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October 05, 2015

Liberty Property Trust makes $93M deal in Texas

Company behind Camden waterfront development buys up property in Houston

Property Development
Camden Waterfront Thom Carroll/PhillyVoice

The waterfront in Camden.

A few weeks after it announced a $1 billion development on the Camden waterfront, Liberty Property Trust has signed off on another big deal – this time in Texas.

The Malvern, Chester County developer bought three buildings and 139 acres of industrial land in Houston for $93 million, the Houston Business Journal reported.

RELATED STORY: Massive $1 billion development planned for Camden waterfront

Liberty plans to add two million square feet of development on an industrial site that already counts companies like Anheuser-Busch as tenants.

Liberty vice president Jay Kraft told the Business Journal that the company's goal is to grow in the Houston market in order to take advantage of the city's port facilities and the petroleum industry. It purchased 27 properties in Houston in 2013 and is now the fifth-largest commercial property owner in the city.

Read the full story here.