FOR IMMEDIATE RELEASE
General Inquiries: Massie Flippin, Liberty Property Trust, 704/426-8000
Media Contact: Margo Hunt Winans, a.s.a.p.r., 757/404-8653
LIBERTY PROPERTY TRUST BRINGS CABLE ASSEMBLY AND WEMA AMERICAS
TO THE PIEDMONT TRIAD
Company Signs more than 78,000 Square feet at The Boulders and Green Point in Greensboro
CHARLOTTE, NC – June 19, 2009 – Liberty Property Trust (NYSE:LRY), which owns and manages 4.7 million square feet of office and industrial space in the Carolinas, today announced that it has recently signed two new leases in its Triad portfolio.
“We are pleased to welcome two new tenants to our Piedmont Triad portfolio,” said Massie Flippin, vice president and city manager for the Carolinas region. “We are pleased to offer these quality companies a solution for their expansion needs.”
Cable Assembly LLC has signed a long-term lease for 62,200 square feet of class A warehouse space at Boulder I, located 6532 Judge Adams Road in Whitsett. The company, which provides wire harness and electro-mechanical assemblies, anticipates moving into its new location in October. Rich Mossman of C.B. Richard Ellis represented Liberty and Bob Lewis of NAI Piedmont Triad represented Cable Assembly in the lease negotiations.
“Cable Assembly’s decision to begin manufacturing in Greensboro is welcome news for our regional economy,” said Dan Lynch, president, Greensboro Economic Development Partnership. “They will create much needed employment opportunities at a time of high unemployment and unstable economic conditions. We enthusiastically welcome Cable Assembly to the Triad.”
The Boulder I building is located in the covenant protected park, Rock Creek Corporate Center. Current tenants at The Boulders include Dade Paper and Del Monte Fresh Produce.
WEMA Americas LLC has signed a new lease for 15,880 square feet at 4501 Green Point Drive in Greensboro. Located in the Green Point Business Park, the company moved into its new location late last month. John Schultz and Breck Dorton of Triad Commercial Properties represented Liberty in the transaction.
Green Point Business Park is located in the heart of the Piedmont Triad on Highway 68 and Gallimore Dairy Road, one-mile South of Interstate 40. Tenants in the park include Larson-Juhl, Corporate Express, and Viewpoint Studios.
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 approximately 750 office, distribution and light manufacturing facilities. For more information visit www.libertyproperty.com.