Liberty Property Trust Announces Sale of Suburban Philadelphia Office Properties for $173.1 Million
WAYNE, Pa., Nov. 12, 2018 (GLOBE NEWSWIRE) -- Liberty Property Trust has sold four fully-leased office properties comprising 568,658 square feet in Malvern, Pennsylvania for $173.1 million. The properties consist of: 50 Morehall Road, 117,000 square feet; 60 Morehall Road, 117,000 square feet; 425 Old Morehall Road, 201,658 square feet; and 1001 Cedar Hollow Road, 133,000 square feet. With this transaction, Liberty has executed $742.4 million in office sales in 2018.
CBRE Capital Markets’ Institutional Properties team, led by Robert Fahey and supported by Jerry Kranzel, Erin Hannan and Jack Corcoran, represented Liberty in the marketing and sale negotiations.
About the Company
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 logistics, warehouse, manufacturing, and R&D facilities in key markets. Liberty's 103.5 million square foot operating portfolio provides productive work environments for 1,200 tenants.
Inquiries: Jeanne Leonard, Liberty Property Trust, 610.648.1704Source: Liberty Property Trust
Released November 12, 2018