51-year-old Baltimore-based company with more than 22 million square feet of space attracted to growing tech and life sciences industries
St. John Properties, Inc., a national commercial real estate development and management group active in nine states has entered the Texas market with the recent opening of a new regional office in Austin. Over the past five decades, the Baltimore-based company has developed more than 22 million square feet of commercial real estate among various asset classes and intends to pursue opportunities for the execution of its vertically-integrated development strategy in the region. St. John Properties lists assets of more than $4.5 billion and, last year, revealed its intentions to nearly double the size of its portfolio to 40 million square feet of space within 15 years. Brooke Harlander, Regional Partner, will direct all development activities of the new Texas office.
The company is currently investigating sites throughout the greater Austin metropolitan area to develop ground-up Class “A” commercial office, retail, warehouse/logistics and flex/R&D (research & development) space. A specialized configuration of this latter asset class became a trademark of company founder Edward St. John in the early 1970s in response to the needs of a wide range of end-users. It consists of a “part office/part industrial” single-story building separated into bays which can be fully customizable based on the end-users needs. St. John Properties flex/R&D product is home to a wide array of end-users from high-tech companies with majority office need, to light manufacturing and distribution centers and everything in between.
“Austin has been on our radar for a long time based on its rapidly-growing population, steady influx of new jobs, as well as the momentum of the tech and life sciences industries,” stated Lawrence Maykrantz, President and CEO of St. John Properties. “The region’s incredible culture and booming real estate market have also played an enormous part in our targeted effort to expand into the state of Texas.”
St. John Properties is differentiated among its peers by its philosophy of developing real estate products almost exclusively on a speculative basis. This enables the firm to respond instantly to the emerging requirements of new and existing clients, as product is always ready for immediate move-in. The company has speculatively broken ground on nearly one million square feet of space nationwide throughout each of that last four consecutive years.
The company has also emerged as a leader in the sustainable building movement, with a mission to deliver buildings that produce more energy than they use, and to further refine processes that improve indoor air quality while boosting employee wellness and productivity. “St. John Properties considers the conservation of energy and natural resources, along with the ongoing need to develop and innovate environmentally-friendly buildings, to be a priority in attracting new tenants,” said Maykrantz. The U.S. Green Building Council has ranked St. John Properties among the top 5 developers of LEED certified buildings nationwide.
“We are ready and eager to meet and develop key relationships with individuals and companies that have tangible development opportunities,” stated Brooke Harlander.“Our long-term ownership and comprehensive approach, which includes the leasing and management of properties,will remain true for the greater Austin area. We are here to be great partners to those that we will have the opportunity to serve, from future clients, to the communities in which we build.”
Founded in 1971, St. John Properties, Inc. is one of the nation’s largest and most successful privately held commercial real estate firms. The company is distinguished by its commitment to customer service, achievements in green building, and top-rated workplace culture. Throughout St. John Properties’ 51-year history, the company has developed more than 22 million square feet of flex/R&D, office, retail, warehouse space and has investments in over 2,600 apartments. The company proudly serves more than 2,500 clients in Colorado, Louisiana, Maryland, Nevada, Pennsylvania, Texas, Virginia, Utah, and Wisconsin. For more information about the company, visit www.sjpi.com.
