AUSTIN, Texas, Aug. 4, 2015 /PRNewswire/ -- Brandywine Realty Trust (NYSE: BDN) has acquired the remaining interest in the Broadmoor campus located at 11501 Burnet Road. The acquisition provides full ownership of the seven-building, 66-acre, 1.1 million square foot office campus located directly adjacent to The Domain® in the heart of a thriving northwest corridor at the nexus of MoPac, U.S. Highway 183 and Loop 360.
The Broadmoor campus was developed for IBM, which has been the sole-occupant and a joint venture partner with Brandywine and its predecessor company since the campus was developed in 1991. Brandywine has started developing a master plan to ensure an accelerated transition to a mixed-use, multi-tenant destination that will offer a variety of new amenities for workers in and around the campus.
"Our master planning and capital investment efforts will reflect not only the repositioning that is taking place in Austin, but also our own platinum standards for delivering exceptional customer service and a quality, thoughtful development that builds on the expanding success of the Northwest Austin market," said Bill Redd, Brandywine's Executive Vice President & Senior Managing Director for Austin. "We're also excited to explore the many possibilities associated with redeveloping this campus to create one of the highest-quality, mixed-use projects in greater Austin."
Brandywine has also launched the marketing campaign for two established buildings that will be available for lease by April 2016, providing 345,000 square feet of quality office space for Austin's new and expanding businesses.
Brandywine is one of the largest commercial landowners and developers in Austin with a total of more than 3.8 million square feet of class-A office space among more than 30 buildings on nine campuses. In addition to the Broadmoor campus, Brandywine is currently in various levels of development with four other properties: Encino Trace and the Garza Tract, both in southwest Austin; Four Points in northwest Austin; and at the corner of Fourth and Colorado streets in downtown Austin.
About Brandywine Realty Trust: Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real estate companies in the United States. Organized as a real estate investment trust and operating in select markets, Brandywine owns, leases and manages an urban, town center and transit-oriented office portfolio comprising 281 properties and 33.2 million square feet as of June 30, 2015. For more information, please visit www.brandywinerealty.com.
SOURCE Brandywine Realty Trust