Binswanger/CBB Arranges 15 1/2 Year Lease for Comcast Corporation at Comcast Center in Philadelphia, Pennsylvania.

PHILADELPHIA -- Binswanger/CBB is pleased to announce they have negotiated a 15 1/2 year lease on behalf of Comcast Corporation with Liberty Property Trust at the future Comcast Center to be located at 1701 John F. Kennedy Boulevard in Philadelphia, PA. Binswanger/CBB will also serve as Comcast's project manager for interior tenant improvements.

The 1.2 million square foot building, designed by Robert A.M. Stern, is the largest private commercial development project in Pennsylvania to date. Construction on the 57-story, 975 foot tower is scheduled to commence in mid-January 2005 and to reach completion by Fall of 2007. Comcast will occupy 24 floors, equaling 534,000 square feet of Class A office space. This new headquarters will include research and development laboratories, technology demonstration areas, employee training areas and Comcast University. The building will also feature on-site parking, a tie-in to the commuter rail station and retail opportunities.

"This is a remarkable opportunity for the City of Philadelphia," remarked David R. Binswanger, President and CEO of Binswanger/CBB. "The project represents a $400 million investment in the City and the Commonwealth. Moreover, approximately 1,000 new jobs are expected to be created by Comcast over the next decade."

Comcast Corporation is the leading provider of cable, entertainment and communications products and services in the United States. They serve 21.5 million cable and 6.5 million high-speed Internet consumers. In addition, Comcast Corporation owns Comcast SportsNet, E! Entertainment Television, Style Network, The Golf Channel, Outdoor Life Network and G4techTV. They are also the majority shareholder of Comcast-Spectacor, owners of the Philadelphia Flyers of the NHL, the Philadelphia 76ers of the NBA and two entertainment arenas in the City of Philadelphia.

Liberty Property Trust is a leading real estate company with a portfolio encompassing 60 million square feet of office and industrial properties. They serve over 2,100 tenants through expert property management, marketing and development techniques.

Headquartered in Philadelphia, PA, Binswanger/CBB is an international, full-service real estate organization, with offices worldwide throughout the U.S.A., Canada, Mexico and South America, the U.K. and Europe, the Middle East, Asia and Australia.