LIBERTY PROPERTY TRUST 
By Partially pre-leased to A.L. Industries, the building is designed to meet market demand for quality Class A space
CHARLOTTE, NC - May 29, 2013 - Liberty Property Trust today announced that it will break ground next month on the first speculative industrial building to be developed in the Greenville-Spartanburg region in nearly five years. The Class A multi-tenant warehouse will total 156,000 square feet and be located at Caliber Ridge Industrial Park (110 Caliber Ridge) in Greer, South Carolina. A.L. Industries, Inc., a manufacturer of filters for the automotive and heavy duty industry, has signed a lease for 52,000 square feet of space in the new facility.
"During the last 18 months, there has been significant absorption of industrial space across the region and almost no supply of Class A product remains, which has presented Liberty with tremendous opportunity," said Massie Flippin, vice president and city manager for Liberty's Carolinas region. "Caliber Ridge Industrial Park, located directly between Greenville and Spartanburg, is the perfect location at which to expand our multi-tenant warehouse portfolio. It provides tenants such as A.L. Industries with a highly central setting for distribution and the land is prepped and waiting for development of up to three more buildings after this one."
The new building will feature advanced fire suppression systems, 208' depth, 28' clear height, 50x50 column spacing, the ability to accommodate high levels of office build-out, a shared 200-foot truck court and extensive parking.
"We are pleased to have found such a great location in Spartanburg County and look forward to working with Liberty Property Trust as they construct our future home," said Doug Buffington, president of A.L. Industries, Inc.
The architect for the development project is MCA Architect Inc., the engineer is Arbor Engineering and the general contractor is Harper Corporation General Contractors. John Brandon, vice president of development, is Liberty's project manager.
Liberty estimates development completion in fourth quarter 2013 and it is expected that A.L. Industries will move into the building during the first quarter of 2014. The Spartanburg Economic Futures Group was influential in bringing A.L. Industries to the park as a tenant.
"The Spartanburg Economic Futures Group is excited to play a role in Liberty Property Trust's continued investment in Class A industrial space in Caliber Ridge. We are even more excited to see their first tenant for this building, AL Industries, grow out of the Center for Business & Entrepreneurial Development at the Spartanburg Community College Tyger River Campus. It was this facility that made the recruitment of AL Industries to Spartanburg County possible. We look forward to working with Liberty Property Trust to assist in identifying tenants for the remaining speculative 104,000 Square Feet which is needed in the Upstate of SC," says Russ Weber, Chairman of Spartanburg Economic Futures Group Board of Directors.
Caliber Ridge Industrial Park is located at I-85 and Highway 101, opposite the entrance to the BMW manufacturing plant. In 2007, Liberty developed 125 Caliber Ridge, a 126,000 square foot multi-tenant building located in the park. It is 100% leased to Huntington Foam and Iron Mountain.
"We are thrilled to welcome A.L. Industries to Greer," said Wryley Bettis, chairman of the Greer Development Corporation. "Liberty Property Trust has been an incredible partner in creating new job opportunities and encouraging new capital investment in the Greer community. Caliber Ridge is a first class industrial park in every sense."
Liberty was represented by Bryan Blythe, director, leasing at Liberty Property Trust, and Brian Young and Elliott Fayssoux of Cushman & Wakefield, Thalhimer. The three will continue to work together to market the 104,000 square feet of available space in the building.
Liberty is a leading provider of quality multi-tenant warehouse, flex and office space along the I-85 corridor between Raleigh, NC and Greenville, SC. Across the portfolio, Liberty owns more than 5.6 million square feet of multi-tenant industrial space in the Carolinas. In North Carolina, the company owns two million square feet in the Piedmont Triad, 664,000 square feet in Raleigh and 2.2 million square feet in Charlotte. In addition, it owns 837,000 square feet of space in the Greenville, South Carolina area.
About Liberty Property Trust
Liberty Property Trust (NYSE: LRY) 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 81 million square foot portfolio consists of 666 properties providing office, distribution and light manufacturing facilities to 1,800 tenants.
General Inquiries: Massie Flippin, Liberty Property Trust, 704/426-8000
Media Contact: Robbie Tarpley Raffish, a.s.a.p.r., 443-944-9301
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