Liberty Pre-Leases New “Green” Building at Lake Smetana Business Park to Compellent Technologies, Inc

Eden Prairie, MN, January 11, 2007 --( Liberty Property Trust, (NYSE:LRY), the real estate investment trust that owns and manages nearly four million square feet of office, flex and industrial space throughout Minnesota, today announced that Compellent Technologies, Inc. has signed a lease to occupy its “green” building currently under construction at 7625 Smetana Lane in Eden Prairie.

Compellent Technologies, Inc., provider of affordable and modular enterprise storage solutions, will move into its new location in February, when the building is slated for completion. Liberty’s new, 56,000 square foot, Class A office building will serve as the company’s headquarters and will be home eventually to 250 employees. Inventive building design offers the tenant ample parking as well as beautiful views of Lake Smetana and Nine-mile Creek. Fred Hedberg of Paramount Real Estate represented Compellent Technologies, Inc.

“We are thrilled with our decision to occupy Liberty’s new building at Lake Smetana,” says Jack Judd, CFO of Compellent Technologies. “We were thoroughly impressed with the building’s intelligent design which includes an abundance of windows that allow for spectacular views of the Lake and a tremendous amount of natural light. Also, the building is located on a premier piece of real estate which is well situated for our business and employees.”

In addition to the ideal location, the one-story office building will include sustainable features that make it eligible for LEED (Leadership in Energy & Environmental Design) Certification from the U.S. Green Building Council. Recently, the building received LEED Silver pre-certification which is a formal recognition from the USGBC that it is being designed to meet the criteria for this level of certification.

The building’s numerous high-performance features include waterless urinals and drip irrigation systems for landscaping that reduce water consumption by forty percent, high energy-efficient HVAC equipment with special filters and carbon dioxide monitors, as well as low emission paints and adhesives. In addition, Liberty has taken steps to be environmentally responsible at every stage of development including recycling seventy-five percent of the building’s construction waste.

“We take great pleasure in not only bringing Liberty’s first ‘green’ building to the Minnesota region, but in also being able to share it with a company like Compellent,” said Dave Jellison, vice president and city manager for Liberty. “We strongly believe in the ideology of sustainable development and consider this to be the first of many for Liberty in the region.”

Liberty and LEED
Liberty recently earned a U. S. Green Building Council LEED Award for Corporate Leadership which is awarded to outstanding leaders in green building who demonstrate exceptional vision, leadership, and commitment to the evolution of green building design and construction. Currently, Liberty has completed or has under development more than six million square feet of LEED projects.

Liberty Property Trust
Liberty Property Trust (NYSE:LRY), headquartered in suburban Philadelphia is a leader in commercial real estate, serving customers in the United States and United Kingdom, though the development, acquisition, ownership and management of superior office and industrial properties. Liberty’s 64 million square foot portfolio includes more than 700 properties which provide office, distribution and light manufacturing facilities to 2,100 tenants.  

Compellent Technologies
Rob Davis