TEMPE, AZ-Liberty Property Trust has announced plans to develop a sustainable mixed-use business park to be situated on 100 acres. The park, dubbed "Liberty Center at Rio Salado," will offer a mix of office, flex and industrial space, as well as retail and hotel components. Furthermore, if all goes according to plan, Liberty could break ground on its first speculative building later this year.
LPT acquired 80 acres at Priest Road and Rio Salado Parkway from the city of Tempe in February. According to a press release, Liberty has the option to purchase 20 additional acres once development has launched.
“After several years of continued success at our nearby Liberty Cotton Center , we sought opportunities that would allow us to continue to offer national and regional tenants opportunities to relocate to or expand,” comments John DiVall, senior vice president and city manager for Liberty's Arizona region in a press release.
Liberty Property Trust currently owns and manages more than two million square feet of space in Phoenix, Tempe, Goodyear and Tolleson. Some of its holdings include Liberty Cotton Center, Liberty 303 Business Park, Liberty Tolleson Center, Liberty Sky Harbor Center, and the LEED Gold and Energy Star certified 8501 East Raintree Drive office building.
An update to this story will follow shortly.
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