Brandywine Realty Trust Announces Over 1.8 Million Square Feet of Leasing Activity

Mon Jul 6, 2009 4:15pm EDT
 
[-] Text [+]
Brandywine Realty Trust Announces Over 1.8 Million Square Feet of Leasing
Activity

RADNOR, Pa., July 6 /PRNewswire-FirstCall/ -- Brandywine Realty Trust (NYSE:
BDN) announced today that it has signed over 1.8 million square feet in new
and renewed leases during the first and second quarters of 2009, including
more than 361,000 square feet of leasing activity commencing through June 30,
2009.

"The economic climate continues to impact tenant demand and activity levels,"
stated Gerard H. Sweeney, President and Chief Executive Officer of Brandywine
Realty Trust.  "We are, however, pleased with our high level of lease renewals
and new tenant lease execution throughout the portfolio."


            SF Signed &   SF Signed with Future Commencement Dates
              Commenced                            Beyond   Total SF
    Region  During 2Q09     3Q09     4Q09     2010   2010     Signed
    PA           53,928  132,687  136,660  283,654  48,863   655,792
    DC          123,740   87,413   17,335  119,237       0   347,725
    NJ/DE       117,842   92,953   32,670   35,179  43,050   321,694
    AUS               0  120,221   25,343  153,386       0   298,950
    RCH          47,565   41,987    1,388   81,024   3,544   175,508
    CA           18,737   11,743   48,763   13,941       0    93,184
    Total       361,812  487,004  262,159  686,421  95,457 1,892,853


Leasing Highlights include the following transactions:

Pennsylvania (655,792 SF)
Major leases include:
    --  VWR International signed a new 149,858 SF lease at Radnor Corporate
        Center I, Radnor
    --  Stevens Capital Management renewed a 49,484 SF lease at 201 King of
        Prussia Road, Radnor
    --  Hangley renewed a 44,634 SF lease at One Logan Square, Philadelphia
    --  The Department of Forestry renewed a 24,751 SF lease at 11 Campus
        Boulevard, Newtown Square
    --  Fishman & Tobin signed a new 23,923 SF lease at Metroplex, Plymouth
        Meeting
    --  CSL Behring signed a new 20,805 SF lease at 1060 First Avenue, King of
        Prussia
    --  Children's Hospital of Philadelphia renewed a 19,275 SF lease at
        481 John Young Way, Exton
    --  Hibachi renewed a 18,900 SF lease at The Philadelphia Marine Center,
        Philadelphia
    --  Essent Guarantee signed a new 15,759 SF lease at 201 King of Prussia
        Road, Radnor
    --  United Biosource renewed a 15,040 SF lease and expanded by an
additional
        3,964 SF at 920 Harvest Drive, Blue Bell
    --  ActiveStrategy, Inc. signed a new 12,990 SF lease at Four Plymouth
        Meeting Executive Campus, Plymouth Meeting
    --  Akcelerent Holdings, LLC renewed a 12,400 SF lease and expanded by an
        additional 6,000 SF at 100 Valleybrooke, Malvern


    --  Wachovia Securities, LLC renewed a 12,371 SF lease at 150 Radnor
Chester
        Road, Radnor



Metro DC (347,725 SF)
Major leases include:
    --  AT&T Government Solutions renewed a 105,172 SF lease at 1900 Gallows
        Road, Vienna, VA
    --  National Rural Utilities Cooperative Finance Corporation extended two
        leases, one at 2201 Cooperative Way (92,284 SF) and the other at 2121
        Cooperative Way (7,316 SF) in Herndon, VA
    --  A major tenant signed a lease expansion for 29,939 SF at South Lake,
        Herndon, VA to occupy 99.5% of the building


    --  Lockheed Martin renewed a 20,667 SF lease at 2411 Dulles Corner,
        Herndon, VA and signed a new 22,311 SF lease at 2275 Research
Boulevard,
        Rockville, MD



New Jersey (321,694 SF)
Major leases include:
    --  Harbor Linens renewed 86,735 SF of leases at One, Two and Four Foster
        Avenue, Gibbsboro
    --  Fox Rothschild signed a new 33,325 SF lease at 997 Lenox Drive,
        Lawrenceville
    --  ISO renewed a 17,976 SF lease at 4B Eves Drive, Marlton
    --  Stevens & Lee signed a new 15,630 SF lease at 100 Lenox Drive,
        Lawrenceville
    --  ICue TV signed a new 13,168 SF lease at 210 Lake Drive East, Cherry
Hill
    --  White & Williams renewed a 12,240 SF lease at 457 Haddonfield Road,
        Cherry Hill


    --  Dilworth Paxon renewed a 11,862 SF lease at 457 Haddonfield Road,
Cherry
        Hill



Austin, Texas (298,950 SF)
Major leases include:
    --  Intel renewed a 153,386 SF lease at One Barton Skyway
    --  ARM, Inc. signed a new 42,527 SF lease at The Park on Barton Creek
    --  Solar Winds signed an expansion lease of 36,787 SF at The Park on
Barton
        Creek
    --  Davis & Wilkerson renewed a  21,112 SF lease at Spyglass Point
    --  Bickerstaff Health signed a new 19,795 SF lease The Park on Barton
Creek
    --  Accenture renewed a 16,056 SF lease at One Barton Skyway


    --  Breedlove & Associates signed a new 9,287 SF lease at The Park on
        Barton Creek



Richmond, Virginia (175,508 SF)
Major leases include:
    --  Anthem Health Plans renewed a 71,288 SF lease at One Paragon Place


    --  GSA signed a new 9,736 SF lease at Arboretum III



California (93,184 SF)
Major leases include:
    --  KEMA, Inc. signed a new 34,537 SF lease at 155 Grand Avenue, Oakland
    --  Kisco Development renewed a 12,830 SF lease at Pacific Ridge Corporate
        Centre, Carlsbad


    --  V&A Consulting Engineers signed an 8,391 SF lease at 155 Grand
        Avenue, Oakland



About Brandywine Realty Trust

Brandywine Realty Trust is one of the largest, publicly traded, full-service,
integrated real estate companies in the United States. Organized as a real
estate investment trust and operating in select markets, Brandywine owns,
develops and manages a primarily Class A, suburban and urban office portfolio
aggregating approximately 37.3 million square feet, including 26.1 million
square feet which it currently owns on a consolidated basis.  For more
information, visit our website at www.brandywinerealty.com.

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. 
Such forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause the actual results, performance, achievements
or transactions of the Company and its affiliates or industry results to be
materially different from any future results, performance, achievements or
transactions expressed or implied by such forward-looking statements.  Such
risks, uncertainties and other factors relate to, among others, the Company's
ability to lease vacant space and to renew or relet space under expiring
leases at expected levels, the potential loss of major tenants, interest rate
levels, the availability and terms of debt and equity financing, competition
with other real estate companies for tenants and acquisitions, risks of real
estate acquisitions, dispositions and developments, including cost overruns
and construction delays, unanticipated operating costs and the effects of
general and local economic and real estate conditions.  Additional information
or factors which could impact the Company and the forward-looking statements
contained herein are included in the Company's filings with the Securities and
Exchange Commission.  The Company assumes no obligation to update or
supplement forward-looking statements that become untrue because of subsequent
events.

SOURCE  Brandywine Realty Trust

Investor/Press, Marge Boccuti, Manager, Investor Relations of Brandywine
Realty Trust, +1-610-832-7702, marge.boccuti@bdnreit.com; Company, Howard M.
Sipzner, EVP & CFO of Brandywine Realty Trust, +1-610-832-4907,
howard.sipzner@bdnreit.com

 

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video