Liberty Property, Workplace Property Close on $969M Sale

Liberty Property Trust closed on the sale of 108 properties, totaling approximately 7.6 million square feet. Buyer Workplace Property Trust and partner Safanad Ltd. paid $969 million for the assets, and for 26.7 acres of undeveloped land.

The portfolio represented a mix of industrial-distribution, industrial flex and office product throughout suburban Arizona, Florida, Minnesota and Pennsylvania. The portfolio was 88.1% leased at the time of closing. With this sale, Liberty’s total dispositions to date for 2016 are $1.2 billion.

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