#United States #Gaithersburg #Retail Development #Matan Companies

Matan Companies Breaks Ground on New Retail Development in Gaithersburg

Matan Companies has officially kicked off construction on a new strip retail project in Gaithersburg, Maryland. This exciting development encompasses 10,175 square feet of retail space, strategically located on a prime one-acre plot at 715 Progress Way. Situated at the bustling intersection of Montgomery Village Avenue and MD-355, this site is primed for success, already surrounded by reliable national brands like Chick-fil-A and Sheetz.

Prime Location and Infrastructure

The retail expansion aims not only to serve the surrounding residential community but also to cater to a vibrant workforce located right next door. Behind the retail development, Matan Companies has constructed two impressive Class A buildings, totaling 198,000 square feet. These facilities are fully leased to prominent tenants, including AstraZeneca, Montgomery County Public Schools (MCPS), and Daikin Comfort Technologies.

James Matan, the Director of Leasing for Matan Companies, expressed enthusiasm about the new venture: “We’re excited to continue expanding this dynamic destination in Gaithersburg. With strong existing traffic generated by Chick-fil-A and Sheetz, along with excellent accessibility, this site offers an ideal opportunity for retailers.”

Marketing New Opportunities

As part of the development process, Matan Companies has begun marketing three additional pad sites that total four acres. This presents a rare chance for top-tier brands to establish a presence in a fully stabilized retail and corporate hub. The location benefits significantly from heavy traffic from I-270, with easy access to major employment centers via the Montgomery Village Avenue and Watkins Mill Road interchanges.

Construction on the new retail center is already underway, and current leasing opportunities are available for both inline retail spaces and the three pad sites. This exciting project not only enhances the community’s retail landscape but also contributes to Gaithersburg’s growth as a regional shopping destination.

About Matan Companies

Matan Companies, based in the suburbs of Washington, D.C., stands as one of the premier commercial real estate firms in the region. Established over fifty years ago, the company prides itself on providing a comprehensive, full-service approach. Matan Companies currently manages over 10 million square feet of industrial, bio-life science, and office assets, with another 20 million square feet in various stages of development. Furthermore, their portfolio includes several residential projects, in addition to multifamily and manufactured housing units.

Their diverse service offerings encompass entitlement and construction management, leasing, asset management, and tenant services. For anyone interested in learning more about Matan Companies and their upcoming projects, visit www.mataninc.com.