Liberty Property Trust Sells Horsham, PA Portfolio

Friday, December 4, 2015 1:30 PM UTC

MALVERN, Pa., Dec. 04, 2015 (GLOBE NEWSWIRE) -- Liberty Property Trust (NYSE:LPT) today announced that it has closed on the sale of its entire portfolio of 41 properties in the Horsham, PA submarket totaling 2.4 million square feet of space and 20 acres of land, for proceeds of $245.3 million. The portfolio was purchased by Workspace Property Trust, a privately held, vertically integrated, full service commercial real estate company specializing in the development, management, and operation of office and flex space in the Northeast, and was 84.3% leased at closing.

The addresses of assets that were sold are attached to this release.

With this sale, Liberty’s 2015 dispositions to date total $536 million.

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 104 million square foot portfolio includes 689 properties which provide office, distribution and light manufacturing facilities to 1,650 tenants.

Property Address	Type	SF
680 Blair Mill Road	Office	115,110
455 Business Center Drive	Office	51,505
555 Business Center Drive	Office	30,064
700 Dresher Road	Office	110,000
747 Dresher Road	Office	53,200
767 Electronic Drive	Flex	45,000
100 Gibraltar Road	Office	2,800
101 Gibraltar Road	Office	56,845
110 Gibraltar Road	Office	59,429
120 Gibraltar Road	Office	49,023
200 Gibraltar Road	Office	64,452
201 Gibraltar Road	Office	46,697
220 Gibraltar Road	Office	63,587
240 Gibraltar Road	Office	63,587
103-109 Gibraltar Road	Flex	42,000
111-159 Gibraltar Road	Flex	63,036
161-175 Gibraltar Road	Flex	49,732
181-187 Gibraltar Road	Flex	48,870
231-237 Gibraltar Road	Flex	60,000
261-283 Gibraltar Road	Flex	60,000
100-107 Lakeside Drive	Office	27,465
200-264 Lakeside Drive	Office	54,623
300-309 Lakeside Drive	Office	43,832
400-445 Lakeside Drive	Office	62,123
506 Prudential Road	Office	18,200
507 Prudential Road	Office	100,710
102 Rock Road	Flex	40,472
101-111 Rock Road	Office	37,884
113-123 Rock Road	Office	37,500
123-135 Rock Road	Flex	37,500
2 Walnut Grove Drive	Office	81,856
4 Walnut Grove Drive	Office	109,700
5 Walnut Grove Drive	Office	105,000
7 Walnut Grove Drive	Office	120,000
132 Welsh Road	Office	45,200
300 Welsh Road	Office	33,205
300 Welsh Road - Building #3	Office	23,461
300 Welsh Road - Building #4	Office	37,653
100 Witmer Road	Office	139,128
104 Witmer Road	Office	24,300
201-223 Witmer Road	Flex	60,000
Commonwealth Corp Ctr Lot 8	Land	20.35 acres

Inquiries:
Jeanne Leonard
Liberty Property Trust
610.648.1704

Editor's Picks

Breathing through your nose when you exercise may make your runs easier

Entrepreneurs are facing a mental health crisis — here's how to help them

Are fish oil supplements as healthy as we think? And is eating fish better?

Will AI kill our creativity? It could – if we don’t start to value and protect the traits that make us human

Does AI have a right to free speech? Only if it supports our right to free thought

How can I lower my cholesterol? Do supplements work? How about psyllium or probiotics?

Why we need to set limits on sperm donation

Aging with a healthy brain: How lifestyle changes could help prevent up to 40% of dementia cases

Seven techniques to avoid weight regain, approved by experts

Liberty Property Trust Sells Horsham, PA Portfolio

Editor's Picks

Welcome to EconoTimes