Local Developer Snaps Up 2 Annapolis Commercial Buildings

ANNAPOLIS, MD — A local developer recently reached a new milestone after acquiring two commercial properties that boost its Anne Arundel County portfolio.

St. John Properties said Tuesday that the developer scooped up two buildings in the rebranded Bestgate Commerce Park in Annapolis.

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The two-story buildings are located at 2001-2003 Commerce Park Drive and 2009-2011 Commerce Park Drive. Both sites make up more than 103,000 square feet of space.

While the acquisition price was not disclosed, officials did say the buildings are 75% leased to three tenants.

The newly closed deal boosts the portfolio of St. John Properties to over 6 million square feet of office, flex/office and retail space.

"These buildings fit well within our existing portfolio and complement our presence in Annapolis," Sean
Doordan, who serves as the developer's senior executive vice president of acquisitions and growth, said in a statement.

"The proximity to our other Annapolis properties creates natural synergies, and gives us an opportunity to build on our presence in the area while investing in the property and bringing it up to St. John Properties' standards."

Both buildings are expected to undergo renovations in the coming months to meet the St. John Properties standard.