A big handshake may soon grip Liberty Property Trust’s massive plan to hand off nearly 10 million square feet of suburban office space this year — for around $1 billion — as the Malvern real estate investment trust refocuses on opportunities in industrial real estate.

Liberty is now in discussions with a prospective buyer, according to a Philadelphia Business Journal report by Natalie Kostelni.

A likely suitor is Workspace Property Trust, which bought Liberty’s 41 Horsham office properties for $245 million and is very bullish on suburban office space.

“While the scope of any deal is still in flux, it could potentially encompass some 6.6 million square feet of office and flex space,” the article stated, citing a Real Estate Alert report. “Market pros estimate the valuation would be in the vicinity of $100 to $110 per square foot, or up to $726 million.”

Liberty owns 4 million square feet in Malvern and King of Prussia alone, plus more in Minnesota and Florida.

Previous VISTA Today coverage noted the firesale of “most, if not all, of our remaining non-core suburban office product” is the culmination of a strategic plan set in motion back in 2013 to “take full advantage of changes in how business utilizes real estate and fully devote our unique development, leasing and management talents to higher-value opportunities,” CEO Bill Hankowsky said.

Read more about the negotiations in the Philadelphia Business Journal here and on VISTA Today here.