Press release from PR Newswire
Brandywine Realty Trust Executes 268,000 Square Foot Lease Renewal with Pepper Hamilton LLP at Two Logan Square in Philadelphia, PA
Monday, July 01, 2013
Brandywine Realty Trust Executes 268,000 Square Foot Lease Renewal with Pepper Hamilton LLP at Two Logan Square in Philadelphia, PA16:10 EDT Monday, July 01, 2013
RADNOR, Pa., July 1, 2013 /PRNewswire/ -- Brandywine Realty Trust (NYSE: BDN) announced today that it has executed a long-term lease renewal with Pepper Hamilton LLP for approximately 268,000 square feet in Two Logan Square, Philadelphia, Pennsylvania. Pepper Hamilton is one of Brandywine's top three largest tenants and, as a result of this early lease renewal, will retain all of its existing space in Two Logan Square, which lease had been scheduled to expire in 2015.
"We are delighted to retain Pepper Hamilton as a key tenant and maintain the firm's longstanding presence in Two Logan Square. Pepper Hamilton's excellent reputation and practice diversity provide significant stability to our Philadelphia CBD portfolio," stated Gerard H. Sweeney, President and Chief Executive Officer of Brandywine Realty Trust. "We appreciate Pepper Hamilton's continued confidence in Brandywine as a provider for the firm's real estate needs."
Thomas J. Cole, Jr., Managing Partner of Pepper Hamilton, said he was pleased with the transaction. "Our Two Logan location has worked well for our clients, attorneys and employees," Cole said. "It has also contributed to the business vitality of Center City. I look forward to continuing our mutually-beneficial relationship with Brandywine."
Since purchasing Three Logan Square in August of 2010, Brandywine has executed over 1.5 million square feet of lease transactions in the three building 2.3 million square foot Logan Square complex. This most recent transaction, along with several other large long-term leases, brings tremendous growth and value to the Logan Square portfolio.
Pepper Hamilton was represented in the transaction by Greg O'Brien, Elizabeth Cooper, Pete Talman, and David Healy of Jones Lang LaSalle. Brandywine was represented by its Director of Leasing, Steve Rush and Leasing Representative, Matt Croce.
About Pepper Hamilton LLP
Pepper Hamilton LLP is a multi-practice law firm with more than 500 lawyers nationally. The firm provides corporate, litigation and regulatory legal services to leading businesses, governmental entities, nonprofit organizations and individuals throughout the nation and the world. More information on Pepper Hamilton may be obtained on their website at www.pepperlaw.com.
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, leases and manages an urban, town center and suburban office portfolio comprising 289 properties and 33.2 million square feet, including 214 properties and 24.3 million square feet owned on a consolidated basis and 56 properties and 6.4 million square feet in 19 unconsolidated real estate ventures all as of March 31, 2013. For more information, please visit www.brandywinerealty.com.
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, including our Form 10-K for the year ended December 31, 2012. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
SOURCE Brandywine Realty Trust
For further information: Company / Investor: Marge Boccuti, Manager, Investor Relations, 610-832-7702, firstname.lastname@example.org