Matan Companies to break ground on final building for development
News release
05 February 2024
Matan and JLL deliver Northlake II fully leased
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RICHMOND, VA, February 6, 2024 – JLL announced today, on behalf of Matan Companies, it has delivered and fully leased the first three buildings at Northlake II in Ashland, Virginia, totaling 345,000 square feet of industrial space. Tenants in Phase One include Ferguson, Chadwell Supply, Envoy Solutions, and Haskell Hardware. Construction of Phase Two will commence in the Summer of 2024 with expected completion at the end of 2025 for the final approximately 200,000 square foot industrial building.
“We could not be more pleased with the success of Northlake II,” stated JP Matan, Director of Leasing, Matan Companies. “The Richmond market continues to exceed our expectations and we are excited to break ground on the final phase of the development.”
“We continue to see strong demand from industrial tenants seeking modern, high quality warehouse space” said Gareth Jones, Managing Director, JLL. “Northlake II’s strategic location in Hanover County along the I-95 corridor provides a strong labor pool and easy access throughout the Richmond region and to nearby markets across the Mid-Atlantic.”
JLL’s Gareth Jones, Chris Avellana and Charlie Polk handle the leasing for Matan at Northlake II.
For more information about JLL Richmond, visit https://www.us.jll.com/en/locations/mid-atlantic. For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
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.