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Liberty Property Trust to Break Ground on Two LEED Industrial Development Projects Totaling 312,000 Square Feet at Caliber Ridge in Greer, South Carolina

Market Demand Remains High as 110 Caliber Ridge Drive Reaches 100% Occupancy with an Executed Lease totaling 104,000 Square Feet

 

CHARLOTTE, NC – August 5, 2014 – Liberty Property Trust today announced that it will break ground on two LEED® development projects in Caliber Ridge Industrial Park in Greer, South Carolina to meet tenant demand. Development will commence immediately on both projects, 140 Caliber Ridge Drive and 120 Caliber Ridge Drive, with expected delivery by the end of 2014.

 

Caliber Ridge is located at I-85 and Highway 101 across from the BMW Manufacturing Plant and in close proximity to Greer’s new inland port.

 

"Strategic placement of Caliber Ridge continues to drive strong interest from prospective tenants," said Massie Flippin, vice president and city manager for Liberty’s Carolinas region. “We are thrilled to welcome Bosch at Caliber Ridge Industrial Park and are excited to begin construction on two new buildings in the park. The 120 and 140 Caliber Ridge Drive buildings will be state-of-the-art industrial facilities that can accommodate distribution, light assembly, and manufacturing uses.”

 

Liberty will develop a 156,000 square foot build-to-suit facility for Bosch Security Systems. The project, located at 140 Caliber Ridge Drive, will be used to distribute products to customers in North and South America and support light assembly for customer-specific projects.

 

Liberty has also signed an anchor tenant for its 156,000 square foot speculative facility to be located at 120 Caliber Ridge Drive. Pilot Freight has pre-leased 41,600 square feet, leaving 114,400 square feet of speculative space available for lease.

 

The architect for the development project is MCA Architecture, the civil engineer is Arbor Engineering and the general contractor is ARCO Design/Build, Inc.  Jaime Maldonado is Liberty’s project manager. 

 

Liberty completed development of 110 Caliber Ridge Drive, a 156,000 square foot distribution facility, in February 2014. The building is 100% leased to tenants including AL Industries.

 

Bryan Blythe with Liberty worked with the Thalhimer, Cushman & Wakefield team of Brian Young, Elliott Fayssoux, and Kacie Jackson in landing all three deals. Bosch Security Systems was represented by Charlie Whitmire at Thalhimer, Cushman & Wakefield and Kent Ilhardt at Cushman & Wakefield out of Chicago.  Pilot Freight was represented by Frank Larsen from CBRE in Charlotte as well as Trey Pennington and Ryan Koop from CBRE in Greenville.

 

Liberty’s Carolinas region is a leading provider of quality multi-tenant warehouse assets along the I-85 corridor between Raleigh, NC and Greenville, SC.  Across the Carolinas portfolio, Liberty owns more than seven million square feet of multi-tenant industrial space, including 1.4 million square feet in Raleigh/Durham, North Carolina, 1.9 million square feet in the Piedmont Triad, North Carolina, 2.6 million square feet in Charlotte, North Carolina and 1.1 million square feet in Greenville, South Carolina. 

 

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 103 million square foot portfolio includes more than 750 properties which provide office, distribution and light manufacturing facilities to 1,800 tenants. 

 

General Inquiries: Massie Flippin, Liberty Property Trust, 704.426.8000

Media Contact: Margo Winans, Liberty Property Trust, 757.404.8653