Liberty Property Trust isturning its acquisition focus to L.A. While the industrial REIT hasowned properties in Southern California for four years, it islooking to increase its exposure to the market. Since September2017, the firm has acquired four industrial properties in thegreater L.A. area, including a 400,000-square-foot facility in theCity of Commerce for $92 million. To find out more about the firm'sL.A. strategy, we sat down with Erin Plourde, VPof Acquisitions at Liberty Property Trust, for aninterview.

GlobeSt.com: You have done four industrialtransactions in the Southern California market since September. Whyare you looking to increase your exposure in SouthernCalifornia?

Erin Plourde: We entered the market alittle more that four years ago now when we bought a largerportfolio from Cabot. That gave us 600,000-square feet in thismarket. As a company, we have been shifting our focus. We were anoffice and an industrial REIT, and we have been shifting that focusto be a true industrial player. In order to do that, we have beenselling some of our suburban office and growing it on theindustrial side. As a large industrial REIT, we knew that we neededto be in some of those major industrial markets, which includesSouthern California. That is why it has been a focus for usrecently to continue to grow out here.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.