BPG Properties on the Rise
By Melinda Richards, Business Development Associate

Building and leasing new construction are on the rise for BPG Properties. This year, their premier property in West Conshohocken, 300 Four Falls, has reached 93% occupancy. Built in 2003, it has attracted many firms in the financial and insurance industries. Meyer Design, Inc. has assisted BPG with many tenant assignments, including the fit out of office spaces for The Judge Group, ECBM, GCA, Jacoby, Prudential Financial, BPG Management Services, Center Bridge Group, Mercer Global Advisors, American Capital, John Templeton Foundation, Takeda, TIFF, Rosemont Partners, Templeton Press and EMC, representing a total of approximately 192,500 square feet. According to Meyer Senior Designer, Delta Rubsamen, the building has leased quickly due to its numerous positive and attractive features. Highlights include: convenient location, great views of the river, fast-track quality construction by EP Guidi (who completed the fit-out for most suites), amenities like the fitness center and deli (also designed by Meyer), and most importantly great professional and friendly service from the leasing agent (formerly Neil Gallagher and now Larry Maister from Trammell Crow), construction manager Bob Riviezzo of BPG, and property manager Natalie Kidd. BPG is hoping to continue the success it has had with 300 Four Falls by getting a top notch sale price for it by the end of this year.

Another exciting milestone that BPG Properties and other major developers are hitting upon is the reemergence of building on speculation. For the last 3 or 4 years most developers in the Philadelphia area have played it safe, breaking ground only after a building has been 50% pre-leased. On August 1, BPG Properties began construction on an $18 million 105,000 square foot building in Yardley, PA. It's a 3 story building on the South Campus of Lower Makefield Corporate Center. When construction started, no leases had been signed for this building. However the direction of the market and the great location of the building gave the developer the confidence to go ahead and break ground. Another development, Continental Plaza in King of Prussia, is slated be built on spec before the end of 2005. This six-story 200,000 square foot building is expected to be a $38 million dollar project.