MALVERN, Pa., April 15, 2015 (GLOBE NEWSWIRE) -- Liberty Property Trust (NYSE:LPT) has leased two large blocks of industrial space totaling 1,316,891 square feet in Chicago and Arizona. The two leases consist of 723,291 square feet commencing May 1 at 1070 Windham Parkway in Romeoville IL, and 593,600 square feet commencing September 15 at Liberty Logistics Center I, 563 S. 63rd Avenue, Phoenix AZ.
Both leases represent the entirety of leasable space in the buildings. Both facilities are currently vacant.
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 106 million square foot portfolio includes more than 750 properties which provide office, distribution and light manufacturing facilities to 1,900 tenants.
Forward-Looking Statements
The statements contained in this press release may include forward-looking statements within the meaning of the federal securities law. Although Liberty believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the company can give no assurance that its expectations will be achieved. As forward-looking statements, these statements involve important risks, uncertainties and other factors that could cause actual results to differ materially from the expected results and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. These risks, uncertainties and other factors include, without limitation, uncertainties affecting real estate business generally (such as entry into new leases, renewals of leases and dependence on tenants' business operations), risks relating to the integration of the operations of entities that we have acquired or may acquire, risks relating to financing arrangements and sales of securities, possible environmental liabilities, risks relating to leverage and debt service (including availability of financing terms acceptable to the company and sensitivity of the company's operations and financing arrangements to fluctuations in interest rates), dependence on the primary markets in which the company's properties are located, the existence of complex regulations relating to status as a REIT and the adverse consequences of the failure to qualify as a REIT, risks relating to litigation, including without limitation litigation involving entities that we have a acquired or may acquire, and the potential adverse impact of market interest rates on the market price for the company's securities.