St. John Properties Inc. plans to start building 90,000 square feet of speculative commercial space at the company's master-planned Baltimore Crossroads business park in White Marsh this year.
The decision to go spec is being driven by a spurt of leasing activity in the last quarter of 2014. St. John leased more than 100,000 square feet of research and development and flex space in the park, including a 51,000-square-foot deal with Pro Transport Logistics.
"Leasing activity was extremely brisk at Baltimore Crossroads last year, as corporate end-users continue to see this as the premier mixed-use community in Baltimore County," Richard Williamson, leader of St. John's leasing division, said in a statement. "We are seeing demand from new companies specifying space at Baltimore Crossroads and existing clients expanding their space requirements."
One of the major components of the 1,200-acre Baltimore Crossroads is a 200-acre tract set aside for a residential development known as Greenleigh. Although the housing portion of the project is not underway, Williamson said that when it is developed it should create additional demand for commercial space to both support the residential portion with retail and provide more office and flex space.
"We are proceeding with our first quarter development plans to stay ahead of the demand that we expect the addition of Greenleigh will draw," Williamson said.
Greenleigh will include 2,500 new residential units with a mix of single-family homes, townhomes, condominiums, and apartments. Also planned is a multi-story office building with 500,000 square feet of space and 100,000 square feet of retail space.
The development is closely modeled to resemble Maple Lawn in Howard County.
So far, St. John has completed about 500,000 square feet of office, flex, and retail space at Baltimore Crossroads, spanning 17 buildings. The new buildings will include a 23,630-square-foot single-story office building; a 25,160 square foot single-story office building; and a 40,000-square-foot flex building.