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Liberty Property Trust Completes Sale of Hampton Roads Office Portfolio

MALVERN, Pa., June 24, 2015 (GLOBE NEWSWIRE) -- Liberty Property Trust (NYSE:LPT) today announced that it has closed on the sale of its entire office and flex portfolio of 22 properties in the Hampton Roads region totaling 1.3 million square feet of space and 3.099 acres of land, for proceeds of $110.3 million. The portfolio was purchased by Lingerfelt CommonWealth Partners, and was 89.1% leased at closing.

The assets that were sold are the following:

Property AddressCityTypeSF
1301 Executive BoulevardChesapeakeOffice 50,020
1305 Executive BoulevardChesapeakeOffice 49,865
1309 Executive BoulevardChesapeakeOffice 49,870
1313 Executive BoulevardChesapeakeOffice 49,870
1317 Executive BoulevardChesapeakeOffice 73,583
500 Independence ParkwayChesapeakeOffice 51,000
501 Independence ParkwayChesapeakeOffice 61,146
505 Independence ParkwayChesapeakeOffice 63,568
510 Independence ParkwayChesapeakeOffice 97,081
676 Independence ParkwayChesapeakeOffice 73,345
700 Independence ParkwayChesapeakeOffice 96,260
1 Enterprise ParkwayHamptonOffice 63,029
21 Enterprise ParkwayHamptonOffice 75,915
22 Enterprise ParkwayHamptonOffice 72,444
5 Manhattan SquareHamptonOffice 17,068
521 Butler Farm RoadHamptonOffice 44,651
Lakefront Plaza II LandHamptonLAND -
200 Golden Oak CourtVirginia BeachOffice 74,290
208 Golden Oak CourtVirginia BeachOffice 63,825
1457 Miller Store RoadVirginia BeachFlex 65,192
629 Phoenix DriveVirginia BeachFlex 24,549
2809 South Lynnhaven RoadVirginia BeachOffice 62,924
484 Viking DriveVirginia BeachOffice 39,804


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 105 million square foot portfolio includes 750 properties which provide office, distribution and light manufacturing facilities to 1,900 tenants.


Inquiries: Jeanne Leonard, Liberty Property Trust, 610.648.1704

Source:Liberty Property Trust