JACKSONVILLE, FL – January 31, 2011– Liberty Property Trust (NYSE: LRY) today announced that it has completed 58 leases and renewal transactions in Jacksonville in 2010. The agreements total 501,171 square feet of office and industrial space.
“Our vacancy rates in 2010 remained low, a result of both new lease volume and tenant growth,” said Mike Heise, vice president and city manager at Liberty.
Liberty gained 26 new tenants in 2010, with leases totaling nearly 240,000 square feet. In addition, approximately 260,000 square feet of office and industrial space was renewed last year by 32 existing tenants.
Liberty owns, manages and leases a total of 37 buildings providing office and industrial space to approximately 160 tenants in the greater Jacksonville area. The company has developed six LEED certified buildings in Florida, including the LEED Gold Butler Plaza III building and the LEED certified PHH Mortgage building in Jacksonville. Liberty's Jacksonville portfolio is 92%
About Liberty Property Trust
Liberty Property Trust owns and manages nearly 2.5 million square feet of office and industrial properties in Jacksonville. The company is headquartered in Malvern, PA and 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 80 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 please visit www.libertyproperty.com.
General Inquiries: Mike Heise, Liberty Property Trust, 904/281-5454
Media Contact: Margo Hunt Winans, a.s.a.p.r., 757/404-8653