Liberty's Fully Leased 2040 West Rio Salado Parkway wins "Spec Industrial Project of the Year"
Phoenix, AZ – April 25, 2017 – Liberty Property Trust has been named "Owner/Developer of the Year" by NAIOP's Arizona Chapter for the second time since 2014. In addition, Liberty's development at 2040 West Rio Salado Parkway was awarded "Spec Industrial Project of the Year" at the organization's annual awards ceremony.
"We are honored to again receive this award which is extremely meaningful because it is voted on by our peers," said John DiVall, senior vice president and market officer for Liberty Property Trust. "In 2016, we had an extremely active leasing environment coupled with a strong development plan. We launched our new park, Liberty Logistics Center II, as well as two new buildings in Liberty Center at Rio Salado, which has become the fastest growing business park in the area. From development, leasing, marketing and tenant relations, I am very proud of our team's efforts. "
Each year NAIOP, the Commercial Real Estate Development Association, presents regional and national awards to companies, individuals and chapters who have demonstrated exemplary efforts. All awards are based on a system of nominations and peer selection. One of NAIOP's highest honors in the region, "Owner/Developer of the Year" was awarded to Liberty for its impressive development and leasing activity throughout 2016.
In 2016, Liberty's team in Arizona completed development on 358,573 square feet of office and industrial space and broke ground on an additional 676,236 square feet. This includes the development of two new buildings in Liberty Center at Rio Salado as well as two spec industrial buildings at Liberty Logistics Center II in Phoenix, including 1500 S. 71st Avenue which is 60% pre-leased and 7205 W. Buckeye Rd. which is 40% leased. In total, Liberty's leasing and renewal activity in the region topped 1,385,743 square feet in industrial and office agreements. New tenants to the portfolio include Express Scripts, Essendant Co. and Carvana
Spec Industrial Project of the Year Awarded to LEED Gold Building
Liberty's new industrial building located at Liberty Center at Rio Salado was honored with the "Spec Industrial Project of the Year" award. The 215,000 square foot LEED Gold building is concrete-tilt construction and features of 250' building depth, rear-loaded with ground level and dock-high loading, 30' clear height, 185' deep full concrete truck court (expandable to 200'), and 2% skylights in the roof system. The building sits on 20 acres with signage and visibility from both the SR-143 and Loop 202 freeways, as well as roof signage that is visible by airplanes that are landing and taking off above the building.
"This building is located at the intersection of two major freeways, one of the most desirable areas of metropolitan Phoenix, adjacent to Sky Harbor International Airport," added John DiVall. "The park is growing dramatically each year and we expect to complete the entire project much more quickly than planned."
Liberty owns three million square feet of office, flex and industrial property and approximately 300 acres of developable land in the Phoenix Metropolitan area.
About Liberty Property Trust
Liberty Property Trust (NYSE:LPT) 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 96 million square foot portfolio includes 566 properties which provide office, distribution and light manufacturing facilities to 1,200 tenants.
General Inquiries: John DiVall, Liberty Property Trust, 480.860.3160
Media Contact: Jen Meyer, a.s.a.p.r., 201.914.9957