Matan Companies Signs 7-Year Lease With JDSU For 45,452 Square Feet in Germantown, MD
Germantown, MD – March 5, 2014. Matan Companies announced today the signing of a 7-year deal with JDSU to occupy the top two floors of 20250 Century Boulevard at their 270 Corporate Center project in Germantown, Maryland. DRT/Boeing vacated the 106,000 square foot building in early 2013. JDSU is scheduled to move in May 2014 after significant renovations to their space and the common areas of the building are complete.
“Creating a positive working environment is a key priority at JDSU and the new space is purpose built for our employees with modern amenities and a lot of natural light,” said Wally Wardak, director of Engineering and site lead for the JDSU campus in Germantown, Maryland. “Signing a long term agreement with Matan Companies for the new space reflects our commitment to employees and the local community while also providing cost savings.”
Matan has owned the 4-building, 450,000 square foot project since 2000 and recently restructured the financing for the project. In addition to the renovation of all the common areas of 20250 Century Boulevard, Matan plans an additional $5M in capital improvements to the project over the next two years. “JDSU’s decision to move to 270 Corporate Center is a great deal for the project and the Germantown market,” says JP Matan, Director of Leasing for the Matan Companies. “With the financing stabilized and the infusion of $5M in capital improvements, Corporate Center 270 will be a very attractive option for tenants in I-270 corridor.”
The JLL team of Peter Briskman, Mia Eglinton, and Amanda Davis represented JDSU in this transaction. Matan added, “This deal was a true team effort. The market knowledge and professionalism of the JLL team was paramount in getting this deal done.”
JDSU innovates and collaborates with customers to build and operate the highest-performing and highest-value networks in the world. Their diverse technology portfolio also fights counterfeiting and enables high-powered commercial lasers for a range of applications. Learn more about JDSU at www.jdsu.com and follow on JDSU Perspectives, Twitter, Facebook and YouTube.
About Matan Companies
Matan Companies, headquartered in Suburban Maryland, is one of the region’s premier commercial real estate services and development firms. Founded over 35 years ago on the principle of providing a comprehensive, full service approach, the firm’s current portfolio consists of over 4.5 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. 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 the latest news from Matan Companies please visit www.mataninc.com.