St. John Properties, a Baltimore-based warehouse, office and retail-space developer, has completed construction of the last two office buildings at Cromwell Business Park in Anne Arundel.
Cromwell Business Park has 19 buildings totaling 725,000 square feet of space on 100 acres of land, said Jerry Wit, senior vice president of marketing for St. John Properties. The total cost of the business park has been about $75 million.
“We?ve been working on this project for about seven years, averaging about 100,000 square feet per year,” Wit said.
St. John Properties completed construction of two research and development/office buildings at the business park. The buildings are 796 Cromwell Drive ? a 59,500-square-foot project ? and 798 Cromwell Drive ? offering 56,600 square feet of space.
The business park has 15 research and development buildings, three office buildings and a retail building.
St. John Properties is working to fill the two new buildings, Wit said. When the buildings are occupied, about 150 tenants with about 1,500 employees will occupy Cromwell Business Park. St. John Properties estimates those 1,500 employees will earn about $50 million a year.
The company pays about $700,000 in real estate taxes to Anne Arundel County each year. The park is located off Interstate 97 at Dorsey Road, about two miles from Baltimore/Washington International Thurgood Marshall Airport and eight miles from downtown Baltimore.
“BWI is the perfect storm ofeconomic development,” Wit said.
“It?s a prime location for businesses for transportation,” said Sarah Boone, vice president of real estate development for Anne Arundel Economic Development Corp. “You?ve got the airport and easy access to I-97 and Route 100.”
The BWI area, located in northwest Anne Arundel, supports 50 percent of all jobs and 57 percent of all companies in Anne Arundel, according to the county Web site.
“We?re happy to see that the commercial and industrial component around the airport continues to prosper and grow,” Anne Arundel County spokesman Erik Robey said.
