Washington DC + Baltimore + Office | January 20, 2023

St. John Properties, Inc. has acquired Aviation Business Park, a three-building portfolio in Glen Burnie, MD, for $13.3 million

St. John Properties Buys Three-Building Aviation Business Park Next to BWI for $13M

Baltimore, MD-based St. John Properties, Inc. has acquired Aviation Business Park, a three-building portfolio in Glen Burnie, MD. The property is comprised of over 120,000 square feet of commercial office space located adjacent to Baltimore/Washington International Thurgood Marshall Airport

Graham Savage, Jonathan Carpenter and Dawes Milchling of Cushman & Wakefield, which reports a sale price of $13.3 million for the property, represented the seller, Miami-FL based Adler Real Estate Partners. Commercial real estate firm St. John Properties was self-represented.

The portfolio consists of a single-story building comprising 54,310 square feet; a 35,361-square foot single-story building, a single-story building totaling 30,613 square feet.

St. John Properties plans to reposition one of the buildings at Aviation Business Park from commercial office to flex/R&D.

“Our decision to convert a portion to flex/R&D space reflects the high demand for this asset class that persists in the marketplace,” said Sean Doordan, St. John Properties’ EVP of leasing and acquisitions. “As demonstrated by our recent acquisition activity, we intend to remain extremely aggressive throughout all market conditions for the search of value-add and stabilized assets that complement our existing portfolio.”

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St. John Properties’ Doordan

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.