Langer, Inc. Leases 5,000 SF at Continental Business Center Langer, Inc. Leases 5,000 SF at Continental Business Center

Langer, Inc. Leases 5,000 SF at Continental Business Center Langer, Inc. Leases 5,000 SF at Continental Business Center

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KING OF PRUSSIA, PA — Langer, Inc., a designer and manufacturer of medical products headquartered in Deer Park, NY, (Nasdaq GAIT), has leased approximately 5,500 square feet of Class A office space at the Continental Business Center, 1006 West 9th Avenue here.

Fred Goebert, vice president of RedGo Development, the building owner, announced the long-term agreement that will establish the first office of Langer, Inc. within the Philadelphia metropolitan area.

Aggregate rental of the lease exceeds $500,000.

Langer is a designer, manufacturer and distributor of medical products and services that target the long-term care, orthopedic, orthotic and prosthetic markets. Through wholly owned subsidiaries Twincraft, Inc., and Silipos, Inc., the company also offers a line of personal care products for the private label retail, medical and therapeutic markets.

Langer offers its line of more than 500 products to patients living in the United States, Canada and in over 30 other countries, as well as to national, regional and international distributors, plus to healthcare professionals and directly to end-users where the Company is also providing product fitting services.

According to Goebert, the Langer lease is the third agreement to be signed this year for the 23,500 square foot, one-story building following RedGo’s investment of some $300,000 in capital improvements to 1006 West 9th Avenue and over $1 million to the buildings it owns in the New Continental Plaza complex.

Previous leases include some 6,000 square feet that is now occupied by the Cambridge Integrated Services Group and 8,500 square feet soon to be the new offices of Jackson Cross Partners.

Capital improvements completed at Continental Plaza by RedGo Development include the installation of new energy efficient, tenant-controlled HVAC systems, new cedar siding and insulated ribbon glass that provides 8’ panoramic views of the building’s surrounding site.

Beyond those operating and visual enhancements, RedGo installed a new roof and created new building entry points with lobbies featuring quarry stone flooring.

“We are pleased this investment favorably influenced Langer’s selection of 1006 West 9th Avenue for its first office in the Delaware Valley. With the strong interest shown by prospects for this first re-development initiative, the complex is now 87 percent occupied,” said Goebert.

Leading a private real estate investment partnership, RedGo Development acquired five buildings aggregating approximately 105,000 square feet of class B space within the nine-building Continental Business Center in 2005 and commenced the re-development of selected structures into class A flex/office space.

In addition to Langer, Inc., other tenants located in RedGo owned buildings at Continental Business Center include Cambridge Integrated Services Group, Jackson Cross Partners, the Fibromyalia and Fatigue Centers, Great Lakes Laboratories, Bayada Nurses and First Cornerstone Bank.

The latest multi-year space contract was negotiated by Steve Compton of Beacon Commercial Real Estate in Conshohocken, Pa., who represented Langer in finalizing the terms of the agreement.

For more information, Contact: Fred Goebert (610) 436-6100, Ext. 17.

615 Willowbrook Ln, West Chester PA 19382 Phone: 610.436.6100 Fax: 610.436.1186