Press Releases


<p><b>Philadelphia, PA. – (September 18, 2008) – </b>BPG Properties, Ltd (BPG), one of the nation’s leading private equity real estate fund managers announced the execution of leases totaling 47,000 square feet with The Hartford Financial Services Group Inc. (The Hartford), The Hartford’s Specialty Risk Services (SRS) subsidiary, and Worldwide Clinical Trials (Worldwide Clinical) at 1000 Continental. Developed by BPG, 1000 Continental is a 200,000 square foot office building located at the highly traveled intersection of Routes 202, 422 and the Interstate 76 in King of Prussia, Pennsylvania. The Hartford and SRS will lease the entire third floor of the building while Worldwide Clinical will occupy a portion of the second floor. Occupancy for all three tenants is expected by December 2008.</p> <p>“We are pleased to welcome The Hartford, SRS, and Worldwide Clinical to 1000 Continental,” commented Stephen M. Spaeder, senior vice president who along with Neil Gallagher, vice president, negotiated the lease transactions for BPG. “As the only building in the King of Prussia market that has been designed and engineered to meet LEED™ certification requirements, 1000 Continental provides companies newly developed, environmentally responsible Class A office space with numerous on-site amenities and services.”</p> <p>The Hartford, a Fortune 100 company, is one of the nation's largest diversified financial services companies, with 2007 revenues of $25.9 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, the United Kingdom, Canada, Brazil and Ireland. The Hartford’s subsidiary, Specialty Risk Services, is one of the largest third party administrators in the industry. Founded in 1990, the company provides workers' compensation, auto, general and product liability, integrated disability, claim administration and risk management services nationwide. Approved by more than 20 insurance carriers, SRS offers bundled and unbundled services to both self-insured and insured clients, including many Fortune 500 companies. The Hartford and SRS were represented in the lease negotiations by Bob Shulman, Maureen Young and Matt Feeney of CRESA Partners.</p> <p>Worldwide Clinical Trials is a leading provider of international contract clinical research services, focusing on early and late-stage drug development services for pharmaceutical and biotechnology companies. The company develops sophisticated and innovative approaches to research with primary focus in the areas of cardiovascular and central nervous system medicine along with significant experience in Chronic Inflammatory Disease, Metabolic / Endocrinology and Oncology. Worldwide Clinical was represented by Linda Schultz of GVA Smith Mack in the lease negotiations.</p> <p>The landlord was represented in both transactions by the project’s exclusive leasing agents: Jeffrey Mack, Douglas Newbert and John Susanin of GVA Smith Mack.</p> <p>1000 Continental offers landmark visibility and superior access to the region's major highways, retail and dining centers and far reaching suburban labor pool. The building totals 200,000 square feet in six stories and features an exterior of polished granite accents and a distinctive curved glass exterior on the north elevation. The interior offers a two-story lobby with granite flooring, 9' finished ceiling heights with extensive floor-to-ceiling glass and fully engineered HVAC with tenant controlled hours of operation. On-site amenities include a professionally equipped fitness center, complimentary corporate concierge services and a deli with wireless Internet access.</p> <p>1000 Continental was completed in the third quarter of 2007. Designed and constructed to meet LEED™ certification requirements, 1000 Continental takes advantage of breakthroughs in building science, technology and sound environmental practices to maximize and sustain a high level of building performance. The building offers tenants the ability to maximize utility efficiencies, reduce the usage of our nation’s natural resources and create an overall healthier work environment for its employees.</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 additional 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 1000 Continental, please contact: <br> Stephen M. Spaeder, Senior Vice President, 215-575-2386