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Brandywine Realty Buys $96M Office Park

RICHMOND, VA-A privately owned real estate firm sells the 500,000 sf office park, which is 95% leased.

By Erika Morphy | Updated on July 31, 2007

RICHMOND, VA-Radnor, PA-based Brandywine Realty Trust has added to its local holdings with a newly acquired office portfolio that it purchased for $96.3 million. It acquired the portfolio for cash from SugarOak Properties, a private real estate firm based in Herndon, that owns properties throughout the Southeast.

Called the Boulders Office Park, the portfolio is a five-building, class A complex totaling 508,607 sf. It is 95% leased, anchored by Hospital Corporation of America, which has agreed to renew 120,000 sf of space for an 11-year term. Other tenants in the park include Sentry Insurance, Swedish Match, Cigna Healthcare and Nationwide Mutual Insurance.

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