Liberty Welcomes its First Two Tenants at its New Speculative Buildings in the Park
ORLANDO, November 30, 2007 -- Liberty Property Trust (NYSE:LRY), the real estate investment trust that owns and manages more than seven million square feet of office and industrial space in Florida, today announced that it has recently leased 88,680 square feet of warehouse space at its two newest speculative buildings located at Liberty Park at AIPO.
"We are very pleased to have such strong leasing activity," said Stephen Whitley, senior vice president and city manager, Liberty Property Trust. "The demand for high-quality industrial space in Orlando remains strong."
Mower MD Incorporated has signed a long-term lease for 44,680 square feet in Building B, located at 2487 Tradeport Drive. Mower MD will be the first tenant to move into the new building, which will serve as a distribution warehouse, service center and retail sales location.
"We chose this location for its excellent visibility and the high-quality of the building," said Mike Barnett, senior national account manager, Mower MD Incorporated. "We wanted to be in a place that we would be glad to have our customers visit."
Mark Stratman of Staubach Company represented Mower MD in the transaction.
Rent-A-Center has signed a long-term lease for 44,000 square feet in Liberty's new Building A, located at 2663 Tradeport Drive. The company will occupy the building by the end of the year.
Liberty recently completed its two new speculative buildings (together totaling 296,100 square feet). The buildings are state-of-the-art industrial facilities designed for corporate users. They feature 28' ceilings, ESFR sprinkler systems, on-site trailer storage and oversized loading areas. Approximately 64,000 square feet remains available for lease in Building A, and 140,000 square feet remains available for lease in Building B.
About Liberty Park at AIPO
Liberty Park at AIPO has more than 400 acres of industrial property available for
development, ranging from 1.5 acres up to 66 acres, with potential build-to-suit opportunities ranging from 30,000 square feet to 1.4 million square feet per site. Liberty Park at AIPO is in close proximity to the Orlando International Airport, Florida Turnpike, GreeneWay Expressway, Beach Line Expressway, and Interstate 4.
Tenants at Liberty Park at AIPO include Ashley Furniture, Averitt Express, Barnes Industrial Pipe, Burris Foods, Chef Creations, City Beverages, Complete Floor Covering, ENCO, Ferguson Enterprises, Forward Logistics-Total Logistics, Goya Foods, Hertz Equipment Rental, Homeland Security INS Division, Jenard Fresh, Kenco Trucking, Lanco Harris Paints, Lockheed Martin, McLane Foodservice, Medline, Mid-Gulf Bakery, Mopar Division Chrysler, Kraft Foods-Nabisco, National Canine Training Facility, Florida Lift, Ring Power Equipment, Southeastern Freight Lines, Tire Kingdom, TW Metals, and Watkins Motor Lines.
About Liberty Property Trust
Liberty Property Trust is one of the largest commercial landlords offering office and industrial space in Orlando. The company owns, leases and manages 32 properties, providing approximately 2.9 million square feet of space in the greater Orlando region.
Liberty Property Trust (NYSE:LRY), 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 70 million square foot portfolio offers exceptional locations and flexible design to more than 2,100 tenants at 700 office, distribution and light manufacturing facilities. The company is a leader in the development of high performance green buildings. For more information visit www.libertyproperty.com.
Liberty Property Trust
Margo Hunt Winans