Matt Holbrook, St. John Properties, Inc. (second from left on stage and holding microphone) with (far left) Bisnow’s Brad Amron; Andrew Brown, Cohn Property Group; Alisa Brem Rosenberg, Junction Development; Brad Benna, Matan; and moderator Laura Fritts, Division of Economic Opportunity, Frederick County. 

Presenting remarks at the recent “Future of Frederick County” event sponsored by Bisnow and attended by a standing-room only crowd of several hundred businesspeople at Citizens Ballroom, a converted bank on East Patrick Street, St. John Properties’ Regional Partner Matt Holbrook explained that “community” is what makes the greater Frederick region truly stand out. “I am referring to the neighborhoods of Frederick which offer amazing places to live and raise a family, as well as the business communities, which provide strategic locations with great projects where companies can operate, grow and prosper.” He added, “it is the high quality of life that lures both businesses and employees to the region, offering a less-dense environment, lower prices, and a wide range entertainment and social activities, while maintaining proximity to major metropolitan areas.”

Holbrook shared the stage with several developers of commercial office, warehouse/industrial, retail, and residential product who all took turns extolling the virtues of operating in the Frederick region. The event kicked off with a welcome address from Frederick County Executive Jessica Fitzwater who stated “Frederick is situated at the intersection of opportunity and innovation. We welcome new development and investment but it must be completed the right way and fit neatly into our community.” Fitzwater added, “through these efforts it is essential to preserve open space and agriculture.”
     

Holbrook added that, since entering the Frederick market more than two decades ago, St. John Properties has developed nearly two million square feet of commercial office, warehouse/industrial, retail and, predominantly, its signature flex/R&D product type. “We like to stick to our knitting and keep building what we do best, while also striving to adapt and evolve,” Holbrook said. He added that the company is nearing the completion of leasing at Riverside Tech Park, a 70-acre business community featuring more than 750,000 square feet of space, and is set to break ground on four new buildings EastPark, a new 77-acre park configured to support nearly 475,000 square feet of flex/R&D space alongside retail pads.

“As most of us in this room know, Frederick is the secret gem in the mid-Atlantic region, but now the secret is out, and developers from outside the immediate area are increasingly entering the market,” Holbrook said. “This is placing an additional strain on the resources of local municipalities who are still struggling to keep pace with all the work. In an ideal world, we need to reduce the amount of time needed to obtain approvals from local jurisdictions from one year to six months or even less,” he added.

“The business and real estate development community is facing many challenges in the current turbulent environment, including policy changes that impact companies and their decisions,” Holbrook added. “The greater Frederick market continues to show remarkable diversity, resilience, and economic strength, and St. John Properties is extremely optimistic about the long-term prospects of this area. We intend to remain aggressive and true to our speculative development philosophy, and continue to pursue opportunities to acquire land.”