Matan Companies chose the right time to enter the life sciences manufacturing sector of real estate. The Frederick-based real estate developer is well on its way to delivering the 2 million square feet of manufacturing space it promised through Progress Labs, a project dedicated exclusively to spec properties for life sciences manufacturing.
Matan Companies has broken ground on the third of its six Progress Labs developments along the I-270 corridor, Progress Labs at Riverside I in Frederick, Maryland. The speculative project, slated to deliver in the Fall of 2022, will total 215,000 square feet comprised of a single story 118,000 square foot biomanufacturing building, along with a three story 96,000 square foot support building to accommodate additional manufacturing, lab, quality control, administration, and support space. The facility will bring in excess of 1,000 new life science jobs to Frederick.
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.