St. John Properties said Monday it started construction of three new buildings in the Baltimore Crossroads business park.
The buildings represent about 90,000 square feet in Baltimore Crossroads development, a development with more than 1,000 acres of warehouses, homes and shops in White Marsh. They are being built at a cost of about $6.5 million on a speculative basis, without a confirmed tenant — typically a signal of confidence in the market.
St. John Properties has built 17 buildings at Baltimore Crossroads since 2008. In the last three months of 2014, the Baltimore-area firm leased more than 100,000 square feet of commercial office and flex space to eight tenants there.
"Continued leasing momentum at Baltimore Crossroads provides us with tremendous confidence to pro-actively increase the product inventory at this business community," said Richard Williamson, St. John Properties' senior vice president of leasing, in a statement.