Press Releases


<p><b>TEWKSBURY, MA. – (April 13, 2009) - </b>BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, announced the execution of six leases totaling 74,384 square feet at Highwood Office Park in Tewksbury, Massachusetts. The leasing agreements included: a 19,904 square foot lease for Tactical Communications Group., 14,582 square foot lease for Edwards Vacuum, 7,874 square foot lease for Cast Navigation, 5,068 square foot lease for International Rectifier (NYSE: IRF), 3,285 square foot lease for Fairchild Semiconductor (NYSE: FCS), and a 23,671 square foot renewal and expansion with AARP Financial including a new lease for 4,925 square feet to AARP Services.</p> <p> “We are thrilled to have nearly 80% occupancy at Highwood with the addition of five new tenants and AARP’s expansion and extension. Despite the difficult economic environment, these tenants recognized our commitment to improving the office park and have realized the overall value that the property delivers to tenants in amenities, location and price,” commented Michael Rota, asset manager in BPG’s Boston Regional Office.</p> <p>Tactical Communications Group provides customized radio systems for emergency providers, municipalities, government, institutional and business users. Edwards Vacuum is a supplier of integrated solutions for the manufacturing of semiconductors, flat panel displays, LEDs and solar cells and a leader in vacuum technology for industrial, scientific, process and R&D applications. CAST Navigation is a leading provider of GPS simulators that supports navigation system research, design, integration and testing at laboratories worldwide. International Rectifier provides power management technology for manufacturers of computers, appliances, automobiles, consumer electronics and defense systems. Fairchild Semiconductor delivers energy-efficient power analog and power discrete solutions. AARP Financial Inc. and AARP Services are wholly owned taxable subsidiaries of AARP. The company is dedicated to helping people age 50 and over prepare for a more secure financial future by offering products and services designed to meet their retirement needs.</p> <p>Edwards Vacuum, Fairchild Semiconductor, and International Rectifier moved into Three Highwood, a two-story 104,445 square foot office building. Cast Navigation’s offices will be located in One Highwood, a 90,286 square foot office building, while AARP expanded its current offices at Two Highwood, a two-story, 82,193 square feet office building where Tactical Communications Group will also make its home.</p> <p>“We looked at several properties as well as renewing with our current landlord before settling on Highwood Office Park for our new home. Convenient location, modern amenities and the ease in working with BPG and their architect, Design Science, kept us focused on Highwood and ultimately helped close the deal,” stated Marty McDonough, president and chief executive officer of Tactical Communications Group, LLC.</p> <p>The three buildings at Highwood Office Park vary in size from 82,193 square feet to 104,445 square feet. Built between 1987 and 1999, the buildings are similar in design with attractive red brick exte¬riors and steel frame construction. Highwood Office Park is centrally located in Boston’s northern suburbs within 30 minutes of Boston and Logan International Airport. It is located at the intersection of Interstate 495 and Route 133 and is within five miles of In¬terstate 93 and Route 3. The office park is also home to a full service hotel with a restaurant and health club.</p> <p>Since acquiring the property in 2005, BPG has added an on-site café and fitness center in Two Highwood Drive. Management responsibilities were transferred to BPG Management Company in the fall of 2007. Last year, BPG completed a major capital improvements campaign for the Park, including lobby renovations in each of the buildings, an expansion fitness facility, an upgrade of the lighting and fixtures, and extensive restroom renovations.</p> <p>Tactical Communications Group was represented by Daniel Kollar of Jones Lang LaSalle; Edwards Vacuum was represented by Sean Lynch, Jones Lang LaSalle; Cast Navigation was represented by Torin Taylor of Cushman & Wakefield; International Rectifier was represented by Chris Lawrence, Colliers Meredith & Grew; Fairchild Semiconductor was represented by Brooks Murphy, Jones Lang LaSalle; AARP was represented by Matt Adams, Rich Ruggiero, Torin Taylor and Rory Walsh of Cushman & Wakefield who also represented the owner as exclusive leasing agents in the transactions.</p> <b>About BPG Properties, Ltd.</b><br> BPG Properties, Ltd. is one of the nation’s leading private equity real estate fund managers. BPG’s portfolio consists of over 20 million square feet of office, retail, student housing, and industrial properties and more than 25,000 apartment units in more than 100 communities located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Los Angeles, Chicago, Washington DC, Boston, Atlanta and Raleigh-Durham. For more information, please visit the company’s website at<br><br> <b>For additional information on BPG Properties, Ltd., please contact:</b><br> Holly Reynolds, Vice President, 215-575-2363<br><br> <b>For additional information on the property, please contact:</b><br> Michael Rota, Asset Manager, 781-577-2707<br>