Type Public | Founder Willard Rouse | |
 | ||
Traded as NYSE: LPT
S&P 400 Component Industry Real estate development
Property management Key people William P. Hankowsky (CEO) Products Comcast Center, Liberty Place Revenue $666,720,000 USD (2006) Stock price LPT (NYSE) US$ 38.25 -0.49 (-1.26%)16 Mar, 4:02 PM GMT-4 - Disclaimer Headquarters Malvern, Pennsylvania, United States CEO William P Hankowsky (21 Jan 2003–) Founded 1972, Philadelphia, Pennsylvania, United States Subsidiaries LIBERTY PROPERTY LIMITED PARTNERSHIP, Liberty Washington LP, Liberty Illinois LP | ||
Liberty property trust ceo says reit looking forward to 2017
Liberty Property Trust, based in Malvern, Pennsylvania, United States is a real estate investment trust. Liberty Property Trust owns over 65,000,000 square feet (6,000,000 m2) of office and industrial space in 20 markets throughout the United States and the United Kingdom (as of September 30, 2006).
Contents
- Liberty property trust ceo says reit looking forward to 2017
- Liberty property trust ceo prepared to buy back more stock
- History
- References
Liberty property trust ceo prepared to buy back more stock
History
Liberty Property Trust’s predecessor company, Rouse & Associates, was formed in 1972 by Willard G. Rouse III, George Congdon, David Hammers and Menard Doswell, to develop warehouse space in southern New Jersey. Rouse & Associates opened an office in Jacksonville, Florida two years later.
In 1974 Rouse & Associates purchased the Great Valley Corporate Center (GVCC) in Malvern, Pennsylvania. This property was the first office park to incorporate a graduate college, a business development and training center, and a day care center. GVCC has grown to include over four million square feet of office space, and remains a part of Liberty Property Trust's portfolio to this day.
Between 1974 and 1994, Rouse & Associates expanded into many new markets, including the Baltimore/Washington Corridor, the Lehigh Valley, the United Kingdom, and the Piedmont Triad. In 1987 Rouse & Associates opened One Liberty Place, the first skyscraper in Philadelphia to be taller than Philadelphia City Hall, and the tallest building in Pennsylvania from 1987-2007.
In 1994, Rouse & Associates becomes a real estate investment trust and changed its name to Liberty Property Trust. Rouse remained the chief executive officer of Liberty Property Trust until his death from cancer in 2003.
Liberty's most recent development is the Comcast Center in Philadelphia. At 975 feet (297 m), it is Pennsylvania's tallest building.
On February 19, 2003, the company would develop a 70-acre, nine-building office park just east of the main gate, in a joint venture with Synterra Partners of Philadelphia. On May 29, 2003, the annual shareholders meeting of Liberty Property Trust was held as scheduled despite the death of the company's founder, Willard G. Rouse III. He died of lung cancer at age 60.