FREDERICK, MD-Plans for a 190,000-square foot Wal-Mart Supercenter will move forward now that the Frederick Planning Commission has approved the Matan Cos.' project here.
Matan acquired the warehouse and developable land at the Frederick Trading Center in 2010 with an eye towards redevelopment, principal JP Matan tells GlobeSt.com. "We just didn't know it would be Wal-Mart." The Supercenter will be built on the northwest corner of Monocacy Blvd and Route 26. The redevelopment proposal also calls for an additional three pad sites.
Demolition of the existing warehouse will be sometime in June. Wal-Mart is handling its own construction, which is expected to begin in third quarter of 2014.
The pad sites will be either a bank or a pharmacy or a quick-serve restaurant, Matan says. "Now that the project has been approved we will probably see more action on that. There has been interest but with the approval the interest will be more sincere."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
