The second of the developer’s three Hanover County industrial buildings is 80 percent leased ahead of delivery
News release
30 July 2023
Matan Companies Welcomes Four New Tenants to Northlake II
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RICHMOND, VA July 31, 2023 - JLL announces today Northlake II, owned by Fredrick, Maryland-based, Matan Companies has signed several notable tenants to its Northlake development in Ashland, Virginia. The tenants include Ferguson Enterprises, Chadwell Supply and Metropolitan Warehouse & Delivery. Phase One of the development, totaling 345,000 square feet, will complete in 2023 with Phase Two expected to deliver another 192,000 square feet once completed in 2024.
“It is not surprising that this industry-leading space was leased very quickly, and we are thrilled to welcome these new tenants to Northlake,” said Gareth Jones, Senior Vice President, JLL. “Northlake is a best-in-class product with modern features like a shallow building depth, best-in-market dock count and higher ceiling heights. Not to mention Hanover County provides an excellent location and is very business friendly.”
There is 70,000 square feet still available for lease at Northlake II. Future tenants can expect 32 to 36-foot ceiling heights, ample parking and dock doors, as well as premier access to the entire east coast byway of nearby Interstate 95.
“We are pleased with the level of interest and leasing rate we are seeing at Northlake II,” stated JP Matan, Director of Leasing, Matan Companies. “Given the immense quality of the space and excellent proximity to major commerce hubs, we expect the remaining space to lease up quickly.”
JLL’s Gareth Jones, Chris Avellana and Charlie Polk will handle the leasing efforts for Matan at Northlake.
For more information about Richmond’s industrial market, visit https://www.us.jll.com/en/locations/mid-atlantic.
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 40 years ago on the principle of providing a comprehensive, full-service approach, the firm’s current portfolio consists of over 6.5 million square feet of office/industrial assets, 4 million square feet in the development pipeline, several active residential developments, and a separate portfolio of multifamily units. The company delivers a full range of services to their real estate investors and tenants including asset and property management, leasing, and tenant services. For additional information about the Matan Companies, please visit http://www.mataninc.com.