a variety of industries, including life sciences, manufacturing, and education.

Located strategically near the Montgomery Village Avenue and Watkins Mill interchanges, the campus offers excellent visibility and easy access, ideal for various operational needs. The facilities feature clear heights of 32 feet, extensive loading docks, and generous parking, including electric vehicle charging stations, fulfilling the demands of modern businesses.

JP Matan, Principal at Matan Companies, added that this leasing achievement underscores the robustness of the regional economy and the rising demand for high-quality industrial environments. “This milestone reflects the strength of the region's economic base and the demand for high-quality, modern industrial and flex space,” he noted. By accommodating MCPS, Matan Companies also supports the educational mission for over 160,000 students in the area, promising a modern operational hub tailored to future needs.

Leading Developer in Industrial and Life Sciences

With the completion of leasing at 700 and 750 Progress Way, Matan Companies has solidified its standing as a leader in developing and owning industrial and life science properties across the Washington, D.C. metropolitan area. Matan Companies was founded over 45 years ago in the D.C. suburbs and has since evolved into a premiere commercial real estate firm, managing a portfolio of more than 7 million square feet in industrial, bio-life science, and office assets.

Their ongoing projects account for an additional 15 million square feet in development, alongside active residential developments. From entitlement and construction management to asset and property management, Matan Companies offers a diverse suite of services to meet the needs of investors and tenants alike.

For more information about Matan Companies and their new developments, please visit www.mataninc.com. Matan Companies continues to thrive by fostering strong partnerships and creating spaces that meet the growing demands of various sectors, ensuring their position at the forefront of the real estate industry in the region.