Liberty Property Trust Leases 162,000 Square Feet in Shakopee
Eden Prairie, MN – October 5, 2017 - Liberty Property Trust today announced that it has signed a long-term lease with COKeM International LTD for 162,000 square feet of space at 5651 Innovation Boulevard, Valley Park Business Center, in Shakopee, Minnesota. Following the tenant’s move-in, which is slated for early spring, Liberty’s 197,000 square foot industrial building will be fully occupied.
“We had an opportunity to provide short-term space to COKeM in the fall of 2016 which created a great working relationship and an open line of communication when they were seeking a more permanent option. Thankfully, we were able to accommodate this request and retain an excellent tenant.” said Neal Driscoll vice president, market officer for Liberty Property Trust. “Our property at 5651 Innovation Boulevard was an ideal solution, offering the company newly constructed office space along with the bulk-warehouse square footage they required. We were also grateful for the help provided by Collier’s, who happened to represent both parties in the transaction, to negotiate a mutually beneficial agreement.”
COKeM International LTD is a leading full-service, value-added distributor of video games and accessories. The additional space will accommodate their expanding distribution and office requirements. COKeM’s headquarters are also located in Shakopee, MN only a few miles from Valley Park Business Center.
Collier’s International | Minnesota-St. Paul represented both companies in the lease transaction. Brad Bohlman represented COKeM while Bill Ritter, Eric Rossbach, and Ryan Krzmarzick worked with Adam Bray from Liberty Property Trust.
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 99 million square foot portfolio includes 560 properties which provide office, distribution and light manufacturing facilities to 1,200 tenants.
Released October 5, 2017