MALVERN, PA—Liberty Property Trust has begundevelopment of eight industrial projects totaling 2.2million square feet so far in the third quarter.Liberty says the starts represent a projectedtotal investment of $150 million. Liberty alsosaid it completed two large leases totaling 1.2 million square feetin industrial properties in Pennsylvania.
ThirdQuarter Industrial Development Starts
- 11835 Newgate Boulevard,Hagerstown, MD, a 615,600 square foot distribution facility,100% pre-leased.
- 140 Caliber Ridge, Greer,SC, a 156,000 square foot distribution building for BoschSecurity Systems, which will lease the entire building.
- 120 Caliber Ridge, Greer,SC. Pilot Freight had signed a lease for 41,600 square feet ofthis 156,000 square foot multi-tenant industrial building.
- 10020 South Reinhart Drive, OakCreek, WI, a 171,114 square foot multi-tenant industrialbuilding.
- 333 Howard Street, Des Plaines,IL, a 235,781 square foot distribution building.
- Miami International Tradeport BuildingB, Medley, FL, a 147,840 square footmulti-tenant industrial building.
- 11000 Holly Lane, Dayton,MN, a 247,000 square foot multi-tenant industrialbuilding.
- 300 North Mitchell Road, NorthAurora, IL, a 429,756 square foot distribution building. Thisproject is being developed by a joint venture in which Libertyholds a 25 percent interest.
SignificantIndustrial Leases Signed
- Online retailer zulily has signed a long-termlease for 10 Emery Street, an 800,000square foot distribution building in Bethlehem, PA, Constructionbegan during the second quarter. The lease is expected to commencein the first quarter of 2015.
- Liberty has leased the remaining 421,200square feet of space at 40 LogisticsDrive, Carlisle PA, to fine chocolatemanufacturer, Lindt and Sprungli(USA). The lease is expected to start in the first quarterof 2015.
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