St. John Properties Attracts EDCO and Royal Farms to Riverside Technology Park in Frederick, MD
Equipment Development Company signs 29,280 square foot lease for custom fabrication division and Royal Farms leases pad site location within business community for convenience store and gas station
BALTIMORE, MD (September 18, 2017) – St. John Properties, Inc. has signed new leases with two companies comprising more than 30,000 square feet of space within Riverside Technology Park, a 44-acre business community located in Frederick, Maryland. Equipment Development Company (EDCO), a local company engaged in the concrete and construction industries, has leased 29,280 square feet of space within 8430 Spires Way and Royal Farms has leased a pad site to construct a 5,371 square foot full-service convenience store and fuel station. Danny Severn and Bill Holzman of St. John Properties represented the landlord in both transactions, with Justin Ausherman of Rockpoint Commercial representing EDCO.
Founded more than 55 years ago and headquartered in Frederick, EDCO manufacturers and sells a complete line of equipment that is utilized for surface preparation, floor grinding and concrete removal including vacuum systems, scalers and industrial grinders. The company also markets a line of professional sawing equipment that is designed for specific masonry, tile and water tank uses, among other applications. The new facility at Riverside Technology Park will be occupied by EDCO’s custom fabrication division.
8430 Spires Way is a single-story, 87,240 square foot flex/R&D building featuring 16 foot ceiling heights, dock and drive-in loading facilities and a flexible design that can accommodate office, light manufacturing, warehouse and logistics requirements. The building offers direct, ground floor access for individual tenants and is surrounded by a free, surface parking lot. Riverside Technology Park is located between MD Route 26 and Interstate 70 on Monocacy Boulevard.
Headquartered in Baltimore since 1959, the chain of Royal Farms stores stretches throughout nearly 180 locations in Maryland, Delaware, Virginia and Pennsylvania. The diversity of product offerings range from breakfast sandwiches and coffee to its signature Royal Farms Chicken, as well as made-to-order hot and cold submarine sandwiches. Royal Farms also offers “on-the-go” snacks including wraps, salads and fruit and vegetable cups, as well as household staple products such as milk, juice and assorted dairy products. Most stores are open 24 hours a day, seven days a week. Royal Farms expects to break ground on their new building this fall, with an expected opening date of mid-2018.
“Attracting EDCO represents a significant win for Riverside Technology Park given the size of the lease, combined with the company’s pedigree as among the most well-respected and stable corporations in the Frederick region,” explained Matthew Holbrook, Regional Partner for St. John Properties. “The addition of Royal Farms to the business community incorporates a strong amenity to the benefit of existing tenants, and also represents a highly-recognized brand offering an assortment of food products and fuel. It remains a long-standing foundation of our company to continuously offer available space for growth to a wide-range of tenants, with local companies in particular.”
Riverside Technology Park is among several developments initiated by St. John Properties in Frederick, with the initial phasing of buildings starting in 2001 and completion of the final building in 2008. The addition of these new tenants brings the occupancy for the 487,000 square foot business community to more than 90%. The business community is situated within close proximity to Frederick Municipal Airport, and is located approximately 55 miles from Washington, D.C. and 45 miles from Baltimore City.
St. John Properties, Inc., founded in 1971, owns and has developed more than 18 million square feet of flex/R&D, office, retail and warehouse space in Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Virginia, Utah and Wisconsin. For more information about the company and their philanthropic efforts, visit www.sjpi.com