Liberty Property Leases in Arizona – Analyst Blog

Liberty Property Trust (LRY), a leading real estate investment trust (REIT), has recently signed a leasing agreement for 130,000 square feet of space at Ryan West Business Park, a multi-tenant business park in Tolleson, Arizona. The 92-acre master-planned business park provides space for flexible industrial uses ranging from general industrial and manufacturing to distribution and office space in a commerce park environment.

 

About 74,700 square feet of space was leased to Mobileation, an online retailer of “ride-on” toys for children of all ages, such as child-sized cars, bikes, scooters, and rocking horses. Liberty Property also leased 23,500 square feet of space to Blood Systems Inc., a blood transfusion and research company that is one of the oldest and largest blood service providers in the U.S. At the same time, the company leased 31,100 square feet of space to Freeport-McMoRan Copper & Gold Inc. (FCX), a leading international mining company with headquarters in Phoenix, Arizona. 

 

Based in Pennsylvania, Liberty Property provides leasing, property management, development, construction management, design management and related services for a portfolio of industrial and office properties. The company focuses primarily on prime suburban properties in the Southeast, Mid-Atlantic and Midwest regions of the U.S. In addition, Liberty Property also owns certain assets in the U.K.

 

Liberty Property’s assets are designed to accommodate various types of tenants and space requirements. The company specifically focuses on metro-office, multi-tenant industrial and flex properties and markets that have strong demographic and economic fundamentals, ensuring a steady revenue stream for the company.

 

Furthermore, Liberty Property operates in multiple markets that enable it to mitigate geographical risk. In each of these markets, the company offers an appropriate mix of office and industrial properties. Currently, the company is also repositioning its portfolio as it intends to focus on higher growth markets characterized by better job and rent growth prospects.