St. John Properties Preps for $40M Flex/Office Park

FREDERICK, MD-St. John Properties Inc. will break ground this spring on the first phase of a $40-million flex/office park located here, with an expected delivery date of Q4 2007. The company has acquired a 104-acre tract of land near the intersection of Route 85 and Interstate 270 from the Russell family, local investors.

At full build out, the park could support up to 11 buildings. The Baltimore-based developer’s initial plans call for the construction of two single-story buildings that will be between 45,000 sf to 60,000 sf each, Dennis Castleman, vice president of marketing, tells GlobeSt.com. “These will be built on spec. We plan on starting the leasing process immediately.”

Jerry Wit, senior vice president of marketing and leasing for St. John Properties, says in a statement that the company’s typical flex/office building design is geared to small and medium-sized users of space, “particularly those in search of a combination of office, manufacturing or warehousing capabilities.”