Year also marked by five Energy Star certifications and three regional awards
COLUMBIA, MD –February 1, 2010- Liberty Property Trust (NYSE:LRY), which owns and manages more than 3.1 million square feet of office, flex and industrial space in Maryland, today announced that it executed 54 new, renewal and expansion lease agreements totaling 591,963 square feet of space in 2010.
“During the last year we could feel the momentum beginning to build,” said Lisa Sullivan, vice president and city manager, Liberty Property Trust. “Our team worked together to find opportunities, and many new leases hinged on our being able to offer flexibility, strong customers service and quick transactions. Tenants also continue to show that customer service and value are priorities in their real estate decisions, which is why we were pleased that more than half the agreements were renewals by existing tenants.”
The year included several important milestones:
- In May, Liberty received the award for “Flex Building of the Year” from the Maryland Chapter of the National Association of Industrial and Office Properties (NAIOP) for its Highpoint 100 Building in Hanover, Maryland.
- In October, Liberty was honored by BOMA (Building Owner’s and Manager’s Association) at its Maryland Chapter’s “Building of the Year” ceremony. Two Liberty buildings – the newly renovated 10 North Park in Hunt Valley and the recently opened Highpoint 100 in Hanover – received Awards of Excellence for property management.
- Also in October, Liberty announced that five of its Class A office buildings had been honored with Environmental Protection Agency’s (EPA) ENERGY STARÒ designations for efficient energy use. The five buildings include 4 North Park Drive (North Park Business Community) and 307 International Circle (Longview Business Center,) both in Hunt Valley, and 6220 and 6230 Old Dobbin Lane (Columbia Crossing) and 9755 Patuxent Woods Drive (Patuxent Woods Business Center) in Columbia.
54 Transactions Completed in 2010 Across the Corridor
Liberty completed 20 new leasing agreements encompassing 305,877 square feet of space, including three leases in the newly renovated 4 North Park building (bringing occupancy to above 95%) and two leases at its sister building, 10 North Park, also recently renovated.
Twenty-nine renewals, two which included expansions, accounted for 275,740 square feet of space. The largest renewal included 110,000 square feet of industrial space by Excel Corporation at 1501 Perryman Road in Aberdeen.
Seven expansions completed the year, including two at Liberty’s flagship office building, 307 International Circle, where Penn Mutual and the accounting firm of Mister, Burton, Palmisano & French LLC added space.
Liberty Property Trust (NYSE:LRY) owns and manages more than three million square feet of office, flex and industrial space in Maryland. Holdings include buildings and parks in Aberdeen, Annapolis, Columbia, Elkridge, Hanover, Hunt Valley and Odenton.
Headquartered in Malvern, PA, Liberty 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 78 million square foot portfolio offers exceptional locations and flexible design to more than 2,000 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.
General Inquiries: Lisa Sullivan, Liberty Property Trust, 410/715-3333
Media Contact: Robbie Tarpley Raffish, a.s.a.p.r., 443/944-9301