Brandywine Realty Trust Announces Full Lease-Up at 250 Radnor with 119,000-Square-Foot Lease to Global Industrial Leader
Rhea-AI Summary
Brandywine Realty Trust (NYSE: BDN) has announced a 119,000-square-foot lease with a global industrial solutions leader at 250 Radnor, achieving 100% occupancy. The 168,000-square-foot building, converted from a medical office to a state-of-the-art lab facility, hosts tenants including West Pharmaceutical, Quanta Therapeutics, and Penn Medicine. Located within the 26.6-acre Radnor Life Science Center, the property features extensive amenities and is part of a mixed-use, transit-oriented campus. The campus also includes 155 Radnor, a 145,000-square-foot office building fully leased to Arkema S.A., set to welcome employees this fall.
Positive
- Achieved 100% occupancy at 250 Radnor with new 119,000-square-foot lease
- Successfully converted medical office building into high-demand lab space
- Secured high-profile tenants including West Pharmaceutical, Quanta Therapeutics, and Penn Medicine
- 155 Radnor building fully leased to Arkema S.A.
Negative
- None.
News Market Reaction – BDN
In the trading session that priced this news, BDN declined 0.38%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
PHILADELPHIA, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE: BDN) today announced the execution of a 119,000-square-foot lease with a global leader in industrial solutions at 250 Radnor, bringing the building to
250 Radnor, a 168,000-square-foot adaptive reuse project, transformed an existing medical office building into a state-of-the-art facility designed to fully accommodate lab tenants. Current tenants include West Pharmaceutical, Quanta Therapeutics, and Penn Medicine, reflecting the growing demand for cutting-edge lab and research space in Radnor.
Situated within the Radnor Life Science Center, a 26.6-acre mixed-use, transit-oriented campus, 250 Radnor exemplifies Brandywine Realty Trust's commitment to sustainable and innovative development. The Radnor Life Science Center features world-class amenities, including gardens, trails, 250 newly planted trees, wildflower meadows, two courtyards, and a pavilion, seamlessly integrated into the natural environment. Additionally, the campus is home to Penn Medicine's state-of-the-art medical facility and 155 Radnor, which serves as Arkema's North American headquarters.
Recent updates to the campus include the completion of the 145,000-square-foot office building at 155 Radnor, which is fully leased to Arkema S.A., a global supplier of specialty materials. The building is set to welcome employees this fall, marking another significant step forward in the development of Radnor Life Science Center.
"As we continue to establish Radnor Life Science Center as a vibrant hub for innovation, the full lease-up of 250 Radnor represents a major achievement in our development leasing," said Jeff DeVuono, Executive Vice President, Life Sciences, at Brandywine Realty Trust. "We are proud to deliver top-tier lab pace in a thoughtfully designed, sustainable environment that supports our tenants' missions and further demonstrates our progress in diversifying our revenue through the establishment of innovation hubs across our platform."
To learn more about Radnor Life Science Center and Brandywine Realty Trust, visit www.brandywinerealty.com.
About Brandywine Realty Trust
Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in the Philadelphia and Austin markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 147 properties and 21.1 million square feet as of September 30, 2024. Our purpose is to shape, connect and inspire the world around us through our expertise, the relationships we foster, the communities in which we live and work, and the history we build together. For more information, please visit www.brandywinerealty.com.
Company / Investor Contact:
Tom Wirth
EVP & CFO
610-832-7434
tom.wirth@bdnreit.com
