Updated Dec 16, 2025
Matan Companies Leases 161500 SF Industrial Space To Montgomery County Public Schools In Gaithersburg
700 Progress Way
Building Size
161,500 SF
Asset Type
Industrial
Closing
Dec 15, 2025
About this deal
AI
The property involved in the transaction is an industrial asset located at 700 Progress Way, Gaithersburg, MD, encompassing 161,500 square feet. This asset is part of a 44-acre life science and industrial campus adjacent to I-270 that has been fully leased.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Date: 12/15/2025
- Landlord: Matan Companies
- Tenant: Montgomery County Public Schools
- Market: Gaithersburg, MD
Matan Companies has successfully leased this industrial space to Montgomery County Public Schools, as part of a fully occupied campus that also includes tenants like AstraZeneca and Daikin Comfort Technologies Distribution.
On the Map
Industrial
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Players
Gaithersburg Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93