BPG Properties finds Treasury of a tenant.

BPG Properties, Ltd., the operating affiliate of Berwind Property Group, Ltd., announced the execution of a 38,257 s/f lease with the New Jersey Department of Treasury at Interchange 7 Business Park in Bordentown, N.J. Interchange 7 Business Park consists of a two-story, 38,257 s/f office building, an 186,593 s/f office and warehouse distribution facility and approximately 15 acres of development land.

The property management and construction division of the New Jersey Department of Treasury will occupy 100% of the existing two-story office building, which is in move-in condition.

The building was developed in 1996 as a corporate headquarters facility and acquired by BPG in June 2004.

Interchange 7 Business Park is situated immediately adjacent to Exit 7 of the New Jersey Turnpike and Interstate 295 at Exit 56 in Bordentown township, Burlington county, N.J.

In addition to the two existing buildings, the 34-acre park can accommodate an additional 175,000 s/f of development. Current development plans include a single warehouse/flex building of up to 135,000 s/f, as well as a limited service hotel and restaurant. Zoning allows for office, light industrial, warehouse, distribution and retail uses, as well as a hotel.

Representing building ownership in the lease transaction was Steven Tolcash, of GVA Williams Buschman. The Department of Treasury was represented by Jerry Fennelly, of NAI Fennelly.