PHILADELPHIA-Liberty Property Trust and Synterra Partners just started work here on two flex buildings in the Navy Yard. The buildings, to total 103,137 square feet, are located at 4000 and 4050 S. 26th St.
Liberty already has a lease commitment for one of the properties. The Fretz Corp., an appliance distributor of such brands as Scotsman, Sub-Zero and Wolf, signed a 22,391-square-foot lease at the 4050 building.
As part of the project, Liberty and Synterra completed $25 million of infrastructure improvements in the area. Additionally, the City of Philadelphia, using funds from the Recovery Zone Utility Bonds, is contributing $16 million to the project.
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