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| Liberty Property Trust Completes Construction Of Expansion Facility For Uline Inc. At Liberty Business Center |
Liberty makes its own expansion plans at the park with the development of two warehouse/distribution buildingsLiberty Property Trust Completes Construction Of Expansion Facility For Uline Inc. At Liberty Business Center LEHIGH VALLEY, PA – Liberty Property Trust (NYSE:LRY), the real estate investment trust that owns and manages more than 15 million square feet of office, distribution and flex space in Lehigh Valley and Harrisburg, today announced that it has completed construction of its 187,500 square foot warehouse/distribution facility for Uline Incorporated in Breinigsville, Pennsylvania. "When we learned that Uline needed more distribution space for its northeast distribution center, we were very pleased to be in a position to help them grow," said Bob Kiel, senior vice president and regional director, Liberty Property Trust. "We had partnered with Uline on the development of its building at 400 Boulder Drive, and our ongoing relationship with the company, combined with the fact that we had land adjacent to the existing building, served everyone's needs well." The new state-of-the-art building, located at 8201 Industrial Boulevard, is situated on a 15.6 acre parcel behind Uline's existing building at 400 Boulder Drive in Liberty Business Center (formerly known as Boulder Business Center.) Liberty began construction on the building in December 2006 to accommodate Uline's continued growth. (Liberty developed 400 Boulder Drive, a 363,000 square foot building for Uline in 2004). Uline Inc., a family owned and run business, is a leading distributor of shipping, industrial, and packing materials to businesses throughout the United States. Since 1980, its product line has expanded to include approximately 14,500 products and today has more than 2,000 employees nationwide. Uline has distribution centers near Chicago, IL; Minneapolis, MN; Allentown, PA; Los Angeles, CA; Atlanta, GA; and Dallas, TX; with a satellite location in Tijuana, Mexico. About Liberty Business Center Liberty Business Center is a multi-tenant warehouse/distribution center developed by Liberty and strategically positioned within a designated Foreign Trade Zone (FTZ). Located off of Route 100 South at Boulder Drive and Industrial Boulevard, the center offers easy access to various Interstates and Highways (I-78 and I-476, 22 and 309) as well as public transportation (LANTA). The center is also within a two mile radius of hotels, restaurants, retail shops and other amenities. Including the company's new 187,500 square foot facility, Liberty currently owns, manages and leases 12 buildings totaling more than 6 million square feet, serving 18 tenants in the center. "We anticipate a fairly dramatic increase in demand for new warehouse and distribution product within the next year," notes Kiel. Liberty is preparing to break ground on two warehouse/distribution buildings, and upon completion, the buildings will consist of 920,000 square feet and 564,000 square feet. Each facility will offer ample car and truck parking, 180-foot truck courts, 32 to 36 foot ceiling heights, and ample dock and drive-in doors to meet various tenant criteria. About Liberty Property Trust 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 68 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 has been serving the Lehigh Valley for more than 25 years.
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