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Brandywine Executes 195,000 Square Foot Lease With Time Warner Cable Inc. in Metro DC Office Development RADNOR, PA--(MARKET WIRE)--Jul 23, 2008 -- Brandywine Realty Trust (NYSE:BDN - News) announced
today that it has executed a 10-year lease transaction with
Time Warner
Cable Inc. for 195,000 square feet in South Lake at Dulles
Corner, a
268,240 square foot office building in Herndon, Virginia,
a suburban office
market in metropolitan Washington, DC. Time Warner Cable
Inc. will
relocate from several non-Brandywine locations in the Herndon
area and will
occupy the South Lake building between April and August
of 2009. The Time
Warner Cable lease brings South Lake at Dulles Corner to
73% leased and is
one of the largest transactions ever completed in the Herndon
market.
"We are pleased that Time Warner Cable has recognized and validated the superior characteristics of South Lake at Dulles Corner," stated Robert Wiberg, Executive Vice President and Senior Managing Director of Brandywine Realty Trust. "We recognize that Time Warner Cable had other options and appreciate their endorsement and support of our project." Time Warner Cable Inc. was represented by Meredith LaPier and Brad Davis of CBRE's Northern Virginia office. Brandywine was represented by Rob Faktorow, Terry Reiley, and Dan Falls also of CBRE, working in tandem with Janet Davis and Mike Cooper, both senior vice presidents at Brandywine. 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 and manages a primarily Class A, suburban and urban office portfolio aggregating approximately 40 million square feet, including 29 million square feet which it owns on a consolidated basis. For more information, visit our website at 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. Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=803154 Contact: Investor/Press Contact:
Marge Boccuti
Manager, Investor Relations
Brandywine Realty Trust
610-832-7702
marge.boccuti@bdnreit.com
Company Contact:
Howard M. Sipzner
EVP & CFO
Brandywine Realty Trust
610-832-4907
howard.sipzner@bdnreit.com
Source: Brandywine Realty Trust
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