Liberty purchases 54 properties in Pennsylvania, New Jersey, Maryland, Virginia, North Carolina, and Florida, and completes development of 5 new properties. Liberty continues to grow, purchasing 33 properties in Pennsylvania, New Jersey, Delaware, Virginia, North Carolina, and Florida, and completing development of 19 new properties. Liberty enters three new markets, Detroit, South Carolina, and Minneapolis, with the purchase of large portfolios. Liberty completes the largest industrial development in the company's history, a 1.2 million square foot distribution facility in the Lehigh Valley. Liberty's portfolio grows to 44 million square feet.
Development fuels another year of double-digit earnings growth.