Pennsylvania-based Liberty Property Trust reported $31.8 million in first quarter net income, down 57 percent from $74.1 million in the first quarter of 2014. Net income was $0.21 per common share for the quarter ending March 31, 2015 compared to $0.49 a year ago. As of March 31, Liberty’s portfolio of 105 million square feet was 93.2 percent leased, with 6.7 million square feet in lease deals completed in the first quarter. The REIT’s $8.9 billion portfolio includes 750 properties of office, distribution, and light manufacturing and 1,900 tenants throughout the U.S. and the United Kingdom. Liberty owns 19 commercial properties in South Florida including the Miami International Tradeport.
