Liberty Property Trust COO Fenza to Retire

MALVERN, PA—Liberty Property Trust reports that Chief Operating Officer Robert E. Fenza will retire at the end of this year.

Fenza joined Liberty's predecessor company, Rouse & Associates, in 1984 and was responsible for establishing Liberty's position as the leading industrial developer in the Lehigh Valley market of Pennsylvania, company officials say. Later promoted to executive vice president for operations, he was appointed chief operating officer in 2000.

He will step down from his post on December 31, but will continue with Liberty in an advisory capacity to assist with transition activities until March 31, 2015. Fenza is retiring in order to devote more time to public service.

"For thirty years, Rob has been uniquely dedicated to making Liberty a better developer, a better operator, a better corporate citizen, a better company," says Bill Hankowsky, chairman and chief executive officer. "He has instilled in the organization a unique sense of enthusiasm for the real estate business and has groomed the next generation of developers, managers and leasing professionals to drive the company's future success. Rob will be missed, but his influence will remain through those who will be picking up his reins."

The five department and regional managers that have historically reported to Fenza, together with the company's Chief Investment Officer Mike Hagan, now constitute a new Real Estate Operating Committee for oversight of the company's operations. The members of this committee will report directly to Hankowsky, but will have significant decision-making authority and members will participate in the investment process.