Liberty Property Trust Sells Horsham, PA Portfolio

MALVERN, Pa., Dec. 04, 2015 (GLOBE NEWSWIRE) -- Liberty Property Trust (NYSE:LPT) today announced that it has closed on the sale of its entire portfolio of 41 properties in the Horsham, PA submarket totaling 2.4 million square feet of space and 20 acres of land, for proceeds of $245.3 million. The portfolio was purchased by Workspace Property Trust, a privately held, vertically integrated, full service commercial real estate company specializing in the development, management, and operation of office and flex space in the Northeast, and was 84.3% leased at closing.

The addresses of assets that were sold are attached to this release.

With this sale, Liberty’s 2015 dispositions to date total $536 million.

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 104 million square foot portfolio includes 689 properties which provide office, distribution and light manufacturing facilities to 1,650 tenants.

Property AddressTypeSF
680 Blair Mill RoadOffice115,110
455 Business Center DriveOffice51,505
555 Business Center DriveOffice30,064
700 Dresher RoadOffice110,000
747 Dresher RoadOffice53,200
767 Electronic DriveFlex45,000
100 Gibraltar RoadOffice2,800
101 Gibraltar RoadOffice56,845
110 Gibraltar RoadOffice59,429
120 Gibraltar RoadOffice49,023
200 Gibraltar RoadOffice64,452
201 Gibraltar RoadOffice46,697
220 Gibraltar RoadOffice63,587
240 Gibraltar RoadOffice63,587
103-109 Gibraltar RoadFlex42,000
111-159 Gibraltar RoadFlex63,036
161-175 Gibraltar RoadFlex49,732
181-187 Gibraltar RoadFlex48,870
231-237 Gibraltar RoadFlex60,000
261-283 Gibraltar RoadFlex60,000
100-107 Lakeside DriveOffice27,465
200-264 Lakeside DriveOffice54,623
300-309 Lakeside DriveOffice43,832
400-445 Lakeside DriveOffice62,123
506 Prudential RoadOffice18,200
507 Prudential RoadOffice100,710
102 Rock RoadFlex40,472
101-111 Rock RoadOffice37,884
113-123 Rock RoadOffice37,500
123-135 Rock RoadFlex37,500
2 Walnut Grove DriveOffice81,856
4 Walnut Grove DriveOffice109,700
5 Walnut Grove DriveOffice105,000
7 Walnut Grove DriveOffice120,000
132 Welsh RoadOffice45,200
300 Welsh RoadOffice33,205
300 Welsh Road - Building #3Office23,461
300 Welsh Road - Building #4Office37,653
100 Witmer RoadOffice139,128
104 Witmer RoadOffice24,300
201-223 Witmer RoadFlex60,000
Commonwealth Corp Ctr Lot 8Land20.35 acres

Inquiries: Jeanne Leonard Liberty Property Trust 610.648.1704

Source:Liberty Property Trust