Subaru Selects Riverside Technology Park in Frederick for New 10,000 Square Foot Regional Training Center
FREDERICK, MD (August 26, 2013) – Subaru of America, Inc. has signed a lease with St. John Properties, Inc. for 10,080 square feet of space at 8430 Spires Way within Riverside Technology Park, a 490,000 square foot mixed-used community positioned between US 15/Interstate 270 and Interstate 70 on Monocacy Boulevard in Frederick, MD. The company intends to open a regional training center at this location to support Subaru dealerships throughout the Mid-Atlantic area. This facility will provide instruction for between 10 and 24 employees on any given day.
Danny Severn, Leasing Associate with St. John Properties represented the landlord. The tenant was represented by John Wilhide, John Boote and Ken Zirk of CBRE.
Subaru of America, the United States subsidiary of Fuji Heavy Industries of Japan, is responsible for the distribution, marketing, sales and service of all Subaru vehicles in this country. The company recently announced that May 2013 vehicle sales represented a 34 percent increase over May 2012, with year-to-date sales representing a 21 percent increase over the same period in 2012. Subaru intends to use this new regional training center at Riverside Technology Park for education of company-wide protocols and offerings to its dealership network. The center will integrate a blended learning approach consisting of classrooms and hands-on vehicle instruction.
Riverside Technology Park is a 44-acre business community located in the City of Frederick, consisting of six R&D/office/flex buildings with additional developable land available along Gas House Pike and Monocacy Boulevard. The park has been experiencing significant growth including recent leases with Wells Fargo (63,120 square feet of space), Precision BioServices, Inc. (65,160 square feet of space), UTZ Quality Foods (12,000 square feet of space) and several others.
In addition to an improving national economy, the growth is attributable to the business park’s proximity to an abundance of new local food and shopping amenities and recent road infrastructure projects that provide convenient access to major highways including US 15, I-270 and I-70. The growth is also partly due to its adjacency to the new 333,000 square foot National Cancer Institute’s (NCI’s) Advanced Technology Research Facility. NCI is the nation’s only Federally-Funded Research and Development (FFRD) center dedicated solely to biomedical research and development.
“Riverside Technology Park is strategically located for Subaru to service multiple markets spanning nearby states – all from a single location in a high-quality corporate environment,” stated Matt Holbrook, Regional Partner for St. John Properties. “Subaru professionals will be able to quickly travel to this location and enjoy the new facility and all the local amenities. The large, open floor plans and abundance of natural light will also provide an ideal learning environment and curriculum flexibility required by this highly-regarded corporation.”
About St. John Properties
St. John Properties, Inc., founded in 1971, owns and has developed nearly 17 million square feet of R&D/flex, office, retail and warehouse space in Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Virginia and Wisconsin. For more information about the company, visit sjp.mu9b0uf9-liquidwebsites.com.
For more information, contact:
Al Cunniff, Director of Marketing, St. John Properties, Inc.