Thursday, August 5, 2010

Liberty Property, Brandywine’s 2Q leasing activity

"Liberty Property Trust and Brandywine Realty Trust reported on local leasing activity for the second quarter.

Liberty (NYSE:LRY) signed 82,000 square feet in Malvern during the quarter and one of those deals involved an undisclosed tenant that renewed on 27,431 square feet and expanded by 21,894 square feet at 45 Liberty Blvd. Best bet is that it’s Microsoft Corp., which had been in the market for several months and already maintains space at that address.

Some of the other Liberty leases include: Stedi Inc., a restaurant company, leased 6,642 square feet of flex space at 16 Great Valley Parkway; Environetics Design signed a new lease for 1,200 square feet of office space at 10-20 Liberty Blvd.; and Fujirebio Diagnostics Inc. leased 13,000 square feet of lab, office and warehouse space at 201 Great Valley Parkway.

Brandywine (NYSE:BDN) wrapped up 262,059 square feet of leasing activity in Pennsylvania. Some of the major leases that got signed include: Lockheed Martin renewing 56,034 square feet at 640 Allendale Road in King of Prussia; Milestone Partners, a private equity firm, signed a new 12,517-square-foot lease at 555 East Lancaster Ave. in Radnor; Continental Bank re-upped on 12,280 square feet 620 Plymouth Meeting Executive Campus in Plymouth Meeting; United Phosphorus Inc., a company that makes herbicides, pesticides and related products, signed a new 11,978-square-foot lease at 630 Freedom Business Center, King of Prussia, where it maintains its headquarters; and Sundance Vacations renewed on 10,088 square feet at 620 Allendale Road in King of Prussia."

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