Maryland Nonprofit Grows HQ Space with St. John Properties
By Greg Cornfield November 13, 2024 5:10 pm
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A Maryland-based nonprofit organization that provides residential and personal support for people with intellectual and developmental disabilities is moving its corporate headquarters into a larger space with prominent landlord St. John Properties.
Richcroft signed for 25,500 square feet at 53 Loveton Circle at the 15-acre Loveton Business Park in Sparks, Md., and plans to move in the first quarter of 2025. The organization is expanding from its 19,000-square-foot spot less than three miles south at 11350 McCormick Road in Hunt Valley.
The nonprofit employs more than 530 people and expects to significantly expand its workforce over the next several years, according to an announcement. KLNB’s Keith Barnett represented the tenant while St. John Properties’ Stephanie Caronna represented the landlord.
“This real estate decision was driven by our organization’s continued acceleration, the expected addition of new business lines, and the desire to place our entire corporate team on the same floor to improve synergies,” Kevin Drumheller, Richcroft’s CEO, said in a statement. “It was extremely important for us to remain in the greater Hunt Valley area out of respect to our loyal employees and familiarity with the region.”
Loveton Business Park features 130,000 square feet of flex/R&D and office space just off York Road. Richcroft is moving into a two-story building that spans about 51,000 square feet.
The group said it operates 55 homes throughout Baltimore, Carroll, Harford and Howard counties, where it provides services including transportation, health care, social programs, financial support and nutrition support.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
