July 27, 2016 |
Liberty Property Trust is under agreement to sell much of its holdings in the Great Valley Corporate Center, the pioneering Chester County business park that transformed Malvern and made the developer into a major regional office landlord. The company is selling 26 Great Valley properties, accounting for more than a million square feet of office and light-industrial space, to Horsham-based Workspace Property Trust, Liberty announced Monday. The properties are part of a $969 million deal covering 7.6 million square feet across 108 suburban properties in Pennsylvania, Arizona, Florida, and Minnesota, Liberty said.
May 11, 2016 |
George J. Alburger Jr. is stepping down from his position as executive vice president and chief financial officer of Liberty Property Trust, the Malvern-based real-estate development company said in a release on Monday. Alburger will be replaced by Christopher J. Papa, who serves in that position at Post Properties Inc. of Atlanta, effective June 1, Liberty said. Alburger has served as Liberty's CFO since 1995 and will remain with the company in an advisory capacity and to assist with the transition until the end of the year, according to the release.
April 28, 2016 |
Liberty Property Trust has sold eight properties in Delaware, Florida and Minnesota for $131.1 million during the first three months of 2016, the company said in a financial report on its website Tuesday. The six office buildings and two industrial properties account for around 849,000 square feet, the Malvern-based company said. A joint venture in which Liberty holds a 25 percent interest also sold another seven Virginia office buildings for $146.6 million, it said. The company plans to sell between $900 million and $1.2 billion worth of suburban properties outside of its core business areas this year, it said.
March 9, 2016 |
Penn Capital Management Co. has agreed to lease 26,000 square feet at the 1200 Intrepid Avenue office building now under construction at the Philadelphia Navy Yard, according to developer Liberty Property Trust. Penn Capital will expand in the summer from a smaller space at another Navy Yard office building to 1200 Intrepid, designed by Denmark's Bjarke Ingels Group, Liberty said in a statement on Monday. The investment management firm's lease at 1200 Intrepid is the first to be announced at the 92,000-square-foot, four-story building, which Liberty began building in June.
February 19, 2016 |
Liberty Property Trust of Malvern has sold eight properties in three different states, including an industrial building in Delaware, for $131.1 million, the company said in a release Wednesday. Newark, Del.'s 183,235-square-foot 220 Lake Drive building sold for $10.1 million, Liberty said. Other sales included five office properties and about four acres of land in Tampa, Fla.; an industrial building in Deerfield Beach, Fla.; and an office building in Minnetonka, Minn. The properties were sold to four separate buyers, whom Liberty spokeswoman Jeanne Leonard declined to identify.
February 14, 2016 |
Liberty Property Trust has received its first approvals from Camden's Planning Board for the $1 billion mixed-use project it plans along the Delaware waterfront. The board granted approval Thursday for Liberty's subdivision plan for 16 waterfront acres and for the development's first office building, a five-story, 219,000-square-foot structure being designed by Robert A.M. Stern, said John Gattuso, Liberty's regional director. The plans also need to be be approved by the Camden City Council.
December 6, 2015 |
Former Mack-Cali Realty Corp. chief executive officer Thomas Rizk is betting that suburban office parks still have some life left in them with the $245.3 million acquisition of a 41-building corporate center in Horsham. Workspace Property Trust (WPT), of which Rizk now is chief executive, bought the Pennsylvania Business Campus from Malvern's Liberty Property Trust, the companies said in separate releases Friday. It is WPT's first step toward building a portfolio of suburban real estate in the northeastern United States, Rizk said.
July 1, 2015 |
Liberty Property Trust is set to break ground Tuesday on a 94,000-square-foot office building at the Navy Yard designed by the architect behind Two World Trade Center, a plan that is among the developer's boldest bets yet on the sprawling business center. The building at 1200 Intrepid Ave., fronting a five-acre park by the designer of the High Line in New York, would contain the most office space that Liberty has started at the South Philadelphia complex without a tenant in place.