Developer's Occupancy in the Raleigh-Durham Area Now Greater Than 98%

Charlotte, NC - July 25, 2017 - Liberty Property Trust continues to experience strong activity in the Research Triangle Park (RTP) market with the signing of a new lease and a renewal that includes a major expansion.

Current tenant Classic Graphics, Inc. will double its space at Keystone Industrial Park, expanding from 24,000 square feet to 48,000 square feet of industrial space at 627 Distribution Drive. The fit out of the new space is underway and the tenant will take possession of the space in the first quarter of 2018.

Bryan Everett of CBRE represented the tenant. Bryan Blythe, vice president of leasing and development for Liberty, represented the company.

IDI Distributors has signed a new long-term lease for 29,160 square feet of industrial space at Liberty Ridge. The company will move into the location at 1951 T.W. Alexander Drive in the fall. Tim Carlson of Cresa and Justin Booth of Avison Young represented the tenant. Ann-Stewart Patterson and Butch Miller of CBRE represented Liberty.

Liberty also signed a lease for 16,160 square feet at 1000 Parliament Court with an undisclosed company. The recent leasing activity brings its Raleigh-Durham portfolio to 98.1% leased.

These deals come on the heels of seven others - three new and four renewals - announced previously.

'The RTP submarket continues to gain steam,' said Bryan Blythe, vice president of leasing and development for Liberty. 'It's an exciting time to be here and we continue to look for opportunities.'

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 98 million square foot portfolio includes 558 properties which provide office, distribution and light manufacturing facilities to 1,200 tenants.

General Inquiries: Bryan Blythe, Liberty Property Trust, 704.426.8000

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

Liberty Property Trust published this content on 26 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 July 2017 15:45:48 UTC.

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