St. John Properties, Inc. and Greenebaum Enterprises have formed a joint venture partnership to acquire a 12.5-acre site in Howard County, Maryland’s Montpelier Research Park. The property includes a two-story office building spanning 32,488 square feet that is currently available for lease.
The partnership plans to construct two single-story flex/R&D buildings on the site, totaling approximately 70,000 square feet with an expected completion date of 2026. The seller was represented by KLNB’s Abby Glassberg and Don Schline while the joint venture handled their own representation during the transaction.
According to Principal Abby Glassberg of KLNB, there is limited availability of properly-zoned and strategically-located land in the Baltimore-Washington D.C corridor that is also ready for development opportunities; therefore generating high interest in this particular parcel.
Montpelier Research Park boasts an ideal location near MD Route 29 and Johns Hopkins Road as well as proximity to Fulton’s Maple Lawn mixed-use community and JHU Applied Physics Laboratory campus.
