St. John Properties Signed Nearly 300 Leases in Maryland for More than 1.6 Million Square Feet of Space in 2018
Commercial real estate development and management company also completes nearly 200 lease renewals totaling more than 1.6 million square feet of commercial office, flex/R&D, retail and warehouse space in local marketplace
BALTIMORE, MD (February 6, 2019) – St. John Properties, Inc., the Baltimore-based commercial real estate development, management and investment company, revealed its 2018 transactions and accomplishments, highlighted by the signing of nearly 300 leases, comprising more than 1.6 million square feet of commercial office, flex/R&D, retail and warehouse space in the central Maryland and Northern Virginia region. Additionally, the firm completed nearly 200 lease renewals totaling more than 1.6 million square feet of space in the local marketplace. Leasing data for the St. John Properties portfolio in Colorado, Louisiana, Nevada, Pennsylania, Utah and Wisconsin are not reflected in these figures.
“By every metric, 2018 was among the most successful in the nearly 50-year history of the company, as our team exceeded every leasing, acquisition, sales, and construction goal to generate tremendous momentum leading in to 2019,” stated Richard Williamson, Senior Vice President of Leasing and Marketing for St. John Properties. “We remain among the few commercial real estate companies in the Maryland area with the confidence to consistently construct speculative projects, based on our ability to anticipate marketplace trends and deliver innovative real estate products. By continually listening to input from our more than 2,100 clients, our retention rate also exceeds industry standards.”
Last year, St. John Properties completed or began development on 25 new buildings comprising nearly 850,000 square feet of space. This includes current construction on 15 new buildings comprising 465,000 square feet of speculative Class “A” single-story office and flex/R&D space throughout Anne Arundel, Baltimore, Howard, and Prince George’s Counties with deliveries scheduled for this spring and summer.
NAIOP, the Commercial Real Estate Development Association, honored St. John Properties as the national 2018 Developer of the Year — the association’s highest honor — last year. St. John Properties became the first company in the NAIOP Maryland chapter to receive this award since its inception, and only the second Maryland-headquartered firm to be recognized.
Additional 2018 highlights include:
- Signing Verizon Wireless to a 61,000 square foot lease within 10170 Junction Drive, a four-story, 100,000 square foot class ‘A’ office building located at Annapolis Junction Town Center in Howard County, Maryland.
- Completing a 75,000 square foot full-building lease with Stanley Black & Decker at Greenleigh at Crossroad in Baltimore County, Maryland, a transaction that resulted in the move of 400 employees to the mixed-use community.
- In a joint venture partnership with Reliable Contracting Company, breaking ground on Waugh Chapel Business Park, a seven-building mixed-use business community in Anne Arundel County, Maryland designed to support 225,000 square feet of flex/R&D space.
- Breaking ground on three buildings within Arcadia Business Park in Frederick County, Maryland totaling nearly 200,000 square feet of flex/R&D and bulk/warehouse space.
- Breaking ground on four buildings within Leesburg Tech Park in Loudoun County, Virginia totaling nearly 160,000 square feet of flex/R&D space.
- Earning LEED Gold certification for four buildings from the United States Green Building Council (USGBC) for satisfying energy and environment design requirements in the development and construction of commercial office buildings. The entire St. John Properties portfolio now features 47 LEED-certified buildings totaling nearly 2.6 million square feet of space.
St. John Properties, Inc., founded in 1971, owns and has developed more than 19 million square feet of Flex/R&D, Office, Retail and Warehouse space in Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Virginia, Utah and Wisconsin. The company was named “2018 Developer of the Year” for the Nation by NAIOP, the Commercial Real Estate Development Association. For more information about the company, visit www.sjpi.com.