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St. John Pivots from Apartments to Flex/Industrial for Ashburn Parcel
St. John Properties has pivoted from rezoning a 16-acre parcel in Ashburn, VA for multifamily to building new flex/industrial space, reported the Washington Business Journal. The Baltimore-based developer cited a healthy demand for flex product in Loudoun County.
Instead of 475 housing units as St. John planned late last year, on the drawing board are 200,000 square feet of new flex buildings, further expanding the already growing Ashburn Crossing business park next door, which St. John also owns. The two buildings of equal size will add to the nine Class A buildings already there or under construction along nearby Loudoun County Parkway.
They’ll be “built on a speculative basis for a wide variety of tenants,” Matt Holbrook, a St. John regional partner, told the Business Journal. He expects his firm to receive site plan approval from the county government in October, “with construction starting shortly thereafter.”
Pictured: Ashburn Crossing, adjacent to the new site.
