HOUSTON - May 8, 2008 - Liberty Property Trust (NYSE:LRY), the real estate investment trust that owns and manages more than 3.8 million square feet of warehouse and distribution space in Houston, today announced that it has signed McLean Cargo Specialists for Houston's first Leadership LEED registered industrial building at Central Green Business Park. In addition, Liberty announced that it has leased, renewed and expanded another 272,917 square feet in existing industrial properties in North and Northwest Houston.
"We are extremely pleased to welcome McLean Cargo Specialists to our newest Houston development," said Joe Trinkle, vice president and city manager, Liberty Property Trust. "This facility provides tenant specified features such as stand-alone design with secured outside storage, airport proximity, highway accessibility, abundant parking and rapid move-in. The company will also gain the benefits of our first LEED registered industrial project in Houston: decreased utility and overall operating expenses and an improved working environment for employees. Transactions with quality tenants such as this have helped Liberty grow in the Houston market from 1.2 million square feet just two years ago to nearly four million square feet, today."
McLean Cargo Specialists, Inc. signed a long term lease for Liberty's entire 63,600 square foot Building 9 located in its Central Green Business Park. The building is Houston's first speculative industrial development project to be registered by the US Green Building Counsel for Leadership in Energy & Environmental Design (LEED).
Liberty's Central Green Business Park includes nine existing, predominantly leased buildings and more than 80 acres of developable land in two parcels measuring 25.3 acres and 55.5 acres. Located at the Southwest corner of George Bush International Airport ( just off Beltway 8 along Hardy Toll Road), Central Green Business Park provides accessibility, identity and flexibility in addition to Class "A" state-of-the-art industrial/distribution space.
In other leasing activity:
- American Tire Distributors signed a 94,089 square foot lease at 860 Greens Parkway at Liberty's Greens Crossing Distribution Center. Greens Crossing is a three building campus located near the Beltway 8 and Interstate-45 interchange.
- Omni Laboratories renewed its 68,428 square foot lease at Liberty's Legacy Center Business Park located at Beltway 8 and Fallbrook Drive. The company also signed a new lease for 78,400 sq. ft. at 5200 North Same Houston Parkway West in the Beltway at Bammel Business Park.
- Also at Beltway at Bammel Business Park, Thomas Hudson Enterprises leased 32,000 square feet at 5250 North Sam Houston Parkway West. Beltway at Bammel Business Park is an 8.1 acre campus featuring two buildings totaling 326,400 square feet of Class A state-of-the-art industrial/distribution space. The park provides convenient access to Northwest and North Houston via US 290, Highway 249 and Interstate 45.
Liberty and LEED
In 2006 Liberty earned a U. S. Green Building Council Award for Corporate Leadership which is awarded to outstanding leaders in green building who demonstrate exceptional vision, leadership, and commitment to the evolution of green building design and construction. In addition, the company was also honored with the 2007 National Association of Industrial and Office Properties "Green Development Award." This is a national award recognizing the company for developing the top sustainable development project of 2007 - a high-performance warehouse and distribution center for Johnson Diversey in Wisconsin. Liberty has more than 5 million square feet of LEED and BREEAM ( British Real Estate Environmental Assessment Method) projects completed or under construction.
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 75 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