Liberty Property Trust Sells Philadelphia Property for $74.7M

Liberty Property Trust LRY today announced it has sold the property at 8800 Tinicum Boulevard in Philadelphia to an affiliate of Cole Real Estate Investments, for approximately $74.7 million. The 441,000 square foot facility is occupied by PNC Bank, for whom Liberty developed the property in two phases, delivering in 1997 and 2000. CBRE represented Liberty in the transaction. Cole was represented by Bob Corry, senior vice president of office and industrial acquisitions. About the Company Liberty Property Trust is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior office and industrial properties.  Liberty's 81 million square foot portfolio includes 680 properties providing office, distribution and light manufacturing facilities to 1,800 tenants.