Steel Products Inc. — a woman-owned company founded in 1954 — recently closed on a deal for 15,000 square feet of flex industrial space at 4724 Arcadia Drive in Frederick, Md. The 48,120-square-foot building is part of Arcadia Business Park, a 61-acre development located off the MD Route 85 (Buckeystown Pike) that currently features four single-story flex/R&D buildings totaling approximately 160,000 square feet of space, alongside two high-bay warehouse buildings.
Originally founded in Washington, D.C., Steel Products’ first move was to Rockville, Md., where it took up residence at 670 Lofstrand Lane for several decades. However, the company’s current move to a new headquarters was driven by its expanding operations throughout the greater Maryland, northern Virginia and Washington, D.C. regions.
Steel Products specializes in the installation of educational and laboratory casework and equipment; shelving and bathroom partitions; lockers; and visual display boards. Its services are used by various educational institutions, commercial office buildings and companies within the life sciences industry.
“After selling our building in Rockville, we conducted a comprehensive real estate search throughout the I-270 corridor to determine the placement of our new corporate headquarters and identified Frederick as the perfect landing spot,” said Steel Products President, Maureen Murphy. “The area provides a high quality of living for our employees with numerous amenities, and it is connected to major metropolitan areas by a major highway network.”
Among the property’s main attractions, the tenant highlighted the option to customize the interior buildout of administrative and sales office areas, along with ample storage for equipment and space for logistics facilities.
Danny Foit of St. John Properties represented the landlord in this transaction. The rent remains undisclosed, but office asking prices in Frederick, Md., are around $14.47 per square foot.
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