The property is the newest building in Liberty's 650-acre, master-planned Great Valley Corporate Center, which is the locally based REIT's largest suburban project. There's room for one more, and Tom Sklow, Liberty's VP of leasing and development, tells GlobeSt.com, it will be "the crowning achievement of Bill Rouse's vision for the center," referring to the company's late CEO, who, after his death, was succeeded by Bill Hankowsky.

Located at Three Quarry Ridge at the entryway to the center, Sklow says it will be a six-story 200,000-sf office building, constructed to meet LEED green building certification standards. "At six stories, overlooking a lake, it will be the center's flagship property," he says. "We are preleasing now, and, as soon as we get a lead tenant of about 50,000 sf, we'll break ground." He says the asking rent is between $30 per sf and $32 per sf, plus electric.

"If we had space left in Two W. Liberty Blvd.," he adds, "the rate in that building would be $28 per sf, plus electric," which makes it the most expensive existing building in the center. The four new tenants leased an aggregate of 16,653 sf.