SAP will continue to occupy a two-story, 68,000-sf building; a three-story, 173,000-sf building, and other multi-tenant buildings on the campus. Several stone cottages on the property are also utilized by SAP for overnight accommodations.

Lyondell occupies approximately 225,000 sf of office and R&D space, and Graham Partners occupies a two-story, 26,000-sf office building. The campus contains a gymnasium and conference center, which are operated for its tenants. In all, the property is 77% leased, and more than 200,000 sf of office space is available for lease. A BPG spokesperson tells GlobeSt.com that the asking rental rates will be in the low- to mid-$20-per-sf range, full service.

The sole broker for the transaction was Dallas-based Fischer & Co. Real Estate. Terms of the sale/leaseback agreement are undisclosed. Stephen M. Spaeder, BPG's SVP in charge of the transaction, calls the campus "a well-located, quality asset" that offers "future development opportunities."

BPG is currently negotiating to sell "a large (but unspecified) portion of the developable land to Villanova University for its law school," according to Daniel M. DiLella, BPG's CEO, who is a Villanova alumnus and member of the university's dean's advisory council. In addition, BPG has targeted approximately 50% of the undeveloped land that is zoned residential for possible sale to Realen Homes LP, a Philadelphia-based residential builder in which Berwind has an ownership interest.

SAP America, a subsidiary of Waldorf, Germany-based SAP AG, is a leading global provider of business software. It employs approximately 30,000 in offices in 50 countries.

Instant Insights /

BPG Acquires Two-Thirds of SAP's 300-Acre, 16-Building Campus

Related Stories

Recommended For You