This business lunch seated more than 200.
Commercial real estate brokers from throughout the Baltimore-Washington region gathered Wednesday at First Industrial Realty Trust?s new, 300,000-square-foot industrial building along Route 43 in Baltimore County. They were there to network, talk possible deals and learn more about Baltimore Crossroads@95, a 1,000-acre business community being built along the Route 43 extension by a four-firm development team.
“This seems to be broker-event season,” said Neil Greenberg, chief operating officer of Bethesda-based Somerset Construction Co., the community?s master developer.
When the park is completed, it will contain more than 5 million square feet of commercial office, flex/research and development, and warehouse and industrial space, along with 450,000 square feet of retail space.
The park could bring an estimated 10,000 new jobs to the area and generate $460 million in new capital investment in eastern Baltimore County.
“Everything about Baltimore Crossroads@95 is big,” said Gerry Wit, senior vice president of marketing for Baltimore-based St. John Properties, responsible for the park?s office, flex/R&D and retail components.
Wit said tenants such as Wawa, Bradford Bank, Subway and Royal Farms have signed on to take space in the park. St. John is working to bring several other restaurants and retailers to the area.
Mark McConnell, First Industrial Realty Trust?s Baltimore-Washington regional director, said the industrial building, where the luncheon was held, was ready for lease.
“We?re missing one thing ? one or more tenants,” McConnell said.
McConnell said Baltimore Crossroads would be a success because it offers all building types for all tenant types.
“We are part of a larger community here,” McConnell said. “We all seem to fill a particular niche in the industry.”
Glen Burnie-based Chesapeake Real Estate Group has built three office/warehouse buildings between the St. John and First Industrial projects along Route 43. BGE Home relocated its headquarters to the business park in March.
“It?s as good-looking a business park that exists anywhere in the state,” Jim Lighthizer, principal of Chesapeake, said to the brokers. “We?re looking forward to seeing your prospects.”
