WYETH PHARMACEUTICALS

The Wyeth/ BPG partnership is a valued relationship within BPG Properties. In 2003 Wyeth called upon BPG to solve a critical shortage of office space within a crucial time frame. BPG is proud to have designed, developed and delivered 183,363 square feet of class A Build-to-Suit space for Wyeth in a period of only twelve months. By offering the ability to deliver high quality facilities at Wyeth’s Headquarters Campus in Collegeville, PA, BPG Properties continues to provide Wyeth with the flexibility to expand and contract its operations as business needs require. By leasing office space as opposed to developing and owning it directly, Wyeth achieves its expansion requirements while avoiding any impact on capital reserves which remain available for use in its core business. The photographs on the following pages offer a graphic timeline of the projects completed by BPG on behalf of Wyeth to date. In addition, the case study that follows offers an insight to strategies employed to reach our joint goals on time and on budget.

BPG Development delivered Highview I and II, totaling 183,363 square feet, to Wyeth Pharmaceuticals under a ten year build-to-suit lease transaction during the second quarter 2003. The three and four story Class A office buildings are situated within Providence Corporate Center near the intersection of Route 29 and 422 in Collegeville, Pennsylvania. Construction was completed in just nine months and within one year of lease execution despite the unusually harsh winter conditions and compressed timeframe. The firm fostered an environment for team work by managing the flow of information between the architect, engineer, general contractor and Wyeth’s project manager and created an atmosphere in which critical decisions could be made quickly and efficiently. In order to streamline the construction, BPG Development preordered steel and brick panel fabrication for the building’s envelope. The brick panels were manufactured at the same time as the structural steel so that both were ready for delivery to the site within three months of when construction commenced in July 2002. In April 2003, Highview I, a three-story 78,000 square foot building, was delivered to Wyeth. Delivery of Highivew II, a four-story 105,000 square foot building, followed in June. Reflecting on the project, Patrick Branin, assistant vice president of real estate for Wyeth, commented, “This was a fast track project that required maximum coordination and efficiency of execution between Wyeth and BPG to meet the target date for occupancy. It was a pleasure to work with Steve Spaeder and Steve Shanahan of BPG throughout the whole process inclusive of lease negotiation, base building design revisions to accommodate Wyeth, and tenant fit-out design and construction. BPG delivered two Class-A quality buildings that are now an integral part of the Wyeth Pharmaceuticals headquarters site in Collegeville, Pennsylvania.”