Matan Companies to Deliver 215,000 Square Feet at Riverside Research Park
17 May 2021
Matan Companies announces today leasing has begun at Progress Labs at Riverside I in Frederick, Maryland. Receiving its site plan approval on March 9, the 215,000 square feet of biomanufacturing-ready space will include a 96,000 square foot existing building as well as a 119,000 square foot expansion building, which is slated to break ground in May 2021 and is expected to be fully complete by Spring 2022.
“This is going to be the largest biomanufacturing opportunity in the region,” stated Amanda Davis, Managing Director, JLL. “Matan is known for its best-in-class product and Progress Labs at Riverside I will be a premier headquarters location for innovative companies with a large biomanufacturing requirement.”
Located in the heart of Maryland’s Biotech Cluster, Progress Labs is situated in Riverside Research Park, adjacent to NCI’s Frederick National Lab and within four miles of Fort Detrick. The state-of-the-art asset can accommodate a wide range of bio users and their supply chain. The development boasts high ceiling heights, 33’ at the to-be-built property and 13’ 4” at the existing building, as well as significant column spacing and floor loads to support future mezzanine. Nearly 950 parking spaces will be available at the project including 10 solar vehicle charging stations and four dock doors. Tenants can also enjoy over five miles of walking trails and multiple private outdoor amenity areas.
“Frederick is home to more than 80 biotech companies and has received more than $1B in capital investment in the past 36 months,” remarked Mark Matan, Principal, Matan Companies. “Over the past year the need for additional bioscience in the market has only increased. We believe Progress Labs at Riverside I is going to be the leading solution for a company who is looking to grow in the second largest cluster in our region.”
JLL’s Amanda Davis and Danny Sheridan will oversee the leasing efforts at Progress Labs at Riverside I.