Back in April 2021, Matan Companies announced plans to transform its Milestone Business Park in Germantown into a vibrant and collaborative life sciences destination known as Milestone Innovation Park.
The transformation will include the addition of 532,000 square feet of best-in-class bio-manufacturing and life science research space in three, brand new facilities. Milestone Innovation Park is located at Milestone Center Ct near William B. Gibbs Elementary School and sits along the I-270 Biotech Corridor with prominent visibility on I-270 at Father Hurley Boulevard in Germantown. Once complete Milestone Innovation Park will be one the largest, science-based destinations in the BioHealth region at over 1.2 million square feet.
“This is not a simple rebranding or office conversion,” said Mark Matan of the Matan Companies. “We are going to deliver three, next generation biomanufacturing and research buildings. Milestone already consists of 40% research, development, and tech manufacturing users, so this is a natural evolution. The existing Class A office space will allow for co-location of collaborative, synergistic users to support the research, production, supply-chain, technological needs, and administrative support of the rapidly evolving life sciences industry”.
The project has been slated to break ground early this year and be fully complete by summer 2023, this will be the premier location for companies with large research and bio-manufacturing requirements. Fronting I-270, the development offers 33’ clear ceiling heights to accommodate a wide array of bio users and their supply chain, as well as 40’x40’ column spacing and significant floor loads to support their mezzanine requirements. Tenants can expect ample parking and loading spaces, solar vehicle charging stations and secure outdoor equipment areas.
“As Montgomery County’s BioHealth region continues to mature from early stage to large scale commercialization, there is a burgeoning demand for facilities that are more technical in nature to meet tenant’s biomanufacturing production needs,” said Pete Briskman, Broker Lead for JLL’s Maryland Region. “Milestone Innovation Park will fit this immediate need and will help further solidify Maryland as one of the country’s top BioHealth clusters.”
Matan intends to take advantage of Montgomery County’s new “Speed to Market” initiative. This new program will provide a more streamlined, concurrent review of the sketch, preliminary, and site plans, saving valuable time for potential new tenants and helping spur new economic and employment growth opportunities in the county.
“The need for Milestone Innovation Park demonstrates how quickly the demand is rising for life sciences companies looking to locate, expand and grow in Montgomery County,” said Benjamin H. Wu, MCEDC President and CEO. “This smart and significant investment by Matan Companies recognizes our fast-paced growth as an international Immunology Capital. Global leaders are drawn to our highly educated workforce and proximity to NIH, the world’s largest federal researcher, and the FDA, the world’s largest federal regulator. The timely completion of Milestone Innovation Park will help create faster access to the biomanufacturing and research space sought out by immunology companies.”