dailyloe.com – Matan Companies has begun construction on a new retail strip in Gaithersburg, Maryland. The project is located at 715 Progress Way near Montgomery Village Avenue and MD-355. Groundbreaking for the 10,175 square foot development occurred on April 2.
The one-acre site benefits from significant existing traffic. This is driven by adjacent national brands like Chick-fil-A and Sheetz. The retail space aims to serve both the local community and a large on-site workforce.
Two major office buildings sit directly behind the new retail strip. These 198,000 square foot Class A buildings are also Matan developments. They are fully leased to tenants including AstraZeneca and Montgomery County Public Schools.
Leasing documents show two parcels in the new strip are already leased. The specific tenants have not been publicly disclosed yet. Matan is also marketing three additional pad sites totaling four acres.
James Matan, Director of Leasing for Matan Companies, commented on the project. He stated the company is excited to expand this dynamic Gaithersburg destination. Matan cited strong existing traffic and excellent accessibility as key advantages.
The location is positioned along the I-270 corridor between two major interchanges. This provides convenient regional access near major employment centers. Leasing opportunities remain available for both inline retail and pad sites as construction progresses.[]
Source: The MoCo Show –
