BALTIMORE, MD-St. John Properties is movingforward with the development of ten multi-story andsingle-story office, R&D/flex and retail buildings insix business communities in this state. The building will beunderway by mid-September. Totaling more than 250,000square feet, the buildings will be located in suchsubmarkets as Reisterstown in Baltimore County to Annapolis in AnneArundel County.
The most ambitious element to St. John Properties' plans is thatthe buildings are being developed on spec.
"Our research indicates sustained pent-up demand forstrategically-positioned office and retail space throughout theCentral Maryland and Northern Virginia marketplaces, and we areaggressively reacting to this trend with a combined half-millionsquare feet of new product this year," Jerry Wit,SVP for St. John Properties, says in a prepared statement.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
