This will be St. John Properties' third development in Frederick, bringing the company's total footprint in this submarket to 1.2 million sf. St. John Properties' other two projects are Center @ Monacacy--a 423,000-sf office park, and Riverside Technology Park, which is still under construction and will deliver 487,000 sf.

The company's two parks have proven to be very successful, Wit says, which is why the company is eager to put up a third. "We have found in Frederick a great market for our product and a great jurisdiction to work with." Center @ Monacacy is fully leased, Wit says, and Riverside is only half built--but by the time the second phase of its third park is underway he anticipates Riverside will be close to full. "Our strategy is to have a ready-to-go product in the market."

The new project, which St. John hasn't named yet, will be next to Center @ Monocacy near the intersection of MD Route 85 or Buckeysville Pike and MD Route 270, just south of the City of Frederick. The park is configured to support 11 flex/research and development buildings ranging from 25,000 sf to 62,050 sf. Each building will feature 16-foot ceiling heights, rear dock loading capabilities and free parking.