New Supreme Lending Lease Ignites Reisterstown Crossing’s Final Phase
Supreme Lending, a Dallas-based mortgage company, has signed a 15,492-square-foot lease with St. John Properties for a new branch office at Reisterstown Crossing, an office campus in Reisterstown, Md.
The mortgage company’s office will be located at 118 Westminster Pike, a two-story building comprising 30,600 square feet of Class A office space. The company will use the new space to consolidate its local sales and production offices, currently situated in the Maryland cities of Owings Mills and Westminster.
“Employees are the lifeblood of our organization. So, prior to beginning our search, we mapped out the home address of each of our employees working in both offices to determine the most central location,” said Glenn Belt, a regional manager at The Meridian Team of Supreme Lending. “The area near the top of Interstate 795 emerged as the perfect location and that happens to be exactly where Reisterstown Crossing is situated. Things could not have worked out more perfectly.”
St. John Properties broke ground on the first of four buildings at the 10-acre Reisterstown Crossing in late 2013, with three of the buildings completed. That includes 114 and 116 Westminster Pike, comprising 12,675 square feet of retail and 14,280 square feet of single-story office space, respectively.
As a result of this recent leasing activity, the company intends to complete development of Reisterstown Crossing.
“With the addition of Supreme Lending, 118 Westminster Pike is now over 70 percent leased, and is the catalyst to initiate speculative development on a new two-story, 30,600-square-foot commercial office building at 120 Westminster Pike,” Sean Doordan, executive vice president of leasing and acquisitions for St. John Properties, told Commercial Observer. “We consistently track leasing activity at business communities throughout our corporate portfolio, with the intention to immediately move to the next development phase when market conditions allow.”
The new LEED-designed building is expected to be delivered in 2022. It will be at the intersection of Westminster Pike and Butler Road, directly adjacent to Interstate 795.
Michael Sacks of St. John Properties represented the landlord in the deal, while Cushman & Wakefield’s Lizzy Sweeney represented the tenant.
Keith Loria can be reached at email@example.com.