Matan Companies announced today that it has sold its 10-acre site located at 45781 Maries Road in Dulles, Virginia to Corporate Office Properties Trust.

Matan had acquired two 10-acre sites along Maries Road in September 2016 and November 2017, with the intent to develop both speculatively for light industrial users. Branding the project as Dulles North Industrial Park, the Frederick based developer commenced construction on the first building, located at 45905 Maries Road, in July 2017, delivering the shell building in early May of this year before then selling that property in July.

“The intent on Maries Road was to develop a couple of our core tilt-up assets,” said Brad Benna of the Matan Companies. “However, 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.”

The Matan Companies would like to thank John Dettleff of JLL for his help with both Maries Road transactions.

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 6.2 million square feet of office/industrial assets, 4 million square feet in the development pipeline, several active residential developments, and a separate portfolio of multifamily 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.

For additional information about the Matan Companies, please visit www.mataninc.com