Berwind bags 800,000 s/f.Berwind Property Group, Ltd (BPG BPG Blocks Per Game (basketball statistic)
BPG Bi-National Planning Group (NORADHQ)
BPG Belgian Polymer Group
BPG Binational Planning Group ) announced the completion of three transactions totaling nearly 800,000 s/f of existing office, R & D and industrial space with additional land capable of supporting approximately 730,000 s/f of development.
Combined, the acquisitions total $43 million and are located in Bordentown, South Brunswick South Brunswick is the name of several places in the United States of America:
Princeton, New Jersey is located in Mercer County, New Jersey, United States. Princeton University has been sited in the town since 1756. . The acquisitions were made on behalf of BPG Investment Partnership VI, a $384 million private equity fund sponsored by BPG.
"Our recent acquisitions in New Jersey are representative of BPG's balanced, value added Value Added
The enhancement a company gives its product or service before offering the product to customers.
This can either increase the products price or value. investment strategy," stated Arthur P. Pasquarella, Chief Operating Officer Chief Operating Officer (COO)
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of BPG.
"These transactions included office, lab and industrial properties requiring re-leasing and/or redevelopment. Additionally, two of the three properties offer new development opportunities."
All three acquisitions were completed over a one week period ending June 1 and were negotiated by Christopher J. Locatell, Vice President of BPG.
"51 Commerce Drive, a 269,000 square foot, 58% leased warehouse facility located in South Brunswick, New Jersey, was the first transaction completed and marks BPG's entry into the New Jersey Turnpike Exit 8A industrial market, one of the country's premier industrial markets," explained Mr. Locatell.
The second acquisition was the Bordentown Interchange Business Park, a 223,000 s/f office and warehouse complex located in Bordentown, New Jersey
Bordentown is a city in Burlington County, New Jersey, United States. As of the United States 2000 Census, the city population was 3,969, and the city measured an area of 0.94 Square Miles (2.43 Sq KM). . The property is 48% leased to Prince Racquets racquets, game played by two or four persons on a court 60 by 30 ft (18.3 m by 9.1 m); it is surrounded by three walls 30 ft (9.1 m) high and a backwall 15 ft (4.6 m) high. The ball, 1 in. (2.54 cm) in diameter, is made of polyethylene with an adhesive tape cover. for their headquarters and warehouse operations.
According to Locatell, "This is a quickly emerging industrial market that is benefiting from its ease of access to both Pennsylvania and New Jersey."
330-350 Carter Road in Princeton, New Jersey was the largest and last transaction. The property includes a 300,000 s/ f corporate campus, in Princeton. The three-building campus is situated on approximately 355-acres and can accommodate more than 500,000 square feet of additional office development.