Liberty Property Trust Acquires Five Industrial Buildings in Durham

     Liberty Property Trust Acquires Five Industrial Buildings in Durham

Company expands its footprint in the Triangle market

PR Newswire

MALVERN, Pa., June 12, 2014

MALVERN, Pa., June 12, 2014 /PRNewswire/ -- Liberty Property Trust today
announced the acquisition of five Class A industrial buildings in Durham,
North Carolina, for $44 million. Together the acquisition totals 705,365
square feet, bringing the company's overall portfolio in the Triangle market
to 1.4 million square feet.

Known as Imperial Center, the newly acquired buildings are located at 4226
Surles Court, 4234 Surles Court, 4227 Surles Court, 4300 Emperor Boulevard,
and 1000 Parliament Court with immediate access to I-40 and I-540. The
buildings are located within five miles of the Raleigh-Durham International
Airport and are 100% occupied.

"The strategic location of the Imperial Center, stellar fundamentals of the
market, and the high quality tenants are in line with our desire to expand our
Carolinas footprint in the Triangle market," said Massie Flippin, vice
president and city manager for Liberty's Carolina's region.

The acquisition also complements the company's nearby Keystone Business Park
portfolio, which is 100% occupied.

The Cushman & Wakefield, Thalhimer Capital Markets team represented the
seller, Crown Realty & Development, on this transaction. The Thalhimer team
included Chris Norvell, Bill Simeville, Scott Humphrey, David Meline, and
Patrick Nally. Liberty represented itself in the transaction.

"It was vital we found a buyer that is both capable and committed to the long
standing traditions of excellence associated with the Imperial Center. Liberty
certainly fits that requirement," said Kreg Groat, executive vice president of
Crown Realty & Development.

Upon transaction closing, Liberty will own seven million square feet of
multi-tenant industrial space in the Carolinas.In North Carolina, the company
owns 1.4 million square feet in Raleigh, 1.9 million square feet in the
Piedmont Triad, and 2.6 million square feet in Charlotte. In addition, it owns
1.1 million square feet in the Greenville, South Carolina market.

About Liberty Property Trust
Liberty Property Trust (NYSE:LPT) is a leader in commercial real estate,
serving customers in the United States and United Kingdom through the
development, acquisition, ownership and management of superior office and
industrial properties. Liberty's 101 million square foot portfolio includes
more than 700 properties which provide office, distribution and light
manufacturing facilities to 1,800 tenants.



SOURCE Liberty Property Trust

Website: http://www.libertyproperty.com
Contact: Inquiries: George Alburger, Liberty Property Trust, 610.648.1777; or
Media Contact: Margo Winans, a.s.a.p.r., 757-404.8653
 
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