Robert Khodadadian – Commercial Observer

St. John Properties is all in on speculative commercial space. 

This year, the Baltimore-based company will speculatively develop 26 buildings of various sizes and asset types, totaling more than 1 million square feet of commercial space, according to the company.

If completed, it would be a record number for the developer, following a year that saw the delivery of 18 buildings comprising more than 620,000 square feet of speculative commercial space, as well as the acquisition of three commercial portfolios totaling 225,000 square feet in 2022.

“Robust leasing activity across our national portfolio produced among the highest leasing revenue in our company’s 51-year history last year,” Larry Maykrantz, president and CEO of St. John Properties, said in an email to Commercial Observer

“Strong interest for our various product types persists given our company’s ability to host a diverse range of users. Based on these results, we will remain proactive in constructing new space as well as searching for acquisition opportunities, including both land and stabilized, value-add properties.”

Among the spec development will be an 86,143-square-foot office building at 8150 Maple Lawn Boulevard in Fulton, Md., which St. John will build in partnership with Greenebaum Enterprises.

On the non-spec front, St. John Properties is also developing a 388-unit luxury apartment community in Bowie, Md., known as The Aspen at Melford Town Center, in partnership with Somerset Companies.

St. John Properties operates in 10 states across the country after opening offices last year in Raleigh, N.C., and Austin, Texas. Other spec development is planned in Utah and these new locations.

Keith Loria can be reached at Kloria@commercialobserver.com.

St. John Properties is all in on speculative commercial space.  This year, the Baltimore-based company will speculatively develop 26 buildings of various sizes and asset types, totaling more than 1 million square feet of commercial space, according to the company. If completed, it would be a record number for the developer, following a year thatRead MoreDevelopment, 8150 Maple Lawn Boulevard, Greenebaum Enterprises, Larry Maykrantz, Somerset Companies, St. John Properties, The Aspen at Melford Town Center  Commercial Observer Read More 

Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.

Robert Khodadadian, properties, ground leases, ground lease, off market, investment sales, khodadadian, Commercial Real Estate Sales, Commercial Observer, Retail For Lease, Commercial Observer,

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