Developer's new Liberty Commerce Center in Butts County will add capacity in 2018
Atlanta, GA – February 5, 2018 – Liberty Property Trust completed 876,984 square feet of leasing in 2017, ending the year with 2.7 million square feet of space across 19 buildings and a 93.3 percent occupancy rate in its Georgia portfolio.
"In executing more than 20 new leases, renewals and expansions in 2017, we laid the groundwork for strategic core growth in 2018," said Steve Rowley, vice president and market leader, Liberty Property Trust. "We also kicked off the development of Liberty Commerce Center, which will help meet tenant demand for larger, high-efficiency industrial buildings to serve metro Atlanta, the Port of Savannah and Florida."
During the fourth quarter of last year, the company also acquired a 124,217 square foot industrial building at 1775 Hillcrest Road in Norcross at an investment of $5.7 million. That property is fully leased.
Development Continues at Liberty Commerce Center
In May of last year, Liberty purchased 80 acres at the intersection of Route 175 and State Road 16, approximately 32 miles south of the Hartsfield-Jackson International Airport. In September it announced that it would develop Liberty Commerce Center, a business park, at the location.
Building 100 will include state of the art 40 foot clear heights, 56-by-51 foot column spacing, 161 dock doors, 70 foot speed bays, ESFR sprinkler system, a 195' truck court with 175 spaces and 445 parking spaces. The building has been designed to meet LEED® and Energy Star certification.
The site offers the opportunity to develop a second building, create additional trailer parking or design a larger parking area for cars or storage.
875 Maxham Road to Come Back Online in 2018
In 2017, Liberty began the redevelopment of a 247,000 square foot warehouse and distribution facility at 875 Maxham Road in Lithia Springs, northwest of Atlanta. Located on 550 acres in Westfork Business Park, the facility is strategically positioned in the I-20 West submarket in Douglas County, near Atlanta Hartsfield-Jackson International Airport, the new UPS Hub at Charlie Brown Field and less than a day's drive to the Port of Savannah.
"Finding sites with flexibility is key," said Rowley. "For instance, to the west of our building at 875 Maxham Road, there was a 2.4 acre undeveloped pad. We were able to clear it, install a loop road and add 62 trailer spaces, which could also be used for outside storage or car parking. These changes, in addition to new office finishes and the addition of LED lighting has resulting in the redevelopment of a much-needed building."
When complete this month, the building will offer 30 foot clear heights, 50-by-40 foot column spacing, 50 foot speed bays, 32 dock-high doors (all with dock locks and signals), a drive-in ramp and an ESFR fire suppression system. Two gated truck courts are conveniently connected by loop roads. There is a newly finished 6,145 square foot office space, new concrete and asphalt paving, and a newly painted exterior.
2017 Lease Highlights
Highlights of Liberty's 2017 leasing activity include:
- In July, 1325 Chastain Road in Kennesaw reached full occupancy with the signing of a new lease by LaserShip and a renewal with Home Depot. The 241,578 square foot building features four front loading suites, each with 30 foot clear heights; from five to 22 dock-high doors and oversized drive-in ramps.
- In May, ProCraft Cabinetry leased Building One (3525 Gravel Springs Road) at Liberty Business Center in Buford. The 120,400 square foot, Class A building is certified LEED® Silver. The building features 50-by-54 foot column spacing, 32 foot clear heights, ESFR sprinkler systems and extensive trailer parking. The campus is in proximity to I-85, I-985 and the new Gravel Springs interchange.
- In March, 1305 Chastain Road reached full occupancy with an expansion by Reliable Heating & Air. The new agreement added 27,131 square feet to the lease, for a total of 89,450 square feet.
About Liberty Property Trust
The company 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 101 million square foot portfolio includes 562 properties which provide office, distribution and light manufacturing facilities to 1,200 tenants.
General Inquiries: Steve Rowley, Liberty Property Trust, 561.400.1321
Media Contact: Robbie Tarpley Raffish, a.s.a.p.r., 443.944.9301