Brandywine Realty Trust Announces 401 Plymouth Road is 30% Pre-Leased; Century Business Services Signs 55,000 Square Foot Lease.Business Editors PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)--Oct. 4, 2001 Brandywine Realty Trust Brandywine Realty Trust (NYSE: BDN) is a real estate development trust (REIT) in the United States that buys, sells, leases and manages approximately 225 commercial properties, no more than 25 industrial parcels of land, mixed-use property, and over 200 acres of undeveloped (NYSE NYSE See: New York Stock Exchange : BDN), reports 60,000 square feet of leases have been signed at 401 Plymouth Road in Plymouth Meeting, Pennsylvania Plymouth Meeting is a census-designated place (CDP) in Montgomery County, Pennsylvania, United States. The population was 5,593 at the 2000 census. It is home to the Colonial School District as well as the Plymouth Meeting Mall. . These leases result in the 200,000 square foot, Class A office building being approximately 30% pre-leased. The six-story facility is expected to be completed in the first half of 2002. Century Business Services, Inc. ("CBIZ CBIZ Century Business Services Inc. ") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CBIZ) has signed a 55,000 square foot lease at 401 Plymouth Road for the consolidation of five of their offices throughout the suburban Philadelphia area. The new office will house three CBIZ Business Solutions offices, currently located in Jenkintown, Bala Cynwyd and downtown Philadelphia (and their associated CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. firms Zelenkofske Axelrod, Jones Hayward Wielgus McNally & Lenzi, and Halbert Katz & Co., respectively); CBIZ Benefits and Insurance Services of Blue Bell; and CBIZ Trilinc Consulting of Conshohocken. A provider of outsourced business services to small and medium-sized companies throughout the United States, CBIZ is the nation's seventh-largest accounting services company and the 12th largest business insurance broker in the United States, with a network of more than 200 company offices in 34 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and Toronto, Canada. "We are extremely pleased with the success of our pre-leasing efforts at 401 Plymouth Road," stated Gerard H. Sweeney, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This performance reaffirms our strategy to move forward with this world-class development as well as the underlying strength of the regional real estate marketplace. The pre-leased status of the building before its completion is a positive sign of market conditions and the desirability of the Brandywine Realty Trust brand identity in the region." "This is a major step forward for CBIZ as we work integrating our service offerings to make outsourcing more convenient for clients," stated CBIZ CEO Steven L. Gerard. "We owe thanks to CBIZ's Gibraltar Real Estate Services Corporation and CRESA Partners for their roles in making this happen, as the new building will be truly state-of-the-art." In addition, a lease has also been executed with another tenant for 5,900 square feet on the first floor at 401 Plymouth. 401 Plymouth Road is strategically located at the intersection of the Blue Route (I-476), the Pennsylvania Turnpike and the Northeast Extension, providing outstanding access to all points in the Greater Philadelphia Metropolitan area. Additionally, the development is in close proximity to The Court and The Plaza at King of Prussia The Plaza at King of Prussia is part of what is popularly referred to as the King of Prussia Mall, a huge shopping complex in King of Prussia, which is located in Upper Merion Township, Pennsylvania, in the United States. , offering excellent nearby conveniences. 401 Plymouth Road was designed to offer a world-class office environment for its tenants. The building's state-of-the-art architecture and advanced building systems create a sophisticated working environment for its tenants and will provide the highest caliber new development in the Delaware Valley region. Notable features of this exceptional quality development include high speed voice and data delivery systems, a 4.5/1000 parking ratio which includes a four-story parking deck, state-of-the-art HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free system, redundant power, energy efficient glass, dramatic lobby, high-quality common areas and scenic views of the surrounding countryside. Additional amenities in the building include a deli, conference center, fitness center and ATM machine. In addition, every tenant at 401 Plymouth Road is offered e-Tenants, the most comprehensive B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business , B2C and facility management web-based portal in the industry. Brandywine Realty Trust, with headquarters in Newtown Square, PA and regional offices in King of Prussia King of Prussia, industrialized suburban area (1990 pop. 18,406), Montgomery co., SE Pa. It has glass and steel fabricating, food processing, printing and publishing, and varied manufacturing (textiles, liquified petroleum gas, water-treatment and electrical , PA, Mt. Laurel, NJ and Richmond, VA is one of the Mid-Atlantic region's largest full service real estate companies. Brandywine owns, manages or has an ownership interest in 321 office and industrial properties, aggregating 21.4 million square feet. Note: Certain statements in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. |
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