Liberty Property Trust Announces Development Plans for a 172,000 Square Foot Speculative Class A Industrial Project in Milwaukee

Development of the final pad in Liberty Corporate Preserve in Oak Creek to commence late spring

ELK GROVE VILLAGE, IL - March 28, 2014 - Liberty Property Trust today announced its plans for a 172,000 square foot Class A industrial building in Oak Creek, with direct access to I-94. The project marks the largest speculative industrial development in Milwaukee in more than five years, and will be available for occupancy in late Fall 2014.

"We arevery excited to be first out of the gate on a large, Class A industri al speculative building in Milwaukee. Wisconsin's commitment to its transportation infrastructure, particularly its rapid reconstruction and improvements to Interstate 94, p rove its 'Open for Business' statement ," said Neal Driscoll, vice president of leasing and development in the region. "Bisected by I-94, Oak Creek is an excellent location for regional distribution to the Milwaukee Metropolitan market, as well as its proximity to the continuously grow ing Chicago footprint.  We look forward to delivering a high-quality industrial building to fill a h ole in the current marketplace."

The new building will feature advanced fire suppression systems, 200' depth, 30' clear height, 50x50 column spacing, the ability to accommodate high levels of office build-out, a shared 200-foot truck court and extensive parking.

"This investment is yet another indication of the momentum and strength of the Oak Creek market," said Steve Scaffidi, Mayor of Oak Creek. "We look forward to working with Liberty Property Trust as they join the growing list of companies choosing to do business in Oak Creek."

The architect for the development project is Stephen Perry Smith Architects, Inc., the engineer is R.A. Smith National, Inc. and the general contractor has yet to be named. Neal Driscoll, vice president of development, is Liberty's project manager. 

"Wh ile speculative developmentactivity has returned in many of the country's primary industrial markets including Chicago, where Liberty now operates its southeast Wisconsin assets, secondary markets like Milwaukee have been slow to respond despite very strong fun damentals," notes Driscoll. "But with a significant shortage of well located, flexible, Class A industrial space in the market , the time is right for Liberty to speculate on industrial development."

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 100 million square foot portfolio includes 746 properties which provide office, distribution and light manufacturing facilities to 1,800 tenants.

General Inquiries: Neal Driscoll, Liberty Property Trust, 847.264.2131

Media Contact: Margo Hunt Winans, a.s.a.p.r., 757.404.8653


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