MALVERN, Pa., June 24, 2015 (GLOBE NEWSWIRE) -- Liberty Property Trust (NYSE:LPT) today announced that it has closed on the sale of its entire office and flex portfolio of 22 properties in the Hampton Roads region totaling 1.3 million square feet of space and 3.099 acres of land, for proceeds of $110.3 million. The portfolio was purchased by Lingerfelt CommonWealth Partners, and was 89.1% leased at closing.

The assets that were sold are the following:

Property AddressCityTypeSF
1301 Executive BoulevardChesapeakeOffice  50,020
1305 Executive BoulevardChesapeakeOffice  49,865
1309 Executive BoulevardChesapeakeOffice  49,870
1313 Executive BoulevardChesapeakeOffice  49,870
1317 Executive BoulevardChesapeakeOffice  73,583
500 Independence ParkwayChesapeakeOffice  51,000
501 Independence ParkwayChesapeakeOffice  61,146
505 Independence ParkwayChesapeakeOffice  63,568
510 Independence ParkwayChesapeakeOffice  97,081
676 Independence ParkwayChesapeakeOffice  73,345
700 Independence ParkwayChesapeakeOffice  96,260
1 Enterprise ParkwayHamptonOffice  63,029
21 Enterprise ParkwayHamptonOffice  75,915
22 Enterprise ParkwayHamptonOffice  72,444
5 Manhattan SquareHamptonOffice  17,068
521 Butler Farm RoadHamptonOffice  44,651
Lakefront Plaza II LandHamptonLAND -
200 Golden Oak CourtVirginia BeachOffice  74,290
208 Golden Oak CourtVirginia BeachOffice  63,825
1457 Miller Store RoadVirginia BeachFlex  65,192
629 Phoenix DriveVirginia BeachFlex  24,549
2809 South Lynnhaven RoadVirginia BeachOffice  62,924
484 Viking DriveVirginia BeachOffice  39,804


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 750 properties which provide office, distribution and light manufacturing facilities to 1,900 tenants.

 

Inquiries: Jeanne Leonard, Liberty Property Trust, 610.648.1704