Binswanger Negotiates Multiple Leases for O'Neill Properties' Millennium Corporate Center in Conshohocken, PA.

Business Editors

KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Aug. 7, 2003

As exclusive leasing agent for O'Neill Properties, LP, Binswanger has recently secured four major tenants in the Millennium Corporate Center in Conshohocken, Pennsylvania. The combined lease transactions are valued at over $7.5 million. Scott Gabrielsen, Senior Vice President in Binswanger's King of Prussia office and the team of Patrick Kelley, Paul French and Chris Flynn handled the transactions.

From medical innovators and day care operators to finance and mortgage lenders, the tenant base for Millennium III is shaping up to be a highly diverse group. San Diego-based, CardioNet, Inc. signed a long-term lease for a 17,000 square foot customer service center and plans to move in to the new space in October. The privately-owned company has developed a patented, state-of-the-art, mobile ECG monitoring and analysis system that aides physicians in treating patients with arrhythmia.

Seeing a rising demand for convenient, high-quality day care along the booming Conshohocken waterfront, Cambridge Child Care has signed a long-term lease for approximately 12,000 square feet. The space will serve as the company's flagship location, and they intend to open for business in September. Gabrielsen, who brought this tenant in directly, saw a classic case of supply and demand, saying "Conshohocken is seeing tremendous commercial and residential growth right now, which is creating a perfect client base for Cambridge." "It's also just one more way O'Neill Properties is realizing their overall vision of a live, work and play community," Gabrielsen added.

Millennium III is also an accommodating and prestigious location for traditional business tenants and will be the new home of two area mortgage companies. The Niemeyer Group, Inc., has penned a lease for 2,300 square feet and will relocate from Bala Cynwyd. This well-established, full-service financial advisory company focuses on strategy development, planning and investment management. Growing as the result of a major surge in refinance, Arlington Capital Mortgage Corporation will relocate from Villanova at the end of August and occupy approximately 6,000 square feet.

O'Neill Properties is Pennsylvania's leading private real estate development company located in King of Prussia, PA. The group focuses on the redevelopment of older industrial properties into state-of-the-art Class "A" office space, built-to-suit corporate headquarters and luxury multi-family residential housing.

Headquartered in Philadelphia, PA, Binswanger/CBB is a member of Chesterton Blumenauer Binswanger, an international, full-service real estate organization with over 160 offices worldwide throughout the U.S.A., Canada, Mexico and South America, the U.K. and Europe, the Middle East, Asia, South Africa and Australia.