Liberty Property Trust Signs Leases With Zulily.Com, Lindt, Sprungli Chocolate
Industrial projects and leasing are both on the rise for Liberty Property Trust of Malvern.
The company says it launched eight industrial projects totaling 2.2 million square feet so far its third quarter – a projected total investment of $150 million.
Liberty also announced two large leases totaling 1.2 million square feet at Pennsylvania industrial properties.
The industrial starts include a distribution facility in Hagerstown, Md.; a distribution building for Bosch Security Systems in Greer, S.C.; a building in Greer, S.C. for Pilot Freight; a multi-tenant industrial building in Oak Creek, Wis.; a distribution building in Des Plaines, Ill.; the Miami International Tradeport Building in Medley, Fl.; a multi-tenant industrial building in Dayton, Mn.; and a distribution building in N. Aurora, Ill.
Liberty signed a significant industrial lease with online retailer zulily, inc. in Bethlehem. An 800,000 square-foot building is under construction, with leasing planned for early 2015.
Also, Liberty leased the remaining 421,200 square feet of space at 40 Logistics Dr. in Carlisle to fine chocolate manufacturer Lindt and Sprungli (USA), Inc. The lease will begin in early 2015.
Liberty’s board of trustees also declared a cash dividend of $0.475 per share on the company’s common shares of beneficial interest for the third quarter of 2014. The dividend will be payable on Oct. 15, 2014.
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