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Liberty Property Trust

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BUSINESS
July 1, 2015 | By Jacob Adelman, Inquirer Staff Writer
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.
NEWS
February 14, 2016 | By Jacob Adelman, STAFF WRITER
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.
BUSINESS
December 6, 2015 | By Jacob Adelman, Inquirer Staff Writer
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.
BUSINESS
July 27, 2016 | By Jacob Adelman, Staff Writer
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.
NEWS
April 15, 1999 | By Lisa Shafer, INQUIRER SUBURBAN STAFF
A developer has proposed a $7 million commercial complex south of the Keystone Industrial Park that could support up to 450 employees. Officials from Liberty Property Trust, the Malvern-based developer and property manager that built the Great Valley Corporate Center in Malvern, said the company wanted to build three commercial buildings at Grundys Lane and Newportville Road. They will submit plans to the Bucks County Planning Commission today, said Craig Cope, a Liberty marketing representative.
BUSINESS
February 3, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
The pending sale of the Fort Washington Expo Center has Montgomery County tourism officials scrambling to find a place to house the 100 consumer and trade shows the building plays host to annually. The Valley Forge Convention & Visitors Bureau said yesterday that the center was being bought by Liberty Property Trust, of Malvern, and would be turned into office space. "We knew it was in the works, and you try to steel yourself for it, but it's still a shock - a reality shock," bureau president Paul Decker said yesterday.
BUSINESS
September 23, 2004 | By Henry J. Holcomb INQUIRER STAFF WRITER
Pulling levers on a towering crane, Mayor Street drove the first foundation pile for an office building yesterday at the old Philadelphia Navy Base. It is the first building from a master plan unveiled Sept. 8, a plan that envisions transforming the sprawling base into a modern community where, a decade from now, as many as 30,000 people may work and many others could live, dine, study and play. "The Navy Yard can be a catalyst that causes people to focus on the opportunities on the city's waterfront.
BUSINESS
May 22, 2000 | By Henry J. Holcomb, INQUIRER STAFF WRITER
For 18 months, Liberty Property Trust, one of the region's largest commercial property owners, has been asking tenants how it could become a better landlord. Its executives are hearing that most want their suburban office parks to be, well, less suburban. Tenants want it to be more like the city. They want more contact with nearby businesses, and more social life, softball leagues and golf tournaments. "We were surprised," said Robert E. Fenza, chief operating officer of the Malvern company.
BUSINESS
September 10, 2001 | By Henry J. Holcomb INQUIRER STAFF WRITER
The first work on what could be Philadelphia's next skyscraper has started behind a temporary wall inside Vincent's Barber Shop at Suburban Station. For several weeks, the subterranean shop will be half its usual size, and barbers will lack their usual elbow room. "It's more crowded than I like," said Giovani Strazzeri, one of the 70-year-old shop's veteran barbers. But he is smiling, cutting hair, and looking forward to customers who will come if Liberty Property Trust goes ahead with plans to build a 52-story office tower on the land above.
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BUSINESS
July 27, 2016 | By Jacob Adelman, Staff Writer
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.
BUSINESS
May 11, 2016 | By Jacob Adelman, STAFF WRITER
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.
NEWS
April 28, 2016 | By Jacob Adelman, STAFF WRITER
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.
NEWS
March 9, 2016 | By Jacob Adelman, STAFF WRITER
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.
NEWS
February 19, 2016 | By Jacob Adelman, STAFF WRITER
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.
NEWS
February 14, 2016 | By Jacob Adelman, STAFF WRITER
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.
BUSINESS
December 6, 2015 | By Jacob Adelman, Inquirer Staff Writer
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.
BUSINESS
July 1, 2015 | By Jacob Adelman, Inquirer Staff Writer
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.
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