Matan Companies Sells New Industrial Asset in Dulles, Virginia
18 July 2018
Matan Companies announced today that it has finalized the sale of its recently completed Dulles North Industrial Park project to an undisclosed buyer. The 154,125 square foot Class A industrial building, located at 45905 Maries Road in Dulles, Virginia, sits on one of the two 10-acre sites that Matan acquired in September 2016, with a plan to develop speculatively for light industrial users. The Frederick based developer commenced construction on the project in July 2017, delivering the shell building in early May of this year.
"The intent on Maries Road was to develop several of our core tilt-up assets," said Brad Benna of the Matan Companies. "The market imbalance caused by the tech sector created a situation where selling became an obvious choice. We plan to immediately deploy the proceeds into several of our ongoing warehouse developments in the Metro area."
30-foot high ceilings, 40 by 40-foot column spacing, 50-foot speed bay, large truck court, ESFR sprinkler systems and T5 lighting. The property sits on top of several unique fiber lines and is adjacent to the four major data center players.
The Matan Companies would like to thank John Dettleff of JLL for his help with the Maries Road transaction.