- October 28, 2019
- Press Releases
Merritt Secures Land Along Interstate 95 in Stafford County, VA
(Stafford County, Virginia) – Merritt Properties, a full-service commercial real estate development company that was established in 1967 and now owns over 16 million square feet throughout Maryland and Virginia, has successfully closed and acquired 15 acres at the Quantico Corporate Center in Stafford County, VA, strategically located along I-95 south of the Washington, D.C. metro area. Following successful projects in Loudoun and Prince William counties, Merritt identified the I-95 corridor as its next growth market. The Merritt Business Park at Quantico Corporate Center will include two single-story flex/light industrial buildings, totaling 162,600 square feet.
With a lack of Class A light industrial product in the market, Merritt’s project is designed to cater to a diverse industry base, including government contractors, distribution centers, manufacturing and service providers. The site is located directly adjacent to the Marine Corps Base Quantico and offers a strong local workforce, tremendous access to transportation systems and an extensive fiber-optic network.
“The business attraction focus of Stafford County has given Merritt confidence that the county supports new office/flex development, as well as the future of their tenants,” stated Supervisor Jack Cavalier, Griffis-Widewater District. “We look forward to watching Merritt and new businesses grow with us.”
“Stafford County continues to prove that its intent to be a business-friendly community is sincere,” said Michael Larkin, regional director of Merritt’s Virginia office. “Their effort to build the county’s economy has assisted with attracting new and expanding businesses to the area, and with our new buildings, we are excited about the prospects of attracting new customers.”
The Quantico Corporate Center (QCC) is the region’s premiere Class A business park. The campus is home to leading defense and technology companies, the US government and top academic programs offering both undergraduate and graduate-level degrees. Two hotels, various amenities and restaurants, including the popular Globe & Laurel restaurant, makes QCC an attractive place for businesses to locate. The Class A flex style buildings that Merritt will be constructing will complement the existing Class A office product in the park.
“We are thrilled to announce that Merritt Properties will be developing property in Stafford County. Their flex industrial product is top notch and on the leading edge of construction for the entire market. More importantly, the company works with extreme integrity. Strong community and family values are an integral pillar of the organization’s foundation. Merritt’s buildings will be an asset to the county, and to the region at large.” said David Newman, Vice President, Silver Companies.
Developed by the Silver Companies of Fredericksburg, VA, the Quantico Corporate Center is located just 25 miles south of the Washington Capital Beltway along Interstate-95 and only 600 yards from the South Gate of Quantico Marine Corps Base.
“We are very excited to have Merritt develop new speculative flex space, a significant investment in Stafford County,” said John Holden, Executive Director of Stafford County Economic Development & Tourism. “Merritt’s expertise in their product may attract more demand from outside of Stafford.”
Construction will be managed by Merritt Construction Services, the construction division of Merritt Companies. Pre-leasing is underway with the buildings scheduled to deliver in fall 2020.
Cameron Coleman of Coldwell Banker Commercial Elite represented Merritt Properties on the acquisition.