St. John Properties Buys Former Environmental Elements Building, Plans $8M Renovation
- Mar 16, 2012
St. John Properties Inc. has purchased a highly visible office building located at 3700 Koppers St. in Southwest Baltimore. Although the new owner did not disclose any sales price, it plans to invest $8 million to renovate the building as part of a re-branding effort. The building served as the corporate headquarters for the Environmental Elements Corporation for more than 30 years.
Built in 1972, 3700 Koppers St. is a five-story, 100,000-square-foot office building featuring a brick masonry exterior with blue ribbon glass windows and expansive floor plates offering 20,000 square feet of contiguous space. Its location off Interstate 95 at the Caton Avenue exit in close proximity to both Interstate 695 and MD Route 295 makes it very visible to visitors and commuters as they cross into the city. The new owner is offering signage opportunities for the building.
St. John Properties has re-branded the building as the ”Baltimore Gateway”, taking advantage of its strategic positioning just off Interstate 95 and inside the Beltway at Baltimore’s ”gates”. The company will also completely renovate the structure, turning it into a Class A facility ideal for business.
Renovations will include energy-efficient low-E windows, three new high-speed elevator systems, an all-new HVAC system, a modern lobby, new bathrooms with ADA-compliant fixtures, a covered entranceway for drop-offs and pick-ups, new exterior landscaping, sprinkler systems and lighting. The entire $8 million renovation is expected to be completed by mid-year.
Baltimore Gateway is located within 10 miles of 18 different hospitals. St. John is looking for health care tenants as there no restrictions on the use of medical equipment within the building. Baltimore Gateway is also located in a City Enterprise Zone, making tax credits available to tenants.
St. John Properties Inc. was founded in 1971 as MIE Properties. It is one of the Mid-Atlantic region’s largest and most successful privately held commercial real estate firms. The company owns and has developed more than 15 million square feet of office, retail, warehouse, research and development space in Maryland, Colorado, Louisiana, Virginia and Wisconsin.
Photo courtesy of http://www.sjpi.com.