) recently disclosed the leasing of 7.5 million square feet in
its industrial portfolio in third-quarter 2013. With this, the
company recorded the highest quarterly leasing volume, since its
inception in 1972.
In the operating portfolio, Liberty Property inked new lease
deals for 1.4 million square feet of space and renewal leases for
3.8 million square feet of space. Moreover, Liberty Property
penned a deal for leasing an in-construction build-to-suit
distribution facility, spanning 945,720 square foot, at 1467
Perryman Roadin Aberdeen, MD. The development of the leased
facility will complete in Jul 2014.
Also, in its existing development pipeline, Liberty Property
leased the newly completed distribution facility (1.2 million
square foot) at 2785 Commerce Center Blvd.in Bethlehem, PA. The
property is leased to
Wal-Mart Stores Inc.
). In addition, Liberty Property inked lease deals with two
tenants for 85,000 square feet of space at 13220 Wilfred Lanein
We remain encouraged with Liberty Property's landmark
achievement in industrial portfolio leasing. Moreover, the
company's diversified tenant base got a boost from these
Notably, the U.S. industrial market is gradually emerging on
the back of healthy demand with net absorption rate improving and
vacancy rates declining. Hence, with the high-end tenant base,
Liberty Property is poised to enjoy steady growth in rental
revenue, going forward.
This Pa.-based real estate investment trust (REIT) currently
has a Zacks Rank #3 (Hold). Better performing REITs that are
worth a look include
Sovran Self Storage Inc.
Douglas Emmett Inc
). Sovran Self Storage carries a Zacks Rank #1 (Strong Buy) and
Douglas Emmett holds a Zacks Rank #2 (Buy).
DOUGLAS EMMETT (DEI): Free Stock Analysis
LIBERTY PPTY TR (LRY): Free Stock Analysis
SOVRAN SLF STOR (SSS): Free Stock Analysis
WAL-MART STORES (WMT): Free Stock Analysis
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