(Pictured left to right are Pete Ireland, Project Manager and Karl Morris, Director of Development)
Wal-Mart Slated to Open Doors in Early Fall of 2016
Frederick, MD -- Construction is currently underway for the new 190,000 square foot Wal-Mart Supercenter, to be built in Frederick on the northwest corner of Monocacy Boulevard and Route 26.
The Frederick Trading Center, where the Wal-Mart Supercenter will be located, was acquired by Matan Companies in 2010 with a vision for redevelopment. After several years of working with city residents, staff, and officials to gain approval, the developer has been given the green light to begin construction. “This redevelopment was truly a collaborative effort between Wal-Mart, the City of Frederick, and most importantly, the surrounding neighbors,” said Karl Morris, Director of Development. “We are excited to see this redevelopment move to the next stage.”
In addition to the Wal-Mart Supercenter, 3 pad sites on the front of the project will complete the redevelopment. Currently, Matan is at final lease negotiations with Chick-fil-A to occupy the corner pad, with a strong groundswell of interest in the other sites as well. The 2 remaining pads are ideal for bank, convenience, food service, and many other retail businesses.
“We couldn’t be more excited to welcome Wal-Mart to our site,” said JP Matan, Director of Leasing for Matan Companies. “The combination of Wal-Mart and Chick-fil-A is one that will provide a perfect bookend compliment to the Wegman’s anchored site to our west. The completion and opening of Wal-Mart will solidify the 26 corridor as a bona fide regional retail powerhouse.”
Demolition should be completed later this summer with Wal-Mart slated to open its doors in early fall of 2016.
About Matan Companies
For over 35 years Matan Companies has been a leading real estate investor and active community member in the Washington, DC area. Built on a foundation of prominent local presence, long-standing relationships, and well developed market knowledge, Matan has directed and invested in over 2 billion dollars’ worth of real estate transactions in the Washington, DC market.
Their full-service approach sets them apart from most real estate investors. With in-house capabilities including asset management, property management, leasing, and development, Matan can expertly manage each asset, adding value and maximizing returns. Their current portfolio consists of over 5.5 million square feet of office/industrial assets, 3 million square feet in the development pipeline, several active residential developments, and a separate portfolio of multifamily units. For the latest news from Matan Companies, please visit mataninc.com.