New Kid On The Block: Maple Lawn
Maple Lawn, a large mixed-use project that includes 1.4M SF of commercial space, has attracted a wide mix of businesses.
St. John Properties SVP Rick Williamson says when a Class-A office building goes up, the firm factors in about 18 months to lease up. The last two office buildings at Maple Lawn were leased up in six months. A sixth building, 8115 Maple Lawn, opened this month with more than 50% of its space committed.
One of the biggest leases was signed by Cisco. The $49.2B tech firm will take 100k SF by Q2 2016 once its interior construction is completed. IronNet Cybersecurity, a tech firm founded by retired Gen. Keith Alexander, is also based in Maple Lawn, along with other tech players like Raytheon. Law firm Offit Kurman and New Day Financial also found a home in Maple Lawn.
The office and R&D/flex space has done incredibly well, says Rick. The five R&D/flex buildings are 100% leased with another mix of firms. They include Elta Systems, an Israeli defense electronics manufacturer; Benco, which sells dental supplies; and M3D, a 3D printer manufacturer.