Liberty Property Trust has put up for sale a portfolio of 14 office and light-industrial buildings at its Renaissance Park corporate center in King of Prussia.
The Malvern-based developer plans to fund future acquisitions and development projects with proceeds from the sale of the buildings, which total 641,000 square feet, spokeswoman Jeanne Leonard said in an email Thursday.
The complex at 3000 Horizon Dr. is about 87 percent leased, with tenants including Athena Neurosciences Inc. and Reed Elsevier Group, according to Jerry Kranzel, who is helping to market the properties as a broker with real estate services firm CBRE.
Liberty has been shedding suburban office buildings in recent years while focusing more on distribution-center properties and projects in central Philadelphia, such as the Comcast Innovation Center now under construction in Center City.
Last year, it sold a large portion of its holdings in the Great Valley Corporate Center in Chester County as part of a $969 million deal covering 7.6 million square feet across 108 suburban properties in Pennsylvania, Arizona, Florida, and Minnesota.