MALVERN, PA - November 20, 2008 - Liberty Property Trust (NYSE:LRY), which owns and manages more than 15 million square feet of office and industrial space in southeastern Pennsylvania, today announced that Yellowbook, a national leader in the local search industry, has signed a lease at 2201 Renaissance Boulevard in King of Prussia, Pennsylvania.
"Yellowbook wanted to bring together employees from several buildings in Renaissance Park to improve their operating efficiency," said Tom Sklow, vice president and city manager, Liberty Property Trust. "A Liberty tenant since 2000 when they leased 35,000 square feet, Yellowbook has had the opportunity to experience our commitment to tenant satisfaction, and we are in turn gratified to know they chose to stay with Liberty."
The 132,823 square foot building in Renaissance Park will serve as a work place for more than 800 Yellowbook employees. The interior of the building will be completely renovated and include the installation of a new fitness center, data center, and the upgrade of an existing cafeteria. Yellowbook now leases 190,000 square feet from Liberty in Renaissance Park.
In addition to this building, Yellowbook will remain a Liberty tenant at 3400 Horizon Drive and 2560 Renaissance Boulevard in King of Prussia, Pennsylvania.
Bruce Hartlein represented Liberty in the transaction. Jon Sarkisian and Dennis Durkin from CB Richard Ellis served as the tenant brokers for this lease agreement.
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 75 million square foot portfolio offers exceptional locations and flexible design to more than 2,100 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 visit www.libertyproperty.com.
Liberty Property Trust