District of Columbia – July 24, 2013 – Liberty Property Trust’s District of Columbia/Northern Virginia offices today announced that they have been named the co-recipients of the coveted 2013 Rouse Award. The award recognizes the top performing regional office during the previous year, based on achieving excellence in the company’s three core competencies: leasing, development and property management. It is given at the company’s annual state-of-the business meeting.
The combined DC/NOVA region closed the year with 91.5% occupancy, more than six points higher than the region’s overall 2012 occupancy rate (of 85.15%.) Contributing to that success was a 79.2% renewal rate and significant leasing activity, including the signing of one of Northern Virginia’s largest leases, with Northern Virginia Community College for 87,000 square feet of space.
The team achieved a more than 25% reduction in energy consumption against its 2008 baseline figures through proactive, real-time energy management. They also successfully transitioned a major acquisition – 1100 17th Street – and in the process increased its occupancy from 83% to 91%.
“Receiving the 2013 Rouse Award is particularly satisfying as we accomplished so much in the face of what was still an unstable market based on the uncertainty surrounding the election, the Federal budget and sequestration. All of these had a disproportionate impact on the D.C. Metro,” said Mike Jones, vice president and city manager for Liberty’s Northern Virginia region. “Our team’s passion and effectiveness to capitalize on every opportunity, while creating tangible value to both our tenants and shareholders, is really what made the difference.”
The Rouse Award is named in honor of the founder and first Chairman and CEO of Liberty Property Trust, the late Willard G. Rouse III, who challenged the company's employees to always reach above and beyond excellence. The competition is held annually between Liberty's 22 offices nationwide and in the United Kingdom.
About Liberty Property Trust
Liberty Property Trust (NYSE: LRY) 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 81 million square foot portfolio consists of 662 properties providing office, distribution and light manufacturing facilities to 1,700 tenants.
General Inquiries: Mike Jones, Liberty Property Trust, 703/880-2900
Media Contact: Robbie Tarpley Raffish, a.s.a.p.r., 443/944-9301