Business
Matan Companies Fully Leases Final Building at Northlake II in Ashland, VA with 203,000 SF Lease to DPR Construction
Matan Companies, a leading Mid-Atlantic industrial developer, announced today that it has secured a full-building lease for the final phase of its Northlake II industrial park. The 203,000-square-foot building has been leased to DPR Construction, a top-tier general contractor renowned for delivering innovative construction solutions across commercial, healthcare, higher education, technology, and life sciences sectors.
About this update from Ferguson Enterprises Inc.
[{"type":"text","content":"FREDERICK, Md., Dec. 24, 2025 /PRNewswire/ -- Matan Companies, a leading Mid-Atlantic industrial developer, announced today that it has secured a full-building lease for the final phase of its Northlake II industrial park. The 203,000-square-foot building has been leased to DPR Construction, a top-tier general contractor renowned for delivering innovative construction solutions across commercial, healthcare, higher education, technology, and life sciences sectors.","length":468,"tagName":"p"},{"type":"image","alt":"Northlake II Industrial Park","displaySize":"","headline":null,"caption":"Northlake II Industrial Park","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":211,"url":"https://media.zenfs.com/en/prnewswire.com/3c87101fbc2775ad4369186a502c067a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/zULD98bcARcBEkQYEnq0sw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM3MjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/3c87101fbc2775ad4369186a502c067a","width":400,"height":211},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/8vX3Gq_tE7BKLr3QmGcRqw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTMzODtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/3c87101fbc2775ad4369186a502c067a","width":400,"height":211}},"href":"https://mma.prnewswire.com/media/2851345/Matan_Companies_Northlake_II_Industrial_Park.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Northlake II, located in Ashland, Virginia, approximately 15 miles north of Richmond, is a premier Class A industrial development spanning four buildings and totaling 548,000 square feet. Phase I (Buildings A, B, and C), totaling 345,000 square feet, was delivered and leased in early 2024 to tenants including Ferguson Enterprises, Chadwell Supply, Envoy Solutions, and Haskell Hardware. The strategic positioning along Interstate 95 provides connectivity to the East Coast's primary north-south corridor, ideal for logistics, manufacturing, and distribution operations in Hanover County's thriving market.","length":615,"tagName":"p"},{"type":"text","content":"Construction on Building D commenced in summer 2025, with completion targeted for late spring 2026. This lease underscores the robust demand for high-quality industrial space in Greater Richmond, where vacancy rates remain low and absorption continues to outpace new supply.","le...