Liberty Property Trust
) disclosed the signing of leases for a total area of 94,400
square feet with Atlas Box and Crating Company at Keystone
Business Park in Morrisville, NC. With this, the park is now
Specifically, the long-term lease for 62,400 square feet of space
at 619 Distribution Drive in Keystone Business Park has been
renewed by Atlas Box and Crating Company. Apart from this, the
company inked a new lease for an additional area, spanning 32,000
square feet, at 627 Distribution Drive inside the park.
Favorably positioned near the I-85 corridor, the Keystone
Business Park draws much attention and helps in the expansion and
new development moves of its customers. Across the portfolio,
Liberty enjoys ownership of over 6.1 million square feet of
multi-tenant industrial space in the Carolinas.
In a separate development, the company announced the closing of 7
lease deals in Arizona in first-quarter 2014. The deals include
leasing of a total space of 425,000 square feet and reflect high
levels of activity. This comprises 3 new leases and 4 renewals
and include tenants like
) with which the company signed a deal for its Class A office
development - Liberty Center at Rio Salado - in Tempe.
As a matter of fact, Liberty Property is aiming to expand its
presence in the growing markets of the nation. The Phoenix office
market is currently improving, with rising demand for space from
the corporate houses. The industrial market too is recuperating
well with strength in the economy.
Liberty Property is efficiently capitalizing on this trend and
the lease deals reflect the growing demand for its properties.
However, interest rates are expected to increase, which may in
turn hurt the rate-sensitive business of the company to some
extent in the long run.
Liberty Property currently carries a Zacks Rank #3 (Hold).
Investors interested in the REIT industry may also consider
Cousins Properties Inc.
). Both stocks carry a Zacks Rank #2 (Buy).
COUSIN PROP INC (CUZ): Free Stock Analysis
LIBERTY PPTY TR (LPT): Free Stock Analysis
PUBLIC STORAGE (PSA): Free Stock Analysis
WAGEWORKS INC (WAGE): Free Stock Analysis
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