Acquisition boosts company’s Anne Arundel County portfolio to 22 business communities comprising more than 6 million square feet of flex/R&D, office, and retail space   

BALTIMORE, MD – St. John Properties, Inc. has acquired two flex/R&D buildings comprising 103,352 square feet of space in Annapolis. Formerly named Annapolis Commerce Park East, Bestgate Commerce Park includes 2001-2003 Commerce Park Drive, a 52,127 square foot building, and the 51,225 square foot 2009-2011 Commerce Park Drive. The two buildings are cumulatively 75 percent leased to three tenants.

St. John Properties was self-represented by Senior Executive Vice President, Acquisitions and Growth Sean Doordan and Assistant Vice President of Acquisitions Alex Lyons. JLL’s Dave Baker, Kevin Byrd, TJ Hamilton, and Andrew Weir marketed the property and handled negotiations on behalf of the selling entity.

The purchase expands St. John Properties’ Anne Arundel County presence to approximately 6 million square feet of office, flex/office and retail space across 22 business communities. Bestgate Commerce Park is located off Bestgate Road, directly across from Annapolis Mall and near the interchange of U.S. Route 50 and MD Route 450, adjacent to St. John Properties’ 888 Bestgate Road and one-half mile from 810 Bestgate Road, which the company also owns and manages. The two buildings total nearly 230,000 square feet and are 100 percent leased.”

St. John Properties plans to immediately invest in significant improvements throughout the business community, including exterior upgrades, new signage, and enhanced landscaping to bring the property up to the company’s standards and create a more modern and welcoming environment for tenants and visitors.

“These buildings fit well within our existing portfolio and complement our presence in Annapolis,” stated Doordan. “The proximity to our other Annapolis properties creates natural synergies, and gives us an opportunity to build on our presence in the area while investing in the property and bringing it up to St. John Properties’ standards.”

Each building is two stories and features separate single-story, direct-entry configurations in both the front and rear, along with multiple loading dock doors and loading capabilities. An adjacent free parking field supports 256 vehicles.

St. John Properties remains aggressive in its approach to identify and acquire compelling commercial real estate properties in the Maryland. The company recently acquired 10150 York Road, a five-story, 175,000-square-foot Class ‘A’ office building situated in the Hunt Valley section of Baltimore County. Last year, a St. John Properties-led partnership acquired The Villas at Patapsco Glen, a for-rent 111-unit Baltimore County townhome community in Woodlawn.

“Bestgate Commerce Park perfectly aligns with our Annapolis-area portfolio, and we intend to remain diligent in our pursuit of value-add and land opportunities across Maryland,” Doordan said.

Founded in 1971, St. John Properties, Inc. is one of the nation’s largest and most successful privately held commercial real estate firms. The company is distinguished by its commitment to customer service, achievements in green building, and top-rated workplace culture. Throughout St. John Properties’ 55-year history, the company has developed more than 25 million square feet of flex/R&D, office, retail, and warehouse space and has investments in over 3,200 residential units. The company proudly serves more than 2,800 clients in Colorado, Delaware, Florida, Louisiana, Maryland, Nevada, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Utah, and Wisconsin. For more information about the company, visit www.sjpi.com.

Read more about this story in The Baltimore Business Journal

Learn more about Bestgate Commerce Park. Find available space, view virtual tours, and more.