Press Releases

BPG COMPLETES 100,000 SF OF LEASING WITH THE GENERAL SERVICES ADMINISTRATON IN NORTHERN VA

<p><b>Reston, VA. – (March 14, 2011) – </b>BPG Properties, Ltd., one of the nation’s leading private equity real estate fund managers, announced today the execution of three leases totaling approximately 100,000 square feet with the United States General Services Administration (GSA) at both 8111 Gatehouse Road in Merrifield, Virginia and Potomac Gateway in Arlington, Virginia. The landlords were represented in the lease negotiations by Darien LeBlanc and Scott Killie of Cassidy Turley. </p> <p>“We are pleased to have completed these transactions with the GSA,” commented Brian Fitzgerald, senior vice president and director of BPG’s Regional Washington, DC office, who was responsible for the lease transactions. “We believe our leasing velocity is reflective of the quality, location and value that both these buildings provide in their respective submarkets.” </p> <p>The largest of the GSA leases involved a lease for approximately 70,000 square foot at 8111 Gatehouse Road, a 282,000 square foot office building located overlooking the interchange of Route 50 and Interstate 495 in Merrifield, Virginia. The GSA will occupy approximately two floors in the six-story, newly renovated office building. </p> <p>The GSA’s mission is to provide superior workplaces, expert technology solutions, acquisition services, purchasing and E-Gov travel solutions and management policies, at the best value, to allow federal agencies to focus on their core missions. </p> <p>BPG acquired 8111 Gatehouse Road in the fourth quarter 2006. In 2009, the firm completed extensive renovations to the building which included a redesign of the main lobby, elevator lobbies and restrooms and building system upgrades throughout. 8111 Gatehouse Road is located just seconds from both Route 50 and Interstate 495 with easy access to downtown Washington, D.C., the Pentagon, Route 66, the Dulles Corridor and is just five minutes from Tysons Corner. Public transportation is available with access to two Metrorail stations as well as the Metrobus and Fairfax mconnector bus networks. There is also shuttle service from the building to the Dunn Loring Metro station. In the fourth quarter 2010, Accenture executed a lease for approximately 12,000 square feet at the building. Currently, there is 200,000 square feet available for lease. The property also includes 660 spaces of under building parking as well as on-site fitness center and conference facilities. The property is within walking distance to shopping and lodging. </p> <p>The other two lease transactions with the GSA were for 9,400 square feet and 23,200 square feet at Potomac Gateway, a 350,000 square foot, two building office complex located in the Crystal City area of Arlington, Virginia. The property includes 2800 Crystal Drive, a 175,000 square foot, ten-story office building and 2900 Crystal Drive, a 170,000 square foot, ten-story office building. These two leases will enable the GSA to occupy space in 2900 Crystal Drive. </p> <p>Potomac Gateway offers fully renovated office space, modern lobbies and common areas. Typical floor plates are 19,000 square feet. On-site amenities include a tenant only fitness center and deli situated in 2800 Crystal Drive and over 700 parking spaces underground. The complex also offers a dedicated shuttle to the Metro, Virginia Railroad Express (VRE) and the Pentagon and is located a few minutes from Reagan National Airport, the Metro and an abundance of shopping and dining options. Immediate access is available to US Route 1, with connections to the Pentagon, downtown Washington, the George Washington Parkway, Interstates 395 and 66, Route 50 and the 14th Street Bridge. Currently, there is 110,000 square feet available for lease between the two buildings. </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 24 million square feet of office, retail, student housing, and industrial properties and more than 18,000 apartment units in over 70 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 additional information, please visit the company’s website at www.bpgltd.com.<p> <b>For additional information on BPG Properties, Ltd., please contact: </b><br> Joseph G. Nahas, Jr., Vice President, 215-575-2363<p> <b>For additional information on the property, please contact: </b><br> Brian J. Fitzgerald, Senior Vice President, 703-391-1482