Liberty Property Trust Sells 32 Properties in Lehigh Valley

Largest commercial landlord in the region weighs growth opportunities in the Lehigh Valley and central Pennsylvania

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May 11, 2011, 05:24 ET

BETHLEHEM, Pa., May 11, 2011 /PRNewswire/ -- Liberty Property Trust (NYSE: LRY), today announced that it has sold 32 properties, offering 1.4 million square feet of space in the Lehigh Valley, Pennsylvania, region, for approximately $124 million. Liberty remains both the largest landlord and the only national commercial real estate company with a local presence in the Lehigh Valley.

"This sale is consistent with our Lehigh Valley strategy. Our focus remains on developing and operating high quality distribution properties in the growing distribution corridor that stretches from the Lehigh Valley through Harrisburg to Hagerstown, MD," said Bob Kiel, senior vice president and city manager for the Lehigh Valley region.

"We took the opportunity to divest some older properties in the Lehigh Valley International Airport submarket in order to focus on growth in the west side of the Lehigh Valley and across the corridor," he continued. "As the economy picks up speed, demand for high quality distribution facilities across the region is growing."

The properties include office and high-finish flex properties and are located in Lehigh Valley Industrial Park, William Penn Business Center, and Stabler Corporate Center. The properties are approximately 90% leased.

Liberty continues to own and manage nearly 16 million square feet of space in the region.

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 more than 2,000 tenants at nearly 700 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


Office Property Address	Park	Square Footage
83 S. Commerce Way, Bethlehem, PA	Lehigh Valley Industrial Park IV	18,983
85 S. Commerce Way, Bethlehem, PA	Lehigh Valley Industrial Park IV	21,119
87 S. Commerce Way, Bethlehem, PA	Lehigh Valley Industrial Park IV	22,653
89 S. Commerce Way, Bethlehem, PA	Lehigh Valley Industrial Park IV	43,200
57 S. Commerce Way, Bethlehem, PA	Lehigh Valley Industrial Park IV	76,400
1455 Valley Center Parkway, Bethlehem, PA	Lehigh Valley Corporate Center	54,118
1495 Valley Center Parkway, Bethlehem, PA	Lehigh Valley Corporate Center	43,770
1510 Valley Center Parkway, Bethlehem, PA	Lehigh Valley Corporate Center	48,208
1525 Valley Center Parkway, Bethlehem, PA	Lehigh Valley Corporate Center	75,000
1530 Valley Center Parkway, Bethlehem, PA	Lehigh Valley Corporate Center	46,400
1550 Valley Center Parkway, Bethlehem, PA	Lehigh Valley Corporate Center	43,400
1560 Valley Center Parkway, Bethlehem, PA	Lehigh Valley Corporate Center	51,400
1605 Valley Center Parkway, Bethlehem, PA	Lehigh Valley Corporate Center	95,000
1640 Valley Center Parkway, Bethlehem, PA	Lehigh Valley Corporate Center	30,850
1650 Valley Center Parkway, Bethlehem, PA	Lehigh Valley Corporate Center	29,150
1660 Valley Center Parkway, Bethlehem, PA	Lehigh Valley Corporate Center	27,500
3701 Corporate Parkway, Center Valley, PA	Stabler Corporate Center	75,000
3773 Corporate Parkway, Center Valley, PA	Stabler Corporate Center	71,000
754 Roble Road, Allentown, PA	Lehigh Valley Industrial Park III	46,800
764 Roble Road, Allentown, PA	Lehigh Valley Industrial Park III	21,860
944 Marcon Boulevard, Allentown, PA	Lehigh Valley Industrial Park III	38,400
954 Marcon Boulevard, Allentown, PA	Lehigh Valley Industrial Park III	30,140
964 Marcon Boulevard, Allentown, PA	Lehigh Valley Industrial Park III	39,200
974 Marcon Boulevard, Allentown, PA	Lehigh Valley Industrial Park III	39,200
2041 Avenue C, Bethlehem, PA	Lehigh Valley Industrial Park I	30,400
2196 Avenue C, Bethlehem, PA	Lehigh Valley Industrial Park I	31,140
2201 Hangar Place, Allentown, PA	Lehigh Valley Industrial Park III	52,300
2202 Hangar Place, Allentown, PA	Lehigh Valley Industrial Park III	66,495
3174-3194 Airport Road, Allentown, PA	Lehigh Valley Industrial Park I	42,000
7277 William Avenue, Allentown, PA	William Penn Business Center	41,040
7355 William Avenue, Allentown, PA	William Penn Business Center	43,425
7562 Penn Drive, Allentown, PA	William Penn Business Center	26,950