Liberty Property Trust Brings Worldwide Express to 1200 Intrepid Avenue in the Navy Yard
Philadelphia, PA – September 6, 2018 – Liberty Property Trust has leased 4,612 square feet at 1200 Intrepid Avenue to Worldwide Express, one of the top logistics companies in North America.
“We would like to welcome Worldwide Express to the Navy Yard,” said Brian Cohen, vice president and market officer for Liberty Property Trust. “They have chosen an exceptional property in 1200 Intrepid, both for its amazing design and its well placed position fronting Central Green. Worldwide Express’ employees and visitors are in an ideal location to take advantage of all that the Navy Yard has to offer.”
Worldwide Express, headquartered in Dallas, TX, is the country’s second-largest privately-held, third-party freight brokerage company with 100 offices nationwide. The new location will be home to its outside sales team which will be relocating from Center City. The team’s open floor plan will take advantage of the natural light provided by the building’s floor-to-ceiling windows with space allotted for shuffleboard and ping-pong tables to help foster the spirit of camaraderie as well as competition. Worldwide Express has other Pennsylvania locations in Allentown and Harrisburg.
“We were drawn to the Navy Yard because it offers the best of both worlds with its city vibe and campus feel,” said Chet Stachitas, senior area sales manager for Worldwide Express. “There is no other place in the city that offers the same benefits including amenities like Central Green, convenient parking and the opportunity to be the first tenant to occupy our space in such an exceptional building. We feel like the new environment will reenergize our team.”
Upon the move in this fall, Worldwide Express will join existing tenants, Penn Capital Management, EMD Performance Materials, Paramount Enterprises International, and Insperity, Inc. The new agreement brings Liberty’s 1.58 million square foot portfolio at the Navy Yard to 99% leased. One vacancy remains at 1200 Intrepid which is the full 23,000 square foot second floor of this trophy quality building possessing Keystone Opportunity Zone benefits.
1200 Intrepid Avenue
The four-story, 92,000 square foot building at 1200 Intrepid is Liberty’s sixteenth at the Navy Yard, and the first building in the City of Philadelphia to be designed by the world-renowned architecture firm Bjarke Ingels Group. The gravity-defying design was envisioned to connect and communicate with the adjacent park, Central Green. The building’s east façade is curved and bows inward at the ground plane in a gesture reminiscent of the park’s circular running track, activity pods and planting vignettes. Located in the Navy Yard Corporate Center, the building has achieved LEED® Gold certification.
The Navy Yard
The Navy Yard is considered the most successful redevelopment of a former military facility in the country. A thriving riverfront neighborhood, the Navy Yard currently features more than 7.5 million square feet of buildings housing 13,000 employees working at 150 companies. Home to historic structures and new high-performance and LEED certified development, the Navy Yard offers diverse, flexible building choices with varying heights, vintages, and floorplates, all powered by a nationally-recognized microgrid and oriented around miles of riverfront access and world-class open space. Future growth will support up to 10 million square feet of commercial and residential development. PIDC, Philadelphia’s public-private economic development corporation, is the master developer of The Navy Yard. For more information, please visit www.navyyard.org.
The Navy Yard Corporate Center
The Navy Yard Corporate Center is a master-planned development within the Navy Yard featuring state-of-the-art, sustainable multi-tenant and build-to-suit commercial space, developed and owned by Liberty Property/Synterra, L.P., a joint venture between Liberty Property Trust and Synterra Partners. During the last fourteen years, Liberty has developed 11 properties in the Navy Yard Corporate Center for an investment of $242 million. Additionally at the Navy Yard, Liberty has developed one building in the Historic Core and four buildings at the Commerce Center representing an additional investment of $119 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 103 million square foot portfolio provides productive work environments for 1,200 tenants.
About Worldwide Express
Worldwide Express is a full-service, non-asset logistics provider offering more than 90,000 customers access to industry-leading small package, less-than-truckload and truckload shipping solutions. Worldwide Express and Unishippers, under common ownership, are the largest non-retail reseller of UPS® shipping services, operating from more than 200 company and franchise locations across the country. Worldwide Express is a local partner for the global supply chains of small- to medium-sized businesses nationwide. This, coupled with a selective portfolio of 50 LTL and thousands of full truckload carriers, ensures customers an unmatched range of options and flexibility to meet their shipping needs. To learn more about Worldwide Express, please visit www.wwex.com.
Released September 6, 2018