Brandywine Inks $121M Deal To Shed NJ Office Park

Law360, New York (February 1, 2013, 3:30 PM EST) -- Brandywine Realty Trust has agreed to sell an eight-building Lawrenceville, N.J., office park for $121 million in an effort to retire its existing debt, with plans to also redevelop the Philadelphia Stock Exchange building, the real estate investment trust announced Friday.

Princeton Pike Corporate Center, an 800,546-square-foot office park, will sell for $151 per square foot to an undisclosed purchaser, and Brandywine said it intends to use the net proceeds to retire its existing debt, including balances under its unsecured revolving credit facility. Also on Friday,...
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