Matan Companies Signs 161,500 SF Lease with MCPS at 750 Progress Way in Gaithersburg, MD

FREDERICK, Md., Dec. 15, 2025 /PRNewswire/ -- Matan Companies is proud to announce that its premier 44-acre life science and industrial campus fronting I-270 in Gaithersburg, Maryland, consisting of two 198,000 SF Class A buildings at 700 and 750 Progress Way, is now 100% leased.

The final piece of the leasing puzzle was completed with the recent execution of a 161,500 SF lease with Montgomery County Public Schools (MCPS) at 700 Progress Way. MCPS joins previously announced 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), bringing the entire two-building campus to full occupancy.

"We are extremely proud to have delivered and fully leased this state-of-the-art campus," said James Matan, Director of Leasing at Matan Companies. "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."

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

"This milestone reflects the strength of the region's economic base and the demand for high-quality, modern industrial and flex space," added JP Matan, Principal at Matan Companies. "We are especially honored to now support MCPS in its mission to serve more than 160,000 students by providing a modern, efficient operational hub for years to come."

With the full lease-up of 700 & 750 Progress Way, Matan Companies continues to solidify its position as the leading developer and owner of industrial and Life Science properties throughout the Washington, D.C. metropolitan region.

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 45 years ago on the principle of providing a comprehensive, full-service approach, the firm's current portfolio consists of over 7 million square feet of industrial/bio-life science/office assets, 15 million square feet in the development pipeline, several active residential developments, and a separate portfolio of multifamily and manufactured housing units. The company delivers a full range of services to their real estate investors and tenants including entitlement/construction management, asset and property management, leasing, and tenant services. For additional information about the Matan Companies, please visit www.mataninc.com.

SOURCE Matan Companies