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Aviation Business Park in Anne Arundel sold for $13.3M

The portfolio assets are located adjacent to St. John Properties’ Cromwell Business Park, a 165-acre mixed-use business community totaling nearly 1 million square feet of flex/R&D, commercial office and retail space. (Submitted photo)

Aviation Business Park, a three-building portfolio in Anne Arundel County composed of more than 120,000 square feet of commercial office space, was purchased by Baltimore-based St. John Properties for $13.3 million, the company announced Wednesday.

The seller, Miami-based Adler Real Estate Partners, was represented by Graham Savage, Jonathan Carpenter and Dawes Milchling of Cushman & Wakefield. St. John Properties was self-represented. The assets were about 63% leased at the time of the transaction.

The portfolio consists of 6956 Aviation Blvd., a single-story building composed of 54,310 square feet of space; 6958 Aviation Blvd., a 35,361-square-foot single-story building, and 6960 Aviation Blvd., a single-story building totaling 30,613 square feet of space. The assets are located adjacent to St. John Properties’ Cromwell Business Park, a 165-acre mixed-use business community totaling nearly 1 million square feet of flex/R&D, commercial office and retail space.

St. John Properties plans to reposition one of the buildings from commercial office to flex/R&D by installing drive-in doors and modifying a portion of the shared parking field for more loading capability. In total, St. John Properties has budgeted about $1.5 million in capital expenditures for this project.

This transaction represents the second significant acquisition completed by St. John Properties within the past several months, following the purchase of Triangle Business Park. Now branded as part of St. John Properties’ Baltimore Gateway, Triangle Business Park is a 95% occupied, four-building portfolio comprising of approximately 74,000 square feet of industrial and flex/R&D space this past November. Two of the buildings are located in Baltimore City, and two are situated in Baltimore County.


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