Matan Companies is pleased to announce the signing of two long-term leases at its Parkway 66 property, which delivered in late 2020 on Cushing Road in Manassas, Virginia. Deeper roots continue to grow from Matan’s Progress Labs initiative with the signing of a 79,000 square foot lease with Granules Pharmaceuticals who will build out packaging lines, labs, and clean rooms for their pharmaceutical distribution business. The deal is yet another sign of the strong velocity for life science space in the DC Metro market. Matan also signed a lease for 30,000 square feet at Parkway 66 with Brickworks of North America. Their facility features a large selection of masonry products and supplies to promote education and design creativity among trade professionals and customers.
“Delivering a new building speculatively in the midst of a pandemic presented challenges as Parkway 66 came on-line in late 2020. Yet despite those challenges we saw a strong demand for high-end high-bay product in Manassas,” said Brad Benna of the Matan Companies. “These two leases, with a third on the way, will take the building to full occupancy and prove that hypothesis was correct. With the momentum of these successes we are expanding further in Prince William County and hope to welcome more users of all types, especially as we continue to see success with Progress Labs, a massive job creator for the entire region”.
The state-of-the-art 189,787 square foot Parkway 66 building features 32’ clear ceiling height, 40’ x 40’ column spacing, a 50’ speed bay, 120’ truck court, LED lighting, an ESFR sprinkler system and ample parking for employees and trailers. Located at the intersection of I-66 and Rt. 234, directly adjacent to FedEx Ground’s distribution hub, Parkway 66 is immediately accessible to all points in Northern Virginia and the Washington, DC metro region.
Matan acquired the 13.56-acre site in September 2019, construction began in October 2019, and the building delivered in late 2020.
About Matan Companies
Matan Companies, headquartered in the Washington, D.C. suburbs, is one of the region’s premier commercial real estate services and development firms. Founded over 40 years ago on the principle of providing a comprehensive, full-service approach, the firm’s current portfolio consists of over 7 million square feet of industrial/bio-life science/office assets, 4 million square feet in the development pipeline, several active residential developments, and a separate portfolio of multifamily and manufactured housing units. The company delivers a full range of services to their real estate investors and tenants including asset and property management, leasing, and tenant services.