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News release

DALLAS, TX

Liberty Property Trust Secures Land for Future Industrial Site

JLL negotiates purchase of property in Mountain Creek Business Park


DALLAS, September 26, 2016 – JLL today announced the firm successfully negotiated the acquisition of 88 acres in Mountain Creek Business Park in Dallas on behalf of Liberty Property Trust.

JLL Executive Vice Presidents Kurt Griffin and Nathan Orbin negotiated the sale on behalf of Liberty, who was represented by Vice President Mike Heise.

"We're thrilled to play a role in growing Liberty Property Trust's presence in Dallas-Fort Worth," said Griffin. "DFW remains one of the strongest economic markets in the nation, fueling the need for quality industrial properties. This new acquisition at Mountain Creek Business Park provides Liberty a tremendous opportunity to accommodate the needs of future tenants."

Liberty currently has two state-of-the art distribution buildings planned for the site. The first is a 752,760 square foot Class A distribution facility on 55 acres. The second is a 460,620 square foot Class A cross dock building on 32 acres.

Mountain Creek Business Park, a master-planned 410-acre business park, is located in southwest Dallas at Mountain Creek Parkway and Interstate 20. Tenants include Jack in the Box, Costco, Nestle, Niagara Bottling, Ulta, and Kimberly Clark. The I-20 Corridor, which includes the South Dallas industrial submarket is the most active market for leasing and construction through the first half of 2016. The submarket has recorded 2.8 million square feet of net absorption year to date.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.