The Company is actively engaged in development projects in the Suburban Philadelphia and in Atlanta, Georgia. These projects are:
Valley Creek Corporate Center is a first-class corporate office campus. The approximately 200-acre site is located on Swedesford Road at the Lancaster Avenue (Route 30)/Route 202 interchange in West Whiteland Township, Chester County, Pennsylvania, approximately 25 miles west of Center City Philadelphia. Site plans call for the construction of five phases each of approximately 250,000 to 500,000 rentable square feet. Typical phases will consist of clusters of 3, 4 and 5 story buildings. Phase I comprised of 3 buildings, completed construction in April of 2002.
Capital City Plaza is strategically located in the heart of Buckhead, Atlanta on Peachtree Road, which is the high profile secondary transportation artery for “in-town” Atlanta. Adjacent to a recently completed MARTA station, the project is accessible by way of mass transit as well as Peachtree Road and the new Buckhead Loop. The Company controls the development rights to the site adjacent to One Capital City Plaza and intends to develop it as Phase II. The scheduled development is contemplated to be in excess of 1,000,000 square foot.
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