2014

Liberty Property Trust Completes Sale of Office and High-finish Flex Portfolio 49 assets sold in five markets

MALVERN, Pa., April 3, 2012 /PRNewswire/ -- Liberty Property Trust (NYSE: LRY) today announced that it has completed its anticipated sale of 49 properties totaling 2.5 million square feet of space in Wisconsin, Maryland, Virginia, North Carolina and New Jersey for approximately $195 million.  The properties consist primarily of single-story and mid-rise office buildings and high-finish flex properties. The properties were 83% leased when the transaction closed on April 3, 2012.

"The completion of this sale furthers Liberty's strategic plan to decrease our exposure to the suburban office market, while increasing our industrial concentrations," said Mike Hagan, executive vice president and chief investment officer. "In the last 10 months we have completely exited the suburban office market in Milwaukee, Richmond, and Greensboro, and we have significantly decreased our office portfolio in New Jersey."

About Liberty Property Trust
Liberty Property Trust, headquartered in Malvern, PA, is dedicated to enhancing people's lives through extraordinary work environments. The real estate investment trust (REIT) serves customers in the United States and United Kingdom through the development, acquisition, ownership and management of superior office and industrial properties. Liberty's 77 million square foot portfolio offers exceptional locations and flexible design to 1,700 tenants in more than 600 properties. The company is a leader in the development of high performance green buildings. For more information please visit www.libertyproperty.com.

Addendum: List of Properties Sold

Property Name and Location

Business Park

Type

 Square Feet 

7800 N. 113th Street, Milwaukee, WI

Liberty at Park Place

Office

80,569

11950 W. Lake Park Drive, Milwaukee, WI

Liberty at Park Place

Office

35,749

11400 W. Lake Park Drive, Milwaukee, WI

Liberty at Park Place

Flex

36,545

11425 W. Lake Park Drive, Milwaukee, WI

Liberty at Park Place

Flex

35,817

11301 W. Lake Park Drive, Milwaukee, WI

Liberty at Park Place

Flex

40,020

11900 W. Lake Park Drive, Milwaukee, WI

Liberty at Park Place

Flex

36,522

11414 West Park Place, Milwaukee, WI

Liberty at Park Place

Office

86,723

12100 West Park Place, Milwaukee, WI

Liberty at Park Place

Flex

56,293

11100 West Liberty Drive, Milwaukee, WI

Liberty at Park Place

Office

88,259

11020 West Plank Court, Milwaukee, WI

Tosa Business Park

Office

49,061

11300-90 West Theodore Trecker, West Allis, WI

Liberty Point

Flex

39,927

11548 West Theodore Trecker, West Allis, WI

Liberty Point

Flex

51,292

11420 West Theodore Trecker, West Allis, WI

Liberty Point

Flex

25,000

20935 Swenson Drive, Brookfield, WI

Crossroads Corporate Center

Office

71,276

20975 Swenson Drive, Brookfield, WI

Crossroads Corporate Center

Office

71,200

20825 Swenson Drive, Brookfield, WI

Crossroads Corporate Center

Office

39,729

10050 S. 27th Street, Oak Creek, WI

Corporate Preserve

Office

44,160

2440 W. Corporate Preserve Dr., Oak Creek, WI

Corporate Preserve

Flex

68,700

4050 Piedmont Parkway, High Point, NC

Mendenhall Business Park

Office

220,562

4135 Mendenhall Oaks Parkway, High Point, NC

Mendenhall Business Park

Office

33,758

4100 Mendenhall Oaks Parkway, High Point, NC

Mendenhall Business Park

Office

55,250

4015 Meeting Way, High Point, NC

Mendenhall Business Park

Office

30,844

4194 Mendenhall Oaks Parkway, High Point, NC

Mendenhall Business Park

Office

26,752

4196 Mendenhall Oaks Parkway, High Point, NC

Mendenhall Business Park

Office

19,647

4020 Meeting Way, High Point, NC

Mendenhall Business Park

Office

15,000

4008 Mendenhall Oaks Parkway, High Point, NC

Mendenhall Business Park 

Retail

12,864

4160 Mendenhall Oaks Parkway, High Point, NC

Mendenhall Business Park

Distribution

107,480

4170 Mendenhall Oaks Parkway, High Point, NC

Mendenhall Business Park

Flex

43,040

4180 Mendenhall Oaks Parkway, High Point, NC

Mendenhall Business Park

Flex

33,440

4191 Mendenhall Oaks Parkway, High Point, NC

Mendenhall Business Park

Flex

45,100

9101, 9105, 9111,9115 Guilford Road, Columbia, MD

Rivers Technology Park

Flex

53,054

9125,9135,9145 Guilford Road, Columbia, MD

Rivers Technology Park

Flex

85,216

8945, 8955, 8965, 8975 Guilford Road, Columbia, MD

Rivers Business Commons

Office

101,596

 7178-7180 Columbia Gateway, Columbia, MD

Fox Run Business Center

Office

88,895

1001 Boulders Parkway, Richmond, VA

The Boulders

Office

78,995

7400 Beaufont Springs Drive, Richmond, VA

The Boulders

Office

76,981

1100 Boulders Parkway, Richmond, VA

The Boulders

Office

133,302

701A Route 73 South, Marlton, NJ

Marlton Executive Park

Office

93,766

701C Route 73 South, Marlton, NJ

Marlton Executive Park

Office

27,802

3000 Atrium Way, Mount Laurel, NJ

Horizon Corporate Center

Office

108,416

2000 Crawford Way, Mount Laurel, NJ

Horizon Corporate Center

Flex

74,013

SOURCE Liberty Property Trust



RELATED LINKS
http://www.libertyproperty.com

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