CAMDEN, N.J.–(BUSINESS WIRE)–Oct. 9, 2014–
Campbell Soup Company (NYSE:CPB) has designated Brandywine Realty
Trust (NYSE:BDN) as the developer of the mixed use development
for Camden’s Gateway District. This designation follows the approval of
the Camden Redevelopment Agency at a meeting last night. The 13 acres
earmarked for development are located off Newton Avenue between Admiral
Wilson Boulevard and 11^th Street.

“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.
“Today marks an important step in the revitalization of Camden’s Gateway
District that will help create jobs and spur economic growth.”

Campbell, the State of New Jersey, the County and City of Camden
announced plans to develop the area adjacent to the company’s world
headquarters in February 2007 with Campbell designated as the master
redeveloper of the project. Since then, Campbell has invested more than
$132 million in expanding its headquarters, including the 2010 opening
of an 80,000-square-foot employee center and renovations to existing
buildings on its campus. As part of that effort, Campbell has acquired
several properties and prepared them for redevelopment. Under the terms
of the agreement, Brandywine will acquire the properties from Campbell
as they develop the office park for prospective users.

“We are honored to have been chosen by Campbell as the developer for the
Gateway District Development,” stated Gerard H. 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.”

Development Aided by New Jersey Economic Opportunity Act

Companies that relocate to Camden will be able to take advantage of the
Grow New Jersey program and the Garden States Growth Zones (GSGZ)
program, both part of the New Jersey Economic Opportunity Act of 2013.
Grow NJ is the state’s main job incentive program and GSGZ offers
developers and tenants in the State’s lowest income cities, including
Camden, tax incentive. The programs are intended to encourage job
creation and economic growth by establishing tax credits to encourage
businesses to stay in New Jersey. Once a company is approved, the
incentives can help fund the purchase and building of new facilities.

“We are delighted and fully support Campbell’s selection of Brandywine
Realty Trust as the developer for Camden’s Gateway District,” said Mayor
Dana L. Redd. “Brandywine’s portfolio speaks for itself. The synergy
thus far between Campbell Soup Company, Brandywine and the City of
Camden has been promising. I expect a developer of Brandywine’s caliber
to deliver a top notch project. With the incentives offered as a part of
the Economic Opportunity Act, Camden has been able to attract high
quality companies while creating jobs for our residents. We feel Camden
is once again poised to become the economic engine of the region.”

About Campbell Soup Company

Campbell (NYSE: CPB) makes real food that matters for life’s moments,
from high-quality soups and simple meals to snacks and healthy
beverages. For generations, people have trusted Campbell to provide
authentic, flavorful and readily available foods and beverages that
connect them to each other, to warm memories and to what’s important
today. Led by its iconic Campbell’s brand, the company’s
portfolio includes Pepperidge Farm, Goldfish, Bolthouse Farms, V8,
Swanson, Prego, Pace, Plum Organics, Arnott’s, Tim Tam, Royal Dansk and
Kjeldsens. Founded in 1869, Campbell has a heritage of giving
back and acting as a good steward of the planet’s natural resources. The
company is a member of the Standard & Poor’s 500 and the Dow Jones
Sustainability Indexes. For more information, visit www.campbellsoupcompany.com
and @CampbellSoupCo.

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
suburban office portfolio comprising 284 properties and 33.7 million
square feet as of June 30, 2014. For more information, please visit www.brandywinerealty.com.

Source: Campbell Soup Company and Brandywine Realty Trust

Campbell Soup Company
Thomas Hushen, 856-342-5227
or
Brandywine
Realty Trust
Marge Boccuti, 610-832-7702

Share