A commercial real estate developer headquartered in Baltimore has purchased
15 acres at the Quantico Corporate Center in Stafford County from QBP LLC, a Silver Co. entity, for a business park.
Merritt Properties’ total investment in what will be called Merritt Business Park at Quantico Corporate Center is estimated at $30 million, according to company spokeswoman Missy Teague. It will include two single-story, flex/light industrial buildings, totaling 162,600 square feet.
“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’s Economic Development & Tourism Department, in a news release. “Merritt’s expertise in their product may attract more demand from outside of Stafford.”
Merritt Properties was established in 1967 and now owns more than 16 million square feet throughout Maryland and Virginia. It has identified the Interstate 95 corridor as its next growth market, and noted the lack of Class A light industrial buildings there. The Class A flex style buildings that Merritt will be constructing are designed to complement existing Class A office space in the Quantico Corporate Center.
David Newman, a Silver Co. vice president, said Merritt Business Park will look much like the company’s Merritt I–66 Business Park in Manassas.