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Brandywine Announces 79,314 Square Feet of New Leases in The Park on Barton Creek in Austin, Texas

RADNOR, Pa., March 17 /PRNewswire-FirstCall/ -- Brandywine Realty Trust (NYSE: BDN) announced today that it has executed two lease transactions totaling 79,314 square feet in The Park at Barton Creek in Austin, Texas, bringing this 205,195 square foot office project to 78% leased.

The Park on Barton Creek is a recently completed, ground-up development comprising two, five-story, office buildings plus structured parking. The Park on Barton Creek complements Brandywine's nearby Barton Skyway project, an 844,000 square foot, four-building office property, which is approximately 98% occupied.

The two new leases are:

  • A 42,527 square foot lease with Advanced RISC Machines (ARM), a chip design and software development company based in the United Kingdom.
  • A 36,787 square foot lease with SolarWinds.net, a network software development company located in Austin, Texas. SolarWinds.net is an existing tenant in The Park on Barton Creek and will now fully occupy one entire building with a total of 102,587 square feet.

"These tenants reflect the quality of our Austin, Texas office portfolio," stated Bill Redd, Senior Vice President and Managing Director of Brandywine Realty Trust. "With these new leases, we are well on our way to achieving our 2009 Austin leasing goals."

About Brandywine Realty Trust

Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real estate companies in the United States. Organized as a real estate investment trust and operating in select markets, Brandywine owns, develops and manages a primarily Class A, suburban and urban office portfolio aggregating approximately 37.9 million square feet, including 26.2 million square feet which it owns on a consolidated basis. For more information, visit our website at www.brandywinerealty.com.

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of the Company and its affiliates or industry results to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors relate to, among others, the Company's ability to lease vacant space and to renew or relet space under expiring leases at expected levels, the potential loss of major tenants, interest rate levels, the availability and terms of debt and equity financing, competition with other real estate companies for tenants and acquisitions, risks of real estate acquisitions, dispositions and developments, including cost overruns and construction delays, unanticipated operating costs and the effects of general and local economic and real estate conditions. Additional information or factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

SOURCE Brandywine Realty Trust

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