ST. JOHN PROPERTIES ACQUIRES TWO ANNAPOLIS BUILDINGS TOTALING MORE THAN 100,000 SQUARE FEET

St. John Properties has expanded its presence in Annapolis with the acquisition of two commercial buildings totaling more than 100,000 square feet near Bestgate Road and Annapolis Mall.

The company announced Oct. 13 that it acquired the property formerly known as Annapolis Commerce Park East, which has been renamed Bestgate Commerce Park. The acquisition includes 2001-2003 Commerce Park Drive, a 52,127-square-foot building, and 2009-2011 Commerce Park Drive, a 51,225-square-foot building. Together, the buildings contain 103,352 square feet of flex and research-and-development space.

According to St. John Properties, the two buildings were collectively 75 percent leased to three tenants when the acquisition was announced. The purchase expands the company’s Anne Arundel County portfolio to approximately 6 million square feet of office, flex/office and retail space across 22 business communities.

Bestgate Commerce Park is located off Bestgate Road, directly across from Annapolis Mall and near the interchange of U.S. Route 50 and Maryland Route 450. The property is adjacent to St. John Properties’ 888 Bestgate Road and about one-half mile from 810 Bestgate Road, which the company also owns and manages.

St. John Properties said it plans to make significant improvements throughout the newly acquired property, including exterior upgrades, new signage and enhanced landscaping designed to create a more modern environment for tenants and visitors.

“These buildings fit well within our existing portfolio and complement our presence in Annapolis,” Sean Doordan, senior executive vice president of acquisitions and growth for St. John Properties, said in the company’s announcement. Mr. Doordan said the proximity to the company’s other Annapolis properties creates opportunities to continue building its presence in the area.

Each building is two stories and includes separate single-story, direct-entry configurations in the front and rear, along with multiple loading dock doors and loading capabilities. An adjacent parking area accommodates 256 vehicles, according to St. John Properties.

MacKenzie Commercial Real Estate Services, which has marketed the property under its former Annapolis Commerce Park East name, describes it as offering what the company calls the largest and most accessible block of quality office and flex space in Annapolis. According to MacKenzie’s property listing, 31,144 square feet is available for lease, with extensive window exposure around the buildings. The company also highlights the property’s direct access to Westfield Annapolis Mall, as well as nearby shopping centers and restaurants, and describes the site as an option for a variety of potential users.

MacKenzie’s listing identifies available space ranging from approximately 2,994 to 31,144 square feet, clear ceiling heights of 16 to 18 feet, and W1 Industrial Park District zoning. The property is also accessible from Route 50, Maryland Route 665 and Interstate 97.

St. John Properties represented itself in the transaction through Mr. Doordan and Assistant Vice President of Acquisitions Alex Lyons. JLL representatives Dave Baker, Kevin Byrd, TJ Hamilton and Andrew Weir marketed the property and handled negotiations on behalf of the selling entity.