Liberty Property Trust and Synterra Partners Earn LEED® Gold Certification at 150 Rouse Blvd.,

Liberty Property Trust and Synterra Partners announced that it has received LEED® Gold certification under the Core & Shell™ rating system from the U.S. Green Building Council at 150 Rouse Boulevard in The Navy Yard Corporate Center.  The accreditation is the seventh for the Liberty Property/Synterra team at The Navy Yard, which is one of the largest collections of LEED commercial buildings in the region.

The building serves as the global headquarters of Iroko Pharmaceuticals, LLC, a global specialty pharmaceutical company, based in Philadelphia, dedicated to scientific advancements in analgesia.

“The development of The Navy Yard has been an amazing journey,” said Brian Cohen, vice president and city manager for Liberty’s Philadelphia office.  “Even at the core of the Recession, this was a place companies were drawn to for its energy and innovation.  We applaud Iroko, and the many other tenants in our Navy Yard buildings, for their commitment to providing exceptional and high performance work environments for their employees and for believing in our vision of creating a highly sustainable and progressive campus.  We look forward to the next phases of development still to come.”

The 56,412 square foot, four-story state-of-the-art facility features high performance systems designed to manage energy, atmosphere, water and indoor environmental quality.  Built predominantly with locally-sourced materials, the building also features exterior views to 90% of regularly occupied building space, high-efficiency low-flow water fixtures throughout the building and secure bike racks and changing/shower facilities to promote the use of energy efficient transportation.

“The Iroko headquarters at 150 Rouse Boulevard is the ultimate expression of our vision and growth as a company,” said John Vavricka, President and CEO of Iroko Pharmaceuticals.  “The sustainable building design and the open spaces represent our unlimited potential and reflect well on the spirit of our company. Philadelphia and The Navy Yard provide a strong platform for future growth as we advance our promising drug candidates towards commercialization.”

Liberty Property/Synterra invested $15.4 million in the development of the project.  The building was designed for Liberty Property/Synterra by DIGSAU, a Philadelphia-based design firm, and constructed by Penn Construction Company with sustainability consulting provided by Re:Vision Architecture.

In total, Liberty Property/Synterra has developed more than 1,030,000 rentable square feet in The Navy Yard to date representing more than $225 million in private investment.  The six LEED certified buildings completed by the partnership in the park include (in order of certification date):

·         One Crescent Drive – LEED Platinum for Core & Shell

·         Three Crescent Drive – LEED Gold for Core & Shell

·         4300 S 26th Street – LEED Silver for New Construction™

·         4050 S 26th Street – LEED certified for Core & Shell

·         4020 S 26th Street – LEED certified for Core & Shell

·         Five Crescent Drive– LEED Platinum for Core & Shell and Commercial Interiors™

An eighth sustainable building, 201 Rouse Blvd., was just announced by the partners. They will break ground in September. The property, which has been pre-leased to Franklin Square Capital Partners, has been designed to achieve LEED Gold specifications.

Liberty Property/Synterra’s future development plans for The Navy Yard call for an additional 2.55 million square feet of high performance sustainable office and flex space and 12 acres of manicured public space.

About the Philadelphia Navy Yard
The Navy Yard is a 1,200 acre, dynamic urban development, offering the Philadelphia region a unique and centrally-located business campus with an uncompromising commitment to sustainability. The Navy Yard is home to more than 130 companies and 10,000 employees in the office, industrial/manufacturing, and research and development sectors, occupying 6.5 million square feet of real estate in a mix of historic buildings and new LEED® certified construction.

About The Navy Yard Corporate Center
The Navy Yard Corporate Center is a master-planned development within The Navy Yard featuring state-of-the-art, sustainable multi-tenant and build-to-suit office space, developed and owned by Liberty Property/Synterra, L.P., a joint venture between Liberty Property Trust and Synterra Partners.  During the last eight years, seven properties totaling over 580,000 square feet have been completed in The Navy Yard Corporate Center representing an investment of over $160 million in development. Additionally at The Navy Yard the partnership has developed 4750 League Island Boulevard for Unique Industries and three flex buildings at The Navy Commerce Center representing an additional investment of $64 million.

About Liberty Property Trust
Headquartered in Malvern, PA, Liberty is dedicated to enhancing people’s lives through extraordinary work environments. The real estate investment trust (REIT) serves customers in the United States and United Kingdom through the development, acquisition, ownership and management of superior office and industrial properties. Liberty's 81 million square foot portfolio offers exceptional locations and flexible design to more than 1,700 tenants at 662 properties. The company is a leader in the development of high performance green buildings. For more information visit www.libertyproperty.com.

About Synterra
Synterra Partners is a local real estate development company founded in 1996. The firm has an extensive portfolio of projects that include hotels and resorts, commercial and retail developments both domestic and international. Synterra Partners has earned its extraordinary reputation by working successfully with public and private organizations to create innovative strategies for complex development projects.

About Iroko Pharmaceuticals, LLC
Iroko is a global specialty pharmaceutical company, based in Philadelphia, dedicated to scientific advancements in analgesia. . The company acquires, develops and commercializes currently marketed products. In addition to the Iroko products which are marketed worldwide, the company has a robust pipeline of several late-stage submicron NSAID candidates using the SoluMatrix™ platform. These submicron NSAIDs are being developed using iCeutica Pty Ltd’s SoluMatrix™ technology, licensed to Iroko for exclusive use in NSAIDs.  For more information, visit www.iroko.com.

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