by Natalie Kostelni
Liberty Property Trust paid $155 million to buy 19 industrial buildings totaling 3 million square feet during the fourth quarter.
The Malvern, Pa., real estate investment trust (NYSE:LRY) now owns 48 million square feet of industrial space. It bought: 12 properties totaling 1.2 million square feet in Tampa, Fla.; two buildings totaling 1.2 million square feet in suburban Chicago; three properties totaling 376,000 square feet in Charlotte, N.C.; and two buildings totaling 282,000 square feet in Shakopee, Minn. The properties are 96 percent leased.
The company said in a statement that it continues to look for industrial properties in targeted industrial markets and will spend another $18 million on buying industrial buildings by the end of the year.
Full story: http://tinyurl.com/cy6lwqy
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