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SCOTTSDALE, AZ-Liberty Property Trust breaks ground today on a three-story, 123,000-sf office building to house the Vanguard Group Inc.’s call center expansion. The class A building will have a price tag of $15 million to $18 million, according to industry experts.

Malvern, PA-based Vanguard Group preleased the entire building, which will sit on 13 acres at 8501 E. Raintree Dr. next to the company’s Northsight Boulevard Campus, says a Liberty Property Trust spokeswoman. Vanguard Group committed to a 10-year term. According to the REIT, Vanguard Group is its largest tenant, occupying almost one million sf of office space in Liberty Property Trust’s suburban Philadelphia portfolio.

The building, designed by Tempe-based RSP Architects, features “green” features to earn LEED certification from the US Green Building Council. The project is believed to be the first LEED-certified development in the city. Minneapolis-based Kraus-Anderson Construction Co. is the general contractor. The building will deliver in May 2006.

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