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NEWS RELEASE CONTACT: Technology Firms Lease at Grosvenor's bwtech@UMBC Research Park in Baltimore County, MDOne Third of New 60,000 SF Building is Leased
BALTIMORE COUNTY , MD , November 10, 2004 — International property developer Grosvenor today announced new leases totaling 18,400 square feet at its newly completed 60,000 square foot Class A office/lab building at bwtech@UMBC Research and Technology Park (bwtech@UMBC), located adjacent to the University of Maryland/Baltimore County campus in Baltimore County , MD. Most of the new tenants are involved in technology development or support of technology entrepreneurship. One is an entrepreneurial “graduate” of techcenter@UMBC, UMBC's technology research “incubator.” Three new leases account a full floor in the three-story building at 5523 Research Park Drive . This is the second building within the 41-acre research park to be completed by Grosvenor. The first, a 62,000 square foot structure at 5521 Research Park Drive , delivered in 2001 and is now occupied by RWD Technologies. bwtech@UMBC has a total development capacity of up to 330,000 square feet of office and laboratory space. David Gillece and Andrew Smith of Colliers Pinkard are representing Grosvenor in leasing the building. “These new leases demonstrate that bwtech@UMBC provides the perfect Maryland location for growing technology enterprises,” remarked Andrew Galbraith, Senior Vice President, Grosvenor. “Tenants benefit from close synergy with the university, enjoying access to UMBC's expertise, students, technology, programs, and facilities. In addition, they enjoy a great location that is just minutes from I-95, BWI Airport , and Amtrak.” Businesses moving to the research park, which is part of Maryland 's Southwest Enterprise Zone, may receive tax incentives in exchange for creating new jobs and making capital investments, Galbraith added. BDMetrics, Inc. (www.bdmetrics.com) is relocating from techcenter@UMBC to approximately 7,000 square feet in the new Grosvenor building. The firm provides software and services to aid technology companies with business development. A second lease with UMBC provides approximately 8,400 square feet of space for seven different public and private organizations, all of which are involved with technology. Over half of this space will house two organizations operating under cooperative agreements between NASA Goddard Space Flight Center and UMBC. Both are moving from techcenter@UMBC . Goddard Earth Science and Technology Center is a consortium of three universities and two private companies that promotes research in earth science and information science. The Joint Center for Earth Systems Technology develops new technology in environmental remote sensing and encourages teaching of earth science. A combination of four UMBC offices -- the UMBC Office of Technology Development, the Alex. Brown Center for Entrepreneurship, the UMBC Research Park Corporation, and the UMBC Entrepreneur-in-Residence program – will occupy the other half of the 8,400 square foot space. Along with the UMBC Center for Women and Information Technology, these four groups will implement a new technology commercialization program funded by a $600,000 grant from the National Science Foundation. The program is called Achieving Commercialization of Technology in Ventures through Applied Training for Entrepreneurs, or ACTiVATE. Sharing the UMBC offices will be SPI USA (www.usa.spi.pt), an international technology consulting firm that is relocating from Columbia , MD. The company offers a range of services including training and consulting, strategic business plans, R&D partnerships, R&D project management, technology transfer, and international entrepreneurship. The National Association of Educational Buyers Inc. (www.naeb.org) has leased the remaining 3,000 square feet on the floor. This professional association serves colleges and universities nationwide, advocating development and practice of effective and ethical procurement practices. “The mix of new tenants at bwtech@UMBC represents the variety of entrepreneurial companies and organizations that will benefit from this unique research and development park,” stated David S. Iannucci, Executive Director for the Baltimore County Department of Economic Development. “The park is a tremendous asset to the Baltimore region's thriving technology community.” Grosvenor (www.grosvenor.com) is a privately owned property development and investment group that has been active in North America for 50 years. Grosvenor's properties span metropolitan areas throughout the United States and Canada . The Company is an integral part of Grosvenor Group Holdings Limited, an international property group with operating companies in the Americas , Britain and Ireland , Continental Europe and the Australia , Asia Pacific Region. ### GROSVENOR 1701 PENNSYLVANIA AVENUE NW, SUITE 1050 , WASHINGTON , D.C. 20006 Telephone (202) 293-1235 Facsimile (202) 785-2632 Web www.grosvenor.com
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