Press Releases

BPG PROPERTIES, LTD. ANNOUNCES 10,788 SF LEASE EXPANSION WITH VERIZON AT 121 GREENTREE ROAD IN OAKS, PENNSYLVANIA

<p><b>PHILADELPHIA, PA - (March 17, 2009) – </b>BPG Properties, Ltd. (BPG), one of the nation’s leading private equity fund managers, announced today the execution of a 10,788 square foot lease with Verizon Pennsylvania, Inc. (Verizon) at 121 Greentree Road, a 57,600 square foot warehouse/flex building, located in Oaks, Pennsylvania. This lease transaction represented an expansion of the original lease that was completed with Verizon in 2007 for more than 38,000 square feet, increasing the building’s occupancy rate to 85%. The landlord was represented in the transaction by the property’s exclusive leasing agents, Len Redeyoff and Bill Goodwin of CB Richard’s Ellis Philadelphia office. </p> <p>121 Greentree Road is a single-story, red brick warehouse/flex building developed by BPG in 2005. The building offers 24’ clear ceiling heights, up to 18 loading docks, 40’ x 40’ bays, individual tenant entrances with signage opportunities, designated car and truck entrances, store front window system and excellent accessibility via the Oaks exit of Route 422. Currently, there are 8,500 square feet of space available at the property.</p> <p>The building is located adjacent to a Bright Horizon daycare facility, developed by BPG in 2007, and a fully approved, pad site for the development of a 28,000 square foot, single-story professional building along Egypt Road. The site is being marketed for sale or lease by Dave McFadden and Mike Sweeney of NAI Geis Realty Group, Inc.</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 www.bpgltd.com.<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 121 Greentree, please contact:</b><br> Stephen M. Spaeder, Senior Vice President, 215-575-2386<br>