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MALVERN, PA-Liberty Property Trust has recently signed 14 leases for an aggregate of more than 200,000 sf of office and R&D space in Great Valley Corporate Center. This takes occupancy in the 650-acre, master-planned center to 98%.

The Great Valley asset in the locally based REIT’s own backyard is its flagship complex. And, with an aggregate of five million sf, it is also the company’s largest suburban business center. It anchors the Route 202 tech corridor, and the recent activity, which includes renewals, expansions and new tenants, exemplifies the accelerated absorption in this submarket that began occurring in 2005.

Tom Sklow, Liberty’s VP of leasing and development, tells GlobeSt.com, the market has been healthy, and says he looks forward to adding “two more points.” In a complex of this size, that calls for another 100,000 sf. The largest of the renewals are 70,000 sf by Systems & Computer Technology Corp. at Three Country View Rd. and McKesson Information Solutions’ renewal and expansion to 63,170 sf, which is the entire building at Five Country View Rd.

Fujirebio Diagnostics expanded to 22,000 sf at 205 Great Valley Parkway, and Gemin X expanded and relocated from 4,812 sf at Five Great Valley Pkwy to 10,879 sf at 400 Chestfield Pkwy. Three new tenants more than took up the vacated space at the Five Great Valley address. They are Promedior for 3,975 sf, Inventiv Clinical Solutions for 3,225 sf, and Xoxide for 1,885 sf.

Values of the leases are undisclosed. Published rates on the Liberty website for class A properties typically range from $19 per sf to $22 per sf. The rate for Two W. Liberty Blvd., however, where a new tenant, Voveo Marketing Group, inked a lease, is listed at between $22.50 per sf and $26 per sf.

Great Valley includes several hotels, day care centers, a fitness club and a shopping center. Local campuses of Penn State University, Drexel University’s LeBow School of Business and Temple University’s Fox School of Business are also located in the center.

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