St. John Properties 2014 Corporate Highlights
BALTIMORE (January 26, 2015) – St. John Properties, Inc. has revealed the company’s list of 2014 corporate highlights and accomplishments, which include the launch of its Gaming Division, the completion of the 50th office lease at The GATE at Aberdeen Proving Ground in Harford County and the signing of a 97,128 square foot lease with Cisco Systems, Inc. at the Maple Lawn business community in Howard County. The company signed 291 leases throughout its Maryland-Virginia portfolio in 2014, totaling more than 1.7 million square feet of R&D/flex, office, retail and warehouse space. The list of highlights include:
- Completion of the first retail building in Reisterstown Crossing, a 10-acre mixed-use business community in Baltimore County near the intersection of Interstate 795 and Westminster Pike.
- Signing the 50th lease at The Government and Technology Enterprise (The GATE at APG) project, a 416-acre business community located inside Aberdeen Proving Ground (APG) in Harford County. Since assuming full construction, marketing and leasing rights in 2009 to continue the development of The GATE at APG, St. John Properties has developed 12 office and research and development (R&D) buildings totaling more than 600,000 square feet of space, and has leased approximately 530,000 square feet of new space.
- Launch of the company’s Gaming Division to acquire, stabilize and improve existing casino properties situated throughout the country, as well as develop and construct new projects. St. John Properties currently operates Reserve Casino and Hotel in Central City, Colorado and Boomtown Casino and Hotel in Verdi, Nevada. Christina Berzins was promoted to Partner to oversee all operational, management and acquisition activities of this division.
- Sale of 16.5 acres of land at Ashburn Crossing in Loudoun County, Virginia for $8.6 million. The property is located along Gloucester Parkway near the intersection with Loudoun County Parkway. St. John Properties maintains ownership of the remaining 83 acres of Ashburn Crossing, a mixed-use development project that on completion will feature up to two million square feet of office, retail and R&D/flex uses.
- Groundbreaking for a new 12-screen, 45,000 square foot movie theatre for R/C Theatres at Lexington Exchange, a mixed-use project located at the intersection of Three Notch Road and Wildwood Boulevard in California, MD in St. Mary’s County.
- Completion and grand opening of a new 40,000 square foot free-standing building owned by The Sofa Store/The Big Screen Store at Cromwell Business Park off Interstate 97 near Baltimore-Washington International Airport.
- Acquisition of a three-building, 125,000 square foot office/flex portfolio located in Sterling, Virginia for $11.65 million. St. John Properties now owns and manages more than 570,000 square feet of office and flex space in the Northern Virginia market, and owns approximately 83 acres of land for several future development projects.
- Signing of a 97,128 square foot lease with Cisco Systems, Inc. at 8135 Maple Lawn Boulevard, a four-story, 138,900 square foot Class “A” office building in the Maple Lawn mixed-use community in Howard County.
- Completion of the company’s 25th building earning LEED Gold or Silver certification from the United States Green Building Council (USGBC) for satisfying Leadership in Energy and Environmental Design (LEED) requirements and elements in the construction of commercial office buildings.
- Start of construction by K. Hovnanian Homes of 108 upscale townhouses at North Point Crossing in the Dundalk section of Baltimore County on the former site of the North Point drive-in movie theatre.
- Completion of office and retail buildings comprising approximately 35,000 square feet of space at Route 100 Tech Park, an 18-acre mixed-used community located off Rt. 100 near BWI Airport in Anne Arundel County.
“2014 was a very good year for St. John Properties, as our team exceeded every leasing, acquisition, sales and construction goal, as well as establishing strong momentum as we move into 2015,” said Larry Maykrantz, President of St. John Properties. “We remain among the few commercial real estate companies in the Maryland area that anticipate the marketplace and consistently construct speculative real estate projects. In addition, our leasing and retention rate exceeds the industry standards, based on our ability to identify and satisfy the real estate requirements of our more than 2,000 clients.”
St. John Properties, Inc., founded in 1971, owns and has developed nearly 17 million square feet of R&D/flex, office, retail and warehouse space in Virginia, Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Utah and Wisconsin. For more information about the company, visit www.sjpi.com.
For more information, contact:
Al Cunniff, Director of Marketing, St. John Properties, Inc.