"Our acquisitions in New Jersey are representative of ourbalanced, value-added investment strategy," according to Arthur P.Pasquarella, BPG's COO. "These transactions include office, lab andindustrial properties requiring re-leasing and/or redevelopment,and two of the three offer new development opportunities."

The largest of the assets just acquired is 330-350 Carter Rd., a300,000-sf corporate campus here. The identity of the seller wasnot disclosed. The existing buildings include a recently renovated,76,000-sf research and lab facility leased to LexiconPharmaceuticals, a 200,000-sf former office/research facility and a25,000-sf office building. The site has a build-out capability ofanother 500,000 sf.

The 200,000-sf building at the Princeton campus, currentlyvacant, is being revamped by BPG, according to Christopher J.Locatell, vice president of BPG, who negotiated all threeacquisitions. NAI Fennelly of Hamilton, NJ has been appointedleasing agent for the property, and BPG Management Services willmanage it.