DALLAS, TX - October 29, 2014 -Liberty Property Trust today announced the acquisition of 43 acres of land in Irving, Texas. The two adjacent parcels are situated at 1101 Valley View Lane and 5328 Frye Road. The land purchase marks the company's entrance into Dallas Great Southwest Sub-Market (DSW).

"This is a great time to enter the Southwest market and this parcel offers excellent accessibility south of Dallas/Fort Worth. The market is strong and the acquisition provides a new platform for development, as opportunities in the Central Dallas Metroplex are limited," said Mike Heise, vice president and city manager for Liberty's Dallas region. 

Liberty has begun to market several parcels of the land for speculative development with expected delivery in 3Q 2015. Liberty will phase the project development over the next two years, with a potential 750,000 square feet of industrial product.

Across the portfolio, Liberty owns more than 1.86 million square feet of multi-tenant industrial space in Dallas. The company's 14 buildings range in size from 56,531 to 360,000 square feet across the region.

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 105 million square foot portfolio includes more than 750 properties which provide office, distribution and light manufacturing facilities to 1,800 tenants. 

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