Schedule III

12 Months Ended

Dec. 31, 2015

Schedule III [Abstract]

Real Estate and Accumulated Depreciation Disclosure [Text Block]

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
					Initial Cost						Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)			Land		Building		Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements		Building and Improvements		Total 12/31/2015		Accumulated Depreciation 12/31/2015		Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1467 Perryman Road	Aberdeen, MD	$	—		$	12,052,635	$	—	$	35,346,705	$	12,334,030	$	35,065,310	$	47,399,340	$	1,369,265	2014	5 - 40
1501 Perryman Road	Aberdeen, MD	—			5,813,324		18,874,059		5,422,539		5,816,839		24,293,083		30,109,922		5,910,950		2005	5 - 40
869 S Route 53	Addison, IL	—			1,194,223		4,201,881		61,258		1,194,223		4,263,140		5,457,363		297,229		2013	5 - 40
901 S Route 53	Addison, IL	—			2,055,066		5,984,093		661,947		2,055,066		6,646,040		8,701,106		431,780		2013	5 - 40
200 Boulder Drive	Allentown, PA	—			4,722,683		18,922,645		902,672		4,722,683		19,825,317		24,548,000		5,621,980		2004	5 - 40
250 Boulder Drive	Allentown, PA	—			3,599,936		12,099,145		2,149,322		3,717,733		14,130,670		17,848,403		4,657,632		2004	5 - 40
400 Nestle Way	Allentown, PA	—			8,065,500		—		27,960,348		8,184,096		27,841,752		36,025,848		14,183,487		1997	5 - 40
650 Boulder Drive	Allentown, PA	—			5,208,248		—		32,159,603		9,961,788		27,406,063		37,367,851		9,049,776		2002	5 - 40
651 Boulder Drive	Allentown, PA	—			4,308,646		—		17,738,622		4,308,646		17,738,622		22,047,268		8,117,529		2000	5 - 40
700 Nestle Way	Allentown, PA	—			3,473,120		—		20,186,320		4,174,970		19,484,470		23,659,440		10,049,517		1998	5 - 40
705 Boulder Drive	Allentown, PA	—			10,594,027		—		28,652,353		10,596,767		28,649,613		39,246,380		12,616,449		2001	5 - 40
7165 Ambassador Drive	Allentown, PA	—		*	792,999		—		4,644,609		804,848		4,632,760		5,437,608		1,884,477		2002	5 - 40
7248 Industrial Boulevard	Allentown, PA	—			2,670,849		13,307,408		4,712,185		2,670,673		18,019,769		20,690,442		8,443,302		1988	5 - 40
7339 Industrial Boulevard	Allentown, PA	—			1,187,776		—		7,592,257		1,197,447		7,582,586		8,780,033		3,650,841		1996	5 - 40
7437 Industrial Boulevard	Allentown, PA	—			717,488		5,022,413		3,377,718		726,651		8,390,967		9,117,618		4,969,096		1976	5 - 40
8014 Industrial Boulevard	Allentown, PA	—			4,019,258		—		9,909,602		3,645,117		10,283,743		13,928,860		4,893,825		1999	5 - 40
8150 Industrial Boulevard	Allentown, PA	—			2,564,167		—		9,396,095		2,571,466		9,388,796		11,960,262		3,148,626		2002	5 - 40
8250 Industrial Boulevard	Allentown, PA	—			1,025,667		—		5,082,558		1,035,854		5,072,371		6,108,225		1,696,937		2002	5 - 40
8400 Industrial Boulevard	Allentown, PA	—			6,725,948		—		27,161,555		7,521,211		26,366,292		33,887,503		6,758,180		2005	5 - 40
6330 Hedgewood Drive	Allentown, PA	—			531,268		—		6,060,145		532,047		6,059,366		6,591,413		3,620,745		1988	5 - 40
6350 Hedgewood Drive	Allentown, PA	—			360,027		—		4,526,060		560,691		4,325,396		4,886,087		2,309,215		1989	5 - 40
6370 Hedgewood Drive	Allentown, PA	—			540,795		—		4,019,260		541,459		4,018,596		4,560,055		2,279,429		1990	5 - 40
6390 Hedgewood Drive	Allentown, PA	—			707,203		—		3,018,919		707,867		3,018,255		3,726,122		1,813,455		1990	5 - 40
6520 Stonegate Drive	Allentown, PA	—			453,315		—		1,873,771		484,361		1,842,725		2,327,086		992,068		1996	5 - 40
6540 Stonegate Drive	Allentown, PA	—			422,042		—		4,073,406		422,730		4,072,718		4,495,448		2,759,797		1988	5 - 40
6560 Stonegate Drive	Allentown, PA	—			458,281		—		2,858,752		458,945		2,858,088		3,317,033		1,969,167		1989	5 - 40
6580 Snowdrift Road	Allentown, PA	—			388,328		—		4,876,767		389,081		4,876,014		5,265,095		2,828,651		1988	5 - 40
7620 Cetronia Road	Allentown, PA	—			1,091,806		3,851,456		445,980		1,093,724		4,295,518		5,389,242		2,148,035		1990	5 - 40
3095 Presidential Drive	Atlanta, GA	—			200,351		1,729,161		216,941		200,351		1,946,102		2,146,453		148,824		2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost				Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
3097 Presidential Drive	Atlanta, GA	—		188,680	1,721,048	86,553		188,680	1,807,601	1,996,281	148,512	2013	5 - 40
7030 Buford Highway NE	Atlanta, GA	—	*	919,850	4,051,340	940,852		919,850	4,992,192	5,912,042	428,292	2013	5 - 40
Barton 150	Barton Under Needwood, UK	—		2,196,955	13,643,981	(1,742,245	)	1,955,326	12,143,365	14,098,691	786,014	2013	5 - 40
1055-1071 Kingsland Drive	Batavia, IL	—		727,294	2,367,529	326,403		727,294	2,693,932	3,421,226	235,638	2013	5 - 40
4606 Richlynn Drive	Belcamp, MD	—		299,600	1,818,861	712,788		299,600	2,531,649	2,831,249	1,041,001	1985	5 - 40
11800 Baltimore Avenue	Beltsville,MD	—		2,769,962	1,829,028	373,362		2,769,962	2,202,391	4,972,353	208,719	2013	5 - 40
11850 Baltimore Avenue	Beltsville,MD	—		3,595,044	2,415,132	277,582		3,595,044	2,692,714	6,287,758	333,699	2013	5 - 40
11900 Baltimore Avenue	Beltsville,MD	—		3,492,036	2,024,038	480,354		3,492,036	2,504,392	5,996,428	358,357	2013	5 - 40
12104 Indian Creek Court	Beltsville,MD	—		2,021,752	2,503,802	391,474		2,021,752	2,895,276	4,917,028	397,647	2013	5 - 40
12200 Indian Creek Court	Beltsville,MD	—		1,347,882	1,460,291	612,557		1,347,882	2,072,848	3,420,730	157,679	2013	5 - 40
12240 Indian Creek Court	Beltsville,MD	—		1,479,307	2,159,997	552,121		1,479,307	2,712,119	4,191,426	211,434	2013	5 - 40
1071 Thorndale Avenue	Bensenville,IL	—		2,173,006	2,280,788	174,978		2,016,715	2,612,057	4,628,772	247,640	2013	5 - 40
1260-1274 Ellis Street	Bensenville,IL	—	*	2,298,560	4,020,382	360,126		2,298,560	4,380,508	6,679,068	403,950	2013	5 - 40
371-377 Meyer Road	Bensenville,IL	—	*	1,903,423	3,563,953	301,673		1,903,423	3,865,626	5,769,049	360,978	2013	5 - 40
850-880 Devon Ave	Bensenville,IL	—	*	2,958,756	7,959,013	693,361		2,958,756	8,652,374	11,611,130	709,605	2013	5 - 40
10 Emery Street	Bethlehem, PA	—		5,591,216	32,941,818	7,229,427		8,945,327	36,817,134	45,762,461	1,410,917	2014	5 - 40
2785 Commerce Center Boulevard	Bethlehem, PA	—		11,961,623	—	46,707,077		12,009,985	46,658,715	58,668,700	3,031,218	2011	5 - 40
74 West Broad Street	Bethlehem, PA	—		1,096,127	—	14,540,256		1,099,079	14,537,304	15,636,383	6,410,073	2002	5 - 40
10801 Nesbitt Avenue South	Bloomington, MN	—		784,577	—	5,010,219		786,382	5,008,414	5,794,796	1,851,425	2001	5 - 40
5705 Old Shakopee Road	Bloomington, MN	—		2,113,223	—	6,276,164		2,148,571	6,240,816	8,389,387	2,115,865	2001	5 - 40
5715 Old Shakopee Road West	Bloomington, MN	—		1,263,226	2,360,782	2,316,756		1,264,758	4,676,006	5,940,764	1,939,380	2002	5 - 40
5735 Old Shakopee Road West	Bloomington, MN	—		1,263,226	2,360,782	1,006,356		1,264,758	3,365,606	4,630,364	1,105,007	2002	5 - 40
5775 West Old Shakopee Road	Bloomington, MN	—		2,052,018	3,849,649	1,676,375		2,060,644	5,517,398	7,578,042	2,251,291	2002	5 - 40
6161 Green Valley Drive	Bloomington, MN	—		740,378	3,311,602	1,680,574		709,961	5,022,593	5,732,554	2,271,251	1992	5 - 40
6601-6625 W. 78th Street	Bloomington, MN	—		2,263,060	—	42,098,480		2,310,246	42,051,294	44,361,540	17,834,890	1998	5 - 40
750 Park of Commerce Boulevard	Boca Raton, FL	—		2,430,000	—	22,337,738		2,473,406	22,294,332	24,767,738	3,985,949	2007	5 - 40
777 Yamato Road	Boca Raton, FL	—		4,101,247	16,077,347	5,344,482		4,501,247	21,021,829	25,523,076	8,875,993	1987	5 - 40
951 Broken Sound Parkway	Boca Raton, FL	—		1,426,251	6,098,952	2,001,056		1,426,251	8,100,008	9,526,259	3,964,177	1986	5 - 40
1455 Remington Boulevard	Bolingbrook, IL	—		2,501,294	10,704,719	1,170		2,501,294	10,705,889	13,207,183	879,209	2012	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost				Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
150 E Crossroads Parkway	Bolingbrook, IL	—	*	3,078,949	14,143,377	1,124,578		3,078,949	15,267,955	18,346,904	1,166,216	2013	5 - 40
553 S Joliet Avenue	Bolingbrook, IL	—	*	3,764,831	15,109,947	1,296,625		3,764,831	16,406,572	20,171,403	1,508,882	2013	5 - 40
400 Boulder Drive	Breinigsville, PA	—		2,859,106	—	10,599,615		2,865,575	10,593,146	13,458,721	3,094,910	2003	5 - 40
8201 Industrial Boulevard	Breinigsville, PA	—		2,089,719	—	8,353,910		2,222,168	8,221,461	10,443,629	2,038,762	2006	5 - 40
8500 Industrial Bouldvard	Breinigsville, PA	—		8,752,708	—	39,866,096		11,511,499	37,107,305	48,618,804	9,089,031	2007	5 - 40
860 Nestle Way	Breinigsville, PA	—		8,118,881	18,885,486	7,417,175		8,118,881	26,302,661	34,421,542	8,792,764	2004	5 - 40
1485 W. Commerce Avenue	Carlisle, PA	—		4,249,868	13,886,039	2,344,063		4,095,262	16,384,708	20,479,970	6,043,883	2004	5 - 40
40 Logistics Drive	Carlisle, PA	—		7,981,850	—	33,008,825		8,081,272	32,909,403	40,990,675	3,013,072	2011	5 - 40
135-195 East Elk Trail	Carol Stream, IL	—		4,873,094	12,430,320	594,561		4,873,094	13,024,881	17,897,975	694,475	2013	5 - 40
515 Kehoe Boulevard	Carol Stream, IL	—		5,523,427	14,581,705	203,950		5,523,427	14,785,655	20,309,082	943,841	2013	5 - 40
1413 Bradley Lane	Carrollton, TX	—	*	247,477	2,028,322	83,523		247,477	2,111,845	2,359,322	176,999	2013	5 - 40
3200 Belmeade Drive	Carrollton, TX	—		1,042,453	8,027,974	414,235		1,042,453	8,442,209	9,484,662	634,295	2013	5 - 40
1475 Nitterhouse Drive	Chambersburg, PA	—		7,081,007	39,002,011	2,091,556		7,081,007	41,093,567	48,174,574	3,258,216	2013	5 - 40
95 Kriner Road	Chambersburg, PA	—		8,695,501	—	34,926,589		9,407,871	34,214,219	43,622,090	6,917,933	2006	5 - 40
9000 109th Street	Champlain, MN	—	*	1,251,043	11,662,995	119,919		1,251,043	11,782,914	13,033,957	1,473,425	2011	5 - 40
11701 Goodrich Drive	Charlotte, NC	—		2,054,621	6,356,151	817,623		2,054,621	7,173,773	9,228,394	1,015,254	2013	5 - 40
12810 Virkler Drive	Charlotte, NC	—		475,368	2,367,586	738,197		476,262	3,104,888	3,581,150	380,450	2010	5 - 40
2700 Hutchinson McDonald Road	Charlotte, NC	—		912,500	4,721,259	309,842		912,500	5,031,101	5,943,601	613,658	2011	5 - 40
2701 Hutchinson McDonald Road	Charlotte, NC	—		1,275,000	4,649,750	630,260		1,275,000	5,280,010	6,555,010	666,561	2011	5 - 40
2730 Hutchinson McDonald Road	Charlotte, NC	—		1,878,750	10,129,499	43,022		1,878,750	10,172,521	12,051,271	1,162,053	2011	5 - 40
2801 Hutchinson McDonald Road	Charlotte, NC	—		1,065,000	6,975,250	213,916		1,065,000	7,189,166	8,254,166	872,805	2011	5 - 40
3000 Crosspoint Center Lane	Charlotte, NC	—		1,831,250	10,779,412	1,032,234		1,831,250	11,811,646	13,642,896	1,371,005	2011	5 - 40
3005 Crosspoint Center Lane	Charlotte, NC	—		1,990,000	6,561,540	665,107		1,990,000	7,226,647	9,216,647	780,369	2011	5 - 40
4045 Perimeter West Drive	Charlotte, NC	—		1,418,928	7,511,050	(52,318	)	1,418,928	7,458,732	8,877,660	970,146	2011	5 - 40
4047 Perimeter West Drive	Charlotte, NC	—		1,279,004	—	6,399,096		1,279,004	6,399,096	7,678,100	688,283	2011	5 - 40
4525 Statesville Road	Charlotte, NC	—		841,250	5,279,315	316,750		837,144	5,600,171	6,437,315	654,702	2011	5 - 40
4835 Sirona Drive	Charlotte, NC	3,210,583		690,750	5,086,388	102,104		690,750	5,188,492	5,879,242	474,733	2012	5 - 40
4925 Sirona Drive	Charlotte, NC	3,238,688		603,003	4,969,011	107,476		603,003	5,076,487	5,679,490	544,133	2012	5 - 40
5033 Sirona Drive	Charlotte, NC	2,622,886		509,247	4,710,218	166,524		613,962	4,772,027	5,385,989	455,174	2012	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost				Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
5039 Sirona Drive	Charlotte, NC	—		1,027,500	6,172,807	23,107		1,027,500	6,195,914	7,223,414	197,115	2014	5 - 40
8910 Pioneer Avenue	Charlotte, NC	—		527,873	4,959,206	(21,446	)	527,873	4,937,760	5,465,633	497,449	2011	5 - 40
8916 Pioneer Avenue	Charlotte, NC	—		557,730	5,785,333	347,238		557,730	6,132,571	6,690,301	719,728	2011	5 - 40
2601 Indian River Road	Chesapeake, VA	—	*	1,711,746	10,418,032	437,088		1,711,746	10,855,120	12,566,866	885,048	2013	5 - 40
1540 S 54th Avenue	Cicero, IL	—		3,540,236	20,130,552	928,916		3,540,236	21,059,468	24,599,704	1,581,479	2013	5 - 40
4650 Lake Forest Drive	Cinncinnati, OH	—		1,030,242	4,003,024	233,667		1,030,242	4,236,690	5,266,932	357,652	2013	5 - 40
4750 Lake Forest Drive	Cinncinnati, OH	—		1,138,166	5,914,789	197,670		1,138,166	6,112,459	7,250,625	523,185	2013	5 - 40
9645 Gerwig Lane	Columbia, MD	—		1,915,960	6,461,228	320,391		1,915,960	6,781,619	8,697,579	578,261	2013	5 - 40
2550 John Glenn Avenue	Columbus, OH	—		540,601	5,129,342	869,575		540,601	5,998,917	6,539,518	406,007	2013	5 - 40
3800 Twin Creeks Drive	Columbus, OH	—		549,393	4,643,302	491,170		549,393	5,134,472	5,683,865	362,302	2013	5 - 40
330 South Royal Lane	Coppell, TX	—		2,091,426	—	11,002,754		2,091,426	11,002,754	13,094,180	65,097	2015	5 - 40
455 Airline Drive	Coppell, TX	—	*	312,701	2,311,531	742,190		312,701	3,053,721	3,366,422	394,388	2013	5 - 40
2130 Baldwin Avenue	Crofton, MD	—		3,172,032	7,350,782	418,907		3,172,032	7,769,689	10,941,721	626,318	2013	5 - 40
329-333 Herrod Boulevard	Dayton, NJ	—	*	4,039,559	20,863,051	2,285,014		4,039,559	23,148,065	27,187,624	1,701,158	2013	5 - 40
1250 Hall Court	Deer Park, TX	—		829,570	4,778,327	120,899		831,611	4,897,185	5,728,796	1,178,012	2006	5 - 40
301-321 S Goolsby Boulevard	Deerfield Beach, FL	—		498,136	2,781,180	184,573		498,136	2,965,753	3,463,889	197,893	2013	5 - 40
1680 Executive Drive	Duluth, GA	—		1,928,412	4,651,819	573,627		1,928,412	5,225,446	7,153,858	586,154	2013	5 - 40
1700 Executive Drive	Duluth, GA	—		1,082,072	2,496,599	458,767		1,082,072	2,955,366	4,037,438	348,680	2013	5 - 40
2670 Breckinridge Boulevard	Duluth, GA	—		1,676,415	4,567,592	568,647		1,676,415	5,136,240	6,812,655	416,765	2013	5 - 40
170 Parkway West	Duncan, SC	—		598,348	3,643,756	474,682		598,918	4,117,868	4,716,786	1,085,855	2006	5 - 40
190 Parkway West	Duncan, SC	—		551,663	3,310,993	251,300		552,211	3,561,744	4,113,955	871,587	2006	5 - 40
265 Parkway East	Duncan, SC	—		901,444	5,751,389	193,199		902,374	5,943,658	6,846,032	1,753,633	2006	5 - 40
285 Parkway East	Duncan, SC	—		975,433	5,851,990	360,530		976,393	6,211,560	7,187,953	1,558,582	2006	5 - 40
1000 Parliament Court	Durham, NC	—		2,229,000	7,064,506	81,890		2,229,000	7,146,396	9,375,396	334,717	2014	5 - 40
4226 Surles Court	Durham, NC	—		1,440,000	7,932,265	130,771		1,440,000	8,063,036	9,503,036	449,066	2014	5 - 40
4227 Surles Court	Durham, NC	—		1,500,000	5,624,030	74,695		1,500,000	5,698,724	7,198,724	249,153	2014	5 - 40
4234 Surles Court	Durham, NC	—		1,440,000	7,356,161	(4,933	)	1,440,000	7,351,228	8,791,228	395,115	2014	5 - 40
4300 Emperor Center	Durham, NC	—		1,576,500	4,240,961	114,080		1,576,500	4,355,041	5,931,541	215,916	2014	5 - 40
3169 Dodd Road	Eagan, MN	—		988,594	6,586,907	1,566		988,594	6,588,473	7,577,067	733,028	2012	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost			Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)	Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
3711 Kennebec Drive	Eagan, MN	—		999,702	4,042,589	313,808	999,702	4,356,397	5,356,099	768,996	2011	5 - 40
917 Lone Oak Road	Eagan, MN	—	*	1,493,115	6,120,455	719,188	1,493,115	6,839,643	8,332,758	709,824	2013	5 - 40
10301-10305 West 70th Street	Eden Prairie, MN	—		120,622	1,085,226	310,312	118,300	1,397,860	1,516,160	587,445	1984	5 - 40
10321 West 70th Street	Eden Prairie, MN	—		145,198	1,305,700	578,495	142,399	1,886,994	2,029,393	816,454	1984	5 - 40
10333 West 70th Street	Eden Prairie, MN	—		110,746	995,868	333,454	108,610	1,331,458	1,440,068	567,078	1984	5 - 40
10349-10357 West 70th Street	Eden Prairie, MN	—		275,903	2,481,666	900,007	270,584	3,386,992	3,657,576	1,603,975	1985	5 - 40
10365-10375 West 70th Street	Eden Prairie, MN	—		291,077	2,618,194	1,530,128	285,464	4,153,935	4,439,399	1,596,638	1985	5 - 40
10393-10394 West 70th Street	Eden Prairie, MN	—		269,618	2,423,318	2,319,934	264,419	4,748,451	5,012,870	1,600,330	1985	5 - 40
10400 Viking Drive	Eden Prairie, MN	—		2,912,391	—	23,674,446	2,938,372	23,648,465	26,586,837	10,860,957	1999	5 - 40
7075 Flying Cloud Drive	Eden Prairie, MN	—		10,232,831	10,855,851	1,408,606	10,243,977	12,253,310	22,497,287	2,424,879	2007	5 - 40
7078 Shady Oak Road	Eden Prairie, MN	—		343,093	3,085,795	1,528,369	336,481	4,620,776	4,957,257	2,237,010	1985	5 - 40
7615 Smetana Lane	Eden Prairie, MN	—		1,011,517	—	9,043,293	3,000,555	7,054,255	10,054,810	2,778,882	2001	5 - 40
7625 Smetana Lane	Eden Prairie, MN	—		4,500,641	—	3,411,028	1,916,609	5,995,060	7,911,669	1,577,903	2006	5 - 40
7695-7699 Anagram Drive	Eden Prairie, MN	—		760,525	3,254,758	1,204,632	760,525	4,459,390	5,219,915	2,315,503	1997	5 - 40
7777 Golden Triangle Drive	Eden Prairie, MN	—		993,101	2,136,862	1,299,413	993,101	3,436,274	4,429,375	1,545,239	2000	5 - 40
7800 Equitable Drive	Eden Prairie, MN	—		2,188,525	3,788,762	545,644	2,188,525	4,334,405	6,522,930	1,753,415	1993	5 - 40
7905 Fuller Road	Eden Prairie, MN	—		1,229,862	4,075,167	1,980,136	1,230,965	6,054,200	7,285,165	3,491,555	1994	5 - 40
8855 Columbine Road	Eden Prairie, MN	—		1,400,925	—	5,199,574	1,599,757	5,000,742	6,600,499	1,448,477	2000	5 - 40
8911 Columbine Road	Eden Prairie, MN	—		916,687	—	4,465,073	1,718,407	3,663,353	5,381,760	1,135,266	2000	5 - 40
8937 Columbine Road	Eden Prairie, MN	—		1,325,829	—	5,872,477	1,739,966	5,458,340	7,198,306	1,690,162	2001	5 - 40
8967 Columbine Road	Eden Prairie, MN	—		1,450,000	—	4,536,312	1,450,000	4,536,312	5,986,312	1,720,545	2000	5 - 40
8995 Columbine Road	Eden Prairie, MN	—		1,087,594	—	4,610,464	2,055,296	3,642,762	5,698,058	1,261,670	2001	5 - 40
9023 Columbine Road	Eden Prairie, MN	—		1,956,273	—	6,217,735	1,956,273	6,217,735	8,174,008	2,480,335	1999	5 - 40
2250 Arthur Avenue	Elk Grove, IL	—		1,403,196	2,386,396	110,769	1,403,196	2,497,165	3,900,361	201,931	2013	5 - 40
6600 Business Parkway	Elkridge, MD	—		3,680,220	14,671,910	649,715	3,680,220	15,321,625	19,001,845	1,019,695	2013	5 - 40
6675 Business Parkway	Elkridge, MD	—	*	2,421,854	9,730,192	421,361	2,421,854	10,151,553	12,573,407	687,926	2013	5 - 40
7351 Coca Cola Drive	Elkridge, MD	—		1,897,044	—	7,288,821	3,023,417	6,162,448	9,185,865	1,640,052	2006	5 - 40
21705-21707 Mississippi Street	Elwood, IL	—		10,594,259	30,329,802	895,205	10,594,259	31,225,008	41,819,267	3,644,519	2011	5 - 40
27143 S. Baseline Road	Elwood, IL	—		6,022,000	5,612,934	318,163	6,022,000	5,931,097	11,953,097	755,221	2011	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost			Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)	Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1800 Donaldson Road	Erlanger, KY	—		—	13,211,604	653,387	—	13,864,991	13,864,991	2,037,866	2013	5 - 40
180 Sheree Boulevard	Exton, PA	—		2,647,861	11,334,403	2,496,920	2,649,426	13,829,758	16,479,184	3,777,650	2007	5 - 40
6880 Fairfield Drive	Fairfield, OH	—		412,136	3,029,177	74,745	412,136	3,103,922	3,516,058	235,064	2013	5 - 40
7000-7018 Fairfield Business	Fairfield, OH	—		367,925	2,205,817	87,643	367,925	2,293,460	2,661,385	185,674	2013	5 - 40
10721 Jasmine Street	Fontana, CA	—		11,427,061	23,784,779	1,682,426	11,427,061	25,467,205	36,894,266	390,283	2015	5 - 40
2000 Southpointe Drive	Forest Park, GA	—		756,221	9,115,626	508,486	756,221	9,624,112	10,380,333	770,103	2013	5 - 40
1400 NW 65th Place	Fort Lauderdale, FL	—		545,480	2,540,210	66,119	545,480	2,606,329	3,151,809	179,068	2013	5 - 40
6500 NW 12th Avenue	Fort Lauderdale, FL	—		—	3,064,734	312,146	—	3,376,880	3,376,880	275,900	2013	5 - 40
6501 NW 12th Avenue	Fort Lauderdale, FL	—		519,984	2,677,465	51,998	519,984	2,729,463	3,249,447	198,088	2013	5 - 40
6600 NW 12th Avenue	Fort Lauderdale, FL	—		—	2,988,181	189,131	—	3,177,312	3,177,312	262,429	2013	5 - 40
5400 Alliance Gateway Freeway	Fort Worth, TX	—		1,515,860	6,710,118	417,705	1,515,860	7,127,823	8,643,683	699,894	2013	5 - 40
9601 Cosner Drive	Fredericksburg, VA	—		475,262	3,917,234	242,595	475,262	4,159,829	4,635,091	2,142,481	1995	5 - 40
5410 - 5430 Northwest 33rd Avenue	Ft. Lauderdale, FL	—		603,776	4,176,238	1,948,374	625,111	6,103,277	6,728,388	2,708,183	1985	5 - 40
12601 Industry Street	Garden Grove, CA	—		2,048,143	1,088,697	70,518	2,048,143	1,159,215	3,207,358	166,449	2013	5 - 40
12641 Industry Street	Garden Grove, CA	—		3,766,822	2,539,214	132,812	3,766,822	2,672,026	6,438,848	221,193	2013	5 - 40
12681-12691 Pala Drive	Garden Grove, CA	—		5,221,102	3,225,596	83,450	5,220,148	3,310,000	8,530,148	162,254	2014	5 - 40
850 S Jupiter Road	Garland, TX	—		799,707	6,122,065	442,326	799,707	6,564,391	7,364,098	501,325	2013	5 - 40
2510 W Main Street	Grand Prairie, TX	—	*	1,785,741	11,158,818	988,249	1,785,741	12,147,067	13,932,808	1,226,296	2013	5 - 40
4251 North Highway 121	Grapevine, TX	—	*	1,165,780	7,799,270	422,135	1,165,780	8,221,404	9,387,184	696,539	2013	5 - 40
116 Pleasant Ridge Road	Greenville, SC	—		1,547,811	—	14,182,834	3,712,683	12,017,962	15,730,645	2,299,069	2006	5 - 40
25 Brookfield Oaks Drive	Greenville, SC	—		288,823	3,441,512	43,182	288,823	3,484,694	3,773,517	252,214	2014	5 - 40
45 Brookfield Oaks Drive	Greenville, SC	—		818,114	—	4,470,587	825,529	4,463,172	5,288,701	1,000,248	2006	5 - 40
2011 Southtech Drive	Greenwood, IN	—		223,702	3,574,142	325,468	223,702	3,899,610	4,123,312	358,722	2013	5 - 40
2121 Southtech Drive	Greenwood, IN	—		272,823	3,606,920	412,167	272,823	4,019,088	4,291,911	478,262	2013	5 - 40
800 Commerce Parkway West Drive	Greenwood, IN	—		1,374,664	29,963,830	1,612,346	1,374,664	31,576,176	32,950,840	2,318,432	2013	5 - 40
110 Caliber Ridge Drive	Greer, SC	—		555,549	—	6,331,158	1,228,880	5,657,827	6,886,707	178,544	2014	5 - 40
140 Caliber Ridge Drive	Greer, SC	—		1,243,100	—	6,425,239	1,243,100	6,425,239	7,668,339	196,553	2015	5 - 40
1487 South Highway 101	Greer, SC	—		464,237	—	5,829,595	1,301,738	4,992,094	6,293,832	878,328	2007	5 - 40
2727 London Grove Road	Groveport, OH	—		1,875,607	11,937,935	334,714	1,875,607	12,272,649	14,148,256	1,085,883	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost				Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
11835 Newgate Boulevard	Hagerstown, MD	—		14,121,622	—	23,025,928		14,121,622	23,025,928	37,147,550	596,879	2015	5 - 40
11841 Newgate Boulevard	Hagerstown, MD	—		3,356,207	—	30,555,105		9,741,685	24,169,627	33,911,312	5,114,351	2008	5 - 40
1560 Hunter Road	Hanover Park, IL	—	*	2,639,734	12,310,741	579,936		2,639,734	12,890,677	15,530,411	981,769	2013	5 - 40
1575 Hunter Road	Hanover Park, IL	—	*	3,293,284	17,235,926	933,187		3,293,284	18,169,113	21,462,397	1,390,165	2013	5 - 40
7361 Coca Cola Drive	Hanover, MD	—		2,245,187	—	9,393,211		3,822,710	7,815,688	11,638,398	1,416,465	2004	5 - 40
7460 New Ridge Road	Hanover, MD	—		3,785,446	—	7,660,152		3,796,023	7,649,575	11,445,598	96,683	2015	5 - 40
7462 New Ridge Road	Hanover, MD	—		4,059,337	—	7,479,823		4,070,629	7,468,531	11,539,160	137,956	2015	5 - 40
500 McCarthy Drive	Harrisburg, PA	—		5,194,872	19,991,436	4,670,017		5,687,013	24,169,312	29,856,325	7,740,706	2005	5 - 40
600 Industrial Drive	Harrisburg, PA	—		7,743,800	—	29,159,534		9,368,557	27,534,777	36,903,334	7,874,305	2005	5 - 40
7195 Grayson Road	Harrisburg, PA	—		464,534	6,066,272	243,707		464,534	6,309,979	6,774,513	449,889	2013	5 - 40
7253 Grayson Road	Harrisburg, PA	—		954,130	10,585,367	506,909		954,130	11,092,276	12,046,406	728,052	2013	5 - 40
12537 Cerise Avenue	Hawthorne, CA	—		2,203,194	5,758,809	94,181		2,203,194	5,852,990	8,056,184	388,295	2013	5 - 40
1010 Petersburg Road	Hebron, KY	—		305,471	5,434,505	(819,916	)	305,471	4,614,589	4,920,060	450,646	2013	5 - 40
785 Lindbergh Court	Hebron, KY	—		401,410	3,087,899	511,543		401,410	3,599,442	4,000,852	372,958	2013	5 - 40
805 Lindbergh Court	Hebron, KY	—		292,096	2,502,486	156,556		292,096	2,659,041	2,951,137	244,630	2013	5 - 40
825 Lindbergh Court	Hebron, KY	—		370,149	3,095,116	357,185		370,149	3,452,302	3,822,451	333,114	2013	5 - 40
845 Lindbergh Court	Hebron, KY	—		444,318	3,811,889	257,404		444,318	4,069,293	4,513,611	356,426	2013	5 - 40
1498 Eagle Hill Drive	High Point, NC	—		94,274	—	6,220,665		791,880	5,523,059	6,314,939	1,345,655	2005	5 - 40
4183 Eagle Hill Drive	High Point, NC	—		122,203	—	3,216,383		526,266	2,812,320	3,338,586	1,102,988	2001	5 - 40
4189 Eagle Hill Drive	High Point, NC	—		100,106	—	3,610,018		431,106	3,279,018	3,710,124	1,476,028	2001	5 - 40
4195 Eagle Hill Drive	High Point, NC	—		107,586	—	3,391,467		505,700	2,993,353	3,499,053	818,988	2004	5 - 40
4328, 4336 Federal Drive	High Point, NC	1,055,450		521,122	—	5,069,178		825,092	4,765,208	5,590,300	2,212,331	1995	5 - 40
4344 Federal Drive	High Point, NC	—		484,001	—	3,072,355		173,623	3,382,733	3,556,356	1,673,063	1996	5 - 40
4380 Federal Drive	High Point, NC	—		282,996	—	2,161,830		283,368	2,161,458	2,444,826	1,055,218	1997	5 - 40
4388 Federal Drive	High Point, NC	—		143,661	—	1,214,707		132,655	1,225,713	1,358,368	573,704	1997	5 - 40
4475 Premier Drive	High Point, NC	—		748,693	—	6,806,479		1,525,421	6,029,751	7,555,172	1,127,972	2006	5 - 40
4500 Green Point Drive	High Point, NC	—		230,622	—	2,805,986		231,692	2,804,916	3,036,608	1,447,046	1989	5 - 40
4501 Green Point Drive	High Point, NC	—		319,289	—	3,166,402		320,450	3,165,241	3,485,691	1,766,943	1989	5 - 40
4523 Green Point Drive	High Point, NC	—		234,564	—	3,339,774		235,698	3,338,640	3,574,338	2,105,912	1988	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost				Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
4524 Green Point Drive	High Point, NC	—		182,810	—	2,779,342		183,888	2,778,264	2,962,152	1,656,145	1989	5 - 40
Unit 5 Logix Road	Hinckley, UK	—		10,547,677	29,691,911	(4,425,698	)	9,387,605	26,426,285	35,813,890	1,750,647	2013	5 - 40
1515 6th Street South	Hopkins,MN	—		813,036	1,503,075	364,382		813,036	1,867,457	2,680,493	268,536	2013	5 - 40
1600 5th Street South	Hopkins,MN	—		339,336	2,106,454	80,794		339,336	2,187,249	2,526,585	159,476	2013	5 - 40
1000 South Loop West	Houston, TX	—	*	509,351	3,549,504	863,453		509,351	4,412,957	4,922,308	398,539	2013	5 - 40
10241 W Little York Road	Houston, TX	—		558,491	5,740,552	133,643		558,491	5,874,195	6,432,686	396,734	2013	5 - 40
10245 W Little York Road	Houston, TX	—		426,927	3,460,513	379,988		426,927	3,840,501	4,267,428	378,078	2013	5 - 40
10301 Round Up Lane	Houston, TX	—		545,501	2,927,700	1,023,687		545,501	3,951,386	4,496,887	424,803	2010	5 - 40
10305 Round Up Lane	Houston, TX	—		1,340,609	7,489,720	3,358,808		1,340,609	10,848,527	12,189,136	1,876,354	2010	5 - 40
1050 Greens Parkway	Houston, TX	—		973,482	—	3,627,200		992,093	3,608,589	4,600,682	122,958	2015	5 - 40
10607 Haddington Drive	Houston, TX	—	*	201,469	1,631,561	132,607		201,469	1,764,169	1,965,638	148,538	2013	5 - 40
10735 West Little York Road	Houston, TX	—		1,110,988	6,351,946	3,274,945		1,135,483	9,602,396	10,737,879	3,102,435	2000	5 - 40
10739 West Little York Road	Houston, TX	—		797,931	5,950,894	458,927		799,560	6,408,192	7,207,752	2,214,384	1999	5 - 40
11201 Greens Crossing Boulevard	Houston, TX	—		1,006,194	5,412,584	2,781,419		1,008,542	8,191,655	9,200,197	2,351,372	2007	5 - 40
11220 Ella Boulevard	Houston, TX	—		1,505,855	—	7,397,354		1,534,644	7,368,565	8,903,209	162,097	2015	5 - 40
1283 N Post Oak Road	Houston, TX	—	*	80,730	870,656	145,476		80,730	1,016,132	1,096,862	91,740	2013	5 - 40
1287 N Post Oak Road	Houston, TX	—	*	146,654	1,620,780	59,710		146,654	1,680,489	1,827,143	163,411	2013	5 - 40
1291 N Post Oak Road	Houston, TX	—	*	510,102	4,129,042	442,674		510,102	4,571,716	5,081,818	389,908	2013	5 - 40
1416 N Sam Houston Parkway East	Houston, TX	—	*	218,850	1,639,902	553,328		218,850	2,193,229	2,412,079	188,352	2013	5 - 40
1420 N Sam Houston Parkway East	Houston, TX	—	*	211,279	1,554,156	114,556		211,279	1,668,712	1,879,991	145,411	2013	5 - 40
14200 Hollister Road	Houston, TX	—		1,396,794	—	4,859,739		1,699,632	4,556,901	6,256,533	417,555	2011	5 - 40
1424 N Sam Houston Parkway East	Houston, TX	—	*	283,107	2,077,323	287,441		283,107	2,364,764	2,647,871	205,864	2013	5 - 40
1428 N Sam Houston Parkway East	Houston, TX	—	*	367,446	1,952,453	143,093		367,446	2,095,545	2,462,991	184,076	2013	5 - 40
14300 Hollister Road	Houston, TX	—	*	1,377,193	—	5,679,691		1,405,899	5,650,985	7,056,884	329,025	2014	5 - 40
14400 Hollister Road	Houston, TX	—	*	1,830,419	—	7,239,740		1,861,540	7,208,619	9,070,159	879,677	2012	5 - 40
15102 Sommermeyer Street	Houston, TX	—		755,121	3,155,774	247,397		755,121	3,403,171	4,158,292	308,320	2013	5 - 40
15150 Sommermeyer Street	Houston, TX	—		418,580	1,564,587	230,574		418,580	1,795,161	2,213,741	167,358	2013	5 - 40
16330 Central Green Boulevard	Houston, TX	—		1,540,109	—	8,528,507		1,966,472	8,102,144	10,068,616	410,845	2014	5 - 40
16405 Air Center Boulevard	Houston, TX	—		438,853	3,030,396	510,089		438,853	3,540,485	3,979,338	1,716,546	1997	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost			Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)	Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
16420 West Hardy Road	Houston, TX	—		529,876	3,267,872	334,634	529,876	3,602,506	4,132,382	266,194	2013	5 - 40
16445 Air Center Boulevard	Houston, TX	—		363,339	2,509,186	288,397	363,339	2,797,583	3,160,922	1,278,617	1997	5 - 40
1646 Rankin Road	Houston, TX	—		329,961	—	5,128,210	592,234	4,865,937	5,458,171	1,215,130	2005	5 - 40
1655 Townhurst Drive	Houston, TX	—	*	197,226	935,036	524,936	197,226	1,459,972	1,657,198	148,054	2013	5 - 40
16580 Air Center Boulevard	Houston, TX	—		289,000	3,559,857	1,285,142	289,000	4,845,000	5,134,000	1,796,918	1997	5 - 40
16602 Central Green Boulevard	Houston, TX	—		284,403	—	5,162,588	503,779	4,943,212	5,446,991	1,242,290	2005	5 - 40
16605 Air Center Boulevard	Houston, TX	—		298,999	—	3,423,751	496,186	3,226,564	3,722,750	1,102,188	2002	5 - 40
1665 Townhurst Drive	Houston, TX	—	*	452,439	2,016,585	57,074	452,439	2,073,658	2,526,097	144,198	2013	5 - 40
16680 Central Green Boulevard	Houston, TX	—		311,952	—	4,169,789	492,869	3,988,872	4,481,741	1,148,408	2001	5 - 40
16685 Air Center Boulevard	Houston, TX	—		414,691	—	2,463,366	414,691	2,463,366	2,878,057	710,865	2004	5 - 40
1755 Trans Central Drive	Houston, TX	—		293,534	3,036,269	1,334,826	306,147	4,358,482	4,664,629	1,321,325	1999	5 - 40
4301 S Pinemont Drive	Houston, TX	—	*	226,973	1,174,979	77,965	226,973	1,252,944	1,479,917	125,330	2013	5 - 40
4401 S Pinemont Drive	Houston, TX	—	*	244,240	1,412,622	101,328	244,240	1,513,950	1,758,190	212,509	2013	5 - 40
4501 S Pinemont Drive	Houston, TX	—	*	252,907	1,504,053	68,496	252,907	1,572,549	1,825,456	182,795	2013	5 - 40
5200 N. Sam Houston Parkway	Houston, TX	—		1,519,458	7,135,548	3,703,478	1,520,074	10,838,410	12,358,484	2,963,534	2007	5 - 40
5250 N. Sam Houston Parkway	Houston, TX	—		2,173,287	8,868,256	2,745,460	2,173,942	11,613,061	13,787,003	2,762,980	2007	5 - 40
5500 N. Sam Houston Parkway West	Houston, TX	—		1,243,541	—	6,456,833	1,513,152	6,187,222	7,700,374	845,387	2011	5 - 40
8017 Pinemont Drive	Houston, TX	—		900,953	5,323,727	401,019	900,953	5,724,746	6,625,699	393,315	2013	5 - 40
8272 El Rio Street	Houston, TX	—	*	530,494	4,108,626	302,577	530,494	4,411,203	4,941,697	349,877	2013	5 - 40
8282 El Rio Street	Houston, TX	—	*	450,422	3,304,942	1,076,398	450,422	4,381,340	4,831,762	348,376	2013	5 - 40
8301 Fallbrook Drive	Houston, TX	—		4,515,862	—	26,899,370	7,083,514	24,331,718	31,415,232	4,891,588	2006	5 - 40
8303 Fallbrook Drive	Houston, TX	—		4,613,370	—	13,408,133	4,858,012	13,163,491	18,021,503	175,130	2015	5 - 40
850 Greens Parkway	Houston, TX	—		2,893,405	11,593,197	2,914,238	2,899,861	14,500,978	17,400,839	2,963,281	2007	5 - 40
860 Greens Parkway	Houston, TX	—		1,399,365	6,344,650	1,583,440	1,374,012	7,953,443	9,327,455	1,694,472	2007	5 - 40
8801-19 & 8821-49 Fallbrook Drive	Houston, TX	—		2,290,001	15,297,141	2,077,957	2,290,002	17,375,097	19,665,099	5,655,134	2000	5 - 40
8802-8824 Fallbrook Drive	Houston, TX	—		2,774,995	6,364,767	1,366,797	2,775,021	7,731,537	10,506,558	2,582,582	2004	5 - 40
8825-8839 N Sam Houston Parkway	Houston, TX	—		638,453	3,258,815	691,043	638,477	3,949,833	4,588,310	1,117,598	2004	5 - 40
8850-8872 Fallbrook Drive	Houston, TX	—		504,317	2,878,351	1,229,017	504,341	4,107,344	4,611,685	1,594,524	2004	5 - 40
Liberty 11 at Central Green	Houston, TX	—		1,748,348	—	9,341,500	2,120,319	8,969,529	11,089,848	823,048	2012	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost				Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
Cabot III UK1B01	Isle of Man, UK	—		11,888,058	35,003,668	(5,157,005	)	10,580,565	31,154,156	41,734,721	1,992,227	2013	5 - 40
1011 N Hilltop Drive	Itasca, IL	—		842,043	984,087	189,936		842,043	1,174,023	2,016,066	88,861	2013	5 - 40
1035 N Hilltop Drive	Itasca, IL	—		875,172	2,071,051	121,166		875,172	2,192,218	3,067,390	138,233	2013	5 - 40
1549 W Glenlake Avenue	Itasca, IL	—		1,339,627	3,763,288	185,677		1,339,627	3,948,964	5,288,591	291,168	2013	5 - 40
901 N Hilltop Drive	Itasca, IL	—		866,378	2,112,616	47,808		866,378	2,160,424	3,026,802	147,854	2013	5 - 40
925 N Hilltop Drive	Itasca, IL	—		945,251	2,010,181	47,379		945,251	2,057,560	3,002,811	136,677	2013	5 - 40
8241 Sandy Court	Jessup, MD	—		1,246,618	6,844,393	651,604		1,246,618	7,495,996	8,742,614	540,291	2013	5 - 40
8242 Sandy Court	Jessup, MD	—		1,488,746	9,072,440	1,208,798		1,488,746	10,281,238	11,769,984	768,853	2013	5 - 40
8246 Sandy Court	Jessup, MD	—		590,922	3,374,522	112,794		590,922	3,487,316	4,078,238	255,854	2013	5 - 40
1305 Chastain Road NW	Kennesaw, GA	—	*	808,159	5,712,959	1,017,065		808,159	6,730,024	7,538,183	586,156	2013	5 - 40
1325 Chastain Road NW	Kennesaw, GA	—	*	1,612,924	9,771,680	1,389,657		1,612,924	11,161,337	12,774,261	1,143,207	2013	5 - 40
3600 Cobb International Boulevard NW	Kennesaw, GA	—		716,860	6,962,212	442,015		716,860	7,404,228	8,121,088	656,764	2013	5 - 40
Unit 1 Bear Way	Kettering, UK	—		10,849,890	36,219,855	(5,176,905	)	9,656,579	32,236,261	41,892,840	2,079,669	2013	5 - 40
151 South Warner Road	King of Prussia, PA	—		1,218,086	6,937,866	6,843,514		1,187,900	13,811,566	14,999,466	2,523,628	1980	5 - 40
2100 Renaissance Boulevard	King of Prussia, PA	—		1,110,111	—	12,333,739		1,132,519	12,311,331	13,443,850	4,888,805	1999	5 - 40
2201 Renaissance Boulevard	King of Prussia, PA	—		2,370,895	—	15,284,223		2,413,514	15,241,604	17,655,118	6,642,496	2000	5 - 40
2300 Renaissance Boulevard	King of Prussia, PA	—		509,580	—	3,059,700		574,152	2,995,128	3,569,280	1,636,559	1999	5 - 40
2301 Renaissance Boulevard	King of Prussia, PA	—		1,645,246	—	30,080,438		4,581,649	27,144,035	31,725,684	11,446,832	2002	5 - 40
2500 Renaissance Boulevard	King of Prussia, PA	—		509,580	—	2,665,152		592,886	2,581,846	3,174,732	1,328,497	1999	5 - 40
2520 Renaissance Boulevard	King of Prussia, PA	—		1,020,000	—	4,985,162		978,402	5,026,760	6,005,162	1,504,856	1999	5 - 40
2560 Renaissance Boulevard	King of Prussia, PA	—		607,210	—	2,652,052		649,792	2,609,470	3,259,262	1,031,061	2000	5 - 40
2700 Horizon Drive	King of Prussia, PA	—		764,370	—	3,187,801		867,815	3,084,356	3,952,171	1,338,373	1998	5 - 40
2900 Horizon Drive	King of Prussia, PA	—		679,440	—	3,516,054		774,096	3,421,398	4,195,494	1,676,885	1998	5 - 40
3000 Horizon Drive	King of Prussia, PA	—		1,191,449	—	2,476,299		946,703	2,721,045	3,667,748	1,184,789	1997	5 - 40
3100 Horizon Drive	King of Prussia, PA	—		601,956	—	2,235,108		611,436	2,225,628	2,837,064	938,955	1995	5 - 40
3200 Horizon Drive	King of Prussia, PA	—		928,637	—	7,367,311		1,210,137	7,085,811	8,295,948	2,918,094	1996	5 - 40
3400 Horizon Drive	King of Prussia, PA	—		776,496	3,139,068	1,537,958		776,496	4,677,025	5,453,521	2,124,950	1995	5 - 40
3500 Horizon Drive	King of Prussia, PA	—		1,204,839	—	2,830,072		1,223,875	2,811,036	4,034,911	1,352,895	1996	5 - 40
3600 Horizon Drive	King of Prussia, PA	—		236,432	1,856,252	822,286		236,432	2,678,538	2,914,970	1,229,096	1989	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
			Initial Cost			Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)	Land	Building	Costs Capitalized Subsequent to Acquisition (2)	Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
3602 Horizon Drive	King of Prussia, PA	—	217,734	1,759,489	420,954	217,809	2,180,368	2,398,177	1,086,908	1989	5 - 40
3604 Horizon Drive	King of Prussia, PA	—	397,178	—	1,836,269	350,874	1,882,573	2,233,447	1,010,560	1998	5 - 40
440 East Swedesford Road	King of Prussia, PA	—	717,001	4,816,121	2,824,138	717,001	7,640,259	8,357,260	4,114,770	1988	5 - 40
460 East Swedesford Road	King of Prussia, PA	—	705,317	4,737,487	4,293,459	705,317	9,030,946	9,736,263	4,118,174	1988	5 - 40
650 Swedesford Road	King of Prussia, PA	—	952,911	6,722,830	8,145,922	952,911	14,868,752	15,821,663	7,525,591	1971	5 - 40
680 Swedesford Road	King of Prussia, PA	—	952,361	6,722,830	7,217,277	952,361	13,940,107	14,892,468	7,102,027	1971	5 - 40
1700 Interstate Drive	Lakeland, FL	—	650,000	5,444,220	—	650,000	5,444,220	6,094,220	470,057	2012	5 - 40
5801 Columbia Park Road	Landover,MD	—	1,187,620	4,598,346	182,789	1,187,620	4,781,135	5,968,755	376,118	2013	5 - 40
11425 State Highway 225	LaPorte, TX	—	975,974	3,409,036	100,699	977,542	3,508,166	4,485,708	896,629	2006	5 - 40
11503 State Highway 225	LaPorte, TX	—	2,561,931	9,695,493	237,274	2,566,047	9,928,651	12,494,698	2,436,228	2006	5 - 40
1701 South 16th Street	LaPorte, TX	—	4,063,262	18,719,368	14,007	4,063,262	18,733,375	22,796,637	175,899	2015	5 - 40
1842 South 16th Street	LaPorte, TX	—	2,226,284	11,976,185	1	2,226,284	11,976,185	14,202,469	121,220	2015	5 - 40
1902 South 16th Street	LaPorte, TX	—	2,369,095	14,119,020	—	2,369,095	14,119,020	16,488,115	153,661	2015	5 - 40
640 S State Road 39	Lebanon,IN	—	1,612,787	18,065,552	1,217,751	1,612,787	19,283,303	20,896,090	1,576,732	2013	5 - 40
7528 Walker Way	Lehigh, PA	—	893,441	—	5,510,457	779,330	5,624,568	6,403,898	2,002,593	2004	5 - 40
8301 Industrial Boulevard	Lehigh, PA	—	11,249,550	—	45,852,967	11,254,716	45,847,801	57,102,517	11,516,501	2005	5 - 40
8500 Willard Drive	Lehigh, PA	1,308,636	6,398,815	—	33,693,805	11,353,373	28,739,247	40,092,620	4,225,699	2004	5 - 40
875 Maxham Road	Lithia Springs, GA	—	445,493	10,160,616	560,063	445,493	10,720,679	11,166,172	817,306	2013	5 - 40
7533 Industrial Parkway	Lower Macungie, PA	—	5,603,460	18,807,987	2,473,288	5,603,460	21,281,275	26,884,735	3,285,891	2011	5 - 40
1 Country View Road	Malvern, PA	—	400,000	3,600,000	8,440,217	406,421	12,033,796	12,440,217	4,233,709	1982	5 - 40
1 Great Valley Parkway	Malvern, PA	—	419,460	3,792,570	1,497,873	419,460	5,290,443	5,709,903	2,430,271	1982	5 - 40
10 Great Valley Parkway	Malvern, PA	—	823,540	1,341,376	441,766	832,244	1,774,438	2,606,682	991,773	2003	5 - 40
10 Valley Stream Parkway	Malvern, PA	—	509,075	—	2,713,241	509,899	2,712,417	3,222,316	1,928,155	1984	5 - 40
10, 20 Liberty Boulevard	Malvern, PA	—	724,058	—	5,938,247	724,846	5,937,459	6,662,305	3,867,193	1985	5 - 40
100 Chesterfield Parkway	Malvern, PA	—	1,320,625	—	7,509,345	1,977,935	6,852,035	8,829,970	3,650,379	1998	5 - 40
1001 Cedar Hollow Road	Malvern, PA	—	1,436,814	—	16,464,560	1,676,470	16,224,904	17,901,374	8,391,087	1998	5 - 40
11 Great Valley Parkway	Malvern, PA	—	496,297	—	1,933,302	708,331	1,721,268	2,429,599	1,465,358	2001	5 - 40
11,15 Great Valley Parkway	Malvern, PA	—	1,837,050	—	14,958,472	1,837,878	14,957,644	16,795,522	13,914,941	1986	5 - 40
12,14,16 Great Valley Parkway	Malvern, PA	—	130,689	—	1,299,026	128,767	1,300,948	1,429,715	1,027,154	1982	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
			Initial Cost				Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)	Land	Building	Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
14 Lee Boulevard	Malvern, PA	—	664,282	—	5,887,728		643,892	5,908,118	6,552,010	3,948,650	1988	5 - 40
155 Great Valley Parkway	Malvern, PA	—	625,147	—	2,640,082		626,068	2,639,161	3,265,229	2,087,960	1981	5 - 40
18 Great Valley Parkway	Malvern, PA	—	394,036	3,976,221	(1,229,407	)	397,293	2,743,557	3,140,850	1,929,736	1980	5 - 40
2 West Liberty Boulevard	Malvern, PA	—	5,405,041	—	12,244,703		5,405,042	12,244,702	17,649,744	3,922,198	2003	5 - 40
20 Valley Stream Parkway	Malvern, PA	—	465,539	—	6,326,058		466,413	6,325,184	6,791,597	3,609,500	1987	5 - 40
200 Chesterfield Parkway	Malvern, PA	—	495,893	2,739,093	698,060		812,745	3,120,301	3,933,046	2,560,393	1989	5 - 40
257-275 Great Valley Parkway	Malvern, PA	—	504,611	—	5,097,623		505,458	5,096,776	5,602,234	3,762,693	1983	5 - 40
27-43 Great Valley Parkway	Malvern, PA	—	448,775	—	2,462,600		449,447	2,461,928	2,911,375	1,965,745	1977	5 - 40
277-293 Great Valley Parkway	Malvern, PA	—	530,729	—	2,293,109		531,534	2,292,304	2,823,838	1,645,958	1984	5 - 40
3 Country View Road	Malvern, PA	—	814,278	—	5,142,433		1,128,881	4,827,830	5,956,711	2,151,209	1998	5 - 40
30 Great Valley Parkway	Malvern, PA	—	128,126	—	578,846		128,783	578,189	706,972	431,050	1975	5 - 40
300 Technology Drive	Malvern, PA	—	368,626	—	1,674,659		374,497	1,668,788	2,043,285	974,979	1985	5 - 40
300-400 Chesterfield Parkway	Malvern, PA	—	937,212	—	6,310,460		1,402,795	5,844,877	7,247,672	3,158,514	1988	5 - 40
311 Technology Drive	Malvern, PA	—	397,131	—	2,710,506		397,948	2,709,689	3,107,637	2,087,871	1984	5 - 40
333 Phoenixville Pike	Malvern, PA	—	523,530	—	3,708,843		524,230	3,708,143	4,232,373	2,519,003	1985	5 - 40
40 Liberty Boulevard	Malvern, PA	—	4,241,137	17,737,090	1,331,417		4,241,166	19,068,477	23,309,643	6,715,218	1989	5 - 40
40 Valley Stream Parkway	Malvern, PA	—	322,918	—	3,338,034		325,775	3,335,177	3,660,952	1,728,072	1987	5 - 40
420 Lapp Road	Malvern, PA	—	1,054,418	—	8,894,039		1,055,243	8,893,214	9,948,457	5,107,113	1989	5 - 40
425 Old Morehall Road	Malvern, PA	—	3,847,501	—	45,847,471		9,953,208	39,741,764	49,694,972	1,440,221	2014	5 - 40
425 Technology Drive	Malvern, PA	—	191,114	—	1,708,623		321,473	1,578,264	1,899,737	777,850	1998	5 - 40
45 Liberty Boulevard	Malvern, PA	—	4,380,221	—	15,322,821		4,749,748	14,953,294	19,703,042	7,853,956	1999	5 - 40
45-67 Great Valley Parkway	Malvern, PA	—	795,143	—	4,810,941		795,831	4,810,253	5,606,084	3,261,529	1974	5 - 40
5 Great Valley Parkway	Malvern, PA	—	684,200	6,181,661	2,433,278		684,200	8,614,939	9,299,139	3,892,306	1983	5 - 40
50 Morehall Road	Malvern, PA	—	849,576	—	14,095,935		1,337,076	13,608,435	14,945,511	7,142,147	1997	5 - 40
50 Valley Stream Parkway	Malvern, PA	—	323,971	—	3,097,099		323,792	3,097,278	3,421,070	1,715,770	1987	5 - 40
500 Chesterfield Parkway	Malvern, PA	—	472,364	—	3,162,401		762,370	2,872,395	3,634,765	1,822,114	1988	5 - 40
508 Lapp Road	Malvern, PA	—	331,392	—	1,653,624		332,216	1,652,800	1,985,016	1,239,476	1984	5 - 40
510 Lapp Road	Malvern, PA	—	356,950	—	926,587		357,751	925,786	1,283,537	767,105	1983	5 - 40
55 Valley Stream Parkway	Malvern, PA	—	215,005	—	4,674,159		215,818	4,673,346	4,889,164	3,362,628	1983	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost			Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)	Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
60 Morehall Road	Malvern, PA	—		865,424	9,285,000	5,598,450	884,974	14,863,900	15,748,874	9,641,208	1989	5 - 40
600 Chesterfield Parkway	Malvern, PA	—		2,013,750	—	9,359,782	2,798,565	8,574,967	11,373,532	4,318,193	1999	5 - 40
65 Valley Stream Parkway	Malvern, PA	—		381,544	—	7,371,688	382,361	7,370,871	7,753,232	5,680,759	1983	5 - 40
7 Great Valley Parkway	Malvern, PA	—		176,435	—	7,669,918	177,317	7,669,036	7,846,353	3,710,578	1985	5 - 40
700 Chesterfield Parkway	Malvern, PA	—		2,013,750	—	9,090,281	2,785,823	8,318,208	11,104,031	4,266,657	1999	5 - 40
75 Great Valley Parkway	Malvern, PA	—		143,074	—	618,372	143,811	617,635	761,446	530,257	1977	5 - 40
77-123 Great Valley Parkway	Malvern, PA	—		887,664	—	5,878,044	888,359	5,877,349	6,765,708	4,180,373	1978	5 - 40
1169 Canton Rd	Marietta, GA	—	*	1,232,219	17,897,326	437,586	1,232,219	18,334,912	19,567,131	1,266,254	2013	5 - 40
65 Brookfield Oaks Drive	Mauldin, SC	—		557,174	—	2,856,020	506,318	2,906,876	3,413,194	815,741	2004	5 - 40
75 Brookfield Oaks Drive	Mauldin, SC	—		419,731	—	2,341,147	430,909	2,329,969	2,760,878	692,328	2003	5 - 40
126-132 Liberty Industrial Parkway	McDonough, GA	—		600,666	4,184,131	548,801	600,666	4,732,931	5,333,597	562,055	2013	5 - 40
95-115 Liberty Industrial Parkway	McDonough, GA	—		660,420	4,785,127	554,330	660,420	5,339,457	5,999,877	573,447	2013	5 - 40
11150 NW 122nd Street	Medley, FL	—		6,627,899	—	12,312,993	6,627,899	12,312,993	18,940,892	23,539	2015	5 - 40
11401 NW 134th Street	Medley, FL	—	*	5,558,619	17,678,237	1,058,964	5,558,619	18,737,201	24,295,820	1,568,252	2013	5 - 40
11450 NW 122nd Street	Medley, FL	—	*	1,623,293	—	11,424,123	3,919,238	9,128,178	13,047,416	165,377	2015	5 - 40
12501 & 12701 Whitewater Drive	Minnetonka, MN	—		2,175,209	3,948,085	8,784,706	2,177,953	12,730,047	14,908,000	4,418,348	1986	5 - 40
12800 Whitewater Drive	Minnetonka, MN	—		1,273,600	3,158,737	2,172,758	1,273,731	5,331,363	6,605,094	621,422	2011	5 - 40
12900 Whitewater Drive	Minnetonka, MN	—		1,236,560	2,762,325	1,465,285	1,236,687	4,227,483	5,464,170	525,972	2011	5 - 40
456 International Parkway	Minooka, IL	—		3,862,683	14,357,981	4,589,711	3,862,683	18,947,692	22,810,375	1,412,246	2012	5 - 40
3100 SW 145th Avenue	Miramar, FL	—		6,204,407	—	17,244,782	6,265,000	17,184,189	23,449,189	3,082,595	2007	5 - 40
3350 SW 148th Avenue	Miramar, FL	—		2,960,511	—	18,964,847	2,980,689	18,944,669	21,925,358	7,494,426	2000	5 - 40
3400 Lakeside Drive	Miramar, FL	—		2,022,153	11,345,881	2,559,388	2,022,153	13,905,269	15,927,422	6,122,348	1990	5 - 40
3450 Lakeside Drive	Miramar, FL	—		2,022,152	11,357,143	3,368,718	2,022,152	14,725,861	16,748,013	6,870,656	1990	5 - 40
21 S Middlesex Avenue	Monroe Township, NJ	—	*	2,097,170	9,715,401	561,745	2,097,170	10,277,146	12,374,316	900,093	2013	5 - 40
4 S Middlesex Avenue	Monroe Township, NJ	—	*	2,263,153	10,261,759	599,026	2,263,153	10,860,785	13,123,938	863,362	2013	5 - 40
22750 Cactus Avenue	Moreno Valley, CA	—		9,404,283	24,380,934	1,851,865	9,408,276	26,228,806	35,637,082	1,145,548	2014	5 - 40
323 Park Knoll Drive	Morrisville, NC	2,448,428		1,071,600	4,397,807	1,029,987	1,071,600	5,427,794	6,499,394	1,121,720	2010	5 - 40
324 Park Knoll Drive	Morrisville, NC	—	*	1,449,092	4,424,932	330,260	1,449,450	4,754,834	6,204,284	1,135,785	2007	5 - 40
619 Distribution Drive	Morrisville, NC	—	*	1,031,430	5,655,167	748,771	1,031,685	6,403,683	7,435,368	1,349,024	2007	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost			Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)	Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
627 Distribution Drive	Morrisville, NC	—	*	1,061,370	5,152,110	596,652	1,061,632	5,748,500	6,810,132	1,475,427	2007	5 - 40
701 Distribution Drive	Morrisville, NC	—	*	1,300,889	5,313,226	208,184	1,301,211	5,521,088	6,822,299	1,261,597	2007	5 - 40
220 Lake Drive	Newark, DE	—		566,650	6,099,337	972,543	566,650	7,071,880	7,638,530	559,650	2013	5 - 40
222 Lake Drive	Newark, DE	—		1,045,238	1,975,553	149,013	1,045,238	2,124,565	3,169,803	214,673	2013	5 - 40
10020 South Reinhart Drive	Oak Creek, WI	—		1,516,764	—	7,938,332	1,516,764	7,938,332	9,455,096	17,072	2014	5 - 40
1879 Lamont Avenue	Odenton, MD	—	*	1,976,000	8,099,579	1,972,730	2,011,030	10,037,279	12,048,309	2,981,242	2004	5 - 40
350 Winmeyer Avenue	Odenton, MD	—		1,778,400	7,289,165	2,081,514	1,809,927	9,339,152	11,149,079	2,793,143	2004	5 - 40
4000 E Airport Drive	Ontario, CA	—		2,686,533	10,125,772	423,090	2,686,533	10,548,862	13,235,395	796,449	2013	5 - 40
1000 Gills Drive	Orlando, FL	—		415,906	—	2,826,589	435,400	2,807,095	3,242,495	595,975	2006	5 - 40
10003 Satellite Boulevard	Orlando, FL	—		680,312	2,120,754	1,371,463	680,312	3,492,217	4,172,529	1,277,241	2003	5 - 40
10511 & 10611 Satellite Boulevard	Orlando, FL	—		517,554	2,568,186	697,018	522,991	3,259,767	3,782,758	1,498,163	1985	5 - 40
10771 Palm Bay Drive	Orlando, FL	—		664,605	—	2,515,652	685,383	2,494,874	3,180,257	835,590	2001	5 - 40
1090 Gills Drive	Orlando, FL	—		878,320	2,558,833	1,443,203	878,320	4,002,036	4,880,356	1,246,297	2003	5 - 40
1400-1440 Central Florida Parkway	Orlando, FL	—		518,043	2,561,938	966,144	518,043	3,528,082	4,046,125	1,641,797	1962	5 - 40
1902 Cypress Lake Drive	Orlando, FL	—		523,512	3,191,790	1,522,627	538,512	4,699,417	5,237,929	2,094,870	1989	5 - 40
2000 Park Oaks Avenue	Orlando, FL	—	*	913,201	6,818,610	992,966	913,201	7,811,576	8,724,777	588,768	2013	5 - 40
2202 Taft-Vineland Road	Orlando, FL	—		1,283,713	—	7,315,061	1,283,713	7,315,061	8,598,774	2,716,515	2004	5 - 40
2212 Taft Vineland Road	Orlando, FL	—		467,296	—	2,856,683	825,673	2,498,306	3,323,979	765,398	2005	5 - 40
2256 Taft-Vineland Road	Orlando, FL	—		2,261,924	7,496,249	2,671,463	2,271,785	10,157,851	12,429,636	3,185,561	2004	5 - 40
2351 Investors Row	Orlando, FL	—		385,964	—	3,218,244	642,427	2,961,781	3,604,208	1,182,199	2001	5 - 40
2400 South Lake Orange Drive	Orlando, FL	—		1,236,819	3,243,314	4,443,586	1,244,667	7,679,052	8,923,719	539,257	2012	5 - 40
2412 Sand Lake Road	Orlando, FL	—		535,964	—	3,830,045	704,800	3,661,209	4,366,009	1,304,742	2002	5 - 40
2416 Lake Orange Drive	Orlando, FL	—		1,435,301	6,174,642	738,697	1,435,301	6,913,339	8,348,640	1,847,017	2006	5 - 40
6200 Lee Vista Boulevard	Orlando, FL	—		903,701	—	5,673,010	925,671	5,651,040	6,576,711	2,030,995	2001	5 - 40
6501 Lee Vista Boulevard	Orlando, FL	—		872,550	2,526,043	342,626	872,550	2,868,669	3,741,219	210,997	2012	5 - 40
6918 Presidents Drive	Orlando, FL	—		903,701	—	3,792,659	830,953	3,865,407	4,696,360	1,131,855	2006	5 - 40
6923 Lee Vista Boulevard	Orlando, FL	—		1,443,510	6,775,194	557,740	1,457,286	7,319,159	8,776,445	1,760,890	2006	5 - 40
7022 TPC Drive	Orlando, FL	—		1,431,489	8,002,539	774,940	1,445,807	8,763,161	10,208,968	2,132,308	2006	5 - 40
7100 TPC Drive	Orlando, FL	—		1,553,537	5,702,243	442,791	1,570,863	6,127,708	7,698,571	1,462,499	2006	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
			Initial Cost				Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)	Land	Building	Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
7101 TPC Drive	Orlando, FL	—	1,931,697	6,388,203	2,056,346		1,932,004	8,444,242	10,376,246	3,444,586	2004	5 - 40
7315 Kingspointe Parkway	Orlando, FL	—	332,992	—	2,818,589		373,500	2,778,081	3,151,581	593,811	2010	5 - 40
851 Gills Drive	Orlando, FL	—	443,989	—	2,909,996		464,800	2,889,185	3,353,985	596,409	2006	5 - 40
950 Gills Drive	Orlando, FL	—	574,831	—	2,771,357		587,319	2,758,869	3,346,188	1,325,625	1999	5 - 40
9550 Satellite Boulevard	Orlando, FL	—	252,850	1,297,923	157,434		252,850	1,455,357	1,708,207	624,691	1989	5 - 40
9600 Satellite Boulevard	Orlando, FL	—	405,362	1,146,546	368,173		405,362	1,514,719	1,920,081	659,038	1989	5 - 40
9700 Satellite Boulevard	Orlando, FL	—	838,853	—	4,084,540		767,953	4,155,440	4,923,393	1,181,997	2006	5 - 40
1 Crescent Drive	Philadelphia, PA	—	567,280	—	14,598,919		347,892	14,818,307	15,166,199	3,660,239	2004	5 - 40
150 Rouse Boulevard	Philadelphia, PA	—	567,531	—	14,015,611		569,349	14,013,793	14,583,142	1,346,628	2011	5 - 40
201 Rouse Boulevard	Philadelphia, PA	—	243,905	—	22,517,921		449,013	22,312,813	22,761,826	660,907	2015	5 - 40
3 Crescent Drive	Philadelphia, PA	—	214,726	—	23,121,914		417,823	22,918,817	23,336,640	3,843,788	2008	5 - 40
4000 S 26th Street	Philadelphia, PA	—	1,255,507	—	10,095,284		1,142,358	10,208,433	11,350,791	53,311	2015	5 - 40
4020 S 26th Street	Philadelphia, PA	—	51,784	—	7,097,969		616,467	6,533,286	7,149,753	632,559	2011	5 - 40
4050 S 26th Street	Philadelphia, PA	—	46,301	—	7,153,008		616,670	6,582,639	7,199,309	781,536	2011	5 - 40
4300 South 26th Street	Philadelphia, PA	—	402,673	—	34,847,713		413,030	34,837,356	35,250,386	5,702,066	2008	5 - 40
4751 League Island Boulevard	Philadelphia, PA	—	992,965	331,924	7,672,123		613,248	8,383,764	8,997,012	2,603,181	2003	5 - 40
4775 League Island Boulevard	Philadelphia, PA	—	891,892	—	5,534,823		366,982	6,059,733	6,426,715	1,302,303	2006	5 - 40
5 Crescent Drive	Philadelphia, PA	—	1,765,341	—	75,115,021		1,897,303	74,983,059	76,880,362	6,019,701	2011	5 - 40
8th & Walnut Streets	Philadelphia, PA	41,599,979	734,275	—	45,346,171		—	46,080,446	46,080,446	2,419,961	2011	5 - 40
2626 South 7th Street	Phoenix, AZ	—	2,519,510	3,798,560	3,444,481		2,519,510	7,243,041	9,762,551	951,813	2012	5 - 40
4207 E. Cotton Center Boulevard	Phoenix, AZ	—	1,409,908	4,680,808	1,100,202		1,410,248	5,780,670	7,190,918	1,774,118	2007	5 - 40
4217 E. Cotton Center Boulevard	Phoenix, AZ	—	6,920,980	10,045,599	3,757,067		6,690,321	14,033,325	20,723,646	3,965,448	2007	5 - 40
4303 E. Cotton Center Boulevard	Phoenix, AZ	—	2,619,964	9,675,711	43,651		2,619,964	9,719,362	12,339,326	2,385,757	2007	5 - 40
4313 E. Cotton Center Boulevard	Phoenix, AZ	—	3,895,539	16,724,283	1,602,958		3,895,539	18,327,241	22,222,780	4,940,890	2007	5 - 40
4405 E. Cotton Center Boulevard	Phoenix, AZ	—	2,646,318	9,697,439	841,102		2,646,318	10,538,541	13,184,859	2,572,185	2007	5 - 40
4410 E. Cotton Center Boulevard	Phoenix, AZ	—	4,758,484	10,559,563	3,725,648		4,765,172	14,278,523	19,043,695	2,717,243	2007	5 - 40
4415 E. Cotton Center Boulevard	Phoenix, AZ	—	1,749,957	3,667,748	465,844		1,749,957	4,133,592	5,883,549	1,165,695	2007	5 - 40
4425 E. Cotton Center Boulevard	Phoenix, AZ	—	7,318,457	24,549,401	(413,426	)	7,318,457	24,135,975	31,454,432	5,237,323	2007	5 - 40
4435 E. Cotton Center Boulevard	Phoenix, AZ	—	1,910,584	1,954,020	2,166,648		1,911,045	4,120,208	6,031,253	1,406,218	2007	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost			Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)	Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
4550 South 44th Street	Phoenix, AZ	—		5,380,972	—	9,257,593	6,391,283	8,247,282	14,638,565	2,761,963	2007	5 - 40
4610 South 44th Street	Phoenix, AZ	—		6,539,310	—	10,331,533	6,827,288	10,043,555	16,870,843	2,491,474	2007	5 - 40
4750 South 44th Place	Phoenix, AZ	—		3,756,307	8,336,400	6,213,419	3,761,587	14,544,539	18,306,126	2,376,591	2007	5 - 40
563 South 63rd Avenue	Phoenix, AZ	—		5,523,427	14,581,705	12,185,794	5,636,070	26,654,856	32,290,926	1,513,535	2013	5 - 40
9801 South 51st Street	Phoenix, AZ	—		2,225,839	2,059,235	1,437,937	2,225,839	3,497,172	5,723,011	765,726	2012	5 - 40
Cotton Center Building 18	Phoenix, AZ	—		11,222,938	—	15,263,279	11,318,033	15,168,184	26,486,217	1,379,031	2012	5 - 40
1000 Klein Road	Plano, TX	—		706,660	5,894,330	262,438	706,660	6,156,769	6,863,429	460,973	2013	5 - 40
1901 10th Street	Plano, TX	—	*	555,168	6,401,789	483,119	555,168	6,884,908	7,440,076	558,551	2013	5 - 40
1909 10th Street	Plano, TX	—	*	551,706	5,797,440	259,234	551,706	6,056,674	6,608,380	466,496	2013	5 - 40
3605 East Plano Parkway	Plano, TX	—		1,047,996	9,218,748	1,969,523	1,047,996	11,188,270	12,236,266	788,053	2013	5 - 40
3701 East Plano Parkway	Plano, TX	—		877,564	7,460,686	482,797	877,564	7,943,482	8,821,046	606,978	2013	5 - 40
800 Klein Road	Plano, TX	—		580,456	5,681,283	288,436	580,456	5,969,719	6,550,175	468,457	2013	5 - 40
900 Klein Road	Plano, TX	—		723,534	6,004,923	351,565	723,534	6,356,488	7,080,022	521,078	2013	5 - 40
9801 80th Avenue	Pleasant Prairie, WI	—		1,692,077	7,934,794	337,903	1,689,726	8,275,048	9,964,774	3,661,095	1994	5 - 40
14630-14650 28th Avenue North	Plymouth, MN	—		198,205	1,793,422	1,096,872	198,205	2,890,293	3,088,498	1,271,956	1978	5 - 40
2920 Northwest Boulevard	Plymouth, MN	—		392,026	3,433,678	695,245	384,235	4,136,714	4,520,949	1,801,271	1997	5 - 40
5905 Trenton Lane North	Plymouth, MN	—		1,616,360	4,487,462	685,534	1,616,360	5,172,995	6,789,355	439,194	2013	5 - 40
6055 Nathan Lane North	Plymouth, MN	—	*	1,327,017	4,527,404	535,693	1,327,017	5,063,097	6,390,114	436,332	2013	5 - 40
1400 SW 6th Court	Pompano Beach, FL	—		1,157,049	4,620,956	1,339,780	1,157,049	5,960,736	7,117,785	2,562,539	1986	5 - 40
1405 SW 6th Court	Pompano Beach, FL	—		392,138	1,565,787	456,063	392,138	2,021,851	2,413,989	986,732	1985	5 - 40
1500 SW 5th Court	Pompano Beach, FL	—		972,232	3,892,085	672,190	972,232	4,564,275	5,536,507	2,066,582	1957	5 - 40
1501 SW 5th Court	Pompano Beach, FL	—		203,247	811,093	368,976	203,247	1,180,070	1,383,317	508,390	1990	5 - 40
1601 SW 5th Court	Pompano Beach, FL	—		203,247	811,093	203,999	203,247	1,015,093	1,218,340	412,794	1990	5 - 40
1651 SW 5th Court	Pompano Beach, FL	—		203,247	811,093	183,052	203,247	994,146	1,197,393	446,593	1990	5 - 40
2201-2215 NW 30th Place	Pompano Beach, FL	—		1,120,328	3,427,358	104,786	1,120,328	3,532,144	4,652,472	266,519	2013	5 - 40
2250-2270 NW 30th Place	Pompano Beach, FL	—		993,015	2,423,174	124,260	993,015	2,547,434	3,540,449	197,204	2013	5 - 40
2280-2300 NW 30th Place	Pompano Beach, FL	—		906,947	2,157,802	178,320	906,947	2,336,123	3,243,070	195,738	2013	5 - 40
2301-2329 NW 30th Place	Pompano Beach, FL	—		1,268,707	3,079,811	139,490	1,268,707	3,219,301	4,488,008	253,100	2013	5 - 40
3000 NW 25th Avenue	Pompano Beach, FL	—		1,087,554	2,897,117	155,019	1,087,554	3,052,136	4,139,690	261,226	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
			Initial Cost			Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)	Land	Building	Costs Capitalized Subsequent to Acquisition (2)	Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
3001-3037 NW 25th Avenue	Pompano Beach, FL	—	1,548,542	3,512,041	307,187	1,548,542	3,819,229	5,367,771	336,889	2013	5 - 40
3012-3050 NW 25th Avenue	Pompano Beach, FL	—	1,112,781	2,763,862	227,204	1,112,781	2,991,065	4,103,846	250,248	2013	5 - 40
595 SW 13th Terrace	Pompano Beach, FL	—	359,933	1,437,116	720,249	359,933	2,157,365	2,517,298	1,093,532	1984	5 - 40
601 SW 13th Terrace	Pompano Beach, FL	—	164,413	655,933	279,326	164,413	935,259	1,099,672	491,681	1984	5 - 40
605 SW 16th Terrace	Pompano Beach, FL	—	310,778	1,238,324	464,630	310,178	1,703,554	2,013,732	749,705	1965	5 - 40
1920 West Baseline Road	Rialto, CA	—	9,361,943	17,970,709	163,942	9,413,260	18,083,334	27,496,594	511,799	2014	5-40
301 Hill Carter Parkway	Richmond, VA	—	659,456	4,836,010	159,898	659,456	4,995,908	5,655,364	2,631,531	1989	5 - 40
4101-4127 Carolina Avenue	Richmond, VA	—	310,854	2,279,597	1,750,271	310,854	4,029,868	4,340,722	1,611,732	1973	5 - 40
4201-4261 Carolina Avenue	Richmond, VA	—	693,203	5,083,493	2,041,659	693,203	7,125,152	7,818,355	3,754,522	1975	5 - 40
4263-4299 Carolina Avenue	Richmond, VA	—	256,203	2,549,649	2,328,283	256,203	4,877,932	5,134,135	2,381,870	1976	5 - 40
4263F-N. Carolina Avenue	Richmond, VA	—	91,476	—	1,897,787	91,599	1,897,664	1,989,263	940,945	1975	5 - 40
4301-4335 Carolina Avenue	Richmond, VA	—	223,696	1,640,435	2,930,093	223,696	4,570,528	4,794,224	1,818,348	1978	5 - 40
4337-4379 Carolina Avenue	Richmond, VA	—	325,303	2,385,557	1,438,114	325,303	3,823,671	4,148,974	2,099,998	1979	5 - 40
4401-4445 Carolina Avenue	Richmond, VA	—	615,038	4,510,272	484,686	615,038	4,994,958	5,609,996	2,615,139	1988	5 - 40
4447-4491 Carolina Avenue	Richmond, VA	—	454,056	2,729,742	514,146	454,056	3,243,888	3,697,944	1,762,300	1987	5 - 40
4501-4549 Carolina Avenue	Richmond, VA	—	486,166	3,565,211	576,623	486,166	4,141,834	4,628,000	2,148,739	1981	5 - 40
4551-4593 Carolina Avenue	Richmond, VA	—	474,360	3,478,646	1,007,798	474,360	4,486,444	4,960,804	2,462,073	1982	5 - 40
4601-4643 Carolina Avenue	Richmond, VA	—	652,455	4,784,675	837,239	652,455	5,621,914	6,274,369	3,133,828	1985	5 - 40
4645-4683 Carolina Avenue	Richmond, VA	—	404,616	2,967,187	575,220	404,616	3,542,407	3,947,023	1,855,985	1985	5 - 40
4717-4729 Eubank Road	Richmond, VA	—	449,447	3,294,697	2,230,770	452,263	5,522,651	5,974,914	2,752,400	1978	5 - 40
510 Eastpark Court	Richmond, VA	—	261,961	2,110,874	384,025	262,210	2,494,650	2,756,860	1,281,975	1989	5 - 40
520 Eastpark Court	Richmond, VA	—	486,118	4,083,582	703,776	486,598	4,786,878	5,273,476	2,206,063	1989	5 - 40
530 Eastpark Court	Richmond, VA	—	266,883	—	2,613,277	334,772	2,545,388	2,880,160	1,175,333	1999	5 - 40
540 Eastpark Court	Richmond, VA	—	742,300	—	5,428,026	1,066,839	5,103,487	6,170,326	1,030,277	2007	5 - 40
5600-5626 Eastport Boulevard	Richmond, VA	—	489,941	3,592,900	622,829	489,941	4,215,729	4,705,670	2,060,587	1989	5 - 40
5601-5659 Eastport Boulevard	Richmond, VA	—	705,660	—	4,829,611	720,100	4,815,171	5,535,271	2,429,460	1996	5 - 40
5650-5674 Eastport Boulevard	Richmond, VA	—	644,384	4,025,480	353,257	644,384	4,378,737	5,023,121	2,313,416	1990	5 - 40
5700 Eastport Boulevard	Richmond, VA	—	408,729	2,697,348	898,269	408,729	3,595,617	4,004,346	2,030,477	1990	5 - 40
5701-5799 Eastport Boulevard	Richmond, VA	—	694,644	—	5,983,122	700,503	5,977,263	6,677,766	2,512,221	1998	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost			Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land	Building	Costs Capitalized Subsequent to Acquisition (2)	Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
5900 Eastport Boulevard	Richmond, VA	—		676,661	—	4,992,422	687,898	4,981,185	5,669,083	2,484,030	1997	5 - 40
6000 Eastport Boulevard	Richmond, VA	—		872,901	—	7,490,092	901,666	7,461,327	8,362,993	1,463,596	1997	5 - 40
2020 US Highway 301 South	Riverview, FL	—		1,233,639	13,608,485	341,435	1,233,800	13,949,759	15,183,559	3,464,544	2006	5 - 40
6530 Judge Adams Road	Rock Creek, NC	—		305,821	—	4,966,941	335,061	4,937,701	5,272,762	2,134,859	1999	5 - 40
6532 Judge Adams Road	Rock Creek, NC	—		354,903	—	4,017,772	399,988	3,972,687	4,372,675	1,878,277	1997	5 - 40
13098 George Weber Drive	Rogers, MN	—		895,811	6,004,189	321,135	895,811	6,325,324	7,221,135	765,554	2011	5 - 40
13220 Wilfred Lane	Rogers, MN	—		508,532	—	11,072,977	1,396,324	10,185,185	11,581,509	565,894	2014	5 - 40
13225 Brockton Lane	Rogers, MN	—		1,048,093	—	10,464,170	1,066,159	10,446,104	11,512,263	475,964	2014	5 - 40
1070 Windham Parkway	Romeoville, IL	—		8,672,143	24,144,864	1,238,550	8,672,143	25,383,414	34,055,557	1,952,909	2012	5 - 40
1550 Central Avenue	Roselle, IL	—	*	2,884,492	10,439,793	485,780	2,884,492	10,925,573	13,810,065	937,836	2013	5 - 40
1135 Aviation Place	San Fernando, CA	—		3,035,034	2,844,962	460,618	3,035,034	3,305,580	6,340,614	264,515	2013	5 - 40
8715 Bollman Place	Savage, MD	—		1,263,237	2,633,210	177,768	1,263,237	2,810,978	4,074,215	202,652	2013	5 - 40
8501 East Raintree Drive	Scottsdale, AZ	—		4,076,412	—	27,621,159	4,115,137	27,582,434	31,697,571	8,723,831	2005	5 - 40
1150 Gateway Drive	Shakopee, MN	—		1,126,865	5,684,178	1,603	1,126,865	5,685,781	6,812,646	476,739	2012	5 - 40
5555 12th Avenue East	Shakopee, MN	—		887,285	5,321,200	207,768	887,285	5,528,968	6,416,253	535,233	2012	5 - 40
5651 Innovation Boulevard	Shakopee, MN	—		1,551,579	9,541,234	543,939	1,552,083	10,084,669	11,636,752	32,531	2015	5 - 40
1210 Champion Way	Sharonville, OH	—		1,337,271	6,135,118	859,329	1,337,271	6,994,448	8,331,719	890,723	2013	5 - 40
9300 Olde Scotland Road	Shippensburg, PA	—		10,232,633	—	84,544,640	13,183,027	81,594,246	94,777,273	3,544,754	2014	5 - 40
3990 Heritage Oak Court	Simi Valley, CA	—		1,964,140	10,667,267	332,505	1,964,140	10,999,772	12,963,912	763,594	2013	5 - 40
3654-3668 Swenson Avenue	St. Charles, IL	—		643,639	1,645,058	149,732	643,639	1,794,790	2,438,429	166,249	2013	5 - 40
3701 Illinois Avenue	St. Charles, IL	—		672,500	1,288,924	118,858	672,500	1,407,782	2,080,282	143,293	2013	5 - 40
3950-3980 Swenson Avenue	St. Charles, IL	—		851,080	3,027,753	150,664	851,080	3,178,417	4,029,497	263,862	2013	5 - 40
1501 102nd Avenue North	St. Petersburg, FL	—	*	283,474	2,230,868	165,205	283,474	2,396,072	2,679,546	183,883	2013	5 - 40
1527 102nd Avenue North	St. Petersburg, FL	—	*	374,284	2,987,226	220,944	374,284	3,208,170	3,582,454	244,340	2013	5 - 40
1551 102nd Avenue North	St. Petersburg, FL	—	*	699,797	5,214,438	990,605	699,797	6,205,043	6,904,840	442,736	2013	5 - 40
6900 Harbour View Boulevard	Suffolk, VA	—		904,052	—	8,853,721	807,006	8,950,767	9,757,773	2,275,228	2006	5 - 40
6920 Harbour View Boulevard	Suffolk, VA	—		603,391	—	6,711,340	2,628,635	4,686,096	7,314,731	547,431	2005	5 - 40
6950 Harbour View Boulevard	Suffolk, VA	—		929,844	—	6,553,719	794,848	6,688,715	7,483,563	1,762,445	2004	5 - 40
1516 Fryar Avenue	Sumner, WA	—		1,675,402	5,079,543	765,470	1,675,402	5,845,013	7,520,415	532,350	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
			Initial Cost			Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)	Land	Building	Costs Capitalized Subsequent to Acquisition (2)	Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1301 International Parkway	Sunrise, FL	—	5,100,162	24,219,956	7,580,353	5,100,791	31,799,680	36,900,471	7,145,549	2006	5 - 40
13621 NW 12th Street	Sunrise, FL	—	5,570,820	9,454,900	1,331,324	5,570,820	10,786,224	16,357,044	2,276,212	2008	5 - 40
13630 NW 8th Street	Sunrise, FL	—	659,797	2,596,275	464,995	659,825	3,061,241	3,721,066	1,307,680	1991	5 - 40
13650 NW 8th Street	Sunrise, FL	—	558,223	2,171,930	321,767	558,251	2,493,669	3,051,920	1,086,409	1991	5 - 40
111 Kelsey Lane	Tampa, FL	—	359,540	1,461,850	1,583,476	359,540	3,045,326	3,404,866	1,284,683	1990	5 - 40
131 Kelsey Lane	Tampa, FL	—	511,463	—	4,437,886	559,527	4,389,822	4,949,349	2,609,860	1985	5 - 40
150-182 Kelsey Lane	Tampa, FL	—	403,541	—	5,260,899	1,181,609	4,482,831	5,664,440	1,071,959	2006	5 - 40
200-34 Kelsey Lane	Tampa, FL	—	330,097	—	3,415,797	933,362	2,812,532	3,745,894	717,312	2005	5 - 40
3102,3104,3110 Cherry Palm Drive	Tampa, FL	—	503,767	2,787,585	1,359,333	503,767	4,146,918	4,650,685	2,152,879	1986	5 - 40
3401-3409 Cragmont Drive	Tampa, FL	—	556,952	3,849,236	4,060	556,952	3,853,296	4,410,248	301,930	2012	5 - 40
3502 Roga Boulevard	Tampa, FL	—	201,600	1,263,131	50,142	201,600	1,313,273	1,514,873	110,882	2012	5 - 40
3505 Cragmont Drive	Tampa, FL	—	936,336	7,155,520	1,313	936,336	7,156,833	8,093,169	614,184	2012	5 - 40
3608 Queen Palm Drive	Tampa, FL	—	650,384	4,764,301	158,654	650,384	4,922,955	5,573,339	387,097	2012	5 - 40
4502 Woodland Corporate Boulevard	Tampa, FL	—	1,035,422	—	3,207,575	1,071,535	3,171,462	4,242,997	1,226,680	1999	5 - 40
4503 Woodland Corporate Boulevard	Tampa, FL	—	619,913	—	2,983,337	619,913	2,983,337	3,603,250	994,644	2002	5 - 40
4505 Woodland Corporate Boulevard	Tampa, FL	—	516,594	—	2,443,438	716,594	2,243,438	2,960,032	938,891	2002	5 - 40
4508 Woodland Corporate Boulevard	Tampa, FL	—	498,598	—	3,443,706	556,887	3,385,417	3,942,304	1,326,867	2000	5 - 40
4511 Woodland Corporate Boulevard	Tampa, FL	—	516,594	—	2,311,508	686,594	2,141,508	2,828,102	793,887	2002	5 - 40
4520 Seedling Circle	Tampa, FL	—	854,797	42,131	2,773,264	854,797	2,815,395	3,670,192	821,024	2003	5 - 40
4630 Woodland Corporate Boulevard	Tampa, FL	—	943,169	—	13,996,216	1,560,099	13,379,286	14,939,385	5,534,518	2000	5 - 40
4631 Woodland Corporate Boulevard	Tampa, FL	—	1,453,367	—	13,936,144	1,908,792	13,480,719	15,389,511	2,472,756	2006	5 - 40
501 US Highway 301 South	Tampa, FL	—	898,884	—	3,671,449	900,508	3,669,825	4,570,333	1,174,725	2004	5 - 40
5250 Eagle Trail Drive	Tampa, FL	—	952,860	—	3,661,376	952,860	3,661,376	4,614,236	1,509,247	1998	5 - 40
5501-5519 Pioneer Park Boulevard	Tampa, FL	—	162,000	1,613,000	1,009,365	262,416	2,521,949	2,784,365	1,304,741	1981	5 - 40
5690-5694 Crenshaw Street	Tampa, FL	—	181,923	1,812,496	1,023,370	181,923	2,835,866	3,017,789	1,214,632	1979	5 - 40
701-725 South US Highway 301	Tampa, FL	—	419,683	—	3,932,756	661,680	3,690,759	4,352,439	1,561,830	2000	5 - 40
7621 Bald Cypress Place (Building N)	Tampa, FL	—	716,580	132,773	607,287	447,498	1,009,142	1,456,640	320,478	2001	5 - 40
7724 Woodland Center Boulevard	Tampa, FL	—	235,893	—	2,247,071	235,894	2,247,070	2,482,964	915,541	1998	5 - 40
7725 Woodland Center Boulevard	Tampa, FL	—	553,335	—	3,723,937	771,501	3,505,771	4,277,272	1,390,660	1999	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
			Initial Cost			Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)	Land	Building	Costs Capitalized Subsequent to Acquisition (2)	Land and Improvements	Building and Improvements	Total 12/31/2015	Accumulated Depreciation 12/31/2015	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
7802-50 Woodland Center Boulevard	Tampa, FL	—	357,364	—	3,073,105	506,949	2,923,520	3,430,469	1,258,756	1999	5 - 40
7851-7861 Woodland Center Boulevard	Tampa, FL	—	548,905	2,241,627	291,845	548,905	2,533,472	3,082,377	690,662	2006	5 - 40
7852-98 Woodland Center Boulevard	Tampa, FL	—	357,364	—	2,996,000	506,949	2,846,415	3,353,364	1,054,718	1999	5 - 40
7920 Woodland Center Boulevard	Tampa, FL	—	1,082,648	2,445,444	434,554	1,082,648	2,879,998	3,962,646	1,218,548	1997	5 - 40
7930, 8010-20 Woodland Center Boulevard	Tampa, FL	—	1,408,478	5,247,246	1,163,832	1,408,478	6,411,078	7,819,556	3,047,605	1990	5 - 40
8001 Woodland Center Boulevard	Tampa, FL	—	350,406	—	2,455,064	438,061	2,367,409	2,805,470	929,186	1999	5 - 40
8110 Anderson Road	Tampa, FL	—	912,663	5,425,143	262,407	912,663	5,687,550	6,600,213	500,247	2012	5 - 40
8112-42 Woodland Center Boulevard	Tampa, FL	—	513,263	3,230,239	649,274	513,263	3,879,513	4,392,776	2,039,535	1995	5 - 40
8130 Anderson Road	Tampa, FL	—	655,668	4,132,076	166,431	655,668	4,298,507	4,954,175	402,947	2012	5 - 40
8154-8198 Woodland Center Boulevard	Tampa, FL	—	399,088	2,868,834	911,848	399,088	3,780,682	4,179,770	1,790,357	1988	5 - 40
8212 Woodland Center Boulevard	Tampa, FL	—	820,882	2,322,720	488,717	820,882	2,811,437	3,632,319	1,140,983	1996	5 - 40
8401-8408 Benjamin Road	Tampa, FL	—	789,651	4,454,648	575,767	611,626	5,208,440	5,820,066	2,766,355	1986	5 - 40
8705 Henderson Road	Tampa, FL	—	4,303,870	23,688,409	779,800	4,304,102	24,467,978	28,772,080	6,695,647	2006	5 - 40
8715 Henderson Road	Tampa, FL	—	3,343,910	18,325,599	514,389	3,344,090	18,839,808	22,183,898	6,024,552	2006	5 - 40
8725 Henderson Road	Tampa, FL	—	3,167,787	19,126,318	1,003,930	3,167,958	20,130,077	23,298,035	6,006,145	2006	5 - 40
8735 Henderson Road	Tampa, FL	—	3,166,130	18,735,573	1,292,137	3,166,300	20,027,540	23,193,840	6,018,888	2006	5 - 40
8745 Henderson Road	Tampa, FL	—	2,050,439	11,173,008	505,869	2,050,548	11,678,768	13,729,316	2,644,718	2006	5 - 40
8900-34 Brittany Way	Tampa, FL	—	537,194	—	3,957,804	978,019	3,516,979	4,494,998	1,088,123	2005	5 - 40
9001-9015 Brittany Way	Tampa, FL	—	209,841	—	1,811,678	364,514	1,657,005	2,021,519	818,366	2000	5 - 40
9002-9036 Brittany Way	Tampa, FL	—	492,320	—	3,366,767	899,284	2,959,803	3,859,087	909,870	2004	5 - 40
901-933 US Highway 301 South	Tampa, FL	—	500,391	—	4,254,173	840,314	3,914,250	4,754,564	1,821,995	2001	5 - 40
9020 King Palm Drive	Tampa, FL	—	1,718,496	11,697,381	912,448	1,718,496	12,609,829	14,328,325	981,612	2012	5 - 40
9110 King Palm Drive	Tampa, FL	—	1,203,200	7,979,540	99,916	1,203,200	8,079,456	9,282,656	693,067	2012	5 - 40
9203 King Palm Drive	Tampa, FL	—	754,832	4,966,864	92,249	754,832	5,059,113	5,813,945	577,865	2012	5 - 40
9306-24 East Broadway Avenue	Tampa, FL	—	450,440	—	3,303,369	486,004	3,267,805	3,753,809	651,502	2007	5 - 40
9319 Peach Palm Drive	Tampa, FL	—	612,536	4,168,473	9,700	612,536	4,178,173	4,790,709	334,320	2012	5 - 40
9704 Solar Drive	Tampa, FL	—	374,548	1,354,800	140,998	374,548	1,495,798	1,870,346	125,032	2012	5 - 40
9945 Currie Davis Drive	Tampa, FL	—	1,134,286	9,241,807	380,833	1,134,286	9,622,639	10,756,925	732,977	2013	5 - 40
1720 W. Rio Salado Parkway	Tempe, AZ	—	2,629,020	—	15,771,140	2,629,020	15,771,140	18,400,160	93,842	2015	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
					Initial Cost						Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)			Land		Building		Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements		Building and Improvements		Total 12/31/2015		Accumulated Depreciation 12/31/2015		Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1850 W. Rio Salado Parkway	Tempe, AZ	—			3,975,600		—		23,047,658		3,975,600		23,047,658		27,023,258		204,220		2015	5 - 40
1858 E Encanto Drive	Tempe, AZ	—		*	877,611		4,485,427		256,266		877,611		4,741,693		5,619,304		385,935		2013	5 - 40
475 W Vaughn Street	Tempe, AZ	—			1,112,245		2,260,348		134,556		1,112,245		2,394,904		3,507,149		226,546		2013	5 - 40
921 South Park Lane	Tempe, AZ	—			1,192,820		1,580,155		481,037		1,192,820		2,061,193		3,254,013		300,746		2011	5 - 40
8313 West Pierce Street	Tolleson, AZ	—			2,295,090		9,079,811		3,240,140		2,295,090		12,319,951		14,615,041		3,521,569		2007	5 - 40
8591 West Washington Street	Tolleson, AZ	—			1,574,912		7,308,021		277,291		1,574,912		7,585,312		9,160,224		768,598		2012	5 - 40
8601 West Washington Street	Tolleson, AZ	—			1,524,603		6,352,070		919,846		1,524,603		7,271,916		8,796,519		885,845		2012	5 - 40
5111 S Royal Atlanta Drive	Tucker, GA	—		*	435,776		1,875,685		372,752		435,776		2,248,438		2,684,214		235,227		2013	5 - 40
5151 S Royal Atlanta Drive	Tucker, GA	—		*	345,061		1,428,840		203,538		345,061		1,632,378		1,977,439		192,918		2013	5 - 40
1100 17th Street NW	Washington, DC	—			16,558,660		32,223,978		1,469,287		16,558,660		33,693,265		50,251,925		5,441,896		2011	5 - 40
2100 M Street NW	Washington, DC	—			70,000,000		55,123,783		128,506		70,000,000		55,252,289		125,252,289		5,781,074		2013	5 - 40
1200 Liberty Ridge Drive	Wayne, PA	—			6,215,667		—		8,912,626		5,223,660		9,904,633		15,128,293		4,241,802		2001	5 - 40
1500 Liberty Ridge Drive	Wayne, PA	—			8,287,555		—		32,326,215		11,636,499		28,977,271		40,613,770		10,604,538		2002	5 - 40
825 Duportail Road	Wayne, PA	—			5,536,619		16,179,213		5,014,199		5,539,281		21,190,750		26,730,031		9,267,683		1979	5 - 40
400-500 Brandywine Parkway	West Chester, PA	—			845,846		6,809,025		1,041,424		845,846		7,850,449		8,696,295		3,246,127		1988	5 - 40
600 Brandywine Parkway	West Chester, PA	—			664,899		5,352,410		892,306		664,899		6,244,716		6,909,615		2,927,132		1988	5 - 40
1400 Powis Court	West Chicago, IL	—			578,314		2,448,562		73,377		578,314		2,521,939		3,100,253		178,750		2013	5 - 40
1 Kings Hill Avenue	West Malling, UK	—			4,288,389		—		9,037,845		3,687,334		9,638,900		13,326,234		2,389,026		2006	5 - 40
42 Kings Hill Avenue	West Malling, UK	—			5,397,739		—		11,517,219		4,003,074		12,911,884		16,914,958		2,766,912		2005	5 - 40
Liberty Square, Block 1	West Malling, UK	—			159,232		1,622,551		904,781		301,735		2,384,830		2,686,565		641,950		2006	5 - 40
Liberty Square, Block 2	West Malling, UK	—			199,150		1,614,217		936,652		377,377		2,372,642		2,750,019		615,641		2006	5 - 40
Liberty Square, Block 3	West Malling, UK	—			129,830		1,141,141		652,344		246,020		1,677,295		1,923,315		430,653		2006	5 - 40
Liberty Square, Block 5	West Malling, UK	—			71,377		735,993		409,677		135,255		1,081,792		1,217,047		279,593		2006	5 - 40
1400 Northpoint Parkway	West Palm Beach, FL	—		*	2,454,972		5,312,829		276,502		2,454,972		5,589,331		8,044,303		500,926		2013	5 - 40
300 Northpoint Parkway	West Palm Beach, FL	—		*	1,177,064		2,102,451		136,689		1,177,064		2,239,140		3,416,204		191,870		2013	5 - 40
400 Northpoint Parkway	West Palm Beach, FL	—		*	1,029,595		1,728,187		164,118		1,029,595		1,892,305		2,921,900		164,308		2013	5 - 40
2935 West Corporate Lakes Boulevard	Weston, FL	—		*	4,682,521		25,905,126		558,332		4,682,521		26,463,458		31,145,979		1,739,999		2013	5 - 40
2945 West Corporate Lakes Boulevard	Weston, FL	—		*	2,345,242		13,973,766		273,455		2,345,242		14,247,221		16,592,463		925,347		2013	5 - 40
43-47 Hintz Road	Wheeling, IL	—			2,051,093		18,283,480		537,830		2,051,088		18,821,316		20,872,404		1,304,019		2013	5 - 40
Subtotal Operating Real Estate		$	55,484,649		$	1,114,603,612	$	2,652,302,317	$	2,549,669,062	$	1,184,927,226	$	5,131,647,765	$	6,316,574,991	$	1,148,928,324

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost						Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land		Building		Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements		Building and Improvements		Total 12/31/2015		Accumulated Depreciation 12/31/2015		Date of Construction or Acquisition	Depreciable life (years)
Development Properties
8620 Congdon Hill Drive	Alburtis, PA	—		$	38,328,000	$	—	$	11,489,588	$	—	$	49,817,588	$	49,817,588	$	—	2015	N/A
800 Uline Way	Allentown, PA	—		14,754,000		—		12,639,279		—		27,393,279		27,393,279		—		2015	N/A
700 Uline Way	Allentown, PA	—		26,311,300		—		30,292,697		—		56,603,997		56,603,997		—		2015	N/A
3225 Gravel Springs Road	Buford, GA	—		2,807,020		—		277,833		—		3,084,853		3,084,853		—		2015	N/A
3525 Gravel Springs Road	Buford, GA	—		1,391,065		—		182,177		—		1,573,242		1,573,242		—		2015	N/A
5032 Sirona Drive	Charlotte, NC	—		1,416,763		—		7,275,237		—		8,692,000		8,692,000		—		2015	N/A
11020 Holly Lane	Dayton, MN	—		2,536,731		—		10,926,042		—		13,462,773		13,462,773		—		2014	N/A
333 Howard Avenue	Des Plaines, IL	—		7,928,724		—		11,609,920		—		19,538,644		19,538,644		—		2014	N/A
1951 TW Alexander Drive	Durham, NC	—		1,115,595		—		302,394		—		1,417,989		1,417,989		—		2015	N/A
1953 TW Alexander Drive	Durham, NC	—		2,402,820		—		1,004,841		—		3,407,661		3,407,661		—		2015	N/A
1957 TW Alexander Drive	Durham, NC	—		1,844,943		—		1,467,665		—		3,312,608		3,312,608		—		2015	N/A
120 Caliber Ridge Drive	Greer, SC	—		1,243,100		—		6,568,523		—		7,811,623		7,811,623		—		2014	N/A
130 Caliber Ridge Drive	Greer, SC	—		1,171,160		—		5,065,871		—		6,237,031		6,237,031		—		2014	N/A
4485 Premier Drive	High Point, NC	—		1,827,595		—		368,166		—		2,195,761		2,195,761		—		2015	N/A
10720 West Sam Houston Pkwy N	Houston, TX	—		3,871,875		—		29,893,209		—		33,765,084		33,765,084		—		2014	N/A
5430 FAA Boulevard	Irving, TX	—		2,245,346		—		2,756,907		—		5,002,253		5,002,253		—		2015	N/A
951 Valleyview Lane	Irving, TX	—		3,899,824		—		5,255,183		—		9,155,007		9,155,007		—		2015	N/A
11250 NW 122nd Street	Medley, FL	—		4,798,886		—		9,352,489		—		14,151,375		14,151,375		—		2014	N/A
1050 Constitution Avenue	Philadelphia, PA	—		—		—		1,682,445		—		1,682,445		1,682,445		—		2015	N/A
1200 Intrepid Avenue	Philadelphia, PA	—		404,883		—		17,925,128		—		18,330,011		18,330,011		—		2014	N/A
351 Rouse Boulevard	Philadelphia, PA	—		359,864		—		3,120,713		—		3,480,577		3,480,577		—		2015	N/A
4701 League Island Boulevard	Philadelphia, PA	—		419,107		—		12,090,516		—		12,509,623		12,509,623		—		2014	N/A
5800 Eastport Boulevard	Richmond, VA	—		604,146		—		7,054,435		—		7,658,581		7,658,581		—		2014	N/A
5800 Technology Boulevard	Sandston, VA	—		1,741,867		—		3,319,003		—		5,060,870		5,060,870		—		2015	N/A
1910 W. Rio Salado Parkway	Tempe, AZ	—		4,693,504		—		23,421,674		—		28,115,178		28,115,178		—		2014	N/A
1930 W Rio Salado Parkway	Tempe, AZ	—		4,069,890		—		2,575,094		—		6,644,984		6,644,984		—		2015	N/A
2040 W Rio Salado Parkway	Tempe, AZ	—		3,225,000		—		7,617,711		—		10,842,711		10,842,711		—		2015	N/A
Subtotal Development in Progress		$	—	$	135,413,008	$	—	$	225,534,740	$	—	$	360,947,748	$	360,947,748	$	—

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost							Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land		Building		Costs Capitalized Subsequent to Acquisition (2)			Land and Improvements		Building and Improvements		Total 12/31/2015		Accumulated Depreciation 12/31/2015		Date of Construction or Acquisition	Depreciable life (years)
LAND HELD FOR DEVELOPMENT
4551 New York Avenue Land	Arlington, TX	$	—	$	4,754,659	$	—	$	403,475		$	5,158,133	$	—	$	5,158,133	$	—	2013	N/A
Mill Creek Road Land	Bethlehem, PA	—		17,719,400		—		2,777,765			20,497,165		—		20,497,165		—		2012	N/A
Boca Colannade Yamato Road	Boca Raton, FL	—		2,039,735		—		684,340			2,724,075		—		2,724,075		—		1998	N/A
12912 Virkler Drive Land	Charlotte, NC	—		208,646		—		75,163			283,809		—		283,809		—		2010	N/A
Charlotte Distribution Center Land-Lot 1	Charlotte, NC	—		654,713		—		2,320			657,033		—		657,033		—		2011	N/A
Shopton Ridge Business Park Land	Charlotte, NC	—		642,756		—		359,147			1,001,903		—		1,001,903		—		2014	N/A
Holly Lane North Land	Dayton, MN	—		889,205		—		129,550			1,018,755		—		1,018,755		—		2014	N/A
French Lake Land	Dayton/Rogers, MN	—		13,513,632		—		1,253,172			14,766,804		—		14,766,804		—		2015	N/A
1951 TW Alexander Drive Land	Durham, NC	—		758,503		—		235,437			993,940		—		993,940		—		2014	N/A
Flying Cloud Drive Land	Eden Pairie, MN	—		2,051,631		—		5,166,199			7,217,830		—		7,217,830		—		2007	N/A
Camelback 303 Business Center Land	Goodyear, AZ	—		16,857,556		—		4,247,448			21,105,004		—		21,105,004		—		2007	N/A
Pleasant Ridge Road Land	Greensboro, NC	—		564,535		—		2,936,009			3,500,544		—		3,500,544		—		2006	N/A
Caliber Ridge Ind. Park Land	Greer, SC	—		16,338		—		43,923			60,261		—		60,261		—		2007	N/A
Ridge Road & Hanover Road Land	Hanover, MD	—		3,875,203		—		578,732			4,453,935		—		4,453,935		—		2012	N/A
Arundel Road Land	Hanover, MD	—		3,371,183		—		(583,888		)	2,787,295		—		2,787,295		—		2008	N/A
Interwood Land	Houston, TX	—		5,160,668		—		14,470			5,175,138		—		5,175,138		—		2012	N/A
Rankin Road Land	Houston, TX	—		5,756,865		—		3,417,149			9,174,014		—		9,174,014		—		2007	N/A
Richey Road Land	Houston, TX	—		26,135,466		—		6,321,539			32,457,005		—		32,457,005		—		2014	N/A
Taub Beltway 8 Land	Houston, TX	—		4,611,474		—		920,126			5,531,600		—		5,531,600		—		2012	N/A
Frye Road and Valley View Lane Land	Irving, TX	—		1,917,440		—		330,155			2,247,595		—		2,247,595		—		2014	N/A
Rouse Kent Limited	Kent, UK	—		—		—		—			15,806,030		—		15,806,030		—		2012	N/A
Port Crossing Commerce Center Land	La Porte, TX	—		22,454,978		—		589,812			23,044,790		—		23,044,790		—		2015	N/A
Commodore Business Park	Logan, NJ	—		792,118		—		1,416,243			2,208,361		—		2,208,361		—		1995	N/A
Spring Creek Land	Lower Macungie Twp, PA	—		35,499,849		—		8,515,631			44,015,480		—		44,015,480		—		2013	N/A
380 Old Morehall Road	Malvern, PA	—		1,344,809		—		—			1,344,809		—		1,344,809		—		2012	N/A
6 Great Valley Parkway Land	Malvern, PA	—		603,050		—		2,049,126			2,652,176		—		2,652,176		—		2015	N/A
Quarry Ridge Land	Malvern, PA	—		675,499		—		297,332			972,831		—		972,831		—		2001	N/A

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2015
				Initial Cost						Gross Amount Carried at End of Period
Project	Location	Encumbrances (1)		Land		Building		Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements		Building and Improvements		Total 12/31/2015		Accumulated Depreciation 12/31/2015		Date of Construction or Acquisition	Depreciable life (years)
LAND HELD FOR DEVELOPMENT
Miami International Tradeport Land	Medley, FL	—		16,739,632		—		10,787,022		27,526,654		—		27,526,654		—		2011	N/A
Monarch Towne Center Land	Mirarar, FL	—		6,085,337		—		1,164,543		7,249,880		—		7,249,880		—		2006	N/A
557 Nazareth Pike Land	Nazareth, PA	—		4,667,646		—		486,885		5,154,531		—		5,154,531		—		2013	N/A
South 27th Street Land	Oak Creek, WI	—		427,838		—		—		434,870		—		434,870		—		2006	N/A
Beachline Industrial Park Land	Orlando, FL	—		267,468		—		222,069		489,537		—		489,537		—		2004	N/A
Southern Boulevard Land	Palm Beach County, FL	—		12,042,368		—		4,671,872		16,714,240		—		16,714,240		—		2014	N/A
Buckeye Logistics Center West Land	Phoenix, AZ	—		11,203,594		—		703,833		11,907,427		—		11,907,427		—		2013	N/A
Cotton Center Land	Phoenix, AZ	—		8,237,744		—		3,943		8,241,687		—		8,241,687		—		2007	N/A
Sherrif Road Land	Prince George's County, MD	—		4,893,300		—		662,231		5,555,531		—		5,555,531		—		2015	N/A
Woodlands Center Land	Sandston, VA	—		148,314		—		21,442		169,756		—		169,756		—		1996	N/A
Northsight Land	Scottsdale, AZ	—		6,176,464		—		2,176,777		8,353,241		—		8,353,241		—		2005	N/A
Suffolk Land	Suffolk, VA	—		2,715,714		—		813,499		3,529,213		—		3,529,213		—		2006	N/A
6119 W. Linebaugh Avenue	Tampa, FL	—		180,136		—		30,114		210,250		—		210,250		—		2000	N/A
Legacy Park Land	Tampa, FL	—		3,289,423		—		4,950,267		8,239,690		—		8,239,690		—		2006	N/A
Renaissance Park Land	Tampa, FL	—		1,995,375		—		338,629		2,334,004		—		2,334,004		—		2007	N/A
Subtotal Land Held for Development		$	—	$	251,940,264	$	—	$	69,213,501	$	336,966,826	$	—	$	336,966,826	$	—
Total All Properties		$	55,484,649	$	1,501,956,884	$	2,652,302,317	$	2,844,417,302	$	1,521,894,052	$	5,492,595,513	$	7,014,489,565	$	1,148,928,324

* Denotes property is collateralized under mortgages with Allianz, LaSalle Bank, Athene, New York Life and Wells Fargo totaling $232.1 million.

(1) Does not include deferred financing costs and market adjustments.

(2) Includes foreign currency changes and write-offs of certain fully depreciated assets and net of impairment charges.

SCHEDULE III

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP

REAL ESTATE AND ACCUMULATED DEPRECIATION

(In thousands)

A summary of activity for real estate and accumulated depreciation is as follows:

	Year Ended December 31,
	2015			2014			2013
REAL ESTATE:
Balance at beginning of year	$	7,074,558		$	6,704,262		$	5,369,861
Additions	562,299			602,585			1,888,229
Disposition of property	(622,367		)	(232,289		)	(553,828		)
Balance at end of year	$	7,014,490		$	7,074,558		$	6,704,262
ACCUMULATED DEPRECIATION:
Balance at beginning of year	$	1,182,129		$	1,051,340		$	1,067,205
Depreciation expense	182,011			179,143			162,546
Disposition of property	(215,212		)	(48,354		)	(178,411		)
Balance at end of year	$	1,148,928		$	1,182,129		$	1,051,340