Cushman & Wakefield of Pennsylvania Named as Listing Agent for 87-Acre R&D/Manufacturing Facility
Philadelphia, Pa. (Vocus) September 8, 2009 -- BPG Properties, Ltd. (BPG), one of the nation's leading private equity fund managers, has announced that 2750 Morris Road, a 705,000 square foot highly specialized research and development/manufacturing facility in Lansdale, Pennsylvania is available for purchase. The 87-acre property is located less than five miles from the Lansdale interchange of the Northeast Extension of the Pennsylvania Turnpike (Interstate 476) in Montgomery County. The Greater Philadelphia region including Montgomery County is home to a significant number of top employers in the life sciences, pharmaceutical and biotechnology industries. In fact, 18 of the top 51 private sector employers in the region are life science companies.
"2750 Morris Road is a first class facility that offers significant infrastructure, ideal zoning classification, enhanced building systems and features," commented Joseph Nahas, vice president of BPG who is overseeing the sale of the property. "The extensive features of this state of the art manufacturing facility, combined with its location in what is one of the strongest life science regions in the United States make it ideal for research, manufacturing or distribution companies looking to expand or establish a presence in the area."
Situated adjacent to the Northeast Extension of the Pennsylvania Turnpike, 2750 Morris Road offers convenient access to the region's highly skilled workforce, residential communities and business centers via the Pennsylvania Turnpike and Routes 202 and 309. Road improvements to the Pennsylvania Turnpike have been planned and are already in process which will greatly enhance access to and from the property and the surrounding area. The property offers a secure campus setting enclosed behind a 15' berm with extensive landscaping on the perimeter and two gated entrances along Schultz and Morris Roads.
2750 Morris Road is comprised of five interconnecting buildings which include office, administrative, engineering, manufacturing and production space. This design allows for flexible occupancy scenarios which includes the ability to subdivide the building into spaces as small as 45,000 square feet and as large as 450,000 square feet
Electrical and mechanical systems at 2750 Morris Road are enhanced due to the building's original design for electronics manufacturing and include an HVAC chilled water system with 3200 tons of cooling capacity and a Class 10,000 clean room. A separate detached pump station services the site and houses five generators that are capable of supporting the entire facility and providing the transfer of continuous power without interruption.
The facility was designed and built in 1989 for Ford Electronics and Refrigeration. To date, it has been the regional manufacturing facility for the Visteon Corporation (Visteon), a global leader in the design and manufacturing of electronic control modules for the automotive industry. Visteon is moving its operations overseas and will be vacating the property as of the first quarter 2010.
BPG has named John Shelly and Gina Brennan of Cushman & Wakefield of Pennsylvania, Inc. as the sales and listing agents for the property.
About BPG Properties, Ltd.
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.
For additional information on BPG Properties, Ltd., please contact:
Holly T. Reynolds, Vice President, at (215) 575-2363
For additional information on the property, please contact:
Joseph Nahas, Vice President, at (215) 575-2356
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