MCPS leases final space at former Leidos site in Gaithersburg

 

Matan Companies has announced that its 44-acre life science and industrial campus fronting I-270 in Gaithersburg, which consists of two 198,000-square-foot Class A buildings at 700 and 750 Progress Way, is now 100% leased. The final piece was the recent execution of a 161,500 SF lease with Montgomery County Public Schools (MCPS), which has leased 161,500 square feet at 700 Progress Way. MCPS joins existing tenants AstraZeneca (198,000 SF full-building lease at 700 Progress Way, signed December 2023) and Daikin Comfort Technologies Distribution, Inc. (36,145 SF at 750 Progress Way, signed May 2024). Matan's announcement did not specify what MCPS plans to use the space for, or the annual cost of the lease to Montgomery County taxpayers.

“We are extremely proud to have delivered and fully leased this state-of-the-art campus,” Matan Companies Director of Leasing James Matan said in a statement. “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.”