FOR IMMEDIATE RELEASE
General Inquiries: Mike Jones, Liberty Property Trust, 703/880-2900
Media Contact: Robbie Tarpley Raffish, a.s.a.p.r., 410/883-2000
LIBERTY PROPERTY TRUST FINALIZES EIGHT NEW LEASES
Second quarter deals total more than 175,000 square feet of office space
AND FOUR RENEWALS IN WASHINGTON, DC AND NORTHERN VIRGINIA
HERNDON, VA – September 1, 2009 – Liberty Property Trust (NYSE:LRY), which owns and manages more than 2.6 million square feet of office space in the District of Columbia and Northern Virginia, today announced it has completed a dozen leasing agreements in the second quarter of 2009, including the signing of eight new tenants.
“While market conditions remain challenging, we are encouraged by the new leases and the rising level of interest we are experiencing across our portfolio,” said Mike Jones, vice president and city manager, Liberty Property Trust. “As we head into the fall we are cautiously optimistic about our momentum and we look forward to announcing more deals in the near future.”
The total space leased across the 12 agreements is 175,408 square feet.
Two Join 1129 20th Street Tower
At 1129 20th Street - the newly renovated sustainable Class A office tower known as The Liberty Building - two new leases totaling 25,099 square feet of office space were signed.
Feldsman Tucker Leifer Fidell LLP completed a lease for 18,676 square feet, taking the full fourth floor. The tenant was represented by Bruce Pascal and Mike Fox of CB Richard Ellis. National Council of Young Men’s Christian Associations of the United States of America (YMCA), represented by Susan Pepper of Grubb & Ellis Company, signed a new lease for 6,423 square feet of space in the building.
Liberty’s tower at 1129 20th Street is located in the heart of Washington, DC’s central business district, between L and M Streets, NW. The original eight-story structure was built in 1968. Beginning in 2007, major renovations were made to the building, including the addition of two floors, increasing the size of the building to 176,058 square feet. A new façade and new building systems have been woven through the existing structure. The renovations have been designed to achieve U.S. Green Building Council (USGBC) LEED® Gold-New Construction certification standards.
Six New Tenants Sign for 44,467 Square Feet of Office Space
At Republic Park in Herndon, in which Liberty owns and operates eight buildings, two tenants have executed new leases in Republic Park V (13645 Dulles Technology Drive).
• Wireless Matrix USA, Inc., represented by Casey Veatch of Veatch Commercial, signed a lease for 18,029 square feet
• RSI Enterprises, Inc., represented by Andy Klaff of Grubb & Ellis Company, signed a lease for 8,446 square feet.
Three tenants have signed new lease agreements for office space at WillowWood Plaza, a Liberty-owned four building office park in Fairfax.
• Home Infusion Solutions LLC signed a lease for 4,500 square feet of space at WillowWood I (10300 Eaton Place.)
• The Law Offices of Catherine M. Rees and The Family Law & Mediation Center
signed a lease for 3,715 square feet WillowWood I (10300 Eaton Place.) The tenant was represented by Paula Kelley of Kelley Commercial.
• Rummel, Klepper, & Kahl, LLP signed a lease for 5,162 square feet at WillowWood II. (10306 Eaton Place.) Mark Larsen of Larsen Commercial and Mark Deering of MacKenzie Commercial Real Estate Services represented the tenant.
Also in Fairfax, Parsons Service Company, represented by John Kerr of CB Richard Ellis, has signed a new lease for 4,615 square feet of space at Pender II (3926 Pender Drive), one of four buildings Liberty owns and operates in Pender Park.
Four Tenants Renew at WillowWood Plaza in Fairfax
Four tenants renewed their leases at WillowWood Plaza, with transactions totaling 105,842 square feet of office space.
At WillowWood II (10306 Eaton Drive), Architecture & Design Associates, Inc. has renewed its lease for 3,578 square feet of space and Hamilton, Altman, Canale & Dillon, LLC, represented by Eric Berlin of Cushman and Wakefield, has renewed its lease for 5,114 square feet.
Witt Mares PLC, represented by Dan Falls – CB Richard Ellis, has renewed its lease of 4,158 square feet at WillowWood III (10304 Eaton Place), and GSA has renewed its lease of 92,992 square feet in the same building.
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 77 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.