713,585 Square Foot Building at 8201 Chancellor Drive is the Largest Sale in the Market in Five Years
Orlando, FL – November 18, 2015 - Liberty Property Trust today announced it has sold a 713,585 square foot industrial property at 8201 Chancellor Drive for $35.5 million. The transaction was concluded late last week.
When Liberty acquired the property in 2010, the drugstore chain CVS had the building under lease. Liberty completed a long-term renewal of the lease with the tenant last year.
“Liberty remains very committed to the Orlando market and we continue to focus on growing our industrial portfolio,” said Stephen Whitley, senior vice president and city manager for Liberty in Orlando. “We have just developed two new buildings and there are more in the planning stages.”
Frank Fallon, Mike Hines and David Murphy of CBRE represented Liberty in the transaction. The buyer was advised by Exan Capital LLC.
Liberty currently owns and manages 3.6 million square feet of industrial space in Orlando, with significant holdings in Liberty Park at AIPO, Beachline Industrial Park, Cypress Park Commerce Center, among others.
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 106 million square foot portfolio includes 728 properties which provide office, distribution and light manufacturing facilities to 1,700 tenants.
General Inquiries: Stephen Whitley, Liberty Property Trust, 407.447.1776
Media Contact: Robbie Raffish, a.s.a.p.r., 44.944.9301