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Washington DC & Mid-Atlantic  + DC Metro  + Industrial  |  December 15, 2025
Jasmine Kilman
By: Jasmine Kilman

Matan Companies Signs 162K-SF Lease with MCPS in Gaithersburg

Matan Companies announced that its 44-acre life science and industrial campus in Gaithersburg, Maryland, is now 100% leased.

The final piece of the leasing puzzle was completed with the recent execution of a 161,500-square-foot lease with Montgomery County Public Schools (MCPS) at 700 Progress Way. MCPS joins previously tenants AstraZeneca, which leases a whole building spanning 198,000 square feet, and Daikin Comfort Technologies Distribution, Inc., which leases 36,145 square feet.

Located directly on Interstate 270 between the Montgomery Village Avenue and Watkins Mill interchanges, the campus offers visibility and access, 32′ clear heights, extensive dock and drive-in loading, parking with EV charging stations, and flexible configurations suitable for life science, manufacturing, distribution, logistics, and institutional users.

“The diversity of best-in-class occupants—AstraZeneca in life sciences, Daikin in advanced HVAC distribution, and now Montgomery County Public Schools—demonstrates the incredible flexibility and strategic location of these assets along the I-270 corridor,” said James Matan, Director of Leasing at Matan Companies.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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