St. John Properties Continues Speculative Construction Program in Maryland with 1.5 Million Square Feet to be Delivered in 2020 and 2021
34 buildings, including a mix of Class ‘A’ office, flex/R&D, retail, self-storage and warehouse space are being constructed across the Baltimore-Washington, D.C. marketplace
BALTIMORE, MD (February 8, 2021) – St. John Properties, Inc., a Baltimore-based full-service commercial real estate development and investment company, intends to deliver nearly 1.5 million square feet of Class ‘A’ commercial office, flex/R&D, retail, self-storage and warehouse space in the Baltimore-Washington, D.C. region before 2021 year-end. The 34 buildings situated throughout Anne Arundel, Baltimore, Carroll, Frederick, Harford, Howard, Prince George’s and St. Mary’s counties are being constructed on a speculative basis in response to companies with present-day and emerging real estate needs in the Maryland region. Seventeen buildings comprising approximately 750,000 square feet of space have already been delivered, with 17 buildings totaling more than 650,000 square feet of space currently under construction.
“The entire St. John Properties team has persevered through challenging conditions in 2020, and we remain on track to deliver a total construction volume that is consistent with prior years in response to continued strong leasing activity throughout our Maryland portfolio,” explained Sean Doordan, Senior Vice President of Leasing and Acquisitions for St. John Properties. “Essential businesses and those in the laboratory, assembly and distribution sectors continue to rely on access to flexible commercial space to meet their business demands. The St. John Properties corporate model is predicated on constructing real estate product on a speculative basis to anticipate, and immediately respond to, the needs of our clients which has served us extremely well for 50 years.”
Anne Arundel County development activity
Fourteen buildings comprising more than 589,000 square feet of space, representing more than half of the pipeline of Maryland construction projects, will be completed in the Anne Arundel County marketplace this year. Highlights of the program include the completion of 810 Bestgate Road, a 100,000 square foot multi-story medical office building in Annapolis, which is already 70% leased; the delivery of three buildings at BWI Tech Park near Baltimore/Washington International Airport; and the completion of three flex/R&D buildings totaling nearly 100,000 square feet of space at Waugh Chapel Business Park adjacent to Waugh Chapel Towne Centre in Gambrills.
Baltimore, Carroll, Harford and Howard County development activity
Activity in Baltimore, Carroll and Howard Counties consists of the delivery of six buildings totaling nearly 300,000 square feet of space and features 8130 Maple Lawn Boulevard, a four-story commercial office building offering more than 115,000 square feet of Class ‘A’ office space. The project is contained within the mixed-use community of Maple Lawn, which is being developed by master developer Greenebaum Enterprises along with St. John Properties, and is located in Fulton. St. John Properties delivered a 13,000 square foot retail building at Greenleigh near White Marsh earlier this year, and is currently constructing a 34,000 square foot flex/R&D building at Dolfield Business Park in Owings Mills. In the Eldersburg section of Carroll County, St. John Properties completed a 29,000 square foot flex/R&D building. Construction is also underway on two flex/R&D buildings comprising nearly 95,000 square feet of space at The GATE at APG, a business community that primarily serves the real estate requirements of companies performing business associated with Aberdeen Proving Ground.
Frederick County development activity
Nine buildings comprising nearly 475,000 square feet of flex/R&D, retail and high-bay warehouse space will be delivered in Frederick County. A new 8,500 square foot retail building at Westview Business Park will be home to the county’s first MISSION BBQ location, and two high-bay warehouse buildings totaling more than 235,000 square feet of space will be completed at Arcadia Business Park.
Prince George’s and St. Mary’s County development activity
In the suburban and southern portions of Maryland, St. John Properties is currently constructing an 8,000 square foot retail building, and 70,000 square feet of flex/R&D space across two buildings at Melford Town Center. Two flex/R&D buildings, totaling more than 92,000 square feet of space, are being constructed within Lexington Exchange, a 140-acre mixed-use community located adjacent to the Patuxent Naval Air Station.
St. John Properties is also remaining extremely active with speculative development activities throughout its eight-state portfolio situated across the United States. Last year, the company announced the acquisition of nearly 40 acres of land in Utah, together with plans to immediately develop 11 buildings comprising more than 600,000 square feet of commercial office and flex/R&D space across two business communities. St. John Properties also revealed plans to develop Simms Technology Park, a 600,000 square foot, $95 million mixed-use business community near Denver, Colorado.
“Leasing activity is returning to pre-COVID levels and we are proceeding with this plan in Maryland with tremendous optimism,” stated Doordan. “The critical economic drivers in this region including low unemployment, a diverse business environment, an outstanding location in the Mid-Atlantic region and a highly-skilled workforce remain intact, continues to provide us ongoing confidence in future demand.”
Founded in 1971 and headquartered in Baltimore, Maryland, St. John Properties, Inc. is one of the Mid-Atlantic’s largest privately held commercial real estate firms. The company is distinguished by their commitment to customer service, achievements in green building, and top-rated workplace culture. Throughout St. John Properties’ 50-year history, the company has developed more than 21 million square feet of flex/R&D, Office, Retail and Warehouse space serving more than 2,500 clients in Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Virginia, Utah, and Wisconsin. For more information about the company, visit sjp.mu9b0uf9-liquidwebsites.com.