Press Releases

BPG ANNOUNCES LEASE WITH FARMERS INSURANCE EXCHANGE AT 1000 CONTINENTAL IN KING OF PRUSSIA, PA

<p><b>King of Prussia, Pa. – (December 1, 2010)</b> – BPG Properties, Ltd., one of the nation’s leading private equity real estate fund managers, announced that Farmers Insurance Exchange (Farmers), a member of the Farmers Insurance Group of Companies, has executed a long-term lease for approximately 26,588 square feet at 1000 Continental Drive, a 200,000 square foot, Class A office building in King of Prussia, Pennsylvania. </p> <p> “Farmers is pleased to partner with BPG and open a new office in King of Prussia. The location is ideal and the facility is very professional. It will become a Farmers AgencyPoint Center,” noted Matt Dudash, King of Prussia AgencyPoint Director. AgencyPoint will serve as a recruiting and training facility for Farmers. We will open by the end of the year and will then begin to pursue individuals who are looking for a good business opportunity that will allow them to own their own Farmers Insurance agency business.” </p> <p> “The AgencyPoint opening in the King of Prussia marks the beginning of Farmers Insurance expansion into eastern states,” explained Dan Schrock, Vice President – Expansion, Farmers Eastern Market Operations. “We are excited about the future in Pennsylvania and look forward to meeting those who would like to begin a solid career with Farmers Insurance.” </p> <p>Farmers is a trade name and may refer to Farmers Group, Inc. or the Farmers Exchanges, as the case may be. Farmers Group, Inc., a management and holding company, along with its subsidiaries, is wholly owned by the Zurich Financial Services Group. The Farmers Exchanges are three reciprocal insurers (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange), including their subsidiaries and affiliates, owned by their policyholders, and managed by Farmers Group, Inc. and its subsidiaries. For more information about Farmers, visit our Web site at www.farmers.com or www.Facebook.com/FarmersInsurance . </p> <p> “We are pleased that Farmers has chosen 1000 Continental,” commented Neil Gallagher, vice president of BPG who negotiated the transaction on behalf of the owner. The landlord was represented by Jeffrey Mack, Neil Brazitis and Adam Shute of Newmark Knight Frank Smith Mack. Farmers was represented by Peter Strickler of UGL Equis. </p> <p>1000 Continental is conveniently located at the highly traveled intersection of Routes 202, 422 and Interstate 76 in King of Prussia. The six story building offers landmark visibility and superior access to the region's major highways, retail and dining centers and far reaching suburban labor pool. It is the only new building in the market that has been awarded LEED™ Silver certification by the USGBC. Additional features include an exterior of polished granite accents and a distinctive curved glass exterior on the north elevation, a two-story lobby with granite flooring, 9' finished ceiling heights with extensive floor-to-ceiling glass, fully engineered HVAC with tenant controlled hours of operation. On-site amenities consist of a professionally equipped fitness center, complimentary corporate concierge services and a deli with wireless Internet access. </p> <p>Presently, there is approximately 63,000 square feet available for lease. Suites ranging in size from 3,000 square feet to 17,977 square feet are now available in move-in condition.</p> <b>About BPG Properties, Ltd.</b><br> BPG Properties, Ltd. is one of the nation’s leading private equity real estate fund managers. BPG’s portfolio consists of over 25 million square feet of office, retail, student housing, and industrial properties and more than 24,000 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.<p> <b>For additional information on BPG Properties, Ltd., please contact: </b><br> Joseph G. Nahas, Jr., Vice President, 215-575-2363<p> <b>For additional information on 1000 Continental, please contact: </b><br> Stephen M. Spaeder, Senior Vice President, 215-575-2386