Schedule III

12 Months Ended

Dec. 31, 2016

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016		Accumulated Depreciation 12/31/2016		Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1467 Perryman Road	Aberdeen, MD	$	—	$	12,052,635	$	—	$	35,350,875	$	12,334,030	$	35,069,480	$	47,403,510	$	2,319,303	1984	5 - 40
1501 Perryman Road	Aberdeen, MD	—		5,813,324		18,874,059		6,232,539		5,816,839		25,103,083		30,919,922		6,723,493		1985	5 - 40
869 S Route 53	Addison, IL	—		1,194,223		4,201,881		77,652		1,194,223		4,279,534		5,473,757		424,062		1985	5 - 40
901 S Route 53	Addison, IL	—		2,055,066		5,984,093		863,926		2,055,066		6,848,019		8,903,085		691,088		1985	5 - 40
8620 Congdon Hill Drive	Alburtis, PA	—		38,328,000		—		36,272,373		38,328,000		36,272,373		74,600,373		176,452		2007	5 - 40
200 Boulder Drive	Allentown, PA	—		4,722,683		18,922,645		942,589		4,722,683		19,865,234		24,587,917		6,156,414		1985	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		5,107,522		2000	5 - 40
400 Nestle Way	Allentown, PA	—		8,065,500		—		27,983,513		8,184,096		27,864,917		36,049,013		14,944,604		2013	5 - 40
650 Boulder Drive	Allentown, PA	—		5,208,248		—		32,429,833		9,961,788		27,676,293		37,638,081		9,833,900		2013	5 - 40
651 Boulder Drive	Allentown, PA	—		4,308,646		—		17,844,894		4,308,646		17,844,894		22,153,540		8,892,782		2013	5 - 40
700 Nestle Way	Allentown, PA	—		3,473,120		—		20,222,715		4,174,970		19,520,865		23,695,835		10,529,674		2006	5 - 40
705 Boulder Drive	Allentown, PA	—		10,594,027		—		28,813,401		10,596,767		28,810,661		39,407,428		14,298,681		2011	5 - 40
7165 Ambassador Drive	Allentown, PA	—		792,999		—		4,644,609		804,848		4,632,760		5,437,608		2,031,336		2011	5 - 40
7248 Industrial Boulevard	Allentown, PA	—		2,670,849		13,307,408		4,759,556		2,670,673		18,067,140		20,737,813		9,018,935		2013	5 - 40
7339 Industrial Boulevard	Allentown, PA	—		1,187,776		—		7,592,257		1,197,447		7,582,586		8,780,033		3,913,214		2013	5 - 40
7437 Industrial Boulevard	Allentown, PA	—		717,488		5,022,413		3,449,601		726,651		8,462,850		9,189,501		5,213,645		2013	5 - 40
8014 Industrial Boulevard	Allentown, PA	—		4,019,258		—		10,000,352		3,645,117		10,374,493		14,019,610		5,143,974		2015	5 - 40
8150 Industrial Boulevard	Allentown, PA	—		2,564,167		—		9,479,952		2,571,466		9,472,653		12,044,119		3,528,379		2013	5 - 40
8250 Industrial Boulevard	Allentown, PA	—		1,025,667		—		5,066,872		1,035,854		5,056,685		6,092,539		1,799,894		2013	5 - 40
8400 Industrial Boulevard	Allentown, PA	—		6,725,948		—		27,402,564		7,521,211		26,607,301		34,128,512		7,412,738		2013	5 - 40
6330 Hedgewood Drive	Allentown, PA	—		531,268		—		6,074,622		532,047		6,073,843		6,605,890		3,836,591		2013	5 - 40
6350 Hedgewood Drive	Allentown, PA	—		360,027		—		4,526,060		560,691		4,325,396		4,886,087		2,458,586		2013	5 - 40
6370 Hedgewood Drive	Allentown, PA	—		540,795		—		4,121,035		541,459		4,120,371		4,661,830		2,427,731		2016	5 - 40
6390 Hedgewood Drive	Allentown, PA	—		707,203		—		3,138,461		707,867		3,137,797		3,845,664		1,903,126		1995	5 - 40
6520 Stonegate Drive	Allentown, PA	—		453,315		—		1,873,771		484,361		1,842,725		2,327,086		1,050,115		1985	5 - 40
6540 Stonegate Drive	Allentown, PA	—		422,042		—		5,271,389		422,730		5,270,701		5,693,431		2,904,488		2013	5 - 40
6560 Stonegate Drive	Allentown, PA	—		458,281		—		3,812,638		458,945		3,811,974		4,270,919		2,117,790		2013	5 - 40
6580 Snowdrift Road	Allentown, PA	—		388,328		—		4,876,767		389,081		4,876,014		5,265,095		3,025,010		2014	5 - 40
7620 Cetronia Road	Allentown, PA	—		1,091,806		3,851,456		445,980		1,093,724		4,295,518		5,389,242		2,265,098		2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
700 Uline Way	Allentown, PA	—		26,311,300	—	75,988,219		30,712,602	71,586,917	102,299,519	519,191	2013	5 - 40
800 Uline Way	Allentown, PA	—		14,754,000	—	41,114,385		17,126,315	38,742,070	55,868,385	376,857	2013	5 - 40
3095 Presidential Drive	Atlanta, GA	—		200,351	1,729,161	244,810		200,351	1,973,971	2,174,322	244,124	2006	5 - 40
3097 Presidential Drive	Atlanta, GA	—		188,680	1,721,048	166,204		188,680	1,887,252	2,075,932	203,086	2014	5 - 40
7030 Buford Highway NE	Atlanta, GA	—	*	919,850	4,051,340	937,692		919,850	4,989,032	5,908,882	646,951	2006	5 - 40
Barton 150	Barton Under Needwood, UK	—		2,196,955	13,643,981	(4,029,838	)	1,638,063	10,173,035	11,811,098	995,308	2013	5 - 40
1055-1071 Kingsland Drive	Batavia, IL	—		727,294	2,367,529	686,568		727,294	3,054,097	3,781,391	366,744	2013	5 - 40
4606 Richlynn Drive	Belcamp, MD	—		299,600	1,818,861	712,788		299,600	2,531,649	2,831,249	1,104,502	2013	5 - 40
11800 Baltimore Avenue	Beltsville,MD	—		2,769,962	1,829,028	278,794		2,663,725	2,214,060	4,877,785	313,325	2014	5 - 40
11850 Baltimore Avenue	Beltsville,MD	—		3,595,044	2,415,132	145,949		3,457,162	2,698,963	6,156,125	477,203	2016	5 - 40
11900 Baltimore Avenue	Beltsville,MD	—		3,492,036	2,024,038	366,205		3,358,104	2,524,175	5,882,279	524,742	2016	5 - 40
12104 Indian Creek Court	Beltsville,MD	—		2,021,752	2,503,802	397,174		2,021,752	2,900,976	4,922,728	581,288	2013	5 - 40
12200 Indian Creek Court	Beltsville,MD	—		1,347,882	1,460,291	614,057		1,347,882	2,074,348	3,422,230	266,439	2007	5 - 40
12240 Indian Creek Court	Beltsville,MD	—		1,479,307	2,159,997	781,160		1,479,307	2,941,158	4,420,465	343,319	2013	5 - 40
1071 Thorndale Avenue	Bensenville,IL	—		2,173,006	2,280,788	279,776		2,016,715	2,716,855	4,733,570	362,273	2014	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	578,737	2008	5 - 40
371-377 Meyer Road	Bensenville,IL	—	*	1,903,423	3,563,953	264,360		1,903,423	3,828,313	5,731,736	478,694	2013	5 - 40
850-880 Devon Ave	Bensenville,IL	—	*	2,958,756	7,959,013	780,065		2,958,756	8,739,078	11,697,834	1,049,558	2013	5 - 40
10 Emery Street	Bethlehem, PA	—		5,591,216	32,941,818	7,265,580		8,947,574	36,851,040	45,798,614	2,929,841	2004	5 - 40
2785 Commerce Center Boulevard	Bethlehem, PA	—		11,961,623	—	46,707,077		12,009,985	46,658,715	58,668,700	4,358,917	2013	5 - 40
1455 Remington Boulevard	Bolingbrook, IL	—		2,501,294	10,704,719	1,170		2,501,294	10,705,889	13,207,183	1,169,697	2013	5 - 40
150 E Crossroads Parkway	Bolingbrook, IL	—	*	3,078,949	14,143,377	1,124,578		3,078,949	15,267,955	18,346,904	1,712,589	2005	5 - 40
553 S Joliet Ave	Bolingbrook, IL	—	*	3,764,831	15,109,947	1,469,069		3,764,831	16,579,016	20,343,847	2,205,965	2005	5 - 40
400 Boulder Drive	Breinigsville, PA	—		2,859,106	—	10,599,615		2,865,575	10,593,146	13,458,721	3,358,912	2013	5 - 40
8201 Industrial Boulevard	Breinigsville, PA	—		2,089,719	—	8,353,910		2,222,168	8,221,461	10,443,629	2,235,927	2013	5 - 40
8500 Industrial Boulevard	Breinigsville, PA	—		8,752,708	—	40,133,665		11,511,499	37,374,874	48,886,373	10,316,766	2013	5 - 40
860 Nestle Way	Breinigsville, PA	—		8,118,881	18,885,486	7,520,945		8,118,881	26,406,431	34,525,312	9,758,985	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1485 W. Commerce Avenue	Carlisle, PA	—		4,249,868	13,886,039	2,344,063	4,095,262	16,384,708	20,479,970	6,463,352	2013	5 - 40
40 Logistics Drive	Carlisle, PA	—		7,981,850	—	33,016,988	8,081,272	32,917,566	40,998,838	4,140,856	2013	5 - 40
135-195 East Elk Trail	Carol Stream, IL	—		4,873,094	12,430,320	2,229,287	4,873,094	14,659,607	19,532,701	1,144,752	2013	5 - 40
515 Kehoe Boulevard	Carol Stream, IL	—		5,523,427	14,581,705	1,016,882	5,523,427	15,598,587	21,122,014	1,366,471	2013	5 - 40
1413 Bradley Lane	Carrollton, TX	—	*	247,477	2,028,322	83,523	247,477	2,111,845	2,359,322	256,594	2005	5 - 40
3200 Belmeade Drive	Carrollton, TX	—		1,042,453	8,027,974	424,957	1,042,453	8,452,931	9,495,384	917,970	2001	5 - 40
1475 Nitterhouse Dr	Chambersburg, PA	—		7,081,007	39,002,011	2,091,556	7,081,007	41,093,567	48,174,574	4,663,680	2001	5 - 40
95 Kriner Road	Chambersburg, PA	—		8,695,501	—	35,058,041	9,407,871	34,345,671	43,753,542	8,074,404	2004	5 - 40
9000 109th Street	Champlin, MN	—		1,251,043	11,662,995	119,919	1,251,043	11,782,914	13,033,957	1,803,401	1995	5 - 40
11701 Goodrich Drive	Charlotte, NC	—		2,054,621	6,356,151	847,042	2,054,621	7,203,192	9,257,813	1,429,290	1996	5 - 40
12810 Virkler Drive	Charlotte, NC	—		475,368	2,367,586	803,884	476,262	3,170,575	3,646,837	469,072	1997	5 - 40
2700 Hutchinson McDonald Road	Charlotte, NC	—		912,500	4,721,259	322,907	912,500	5,044,166	5,956,666	771,151	1997	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	846,716	2006	5 - 40
2730 Hutchinson McDonald Road	Charlotte, NC	—		1,878,750	10,129,499	32,484	1,878,750	10,161,983	12,040,733	1,440,018	2015	5 - 40
2801 Hutchinson McDonald Road	Charlotte, NC	—		1,065,000	6,975,250	605,167	1,065,000	7,580,417	8,645,417	1,104,601	1989	5 - 40
3000 Crosspoint Center Lane	Charlotte, NC	—		1,831,250	10,779,412	1,100,142	1,831,250	11,879,554	13,710,804	1,710,855	1989	5 - 40
3005 Crosspoint Center Lane	Charlotte, NC	—		1,990,000	6,561,540	1,171,719	1,990,000	7,733,259	9,723,259	1,040,722	1988	5 - 40
4045 Perimeter West Drive	Charlotte, NC	—		1,418,928	7,511,050	183,383	1,418,928	7,694,433	9,113,361	1,198,063	1989	5 - 40
4047 Perimeter West Drive	Charlotte, NC	—		1,279,004	—	6,399,096	1,279,004	6,399,096	7,678,100	886,370	2013	5 - 40
4525 Statesville Road	Charlotte, NC	—		841,250	5,279,315	316,750	837,144	5,600,171	6,437,315	807,037	2013	5 - 40
4835 Sirona Drive	Charlotte, NC	3,429,062		690,750	5,086,388	132,973	690,750	5,219,361	5,910,111	618,965	2013	5 - 40
4925 Sirona Drive	Charlotte, NC	3,445,719		603,003	4,969,011	146,835	603,003	5,115,846	5,718,849	686,589	2013	5 - 40
5032 Sirona Drive	Charlotte, NC	—		1,416,763	—	9,029,649	1,416,763	9,029,649	10,446,412	162,570	2013	5 - 40
5033 Sirona Drive	Charlotte, NC	2,931,771		509,247	4,710,218	183,541	613,962	4,789,044	5,403,006	605,740	2013	5 - 40
5039 Sirona Drive	Charlotte, NC	—		1,027,500	6,172,807	62,651	1,027,500	6,235,458	7,262,958	354,708	2010	5 - 40
8910 Pioneer Avenue	Charlotte, NC	—		527,873	4,959,206	287,144	527,873	5,246,350	5,774,223	648,191	2010	5 - 40
8916 Pioneer Avenue	Charlotte, NC	—		557,730	5,785,333	461,744	557,730	6,247,077	6,804,807	923,373	2013	5 - 40
8924 Pioneer Avenue	Charlotte, NC	—		654,713	5,365,823	—	654,713	5,365,823	6,020,536	5,466	2013	5 - 40
2601 Indian River Road	Chesapeake, VA	—	*	1,711,746	10,418,032	460,727	1,711,746	10,878,759	12,590,505	1,250,668	2016	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1540 S 54th Avenue	Cicero, IL	—		3,540,236	20,130,552	928,916		3,540,236	21,059,468	24,599,704	2,292,856	2000	5 - 40
4650 Lake Forest Drive	Cincinnati, OH	—		1,030,242	4,003,024	224,716		1,030,242	4,227,739	5,257,981	516,067	1999	5 - 40
4750 Lake Forest Drive	Cincinnati, OH	—		1,138,166	5,914,789	230,172		1,138,166	6,144,961	7,283,127	729,876	2007	5 - 40
9645 Gerwig Lane	Columbia, MD	—		1,915,960	6,461,228	320,391		1,915,960	6,781,619	8,697,579	838,295	2013	5 - 40
2550 John Glenn Avenue	Columbus, OH	—		540,601	5,129,342	835,318		540,601	5,964,660	6,505,261	600,700	2013	5 - 40
3800 Twin Creeks Drive	Columbus, OH	—		549,393	4,643,302	499,543		549,393	5,142,845	5,692,238	538,373	2013	5 - 40
330 South Royal Lane	Coppell, TX	—		2,091,426	—	11,402,325		2,091,426	11,402,325	13,493,751	463,175	2013	5 - 40
455 Airline Drive	Coppell, TX	—	*	312,701	2,311,531	742,190		312,701	3,053,721	3,366,422	587,157	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	908,002	2013	5 - 40
11020 Holly Lane	Dayton, MN	—		2,536,731	—	12,256,969		2,536,731	12,256,969	14,793,700	157,560	2011	5 - 40
329-333 Herrod Blvd	Dayton, NJ	—	*	4,039,559	20,863,051	2,285,014		4,039,559	23,148,065	27,187,624	2,515,094	2013	5 - 40
1250 Hall Court	Deer Park, TX	—		829,570	4,778,327	120,899		831,611	4,897,185	5,728,796	1,310,568	2013	5 - 40
333 Howard Avenue	Des Plaines, IL	—		7,928,724	—	14,263,106		7,928,724	14,263,106	22,191,830	334,384	2014	5 - 40
1680 Executive Drive	Duluth, GA	—		1,928,412	4,651,819	573,627		1,928,412	5,225,446	7,153,858	831,701	2012	5 - 40
1700 Executive Drive	Duluth, GA	—		1,082,072	2,496,599	549,432		1,082,072	3,046,031	4,128,103	452,838	2013	5 - 40
2670 Breckinridge Blvd	Duluth, GA	—		1,676,415	4,567,592	927,127		1,676,415	5,494,720	7,171,135	637,871	2013	5 - 40
170 Parkway West	Duncan, SC	—		598,348	3,643,756	549,357		598,918	4,192,543	4,791,461	1,205,279	2014	5 - 40
190 Parkway West	Duncan, SC	—		551,663	3,310,993	251,300		552,211	3,561,744	4,113,955	969,780	1997	5 - 40
265 Parkway East	Duncan, SC	—		901,444	5,751,389	193,199		902,374	5,943,658	6,846,032	1,915,845	2013	5 - 40
285 Parkway East	Duncan, SC	—		975,433	5,851,990	413,247		976,393	6,264,277	7,240,670	1,712,719	1997	5 - 40
1000 Parliament Court	Durham, NC	—		2,229,000	7,064,506	603,830		2,229,000	7,668,336	9,897,336	534,490	2005	5 - 40
4226 Surles Court	Durham, NC	—		1,440,000	7,932,265	163,047		1,440,000	8,095,312	9,535,312	763,084	2013	5 - 40
4227 Surles Court	Durham, NC	—		1,500,000	5,624,030	214,857		1,500,000	5,838,886	7,338,886	378,331	1997	5 - 40
4234 Surles Court	Durham, NC	—		1,440,000	7,356,161	(4,933	)	1,440,000	7,351,228	8,791,228	649,580	2005	5 - 40
4300 Emperor Center	Durham, NC	—		1,576,500	4,240,961	(8,916	)	1,576,500	4,232,045	5,808,545	305,053	2002	5 - 40
1957 TW Alexander Drive	Durham, NC	—		1,844,943	—	7,938,998		3,091,046	6,692,895	9,783,941	1,131	2013	5 - 40
3169 Dodd Road	Eagan, MN	—		988,594	6,586,907	6,464		988,594	6,593,371	7,581,965	928,496	2001	5 - 40
3711 Kennebec Drive	Eagan, MN	—		999,702	4,042,589	325,995		999,702	4,368,584	5,368,286	966,648	2004	5 - 40
917 Lone Oak Road	Eagan, MN	—	*	1,493,115	6,120,455	609,183		1,493,115	6,729,638	8,222,753	873,373	1999	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
10301-10305 West 70th Street	Eden Prairie, MN	—		120,622	1,085,226	310,312	118,300	1,397,860	1,516,160	643,228	2013	5 - 40
10321 West 70th Street	Eden Prairie, MN	—		145,198	1,305,700	578,495	142,399	1,886,994	2,029,393	892,182	2013	5 - 40
10333 West 70th Street	Eden Prairie, MN	—		110,746	995,868	285,802	108,610	1,283,806	1,392,416	611,942	2013	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	1,712,016	2007	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	1,737,212	2007	5 - 40
10393-10394 West 70th Street	Eden Prairie, MN	—		269,618	2,423,318	2,269,368	264,419	4,697,885	4,962,304	1,895,959	2011	5 - 40
7075 Flying Cloud Drive	Eden Prairie, MN	—		10,232,831	10,855,851	4,331,163	10,243,977	15,175,867	25,419,844	2,955,224	2013	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	2,436,859	2013	5 - 40
7777 Golden Triangle Drive	Eden Prairie, MN	—		993,101	2,136,862	881,416	993,101	3,018,277	4,011,378	1,231,573	2013	5 - 40
2250 Arthur Avenue	Elk Grove, IL	—		1,403,196	2,386,396	149,086	1,403,196	2,535,482	3,938,678	296,511	2006	5 - 40
6600 Business Parkway	Elkridge, MD	—		3,680,220	14,671,910	701,811	3,680,220	15,373,721	19,053,941	1,493,289	2013	5 - 40
6675 Business Parkway	Elkridge, MD	—	*	2,421,854	9,730,192	566,777	2,421,854	10,296,969	12,718,823	1,042,430	2007	5 - 40
7351 Coca Cola Drive	Elkridge, MD	—		1,897,044	—	7,410,314	3,023,417	6,283,941	9,307,358	1,815,210	2007	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	4,440,370	2000	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	925,484	2004	5 - 40
1800 Donaldson Road	Erlanger, KY	—		—	13,211,604	709,891	—	13,921,495	13,921,495	3,004,403	2004	5 - 40
6880 Fairfield Drive	Fairfield, OH	—		412,136	3,029,177	155,862	412,136	3,185,039	3,597,175	340,785	2004	5 - 40
7000-7018 Fairfield Business	Fairfield, OH	—		367,925	2,205,817	144,414	386,928	2,331,228	2,718,156	246,535	2012	5 - 40
10721 Jasmine Street	Fontana, CA	—		11,427,061	23,784,779	2,353,817	11,427,061	26,138,596	37,565,657	1,035,397	2013	5 - 40
2000 Southpointe Dr	Forest Park, GA	—		756,221	9,115,626	626,719	756,221	9,742,345	10,498,566	1,116,707	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	259,627	2013	5 - 40
6500 NW 12th Avenue	Fort Lauderdale, FL	—		—	3,064,734	411,144	—	3,475,878	3,475,878	398,203	2013	5 - 40
6501 NW 12th Avenue	Fort Lauderdale, FL	—		519,984	2,677,465	43,251	519,984	2,720,716	3,240,700	247,442	2013	5 - 40
6600 NW 12th Avenue	Fort Lauderdale, FL	—		—	2,988,181	274,482	—	3,262,663	3,262,663	386,938	2013	5 - 40
11222 Melrose Avenue	Franklin Park, IL	—		2,999,106	4,658,605	153,158	2,999,106	4,811,763	7,810,869	127,245	2013	5 - 40
9601 Cosner Drive	Fredericksburg, VA	—		475,262	3,917,234	242,595	475,262	4,159,829	4,635,091	2,250,921	2013	5 - 40
5410 - 5430 Northwest 33rd Avenue	Ft. Lauderdale, FL	—		603,776	4,176,238	1,976,991	625,111	6,131,894	6,757,005	3,000,812	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	223,297	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	315,709	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
12681-12691 Pala Drive	Garden Grove, CA	—		5,221,102	3,225,596	83,450	5,220,148	3,310,000	8,530,148	261,465	2014	5 - 40
850 S Jupiter Road	Garland, TX	—		799,707	6,122,065	505,061	799,707	6,627,126	7,426,833	752,290	2013	5 - 40
2510 W Main Street	Grand Prairie, TX	—	*	1,785,741	11,158,818	882,172	1,785,741	12,040,990	13,826,731	1,646,773	2013	5 - 40
4251 North Highway 121	Grapevine, TX	—	*	1,165,780	7,799,270	422,213	1,165,780	8,221,482	9,387,262	1,009,876	2013	5 - 40
1150 Pleasant Ridge Road	Greensboro, NC	—		1,547,811	—	14,208,812	3,712,683	12,043,940	15,756,623	2,616,841	2006	5 - 40
25 Brookfield Oaks Drive	Greenville, SC	—		288,823	3,441,512	43,182	288,823	3,484,694	3,773,517	374,491	2014	5 - 40
45 Brookfield Oaks Drive	Greenville, SC	—		818,114	—	4,470,587	825,529	4,463,172	5,288,701	1,144,890	2006	5 - 40
2011 Southtech Drive	Greenwood, IN	—		223,702	3,574,142	349,736	223,702	3,923,878	4,147,580	515,529	2013	5 - 40
2121 Southtech Drive	Greenwood, IN	—		272,823	3,606,920	425,965	272,823	4,032,886	4,305,709	674,940	2013	5 - 40
800 Commerce Parkway West Dr	Greenwood, IN	—		1,374,664	29,963,830	1,616,774	1,374,664	31,580,604	32,955,268	3,605,585	2013	5 - 40
110 Caliber Ridge Dr	Greer, SC	—		555,549	—	6,331,166	1,228,880	5,657,835	6,886,715	325,933	2014	5 - 40
120 Caliber Ridge Dr	Greer, SC	—		1,243,100	—	6,590,252	1,243,100	6,590,252	7,833,352	257,972	2016	5 - 40
130 Caliber Ridge Dr	Greer, SC	—		1,171,160	—	6,034,563	1,171,160	6,034,563	7,205,723	135,801	2016	5 - 40
140 Caliber Ridge Drive	Greer, SC	—		1,243,100	—	6,426,293	1,243,100	6,426,293	7,669,393	395,610	2015	5 - 40
1487 South Highway 101	Greer, SC	—		464,237	—	5,829,595	1,301,738	4,992,094	6,293,832	1,011,407	2007	5 - 40
2727 London Grove Road	Groveport, OH	—		1,875,607	11,937,935	1,672,294	1,875,607	13,610,229	15,485,836	1,592,762	2013	5 - 40
11835 Newgate Boulevard	Hagerstown, MD	—		14,121,622	—	23,019,069	14,121,622	23,019,069	37,140,691	1,429,004	2015	5 - 40
11841 Newgate Boulevard	Hagerstown, MD	—		3,356,207	—	30,566,609	9,741,685	24,181,131	33,922,816	5,846,534	2008	5 - 40
1560 Hunter Road	Hanover Park, IL	—	*	2,639,734	12,310,741	1,125,886	2,639,734	13,436,627	16,076,361	1,418,917	2013	5 - 40
1575 Hunter Road	Hanover Park, IL	—	*	3,293,284	17,235,926	1,159,989	3,293,284	18,395,915	21,689,199	2,021,398	2013	5 - 40
7361 Coca Cola Drive	Hanover, MD	—		2,245,187	—	9,419,956	3,822,710	7,842,433	11,665,143	1,629,408	2004	5 - 40
7460 New Ridge Road	Hanover, MD	—		3,785,446	—	7,658,893	3,796,023	7,648,316	11,444,339	333,250	2015	5 - 40
7462 New Ridge Road	Hanover, MD	—		4,059,337	—	7,481,893	4,070,629	7,470,601	11,541,230	325,162	2015	5 - 40
500 McCarthy Drive	Harrisburg, PA	—		5,194,872	19,991,436	5,018,136	5,687,013	24,517,431	30,204,444	8,376,356	2005	5 - 40
600 Industrial Drive	Harrisburg, PA	—		7,743,800	—	29,159,534	9,368,557	27,534,777	36,903,334	8,663,016	2005	5 - 40
7195 Grayson Road	Harrisburg, PA	—		464,534	6,066,272	243,707	464,534	6,309,979	6,774,513	654,034	2013	5 - 40
7253 Grayson Road	Harrisburg, PA	—		954,130	10,585,367	547,545	954,130	11,132,912	12,087,042	1,069,407	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
12537 Cerise Avenue	Hawthorne, CA	—		2,203,194	5,758,809	94,181		2,203,194	5,852,990	8,056,184	649,501	2013	5 - 40
1010 Petersburg Road	Hebron, KY	—		305,471	5,434,505	(819,916	)	305,471	4,614,589	4,920,060	627,848	2013	5 - 40
785 Lindbergh Court	Hebron, KY	—		401,410	3,087,899	511,543		401,410	3,599,442	4,000,852	612,450	2013	5 - 40
805 Lindbergh Court	Hebron, KY	—		292,096	2,502,486	163,618		292,096	2,666,103	2,958,199	354,922	2013	5 - 40
825 Lindbergh Court	Hebron, KY	—		370,149	3,095,116	427,153		370,149	3,522,270	3,892,419	469,314	2013	5 - 40
845 Lindbergh Court	Hebron, KY	—		444,318	3,811,889	257,404		444,318	4,069,293	4,513,611	510,796	2013	5 - 40
1498 Eagle Hill Drive	High Point, NC	—		94,274	—	6,174,627		791,880	5,477,021	6,268,901	1,470,238	2005	5 - 40
4183 Eagle Hill Drive	High Point, NC	—		122,203	—	3,216,383		526,266	2,812,320	3,338,586	1,209,332	2001	5 - 40
4189 Eagle Hill Drive	High Point, NC	—		100,106	—	3,610,018		431,106	3,279,018	3,710,124	1,596,673	2001	5 - 40
4195 Eagle Hill Drive	High Point, NC	—		107,586	—	3,391,467		505,700	2,993,353	3,499,053	893,968	2004	5 - 40
4328, 4336 Federal Drive	High Point, NC	539,575		521,122	—	5,278,965		825,092	4,974,995	5,800,087	2,396,029	1995	5 - 40
4344 Federal Drive	High Point, NC	—		484,001	—	3,113,990		173,623	3,424,368	3,597,991	1,769,967	1996	5 - 40
4380 Federal Drive	High Point, NC	—		282,996	—	2,209,513		283,368	2,209,141	2,492,509	1,125,857	1997	5 - 40
4388 Federal Drive	High Point, NC	—		143,661	—	1,214,707		132,655	1,225,713	1,358,368	613,784	1997	5 - 40
4475 Premier Drive	High Point, NC	—		748,693	—	6,806,479		1,525,421	6,029,751	7,555,172	1,279,125	2006	5 - 40
4485 Premier Drive	High Point, NC	—		1,827,595	—	2,597,239		1,044,288	3,380,546	4,424,834	43,002	2015	5 - 40
4500 Green Point Drive	High Point, NC	—		230,622	—	2,744,942		231,692	2,743,872	2,975,564	1,509,824	1989	5 - 40
4501 Green Point Drive	High Point, NC	—		319,289	—	3,110,458		320,450	3,109,297	3,429,747	1,850,162	1989	5 - 40
4523 Green Point Drive	High Point, NC	—		234,564	—	3,280,376		235,698	3,279,242	3,514,940	2,138,014	1988	5 - 40
4524 Green Point Drive	High Point, NC	—		182,810	—	2,815,190		183,888	2,814,112	2,998,000	1,690,876	1989	5 - 40
Unit 5 Logix Road	Hinckley, UK	—		10,547,677	29,691,911	(10,236,705	)	7,864,413	22,138,470	30,002,883	2,341,916	2013	5 - 40
1515 6th Street South	Hopkins,MN	—		813,036	1,503,075	362,817		813,036	1,865,892	2,678,928	384,705	2013	5 - 40
1600 5th Street South	Hopkins,MN	—		339,336	2,106,454	80,794		339,336	2,187,249	2,526,585	229,679	2013	5 - 40
1000 South Loop West	Houston, TX	—	*	509,351	3,549,504	871,341		509,351	4,420,845	4,930,196	614,631	2013	5 - 40
10241 W Little York Rd	Houston, TX	—		558,491	5,740,552	133,643		558,491	5,874,195	6,432,686	575,354	2013	5 - 40
10245 W Little York Rd	Houston, TX	—		426,927	3,460,513	379,988		426,927	3,840,501	4,267,428	595,671	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	543,738	2010	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
10305 Round Up Lane	Houston, TX	—		1,340,609	7,489,720	2,927,548	1,340,609	10,417,267	11,757,876	1,963,470	2010	5 - 40
1050 Greens Parkway	Houston, TX	—		973,482	—	3,627,200	992,093	3,608,589	4,600,682	251,402	2015	5 - 40
10607 Haddington Drive	Houston, TX	—	*	201,469	1,631,561	132,607	201,469	1,764,169	1,965,638	215,692	2013	5 - 40
10720 West Sam Houston Pkwy N	Houston, TX	—		3,871,875	—	28,945,116	3,871,875	28,945,116	32,816,991	737,940	2016	5 - 40
10735 West Little York Road	Houston, TX	—		1,110,988	6,351,946	3,220,697	1,135,483	9,548,148	10,683,631	3,141,008	2000	5 - 40
10739 West Little York Road	Houston, TX	—		797,931	5,950,894	527,409	799,560	6,476,674	7,276,234	2,438,811	1999	5 - 40
11201 Greens Crossing Boulevard	Houston, TX	—		1,006,194	5,412,584	2,609,554	1,008,542	8,019,790	9,028,332	2,309,645	2007	5 - 40
11220 Ella Boulevard	Houston, TX	—		1,505,855	—	7,397,354	1,534,644	7,368,565	8,903,209	348,583	2015	5 - 40
1283 N Post Oak Rd	Houston, TX	—	*	80,730	870,656	145,476	80,730	1,016,132	1,096,862	135,165	2013	5 - 40
1287 N Post Oak Rd	Houston, TX	—	*	146,654	1,620,780	59,710	146,654	1,680,489	1,827,143	236,879	2013	5 - 40
1291 N Post Oak Rd	Houston, TX	—	*	510,102	4,129,042	561,970	510,102	4,691,012	5,201,114	579,918	2013	5 - 40
1416 N Sam Houston Parkway E	Houston, TX	—	*	218,850	1,639,902	556,292	218,850	2,196,193	2,415,043	301,676	2013	5 - 40
1420 N Sam Houston Parkway E	Houston, TX	—	*	211,279	1,554,156	116,306	211,279	1,670,462	1,881,741	208,672	2013	5 - 40
14200 Hollister Road	Houston, TX	—		1,396,794	—	4,859,739	1,699,632	4,556,901	6,256,533	531,845	2011	5 - 40
1424 N Sam Houston Parkway E	Houston, TX	—	*	283,107	2,077,323	416,964	283,107	2,494,287	2,777,394	291,827	2013	5 - 40
1428 N Sam Houston Parkway E	Houston, TX	—	*	367,446	1,952,453	183,185	367,446	2,135,637	2,503,083	259,350	2013	5 - 40
14300 Hollister Road	Houston, TX	—	*	1,377,193	—	5,679,691	1,405,899	5,650,985	7,056,884	503,260	2014	5 - 40
14400 Hollister Road	Houston, TX	—	*	1,830,419	—	7,239,740	1,861,540	7,208,619	9,070,159	1,322,096	2012	5 - 40
15102 Sommermeyer St	Houston, TX	—		755,121	3,155,774	247,397	755,121	3,403,171	4,158,292	446,988	2013	5 - 40
15150 Sommermeyer St	Houston, TX	—		418,580	1,564,587	230,574	418,580	1,795,161	2,213,741	245,069	2013	5 - 40
16330 Central Green Boulevard	Houston, TX	—		1,540,109	—	8,528,507	1,966,472	8,102,144	10,068,616	617,774	2014	5 - 40
16405 Air Center Boulevard	Houston, TX	—		438,853	3,030,396	552,188	438,853	3,582,584	4,021,437	1,828,930	1997	5 - 40
16420 West Hardy Road	Houston, TX	—		529,876	3,267,872	405,158	529,876	3,673,030	4,202,906	425,317	2013	5 - 40
16445 Air Center Boulevard	Houston, TX	—		363,339	2,509,186	364,183	363,339	2,873,369	3,236,708	1,339,476	1997	5 - 40
1646 Rankin Road	Houston, TX	—		329,961	—	5,128,210	592,234	4,865,937	5,458,171	1,424,604	2005	5 - 40
1655 Townhurst Drive	Houston, TX	—	*	197,226	935,036	528,658	197,226	1,463,694	1,660,920	240,071	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	1,956,500	1997	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
16602 Central Green Boulevard	Houston, TX	—		284,403	—	5,461,695		503,779	5,242,319	5,746,098	1,435,142	2005	5 - 40
16605 Air Center Boulevard	Houston, TX	—		298,999	—	3,423,751		496,186	3,226,564	3,722,750	1,190,212	2002	5 - 40
1665 Townhurst Drive	Houston, TX	—	*	452,439	2,016,585	535,863		452,439	2,552,447	3,004,886	217,319	2013	5 - 40
16680 Central Green Boulevard	Houston, TX	—		311,952	—	3,714,116		492,869	3,533,199	4,026,068	769,315	2001	5 - 40
16685 Air Center Boulevard	Houston, TX	—		414,691	—	2,455,222		414,691	2,455,222	2,869,913	758,065	2004	5 - 40
1755 Trans Central Drive	Houston, TX	—		293,534	3,036,269	1,336,826		306,147	4,360,482	4,666,629	1,505,006	1999	5 - 40
4301 S Pinemont Dr	Houston, TX	—	*	226,973	1,174,979	142,562		226,973	1,317,541	1,544,514	196,184	2013	5 - 40
4401 S Pinemont Dr	Houston, TX	—	*	244,240	1,412,622	97,515		244,240	1,510,137	1,754,377	247,437	2013	5 - 40
4501 S Pinemont Dr	Houston, TX	—	*	252,907	1,504,053	68,292		252,907	1,572,345	1,825,252	203,559	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	3,288,143	2007	5 - 40
5250 N. Sam Houston Parkway	Houston, TX	—		2,173,287	8,868,256	2,296,346		2,173,942	11,163,947	13,337,889	2,648,783	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	1,121,080	2011	5 - 40
8017 Pinemont Drive	Houston, TX	—		900,953	5,323,727	475,338		900,953	5,799,065	6,700,018	588,757	2013	5 - 40
8272 El Rio Street	Houston, TX	—	*	530,494	4,108,626	302,577		530,494	4,411,203	4,941,697	509,990	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	559,879	2013	5 - 40
8301 Fallbrook Drive	Houston, TX	—		4,515,862	—	26,930,936		7,083,514	24,363,284	31,446,798	5,575,785	2006	5 - 40
8303 Fallbrook Drive	Houston, TX	—		4,613,370	—	16,411,802		4,858,863	16,166,309	21,025,172	556,508	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	3,371,778	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	1,899,501	2007	5 - 40
8801-19 & 8821-49 Fallbrook Drive	Houston, TX	—		2,290,001	15,297,141	3,207,265		2,290,002	18,504,405	20,794,407	6,151,203	2000	5 - 40
8802-8824 Fallbrook Drive	Houston, TX	—		2,774,995	6,364,767	1,373,297		2,775,021	7,738,037	10,513,058	2,800,334	2004	5 - 40
8825-8839 N Sam Houston Pkwy	Houston, TX	—		638,453	3,258,815	759,249		638,477	4,018,039	4,656,516	1,273,899	2004	5 - 40
8850-8872 Fallbrook Drive	Houston, TX	—		504,317	2,878,351	1,342,043		504,341	4,220,370	4,724,711	1,565,437	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	1,152,770	2012	5 - 40
Cabot III UK1B01	Isle of Man, UK	—		11,888,058	35,003,668	(12,081,249	)	8,863,808	25,946,669	34,810,477	2,411,261	2013	5 - 40
1011 N Hilltop Drive	Itasca, IL	—		842,043	984,087	205,986		842,043	1,190,073	2,032,116	139,492	2013	5 - 40
1035 N Hilltop Drive	Itasca, IL	—		875,172	2,071,051	124,976		875,172	2,196,028	3,071,200	211,605	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1549 W Glenlake Avenue	Itasca, IL	—		1,339,627	3,763,288	192,040		1,339,627	3,955,327	5,294,954	427,368	2013	5 - 40
901 N Hilltop Drive	Itasca, IL	—		866,378	2,112,616	47,808		866,378	2,160,424	3,026,802	210,501	2013	5 - 40
925 N Hilltop Drive	Itasca, IL	—		945,251	2,010,181	47,379		945,251	2,057,560	3,002,811	197,257	2013	5 - 40
8241 Sandy Court	Jessup, MD	—		1,246,618	6,844,393	1,103,659		1,246,618	7,948,051	9,194,669	805,705	2013	5 - 40
8242 Sandy Court	Jessup, MD	—		1,488,746	9,072,440	1,493,323		1,488,746	10,565,763	12,054,509	1,161,811	2013	5 - 40
8246 Sandy Court	Jessup, MD	—		590,922	3,374,522	111,015		590,922	3,485,537	4,076,459	345,762	2013	5 - 40
1305 Chastain Road NW	Kennesaw, GA	—	*	808,159	5,712,959	1,051,081		808,159	6,764,040	7,572,199	883,996	2013	5 - 40
1325 Chastain Road NW	Kennesaw, GA	—	*	1,612,924	9,771,680	1,534,221		1,612,924	11,305,901	12,918,825	1,682,142	2013	5 - 40
3600 Cobb International Bld NW	Kennesaw, GA	—		716,860	6,962,212	588,950		716,860	7,551,163	8,268,023	948,932	2013	5 - 40
Unit 1 Bear Way	Kettering, UK	—		10,849,890	36,219,855	(11,974,257	)	8,089,744	27,005,744	35,095,488	2,695,056	2013	5 - 40
2100 Renaissance Boulevard	King of Prussia, PA	—		1,110,111	—	12,306,079		1,132,519	12,283,671	13,416,190	5,489,796	1999	5 - 40
2201 Renaissance Boulevard	King of Prussia, PA	—		2,370,895	—	15,302,266		2,413,514	15,259,647	17,673,161	7,225,129	2000	5 - 40
2300 Renaissance Boulevard	King of Prussia, PA	—		509,580	—	3,743,070		574,152	3,678,498	4,252,650	1,713,751	1999	5 - 40
2301 Renaissance Boulevard	King of Prussia, PA	—		1,645,246	—	30,461,859		4,581,649	27,525,456	32,107,105	12,142,198	2002	5 - 40
2500 Renaissance Boulevard	King of Prussia, PA	—		509,580	—	3,012,278		592,886	2,928,972	3,521,858	1,416,276	1999	5 - 40
2520 Renaissance Boulevard	King of Prussia, PA	—		1,020,000	—	5,293,427		978,402	5,335,025	6,313,427	1,766,387	1999	5 - 40
2560 Renaissance Boulevard	King of Prussia, PA	—		607,210	—	3,352,052		649,792	3,309,470	3,959,262	1,138,866	2000	5 - 40
2700 Horizon Drive	King of Prussia, PA	—		764,370	—	3,489,386		867,815	3,385,941	4,253,756	1,431,193	1998	5 - 40
2900 Horizon Drive	King of Prussia, PA	—		679,440	—	3,516,054		774,096	3,421,398	4,195,494	1,756,501	1998	5 - 40
3000 Horizon Drive	King of Prussia, PA	—		1,191,449	—	2,476,299		946,703	2,721,045	3,667,748	1,258,265	1997	5 - 40
3100 Horizon Drive	King of Prussia, PA	—		601,956	—	2,455,727		611,436	2,446,247	3,057,683	1,042,209	1995	5 - 40
3200 Horizon Drive	King of Prussia, PA	—		928,637	—	7,471,488		1,210,137	7,189,988	8,400,125	3,257,868	1996	5 - 40
3400 Horizon Drive	King of Prussia, PA	—		776,496	3,139,068	1,724,321		776,496	4,863,388	5,639,884	2,299,839	1995	5 - 40
3500 Horizon Drive	King of Prussia, PA	—		1,204,839	—	2,850,802		1,223,875	2,831,766	4,055,641	1,429,538	1996	5 - 40
3600 Horizon Drive	King of Prussia, PA	—		236,432	1,856,252	820,461		236,432	2,676,713	2,913,145	1,331,021	1989	5 - 40
3602 Horizon Drive	King of Prussia, PA	—		217,734	1,759,489	420,954		217,809	2,180,368	2,398,177	1,151,155	1989	5 - 40
3604 Horizon Drive	King of Prussia, PA	—		397,178	—	1,880,505		350,874	1,926,809	2,277,683	1,096,483	1998	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
			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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
440 East Swedesford Road	King of Prussia, PA	—	717,001	4,816,121	2,862,287	717,001	7,678,408	8,395,409	4,371,634	1988	5 - 40
460 East Swedesford Road	King of Prussia, PA	—	705,317	4,737,487	4,307,707	705,317	9,045,194	9,750,511	4,454,376	1988	5 - 40
650 Swedesford Road	King of Prussia, PA	—	952,911	6,722,830	8,131,184	952,911	14,854,014	15,806,925	7,931,558	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	7,457,506	1971	5 - 40
1700 Interstate Drive	Lakeland, FL	—	650,000	5,444,220	—	650,000	5,444,220	6,094,220	608,401	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	4,781,135	2013	5 - 40
11425 State Highway 225	LaPorte, TX	—	975,974	3,409,036	100,699	977,542	3,508,166	4,485,708	996,075	2006	5 - 40
11503 State Highway 225	LaPorte, TX	—	2,561,931	9,695,493	272,748	2,566,047	9,964,125	12,530,172	2,686,659	2006	5 - 40
1701 South 16th St	LaPorte, TX	—	4,063,262	18,719,368	132,035	4,063,262	18,851,403	22,914,665	764,225	2015	5 - 40
1842 South 16th St	LaPorte, TX	—	2,226,284	11,976,185	19,270	2,226,284	11,995,454	14,221,738	513,070	2015	5 - 40
1902 South 16th St	LaPorte, TX	—	2,369,095	14,119,020	—	2,369,095	14,119,020	16,488,115	636,966	2015	5 - 40
640 S State Road 39	Lebanon,IN	—	1,612,787	18,065,552	1,215,412	1,612,787	19,280,964	20,893,751	2,283,155	2013	5 - 40
7528 Walker Way	Lehigh, PA	—	893,441	—	5,643,010	779,330	5,757,121	6,536,451	2,144,171	2004	5 - 40
8301 Industrial Boulevard	Lehigh, PA	—	11,249,550	—	48,850,004	11,254,716	48,844,838	60,099,554	12,795,718	2005	5 - 40
8500 Willard Drive	Lehigh, PA	663,153	6,398,815	—	33,734,013	11,355,974	28,776,854	40,132,828	5,185,360	2004	5 - 40
875 Maxham Road	Lithia Springs, GA	—	445,493	10,160,616	560,063	445,493	10,720,679	11,166,172	1,183,900	2013	5 - 40
8742 Congdon Hill Dr	Lower Macungie, PA	—	22,444,500	20,222,582	—	22,444,500	20,222,582	42,667,082	118,225	2016	5 - 40
7533 Industrial Parkway	Lower Macungie, PA	—	5,603,460	18,807,987	2,632,563	5,603,460	21,440,550	27,044,010	3,905,673	2011	5 - 40
10 Great Valley Parkway	Malvern, PA	—	823,540	1,341,376	247,936	832,244	1,580,608	2,412,852	1,112,039	2003	5 - 40
10 Valley Stream Parkway	Malvern, PA	—	509,075	—	2,699,241	509,899	2,698,417	3,208,316	1,997,432	1984	5 - 40
10, 20 Liberty Boulevard	Malvern, PA	—	724,058	—	5,405,657	724,846	5,404,869	6,129,715	3,502,879	1985	5 - 40
100 Chesterfield Parkway	Malvern, PA	—	1,320,625	—	7,509,345	1,977,935	6,852,035	8,829,970	3,796,493	1998	5 - 40
1001 Cedar Hollow Road	Malvern, PA	—	1,436,814	—	16,828,215	1,676,470	16,588,559	18,265,029	8,745,481	1998	5 - 40
11 Great Valley Parkway	Malvern, PA	—	496,297	—	1,931,329	708,331	1,719,295	2,427,626	1,719,295	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	14,957,645	1986	5 - 40
12,14,16 Great Valley Parkway	Malvern, PA	—	130,689	—	1,329,148	128,767	1,331,070	1,459,837	1,110,861	1982	5 - 40
14 Lee Boulevard	Malvern, PA	—	664,282	—	5,906,244	643,892	5,926,634	6,570,526	4,101,766	1988	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
18 Great Valley Parkway	Malvern, PA	—		394,036	3,976,221	(1,229,407	)	397,293	2,743,557	3,140,850	2,743,556	1980	5 - 40
200 Chesterfield Parkway	Malvern, PA	—		495,893	2,739,093	698,060		812,745	3,120,301	3,933,046	2,640,096	1989	5 - 40
300-400 Chesterfield Parkway	Malvern, PA	—		937,212	—	6,220,320		1,402,795	5,754,737	7,157,532	3,342,758	1988	5 - 40
311 Technology Drive	Malvern, PA	—		397,131	—	2,710,506		397,948	2,709,689	3,107,637	2,301,566	1984	5 - 40
425 Old Morehall Road	Malvern, PA	—		3,847,501	—	45,859,328		9,953,208	39,753,621	49,706,829	2,565,627	2014	5 - 40
45 Liberty Boulevard	Malvern, PA	—		4,380,221	—	15,329,271		4,749,748	14,959,744	19,709,492	8,158,914	1999	5 - 40
50 Morehall Road	Malvern, PA	—		849,576	—	14,101,863		1,337,076	13,614,363	14,951,439	7,454,051	1997	5 - 40
500 Chesterfield Parkway	Malvern, PA	—		472,364	—	3,162,401		762,370	2,872,395	3,634,765	1,895,859	1988	5 - 40
60 Morehall Road	Malvern, PA	—		865,424	9,285,000	5,598,450		884,974	14,863,900	15,748,874	9,949,361	1989	5 - 40
600 Chesterfield Parkway	Malvern, PA	—		2,013,750	—	9,413,146		2,798,565	8,628,331	11,426,896	4,510,096	1999	5 - 40
700 Chesterfield Parkway	Malvern, PA	—		2,013,750	—	9,251,414		2,785,823	8,479,341	11,265,164	4,447,650	1999	5 - 40
1169 Canton Rd	Marietta, GA	—	*	1,232,219	17,897,326	437,586		1,232,219	18,334,912	19,567,131	1,835,793	2013	5 - 40
65 Brookfield Oaks Drive	Mauldin, SC	—		557,174	—	2,856,370		506,318	2,907,226	3,413,544	922,607	2004	5 - 40
75 Brookfield Oaks Drive	Mauldin, SC	—		419,731	—	2,349,647		430,909	2,338,469	2,769,378	751,363	2003	5 - 40
126-132 Liberty Industrial Pkw	McDonough, GA	—		600,666	4,184,131	573,223		600,666	4,757,353	5,358,019	788,235	2013	5 - 40
95-115 Liberty Industrial Pkwy	McDonough, GA	—		660,420	4,785,127	661,518		660,420	5,446,645	6,107,065	829,134	2013	5 - 40
11150 NW 122nd Street	Medley, FL	—		6,627,899	—	12,281,367		6,627,899	12,281,367	18,909,266	331,588	2014	5 - 40
11250 NW 122nd Street	Medley, FL	—		4,798,886	—	9,282,537		4,798,886	9,282,537	14,081,423	223,407	2016	5 - 40
11401 NW 134th Street	Medley, FL	—	*	5,558,619	17,678,237	1,118,286		5,558,619	18,796,523	24,355,142	2,237,448	2013	5 - 40
11450 NW 122nd Street	Medley, FL	—	*	1,623,293	—	11,424,316		3,919,238	9,128,371	13,047,609	461,030	2013	5 - 40
456 International Parkway	Minooka, IL	—		3,862,683	14,357,981	4,591,711		3,862,683	18,949,692	22,812,375	2,034,996	2012	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	1,305,675	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	1,251,816	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	1,802,722	2014	5 - 40
323 Park Knoll Drive	Morrisville, NC	—		1,071,600	4,397,807	1,029,987		1,071,600	5,427,794	6,499,394	1,341,393	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	1,267,257	2007	5 - 40
619 Distribution Drive	Morrisville, NC	—		1,031,430	5,655,167	769,286		1,031,685	6,424,198	7,455,883	1,571,097	2007	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
627 Distribution Drive	Morrisville, NC	—		1,061,370	5,152,110	526,179	1,061,632	5,678,027	6,739,659	1,586,152	2007	5 - 40
701 Distribution Drive	Morrisville, NC	—		1,300,889	5,313,226	223,184	1,301,211	5,536,088	6,837,299	1,402,290	2007	5 - 40
1879 Lamont Avenue	Odenton, MD	—	*	1,976,000	8,099,579	2,067,689	2,011,030	10,132,238	12,143,268	3,242,952	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	3,023,879	2004	5 - 40
4000 E Airport Drive	Ontario, CA	—		2,686,533	10,125,772	560,320	2,686,533	10,686,092	13,372,625	1,134,941	2013	5 - 40
1000 Gills Drive	Orlando, FL	—		415,906	—	2,826,589	435,400	2,807,095	3,242,495	716,623	2006	5 - 40
10003 Satellite Boulevard	Orlando, FL	—		680,312	2,120,754	1,406,213	680,312	3,526,967	4,207,279	1,418,449	2003	5 - 40
10511 & 10611 Satellite Boulevard	Orlando, FL	—		517,554	2,568,186	699,185	522,991	3,261,934	3,784,925	1,605,946	1985	5 - 40
10771 Palm Bay Drive	Orlando, FL	—		664,605	—	2,515,652	685,383	2,494,874	3,180,257	902,836	2001	5 - 40
1090 Gills Drive	Orlando, FL	—		878,320	2,558,833	3,100,835	878,320	5,659,668	6,537,988	1,344,968	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	1,767,649	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	2,237,527	1989	5 - 40
2000 Park Oaks Avenue	Orlando, FL	—	*	913,201	6,818,610	993,299	913,201	7,811,909	8,725,110	872,681	2013	5 - 40
2202 Taft-Vineland Road	Orlando, FL	—		1,283,713	—	7,315,061	1,283,713	7,315,061	8,598,774	2,932,282	2004	5 - 40
2212 Taft Vineland Road	Orlando, FL	—		838,853	—	4,084,540	767,953	4,155,440	4,923,393	1,295,463	2006	5 - 40
2256 Taft-Vineland Road	Orlando, FL	—		467,296	—	2,856,683	825,673	2,498,306	3,323,979	868,515	2005	5 - 40
2351 Investors Row	Orlando, FL	—		2,261,924	7,496,249	2,669,413	2,271,785	10,155,801	12,427,586	3,524,750	2004	5 - 40
2400 South Lake Orange Drive	Orlando, FL	—		385,964	—	3,218,244	642,427	2,961,781	3,604,208	1,311,061	2001	5 - 40
2412 Sand Lake Road	Orlando, FL	—		1,236,819	3,243,314	4,515,655	1,244,667	7,751,121	8,995,788	807,848	2012	5 - 40
2416 Lake Orange Drive	Orlando, FL	—		535,964	—	3,830,045	704,800	3,661,209	4,366,009	1,588,980	2002	5 - 40
6200 Lee Vista Boulevard	Orlando, FL	—		1,435,301	6,174,642	635,186	1,435,301	6,809,828	8,245,129	1,975,783	2006	5 - 40
6501 Lee Vista Boulevard	Orlando, FL	—		903,701	—	5,673,010	925,671	5,651,040	6,576,711	2,176,452	2001	5 - 40
6918 Presidents Drive	Orlando, FL	—		872,550	2,526,043	627,577	872,550	3,153,620	4,026,170	299,246	2012	5 - 40
6923 Lee Vista Boulevard	Orlando, FL	—		903,701	—	3,792,659	830,953	3,865,407	4,696,360	1,262,732	2006	5 - 40
7022 TPC Drive	Orlando, FL	—		1,443,510	6,775,194	585,783	1,457,286	7,347,202	8,804,488	1,922,035	2006	5 - 40
7100 TPC Drive	Orlando, FL	—		1,431,489	8,002,539	799,248	1,445,807	8,787,469	10,233,276	2,397,957	2006	5 - 40
7101 TPC Drive	Orlando, FL	—		1,553,537	5,702,243	591,287	1,570,863	6,276,204	7,847,067	1,599,823	2006	5 - 40
7315 Kingspointe Parkway	Orlando, FL	—		1,931,697	6,388,203	2,903,691	1,932,004	9,291,587	11,223,591	3,677,424	2004	5 - 40
851 Gills Drive	Orlando, FL	—		332,992	—	2,819,927	373,500	2,779,419	3,152,919	678,992	2006	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
950 Gills Drive	Orlando, FL	—		443,989	—	2,909,996	464,800	2,889,185	3,353,985	689,162	2006	5 - 40
9550 Satellite Boulevard	Orlando, FL	—		574,831	—	2,682,249	587,319	2,669,761	3,257,080	1,315,038	1999	5 - 40
9600 Satellite Boulevard	Orlando, FL	—		252,850	1,297,923	185,097	252,850	1,483,020	1,735,870	682,906	1989	5 - 40
9700 Satellite Boulevard	Orlando, FL	—		405,362	1,146,546	417,433	405,362	1,563,979	1,969,341	722,863	1989	5 - 40
1 Crescent Drive	Philadelphia, PA	—		567,280	—	14,836,673	347,892	15,056,061	15,403,953	4,124,088	2004	5 - 40
1200 Intrepid Avenue	Philadelphia, PA	—		404,883	—	8,102,718	127,741	8,379,860	8,507,601	85,391	2015	5 - 40
150 Rouse Boulevard	Philadelphia, PA	—		567,531	—	14,040,200	569,349	14,038,382	14,607,731	1,779,160	2011	5 - 40
201 Rouse Boulevard	Philadelphia, PA	—		243,905	—	22,534,911	449,013	22,329,803	22,778,816	1,353,759	2013	5 - 40
351 Rouse Boulevard	Philadelphia, PA			359,864		16,067,260	367,016	16,060,108	16,427,124	11,605	2015	5 - 40
3 Crescent Drive	Philadelphia, PA	—		214,726	—	22,605,215	417,823	22,402,118	22,819,941	4,108,488	2008	5 - 40
4000 S. 26th Street	Philadelphia, PA	—		1,255,507	—	10,816,115	1,142,358	10,929,264	12,071,622	407,471	2014	5 - 40
4020 S 26th Street	Philadelphia, PA	—		51,784	—	7,165,151	616,467	6,600,468	7,216,935	836,575	2011	5 - 40
4050 S 26th Street	Philadelphia, PA	—		46,301	—	7,163,875	616,670	6,593,506	7,210,176	1,030,380	2011	5 - 40
4300 South 26th Street	Philadelphia, PA	—		402,673	—	34,854,173	413,030	34,843,816	35,256,846	6,615,001	2008	5 - 40
4701 League Island Boulevard	Philadelphia, PA	—		419,107	—	13,298,950	435,763	13,282,294	13,718,057	313,669	2016	5 - 40
4751 League Island Boulevard	Philadelphia, PA	—		992,965	331,924	7,806,820	613,248	8,518,461	9,131,709	2,930,840	2003	5 - 40
4775 League Island Boulevard	Philadelphia, PA	—		891,892	—	5,578,804	366,982	6,103,714	6,470,696	1,468,939	2006	5 - 40
5 Crescent Drive	Philadelphia, PA	—		1,765,341	—	75,231,724	1,897,303	75,099,762	76,997,065	8,129,695	2011	5 - 40
8th & Walnut Streets	Philadelphia, PA	40,061,756		734,275	—	45,366,959	—	46,101,234	46,101,234	3,468,952	2011	5 - 40
2626 South 7th Street	Phoenix, AZ	—		2,519,510	3,798,560	3,444,729	2,519,510	7,243,289	9,762,799	1,365,742	2012	5 - 40
563 South 63rd Avenue	Phoenix, AZ	—		5,523,427	14,581,705	12,199,604	5,636,070	26,668,666	32,304,736	2,283,003	2013	5 - 40
1000 Klein Road	Plano, TX	—		706,660	5,894,330	258,628	706,660	6,152,959	6,859,619	679,107	2013	5 - 40
1901 10th Street	Plano, TX	—	*	555,168	6,401,789	482,432	555,168	6,884,221	7,439,389	816,759	2013	5 - 40
1909 10th Street	Plano, TX	—	*	551,706	5,797,440	259,807	551,706	6,057,247	6,608,953	673,886	2013	5 - 40
3605 East Plano Parkway	Plano, TX	—		1,047,996	9,218,748	1,970,078	1,047,996	11,188,825	12,236,821	1,304,882	2013	5 - 40
3701 East Plano Parkway	Plano, TX	—		877,564	7,460,686	788,731	877,564	8,249,416	9,126,980	855,019	2013	5 - 40
800 Klein Road	Plano, TX	—		580,456	5,681,283	271,634	580,456	5,952,917	6,533,373	648,375	2013	5 - 40
900 Klein Road	Plano, TX	—		723,534	6,004,923	352,138	723,534	6,357,061	7,080,595	755,534	2013	5 - 40
9801 80th Avenue	Pleasant Prairie, WI	—		1,692,077	7,934,794	58,274	1,689,726	7,995,419	9,685,145	3,607,080	1994	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
			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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
14630-14650 28th Avenue North	Plymouth, MN	—	198,205	1,793,422	1,096,872	198,205	2,890,293	3,088,498	1,386,033	1978	5 - 40
2920 Northwest Boulevard	Plymouth, MN	—	392,026	3,433,678	702,745	384,235	4,144,214	4,528,449	1,929,556	1997	5 - 40
5905 Trenton Lane North	Plymouth, MN	—	1,616,360	4,487,462	735,223	1,616,360	5,222,684	6,839,044	651,727	2013	5 - 40
6055 Nathan Lane North	Plymouth, MN	—	1,327,017	4,527,404	580,333	1,327,017	5,107,737	6,434,754	625,825	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	2,761,606	1986	5 - 40
1405 SW 6th Court	Pompano Beach, FL	—	392,138	1,565,787	435,867	392,138	2,001,655	2,393,793	982,366	1985	5 - 40
1500 SW 5th Court	Pompano Beach, FL	—	972,232	3,892,085	912,017	972,232	4,804,102	5,776,334	2,244,165	1957	5 - 40
1501 SW 5th Court	Pompano Beach, FL	—	203,247	811,093	368,976	203,247	1,180,070	1,383,317	560,603	1990	5 - 40
1601 SW 5th Court	Pompano Beach, FL	—	203,247	811,093	208,224	203,247	1,019,318	1,222,565	444,758	1990	5 - 40
1651 SW 5th Court	Pompano Beach, FL	—	203,247	811,093	154,435	203,247	965,529	1,168,776	417,118	1990	5 - 40
2201-2215 NW 30th Place	Pompano Beach, FL	—	1,120,328	3,427,358	135,753	1,120,328	3,563,111	4,683,439	369,499	2013	5 - 40
2250-2270 NW 30th Place	Pompano Beach, FL	—	993,015	2,423,174	132,660	993,015	2,555,834	3,548,849	289,550	2013	5 - 40
2280-2300 NW 30th Place	Pompano Beach, FL	—	906,947	2,157,802	181,920	906,947	2,339,723	3,246,670	289,360	2013	5 - 40
2301-2329 NW 30th Place	Pompano Beach, FL	—	1,268,707	3,079,811	146,245	1,268,707	3,226,056	4,494,763	364,496	2013	5 - 40
3000 NW 25th Avenue	Pompano Beach, FL	—	1,087,554	2,897,117	147,218	1,087,554	3,044,335	4,131,889	357,215	2013	5 - 40
3001-3037 NW 25th Avenue	Pompano Beach, FL	—	1,548,542	3,512,041	322,677	1,548,542	3,834,719	5,383,261	513,606	2013	5 - 40
3012-3050 NW 25th Avenue	Pompano Beach, FL	—	1,112,781	2,763,862	232,584	1,112,781	2,996,445	4,109,226	385,453	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	1,176,745	1984	5 - 40
601 SW 13th Terrace	Pompano Beach, FL	—	164,413	655,933	279,326	164,413	935,259	1,099,672	513,909	1984	5 - 40
605 SW 16th Terrace	Pompano Beach, FL	—	310,778	1,238,324	294,844	310,178	1,533,768	1,843,946	626,437	1965	5 - 40
1920 West Baseline Rd	Rialto, CA	—	9,361,943	17,970,709	453,128	9,411,621	18,374,159	27,785,780	971,239	2014	5-40
301 Hill Carter Parkway	Richmond, VA	—	659,456	4,836,010	159,898	659,456	4,995,908	5,655,364	2,759,090	1989	5 - 40
4101-4127 Carolina Avenue	Richmond, VA	—	310,854	2,279,597	1,895,397	310,854	4,174,994	4,485,848	1,765,252	1973	5 - 40
4201-4261 Carolina Avenue	Richmond, VA	—	693,203	5,083,493	2,058,719	693,203	7,142,212	7,835,415	4,003,398	1975	5 - 40
4263-4299 Carolina Avenue	Richmond, VA	—	256,203	2,549,649	3,008,422	256,203	5,558,071	5,814,274	2,601,653	1976	5 - 40
4263F-N. Carolina Avenue	Richmond, VA	—	91,476	—	1,911,959	91,599	1,911,836	2,003,435	1,008,379	1975	5 - 40
4301-4335 Carolina Avenue	Richmond, VA	—	223,696	1,640,435	3,048,884	223,696	4,689,319	4,913,015	2,044,300	1978	5 - 40
4337-4379 Carolina Avenue	Richmond, VA	—	325,303	2,385,557	1,375,855	325,303	3,761,412	4,086,715	1,774,030	1979	5 - 40
4401-4445 Carolina Avenue	Richmond, VA	—	615,038	4,510,272	484,686	615,038	4,994,958	5,609,996	2,755,220	1988	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
4447-4491 Carolina Avenue	Richmond, VA	—		454,056	2,729,742	514,146	454,056	3,243,888	3,697,944	1,861,413	1987	5 - 40
4501-4549 Carolina Avenue	Richmond, VA	—		486,166	3,565,211	576,623	486,166	4,141,834	4,628,000	2,282,791	1981	5 - 40
4551-4593 Carolina Avenue	Richmond, VA	—		474,360	3,478,646	1,015,357	474,360	4,494,003	4,968,363	2,651,489	1982	5 - 40
4601-4643 Carolina Avenue	Richmond, VA	—		652,455	4,784,675	841,192	652,455	5,625,867	6,278,322	3,287,659	1985	5 - 40
4645-4683 Carolina Avenue	Richmond, VA	—		404,616	2,967,187	662,014	404,616	3,629,201	4,033,817	1,974,801	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	2,938,959	1978	5 - 40
510 Eastpark Court	Richmond, VA	—		261,961	2,110,874	414,799	262,210	2,525,424	2,787,634	1,372,360	1989	5 - 40
520 Eastpark Court	Richmond, VA	—		486,118	4,083,582	716,388	486,598	4,799,490	5,286,088	2,343,100	1989	5 - 40
530 Eastpark Court	Richmond, VA	—		266,883	—	2,621,284	334,772	2,553,395	2,888,167	1,267,264	1999	5 - 40
540 Eastpark Court	Richmond, VA	—		742,300	—	5,428,026	1,066,839	5,103,487	6,170,326	1,155,273	2007	5 - 40
5600-5626 Eastport Boulevard	Richmond, VA	—		489,941	3,592,900	634,581	489,941	4,227,481	4,717,422	2,161,964	1989	5 - 40
5601-5659 Eastport Boulevard	Richmond, VA	—		705,660	—	4,741,770	720,100	4,727,330	5,447,430	2,498,179	1996	5 - 40
5650-5674 Eastport Boulevard	Richmond, VA	—		644,384	4,025,480	353,257	644,384	4,378,737	5,023,121	2,442,189	1990	5 - 40
5700 Eastport Boulevard	Richmond, VA	—		408,729	2,697,348	1,248,269	408,729	3,945,617	4,354,346	2,191,052	1990	5 - 40
5701-5799 Eastport Boulevard	Richmond, VA	—		694,644	—	5,979,622	700,503	5,973,763	6,674,266	2,733,261	1998	5 - 40
5800 Eastport Boulevard	Richmond, VA	—		604,146	—	7,590,970	604,146	7,590,970	8,195,116	195,005	2016	5 - 40
5900 Eastport Boulevard	Richmond, VA	—		676,661	—	4,998,722	687,898	4,987,485	5,675,383	2,620,834	1997	5 - 40
6000 Eastport Blvd	Richmond, VA	—		872,901	—	7,490,092	901,666	7,461,327	8,362,993	1,654,411	1997	5 - 40
6530 Judge Adams Road	Rock Creek, NC	—		305,821	—	4,966,941	335,061	4,937,701	5,272,762	2,292,064	1999	5 - 40
6532 Judge Adams Road	Rock Creek, NC	—		354,903	—	4,029,022	399,988	3,983,937	4,383,925	2,005,118	1997	5 - 40
13098 George Weber Drive	Rogers, MN	—		895,811	6,004,189	342,255	895,811	6,346,444	7,242,255	948,850	2011	5 - 40
13220 Wilfred Lane	Rogers, MN	—		508,532	—	11,072,977	1,396,324	10,185,185	11,581,509	853,976	2014	5 - 40
13225 Brockton Lane	Rogers, MN	—		1,048,093	—	10,464,170	1,066,159	10,446,104	11,512,263	786,204	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	2,699,591	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	1,361,718	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	392,642	2013	5 - 40
5800 Technology Boulevard	Sandston, VA	—		1,741,867	—	12,004,702	1,744,160	12,002,409	13,746,569	125,617	2016	5 - 40
8715 Bollman Place	Savage, MD	—		1,263,237	2,633,210	206,384	1,263,237	2,839,594	4,102,831	311,576	2013	5 - 40
8501 East Raintree Drive	Scottsdale, AZ	—		4,076,412	—	27,621,159	4,115,137	27,582,434	31,697,571	9,367,899	2005	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1150 Gateway Drive	Shakopee, MN	—		1,126,865	5,684,178	7,627		1,126,865	5,691,805	6,818,670	627,756	2012	5 - 40
5555 12th Avenue East	Shakopee, MN	—		887,285	5,321,200	428,118		887,285	5,749,318	6,636,603	739,623	2012	5 - 40
5651 Innovation Boulevard	Shakopee, MN	—		1,551,579	9,541,234	1,143,179		1,552,083	10,683,909	12,235,992	320,481	2015	5 - 40
1210 Champion Way	Sharonville, OH	—		1,337,271	6,135,118	1,053,414		1,337,271	7,188,533	8,525,804	1,180,732	2013	5 - 40
9300 Olde Scotland Road	Shippensburg, PA	—		10,232,633	—	84,537,189		12,933,027	81,836,795	94,769,822	5,969,153	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	1,106,485	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	233,225	2013	5 - 40
3701 Illinois Ave	St. Charles, IL	—		672,500	1,288,924	135,971		672,500	1,424,895	2,097,395	178,406	2013	5 - 40
3950-3980 Swenson Avenue	St. Charles, IL	—		851,080	3,027,753	193,980		851,080	3,221,733	4,072,813	380,779	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	264,247	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	351,694	2013	5 - 40
1551 102nd Avenue North	St. Petersburg, FL	—	*	699,797	5,214,438	1,045,906		699,797	6,260,344	6,960,141	695,362	2013	5 - 40
6900 Harbour View Boulevard	Suffolk, VA	—		904,052	—	8,863,721		807,006	8,960,767	9,767,773	2,548,554	2006	5 - 40
6920 Harbour View Boulevard	Suffolk, VA	—		603,391	—	6,811,340		2,628,635	4,786,096	7,414,731	688,557	2005	5 - 40
6950 Harbour View Blvd	Suffolk, VA	—		929,844	—	6,553,719		794,848	6,688,715	7,483,563	1,988,193	2004	5 - 40
1516 Fryar Avenue	Sumner, WA	—		1,675,402	5,079,543	805,288		1,675,402	5,884,831	7,560,233	794,666	2013	5 - 40
3401-3409 Cragmont Drive	Tampa, FL	—		556,952	3,849,236	4,060		556,952	3,853,296	4,410,248	401,117	2012	5 - 40
3502 Roga Boulevard	Tampa, FL	—		201,600	1,263,131	75,987		201,600	1,339,118	1,540,718	138,245	2012	5 - 40
3505 Cragmont Drive	Tampa, FL	—		936,336	7,155,520	1,313		936,336	7,156,833	8,093,169	815,801	2012	5 - 40
3608 Queen Palm Drive	Tampa, FL	—		650,384	4,764,301	168,709		650,384	4,933,010	5,583,394	533,313	2012	5 - 40
5250 Eagle Trail Drive	Tampa, FL	—		952,860	—	3,664,502		952,860	3,664,502	4,617,362	1,622,450	1998	5 - 40
5501-5519 Pioneer Park Boulevard	Tampa, FL	—		162,000	1,613,000	1,013,160		262,416	2,525,744	2,788,160	1,404,974	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	1,331,285	1979	5 - 40
8110 Anderson Road	Tampa, FL	—		912,663	5,425,143	317,687		912,663	5,742,830	6,655,493	691,053	2012	5 - 40
8130 Anderson Road	Tampa, FL	—		655,668	4,132,076	160,693		655,668	4,292,769	4,948,437	544,050	2012	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	1,340,882	2012	5 - 40
9110 King Palm Drive	Tampa, FL	—		1,203,200	7,979,540	197,450		1,203,200	8,176,990	9,380,190	911,735	2012	5 - 40
9203 King Palm Drive	Tampa, FL	—		754,832	4,966,864	(33,459	)	754,832	4,933,405	5,688,237	569,711	2012	5 - 40
9319 Peach Palm Drive	Tampa, FL	—		612,536	4,168,473	9,700		612,536	4,178,173	4,790,709	444,092	2012	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016	Accumulated Depreciation 12/31/2016	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
9704 Solar Drive	Tampa, FL	—		374,548	1,354,800	775,513		374,548	2,130,313	2,504,861	187,056	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	1,062,618	2013	5 - 40
1850 W. Rio Salado Parkway	Tempe, AZ	—		3,975,600	—	23,088,843		3,975,600	23,088,843	27,064,443	1,035,343	2013	5 - 40
1858 E Encanto Dr	Tempe, AZ	—	*	877,611	4,485,427	310,053		877,611	4,795,480	5,673,091	532,163	2013	5 - 40
1910 W. Rio Salado Parkway	Tempe, AZ	—		4,693,504	—	23,579,039		4,693,504	23,579,039	28,272,543	840,894	2016	5 - 40
2040 W Rio Salado Parkway	Tempe, AZ	—		2,689,302	—	10,201,921		2,633,851	10,257,372	12,891,223	131,584	2015	5 - 40
475 W Vaughn St	Tempe, AZ	—		1,112,245	2,260,348	272,243		1,112,245	2,532,591	3,644,836	329,197	2013	5 - 40
921 South Park Lane	Tempe, AZ	—		1,192,820	1,580,155	480,998		1,192,820	2,061,154	3,253,974	386,618	2011	5 - 40
8313 West Pierce Street	Tolleson, AZ	—		2,295,090	9,079,811	3,531,535		2,295,090	12,611,346	14,906,436	3,862,955	2007	5 - 40
8591 West Washington Street	Tolleson, AZ	—		1,574,912	7,308,021	356,128		1,574,912	7,664,149	9,239,061	970,131	2012	5 - 40
8601 West Washington Street	Tolleson, AZ	—		1,524,603	6,352,070	920,094		1,524,603	7,272,164	8,796,767	1,175,768	2012	5 - 40
5111 S Royal Atlanta Drive	Tucker, GA	—	*	435,776	1,875,685	411,280		435,776	2,286,966	2,722,742	344,804	2013	5 - 40
5151 S Royal Atlanta Drive	Tucker, GA	—	*	345,061	1,428,840	224,775		345,061	1,653,615	1,998,676	273,948	2013	5 - 40
1100 17th Street NW	Washington, DC	—		16,558,660	32,223,978	1,495,642		16,558,660	33,719,620	50,278,280	6,532,221	2011	5 - 40
2100 M Street NW	Washington, DC	—		70,000,000	55,123,783	104,422		70,000,000	55,228,205	125,228,205	7,931,434	2013	5 - 40
400-500 Brandywine Parkway	West Chester, PA	—		845,846	6,809,025	1,042,610		845,846	7,851,635	8,697,481	3,474,894	1988	5 - 40
600 Brandywine Parkway	West Chester, PA	—		664,899	5,352,410	807,914		664,899	6,160,324	6,825,223	2,950,204	1988	5 - 40
1400 Powis Court	West Chicago, IL	—		578,314	2,448,562	73,377		578,314	2,521,939	3,100,253	259,204	2013	5 - 40
1 Kings Hill Avenue	West Malling, UK	—		4,288,389	—	6,874,032		3,089,043	8,073,378	11,162,421	2,233,644	2006	5 - 40
42 Kings Hill Avenue	West Malling, UK	—		5,397,739	—	8,788,645		3,353,552	10,832,832	14,186,384	2,588,491	2005	5 - 40
Liberty Square, Block 1	West Malling, UK	—		159,232	1,622,551	448,417		248,933	1,981,268	2,230,201	584,097	2006	5 - 40
Liberty Square, Block 2	West Malling, UK	—		199,150	1,614,217	474,450		312,301	1,975,516	2,287,817	566,264	2006	5 - 40
Liberty Square, Block 3	West Malling, UK	—		129,830	1,141,141	327,841		202,258	1,396,554	1,598,812	395,755	2006	5 - 40
Liberty Square, Block 5	West Malling, UK	—		71,377	735,993	200,989		109,464	898,895	1,008,359	254,835	2006	5 - 40
29 Liberty Square	West Malling, UK	—		165,363	1,139,928	(89,307	)	154,313	1,061,670	1,215,983	13,602	2016	5 - 40
1400 Northpoint Parkway	West Palm Beach, FL	—	*	2,454,972	5,312,829	376,502		2,454,972	5,689,331	8,144,303	711,830	2013	5 - 40
300 Northpoint Parkway	West Palm Beach, FL	—	*	1,177,064	2,102,451	160,370		1,177,064	2,262,821	3,439,885	272,510	2013	5 - 40
400 Northpoint Parkway	West Palm Beach, FL	—	*	1,029,595	1,728,187	178,025		1,029,595	1,906,212	2,935,807	249,304	2013	5 - 40
2935 West Corporate Lakes Blvd	Weston, FL	—	*	4,682,521	25,905,126	1,345,838		4,682,521	27,250,964	31,933,485	2,533,465	2013	5 - 40
2945 West Corporate Lakes Blvd	Weston, FL	—	*	2,345,242	13,973,766	333,227		2,345,242	14,306,993	16,652,235	1,343,050	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016		Accumulated Depreciation 12/31/2016		Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
43-47 Hintz Road	Wheeling, IL	—		2,051,093		18,283,480		537,835		2,051,093		18,821,316		20,872,409		1,890,597		2013	5 - 40
Subtotal Operating Real Estate		$	55,484,649	$	1,035,528,258	$	2,250,324,535	$	2,310,537,775	$	1,094,469,939	$	4,501,920,629	$	5,596,390,568	$	940,114,836

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016		Accumulated Depreciation 12/31/2016		Date of Construction or Acquisition	Depreciable life (years)
Development Properties
3225 Gravel Springs Road	Buford, GA	—		2,807,020		—		7,988,171		—		10,795,191		10,795,191		—		2015	N/A
3525 Gravel Springs Road	Buford, GA	—		1,391,065		—		5,220,195		—		6,611,260		6,611,260		—		2015	N/A
1951 TW Alexander Drive	Durham, NC	—		1,115,595		—		3,139,353		—		4,254,948		4,254,948		—		2015	N/A
1953 TW Alexander Drive	Durham, NC	—		2,402,820		—		5,406,047		—		7,808,867		7,808,867		—		2015	N/A
1075 King George Post Road	Edison, NJ	—		—		—		8,981,558		—		8,981,558		8,981,558		—		2016	N/A
2988 Green Road	Greer, SC	—		2,271,948		—		3,767,991		—		6,039,939		6,039,939		—		2016	N/A
4485 Premier Drive	High Point, NC	—		1,827,595		—		1,438,892		—		3,266,487		3,266,487		—		2015	N/A
5430 FAA Boulevard	Irving, TX	—		2,245,346		—		9,165,655		—		11,411,001		11,411,001		—		2015	N/A
951 Valleyview Lane	Irving, TX	—		3,899,824		—		13,094,727		—		16,994,551		16,994,551		—		2015	N/A
1200 Claybrick Road	Landover, MD	—		6,876,500		—		7,297,654		—		14,174,154		14,174,154				2016	N/A
1801 South 16th Street	LaPorte, TX	—		3,794,963		—		14,998,448		—		18,793,411		18,793,411		—		2016	N/A
8801 Congdon Hill Drive	Mertztown, PA	—		23,016,646		—		10,368,794		—		33,385,440		33,385,440		—		2016	N/A
11440 NW 122 Street	Miami, FL			5,636,564		—		7,868,985		—		13,505,549		13,505,549		—		2016	N/A
1050 Constitution Avenue	Philadelphia, PA	—		1,969,501		—		14,545,658		—		16,515,159		16,515,159		—		2015	N/A
1200 Intrepid Avenue	Philadelphia, PA	—		404,883		—		18,785,986		—		19,190,869		19,190,869		—		2014	N/A
1500 S 71st Avenue	Phoenix, AZ			4,234,407				594,110		—		4,828,517		4,828,517		—		2016	N/A
7205 W Buckeye Rd	Phoenix, AZ			2,514,425				8,326,405		—		10,840,830		10,840,830		—		2016	N/A
3929 Shutterfly Road	Charlotte, NC			592,233				1,407,692		—		1,999,925		1,999,925		—		2016	N/A
1870 W Rio Salado Parkway	Tempe, AZ			2,272,702				4,551,276		—		6,823,978		6,823,978		—		2016	N/A
1930 W Rio Salado Parkway	Tempe, AZ	—		4,069,890		—		17,940,732		—		22,010,622		22,010,622		—		2015	N/A
2040 W Rio Salado Parkway	Tempe, AZ	—		535,698		—		2,025,217		—		2,560,915		2,560,915		—		2015	N/A
6017 Southern Blvd	West Palm Beach, FL	—		4,513,860		—		7,496,005		—		12,009,865		12,009,865		—		2016	N/A
6035 Southern Blvd	West Palm Beach, FL	—		2,499,894		—		4,511,565		—		7,011,459		7,011,459		—		2016	N/A
Worcester 1	Worcester, UK	—		843,256		—		842,633		—		1,685,889		1,685,889				2016	N/A
Worcester 2	Worcester, UK	—		3,172,249		—		2,777,190		—		5,949,439		5,949,439				2016	N/A
Subtotal Development in Progress		$	—	$	84,908,884	$	—	$	182,540,939	$	—	$	267,449,823	$	267,449,823	$	—

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016		Accumulated Depreciation 12/31/2016		Date of Construction or Acquisition	Depreciable life (years)
LAND HELD FOR DEVELOPMENT
4551 New York Avenue Land	Arlington, TX	$	—	$	4,754,659	$	—	$	974,353		$	5,729,011	$	—	$	5,729,011	$	—	2013	N/A
350 N York Rd	Bensenville, IL			3,043,130		—		256,481			3,299,611		—		3,299,611		—		2016	N/A
Mill Creek Road Land	Bethlehem, PA	—		17,719,400		—		5,023,124			22,742,524		—		22,742,524		—		2012	N/A
180 Dulty's Lane Land	Burlington, NJ			2,866,850		—		14,876			2,881,726		—		2,881,726		—		2016	N/A
Camden Town Center Land	Camden, NJ			11,303,073		—		7,918,928			19,222,001		—		19,222,001		—		2016	N/A
12912 Virkler Drive Land	Charlotte, NC	—		208,646		—		75,122			283,768		—		283,768		—		2010	N/A
Shopton Ridge Business Park Land	Charlotte, NC	—		644,925		—		493,059			1,137,984		—		1,137,984		—		2014	N/A
Mountain Creek Business Park L	Dallas, TX			7,984,928		—		172,493			8,157,421		—		8,157,421		—		2016	N/A
Holly Lane North Land	Dayton, MN	—		889,205		—		192,208			1,081,413		—		1,081,413		—		2014	N/A
French Lake Land	Dayton/Rogers, MN	—		13,513,632		—		5,731,745			19,245,377		—		19,245,377		—		2015	N/A
1951 TW Alexander Drive Land	Durham, NC	—		758,503		—		1,517,278			2,275,781		—		2,275,781		—		2014	N/A
Flying Cloud Drive Land	Eden Prairie, MN	—		2,051,631		—		5,163,382			7,215,013		—		7,215,013		—		2007	N/A
Camelback 303 Business Center Land	Goodyear, AZ	—		16,857,556		—		4,251,564			21,109,120		—		21,109,120		—		2007	N/A
Pleasant Ridge Road Land	Greensboro, NC	—		564,535		—		2,936,254			3,500,789		—		3,500,789		—		2006	N/A
Caliber Ridge Ind. Park Land	Greer, SC	—		16,338		—		43,899			60,237		—		60,237		—		2007	N/A
Ridge Road & Hanover Road Land	Hanover, MD	—		3,875,203		—		716,672			4,591,875		—		4,591,875		—		2012	N/A
Arundel Ridge Land	Hanover, MD	—		3,371,183		—		(583,888		)	2,787,295		—		2,787,295		—		2008	N/A
Interwood Land	Houston, TX	—		5,160,668		—		27,267			5,187,935		—		5,187,935		—		2012	N/A
Rankin Road Land	Houston, TX	—		5,756,865		—		3,891,085			9,647,950		—		9,647,950		—		2007	N/A
Richey Road Land	Houston, TX	—		26,135,466		—		7,533,750			33,669,216		—		33,669,216		—		2014	N/A
Taub Beltway 8 Land	Houston, TX	—		4,611,474		—		2,317,825			6,929,299		—		6,929,299		—		2012	N/A
Frye Road and Valley View Lane Land	Irving, TX	—		1,917,440		—		668,084			2,585,524		—		2,585,524		—		2014	N/A
Rouse Kent Limited	Kent, UK	—		—		—		11,145,627			11,145,627		—		11,145,627		—		2012	N/A
Port Crossing Commerce Center Land	La Porte, TX	—		18,896,380		—		2,089,507			20,985,887		—		20,985,887		—		2015	N/A
Commodore Business Park	Logan, NJ	—		792,118		—		1,436,192			2,228,310		—		2,228,310		—		1995	N/A
Spring Creek Land	Lower Macungie Twp, PA	—		26,735,346		—		8,428,952			35,164,298		—		35,164,298		—		2013	N/A
380 Old Morehall Road	Malvern, PA	—		1,344,809		—		—			1,344,809		—		1,344,809		—		2012	N/A

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2016
				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 12/31/2016		Accumulated Depreciation 12/31/2016		Date of Construction or Acquisition	Depreciable life (years)
LAND HELD FOR DEVELOPMENT
6 Great Valley Parkway Land	Malvern, PA	—		603,050		—		2,299,866		2,902,916		—		2,902,916		—		2015	N/A
Old Morehall Rd Land (Morelli)	Malvern, PA			3,343,863		—		31,220		3,375,083		—		3,375,083		—		2016	N/A
Quarry Ridge Land	Malvern, PA	—		675,499		—		297,170		972,669		—		972,669		—		2001	N/A
Miami International Tradeport Land	Medley, FL	—		10,811,686		—		15,276,884		26,088,570		—		26,088,570		—		2011	N/A
557 Nazareth Pike Land	Nazareth, PA	—		4,667,646		—		490,247		5,157,893		—		5,157,893		—		2013	N/A
Beachline Industrial Park Land	Orlando, FL	—		267,468		—		221,948		489,416		—		489,416		—		2004	N/A
Southern Boulevard Land	Palm Beach County, FL	—		8,051,351		—		4,574,886		12,626,237		—		12,626,237		—		2014	N/A
Buckeye Logistics Center West Land	Phoenix, AZ	—		6,173,841		—		1,405,210		7,579,051		—		7,579,051		—		2013	N/A
Redlands Land	San Bernadino, CA			4,040,825		—		420,399		4,461,224		—		4,461,224		—		2016	N/A
Woodlands Center Land	Sandston, VA	—		148,314		—		21,430		169,744		—		169,744		—		1996	N/A
Northsight Land	Scottsdale, AZ	—		6,176,464		—		2,175,590		8,352,054		—		8,352,054		—		2005	N/A
Suffolk Land	Suffolk, VA	—		2,715,714		—		813,055		3,528,769		—		3,528,769		—		2006	N/A
6119 W. Linebaugh Avenue	Tampa, FL	—		180,136		—		30,098		210,234		—		210,234		—		2000	N/A
Legacy Park Land	Tampa, FL	—		3,289,423		—		3,155,681		6,445,104		—		6,445,104		—		2006	N/A
Subtotal Land Held for Development		$	—	$	232,919,243	$	—	$	103,649,523	$	336,568,765	$	—	$	336,568,765	$	—
Total All Properties		$	51,071,036	$	1,353,356,385	$	2,250,324,535	$	2,596,728,236	$	1,431,038,704	$	4,769,370,452	$	6,200,409,156	$	940,114,836

* Denotes property is collateralized under mortgages with Athene, New York Life and Wells Fargo totaling $218.8 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,
	2016			2015			2014
REAL ESTATE:
Balance at beginning of year	$	7,014,490		$	7,074,558		$	6,704,262
Additions	472,282			562,299			602,585
Disposition of property	(1,286,362		)	(622,367		)	(232,289		)
Balance at end of year	$	6,200,410		$	7,014,490		$	7,074,558
ACCUMULATED DEPRECIATION:
Balance at beginning of year	$	1,148,928		$	1,182,129		$	1,051,340
Depreciation expense	168,077			182,011			179,143
Disposition of property	(376,890		)	(215,212		)	(48,354		)
Balance at end of year	$	940,115		$	1,148,928		$	1,182,129