Construction Begins On 4-Building Spec Business Park In Leesburg
St. John Properties is underway with a four-building flex-office project it is building on spec in Leesburg.
The Baltimore-based developer broke ground earlier this month on the 160K SF project on a 17-acre site at the intersection of Sycolin Road and Miller Drive.
The project, dubbed Leesburg Tech Park, will feature two one-story buildings each totaling 41K SF, plus a 27K SF building and a 51K SF building. The flex-office buildings, designed for research and development uses, will have 16-foot ceiling heights, dock and drive-in loading and free surface parking. The developer expects to deliver the speculative buildings in summer 2019.
SJP acquired the site in late 2016. The property sits next to the Leesburg Executive Airport and about 13 miles from Dulles International Airport.
"St. John Properties is extremely confident in our investment in the Town of Leesburg because we recognize the tremendous fundamentals and economic drivers that remain unique to this region," SJP Regional Partner Matt Holbrook said in a release. "This includes steady demand in the marketplace, a supply constraint for new high-quality Flex/R&D space and a rapidly-expanding residential population that continues to stimulate new businesses."
The developer broke ground on a similar flex-office park project in Anne Arundel County this month. The company has developed over 19M SF of real estate in eight states since its 1971 founding.
