YARDLEY, PA-BPG Development Co. has awarded the general construction contract for a 105,000-sf office building in Lower Makefield Corporate Center to Ambler-based EP Guidi Inc. Groundbreaking for the three-story spec building at 790 Township Line Rd. on the center’s south campus is scheduled for this August.

The south campus now contains three three-story buildings aggregating 275,000 sf. “We’re 100% leased,” Stephen M. Spaeder, president of BPG Development, tells GlobeSt.com, “and we see some emerging activity. The economy seems to be recovering and there’s been job growth.” He adds that the Bucks County properties have appealed to Philadelphia and Princeton (NJ) companies with employees who live in this area.

Spaeder says the hard construction cost of the building is $13 million. “Construction costs are increasing,” he adds and estimates, “total project costs will come close to about $200 per sf,” which would take the total to the $20-million level. Guidi was general contractor on two of the existing buildings. The architect is Philadelphia-based SPG3.

Aegis Property Group, also based in Philadelphia, is the exclusive leasing agent for the new building, which is expected to be completed in April 2006. “We’ve been speaking with a couple of potential lead tenants,” Spaeder says, “but no space is yet leased.” The asking rental rate is $27.50 per sf, plus utilities.

BPG Development is the development arm of Philadelphia-based BPG Properties Ltd., which is the operating affiliate of Berwind Property Group Ltd. BPG Properties and DeLuca Enterprises own the center, which also includes a north campus, containing three office buildings and a 137-room Hampton Inn & Suites Hotel.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.