A New Wal-Mart for Frederick
- Jun 25, 2015
Frederick is getting a new Wal-Mart Supercenter. Demolition work has already started at the site on the northwest corner of Monocacy Boulevard and Route 26 to tear down the Frederick Trading Center and make room for the new Wal-Mart.
Matan Cos., a real estate investment and development firm headquartered in Suburban Maryland, is the company behind the project. It purchased the Frederick Trading Center in 2010, with the intention of redeveloping the property. Now, after years of working with city residents, staff and officials in order to gain approvals, the project has finally started. The new Wal-Mart Supercenter will have 190,000 square feet of space.
“This redevelopment was truly a collaborative effort between Wal-Mart, the city of Frederick and most important, the surrounding neighbors,” Karl Morris, director of development at Matan, said in a statement for the press.
Matan did not reveal the cost of the project. In addition to the Wal-Mart Supercenter, the 21.5-acre development will also include three pad sites. Matan said that it is in the final stages of negotiation with Chick-fil-A for a corner pad and that the remaining two pads have attracted a lot of interest, as well. They are ideal for bank, convenience, food service and many other retail businesses.
“The combination of Wal-Mart and Chick-fil-A is one that will provide a perfect bookend compliment to the Wegman’s-anchored site to our west. The completion and opening of Wal-Mart will solidify the 26 corridor as a bona fide regional retail powerhouse,” added JP Matan, director of leasing for Matan Cos.
Demolition work is expected to be complete later this summer. The new Wal-Mart is scheduled to open its doors to the public in early fall 2016.
Photo credit: Matan Cos.