MALVERN, PA—Liberty Property Trust has begun development of eight industrial projects totaling 2.2 million square feet so far in the third quarter. Liberty says the starts represent a projected total investment of $150 million. Liberty also said it completed two large leases totaling 1.2 million square feet in industrial properties in Pennsylvania.
Third Quarter Industrial Development Starts
- 11835 Newgate Boulevard, Hagerstown, MD, a 615,600 square foot distribution facility, 100% pre-leased.
- 140 Caliber Ridge, Greer, SC, a 156,000 square foot distribution building for Bosch Security Systems, which will lease the entire building.
- 120 Caliber Ridge, Greer, SC. Pilot Freight had signed a lease for 41,600 square feet of this 156,000 square foot multi-tenant industrial building.
- 10020 South Reinhart Drive, Oak Creek, WI, a 171,114 square foot multi-tenant industrial building.
- 333 Howard Street, Des Plaines, IL, a 235,781 square foot distribution building.
- Miami International Tradeport Building B, Medley, FL, a 147,840 square foot multi-tenant industrial building.
- 11000 Holly Lane, Dayton, MN, a 247,000 square foot multi-tenant industrial building.
- 300 North Mitchell Road, North Aurora, IL, a 429,756 square foot distribution building. This project is being developed by a joint venture in which Liberty holds a 25 percent interest.
Significant Industrial Leases Signed
- Online retailer zulily has signed a long-term lease for 10 Emery Street, an 800,000 square foot distribution building in Bethlehem, PA, Construction began during the second quarter. The lease is expected to commence in the first quarter of 2015.
- Liberty has leased the remaining 421,200 square feet of space at 40 Logistics Drive, Carlisle PA, to fine chocolate manufacturer, Lindt and Sprungli (USA). The lease is expected to start in the first quarter of 2015.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
