Leidos sells former Lockheed IS&GS Gaithersburg campus. The new owner hasn’t decided what to do with it.

Frederick-based Matan Cos. announced Tuesday it has acquired a 44-acre office campus in Gaithersburg from Leidos Holdings Inc. (NYSE: LDOS), which plans to vacate in the “near future.”

The property at 700 N. Frederick Ave. fronts Interstate 270 at the Montgomery Village Avenue exit, next to a new FedEx distribution center. It includes two connected office buildings totaling just shy of 539,000 square feet. Terms of the sale were not disclosed.

Matan has yet to decide what it will do with the campus, but its options include an office headquarters, a biotech or lab facility, a warehouse distribution location, or a “prime big-box retail site.”

It is unclear what Leidos has planned for its Gaithersburg workforce. The campus is the former home of Lockheed Martin Corp.’s (NYSE: LMT) Information Systems & Global Solutions business, until it merged with Leidos in 2016. When that $5 billion combination was announced, creating a $10 billion government contracting behemoth, Leidos said…

Read the full story from the Washington Business Journal.

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