(Frederick, Maryland) Matan Companies, developer of the National Cancer Institute’s 332,000 SF Advanced Technology Research Facility at Riverside Research Park in Frederick, Maryland, delivered the shell building 29 days ahead of schedule to SAIC-Frederick to begin the tenant fitout construction.
“This project was anything but your typical office building construction,” said Karl Morris, Director of Development for Matan Companies. “The facility was largely designed from the inside out to accommodate the unique specifications required to become a truly state-of-to-art research and development laboratory and manufacturing facility,” Mr. Morris added.
Morgan-Keller constructed the core and shell of the National Cancer Institute building. Site work and construction of the core and shell took approximately 15 months to complete. The project is comprised of four individual tilt-up concrete structures, connected via a three story atrium. The Whiting-Turner Contracting Company was awarded general contractor for the $113M interior tenant improvements, which commenced on December 14, 2010 and is anticipated to be complete by summer 2012.
Financing for the National Cancer Institute building was secured by Matan and Federal Capital Partners and consists of a $52 million dollar construction loan from Wells Fargo Bank and US Bank. The ATRF is one of the largest private biotech developments in the country to secure construction financing.
This state-of-the-art facility is a government-owned, contractor-operated National Laboratory, with SAIC-Frederick, Inc. as its prime contractor. It is dedicated to rapidly translating basic research into new technologies for diagnosing, treating, and preventing cancer and AIDS. It will maintain a full suite of advanced technologies in areas such as nanotechnology, genomics and imaging; the federal government’s only drug and vaccine manufacturing facilities; and highperformance Advanced Biomedical Computing Center. “The NCI has identified an urgent need to convert basic research findings into effective cancer treatments that can be delivered to patients right away,” said Larry O. Arthur, Ph.D., president of SAIC-Frederick. “The consolidation of our operations into modern facilities will enable us to do just that, with the specific goal of shortening timelines, reducing costs, and increasing productivity—all of which will benefit cancer patients and people at risk for cancer.”
Headquartered in Frederick for over 30 years, Matan Companies is one of Maryland’s premier commercial real estate development firms. Matan continues to develop, manage and lease top tier office, flex, lab and warehouse space. Committed to attracting and retaining tenants, Matan’s portfolio of 37 buildings in excess of 3 million square feet, boasts an overall vacancy rate of less than 5%. In addition, Matan has in excess of 3 million square feet of commercial projects in various stages of development in the Washington, D.C. area. More information about Matan can be found at www.mataninc.com
About Federal Capital Partners
Federal Capital Partners (FCP) is a Washington, DC based privately held real estate investment company that has acquired interests in more than $2 billion in assets since 2003. FCP invests in residential and commercial assets throughout the Mid-Atlantic Region, including Washington, DC; Baltimore, Philadelphia, the Virginia Tidewater region and the Raleigh/Durham area. Over the past two years, FCP has been one of the most active investors in the Washington region, amassing more than $1 billion in real estate assets. FCP’s managing partners are Tom Carr, Esko Korhonen, Alex Marshall and Lacy Rice. Through its discretionary commingled private equity funds, FCP invests directly in core plus, value-add, opportunistic and development properties. In addition, FCP provides both equity and debt capital to real estate operating partners. Through its funds, FCP is aggressively seeking office, residential (for-sale and forrent), industrial and retail investments in all of its target markets.
About Riverside Research Park
The 177 acre park has all necessary infrastructure and utilities in place and is ready to build. Riverside Research Park can accommodate up to 1.8 million square feet of lab, R&D, and office space and is located within the city limits of Frederick and less than four miles from the main gates of Fort Detrick and NCI-Frederick. For more information visit www.riversideresearchpark.com.
About National Cancer Institute-Frederick
NCI-Frederick partners with university, private sector, and government scientists to speed the translation of laboratory research into new treatments for cancer and AIDS. With about 3,000 government and contract employees and a unique array of advanced technologies, NCI-Frederick is bridging the gap between discovery and healthcare delivery. NCI-Frederick investigators assess research for its value to patients, accelerate its development, and make it available to the business sector for commercialization. More information about NCI’s Advanced Technology Partnerships Initiative (ATPI) can be found at www.atpihome.com