|Industry||Real estate investment trust|
|Fate||Acquired by Prologis|
|Defunct||February 4, 2020|
|William P. Hankowsky, Chairman & CEO|
Christopher J. Papa, CFO
|Revenue||$0.719 million (2017)|
|$0.290 million (2017)|
|$6.439 billion (2017)|
|$3.148 billion (2017)|
Number of employees
|Footnotes / references|
Liberty Property Trust was a real estate investment trust that invested in office buildings and industrial properties. As of December 31, 2017, the company owned interests in 461 industrial and 48 office properties comprising 86.0 million square feet. In 2020, the company was acquired by Prologis.
The company traces its history to Rouse & Associates, which was formed in 1972 by Willard Rouse, George Congdon, David Hammers, and Menard Doswell to develop warehouse space in southern New Jersey.
In 1974, Rouse & Associates purchased the Great Valley Corporate Center (GVCC) in Malvern, Pennsylvania. This property was the first office park to incorporate a graduate college, a business development and training center, and a day care center.
In 1995, the company acquired Lingerfelt Development Corporation in a $125 million transaction.
In 1997, the company acquired 2 portfolios of properties for $130 million.
In 2014, in a joint venture with Comcast, the company began construction of the Comcast Technology Center, which at 1,142 feet (348 m), is the tallest building in the Western Hemisphere outside of Manhattan and Chicago and was designed by Norman Foster, Baron Foster of Thames Bank. The company owns a 20% interest in the project.
In 2016, the company sold a portfolio of 8 properties for $131.1 million, an 8 building portfolio in Herndon, Virginia for $97 million, and a portfolio of 108 properties for $969 million.