Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MALVERN, PA-Locally based Liberty Property Trust’s second-quarter investments total $147 million. Included are six developments aggregating 512,000 sf in a mix of build-to-suit and spec-built construction at an aggregate cost of $95 million and the acquisition of two Orlando office properties aggregating 257,000 sf for $52 million. The Orlando properties at Maitland Summit Park are 100% leased and include 10 acres of land.

Among the largest of properties under development is a 123,000-sf office building adjacent to Vanguard Group’s Northsight Boulevard Campus in Scottsdale, AZ. The building is fully leased to Vanguard for 10 years. Valley Forge-based Vanguard, which has assets of more than $800 billion in US mutual funds, is Liberty’s largest tenant. It occupies almost one million sf of office space in the REIT’s suburban Philadelphia portfolio.

A 120,000-sf build-to-suit distribution facility is under way in Greenville, SC for Germany-based Bosch Rexroth, a global supplier of hydraulics. Liberty is also building a 29,000-sf office building in Greenville, which Jeanne Leonard, VP of investor relations, tells GlobeSt.com is a spec property, as are the three other properties currently under development, she says.

Of those, two are in Pennsylvania. They are a 110,000-sf office property in Newtown and a 75,000-sf office building at Stabler Corporate Center in the Lehigh Valley. In addition, a 55,000-sf office building is under development at Kings Hill in West Malling in the UK.

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

Once you are an ALM digital member, you’ll receive:

  • 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

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.