St. John Properties, Inc. Leased More Than 100,000 Square Feet of Space at Baltimore Crossroads in Fourth Quarter 2014
BALTIMORE (February 2, 2015) – St. John Properties, Inc. leased more than 100,000 square feet of commercial office and R&D/flex office space to eight separate tenants in fourth quarter 2014 at Baltimore Crossroads, a master-planned 1,200 acre mixed-use business community located in the White Marsh section of Baltimore County, Maryland. In response to this strong leasing activity and continued high occupancy throughout the park, St. John Properties has announced plans to initiate construction on three new speculative buildings, totaling approximately 90,000 square feet of space in first quarter 2015 at Baltimore Crossroads.
The new leases were concluded with Pro Transport, Social Solutions, All-Pro Team Sports, Sovereign, Evolution Physiotherapy, Performance Contracting, Skillforce, The Mallow Bar and 24-Hour Dependable Medical Supplies.
Baltimore Crossroads, located along MD Route 43 near Interstate 95, is configured to support more than five million square feet of commercial office, R&D/flex office, warehouse, industrial and retail space, as well as a hotel and a residential component. St. John Properties has constructed 17 buildings, totaling more than 500,000 square feet of commercial office, R&D/flex office and retail space at the business community since 2008. More than 2,500 people currently live and work at Baltimore Crossroads.
St. John Properties and Somerset Construction, in conjunction with Elm Street Development Company, have carved out a 200-acre section of the business community to create Greenleigh at Crossroads, a “new urbanism-style” development with a compact, pedestrian-friendly design with approximately 2,500 new residential units including single-family homes, townhomes, condominiums and apartments; a multi-story office component featuring 500,000 square feet of space; and 100,000 square feet of retail space. The first phase of this section, which utilizes a classic town center design to enable use by pedestrians instead of cars, is expected to break ground in late 2015 or early 2016.
The new speculative buildings St. John Properties plans to build are 11560 Crossroads Circle, a 23,630 square foot single-story office building; 11570 Crossroads Circle, a 25,600 square foot single-story office building; and 11675 Crossroads Circle, a 40,080 square foot R&D/flex office building. All three will be constructed to achieve LEED-Gold certification.
“Leasing activity was extremely brisk at Baltimore Crossroads last year, as corporate end-users continue to see this as the premiere mixed-use community in Baltimore County,” said Richard Williamson, Senior Vice President of Leasing for St. John Properties. “Reflecting the fourth quarter leasing success, we are seeing demand from new companies specifying space at Baltimore Crossroads and existing clients expanding their space requirements. We are proceeding with our first quarter development plans to stay ahead of the demand that we expect the addition of Greenleigh will draw.”
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.