Posted Dec 15, 2015, 6:50 PM
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Join Date: Oct 2011
Location: Philadelphia
Posts: 18,367
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Liberty Property sees lots of interest in Navy Yard, Camden projects
Quote:
This year it exited the Horsham, Pa., office submarket in a $245.3 million portfolio sale of 41 buildings and has departed from South Jersey – though it maintains a growing industrial presence in that market.
The funds it has reaped from the property sales will go toward its development pipeline and acquisitions. It anticipates beginning $500 million to $700 million in new developments next year. In the statement it issued, the company said it is seeing “remarkable interest by high-quality companies” looking at the Philadelphia Navy Yard and its planned waterfront project in Camden, N.J.
“It is safe to say that there is likely to be new development in Philadelphia next year, but we are not announcing any new development now,” Leonard said.
The company currently has 1.7 million square feet in its development pipeline – the largest in its 44-year history – that is 55 percent pre-leased.
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http://www.bizjournals.com/philadelp...ndustrial.html
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