MALVERN, Pa., Dec. 04, 2015 (GLOBE NEWSWIRE) -- Liberty Property Trust (NYSE:LPT) today announced that it has closed on the sale of its entire portfolio of 41 properties in the Horsham, PA submarket totaling 2.4 million square feet of space and 20 acres of land, for proceeds of $245.3 million. The portfolio was purchased by Workspace Property Trust, a privately held, vertically integrated, full service commercial real estate company specializing in the development, management, and operation of office and flex space in the Northeast, and was 84.3% leased at closing.
The addresses of assets that were sold are attached to this release.
With this sale, Liberty’s 2015 dispositions to date total $536 million.
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 104 million square foot portfolio includes 689 properties which provide office, distribution and light manufacturing facilities to 1,650 tenants.
| Property Address | Type | SF |
| 680 Blair Mill Road | Office | 115,110 |
| 455 Business Center Drive | Office | 51,505 |
| 555 Business Center Drive | Office | 30,064 |
| 700 Dresher Road | Office | 110,000 |
| 747 Dresher Road | Office | 53,200 |
| 767 Electronic Drive | Flex | 45,000 |
| 100 Gibraltar Road | Office | 2,800 |
| 101 Gibraltar Road | Office | 56,845 |
| 110 Gibraltar Road | Office | 59,429 |
| 120 Gibraltar Road | Office | 49,023 |
| 200 Gibraltar Road | Office | 64,452 |
| 201 Gibraltar Road | Office | 46,697 |
| 220 Gibraltar Road | Office | 63,587 |
| 240 Gibraltar Road | Office | 63,587 |
| 103-109 Gibraltar Road | Flex | 42,000 |
| 111-159 Gibraltar Road | Flex | 63,036 |
| 161-175 Gibraltar Road | Flex | 49,732 |
| 181-187 Gibraltar Road | Flex | 48,870 |
| 231-237 Gibraltar Road | Flex | 60,000 |
| 261-283 Gibraltar Road | Flex | 60,000 |
| 100-107 Lakeside Drive | Office | 27,465 |
| 200-264 Lakeside Drive | Office | 54,623 |
| 300-309 Lakeside Drive | Office | 43,832 |
| 400-445 Lakeside Drive | Office | 62,123 |
| 506 Prudential Road | Office | 18,200 |
| 507 Prudential Road | Office | 100,710 |
| 102 Rock Road | Flex | 40,472 |
| 101-111 Rock Road | Office | 37,884 |
| 113-123 Rock Road | Office | 37,500 |
| 123-135 Rock Road | Flex | 37,500 |
| 2 Walnut Grove Drive | Office | 81,856 |
| 4 Walnut Grove Drive | Office | 109,700 |
| 5 Walnut Grove Drive | Office | 105,000 |
| 7 Walnut Grove Drive | Office | 120,000 |
| 132 Welsh Road | Office | 45,200 |
| 300 Welsh Road | Office | 33,205 |
| 300 Welsh Road - Building #3 | Office | 23,461 |
| 300 Welsh Road - Building #4 | Office | 37,653 |
| 100 Witmer Road | Office | 139,128 |
| 104 Witmer Road | Office | 24,300 |
| 201-223 Witmer Road | Flex | 60,000 |
| Commonwealth Corp Ctr Lot 8 | Land | 20.35 acres |