{"id":1004074888,"date":"2013-05-24T11:41:12","date_gmt":"2013-05-24T19:41:12","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=130141"},"modified":"2020-04-27T23:17:46","modified_gmt":"2020-04-28T07:17:46","slug":"liberty-property-trust-acquires-18-acres-of-land-in-hanover-plans-another-speculative-industrial-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/liberty-property-trust-acquires-18-acres-of-land-in-hanover-plans-another-speculative-industrial-project\/","title":{"rendered":"Liberty Property Trust Acquires 18 Acres of Land in Hanover, Plans Another Speculative Industrial Project"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">The rising demand for industrial space in the Baltimore area has resulted in an increase in speculative building projects. Liberty Property Trust announced on May 21 the acquisition of 18 acres of land at 7149 Ridge Road in Hanover, Maryland. <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/baltindjaksnkasna.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-130153\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/baltindjaksnkasna.jpg\" alt=\"\" width=\"174\" height=\"300\" \/><\/a>The company owns and manages nearly three million square feet of office and industrial space in Greater Baltimore Metropolitan area and plans to use the land for the future development of a multi-tenant industrial building.<\/p>\n<p style=\"text-align: justify;\">The new building will feature concrete tilt up walls, 210\u2019 depth with 130\u2019 truck courts and 1.5 per 1,000 parking spaces. Its location is also important. Liberty said the property will have exposure to the new Hanover extension road as part of the new Hanover Road and Interstate 295 Interchange proposed by the State Highway Administration.<\/p>\n<p style=\"text-align: justify;\">If approved, the new interchange will provide quicker access to the Baltimore-Washington International Thurgood Marshall Airport and will open up opportunities for development and employment in the area.<\/p>\n<p style=\"text-align: justify;\">\u201cThis land acquisition represents a key milestone as we develop our pipeline and execute our strategy to grow Liberty\u2019s industrial portfolio in this market,\u201d Lisa Sullivan, vice president and city manager for Liberty in the region, said in a statement for the press. \u201cThe property at 7149 Ridge Road, when developed, will be the site of Liberty\u2019s fifth building in the area.\u201d<\/p>\n<p style=\"text-align: justify;\">Bill Holland of Tri-Star Brokerage, LLC brokered the deal. Liberty did not disclose the price of the transaction.<\/p>\n<p style=\"text-align: justify;\">Less than half a mile from the newly acquired land, Liberty Property trust is developing two other new Class A industrial buildings. Located at 7460 and 7462 New Ridge Road in Liberty\u2019s Hanover Crossing industrial park, the two buildings offer together almost\u00a0 243,500 square feet of space. They feature 28-foot clear ceilings, 50-foot spaces between columns, and drive-in loading for trucks. Liberty Property Trust is constructing them in tandem and expects to complete the two buildings by the end of the year.<\/p>\n<p style=\"text-align: justify;\">In 2008, the company opened Highpoint 100, a two-building industrial complex on Coca Cola Drive. Together, the buildings offer 225,000 square feet of space. Both are fully leased.<\/p>\n<p style=\"text-align: justify;\"><em>Charts courtesy of <a href=\"https:\/\/cbre.us\/\" target=\"_blank\" rel=\"nofollow\"> CBRE<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Liberty Property Trust has announced on Tuesday, May 21, the acquisition of 18 acres of land at  7149 Ridge Road in Hanover, Maryland. The company owns and manages nearly three million square feet of office and industrial space in Greater Baltimore Metropolitan area and plans to use the land for the future development of a multi-tenant industrial building.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21742],"tags":[],"class_list":["post-1004074888","post","type-post","status-publish","format-standard","hentry","category-baltimore","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Liberty Property Trust Acquires 18 Acres of Land in Hanover, Plans Another Speculative Industrial Project - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/liberty-property-trust-acquires-18-acres-of-land-in-hanover-plans-another-speculative-industrial-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Liberty Property Trust Acquires 18 Acres of Land in Hanover, Plans Another Speculative Industrial Project\" \/>\n<meta property=\"og:description\" content=\"Liberty Property Trust has announced on Tuesday, May 21, the acquisition of 18 acres of land at 7149 Ridge Road in Hanover, Maryland. The company owns and manages nearly three million square feet of office and industrial space in Greater Baltimore Metropolitan area and plans to use the land for the future development of a multi-tenant industrial building.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/liberty-property-trust-acquires-18-acres-of-land-in-hanover-plans-another-speculative-industrial-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-05-24T19:41:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-28T07:17:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/05\/baltindjaksnkasna.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/liberty-property-trust-acquires-18-acres-of-land-in-hanover-plans-another-speculative-industrial-project\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/liberty-property-trust-acquires-18-acres-of-land-in-hanover-plans-another-speculative-industrial-project\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Liberty Property Trust Acquires 18 Acres of Land in Hanover, Plans Another Speculative Industrial Project\",\"datePublished\":\"2013-05-24T19:41:12+00:00\",\"dateModified\":\"2020-04-28T07:17:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/liberty-property-trust-acquires-18-acres-of-land-in-hanover-plans-another-speculative-industrial-project\\\/\"},\"wordCount\":360,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/liberty-property-trust-acquires-18-acres-of-land-in-hanover-plans-another-speculative-industrial-project\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/05\\\/baltindjaksnkasna.jpg\",\"articleSection\":[\"Baltimore\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/liberty-property-trust-acquires-18-acres-of-land-in-hanover-plans-another-speculative-industrial-project\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/liberty-property-trust-acquires-18-acres-of-land-in-hanover-plans-another-speculative-industrial-project\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/liberty-property-trust-acquires-18-acres-of-land-in-hanover-plans-another-speculative-industrial-project\\\/\",\"name\":\"Liberty Property Trust Acquires 18 Acres of Land in Hanover, Plans Another Speculative Industrial Project - 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