Pepco Signs Lease in 24-Acre Business Complex Near Baltimore
Pepco Government Services has signed a 6,000-square-foot lease at Waugh Chapel Business Park, a three-building, 24-acre, mixed-use business complex in Gambrills, Md., currently under development by a joint venture between St. John Properties and Reliable Contracting Company.
At final build-out, the development will support more than 226,000 square feet of flex/R&D space. Pepco will be housed in a 33,120-square-foot, single-story flex/R&D building.
“Pepco Government Services is a division of Exelon Generation Company LLC, a Fortune 100 company that serves as the primary energy supplier in the greater Maryland region,” Sean Doordan, St. John Properties’ senior vice president of leasing and acquisitions, told Commercial Observer. “The addition of this high-profile group to the business community jumpstarts our leasing activity at Waugh Chapel Business Park.”
Located at 980-987 Waugh Chapel Way, Waugh Chapel Business Park is located in a mixed-use, amenity-rich, walkable community with proximity to Annapolis, Baltimore, Ft. Meade and Washington, D.C., via I-97 and U.S. Route 50.
“Anne Arundel County remains an extremely attractive place to develop and lease commercial space, and there was limited, quality flex/R&D product along the Route 3 corridor,” Doordan said. “With the addition of these new buildings, the area is becoming a true mixed-use destination.”
Each building features 18-foot ceiling heights, dock or drive-in loading doors, and is surrounded by a free surface parking lot.
Pepco also leases space with St. John Properties at Westview Business Park in Frederick, Md.
Bill Jautze, leasing representative for St. John Properties, represented the landlord in the deal. Adam Brecher, managing director at Savills, represented the tenant.
Construction began early last year and is expected to be completed in 2021.