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| Liberty Property Trust Purchases 145-Acres In Hagerstown, MD To Be Known As Liberty At Hunter's Green |
Developer Actively Marketing 1.8 Million Square Feet of Class A State-of-the-Art Industrial Warehouse Space Located in the I-81 CorridorHARRISBURG, PA – Liberty Property Trust (NYSE:LRY), which owns and manages approximately 15 million square feet of office and industrial space in Southeastern Pennsylvania, today announced that it has purchased 145-acres of land in Hagerstown, Maryland, centrally located in the I-81 Corridor . Terms of the land acquisition were not disclosed. "This site is extremely well located in Hagerstown," said Troy Briggs, director of leasing and development for the I-81 corridor/Liberty's Hagerstown operation. "Liberty at Hunter's Green will offer state-of-the-art Class A warehouse space in a desirable location for existing users in the marketplace. Not to mention acquiring this site fits well with our growth strategy into the western part of the region and it makes sense to continue to grow our portfolio along the I-81 corridor." Liberty is actively marketing Liberty at Hunter's Green, its newest warehouse distribution complex situated on 145-acres that the company purchased at the close of 2006. The company has architectural plans for two development scenarios within the park (one 1,800,000 square foot building; or two buildings consisting of 1,120,000 square feet and 543,000 square feet), offering a potential of 1.8 million square feet of Class A, state-of-the-art industrial warehouse space Liberty at Hunter's Green is strategically located off I-81 in Hagerstown (Washington County, Maryland), with easy access to Harrisburg, Philadelphia, Pittsburg, Baltimore, New York and New Jersey via I-81, I-70, I-78, I-83 and I-80 and the Pennsylvania Turnpike. Corporate neighbors include: Tractor Supply, Purina, Staples, Lenox, Home Depot, FedEx, PetSmart, and Pavestone. About Liberty Property Trust Liberty Property Trust (NYSE:LRY), headquartered in Malvern, Pennsylvania, is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior office and industrial properties. Liberty's 65 million square foot portfolio includes more than 700 properties which provide office, distribution and light manufacturing facilities to 2,200 tenants.
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