A commercial real estate development and management company with a portfolio of more than $5 billion has added a Dallas regional office.
St. John Properties, Inc., founded in Baltimore in 1971 by Edward St. John, is a developer of Class A commercial office, retail and flex and research and development buildings with a focus on Colin and Colin. The aim is to obtain land ownership. Denton County.
North Texas' continued population growth, industry diversity and talented workforce contributed to St. John's' decision to expand into the region, said Rafael Alterman, who was selected to lead the local office. This was an important point in making a decision.
“Building on our continued success in other markets across the country, the unique characteristics of our signature flex products meet a variety of end-user real estate requirements and outperform products currently available. I am confident that we will,” Alterman said. “Our first step was to identify and acquire suitable land holdings for our distinctive flex/R&D, office and retail buildings, as well as to engage key intermediaries to support our long-term development plans. It’s about establishing relationships with vendors and business professionals.”
The company's signature product, Flex/R&D, is defined as a one-story building divided into part-office and part-industrial bays. Tenants in this space could include companies in spaces such as technology, light industry, and distribution.
Alterman said the company is open to forming a joint venture partnership with a local development group as it aims to begin operations in the region in earnest.
St. John, which operates 15 offices in 11 states, has broken ground on nearly 1 million square feet of speculative commercial space across the United States over the past four years.
The Dallas office will be St. John's' second in the state. The company previously opened a hub in Austin in 2022 and is developing three sites totaling more than 600,000 square feet in the Austin area.
This includes a 50-acre parcel in Leander earmarked for an eight-building community with flex/R&D, retail space and pad sites.
There is also a 35-acre business community near the Georgetown-Round Rock border, as well as office buildings underway within the Northline mixed-use project in Leander.
Lawrence Meikrantz, St. John's president and CEO, said the success of the Austin regional office was a key factor in the company's expansion into Dallas.
“While we view Dallas as a distinct submarket with unique characteristics, we believe we can leverage certain operational efficiencies by opening a second Texas regional office,” Meikrantz said. Ta.
St. John works out of Legacy Tower, 7250 Dallas Parkway in Plano.
