Read more at the NAIOP Maryland website.

Larry Maykrantz joined Maryland Industrial Enterprises (the predecessor of St. John Properties, Inc.) in 1982 as Controller, and in 2011 assumed the role of President and CEO of the company which has grown to 16 offices in 13 states and has real estate assets valued at more than $5.5 billion. While overseeing all phases of the company’s operations, Maykrantz has helped guide the privately-owned firm to its current portfolio of 25 million square feet of flex/R&D, office, retail, and warehouse space, and more than 3,000 residential units.

Recently, NAIOP Maryland sat down with the 2026 Lifetime Achievement Award Winner to discuss his distinguished career.

Q: Describe your first role, and what attracted you to the company.

LM: “I answered a help wanted ad posted in The Baltimore Sun and, after a four-hour interview with Ed St. John on a Saturday, was subsequently hired as the company’s 10th employee. The company was just over 10 years old and had developed approximately 2 million square feet of mostly industrial/warehouse space in Maryland. I was attracted to the organization as it was a small, local real estate company where I felt like I could have a significant impact in the growth of the company.”

Q: What do you consider your greatest career accomplishments?

LM: “My first accomplishment I was proud to initiate in 1982, was computerizing the company. At the time, this represented a substantial investment of over $100,000 to acquire 10 computers and the software needed to automate our operations. This was a huge financial and operational risk and took about one year to fully implement.

I also consider successfully navigating the company through several commercial real estate downturns and economic recessions to be major accomplishments, with the 1991 banking crisis being the most tenuous period. Many financial institutions were struggling and began calling their loans in search of immediate liquidity, this required constant meetings and negotiations. The rallying cry was ‘survive to 95,’ and I truly lived it every day. One major takeaway from that experience was the importance of building a significant cash reserve to help weather future recessions.”

Q: How did being named president impact your decision-making and strategy to maintain company momentum?

LM: “When I joined the company 44 years ago, I worked side by side with Ed, and we collaborated on nearly every important decision. Fast-forward to today, and despite all the growth St. John Properties has experienced, our offices remain next to each other and we continue to work together every day. Upon being named president, one of my first priorities was strengthening our leadership depth by ensuring there were highly qualified team members under every department head. The strength of St. John Properties has always been our people, and we remain committed to hiring and developing the best talent to support the continued growth of the company.”

Q: How has the company changed over the years to reflect trends in the commercial real estate industry or changes in the business or economic environment?

LM: “In 1983, the company gravitated towards developing a single-story flex/R&D building that now everyone associates with St. John Properties. The flex/R&D asset class has remained the staple of our company and represents more than 15 million out of our current 25 million square feet. Around that same time, we introduced retail to our portfolio, by developing our first two shopping centers in Anne Arundel County, Old Mill Plaza and Lakeshore Plaza.

Multi-story office buildings followed, beginning with our first acquisition in 1989. In 2002, we completed our first ground-up multi-story office development: 888 Bestgate Road, a 130,000-square-foot building in Annapolis.

With our projects growing in size and scale, it was a natural progression to expand into larger mixed-use communities. We began the development of Melford Town Center in Bowie, MD in 2001, followed by Greenleigh Middle River, MD, in 2006.

Although our company had ownership in multifamily assets through various joint venture partnerships since the 1960s, the development of our mixed-use communities prompted a more focused investment into multifamily projects. Today, we have investments in more than 3,000 multifamily units and our own in-house multifamily construction team.

In 2009, we began to invest in our sustainability program, which seemed futuristic back then. It helped differentiate us from our competition while also adding value to our buildings and reducing shared costs for our tenants. Now, we are recognized as one of the top developers of LEED Certified buildings nationally by the U.S. Green Building Council.

As a company, we continually look for ways to evolve, improve efficiencies, and adapt to the changing needs of the market.”

Q: Is there anything you would have done differently in your career – do you have any business regrets?

LM: “Every business and personal decision I have made throughout my life has been based upon my thorough review of the facts and circumstances available at that time. Looking back, I can honestly say I am comfortable with my decisions and, as a result would not change anything.”

Q: How would you describe St. John Properties’ company culture?

LM: “Our company culture is centered around five core principles: teamwork, collaboration and employee interaction; maintaining a highly professional image; strict financial stability; hiring the best and the brightest people; and placing our clients’ needs first through excellent customer service. When employees turn their computers on, they are greeted with the saying ‘our tenants pay your paycheck – treat them accordingly.’”

Q: What advice would you give to young professionals entering the CRE industry?

LM: Real estate is unique because it impacts nearly every business and individual on a daily basis and is one of the few assets that appreciates over time. Like any industry, expect ups and downs, but CRE offers tremendous long-term opportunities, and I highly recommend it for those looking to build an exciting and fulfilling career.”

Q: What is the best advice you have ever received?

LM: “Enjoy the good times, but always plan ahead for the downward business cycles, which will occur. That mindset has always guided me to prepare for adverse business conditions.”

Q: Can you point to any mentors that changed your outlook or direction?

LM: “Ed St. John is the obvious answer because I have had the opportunity to work side by side with him for 44 years, and this experience has been irreplaceable. He has taught me everything I know about business, and his wisdom and integrity have helped guide me both personally and professionally. In addition, Ed Tucker, Bryson Cook, and Rich Levine have been strong influences and instrumental in my development and growth.”

Q: If not for real estate, what career path would you have chosen?

LM: “I love law, and I love tax so I probably would have combined those two passions and worked as a tax lawyer.”

Q: What are some words to live by?

LM: “Always trust your insights and instincts, as they will lead you to happiness and success.”

Q: Name something interesting or unique that people do not know about you.

LM: “When my two sons were younger, we shared the incredible achievement of earning our black belts in Taekwondo. This training instilled discipline, courtesy, and integrity – principles that have been foundational to our personal and professional development and success.”