Kawneer Company Inc. Leases 30,000 Square Feet

COLUMBIA, MD - April 1, 2014 - Liberty Property Trust today reported that it has signed the first lease at its new business park, Hanover Crossing at New Ridge Road in advance of the completion of the buildings. The company has executed the agreement with Kawneer Company Inc. for 30,000 square feet of space at 7460 New Ridge Road. The tenant will move into the location when the building opens late this summer.

"There is a strong market for a Class A industrial product in the Baltimore/Washington Corridor," said Lisa Sullivan, vice president and city manager for Liberty's Maryland region. "We are very pleased that Kawneer Company has selected Hanover Crossing and we look forward to creating opportunities for other companies in the park."

Offering 117,500 square feet of space, 7460 New Ridge Road is one of the first Class A industrial properties to be developed in the market in several years. Its sister building, 7462 New Ridge Road, offers 126,000 square feet of space. Both buildings are currently under construction. Completion is expected in May 2014.

Both buildings are LEED registered and feature concrete tilt-up design with 28'clear ceiling heights, 50' wide column spacing, ESFR sprinkler systems, T-5 lighting, rear dock high and drive-in loading, and ample parking.

Hanover Crossing at New Ridge Road is situated in close proximity to Route 100, MD Route 295 and Interstate I-95 and to Highpoint 100 Commerce Center, a two building industrial complex developed by Liberty in recent years. Liberty continues to strategically increase its critical mass of Class A industrial space in the Baltimore-Washington corridor. In May 2013, the company purchased 18 acres of land for the future development of up to 220,000 square feet of multi-tenant industrial space called Liberty Ridge and located at 7149 Ridge Road in Hanover. Later that year, the region acquired 1.4 million square feet of industrial space in 16 buildings with the acquisition of a national industrial portfolio.

"Companies with warehouse and distribution facilities in the Baltimore/Washington industrial corridor are well situated to provide goods and services to the more than 9.3 million people who live and work in the region, which is the fourth largest metropolitan area in the nation and has the highest median household income and spending power*," said Sullivan. "Industrial demand is primarily driven by the time sensitive access to businesses and consumers. With ecommerce companies wanting to satisfy customers' desire for same day delivery, we believe we are going to continue to see strong demand in the corridor for the foreseeable future."

Brian Sapp of Fischer & Company represented the tenant. Matthew Laraway, Benjamin Meisels, McLane Fisher and Jonathan Casella of Cushman & Wakefield serve as leasing agents for Hanover Crossing on behalf of Liberty Property Trust.

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.

*2010 US Census

General Inquiries: Lisa (Sullivan) Goodwin, Liberty Property Trust, 410.715.3333

Media Contact: Robbie Tarpley Raffish, a.s.a.p.r., 443.944.9301


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