Campbell Soup Co. announced this week that it had selected Brandywine Realty Trust, the PA-based REIT, as the developer of the mixed use development for Camden's Gateway District. The designation follows the approval of the Camden Redevelopment Agency, which gave the greenlight to develop the new complex on 13 acres located off Newton Avenue between Admiral Wilson Boulevard and 11th Street in Camden, NJ. Under the terms of the agreement, Brandywine will acquire several properties that Campbell has acquired and prepared them for redevelopment. Full terms of the deal were not disclosed.
"Brandywine is a perfect fit for this project. Brandywine has consistently demonstrated a clear focus on high-quality, well-designed urban development and their experience will be an important catalyst to establishing the Gateway District as a sought after business center," said Richard Landers, Campbell's Vice President of Tax and Real Estate. at Campbell Soup Co. in a statement. "Today marks an important step in the revitalization of Camden's Gateway District that will help create jobs and spur economic growth."
"We are honored to have been chosen by Campbell as the developer for the Gateway District Development," added Gerard Sweeney, President and Chief Executive Officer of Brandywine Realty Trust. "The Gateway District Development, adjacent to the internationally renowned Campbell Soup Company, will be an important component in revitalizing the city of Camden and the opportunity is consistent with Brandywine's philosophy of developing multi-modal, office and mixed-use, town center developments of consequence. "
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment