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Nov
11

Liberty Property Trust sells KOP Office Building for $26.8M

November 11, 2016

Source: The Philadelphia Inquirer, Jacob Adelman

Liberty Property Trust has sold an office building at 151 S. Warner Rd. in King of Prussia to a German investment firm for $26.8 million.

The sale to the family-run firm closed in late October, Mike Margolis, who helped represent Liberty in the deal as a senior managing director with Newmark Grubb Knight Frank, said Friday. He declined to provide any other details about the buyer.

The building serves as corporate headquarters for The Judge Group, a tech-focused staffing firm that signed a long-term lease in September to occupy 89,000 square feet.

The property is the latest to be sold by Liberty, which has unloaded more than $2 billion in non-core real estate over the last three years to focus on urban office markets and industrial holdings.

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