St. John Properties has shifted its focus from rezoning a 16-acre parcel in Ashburn, VA for multifamily to constructing new flex/industrial space, according to the Washington Business Journal . Citing healthy demand for flex product in Loudoun County, the Baltimore-based developer opted out of 475 housing units as previously planned late last year and is now planning 200,000 square feet of new flex buildings. The two buildings will be added to the nine Class A structures already present or under construction along nearby Loudoun County Parkway.
Matt Holbrook – St. John regional partner – told the Business Journal that these buildings will be “built on a speculative basis for a wide variety of tenants” and expects site plan approval from county government by October with construction starting shortly thereafter. Adjacent to this newly developed area lies Ashburn Crossing business park which is also owned by St. John Properties (pictured).
