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Liberty (LPT) to Build $1-Billion Campus in Camden

Per a news published by bizjournals.com, Liberty Property TrustLPT , the Malvern, PA-based real estate investment trust ("REIT"), intends to construct a $1-billion structure along the Delaware River in Camden, NJ. Favorable demographic and market factors of the Camden area as well as the attractive tax benefits offered through the Grow New Jersey Assistance Program has prompted the REIT to opt for this construction move.

Notably, of late, the city of Camden has been gradually resurfacing from the decades-long social and economic crisis, thanks to the tremendous efforts put in by the state officials as well as tax-sops. Several top-notch companies have entered the city in recent times. Liberty Property's decision to enter Camden too, indicates its intention to become part of the recovery process of a struggling city.

Liberty Property has hired New York-based Robert A. M. Stern Architects to design the master plan for a mixed-use community. This would include construction of up to 1.7 million square feet of office space in 4 to 5 buildings, 4 parking garages, a 120-140 room hotel, and 325 apartments. The REIT is expected to break the ground during third-quarter 2015, while the construction activities will likely go on for the next 4-5 years.

Liberty Property currently has a Zacks Rank #3 (Hold).

Investors interested in the REIT industry may consider stocks like CoreSite Realty Corporation COR , Iron Mountain Incorporated IRM and Ashford Hospitality Prime, Inc. AHP . While both CoreSite Realty and Iron Mountain Incorporated sport a Zacks Rank #1 (Strong Buy), Ashford Hospitality holds a Zacks Rank #2 (Buy).

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IRON MOUNTAIN (IRM): Free Stock Analysis Report

CORESITE REALTY (COR): Free Stock Analysis Report

ASHFORD HOSP PR (AHP): Free Stock Analysis Report

LIBERTY PPTY TR (LPT): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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