Matan Companies Breaks Ground on New Strip Retail Development in Gaithersburg, MD

FREDERICK, Md., April 6, 2026 /PRNewswire/ -- Matan Companies announced today the groundbreaking of 10,175 square feet of strip retail situated on a prime one-acre parcel at 715 Progress Way in Gaithersburg, Maryland. The development represents the next phase of retail growth at the highly visible intersection of Montgomery Village Avenue and MD-355, which already features established national brands including Chick-fil-A and Sheetz.

The retail expansion is designed to serve both the surrounding community and the robust workforce located directly on-site. Positioned behind the retail development are two 198,000-square-foot Class A buildings, also developed by Matan Companies. These state-of-the-art facilities are currently 100% leased to a prestigious roster of tenants, including AstraZeneca, Montgomery County Public Schools (MCPS), and Daikin Comfort Technologies Distribution, Inc.

In addition to the current groundbreaking, Matan Companies is actively marketing three remaining pad sites totaling four acres. These sites offer a rare opportunity for premium brand positioning within a fully stabilized corporate and retail environment.

"We're excited to continue expanding this dynamic destination in Gaithersburg," said James Matan, Director of Leasing for the Matan Companies. "With strong existing traffic generated by Chick-fil-A and Sheetz, along with excellent accessibility, this site offers an ideal opportunity for retailers."

Located directly along I-270 between the Montgomery Village Avenue and Watkins Mill Road interchanges, the site benefits from strong traffic counts, proximity to major employment centers, and convenient access to key transportation routes.

Construction on the strip retail center is now underway, with leasing opportunities currently available for both the inline retail space and the three pad sites.

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 50 years ago on the principle of providing a comprehensive, full-service approach, the firm's current portfolio consists of over 10 million square feet of industrial/bio-life science/office assets, 20 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.

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SOURCE Matan Companies