Matan Cos. purchases 10-acre industrial site in Dulles
The Matan Cos. has purchased a 10-acre industrial site on Maries Road in Dulles for the development of a new Class A industrial complex called Dulles North Industrial Park. The Frederick, Md.-based real estate investment firm did not disclose the purchase price.
According to JLL, which brokered the sale, Matan plans to start construction on a 154,125-square-foot building that is scheduled to be complete by late 2017.
Located along the northern edge of the Dulles Corridor, Dulles North Industrial Park will have proximity to key residential and mixed-use developments such as Dulles Town Center, Commonwealth Center, One Loudoun and Ashburn. The building will offer 30-foot ceiling heights, ESFR sprinklers and a neutral palate façade with stone accents.
“Matan is an experienced and highly respected developer with a very impressive track record of industrial development,” John Dettleff, senior vice resident at JLL, said in a statement.
Dettleff added that another possible use of the property would be as a data center site. “The property sits on top of seven unique fiber lines, and it is adjacent to four data centers, including Cyrus One and Digital Realty Trust.”
Dettleff and Dan Costs of JLL represented Matan Cos. in the purchase of the site, and they are leasing Dulles North Industrial Park on behalf of the company.
Matan’s portfolio consists of more than 6 million square feet of office/industrial assets, 3 million square feet in the development pipeline, several active residential developments and a separate portfolio of multifamily units.