Liberty Property Trust’s Newest Lease at Liberty Ridge Brings the Park to 100% Occupancy

Charlotte, NC – November 29, 2018 – Liberty Property Trust’s industrial space in the Raleigh-Durham market remains in high demand, as illustrated by a new lease and a renewal.

An apparel company has signed a new lease for 22,680 square feet at Liberty Ridge III (1955 T.W. Alexander Drive), one of four LEED® Certified buildings developed by Liberty in the park. The tenant will move in before the close of the year.

The lease brings Liberty Ridge Industrial Park to full occupancy. Butch Miller and Ann-Stewart Patterson of CBRE represented Liberty in the transaction.

“Industrial leasing in the Triangle, and the RTP submarket specifically, remains very strong due to its strategic location,” said Bryan Blythe, vice president of leasing and development. “The lease at Liberty Ridge brings our Raleigh-Durham portfolio to full occupancy.  We continue to seek out land opportunities to grow our development pipeline in the Triangle.”

In other news, a renewal at Keystone Technology Park keeps that campus fully leased as well. Lennox Industries renewed its lease for 24,000 square feet of space at 323 Park Knoll Drive. The company has been a tenant in the building since 2012. Blythe represented Liberty in the transaction.

About Liberty Property Trust

Liberty owns and manages over 1.8 million square feet of space in the Raleigh-Durham market and a total of more than nine (9) million square feet of industrial space in the Carolinas. In addition to the Triangle, the company has holdings in Charlotte and the Piedmont Triad in North Carolina and in Greenville-Spartanburg, South Carolina.

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 logistics, warehouse, manufacturing, and R&D facilities in key markets. Liberty's 103.5 million square foot operating portfolio provides productive work environments for 1,200 tenants.