Liberty Property Trust (LPT - Free Report) recently leased out 4,612 square feet of space at 1200 Intrepid Avenue to Worldwide Express. This makes the company’s 1.58 million-square-foot portfolio in The Navy Yard, where 1200 Intrepid Avenue is located, 99% leased.
Worldwide Express is a leading logistics provider in North America, with its headquarters in Dallas, TX. The company plans to shift sales employees from its office in Center City to the new location. The floor-to-ceiling windows will ensure ample sunlight in the property, thereby aiding the company’s plan of an open-floor office.
The 1200 Intrepid is a four-story building comprising about 92,000 square feet of space in The Navy Yard. Except the second floor, which spans across 23,000 square feet of area, this building is fully occupied. The other tenants in this LEED Gold-certified building include Penn Capital Management, EMD Performance Materials, Paramount Enterprises International and Insperity, Inc. The property is located in The Navy Yard Corporate Center within The Navy Yard, a thriving riverfront area, which makes it a sought-after development.
Notably, Liberty Property has 16 developments in The Navy Yard, which includes 11 developments in The Navy Yard Corporate Center. Its strategic location is expected to keep portfolio occupancy high. Therefore, the company’s $361-million investment in The Navy Yard will likely be beneficial for the long run.
Liberty Property currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past six months, the company’s shares have gained 6.9%, while the industry has rallied 9.1%.
Some better-ranked stocks in the same industry include Americold Realty Trust (COLD - Free Report) , Corrections Corp of America (CXW - Free Report) and Clipper Realty Inc. (CLPR - Free Report) . While Americold Realty Trust and Corrections Corp of America flaunt a Zacks Rank of 1, Clipper Realty carries a Zacks Rank #2 (Buy).
Americold Realty Trust’s Zacks Consensus Estimate for 2018 funds from operations (FFO) per share has been revised 2.7% upward over the last 60 days. Also, its shares have gained 14% in the past three months.
Corrections Corp of America’s Zacks Consensus Estimate for current-year FFO per share moved 2.2% north in 60 days’ time. The stock has climbed 20.1% over the past three months.
Clipper Realty’s Zacks Consensus Estimate for 2018 FFO per share increased 7% over the last 60 days. The company’s shares have rallied nearly 27.6% in three months’ time.
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 >>