Minnesota’s Liberty Property Trust celebrates strong start to the year
April 05, 2010 | Staff Writer | Print Article | Email this Article
Eden Prairie, Minn.-based Liberty Property Trust bucked the odds and celebrated a strong first quarter of the year.
The company reported that leasing activity in the first quarter of 2010 increased 138 percent when compared to the first quarter of 2009. Leasing from the first of the year totaled 134,824 square feet, compared to 56,754 square feet in the first quarter of 2009. Nine leasing agreements included four new leases, three renewals and two expansions.
“The trend toward positive absorption continued through the quarter,” said Brad Butler, senior leasing representative for Liberty in Minnesota. “Many companies have been reluctant to make decisions regarding their space for the last 18 months, and some of the tenants that weathered the recession best are now looking to expand their current spaces or upgrade their locations. We continue to be encouraged heading into the spring and summer months.”
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