Liberty Property Trust (LPT) penned a lease renewal deal with DSC Logistics, Inc. in Elwood. The move will strengthen Liberty Property’s relationship with this leading supply chain management company and secure steady rental revenue generation.
Situated in the BNSF Logistics Park Chicago, 21705-21707 West Mississippi Avenue is a industrial cross-docked facility and is conveniently connected to important rail networks of the area. With the abovementioned deal, DSC Logistics will continue to fully occupy over 1 million square feet of space at this property.
We believe that this transaction is a strategic fit for Liberty Property given the improving U.S. industrial market fundamentals. Particularly, amid a larger customer base and rise in e-Commerce application and supply chain consolidation, there is an increasing demand for high-quality logistics facilities. And Liberty Property is aiming at capitalizing on this trend.
Consequently, last month, the company bought 5 Class A industrial properties (spanning 705,365 square feet in total) in Durham, NC for $44 million (Read: Liberty Property Buys Assets; Boosts NC Industrial Portfolio). In the same month, Liberty Property fully leased warehouse property – 1135 Aviation Place – to Ricon Corporation through a long-term deal (Read: Liberty Property Leases Warehouse in South CA).
Liberty Property Trust is slated to release its second-quarter results on July 22, before the market opens. The Zacks Consensus Estimate for the same is currently pegged at 61 cents.
This PA-based real estate investment trust (REIT) – Liberty Property – currently has a Zacks Rank #3 (Hold). However, investors interested in the REIT industry may consider stocks like Terreno Realty Corp. (TRNO), Parkway Properties Inc. (PKY) and Aviv REIT, Inc. (AVIV). All stocks carry a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment