MALVERN, Pa., Dec. 18, 2014 /PRNewswire/ -- Liberty Property Trust (NYSE:LPT), today announced that it has closed on the sale of four office properties at Maitland Center in Orlando for $116.75 million. The disposition totals 588,678 square feet.
"This transaction is consistent with Liberty's strategy to move to an industrial platform in Orlando," said Stephen Whitley, senior vice president and city manager for Liberty's Orlando region. "We will continue to grow our industrial distribution portfolio, and have recently broken ground on two buildings totaling 370,000 square feet in Liberty Park at AIPO."
Upon transaction closing, the properties sold were 96% leased. The properties comprise the following: 1901 Summit Tower Boulevard, 120,268 square feet; 1950 Summit Park Drive, 128,240 square feet; 1958 Summit Park Drive, 128,934 square feet; and 2001 Summit Park Drive, 211,236 square feet.
About Liberty Property Trust
Liberty Property Trust (NYSE: LPT) is a leader in commercial real estate, serving customers in the United States and United Kingdom through the development, acquisition, ownership and management of superior office and industrial properties. Liberty's 105 million square foot portfolio includes more than 750 properties which provide office, distribution and light manufacturing facilities to 1,800 tenants.
Inquiries: Jeanne Leonard, Liberty Property Trust, 610.648.1704
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SOURCE Liberty Property Trust