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Liberty Sees Solid Demand for Properties in Piedmont Triad
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Liberty Property Trust has been experiencing decent demand for its properties, and the company’s 2.1-million-square-foot portfolio at the Piedmont Triad in North Carolina is now 98% occupied.
Particularly, the company recently announced that it has struck a long-term lease with Wollsdorf Leder, Ltd., as well as signed a renewal with iAutomation, in the Eagle Hill Business Park. Being situated off the Highway 68 and in proximity to I-40 and I-74, along with the Piedmont Triad International Airport, this business hub grabs decent attention of tenants.
Wollsdorf Leder occupies a 24,000 square feet of class A industrial space at the 4189 Eagle Hill Drive of the Eagle Hill Business Park, in High Point, while iAutomation’s lease renewal is for a 18,422 square feet of space at the 4183 Eagle Hill Drive.
Moreover, in the Federal Ridge Business Park, an unspecified tenant has renewed lease for 33,000 square feet of space, for a long term, at the 4344 Federal Drive in Greensboro. The building too offers decent access to Highways 68, I-40, and I-74.
Notably, Liberty Property is shifting its focus toward industrial properties due to favorable demand and supply conditions. Its premium quality industrial properties, situated at key locations, are likely to drive long-term growth by leveraging on the e-commerce boom and supply-chain strategy transformations. Furthermore, the company has been experiencing healthy rent escalation on retained and replacement leases in its industrial portfolio.
Going forward, with a recovering economy and job market gains, as well as tax reforms, consumption levels are anticipated to remain elevated. And with a healthy manufacturing environment, along with high business inventories, demand for warehouse and logistics real estate is anticipated to be high. This is expected to offer decent scope to industrial REITs including Prologis, Inc. (PLD - Free Report) , Terreno Realty Corporation (TRNO - Free Report) , Liberty Property and Duke Realty to ride on growth curve.
The company’s shares have appreciated 14.2% in the past three months compared with its industry’s growth of 12.4%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
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Liberty Sees Solid Demand for Properties in Piedmont Triad
Liberty Property Trust has been experiencing decent demand for its properties, and the company’s 2.1-million-square-foot portfolio at the Piedmont Triad in North Carolina is now 98% occupied.
Particularly, the company recently announced that it has struck a long-term lease with Wollsdorf Leder, Ltd., as well as signed a renewal with iAutomation, in the Eagle Hill Business Park. Being situated off the Highway 68 and in proximity to I-40 and I-74, along with the Piedmont Triad International Airport, this business hub grabs decent attention of tenants.
Wollsdorf Leder occupies a 24,000 square feet of class A industrial space at the 4189 Eagle Hill Drive of the Eagle Hill Business Park, in High Point, while iAutomation’s lease renewal is for a 18,422 square feet of space at the 4183 Eagle Hill Drive.
Moreover, in the Federal Ridge Business Park, an unspecified tenant has renewed lease for 33,000 square feet of space, for a long term, at the 4344 Federal Drive in Greensboro. The building too offers decent access to Highways 68, I-40, and I-74.
Notably, Liberty Property is shifting its focus toward industrial properties due to favorable demand and supply conditions. Its premium quality industrial properties, situated at key locations, are likely to drive long-term growth by leveraging on the e-commerce boom and supply-chain strategy transformations. Furthermore, the company has been experiencing healthy rent escalation on retained and replacement leases in its industrial portfolio.
Going forward, with a recovering economy and job market gains, as well as tax reforms, consumption levels are anticipated to remain elevated. And with a healthy manufacturing environment, along with high business inventories, demand for warehouse and logistics real estate is anticipated to be high. This is expected to offer decent scope to industrial REITs including Prologis, Inc. (PLD - Free Report) , Terreno Realty Corporation (TRNO - Free Report) , Liberty Property and Duke Realty to ride on growth curve.
Liberty Property currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company’s shares have appreciated 14.2% in the past three months compared with its industry’s growth of 12.4%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>