LANDOVER, MD—DC-area developer Matan Companies has acquired a more than 128,000-square-foot stand-alone warehouse building here.
The Frederick, MD-based commercial real estate development firm reports it has added 7721 Polk St. here to its portfolio. The 128,490-square-foot building, constructed in 1972, was recently renovated. The building is located on 5.61 acres in the Ardmore-Ardwick Industrial Park and features 22 loading docks, one drive-in door, and 98 parking spaces. No terms of the purchase were released.
“The redevelopment of the east side of DC has diminished the supply of warehouse product that services the city. This, coupled with improving market fundamentals, should continue to increase leasing demand for assets like Polk St,” says Mark Matan, principal for the Matan Companies. “This is a quality addition to our Matan Fund V, which is focused on industrial/warehouse. We continue to actively pursue and welcome other opportunities in this sector.”
Last week Matan Companies announced the completion of two 10-year office leases, totaling nearly 25,000 square feet at its Patrick Center office property in Frederick, MD.
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