The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from PR Newswire

Brandywine Realty Trust Announces Third Quarter Leasing Activity

Thursday, October 18, 2012

Brandywine Realty Trust Announces Third Quarter Leasing Activity16:30 EDT Thursday, October 18, 2012RADNOR, Pa., Oct. 18, 2012 /PRNewswire/ -- Brandywine Realty Trust (NYSE: BDN) announced today that it has signed 912,983 square feet of new and renewal leases during the third quarter of 2012."We continue to be pleased with the level of leasing activity and our regional leasing teams' ability to convert tenant interest to executed leases," stated Gerard H. Sweeney, President and Chief Executive Officer of Brandywine Realty Trust.  "Including the third quarter activity, we have signed nearly 2.4 million square feet year-to-date including 538,952 square feet of new leases that will commence subsequent to the quarter."RegionSF Signed & Commenced During 3Q'12Total SF Signed in 3Q 2012 with Future Commencement Dates                Total SF Signed4Q 20121H  20132H 2013After 2013DC69,32028,633160,33028,308-286,591PA29,48093,15250,90617,10237,528228,168NJ/DE54,63486,64924,24617,1636,340189,032RCH37,75841,82310,672-14,417104,670PHL CBD46,72622,443---69,169CA-19,0888,3957,870-35,353Total237,918291,788254,54970,44358,285912,983 Lease TypeSF Signed & Commenced During 3Q'12Total SF Signed in 3Q 2012 with Future Commencement DatesTotal SF Signed4Q 20121H  20132H 2013After 2013New98,828234,29237,42732,423-402,970Renewal139,09057,496217,12238,02058,285510,013Our third quarter leasing activity includes the following transactions:Metro DC (286,591 SF)ICC Constructors signed new leases for 10,386 square feet at 11700 Beltsville Drive, Beltsville, MD and 5,000 square feet at 11710 Beltsville Drive, Beltsville, MD ICC Corridor Partners renewed 13,792 square feet at 11710 Beltsville Drive, Beltsville, MD Baum Romstedt Technology Research Corporation signed a 28,308 square foot lease at 8521 Leesburg Pike, Vienna, VA First Guaranty Mortgage Corporation signed a 23,285 square foot lease at 1900 Gallows Road, Vienna, VA Northrop Grumman renewed a 19,572 square foot lease at 12015 Lee Jackson, Fairfax, VA Management Analysis, Inc. signed a 15,028 square foot lease at 1900 Gallows Road, Vienna, VAPennsylvania Suburbs (228,168 SF)Essent US Holdings, Inc. renewed and expanded its lease for a total of 26,874 square feet and is relocating to Two Radnor Corporate Center, Radnor, PA CableNet Services Unlimited (Pennsylvania) LLC renewed a 16,500 square foot lease at 620 Allendale Road, King of Prussia, PA Green Apple Management Company, LLC signed a 15,759 square foot expansion lease at 201 King of Prussia Road, Radnor, PA Metropolitan Life Insurance Company renewed a 14,596 square foot lease at 610 Plymouth Meeting Executive, Plymouth Meeting, PA Fleming & Van Metre Advertising renewed a 12,987 square foot lease at 630 Plymouth Meeting Executive, Plymouth Meeting, PA Planalytics, Inc. renewed a 12,694 square foot lease at 200 Berwyn Park, Berwyn, PA Forethought Financial Services signed a 10,331 square foot lease at 400 Berwyn Park, Berwyn, PANew Jersey / Delaware (189,032 SF)Admiral Insurance signed a 53,609 square foot lease at 1000 Howard Boulevard, Mount Laurel, NJ McCormick Taylor renewed a 25,773 square foot lease at 700 East Gate Drive, Mt Laurel, NJ Princeton Healthcare Systems renewed a 17,163 square foot lease at 993 Lenox Drive, Lawrenceville, NJ USI signed a 10,024 square foot lease at 309 Fellowship Road, Mt Laurel, NJRichmond, Virginia (104,670 SF)TLK Group renewed a 10,487 square foot lease and signed a 6,300 square foot expansion lease at Gateway Centre Two, Richmond, VA Belfor USA Group renewed a 7,200 square foot lease and signed a 4,950 square foot expansion lease relocating to Dabney IV, Richmond, VA A regional law firm signed a 10,015 square foot lease at Three Paragon Place, Richmond, VACalifornia (35,353 SF)Experian Marketing Solutions, Inc. signed a 16,410 square foot lease at Lake Merritt Tower, Oakland, CAAbout Brandywine Realty TrustBrandywine 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, leases and manages an urban, town center and suburban office portfolio comprising 295 properties and 34.0 million square feet, including 219 properties and 24.5 million square feet owned on a consolidated basis and 57 properties and 7.0 million square feet in 19 unconsolidated real estate ventures all as of September 30, 2012. For more information, please visit www.brandywinerealty.com.Forward-Looking StatementsCertain 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, including our Form 10-K for the year ended December 31, 2011.  The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.  SOURCE Brandywine Realty TrustFor further information: Company / Investor Contact: Marge Boccuti, Manager, Investor Relations, +1-610-832-7702, marge.boccuti@bdnreit.com