Two New Leases Build Upon 2017 Successes
Charlotte, NC – February 7, 2018 – Liberty Property Trust today announced it has completed two new leases at Keystone Park in Durham.
FIDELITONE has signed a long-term lease of 40,000 square feet of space at 324 Park Knoll Drive for their last mile delivery business. The building remains 100% occupied. Doug Brock of Newmark Grubb Knight Frank represented the tenant, and Ed Brown of NAI Carolantic represented Liberty.
Associated Materials, LLC has taken the remaining 24,000 square feet at 627 Distribution Drive. The new agreement brings the building to 100% occupancy. Associated Materials joins Silecte, LLC and Classic Graphics, both of which leased space at the building in 2017. Associated Materials was represented by Doug Brock at Newman Knight Frank. Ed Brown and Daniel Herring of NAI Carolantic represented Liberty.
"We completed 16 leases in the Raleigh-Durham market in 2017, and 2018 is shaping up nicely," said Bryan Blythe, vice president of leasing and development for Liberty. "We were at full occupancy at the end of 2017 across the portfolio and look forward to delivering our newest project at 1955 T.W. Alexander Drive in Liberty Ridge this month as we continue to grow through development. The new building will feature 36' clear heights, which will be a first for the Raleigh-Durham market."
Significant 2017 Activity
Liberty leased a total of 633,931 square feet of space in the Triangle last year.
The company brought its new 126,000 square foot LEED® certified building at 1953 T.W. Alexander Drive to full occupancy with leases with Elite Flooring (42,000 square feet) and Park Communication (84,000 square feet.) The building is part of Liberty Ridge, a 36-acre industrial park between Page Road and Miami Boulevard.
Also in Liberty Ridge, IDI Distributors signed a new long-term lease for 29,160 square feet at the new 1951 T.W. Alexander Drive. When complete in the first quarter of 2018, Liberty Ridge will feature 457,500 square feet of state-of-the-art industrial facilities that can accommodate distribution, light assembly and manufacturing uses.
Liberty Carolinas Region Leases Two Million Square Feet in 2017
During 2017, Liberty leased a total of 2,068,567 square feet of space in the Carolinas region, which includes Charlotte, the Piedmont Triad, and Raleigh-Durham in North Carolina, and Greenville and Greer in South Carolina. The overall portfolio was 94.7% leased at the end of 2017. Overall, Liberty owns and manages more than 8.9 million square feet of industrial space in the Carolinas.
FIDELITONE helps clients earn their customers' loyalty through specialized services in last mile, materials management, order fulfillment, parts management and transportation. For more information, visit www.fidelitone.com.
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 101 million square foot portfolio includes 562 properties which provide office, distribution and light manufacturing facilities to 1,200 tenants.
General Inquiries: Bryan Blythe, Liberty Property Trust, 704.426.8000
Media Contact: Robbie Tarpley Raffish, a.s.a.p.r., 443.944.9301