St. John Properties bets big on spec, cites ‘continued confidence’ in Md. economy

St. John Properties bets big on spec, cites ‘continued confidence’ in Md. economy

A bundle of 10 speculative buildings spanning four suburban counties and totaling 650,000 square feet are now under construction by St. John Properties.

The projects will produce a total of 400,000 square feet of new Class A office in Anne Arundel, Howard, Carroll and Baltimore counties. In Anne Arundel, for example, four buildings comprised of more than 200,000 square feet are under development.

The Anne Arundel projects include a 126,500-square-foot building at I-97 Business Park.

The new construction “is spurred by our continued confidence in the Maryland economy,” Rick Williamson, St. John’s senior vice president of leasing, said in a statement.

Williamson said the company’s leasing activity this year is showing strength in health care and technology.

“We envision the continuation of this leasing activity in the long-term, and this new development positions our company to take full advantage of existing market dynamics,” he added.

The St. John development also includes a 75,000-square foot, three-story office building at Greenleigh at Crossroads in eastern Baltimore County and two flex buildings in the Dolfield Business Park in Owings Mills.

In Carroll County, St. John is building new office space at Liberty Exchange totaling about 30,000 square feet.

A four-story, 100,000-square-foot office building in Annapolis Junction Town Center is also underway as well as a new four-story, 105,000-square-foot office building in Maple Lawn. Both are in Howard County.

Baltimore-based St. John has developed more than 18 million square feet of flex, office, retail and warehouse space in eight states across the country.

Melody Simmons
Baltimore Business Journal

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