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lIBERTY PROPERTY TRUST EXPANDS ITS LEASE agreement with SOURCEFIRE, INC. IN COLUMBIA, Md
Expansion Upgrades Support Tenant Branding of the Facility
COLUMBIA, MD – April 5, 2010 - Liberty Property Trust, (NYSE:LRY) today announced that Sourcefire, Inc. has renewed and expanded its lease agreement at Patuxent Woods Drive in Columbia, Maryland. The expanded agreement now includes a total of 58,000 square feet of office space. Sourcefire, Inc., a leader in intelligent cyber security solutions, has been a Liberty tenant since 2005.
"Sourcefire was looking to accommodate growth, enhance its operational efficiency and better brand its facilities," said Lisa Sullivan, vice president and city manager, Liberty Property Trust. "Liberty was able to provide flexibility and support in meeting these goals by making space available in adjacent buildings and by working to enhance and unify its common areas. We are pleased to have been able to offer solutions that allowed them to expand while remaining within the Liberty portfolio.”
Liberty has recently completed upgrades to 9770 Patuxent Woods Drive. Renovations, including the creation of a client/public presentation space, were designed to aid in the enhancement and branding of the facility. Other changes include extensive upgrades to the reception area (including new signage and atrium renovation), restroom remodeling and upgrades to the HVAC systems.
The renovations at Patuxent Woods are the latest in a series of upgrades to many of the existing buildings in Liberty’s Columbia Corridor portfolio, including 4 and 10 North Park in Hunt Valley and 180 Admiral Cochrane in Annapolis. All renovations reflect Liberty’s commitment to sustainable design and are expected to provide considerable cost savings to tenants.
Patricia Maccini from Commercial Real Estate Services represented the tenant in the transaction.
Sourcefire, Inc. (Nasdaq:FIRE), Snort creator and open source innovator, is a leader in intelligent cyber security solutions. Sourcefire is transforming the way Global 2000 organizations and government agencies manage and minimize network security risks. Sourcefire’s IPS and Real-time Adaptive Security solution equips customers with an efficient and effective layered security defense – protecting network assets before, during and after an attack. Through the years, Sourcefire has been consistently recognized for its innovation and industry leadership by customers, media and industry analysts alike – with more than 50 awards and accolades. Today, the names Sourcefire and founder Martin Roesch have grown synonymous with innovation and network security intelligence. For more information about Sourcefire, please visit http://www.sourcefire.com.
About Liberty Property Trust
Liberty Property Trust (NYSE:LRY) owns and manages more than three million square feet of office, flex and industrial space in Maryland. Headquartered in Malvern, PA, Liberty 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 78 million square foot portfolio offers exceptional locations and flexible design to more than 2,000 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.