Healthcare giant AstraZeneca signed a building lease in Gaithersburg, real estate development and investment firm Matan announced Tuesday.
AstraZeneca, an international biopharmaceutical company, will occupy a 198,000 square-foot building at 700 Progress Way. This increases AstraZeneca’s presence in Gaithersburg. It has more than 3,500 employees there.
Councilmember Dawn Luedtke called it a “huge win” for Montgomery County and Gaithersburg.
“We are excited to welcome AstraZeneca to our portfolio and to have the opportunity to support their work in advancing healthcare solutions,” said JP Matan, Director of Leasing for the Matan Companies. “AstraZeneca’s decision to choose 700 Progress Way for its operations reinforces the property’s strategic location within the Montgomery County life sciences corridor and the flexibility of the buildings to accommodate everything from cGMP to distribution.”
700 Progress Way is part of a 44-acre life science and industrial campus that fronts I270 between the Montgomery Village Avenue and Watkins Mill interchanges.
— Councilmember Dawn Luedtke (@dawn_luedtke) December 6, 2023
🎉 Exciting news! @AstraZeneca is expanding in Montgomery County with a big new lease In Gaithersburg. This reinforces our position as a thriving biotech hub! We are proud to have them deepen their roots in our community. https://t.co/BkPGYJhzUt pic.twitter.com/r20MSIjQku
— Montgomery County MD (@MontgomeryCoMD) December 6, 2023