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Liberty Property Trust to Begin Redevelopment of Newly Acquired Industrial Building

 

Liberty Property Trust announced it will begin redevelopment and renovation of a newly acquired industrial building at 2626 S. 7th St. in Phoenix.

The property is located within minutes of Phoenix Sky Harbor International Airport and the company has rebranded the property, which it purchased in September, “Liberty Sky Harbor Center.”

Work will begin in January 2013 and is expected to be complete in 2Q 2013.

“The redevelopment of Liberty Sky Harbor Center comes at a time when interest is high in well-located, efficient industrial space,” said John DiVall, senior vice president and city manager for Liberty’s Arizona region.

“This is more than a face lift; it’s a repositioning of the property that will be attractive for potential tenants seeking a cross dock warehouse building with expansive outside area in the Sky Harbor International Airport submarket, which is virtually non-existent today.”

DiVall said he anticipates the work will begin with the demolition of a smaller office building on the east end of the property. That area is slated for an expansive parking area for trailers and outside storage.

New dock doors will be installed along the south side of the building with a new concrete truck court on the south side of the property as well. The existing fencing will be relocated back to the property line on the south and southwest sides of the property and high efficiency exterior site lighting will be added.

Work on the building itself will include the installation of additional dock doors on the south, east and west sides of the building and new asphalt throughout the property. Improvements will also include energy efficiency steps such as a complete roof overlay, new R-11 insulation to be added to the underside of the roof deck, native landscaping for water conservation and the use of low-VOC paint on the interior and exterior.

Liberty purchased the property this fall from Emerik Properties Corp. The seller was represented by Jerry McCormick of CBRE and Liberty was represented by Bob Crum of Ross Brown Partners, who will also have the leasing assignment. The general contractor for the project is Howard S. Wright.

Liberty owns approximately 2 MSF of industrial and office space in Arizona. In addition to Liberty Cotton Center, major holdings include Liberty 303 Business Park in Goodyear, the LEED Gold 8501 E. Raintree Drive in Scottsdale and Liberty Tolleson Center.