RADNOR, Pa., Dec. 8, 2011 /PRNewswire/ --Brandywine Realty Trust (NYSE: BDN) announced today that it has executed five additional leases totaling 224,426 square feet at Three Logan Square in Philadelphia, PA. Three leases representing 178,279 square feet are for new tenants, while the other two are for existing tenants who renewed their leases. The execution of these transactions, together with previously announced leases totaling 237,810 square feet brings Three Logan Square to 88% leased overall.
"We are extremely pleased with the 2011 leasing activity at Three Logan Square," stated Gerard H. Sweeney, President and Chief Executive Officer of Brandywine Realty Trust. "Just as importantly, our leasing pipeline continues to be very strong with several additional transactions in advanced stages of negotiation."
The two largest tenants in the building will now be:
- Reed Smith LLP with 115,000 square feet (not previously announced)
- Janney Montgomery Scott with 146,321 square feet (previously announced on July 26, 2011)
Reed Smith was represented by Josh Sloan and Ron Cariola of Jones Lang LaSalle and Brandywine Realty Trust was represented internally by Steve Rush. Reed Smith is a global relationship law firm with more than 1,600 lawyers in 23 offices throughout the United States, Europe, Asia and the Middle East. Additional information on Reed Smith LLP can be found at www.reedsmith.com.
About Brandywine Realty Trust
Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real estate companies in the United States. Organized as a real estate investment trust and operating in select markets, Brandywine owns, develops, manages and has ownership interests in a primarily Class A, suburban and urban office portfolio comprising 307 properties and 35.1 million square feet, including 234 properties and 25.6 million square feet owned on a consolidated basis and 50 properties and 6.1 million square feet in 16 unconsolidated real estate ventures. For more information, please visit www.brandywinerealty.com.
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of the Company and its affiliates or industry results to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors relate to, among others, the Company's ability to lease vacant space and to renew or relet space under expiring leases at expected levels, the potential loss of major tenants, interest rate levels, the availability and terms of debt and equity financing, competition with other real estate companies for tenants and acquisitions, risks of real estate acquisitions, dispositions and developments, including cost overruns and construction delays, unanticipated operating costs and the effects of general and local economic and real estate conditions. Additional information or factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
SOURCE Brandywine Realty Trust
