Keystone Property Trust Appoints New Jersey Industrial Specialist

Apr 10, 2001, 01:00 ET from Keystone Property Trust

    WEST CONSHOHOCKEN, Pa., April 10 /PRNewswire/ -- Keystone Property Trust
 (Amex:   KTR) (the "Company" or "Keystone") announced today that it has
 appointed Marc Petrella as Vice President.  Mr. Petrella will be responsible
 for coordinating the leasing and marketing of the Company's existing big-box
 distribution center portfolio and development pipeline in Central and Northern
 New Jersey, which together total approximately 8 million square feet.  As part
 of his focus on the New Jersey market, he will be actively involved in
 Keystone's acquisition program, which includes over $175 million of
 acquisitions to be made as part of the Company's $300 million joint venture
 with CalEast Industrial Investors LLC.
     Charles C. Lee, Jr., Senior Vice President, Marketing and Leasing,
 commenting on the appointment, stated, "Marc's local market knowledge and
 transaction experience will be of great value as we continue to focus on the
 growth of our New Jersey platform.  We are the largest public landlord of
 industrial space in New Jersey and welcome Marc's contribution towards our
 further expansion in the third largest industrial market in the country."
     Mr. Petrella is formerly of CB Richard Ellis and has a total of nine years
 of experience in a variety of marketing positions.  In his real estate career
 he has completed more than 5.9 million square feet of transactions with a
 total consideration of more than $180 million.  Mr. Petrella holds a Bachelor
 of Arts degree in Economics and Business from Lafayette College.
 
     Keystone Property Trust, with headquarters in West Conshohocken,
 Pennsylvania, is a fully integrated real estate investment trust with
 3.5 million square feet of state-of-the-art distribution centers either under
 construction or in its development pipeline.  In addition, the Company has a
 land bank of over 500 acres either owned or under option on which
 approximately 8 million square feet can be built.  The current portfolio
 consists of 129 industrial and office properties aggregating approximately 22
 million square feet in the Eastern United States.  Keystone's core portfolio
 contains over 19 million square feet of big box distribution assets, with over
 16.8 million square feet located in the Northeast Distribution Corridor, which
 encompasses New Jersey, Pennsylvania, Ohio, New York and Indiana.  For more
 information, contact Jennifer R. Wall at 212-527-9900, send email to
 info@keystoneproperty.com or visit the Company web site at
 www.keystoneproperty.com.
 
     This press release may contain statements which constitute forward-looking
 statements within the meaning of the Private Securities Litigation Reform Act
 of 1995, including statements regarding the intent, belief or current
 expectations of the Company, its trustees, or its officers with respect to the
 future operating performance of the Company and the result and the effect of
 legal proceedings.  Investors are cautioned that any such forward-looking
 statements are not guarantees of future performance and involve risks and
 uncertainties, and that actual results may differ materially from those in the
 forward-looking statements as a result of various factors.  Important factors
 that could cause such differences are described in the Company's periodic
 filings with the Securities and Exchange Commission, including the Company's
 Form 10-K and quarterly reports on Form 10-Q.
 
 

SOURCE Keystone Property Trust
    WEST CONSHOHOCKEN, Pa., April 10 /PRNewswire/ -- Keystone Property Trust
 (Amex:   KTR) (the "Company" or "Keystone") announced today that it has
 appointed Marc Petrella as Vice President.  Mr. Petrella will be responsible
 for coordinating the leasing and marketing of the Company's existing big-box
 distribution center portfolio and development pipeline in Central and Northern
 New Jersey, which together total approximately 8 million square feet.  As part
 of his focus on the New Jersey market, he will be actively involved in
 Keystone's acquisition program, which includes over $175 million of
 acquisitions to be made as part of the Company's $300 million joint venture
 with CalEast Industrial Investors LLC.
     Charles C. Lee, Jr., Senior Vice President, Marketing and Leasing,
 commenting on the appointment, stated, "Marc's local market knowledge and
 transaction experience will be of great value as we continue to focus on the
 growth of our New Jersey platform.  We are the largest public landlord of
 industrial space in New Jersey and welcome Marc's contribution towards our
 further expansion in the third largest industrial market in the country."
     Mr. Petrella is formerly of CB Richard Ellis and has a total of nine years
 of experience in a variety of marketing positions.  In his real estate career
 he has completed more than 5.9 million square feet of transactions with a
 total consideration of more than $180 million.  Mr. Petrella holds a Bachelor
 of Arts degree in Economics and Business from Lafayette College.
 
     Keystone Property Trust, with headquarters in West Conshohocken,
 Pennsylvania, is a fully integrated real estate investment trust with
 3.5 million square feet of state-of-the-art distribution centers either under
 construction or in its development pipeline.  In addition, the Company has a
 land bank of over 500 acres either owned or under option on which
 approximately 8 million square feet can be built.  The current portfolio
 consists of 129 industrial and office properties aggregating approximately 22
 million square feet in the Eastern United States.  Keystone's core portfolio
 contains over 19 million square feet of big box distribution assets, with over
 16.8 million square feet located in the Northeast Distribution Corridor, which
 encompasses New Jersey, Pennsylvania, Ohio, New York and Indiana.  For more
 information, contact Jennifer R. Wall at 212-527-9900, send email to
 info@keystoneproperty.com or visit the Company web site at
 www.keystoneproperty.com.
 
     This press release may contain statements which constitute forward-looking
 statements within the meaning of the Private Securities Litigation Reform Act
 of 1995, including statements regarding the intent, belief or current
 expectations of the Company, its trustees, or its officers with respect to the
 future operating performance of the Company and the result and the effect of
 legal proceedings.  Investors are cautioned that any such forward-looking
 statements are not guarantees of future performance and involve risks and
 uncertainties, and that actual results may differ materially from those in the
 forward-looking statements as a result of various factors.  Important factors
 that could cause such differences are described in the Company's periodic
 filings with the Securities and Exchange Commission, including the Company's
 Form 10-K and quarterly reports on Form 10-Q.
 
 SOURCE  Keystone Property Trust