Quickly after the purchase, BPG leased the entire facility to locally based Animus Corp., a maker of high-tech medical devices, for a 10-year term. Stephen M. Spaeder, SVP of BPG, was responsible for the acquisition and subsequent lease with Animus. The building was acquired on behalf of BPG VI, a $384-million private equity fund, sponsored by the privately held real estate investment firm.
The property was completed in 1997 and includes approximately 46,000 sf of office space, 15,000 sf of production and lab space, and about 50,000 sf of warehouse area with seven loading docks and a drive-in door. The site allows for expansion of up to 50,000 sf.
A BPG spokesperson declined to disclose the identity of the current buyer, and Spaeder referred to the buyer only as "a growing company that would benefit from [the property's] highly improved office and production space with expansion opportunities." The Philadelphia-area office of Cushman & Wakefield represented BPG in the sale transaction.
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