St. John Properties Closes 100 KSF in B’More-Area Leases
The seven companies inked for space within Greenleigh at Crossroads, a phase of the 1,000-acre development Baltimore Crossroads @ 95.
Commercial Property Executive | Bogdan Odagescu
BALTIMORE (July 20, 2017) — St. John Properties has closed seven different leases adding up to roughly 100,000 square feet at Greenleigh at Crossroads, a phase of the 1,000-acre mixed-use development Baltimore Crossroads @ 95. The leases involve both new clients and tenant expansions.
Four companies inked leases at the 54,120-square-foot 11685 Crossroads Circle, boosting the building’s occupancy rate to 84 percent. The companies signing at the single-story flex/R&D building are:
- Alliance Franchise Brands
- Baltimore County Gymnastics
- The High Roads School
- Baltimore’s Premier Event Solutions
In addition, Applied Technology Services and Paragon Consulting signed for space at Crossroads Circle and Williams Court. An unnamed pharmaceutical company also inked for a full-building lease at the 33,120-square-foot property located at 11695 Crossroads Circle. The latter building is slated for completion by year-end.
THE PERKS OF SPEC DEVELOPMENT
“Our decision to develop commercial space utilizing a speculative building philosophy continues to pay dividends throughout our corporate portfolio,” said Richard Williamson, senior vice president of leasing and marketing for St. John Properties, in a prepared statement. “With available product on-hand, we are able to immediately respond to the diversified real estate requirements of end-users, including the expansion needs of existing tenants.”
Matt Lenihan, assistant vice president of leasing for St. John Properties, represented the landlord in all seven transactions.
Upon completion, Baltimore Crossroads will be one of the largest Mid-Atlantic mixed-use developments. The project includes 428,000 square feet of office space, 1,000 single-family homes and townhomes, 500 multifamily units, 116,000 square feet of retail amenities and a 120-key hotel.