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Press release from PR Newswire

Liberty Property Trust Completes Sale of Office and High-finish Flex Portfolio

Tuesday, April 03, 2012

Liberty Property Trust Completes Sale of Office and High-finish Flex Portfolio18:33 EDT Tuesday, April 03, 201249 assets sold in five marketsMALVERN, Pa., April 3, 2012 /PRNewswire/ -- Liberty Property Trust (NYSE: LRY) today announced that it has completed its anticipated sale of 49 properties totaling 2.5 million square feet of space in Wisconsin, Maryland, Virginia, North Carolina and New Jersey for approximately $195 million.  The properties consist primarily of single-story and mid-rise office buildings and high-finish flex properties. The properties were 83% leased when the transaction closed on April 3, 2012. "The completion of this sale furthers Liberty's strategic plan to decrease our exposure to the suburban office market, while increasing our industrial concentrations," said Mike Hagan, executive vice president and chief investment officer. "In the last 10 months we have completely exited the suburban office market in Milwaukee, Richmond, and Greensboro, and we have significantly decreased our office portfolio in New Jersey." About Liberty Property Trust Liberty Property Trust, headquartered in Malvern, PA, is dedicated to enhancing people's lives through extraordinary work environments. The real estate investment trust (REIT) serves customers in the United States and United Kingdom through the development, acquisition, ownership and management of superior office and industrial properties. Liberty's 77 million square foot portfolio offers exceptional locations and flexible design to 1,700 tenants in more than 600 properties. The company is a leader in the development of high performance green buildings. For more information please visit www.libertyproperty.com. Addendum: List of Properties SoldProperty Name and LocationBusiness ParkType Square Feet 7800 N. 113th Street, Milwaukee, WILiberty at Park PlaceOffice80,56911950 W. Lake Park Drive, Milwaukee, WILiberty at Park PlaceOffice35,74911400 W. Lake Park Drive, Milwaukee, WILiberty at Park PlaceFlex36,54511425 W. Lake Park Drive, Milwaukee, WILiberty at Park PlaceFlex35,81711301 W. Lake Park Drive, Milwaukee, WILiberty at Park PlaceFlex40,02011900 W. Lake Park Drive, Milwaukee, WILiberty at Park PlaceFlex36,52211414 West Park Place, Milwaukee, WILiberty at Park PlaceOffice86,72312100 West Park Place, Milwaukee, WILiberty at Park PlaceFlex56,29311100 West Liberty Drive, Milwaukee, WILiberty at Park PlaceOffice88,25911020 West Plank Court, Milwaukee, WITosa Business ParkOffice49,06111300-90 West Theodore Trecker, West Allis, WILiberty PointFlex39,92711548 West Theodore Trecker, West Allis, WILiberty PointFlex51,29211420 West Theodore Trecker, West Allis, WILiberty PointFlex25,00020935 Swenson Drive, Brookfield, WICrossroads Corporate CenterOffice71,27620975 Swenson Drive, Brookfield, WICrossroads Corporate CenterOffice71,20020825 Swenson Drive, Brookfield, WICrossroads Corporate CenterOffice39,72910050 S. 27th Street, Oak Creek, WICorporate PreserveOffice44,1602440 W. Corporate Preserve Dr., Oak Creek, WICorporate PreserveFlex68,7004050 Piedmont Parkway, High Point, NCMendenhall Business ParkOffice220,5624135 Mendenhall Oaks Parkway, High Point, NCMendenhall Business ParkOffice33,7584100 Mendenhall Oaks Parkway, High Point, NCMendenhall Business ParkOffice55,2504015 Meeting Way, High Point, NCMendenhall Business ParkOffice30,8444194 Mendenhall Oaks Parkway, High Point, NCMendenhall Business ParkOffice26,7524196 Mendenhall Oaks Parkway, High Point, NCMendenhall Business ParkOffice19,6474020 Meeting Way, High Point, NCMendenhall Business ParkOffice15,0004008 Mendenhall Oaks Parkway, High Point, NCMendenhall Business Park Retail12,8644160 Mendenhall Oaks Parkway, High Point, NCMendenhall Business ParkDistribution107,4804170 Mendenhall Oaks Parkway, High Point, NCMendenhall Business ParkFlex43,0404180 Mendenhall Oaks Parkway, High Point, NCMendenhall Business ParkFlex33,4404191 Mendenhall Oaks Parkway, High Point, NCMendenhall Business ParkFlex45,1009101, 9105, 9111,9115 Guilford Road, Columbia, MDRivers Technology ParkFlex53,0549125,9135,9145 Guilford Road, Columbia, MDRivers Technology ParkFlex85,2168945, 8955, 8965, 8975 Guilford Road, Columbia, MDRivers Business CommonsOffice101,596 7178-7180 Columbia Gateway, Columbia, MDFox Run Business CenterOffice88,8951001 Boulders Parkway, Richmond, VAThe BouldersOffice78,9957400 Beaufont Springs Drive, Richmond, VAThe BouldersOffice76,9811100 Boulders Parkway, Richmond, VAThe BouldersOffice133,302701A Route 73 South, Marlton, NJMarlton Executive ParkOffice93,766701C Route 73 South, Marlton, NJMarlton Executive ParkOffice27,8023000 Atrium Way, Mount Laurel, NJHorizon Corporate CenterOffice108,4162000 Crawford Way, Mount Laurel, NJHorizon Corporate CenterFlex74,013SOURCE Liberty Property TrustFor further information: George Alburger, Liberty Property Trust, +1-610-648-1777; Media: Robbie Tarpley Raffish, a.s.a.p.r., +1-443-944-9301