BPG Properties, Ltd. announces 2nd quarter leases totaling approximately 62,000 sf
INDIANAPOLIS (August 11, 2006) – BPG Properties, Ltd. (“BPG”), the real estate investment manager for Berwind Property Group, Ltd. and other major institutional investors, today announced that Xerox Corp. has renewed its lease at 9100 Keystone Crossing, one of six Class-A office buildings in the 1.2-million-square-foot Keystone at the Crossing office park. Second quarter leasing activity at Keystone totaled approximately 62,000 square feet.
“We’re pleased to continue our relationship with Xerox with its lease renewal at 9100 Keystone Crossing,” said Timothy Scannell, vice president of BPG. “When prominent companies such as Xerox decide to remain at Keystone, it’s an affirmation that we are the top choice for business, and a positive reflection on our commitment to a $10 million capital improvement program including our tenant amenities center, as well as our proximity to two major shopping centers, hotels and restaurants.”
In addition to the Xerox lease, BPG, represented by John Robinson, executive vice president of Meridian Real Estate, completed new leases for Apex Benefits Group, represented by Dan Richardson of CB Richard Ellis; Bell Industries Inc., represented by Brian Askins of Equis Corp.; Miller & Fisher LLP, represented by Tim Hull of CB Richard Ellis; American Society of Clinical Pathology, represented by Scott Lindenberg of Meridian Real Estate; and Davis & Sarbinoff LLP, represented by Ralph Balber of Halakar Properties.
Hufford Financial Advisors LLC, represented by Scott Lindenberg of Meridian Real Estate, expanded its lease. Circle City Rentals LLC, represented by Adam Broderick of Meridian Real Estate, and Miller, Muller, Mendelson & Kennedy, represented by David Black of Meridian Real Estate, both renewed their leases.
An affiliate of BPG acquired five of the Keystone at the Crossing buildings in December 2005. A sixth building was acquired in April 2006, consolidating all the property’s office buildings under one owner for the first time since the buildings were constructed starting in the late 1970s. The acquisitions were made on behalf of BPG Investment Partnership VII, L.P., a $550 million equity partnership of Berwind Property Group, Ltd. and institutional co-investors.
BPG’s extensive capital improvement campaign includes the Keystone at the Crossing Amenities Center with a new 4,000-square-foot fitness center free to tenants and a new conference facility; refurbished lobbies, corridors and washrooms; brightened facades; new landscaping; upgraded energy efficiency; enhanced security; and new building monument signs.
About Keystone at the Crossing
Indianapolis’ only fully integrated office/retail/hotel/residential development, Keystone at the Crossing is located northeast of downtown at I-465 and Keystone Avenue.Dining, shopping, workout centers and hospitality are all within walking distance. At the heart of Indianapolis’ strongest submarket, Keystone at the Crossing features a mix of mid-and high-rise buildings with efficient floor plates of 20,000 square feet to 22,000 square feet, accommodating large space users while adapting to the needs of smaller tenants. The park has exceptional visibility and accessibility and includes more than 3,600 covered parking spaces and abundant surface parking.
About BPG Properties, Ltd.
BPG Properties, Ltd., the real estate investment manager for Berwind Property Group, Ltd. and other major institutional investors, is a Philadelphia-based privately held real estate investment firm. BPG’s portfolio consists of over 20 million square feet of office, retail, student housing, hotel and industrial properties and approximately 22,000 apartment units in more than 90 communities located throughout the United States. For more information, please visit the company’s Web site 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 BPG Properties, Ltd., in Chicago, please contact:
Joseph I. Neverauskas, Senior Vice President, at (312) 427-8740
For additional information on the property, please contact:
Timothy Scannell, Vice President, at (312) 673-3386
