Liberty Property Trust Sells Suburban Philadelphia Office Properties for $106.9 Million
MALVERN, Pa., March 16, 2018 (GLOBE NEWSWIRE) -- Liberty Property has sold 779,190 square feet of suburban office properties in two transactions for $106.9 million. Both transactions closed this week.
In the first transaction, Liberty sold 9, 15-25 and 11 Great Valley Parkway in Malvern, PA. The properties totaled 186,248 square feet, and were sold for $14.9 million.
The properties in the second transaction are 440 and 460 E. Swedesford Road in Wayne, PA; 2100 and 2201 Renaissance Boulevard in King of Prussia, PA; 45 Liberty Boulevard and 300, 400 and 500 Chesterfield Parkway in Malvern, PA. They total 592,942 square feet, and sold for $92 million.
In addition, Liberty has sold one 80,000 square foot industrial building at 301 Hill Carter Parkway in Richmond, VA for $7 million. With these sales, Liberty's 2018 dispositions to date total $190.8 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 industrial and office properties. Liberty's 100 million square foot portfolio includes 554 properties which provide distribution, light manufacturing and office facilities to 1,200 tenants.
Inquiries: Jeanne Leonard, Liberty Property Trust, 610.648.1704Source: Liberty Property Trust
Released March 16, 2018