Press Releases

BPG PROPERTIES, LTD.'S ONE MERIDIAN BOULEVARD GAINS SECOND TENANT FROM REGIONAL ECONOMIC DEVELOPMENT INITIATIVES IN WYOMISSING, PA

<i>Adhezion Biomedical, LLC is the newest tenant to sign lease at One Meridian Boulevard capitalizing on the Greater Reading Keystone Innovation Zone Program</i> <p><b>WYOMISSING, PA. – (March 11, 2009) -</b> BPG Properties, Ltd. (BPG), one of the nation’s leading private equity fund managers, announced that Adhezion Biomedical, LLC (Adhezion) has leased 2,120 square feet at One Meridian Boulevard, a four-story, 366,148 square foot Class A office building located in Spring Ridge Corporate Center in Wyomissing, Pennsylvania. Adhezion is the second tenant at One Meridian to take advantage of the Greater Reading Keystone Innovation Zone Program (KIZ), a regional economic development program that offers tax credits and company-specific development programs to qualifying businesses. With the addition of Adhezion at One Meridian, the occupancy rate is now 88%. </p> <p>“We are thrilled Adhezion Biomedical has chosen One Meridian and is taking full advantage of the benefits of being a KIZ business,” said Michael Wynn, asset manager for BPG. “These benefits, along with One Meridian’s excellent amenities and access, make it one of the most desirable office buildings in the region for local companies looking to find new ways to develop their business.” </p> <p>Adhezion Biomedical is a privately held medical device company focused on the development and commercialization of highly differentiated cyanoacrylate based surgical, wound management and infection prevention technologies. The company has two major products, SurgiSeal Topical Skin Adhesive and FloraSeal Microbial Sealant. </p> <p>“We are excited to move into one the premier business addresses in the Reading area,” said Pete Molinaro, Chairman and Chief Executive Officer of Adhezion. “One Meridian offers us high quality office space, a convenient location near regional highways and residential communities, and provides us with the important tax incentives through the Greater Reading Keystone Innovation Zone Program.”</p> <p>The purpose of the KIZ Program is to drive high value economic development opportunities, to help with innovation and the enhancement of existing businesses, as well as the development of a tech-ready workforce through strategic partnerships between the region’s higher education institutions and the business community. To qualify, businesses must be located within one of five designated nodes in Berks County, be in existence for less than eight years, and be one of three targeted industries: Advanced Materials and Diversified Manufacturing, Professional and Shared Services or Food Processing. The KIZ in turn offers tax incentives and funding for specific company programs such as internships, employee training programs and aid in locating research/finance partners. </p> <p>The first tenant of One Meridian who qualified for KIZ was Distributed System Services, Inc., a technology solutions company who has leased more than 40,000 square feet of office and data center space in the building since 2007. </p> <p>One Meridian is located near the intersections of Route 222 and 422, providing convenient access to Interstates 76 and 476 and 176. It is in close proximity to four hotels, numerous shopping and dining establishments and the Reading Airport. On-site amenities include a full service cafe, a professionally operated fitness center, common area conference rooms, a manned security desk with after hours card key access and public transportation service. </p> <p>The site has also been fully approved for the development of a 42,600 square foot two-story office building and two bank pad sites, all of which have visibility and access from Meridian Boulevard. Additionally, there are three planned restaurant pad sites with visibility and access from Paper Mill Road.</p> <p>John Buccinno and Bryan Cole of NAI Keystone Commercial and Industrial, LLC in Reading, Pennsylvania were recently named exclusive leasing agents for the property.</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 T. Reynolds, Vice President, at (215) 575-2363<br> <br> <b>For additional information on One Meridian Boulevard, please contact:</b><br> Michael Wynn, Asset Manager, at (215) 575-2423 <br>