BALTIMORE, MD-St. John Properties is moving forward with the development of ten multi-story and single-story office, R&D/flex and retail buildings in six business communities in this state. The building will be underway by mid-September. Totaling more than 250,000 square feet, the buildings will be located in such submarkets as Reisterstown in Baltimore County to Annapolis in Anne Arundel County.
The most ambitious element to St. John Properties' plans is that the buildings are being developed on spec.
"Our research indicates sustained pent-up demand for strategically-positioned office and retail space throughout the Central Maryland and Northern Virginia marketplaces, and we are aggressively reacting to this trend with a combined half-million square 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.
