This represents "an all-time high in terms of investment, and isexceptionally well leased," said Bill Hankowsky, CEO during a Q4,year-end conference call. During Q4, the locally based developerbrought four new properties aggregating 650,000 sf into service atan investment of $51.2 million, and they are 93.9% leased.

At the same time, Liberty began development of eight propertiestotaling one million sf at an estimated investment of $62 million.They include a fully leased distribution facility in the LehighValley, five properties in Orlando, one in Bloomington, MN, and a341,000-sf distribution center in Greensboro, NC.

The developer now has 38 buildings under construction in 18markets, and they are 50% leased, Hankowsky said. Nine areregistered for LEED certification. He said the developments have a"low risk profile," because of the diversity of markets and producttype, which includes office, industrial and flex.