We look forward to working closely with Mike and Whit to re-lease Highview II and offer build-to-suit opportunities for the three additional buildings that will complete the campus.
Philadelphia, Pa. (Vocus) September 24, 2009
BPG Properties, Ltd. (BPG), one of the nation's leading private equity fund managers, announced today that it has appointed Michael Morrone and Whitney Hunter of Jones Lang LaSalle as exclusive listing agents for Highview at Providence Corporate Center, a master planned corporate campus, located along the Route 422 expressway at the Route 29 interchange in Collegeville, Pennsylvania. The center developed by BPG in 2002 as a 100% build-to-suit for Wyeth is comprised of one three-story and one four-story Class A office building, both totaling 183,000 square feet, and three additional fully improved office building sites with a total approved building area of 300,000 square feet. Wyeth has exercised a termination option for Highview II, which enables that building to be re-leased as early as the first quarter 2010.
"We are pleased with the professionalism and experience that the Jones Lang LaSalle team possesses," commented Neil F. Gallagher, vice president and director of leasing for BPG. "We look forward to working closely with Mike and Whit to re-lease Highview II and offer build-to-suit opportunities for the three additional buildings that will complete the campus."
Presently, the firm is marketing Highview II, a four-story, 104,799 square foot Class A office building, for lease. Highview II has a central lobby core with full height glass overlooking a landscaped courtyard which separates it from Highview I, a three-story, 78,564 square foot Class A office building. The interior of Highview II offers above standard finishes in the common areas, a full service catering kitchen with abundant seating, conference and break rooms throughout and energy efficient HVAC and a light harvesting system.
Highview at Providence Corporate Center is located off of the Route 422 expressway at its intersection with Route 29. It is less than ½ mile from a 300,000 square foot retail town center development that is opening in October 2009. The surrounding area has experienced population and business growth within the past ten years and offers an excellent labor pool and easy access to the region's most traveled highways and commercial centers.
Currently, at the interchange, more than four million square feet of office and lab space is occupied by such leading companies as Wyeth, GlaxoSmithKline and Quest Diagnostics.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 billion square feet worldwide. LaSalle Investment Management, the company's investment management business, is one of the world's largest and most diverse in real estate with more than $41 billion of assets under management. For further information, please visit our Web site, http://www.joneslanglasalle.com.
About BPG Properties, Ltd.
BPG Properties, Ltd. is one of the nation's leading private equity real estate fund managers. BPG's portfolio consists of over 20 million square feet of office, retail, student housing, and industrial properties and more than 25,000 apartment units in more than 100 communities located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Los Angeles, Chicago, Washington DC, Boston, Atlanta and Raleigh-Durham. For additional information, please visit the company's website at http://www.bpgltd.com.
For additional information on BPG Properties, Ltd., please contact:
Holly T. Reynolds, Vice President, at (215) 575-2363
For additional information on Highview at Providence Corporate Center, please contact:
Neil F. Gallagher, Vice President, at (215) 575-2483
For leasing information on Highview at Providence Corporate Center, please contact:
Michael Morrone or Whitney Hunter at (215) 988-5500