• American City Business Journals last month

    American Water to build new HQ on Camden waterfront

    American Water Works Co. Inc. will relocate its headquarters to a new building that will be constructed along the Camden waterfront. The five-story, 222,376-square-foot structure will be constructed by Liberty Property Trust (LPT) and marks the first building to be constructed as part of a $1 billion mixed-use development the real estate investment trust has planned in the South Jersey community. It had been rumored for some time that American Water (AWK) was in talks with Liberty to develop a new headquarters in Camden.

  • American City Business Journals 6 months ago

    Local REITs on selling spree

    Liberty Property Trust has completed a transaction involving the sale of eight properties for $131.1 million in what is the latest of a series of sales it has made. The company last year was an aggressive seller of properties, having unloaded six million square feet totaling $562 million. Liberty joined two of the region’s other real estate investment trusts — Brandywine Realty Trust and Pennsylvania Real Estate Investment Trust — on recent selling sprees to essentially get rid of lesser quality properties that don’t fit into their respective strategies.