St. John, JK Moving Team Up for Rt. 50 Land Purchase
LoudounNow
LOUDOUN COUNTY, VA (September 11, 2017) — St. John Properties, together with partner JK Moving Services, has completed the purchase of an undeveloped 104-acre industrial park property along Rt. 50 west of Stone Ridge.
The new owners said there were no immediate plans to develop the Quail Ridge Farm property, which was acquired for $12.9 million. Approximately 71 acres is usable for development and the site is predominately zoned Planned Development-Industrial Park, with a portion zoned R-1 for residential uses. Quail Ridge Farm is on the north side of Rt. 50, west of the StoneSprings Hospital Center
“With the rate of consumption of commercial land elsewhere in Loudoun County, the Rt. 50 corridor will be the next exciting place for growth in the coming years,” stated Matt Holbrook, regional partner for St. John Properties. “There currently exists strong development in the area, as evidenced by various residential communities, retail centers and planned data center developments. This acreage is directly in the path of future growth. With this property and several others, we are in a prime position to play a significant role in development activity in Northern Virginia for the foreseeable future.”
“Placing this acreage in the capable hands of St. John Properties is a significant win for Loudoun County area residents and local businesses,” stated Buddy Rizer, executive director of Economic Development for Loudoun County. “The company has an impressive track record and stellar reputation for delivering high-quality business environments that serve the real estate needs of companies in diverse industries. They support the local community and have always been receptive to county input. Developing this property will contribute significant economic development dividends.”
St. John Properties has developed and is currently active with numerous commercial real estate projects in the Northern Virginia. This includes Ashburn Crossing, a mixed-use business community that will include more than one million square feet of new commercial office and amenity space; Ashburn Technology Park, comprising approximately 450,000 square feet of space; Leesburg Tech Park, being developed for more than 160,000 square feet of space; and Loudoun Tech Center in Sterling, a project that supports approximately 130,000 square feet of space. Additionally, St. John Properties has several other pending transactions in process as it continues to explore more land opportunities in Loudoun and Prince William Counties, the company stated.