The Matan Companies announced today that it has purchased a 78,164 square foot industrial park located at 7650-7750 Airpark Drive, in Gaithersburg, MD. The 5.4-acre property, known as Airpark Industrial Center, is comprised of three buildings, a 47,878 square foot warehouse, a 21,780 square foot warehouse, and an 8,506 square foot retail building, with a fully fenced, lighted parking lot.
“We continue to expand our industrial portfolio across the region and are thrilled to be back in the Montgomery County industrial market," said James Matan of the Matan Companies. “Airpark Industrial Center is an impeccably maintained industrial project that will have a wide appeal to users looking for high quality product in Montgomery County. It provides the unique combination of visibility, 38’ clear ceiling height, docks and drive-ins, and yard storage."
The Seller, Office Paper Systems, had utilized the property as their headquarters since 1999, where they handled all mixed-paper recycling for Montgomery County, before retiring from the recycling business this year. The seller was represented in this transaction by Gary Montgomery of HBW Group. At the time of acquisition the property was vacant.
About Matan Companies
Matan Companies, headquartered in Frederick, Maryland, is a trusted investment manager, owner, developer and operator of industrial, office, retail and multifamily real estate. Founded over 40 years ago on the principle of providing a comprehensive, full service, hands on approach, the firms’ focus is on strategic investment, development and management in opportunistic suburban markets. Since inception, the company has directed and invested over $2 billion in real estate transactions in the greater Washington, D.C. metropolitan area. Matan’s current portfolio consists of 6 million square feet of industrial and office assets, and 4 million square feet in the development pipeline. In addition, the company has a multifamily portfolio and pipeline consisting of over 1,300 units across multiple markets. For additional information about the Matan Companies, please visit http://www.mataninc.com
