Schedule III

12 Months Ended

Dec. 31, 2017

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, 2017
				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 12/31/2017		Accumulated Depreciation 12/31/2017		Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1467 Perryman Road	Aberdeen, MD	$	—	$	12,052,635	$	—	$	35,353,684	$	12,334,030	$	35,072,289	$	47,406,319	$	3,266,781	2014	5 - 40
1501 Perryman Road	Aberdeen, MD	—		5,813,324		18,874,059		6,381,862		5,816,839		25,252,406		31,069,245		7,510,366		2005	5 - 40
869 S Route 53	Addison, IL	—		1,194,223		4,201,881		85,733		1,194,223		4,287,615		5,481,838		553,871		2013	5 - 40
901 S Route 53	Addison, IL	—		2,055,066		5,984,093		880,440		2,055,066		6,864,533		8,919,599		964,359		2013	5 - 40
8620 Congdon Hill Drive	Alburtis, PA	—		38,328,000		—		36,639,297		38,328,000		36,639,297		74,967,297		1,625,979		2015	5 - 40
200 Boulder Drive	Allentown, PA	—		4,722,683		18,922,645		967,059		4,722,683		19,889,704		24,612,387		6,690,719		2004	5 - 40
250 Boulder Drive	Allentown, PA	—		3,599,936		12,099,145		2,200,244		3,717,733		14,181,592		17,899,325		5,557,571		2004	5 - 40
400 Nestle Way	Allentown, PA	—		8,065,500		—		29,708,283		8,184,096		29,589,687		37,773,783		15,721,633		1997	5 - 40
650 Boulder Drive	Allentown, PA	—		5,208,248		—		32,432,054		9,961,788		27,678,514		37,640,302		10,591,886		2002	5 - 40
651 Boulder Drive	Allentown, PA	—		4,308,646		—		17,846,386		4,308,646		17,846,386		22,155,032		9,669,809		2000	5 - 40
700 Nestle Way	Allentown, PA	—		3,473,120		—		20,307,750		4,174,970		19,605,900		23,780,870		11,018,939		1998	5 - 40
705 Boulder Drive	Allentown, PA	—		10,594,027		—		28,815,711		10,596,767		28,812,971		39,409,738		15,981,798		2001	5 - 40
7165 Ambassador Drive	Allentown, PA	—		792,999		—		4,694,984		804,848		4,683,135		5,487,983		2,146,445		2002	5 - 40
7248 Industrial Boulevard	Allentown, PA	—		2,670,849		13,307,408		4,629,975		2,670,673		17,937,559		20,608,232		9,398,129		1988	5 - 40
7339 Industrial Boulevard	Allentown, PA	—		1,187,776		—		7,592,938		1,197,447		7,583,267		8,780,714		4,174,870		1996	5 - 40
7437 Industrial Boulevard	Allentown, PA	—		717,488		5,022,413		3,450,291		726,651		8,463,540		9,190,191		5,460,929		1976	5 - 40
8014 Industrial Boulevard	Allentown, PA	—		4,019,258		—		11,192,116		3,645,117		11,566,257		15,211,374		5,409,248		1999	5 - 40
8150 Industrial Boulevard	Allentown, PA	—		2,564,167		—		9,480,757		2,571,466		9,473,458		12,044,924		3,917,347		2002	5 - 40
8250 Industrial Boulevard	Allentown, PA	—		1,025,667		—		5,255,168		1,035,854		5,244,981		6,280,835		1,966,477		2002	5 - 40
8400 Industrial Boulevard	Allentown, PA	—		6,725,948		—		27,404,693		7,521,211		26,609,430		34,130,641		8,076,494		2005	5 - 40
6330 Hedgewood Drive	Allentown, PA	—		531,268		—		6,075,126		532,047		6,074,347		6,606,394		4,051,848		1988	5 - 40
6350 Hedgewood Drive	Allentown, PA	—		360,027		—		4,526,417		560,691		4,325,753		4,886,444		2,607,549		1989	5 - 40
6370 Hedgewood Drive	Allentown, PA	—		540,795		—		4,121,409		541,459		4,120,745		4,662,204		2,579,828		1990	5 - 40
6390 Hedgewood Drive	Allentown, PA	—		707,203		—		3,372,168		707,867		3,371,504		4,079,371		1,929,807		1990	5 - 40
6520 Stonegate Drive	Allentown, PA	—		453,315		—		1,571,738		484,361		1,540,692		2,025,053		713,180		1996	5 - 40
6540 Stonegate Drive	Allentown, PA	—		422,042		—		5,337,554		422,730		5,336,866		5,759,596		3,119,448		1988	5 - 40
6560 Stonegate Drive	Allentown, PA	—		458,281		—		3,856,829		458,945		3,856,165		4,315,110		2,331,497		1989	5 - 40
6580 Snowdrift Road	Allentown, PA	—		388,328		—		4,877,166		389,081		4,876,413		5,265,494		3,220,831		1988	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
7620 Cetronia Road	Allentown, PA	—		1,091,806	3,851,456	446,341		1,093,724	4,295,879	5,389,603	2,379,820	1990	5 - 40
3095 Presidential Drive	Atlanta, GA	—		200,351	1,729,161	254,912		200,351	1,984,073	2,184,424	342,828	2013	5 - 40
3097 Presidential Drive	Atlanta, GA	—		188,680	1,721,048	377,679		188,680	2,098,727	2,287,407	252,522	2013	5 - 40
7030 Buford Highway NE	Atlanta, GA	—	*	919,850	4,051,340	938,092		919,850	4,989,432	5,909,282	864,963	2013	5 - 40
Barton 150	Barton Under Needwood, UK	—		2,196,955	13,643,981	(2,911,461	)	1,793,045	11,136,430	12,929,475	1,423,910	2013	5 - 40
1055-1071 Kingsland Drive	Batavia, IL	—		727,294	2,367,529	686,813		727,294	3,054,342	3,781,636	517,875	2013	5 - 40
4606 Richlynn Drive	Belcamp, MD	—		299,600	1,818,861	722,992		299,600	2,541,853	2,841,453	1,167,850	1985	5 - 40
11800 Baltimore Avenue	Beltsville,MD	—		2,769,962	1,829,028	257,575		2,663,725	2,192,841	4,856,566	392,541	2013	5 - 40
11850 Baltimore Avenue	Beltsville,MD	—		3,595,044	2,415,132	164,695		3,457,162	2,717,709	6,174,871	621,879	2013	5 - 40
11900 Baltimore Avenue	Beltsville,MD	—		3,492,036	2,024,038	521,421		3,358,104	2,679,391	6,037,495	673,883	2013	5 - 40
12104 Indian Creek Court	Beltsville,MD	—		2,021,752	2,503,802	301,581		2,021,752	2,805,383	4,827,135	632,738	2013	5 - 40
12200 Indian Creek Court	Beltsville,MD	—		1,347,882	1,460,291	624,034		1,347,882	2,084,325	3,432,207	374,847	2013	5 - 40
12240 Indian Creek Court	Beltsville,MD	—		1,479,307	2,159,997	791,326		1,479,307	2,951,324	4,430,631	491,902	2013	5 - 40
1071 Thorndale Avenue	Bensenville,IL	—		2,173,006	2,280,788	279,995		2,016,715	2,717,074	4,733,789	487,001	2013	5 - 40
1260-1274 Ellis Street	Bensenville,IL	—	*	2,298,560	4,020,382	360,477		2,298,560	4,380,859	6,679,419	753,050	2013	5 - 40
371-377 Meyer Road	Bensenville,IL	—	*	1,903,423	3,563,953	581,985		1,903,423	4,145,938	6,049,361	646,670	2013	5 - 40
850-880 Devon Ave	Bensenville,IL	—	*	2,958,756	7,959,013	780,767		2,958,756	8,739,780	11,698,536	1,397,398	2013	5 - 40
10 Emery Street	Bethlehem, PA	—		5,591,216	32,941,818	8,086,723		8,947,574	37,672,183	46,619,757	4,444,772	2014	5 - 40
2785 Commerce Center Boulevard	Bethlehem, PA	—		11,961,623	—	46,710,814		12,009,985	46,662,452	58,672,437	5,682,988	2011	5 - 40
1455 Remington Boulevard	Bolingbrook, IL	—		2,501,294	10,704,719	2,027		2,501,294	10,706,746	13,208,040	1,443,812	2012	5 - 40
150 E Crossroads Parkway	Bolingbrook, IL	—	*	3,078,949	14,143,377	1,304,570		3,078,949	15,447,947	18,526,896	2,279,751	2013	5 - 40
553 S Joliet Ave	Bolingbrook, IL	—	*	3,764,831	15,109,947	2,608,351		3,764,831	17,718,298	21,483,129	2,927,857	2013	5 - 40
400 Boulder Drive	Breinigsville, PA	—		2,859,106	—	12,523,348		2,865,575	12,516,879	15,382,454	3,591,183	2003	5 - 40
8201 Industrial Boulevard	Breinigsville, PA	—		2,089,719	—	9,254,674		2,222,168	9,122,225	11,344,393	2,117,229	2006	5 - 40
8451 Willard Drive	Breinigsville, PA	—		8,752,708	—	40,892,454		11,511,499	38,133,663	49,645,162	11,459,148	2007	5 - 40
860 Nestle Way	Breinigsville, PA	—		8,118,881	18,885,486	7,523,072		8,118,881	26,408,558	34,527,439	10,705,203	2004	5 - 40
3525 Gravel Springs Road	Buford, GA	—		1,391,065	—	5,767,546		1,629,677	5,528,934	7,158,611	81,499	2015	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
3535 Gravel Springs Road	Buford, GA	—		2,807,020	—	9,348,803	3,077,350	9,078,473	12,155,823	85,572	2015	5 - 40
1485 Dennison Circle	Carlisle, PA	—		4,249,868	13,886,039	2,345,375	4,095,262	16,386,020	20,481,282	6,860,959	2004	5 - 40
40 Logistics Drive	Carlisle, PA	—		7,981,850	—	33,019,624	8,081,272	32,920,202	41,001,474	5,205,564	2011	5 - 40
135-195 East Elk Trail	Carol Stream, IL	—		4,873,094	12,430,320	2,711,700	4,873,094	15,142,020	20,015,114	1,653,950	2013	5 - 40
515 Kehoe Boulevard	Carol Stream, IL	—		5,523,427	14,581,705	1,018,131	5,523,427	15,599,836	21,123,263	1,794,650	2013	5 - 40
1413 Bradley Lane	Carrollton, TX	—	*	247,477	2,028,322	83,692	247,477	2,112,014	2,359,491	335,971	2013	5 - 40
3200 Belmeade Drive	Carrollton, TX	—		1,042,453	8,027,974	545,748	1,042,453	8,573,722	9,616,175	1,203,243	2013	5 - 40
16325 S Avalon Blvd	Carson, CA	—		26,432,369	19,669,675	288,256	26,432,369	19,957,931	46,390,300	90,391	2017	5 - 40
1475 Nitterhouse Dr	Chambersburg, PA	—		7,081,007	39,002,011	2,094,847	7,081,007	41,096,858	48,177,865	6,065,304	2013	5 - 40
95 Kriner Road	Chambersburg, PA	—		8,695,501	—	35,060,794	9,407,871	34,348,424	43,756,295	9,231,761	2006	5 - 40
9000 109th Street	Champlin, MN	—		1,251,043	11,662,995	120,863	1,251,043	11,783,858	13,034,901	2,132,475	2011	5 - 40
11701 Goodrich Drive	Charlotte, NC	—		2,054,621	6,356,151	630,877	2,054,621	6,987,027	9,041,648	1,347,806	2013	5 - 40
12810 Virkler Drive	Charlotte, NC	—		475,368	2,367,586	882,005	476,262	3,248,696	3,724,958	563,666	2010	5 - 40
2700 Hutchison McDonald Road	Charlotte, NC	—		912,500	4,721,259	346,813	912,500	5,068,072	5,980,572	917,487	2011	5 - 40
2701 Hutchison McDonald Road	Charlotte, NC	—		1,275,000	4,649,750	646,264	1,275,000	5,296,014	6,571,014	985,434	2011	5 - 40
2730 Hutchison McDonald Road	Charlotte, NC	—		1,878,750	10,129,499	33,298	1,878,750	10,162,797	12,041,547	1,712,638	2011	5 - 40
2801 Hutchison McDonald Road	Charlotte, NC	—		1,065,000	6,975,250	650,916	1,065,000	7,626,166	8,691,166	1,243,976	2011	5 - 40
3000 Crosspoint Center Lane	Charlotte, NC	—		1,831,250	10,779,412	1,101,098	1,831,250	11,880,510	13,711,760	2,074,452	2011	5 - 40
3005 Crosspoint Center Lane	Charlotte, NC	—		1,990,000	6,561,540	1,169,814	1,990,000	7,731,354	9,721,354	1,329,779	2011	5 - 40
4045 Perimeter West Drive	Charlotte, NC	—		1,418,928	7,511,050	632,664	1,418,928	8,143,714	9,562,642	1,414,308	2011	5 - 40
4047 Perimeter West Drive	Charlotte, NC	—		1,279,004	—	6,399,609	1,279,004	6,399,609	7,678,613	1,083,916	2011	5 - 40
4525 Statesville Road	Charlotte, NC	—		841,250	5,279,315	317,199	837,144	5,600,620	6,437,764	958,955	2011	5 - 40
4835 Sirona Drive	Charlotte, NC	3,315,149		690,750	5,086,388	133,402	690,750	5,219,790	5,910,540	763,314	2012	5 - 40
4925 Sirona Drive	Charlotte, NC	3,339,557		603,003	4,969,011	147,245	603,003	5,116,256	5,719,259	829,242	2012	5 - 40
5032 Sirona Drive	Charlotte, NC	—		1,416,763	—	9,031,057	1,416,763	9,031,057	10,447,820	469,576	2015	5 - 40
5033 Sirona Drive	Charlotte, NC	2,845,006		509,247	4,710,218	183,930	613,962	4,789,433	5,403,395	756,635	2012	5 - 40
5039 Sirona Drive	Charlotte, NC	—		1,027,500	6,172,807	63,150	1,027,500	6,235,957	7,263,457	512,634	2014	5 - 40
8910 Pioneer Avenue	Charlotte, NC	—		527,873	4,959,206	360,851	527,873	5,320,057	5,847,930	814,596	2011	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
8916 Pioneer Avenue	Charlotte, NC	—		557,730	5,785,333	534,333		557,730	6,319,666	6,877,396	1,149,035	2011	5 - 40
8924 Pioneer Avenue	Charlotte, NC	—		654,713	5,365,823	(57,050	)	654,713	5,308,773	5,963,486	135,996	2016	5 - 40
2601 Indian River Road	Chesapeake, VA	—	*	1,711,746	10,418,032	494,065		1,711,746	10,912,097	12,623,843	1,619,711	2013	5 - 40
1540 S 54th Avenue	Cicero, IL	—		3,540,236	20,130,552	930,603		3,540,236	21,061,155	24,601,391	3,002,292	2013	5 - 40
4650 Lake Forest Drive	Cincinnati, OH	—		1,030,242	4,003,024	365,499		1,030,242	4,368,522	5,398,764	700,153	2013	5 - 40
4750 Lake Forest Drive	Cincinnati, OH	—		1,138,166	5,914,789	230,664		1,138,166	6,145,453	7,283,619	938,347	2013	5 - 40
9645 Gerwig Lane	Columbia, MD	—		1,915,960	6,461,228	322,982		1,915,960	6,784,210	8,700,170	1,097,619	2013	5 - 40
2550 John Glenn Avenue	Columbus, OH	—		540,601	5,129,342	1,072,989		540,601	6,202,331	6,742,932	823,054	2013	5 - 40
3800 Twin Creeks Drive	Columbus, OH	—		549,393	4,643,302	497,947		549,393	5,141,249	5,690,642	735,305	2013	5 - 40
330 South Royal Lane	Coppell, TX	—		2,091,426	—	11,407,128		2,091,426	11,407,128	13,498,554	876,255	2014	5 - 40
455 Airline Drive	Coppell, TX	—	*	312,701	2,311,531	489,922		312,701	2,801,453	3,114,154	475,079	2013	5 - 40
2130 Baldwin Avenue	Crofton, MD	—		3,172,032	7,350,782	419,529		3,172,032	7,770,311	10,942,343	1,188,917	2013	5 - 40
11020 Holly Lane	Dayton, MN	—		2,536,731	—	12,722,576		2,536,731	12,722,576	15,259,307	475,069	2016	5 - 40
329-333 Herrod Blvd	Dayton, NJ	—	*	4,039,559	20,863,051	2,286,868		4,039,559	23,149,919	27,189,478	3,326,807	2013	5 - 40
1250 Hall Court	Deer Park, TX	—		829,570	4,778,327	121,291		831,611	4,897,577	5,729,188	1,442,762	2006	5 - 40
333 Howard Avenue	Des Plaines, IL	—		7,928,724	—	14,264,248		7,928,724	14,264,248	22,192,972	832,239	2016	5 - 40
1680 Executive Drive	Duluth, GA	—		1,928,412	4,651,819	617,290		1,928,412	5,269,109	7,197,521	1,077,104	2013	5 - 40
1700 Executive Drive	Duluth, GA	—		1,082,072	2,496,599	573,982		1,082,072	3,070,581	4,152,653	621,884	2013	5 - 40
2670 Breckinridge Blvd	Duluth, GA	—		1,676,415	4,567,592	927,539		1,676,415	5,495,132	7,171,547	878,785	2013	5 - 40
170 Parkway West	Duncan, SC	—		598,348	3,643,756	573,870		598,918	4,217,056	4,815,974	1,316,005	2006	5 - 40
190 Parkway West	Duncan, SC	—		551,663	3,310,993	251,604		552,211	3,562,048	4,114,259	1,067,706	2006	5 - 40
265 Parkway East	Duncan, SC	—		901,444	5,751,389	193,675		902,374	5,944,134	6,846,508	2,077,614	2006	5 - 40
285 Parkway East	Duncan, SC	—		975,433	5,851,990	525,729		976,393	6,376,759	7,353,152	1,901,005	2006	5 - 40
1000 Parliament Court	Durham, NC	—		2,229,000	7,064,506	792,599		2,229,000	7,857,105	10,086,105	791,102	2014	5 - 40
4226 Surles Court	Durham, NC	—		1,440,000	7,932,265	289,576		1,440,000	8,221,841	9,661,841	954,792	2014	5 - 40
4227 Surles Court	Durham, NC	—		1,500,000	5,624,030	235,182		1,500,000	5,859,211	7,359,211	534,911	2014	5 - 40
4234 Surles Court	Durham, NC	—		1,440,000	7,356,161	(78,204	)	1,440,000	7,277,957	8,717,957	768,425	2014	5 - 40
4300 Emperor Center	Durham, NC	—		1,576,500	4,240,961	5,859		1,576,500	4,246,820	5,823,320	424,518	2014	5 - 40
1951 TW Alexander Drive	Durham, NC	—		1,115,595	—	3,618,500		1,324,734	3,409,361	4,734,095	68,813	2015	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1953 TW Alexander Drive	Durham, NC	—		2,402,820	—	6,583,503		2,853,273	6,133,050	8,986,323	103,698	2015	5 - 40
1957 TW Alexander Drive	Durham, NC	—		1,844,943	—	7,946,981		3,091,046	6,700,878	9,791,924	206,273	2015	5 - 40
3169 Dodd Road	Eagan, MN	—		988,594	6,586,907	394,649		988,594	6,981,556	7,970,150	1,123,900	2012	5 - 40
3711 Kennebec Drive	Eagan, MN	—		999,702	4,042,589	(2,670	)	999,702	4,039,919	5,039,621	721,854	2011	5 - 40
917 Lone Oak Road	Eagan, MN	—	*	1,493,115	6,120,455	976,663		1,493,115	7,097,118	8,590,233	1,159,254	2013	5 - 40
10301-10305 West 70th Street	Eden Prairie, MN	—		120,622	1,085,226	310,448		118,300	1,397,996	1,516,296	699,145	1984	5 - 40
10321 West 70th Street	Eden Prairie, MN	—		145,198	1,305,700	616,746		142,399	1,925,245	2,067,644	968,278	1984	5 - 40
10333 West 70th Street	Eden Prairie, MN	—		110,746	995,868	285,918		108,610	1,283,922	1,392,532	656,683	1984	5 - 40
10349-10357 West 70th Street	Eden Prairie, MN	—		275,903	2,481,666	954,195		270,584	3,441,180	3,711,764	1,842,058	1985	5 - 40
10365-10375 West 70th Street	Eden Prairie, MN	—		291,077	2,618,194	1,585,889		285,464	4,209,696	4,495,160	1,900,290	1985	5 - 40
10393-10394 West 70th Street	Eden Prairie, MN	—		269,618	2,423,318	2,527,379		264,419	4,955,896	5,220,315	2,194,769	1985	5 - 40
7075 Flying Cloud Drive	Eden Prairie, MN	—		10,232,831	10,855,851	4,057,532		9,967,306	15,178,907	25,146,213	3,578,639	2007	5 - 40
7078 Shady Oak Road	Eden Prairie, MN	—		343,093	3,085,795	1,624,923		336,481	4,717,330	5,053,811	2,636,995	1985	5 - 40
1 Truman Drive South	Edison, NJ	—		27,862,573	19,426,947	703,083		27,862,573	20,130,030	47,992,603	19,993	2017	5 - 40
2250 Arthur Avenue	Elk Grove, IL	—		1,403,196	2,386,396	149,289		1,403,196	2,535,685	3,938,881	392,856	2013	5 - 40
6600 Business Parkway	Elkridge, MD	—		3,680,220	14,671,910	703,042		3,680,220	15,374,952	19,055,172	1,968,894	2013	5 - 40
6675 Business Parkway	Elkridge, MD	—	*	2,421,854	9,730,192	695,870		2,421,854	10,426,062	12,847,916	1,338,178	2013	5 - 40
7351 Coca Cola Drive	Elkridge, MD	—		1,897,044	—	7,419,134		3,023,417	6,292,761	9,316,178	1,996,209	2006	5 - 40
21705-21707 Mississippi Street	Elwood, IL	—		10,594,259	30,329,802	1,557,857		10,594,259	31,887,660	42,481,919	5,256,343	2011	5 - 40
27143 Elwood International Port Road	Elwood, IL	—		6,022,000	5,612,934	587,921		6,022,000	6,200,855	12,222,855	1,087,835	2011	5 - 40
1800 Donaldson Road	Erlanger, KY	—		—	13,211,604	762,210		—	13,973,814	13,973,814	3,972,728	2011	5 - 40
6880 Fairfield Drive	Fairfield, OH	—		412,136	3,029,177	146,616		412,136	3,175,793	3,587,929	450,893	2013	5 - 40
7000-7018 Fairfield Business	Fairfield, OH	—		367,925	2,205,817	177,833		386,928	2,364,647	2,751,575	325,215	2013	5 - 40
10721 Jasmine Street	Fontana, CA	—		11,427,061	23,784,779	3,739,838		11,427,061	27,524,617	38,951,678	1,817,042	2015	5 - 40
2000 Southpointe Dr	Forest Park, GA	—		756,221	9,115,626	662,099		756,221	9,777,725	10,533,946	1,464,610	2013	5 - 40
1400 NW 65th Place	Fort Lauderdale, FL	—		545,480	2,540,210	86,121		545,480	2,626,331	3,171,811	341,109	2013	5 - 40
6500 NW 12th Avenue	Fort Lauderdale, FL	—		—	3,064,734	521,736		—	3,586,470	3,586,470	540,454	2013	5 - 40
6501 NW 12th Avenue	Fort Lauderdale, FL	—		519,984	2,677,465	312,381		519,984	2,989,846	3,509,830	346,270	2013	5 - 40
6600 NW 12th Avenue	Fort Lauderdale, FL	—		—	2,988,181	267,630		—	3,255,811	3,255,811	505,594	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
11222 Melrose Avenue	Franklin Park, IL	—		2,999,106	4,658,605	104,074		2,999,106	4,762,679	7,761,785	292,028	2016	5 - 40
9601 Cosner Drive	Fredericksburg, VA	—		475,262	3,917,234	387,315		475,262	4,304,549	4,779,811	2,372,215	1995	5 - 40
5410 - 5430 Northwest 33rd Avenue	Ft. Lauderdale, FL	—		603,776	4,176,238	1,990,114		625,111	6,145,017	6,770,128	3,281,803	1985	5 - 40
12601 Industry Street	Garden Grove, CA	—		2,048,143	1,088,697	70,611		2,048,143	1,159,308	3,207,451	276,355	2013	5 - 40
12641 Industry Street	Garden Grove, CA	—		3,766,822	2,539,214	133,026		3,766,822	2,672,240	6,439,062	408,964	2013	5 - 40
12681-12691 Pala Drive	Garden Grove, CA	—		5,221,102	3,225,596	83,715		5,220,148	3,310,265	8,530,413	359,715	2014	5 - 40
850 S Jupiter Road	Garland, TX	—		799,707	6,122,065	506,894		799,707	6,628,959	7,428,666	1,005,200	2013	5 - 40
2510 W Main Street	Grand Prairie, TX	—	*	1,785,741	11,158,818	1,677,983		1,785,741	12,836,801	14,622,542	2,144,063	2013	5 - 40
4251 North Highway 121	Grapevine, TX	—	*	1,165,780	7,799,270	422,871		1,165,780	8,222,140	9,387,920	1,322,370	2013	5 - 40
1150 Pleasant Ridge Road	Greensboro, NC	—		1,547,811	—	14,336,534		3,712,683	12,171,662	15,884,345	2,930,846	2006	5 - 40
25 Brookfield Oaks Drive	Greenville, SC	—		288,823	3,441,512	(60,552	)	288,823	3,380,960	3,669,783	386,571	2014	5 - 40
45 Brookfield Oaks Drive	Greenville, SC	—		818,114	—	4,737,211		825,529	4,729,796	5,555,325	1,273,122	2006	5 - 40
2011 Southtech Drive	Greenwood, IN	—		223,702	3,574,142	348,881		223,702	3,923,023	4,146,725	673,141	2013	5 - 40
2121 Southtech Drive	Greenwood, IN	—		272,823	3,606,920	425,631		272,823	4,032,552	4,305,375	868,917	2013	5 - 40
800 Commerce Parkway West Dr	Greenwood, IN	—		1,374,664	29,963,830	2,112,538		1,374,664	32,076,368	33,451,032	4,662,009	2013	5 - 40
110 Caliber Ridge Dr	Greer, SC	—		555,549	—	6,339,922		1,241,531	5,653,940	6,895,471	472,790	2014	5 - 40
120 Caliber Ridge Dr	Greer, SC	—		1,243,100	—	6,603,603		1,255,751	6,590,952	7,846,703	516,447	2016	5 - 40
130 Caliber Ridge Dr	Greer, SC	—		1,171,160	—	6,045,497		1,183,811	6,032,846	7,216,657	326,307	2016	5 - 40
140 Caliber Ridge Drive	Greer, SC	—		1,243,100	—	6,460,810		1,255,751	6,448,159	7,703,910	594,631	2013	5 - 40
2988 Green Road	Greer, SC	—		2,271,948	—	6,598,421		2,095,033	6,775,336	8,870,369	56,411	2016	5 - 40
125 Caliber Ridge Drive	Greer, SC	—		464,237	—	5,840,213		1,311,956	4,992,494	6,304,450	1,143,185	2007	5 - 40
2727 London Groveport Road	Groveport, OH	—		1,875,607	11,937,935	1,594,848		1,875,607	13,532,783	15,408,390	2,154,022	2013	5 - 40
11835 Newgate Boulevard	Hagerstown, MD	—		14,121,622	—	23,024,333		14,121,622	23,024,333	37,145,955	2,135,910	2014	5 - 40
11841 Newgate Boulevard	Hagerstown, MD	—		3,356,207	—	30,679,055		9,741,685	24,293,577	34,035,262	6,578,678	2008	5 - 40
1560 Hunter Road	Hanover Park, IL	—	*	2,639,734	12,310,741	1,072,313		2,639,734	13,383,054	16,022,788	1,884,363	2013	5 - 40
1575 Hunter Road	Hanover Park, IL	—	*	3,293,284	17,235,926	1,174,459		3,293,284	18,410,385	21,703,669	2,655,120	2013	5 - 40
7361 Coca Cola Drive	Hanover, MD	—		2,245,187	—	9,668,306		3,822,710	8,090,783	11,913,493	1,741,059	2004	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
			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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
7460 New Ridge Road	Hanover, MD	—	3,785,446	—	8,128,924		3,796,023	8,118,347	11,914,370	587,264	2013	5 - 40
7462 New Ridge Road	Hanover, MD	—	4,059,337	—	7,491,548		4,070,629	7,480,256	11,550,885	511,893	2013	5 - 40
500 McCarthy Drive	Harrisburg, PA	—	5,194,872	19,991,436	5,020,100		5,687,013	24,519,395	30,206,408	9,042,285	2005	5 - 40
600 Industrial Drive	Harrisburg, PA	—	7,743,800	—	27,803,943		9,368,557	26,179,186	35,547,743	7,808,361	2005	5 - 40
7195 Grayson Road	Harrisburg, PA	—	464,534	6,066,272	251,813		464,534	6,318,085	6,782,619	850,896	2013	5 - 40
7253 Grayson Road	Harrisburg, PA	—	954,130	10,585,367	583,272		954,130	11,168,639	12,122,769	1,466,551	2013	5 - 40
12537 Cerise Avenue	Hawthorne, CA	—	2,203,194	5,758,809	1,461,971		2,203,194	7,220,780	9,423,974	728,059	2013	5 - 40
1010 Petersburg Road	Hebron, KY	—	305,471	5,434,505	(819,546	)	305,471	4,614,959	4,920,430	729,928	2013	5 - 40
785 Lindbergh Court	Hebron, KY	—	401,410	3,087,899	511,831		401,410	3,599,730	4,001,140	851,287	2013	5 - 40
805 Lindbergh Court	Hebron, KY	—	292,096	2,502,486	163,832		292,096	2,666,317	2,958,413	460,511	2013	5 - 40
825 Lindbergh Court	Hebron, KY	—	370,149	3,095,116	435,793		370,149	3,530,910	3,901,059	599,942	2013	5 - 40
845 Lindbergh Court	Hebron, KY	—	444,318	3,811,889	316,672		444,318	4,128,561	4,572,879	666,370	2013	5 - 40
4198 Eagle Hill Drive	High Point, NC	—	94,274	—	6,276,671		791,880	5,579,065	6,370,945	1,621,575	2005	5 - 40
4183 Eagle Hill Drive	High Point, NC	—	122,203	—	3,214,906		526,266	2,810,843	3,337,109	1,311,124	2001	5 - 40
4189 Eagle Hill Drive	High Point, NC	—	100,106	—	3,584,103		431,106	3,253,103	3,684,209	1,652,112	2001	5 - 40
4193 Eagle Hill Drive	High Point, NC	—	107,586	—	3,391,727		505,700	2,993,613	3,499,313	968,743	2004	5 - 40
4328, 4336 Federal Drive	High Point, NC	—	521,122	—	5,624,655		825,092	5,320,685	6,145,777	2,596,135	1995	5 - 40
4344 Federal Drive	High Point, NC	—	484,001	—	3,152,416		173,623	3,462,794	3,636,417	1,866,989	1996	5 - 40
4380 Federal Drive	High Point, NC	—	282,996	—	2,209,713		283,368	2,209,341	2,492,709	1,199,039	1997	5 - 40
4388 Federal Drive	High Point, NC	—	143,661	—	1,214,818		132,655	1,225,824	1,358,479	653,753	1997	5 - 40
4475 Premier Drive	High Point, NC	—	748,693	—	6,806,962		1,525,421	6,030,234	7,555,655	1,429,865	2006	5 - 40
4485 Premier Drive	High Point, NC	—	1,827,595	—	6,507,936		1,827,595	6,507,936	8,335,531	174,125	2015	5 - 40
4500 Green Point Drive	High Point, NC	—	230,622	—	2,757,316		231,692	2,756,246	2,987,938	1,618,070	1989	5 - 40
4501 Green Point Drive	High Point, NC	—	319,289	—	3,133,118		320,450	3,131,957	3,452,407	1,976,183	1989	5 - 40
4523 Green Point Drive	High Point, NC	—	234,564	—	3,319,368		235,698	3,318,234	3,553,932	2,236,810	1988	5 - 40
4524 Green Point Drive	High Point, NC	—	182,810	—	2,838,325		183,888	2,837,247	3,021,135	1,804,718	1989	5 - 40
Unit 5 Logix Road	Hinckley, UK	—	10,547,677	29,691,911	(7,396,097	)	8,608,489	24,235,002	32,843,491	3,350,056	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1000 South Loop West	Houston, TX	—	*	509,351	3,549,504	938,122	509,351	4,487,626	4,996,977	835,033	2013	5 - 40
10241 W Little York Rd	Houston, TX	—		558,491	5,740,552	139,500	558,491	5,880,052	6,438,543	753,250	2013	5 - 40
10245 W Little York Rd	Houston, TX	—		426,927	3,460,513	380,296	426,927	3,840,809	4,267,736	795,963	2013	5 - 40
10301 Round Up Lane	Houston, TX	—		545,501	2,927,700	961,929	545,501	3,889,628	4,435,129	585,432	2010	5 - 40
10305 Round Up Lane	Houston, TX	—		1,340,609	7,489,720	2,951,546	1,340,609	10,441,265	11,781,874	2,361,657	2010	5 - 40
1050 Greens Parkway	Houston, TX	—		973,482	—	3,531,792	992,093	3,513,181	4,505,274	252,833	2013	5 - 40
10607 Haddington Drive	Houston, TX	—	*	201,469	1,631,561	132,748	201,469	1,764,310	1,965,779	282,662	2013	5 - 40
10735 West Little York Road	Houston, TX	—		1,110,988	6,351,946	3,147,449	1,135,483	9,474,900	10,610,383	3,426,368	2000	5 - 40
10739 West Little York Road	Houston, TX	—		797,931	5,950,894	339,014	799,560	6,288,279	7,087,839	2,419,437	1999	5 - 40
11201 Greens Crossing Boulevard	Houston, TX	—		1,006,194	5,412,584	2,620,073	1,008,542	8,030,309	9,038,851	2,509,545	2007	5 - 40
11220 Ella Boulevard	Houston, TX	—		1,505,855	—	7,417,101	1,534,644	7,388,312	8,922,956	529,511	2013	5 - 40
1283 N Post Oak Rd	Houston, TX	—	*	80,730	870,656	145,557	80,730	1,016,213	1,096,943	178,472	2013	5 - 40
1287 N Post Oak Rd	Houston, TX	—	*	146,654	1,620,780	55,679	146,654	1,676,458	1,823,112	280,919	2013	5 - 40
1291 N Post Oak Rd	Houston, TX	—	*	510,102	4,129,042	586,888	510,102	4,715,930	5,226,032	757,450	2013	5 - 40
1416 N Sam Houston Parkway E	Houston, TX	—	*	218,850	1,639,902	558,311	218,850	2,198,212	2,417,062	407,593	2013	5 - 40
1420 N Sam Houston Parkway E	Houston, TX	—	*	211,279	1,554,156	262,982	211,279	1,817,138	2,028,417	253,509	2013	5 - 40
14200 Hollister Road	Houston, TX	—		1,396,794	—	4,960,376	1,699,632	4,657,538	6,357,170	658,529	2011	5 - 40
1424 N Sam Houston Parkway E	Houston, TX	—	*	283,107	2,077,323	413,088	283,107	2,490,411	2,773,518	377,599	2013	5 - 40
1428 N Sam Houston Parkway E	Houston, TX	—	*	367,446	1,952,453	461,116	367,446	2,413,568	2,781,014	323,367	2013	5 - 40
14300 Hollister Road	Houston, TX	—	*	1,377,193	—	5,680,144	1,405,899	5,651,438	7,057,337	677,019	2014	5 - 40
14400 Hollister Road	Houston, TX	—	*	1,830,419	—	7,240,317	1,861,540	7,209,196	9,070,736	1,763,306	2012	5 - 40
15102 Sommermeyer St	Houston, TX	—		755,121	3,155,774	247,670	755,121	3,403,444	4,158,565	585,277	2013	5 - 40
15150 Sommermeyer St	Houston, TX	—		418,580	1,564,587	246,785	418,580	1,811,372	2,229,952	320,777	2013	5 - 40
16330 Central Green Boulevard	Houston, TX	—		1,540,109	—	8,529,156	1,966,472	8,102,793	10,069,265	824,138	2014	5 - 40
16405 Air Center Boulevard	Houston, TX	—		438,853	3,030,396	932,746	438,853	3,963,142	4,401,995	1,923,396	1997	5 - 40
16420 West Hardy Road	Houston, TX	—		529,876	3,267,872	405,454	529,876	3,673,326	4,203,202	603,596	2013	5 - 40
16445 Air Center Boulevard	Houston, TX	—		363,339	2,509,186	332,364	363,339	2,841,550	3,204,889	1,391,813	1997	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1646 Rankin Road	Houston, TX	—		329,961	—	5,128,643	592,234	4,866,370	5,458,604	1,625,011	2005	5 - 40
1655 Townhurst Drive	Houston, TX	—	*	197,226	935,036	528,775	197,226	1,463,811	1,661,037	331,956	2013	5 - 40
16580 Air Center Boulevard	Houston, TX	—		289,000	3,559,857	1,318,020	289,000	4,877,878	5,166,878	2,054,844	1997	5 - 40
16602 Central Green Boulevard	Houston, TX	—		284,403	—	5,462,115	503,779	5,242,739	5,746,518	1,629,717	2005	5 - 40
16605 Air Center Boulevard	Houston, TX	—		298,999	—	3,424,045	496,186	3,226,858	3,723,044	1,272,564	2002	5 - 40
1665 Townhurst Drive	Houston, TX	—	*	452,439	2,016,585	532,837	452,439	2,549,421	3,001,860	340,160	2013	5 - 40
16680 Central Green Boulevard	Houston, TX	—		311,952	—	3,714,436	492,869	3,533,519	4,026,388	863,726	2001	5 - 40
16685 Air Center Boulevard	Houston, TX	—		414,691	—	2,455,433	414,691	2,455,433	2,870,124	820,383	2004	5 - 40
1755 Trans Central Drive	Houston, TX	—		293,534	3,036,269	1,254,342	306,147	4,277,998	4,584,145	1,661,466	1999	5 - 40
4301 S Pinemont Dr	Houston, TX	—	*	226,973	1,174,979	142,669	226,973	1,317,648	1,544,621	279,123	2013	5 - 40
4401 S Pinemont Dr	Houston, TX	—	*	244,240	1,412,622	164,426	244,240	1,577,048	1,821,288	322,106	2013	5 - 40
4501 S Pinemont Dr	Houston, TX	—	*	252,907	1,504,053	106,793	252,907	1,610,846	1,863,753	223,579	2013	5 - 40
5200 N. Sam Houston Parkway	Houston, TX	—		1,519,458	7,135,548	3,704,347	1,520,074	10,839,279	12,359,353	3,591,298	2007	5 - 40
5250 N. Sam Houston Parkway	Houston, TX	—		2,173,287	8,868,256	2,845,225	2,173,942	11,712,826	13,886,768	2,982,334	2007	5 - 40
5500 N. Sam Houston Parkway West	Houston, TX	—		1,243,541	—	6,356,567	1,513,152	6,086,956	7,600,108	1,284,483	2011	5 - 40
8017 Pinemont Drive	Houston, TX	—		900,953	5,323,727	442,546	900,953	5,766,273	6,667,226	756,953	2013	5 - 40
8272 El Rio Street	Houston, TX	—	*	530,494	4,108,626	302,930	530,494	4,411,556	4,942,050	669,352	2013	5 - 40
8282 El Rio Street	Houston, TX	—	*	450,422	3,304,942	1,085,091	450,422	4,390,033	4,840,455	770,811	2013	5 - 40
8301 Fallbrook Drive	Houston, TX	—		4,515,862	—	26,996,308	7,083,514	24,428,656	31,512,170	6,261,457	2006	5 - 40
8303 Fallbrook Drive	Houston, TX	—		4,613,370	—	16,413,097	4,858,863	16,167,604	21,026,467	998,943	2013	5 - 40
850 Greens Parkway	Houston, TX	—		2,893,405	11,593,197	2,915,414	2,899,861	14,502,154	17,402,015	3,779,158	2007	5 - 40
860 Greens Parkway	Houston, TX	—		1,399,365	6,344,650	1,637,084	1,374,012	8,007,087	9,381,099	2,105,831	2007	5 - 40
8801-19 & 8821-49 Fallbrook Drive	Houston, TX	—		2,290,001	15,297,141	4,097,089	2,290,002	19,394,229	21,684,231	6,703,077	2000	5 - 40
8802-8824 Fallbrook Drive	Houston, TX	—		2,774,995	6,364,767	2,050,563	2,775,021	8,415,303	11,190,324	2,583,641	2004	5 - 40
8825-8839 N Sam Houston Pkwy	Houston, TX	—		638,453	3,258,815	740,807	638,477	3,999,597	4,638,074	1,428,818	2004	5 - 40
8850-8872 Fallbrook Drive	Houston, TX	—		504,317	2,878,351	1,952,678	504,341	4,831,005	5,335,346	1,740,453	2004	5 - 40
16200 Central Green Blvd	Houston, TX	—		1,748,348	—	9,342,218	2,120,319	8,970,247	11,090,566	1,448,476	2012	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
5430 FAA Boulevard	Irving, TX	—		2,245,346	—	11,190,939		3,198,031	10,238,254	13,436,285	101,529	2015	5 - 40
951 Valleyview Lane	Irving, TX	—		3,899,824	—	14,284,349		5,554,903	12,629,270	18,184,173	225,454	2015	5 - 40
Cabot III UK1B01	Isle of Man, UK	—		11,888,058	35,003,668	(8,785,443	)	9,702,442	28,403,841	38,106,283	3,449,692	2013	5 - 40
1011 N Hilltop Drive	Itasca, IL	—		842,043	984,087	206,081		842,043	1,190,168	2,032,211	190,943	2013	5 - 40
1035 N Hilltop Drive	Itasca, IL	—		875,172	2,071,051	125,154		875,172	2,196,206	3,071,378	291,896	2013	5 - 40
1549 W Glenlake Avenue	Itasca, IL	—		1,339,627	3,763,288	197,452		1,339,627	3,960,739	5,300,366	559,334	2013	5 - 40
901 N Hilltop Drive	Itasca, IL	—		866,378	2,112,616	47,981		866,378	2,160,597	3,026,975	272,326	2013	5 - 40
925 N Hilltop Drive	Itasca, IL	—		945,251	2,010,181	47,544		945,251	2,057,725	3,002,976	257,674	2013	5 - 40
8241 Sandy Court	Jessup, MD	—		1,246,618	6,844,393	1,272,078		1,246,618	8,116,470	9,363,088	1,105,430	2013	5 - 40
8242 Sandy Court	Jessup, MD	—		1,488,746	9,072,440	1,482,236		1,488,746	10,554,676	12,043,422	1,556,327	2013	5 - 40
8246 Sandy Court	Jessup, MD	—		590,922	3,374,522	466,278		590,922	3,840,800	4,431,722	452,630	2013	5 - 40
1305 Chastain Road NW	Kennesaw, GA	—	*	808,159	5,712,959	1,092,163		808,159	6,805,122	7,613,281	1,171,981	2013	5 - 40
1325 Chastain Road NW	Kennesaw, GA	—	*	1,612,924	9,771,680	1,602,887		1,612,924	11,374,567	12,987,491	2,161,272	2013	5 - 40
3600 Cobb International Bld NW	Kennesaw, GA	—		716,860	6,962,212	620,396		716,860	7,582,609	8,299,469	1,236,095	2013	5 - 40
Unit 1 Bear Way	Kettering, UK	—		10,849,890	36,219,855	(8,632,899	)	8,855,141	29,581,705	38,436,846	3,855,300	2013	5 - 40
650 Swedesford Road	King of Prussia, PA	—		464,382	6,722,830	312,687		464,382	7,035,517	7,499,899	3,807,524	2013	5 - 40
680 Swedesford Road	King of Prussia, PA	—		952,361	6,722,830	7,218,586		952,361	13,941,416	14,893,777	7,812,014	1971	5 - 40
1770 Interstate Drive	Lakeland, FL	—		650,000	5,444,220	436		650,000	5,444,656	6,094,656	746,367	2012	5 - 40
1200 Claybrick Road	Landover,MD	—		6,876,500	—	5,392,716		4,997,416	7,271,800	12,269,216	122,940	2016	5 - 40
5801 Columbia Park Road	Landover,MD	—		1,187,620	4,598,346	122,220		1,187,620	4,720,566	5,908,186	4,720,184	2013	5 - 40
11425 State Highway 225	LaPorte, TX	—		975,974	3,409,036	100,980		977,542	3,508,447	4,485,989	1,095,249	2006	5 - 40
11503 State Highway 225	LaPorte, TX	—		2,561,931	9,695,493	276,527		2,566,047	9,967,904	12,533,951	2,946,740	2006	5 - 40
1701 South 16th St	LaPorte, TX	—		4,063,262	18,719,368	339,178		4,063,262	19,058,546	23,121,808	1,326,243	2015	5 - 40
1801 South 16th Street	LaPorte, TX	—		3,794,963	—	24,116,063		5,421,262	22,489,764	27,911,026	48,880	2016	5 - 40
1842 South 16th St	LaPorte, TX	—		2,226,284	11,976,185	20,231		2,226,284	11,996,415	14,222,699	904,697	2015	5 - 40
1902 South 16th St	LaPorte, TX	—		2,369,095	14,119,020	1,131		2,369,095	14,120,151	16,489,246	1,118,950	2015	5 - 40
640 S State Road 39	Lebanon,IN	—		1,612,787	18,065,552	1,219,356		1,612,787	19,284,908	20,897,695	3,004,444	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
7528 Walker Way	Lehigh, PA	—		893,441	—	5,712,528		779,330	5,826,639	6,605,969	2,282,849	2004	5 - 40
8301 Industrial Boulevard	Lehigh, PA	—		11,249,550	—	49,196,411		11,254,716	49,191,245	60,445,961	14,179,681	2005	5 - 40
8500 Willard Drive	Lehigh, PA	—		6,398,815	—	33,823,153		11,355,974	28,865,994	40,221,968	6,248,053	2004	5 - 40
8742 Congdon Hill Dr	Lower Macungie, PA	—		22,444,500	20,222,582	1,171,671		22,444,500	21,394,253	43,838,753	941,498	2016	5 - 40
7533 Industrial Parkway	Lower Macungie, PA	—		5,603,460	18,807,987	1,860,270		5,603,460	20,668,257	26,271,717	3,672,813	2011	5 - 40
10 Great Valley Parkway	Malvern, PA	—		823,540	1,341,376	248,078		832,244	1,580,750	2,412,994	1,425,276	2003	5 - 40
100 Chesterfield Parkway	Malvern, PA	—		1,320,625	—	7,423,695		1,891,736	6,852,584	8,744,320	3,942,208	1998	5 - 40
1001 Cedar Hollow Road	Malvern, PA	—		1,436,814	—	17,007,048		1,676,470	16,767,392	18,443,862	9,118,790	1998	5 - 40
12,14,16 Great Valley Parkway	Malvern, PA	—		130,689	—	1,329,277		128,767	1,331,199	1,459,966	1,195,890	1982	5 - 40
14 Lee Boulevard	Malvern, PA	—		664,282	—	5,976,172		643,892	5,996,562	6,640,454	4,257,492	1988	5 - 40
18 Great Valley Parkway	Malvern, PA	—		394,036	3,976,221	(1,229,185	)	397,293	2,743,779	3,141,072	2,743,556	1980	5 - 40
311 Technology Drive	Malvern, PA	—		397,131	—	2,710,751		397,948	2,709,934	3,107,882	2,514,676	1984	5 - 40
425 Old Morehall Road	Malvern, PA	—		3,847,501	—	45,862,512		9,953,208	39,756,805	49,710,013	3,688,031	2014	5 - 40
50 Morehall Road	Malvern, PA	—		849,576	—	14,132,756		1,337,076	13,645,256	14,982,332	7,765,736	1997	5 - 40
60 Morehall Road	Malvern, PA	—		865,424	9,285,000	1,476,443		884,974	10,741,893	11,626,867	6,133,475	1989	5 - 40
600 Chesterfield Parkway	Malvern, PA	—		2,013,750	—	9,308,073		2,695,891	8,625,932	11,321,823	4,702,546	1999	5 - 40
700 Chesterfield Parkway	Malvern, PA	—		2,013,750	—	9,147,731		2,683,149	8,478,332	11,161,481	4,633,824	1999	5 - 40
1169 Canton Rd	Marietta, GA	—	*	1,232,219	17,897,326	439,054		1,232,219	18,336,380	19,568,599	2,404,742	2013	5 - 40
65 Brookfield Oaks Drive	Mauldin, SC	—		557,174	—	2,605,186		506,318	2,656,042	3,162,360	469,821	2004	5 - 40
75 Brookfield Oaks Drive	Mauldin, SC	—		419,731	—	2,360,850		430,909	2,349,672	2,780,581	811,157	2003	5 - 40
126-132 Liberty Industrial Pkw	McDonough, GA	—		600,666	4,184,131	573,605		600,666	4,757,735	5,358,401	1,011,099	2013	5 - 40
95-115 Liberty Industrial Pkwy	McDonough, GA	—		660,420	4,785,127	1,752,845		660,420	6,537,972	7,198,392	1,005,026	2013	5 - 40
11150 NW 122nd Street	Medley, FL	—		6,627,899	—	12,263,754		6,627,899	12,263,754	18,891,653	638,054	2014	5 - 40
11250 NW 122nd Street	Medley, FL	—		4,798,886	—	9,229,788		4,798,886	9,229,788	14,028,674	442,152	2016	5 - 40
11401 NW 134th Street	Medley, FL	—	*	5,558,619	17,678,237	980,129		5,558,619	18,658,366	24,216,985	2,703,407	2013	5 - 40
11450 NW 122nd Street	Medley, FL	—	*	1,623,293	—	11,366,493		3,919,238	9,070,548	12,989,786	661,827	2013	5 - 40
11440 NW 122 Street	Miami, FL	—		5,636,564	—	10,787,507		5,944,709	10,479,362	16,424,071	135,226	2016	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
456 International Parkway	Minooka, IL	—		3,862,683	14,357,981	4,629,086	3,862,683	18,987,067	22,849,750	2,656,638	2012	5 - 40
21 S Middlesex Avenue	Monroe Township, NJ	—	*	2,097,170	9,715,401	562,568	2,097,170	10,277,969	12,375,139	1,693,385	2013	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
4 S Middlesex Avenue	Monroe Township, NJ	—	*	2,263,153	10,261,759	1,026,738	2,263,153	11,288,497	13,551,650	1,657,916	2013	5 - 40
230 Moonachie Ave	Moonachie, NJ	—		4,031,058	2,775,467	45,946	4,031,058	2,821,413	6,852,471	36,357	2017	5 - 40
250 Moonachie Ave	Moonachie, NJ	—		10,435,430	7,272,539	131,978	10,435,430	7,404,517	17,839,947	96,404	2017	5 - 40
22750 Cactus Avenue	Moreno Valley, CA	—		9,404,283	24,380,934	1,853,966	9,408,276	26,230,907	35,639,183	2,458,100	2014	5 - 40
323 Park Knoll Drive	Morrisville, NC	—		1,071,600	4,397,807	1,030,423	1,071,600	5,428,230	6,499,830	1,560,466	2010	5 - 40
324 Park Knoll Drive	Morrisville, NC	—		1,449,092	4,424,932	330,650	1,449,450	4,755,224	6,204,674	1,398,371	2007	5 - 40
619 Distribution Drive	Morrisville, NC	—		1,031,430	5,655,167	769,814	1,031,685	6,424,726	7,456,411	1,793,552	2007	5 - 40
627 Distribution Drive	Morrisville, NC	—		1,061,370	5,152,110	384,204	1,061,632	5,536,052	6,597,684	1,524,610	2007	5 - 40
1775 Hillcrest Rd	Norcross, GA	—		1,318,956	4,379,239	351	1,318,956	4,379,590	5,698,546	—	2017	5 - 40
1879 Lamont Avenue	Odenton, MD	—	*	1,976,000	8,099,579	2,067,394	2,011,030	10,131,943	12,142,973	3,497,401	2004	5 - 40
350 Winmeyer Avenue	Odenton, MD	—		1,778,400	7,289,165	1,702,845	1,809,927	8,960,483	10,770,410	2,799,293	2004	5 - 40
4000 E Airport Drive	Ontario, CA	—		2,686,533	10,125,772	658,692	2,686,533	10,784,464	13,470,997	1,483,811	2013	5 - 40
1000 Gills Drive	Orlando, FL	—		415,906	—	2,711,665	435,400	2,692,171	3,127,571	702,354	2006	5 - 40
10003 Satellite Boulevard	Orlando, FL	—		680,312	2,120,754	1,351,516	680,312	3,472,270	4,152,582	1,492,523	2003	5 - 40
10511 & 10611 Satellite Boulevard	Orlando, FL	—		517,554	2,568,186	701,878	522,991	3,264,627	3,787,618	1,701,375	1985	5 - 40
10771 Palm Bay Drive	Orlando, FL	—		664,605	—	2,515,852	685,383	2,495,074	3,180,457	969,898	2001	5 - 40
1090 Gills Drive	Orlando, FL	—		878,320	2,558,833	3,837,116	878,320	6,395,949	7,274,269	1,496,145	2003	5 - 40
1600-1650 Central Florida Parkway	Orlando, FL	—		518,043	2,561,938	966,443	518,043	3,528,381	4,046,424	1,887,708	1962	5 - 40
1902 Cypress Lake Drive	Orlando, FL	—		523,512	3,191,790	1,529,900	538,512	4,706,690	5,245,202	2,379,793	1989	5 - 40
2000 Park Oaks Avenue	Orlando, FL	—	*	913,201	6,818,610	993,925	913,201	7,812,535	8,725,736	1,131,776	2013	5 - 40
2202 Taft-Vineland Road	Orlando, FL	—		1,283,713	—	7,315,647	1,283,713	7,315,647	8,599,360	3,147,459	2004	5 - 40
2212 Taft Vineland Road	Orlando, FL	—		838,853	—	4,084,873	767,953	4,155,773	4,923,726	1,408,619	2006	5 - 40
2256 Taft-Vineland Road	Orlando, FL	—		467,296	—	2,856,883	825,673	2,498,506	3,324,179	965,372	2005	5 - 40
2351 Investors Row	Orlando, FL	—		2,261,924	7,496,249	1,892,529	2,271,785	9,378,917	11,650,702	3,062,843	2004	5 - 40
2400 South Lake Orange Drive	Orlando, FL	—		385,964	—	3,247,268	642,427	2,990,805	3,633,232	1,441,537	2001	5 - 40
2412 Sand Lake Road	Orlando, FL	—		1,236,819	3,243,314	4,569,481	1,244,667	7,804,947	9,049,614	1,078,475	2012	5 - 40
2416 Lake Orange Drive	Orlando, FL	—		535,964	—	3,817,081	704,800	3,648,245	4,353,045	1,848,025	2002	5 - 40
6200 Lee Vista Boulevard	Orlando, FL	—		1,435,301	6,174,642	701,669	1,435,301	6,876,311	8,311,612	2,236,259	2006	5 - 40
6989 Lee Vista Boulevard	Orlando, FL	—		903,701	—	5,673,463	925,671	5,651,493	6,577,164	2,321,511	2001	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
6918 Presidents Drive	Orlando, FL	—		872,550	2,526,043	738,036	872,550	3,264,079	4,136,629	407,627	2012	5 - 40
6923 Lee Vista Boulevard	Orlando, FL	—		903,701	—	3,394,043	830,953	3,466,791	4,297,744	911,447	2006	5 - 40
7022 TPC Drive	Orlando, FL	—		1,443,510	6,775,194	666,574	1,457,286	7,427,993	8,885,279	2,162,331	2006	5 - 40
7100 TPC Drive	Orlando, FL	—		1,431,489	8,002,539	1,221,160	1,445,807	9,209,381	10,655,188	2,510,571	2006	5 - 40
7101 TPC Drive	Orlando, FL	—		1,553,537	5,702,243	635,492	1,570,863	6,320,409	7,891,272	1,789,479	2006	5 - 40
7315 Kingspointe Parkway	Orlando, FL	—		1,931,697	6,388,203	2,921,391	1,932,004	9,309,287	11,241,291	3,939,705	2004	5 - 40
851 Gills Drive	Orlando, FL	—		332,992	—	2,800,846	373,500	2,760,338	3,133,838	717,909	2006	5 - 40
950 Gills Drive	Orlando, FL	—		443,989	—	2,817,379	464,800	2,796,568	3,261,368	664,304	2006	5 - 40
9550 Satellite Boulevard	Orlando, FL	—		574,831	—	2,690,726	587,319	2,678,238	3,265,557	1,422,420	1999	5 - 40
9700 Satellite Boulevard	Orlando, FL	—		252,850	1,297,923	185,218	252,850	1,483,141	1,735,991	744,969	1989	5 - 40
9600 Satellite Boulevard	Orlando, FL	—		405,362	1,146,546	451,093	405,362	1,597,639	2,003,001	775,969	1989	5 - 40
1 Crescent Drive	Philadelphia, PA	—		567,280	—	15,193,253	347,892	15,412,641	15,760,533	4,588,553	2004	5 - 40
3 Crescent Drive	Philadelphia, PA	—		214,726	—	24,170,214	417,823	23,967,117	24,384,940	4,631,085	2008	5 - 40
1200 Intrepid Avenue	Philadelphia, PA	—		404,883	—	29,737,547	455,507	29,686,923	30,142,430	548,890	2015	5 - 40
150 Rouse Blvd	Philadelphia, PA	—		567,531	—	14,215,415	569,349	14,213,597	14,782,946	2,222,385	2011	5 - 40
201 Rouse Blvd	Philadelphia, PA	—		243,905	—	22,536,140	449,013	22,331,032	22,780,045	2,045,156	2013	5 - 40
351 Rouse Blvd	Philadelphia, PA	—		359,864	—	16,741,665	367,016	16,734,513	17,101,529	468,293	2015	5 - 40
4000 South 26th Street	Philadelphia, PA	—		1,255,507	—	10,817,040	1,142,358	10,930,189	12,072,547	789,639	2014	5 - 40
4020 South 26th Street	Philadelphia, PA	—		51,784	—	7,165,713	616,467	6,601,030	7,217,497	1,042,441	2011	5 - 40
4050 South 26th Street	Philadelphia, PA	—		46,301	—	7,164,435	616,670	6,594,066	7,210,736	1,278,766	2011	5 - 40
4300 South 26th Street	Philadelphia, PA	—		402,673	—	34,857,088	413,030	34,846,731	35,259,761	7,526,028	2008	5 - 40
4701 League Island Boulevard	Philadelphia, PA	—		419,107	—	13,301,142	435,763	13,284,486	13,720,249	688,698	2016	5 - 40
4751 League Island Boulevard	Philadelphia, PA	—		992,965	331,924	7,830,302	613,248	8,541,943	9,155,191	3,262,455	2003	5 - 40
4775 League Island Blvd.	Philadelphia, PA	—		891,892	—	5,579,310	366,982	6,104,220	6,471,202	1,639,085	2006	5 - 40
8th & Walnut Streets	Philadelphia, PA	38,446,743	*	734,275	—	45,400,360	—	46,134,635	46,134,635	4,515,020	2011	5 - 40
2626 South 7th Street	Phoenix, AZ	—		2,519,510	3,798,560	3,685,037	2,519,510	7,483,597	10,003,107	1,336,897	2012	5 - 40
563 South 63rd Avenue	Phoenix, AZ	—		5,523,427	14,581,705	12,213,826	5,636,070	26,682,888	32,318,958	3,051,216	2013	5 - 40
1500 S 71st Avenue	Phoenix, AZ	—		4,234,407	—	10,162,853	3,333,729	11,063,531	14,397,260	155,768	2016	5 - 40
7205 W Buckeye Rd	Phoenix, AZ	—		2,514,425	—	10,725,015	2,514,425	10,725,015	13,239,440	155,365	2016	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1000 Klein Road	Plano, TX	—		706,660	5,894,330	221,055	706,660	6,115,386	6,822,046	828,306	2013	5 - 40
1901 10th Street	Plano, TX	—	*	555,168	6,401,789	618,010	555,168	7,019,799	7,574,967	1,037,479	2013	5 - 40
1909 10th Street	Plano, TX	—	*	551,706	5,797,440	328,067	551,706	6,125,507	6,677,213	880,200	2013	5 - 40
3605 East Plano Parkway	Plano, TX	—		1,047,996	9,218,748	1,970,974	1,047,996	11,189,721	12,237,717	1,820,188	2013	5 - 40
3701 East Plano Parkway	Plano, TX	—		877,564	7,460,686	773,494	877,564	8,234,179	9,111,743	1,150,031	2013	5 - 40
800 Klein Road	Plano, TX	—		580,456	5,681,283	1,595,423	580,456	7,276,706	7,857,162	973,045	2013	5 - 40
900 Klein Road	Plano, TX	—		723,534	6,004,923	378,359	723,534	6,383,282	7,106,816	989,893	2013	5 - 40
9801 80th Avenue	Pleasant Prairie, WI	—		1,692,077	7,934,794	58,937	1,689,726	7,996,082	9,685,808	3,807,978	1994	5 - 40
14630-14650 28th Avenue North	Plymouth, MN	—		198,205	1,793,422	1,097,124	198,205	2,890,545	3,088,750	1,499,797	1978	5 - 40
2920 Northwest Boulevard	Plymouth, MN	—		392,026	3,433,678	773,681	384,235	4,215,150	4,599,385	2,058,675	1997	5 - 40
5905 Trenton Lane North	Plymouth, MN	—		1,616,360	4,487,462	735,642	1,616,360	5,223,103	6,839,463	865,378	2013	5 - 40
6055 Nathan Lane North	Plymouth, MN	—		1,327,017	4,527,404	826,105	1,327,017	5,353,509	6,680,526	837,746	2013	5 - 40
1400 SW 6th Court	Pompano Beach, FL	—		1,157,049	4,620,956	1,351,035	1,157,049	5,971,991	7,129,040	2,947,077	1986	5 - 40
1405 SW 6th Court	Pompano Beach, FL	—		392,138	1,565,787	443,631	392,138	2,009,419	2,401,557	1,046,464	1985	5 - 40
1500 SW 5th Court	Pompano Beach, FL	—		972,232	3,892,085	1,423,097	972,232	5,315,182	6,287,414	2,445,184	1957	5 - 40
1501 SW 5th Court	Pompano Beach, FL	—		203,247	811,093	369,074	203,247	1,180,168	1,383,415	612,674	1990	5 - 40
1601 SW 5th Court	Pompano Beach, FL	—		203,247	811,093	208,337	203,247	1,019,431	1,222,678	476,637	1990	5 - 40
1651 SW 5th Court	Pompano Beach, FL	—		203,247	811,093	154,527	203,247	965,621	1,168,868	450,544	1990	5 - 40
2201-2215 NW 30th Place	Pompano Beach, FL	—		1,120,328	3,427,358	131,858	1,120,328	3,559,216	4,679,544	484,217	2013	5 - 40
2250-2270 NW 30th Place	Pompano Beach, FL	—		993,015	2,423,174	135,867	993,015	2,559,041	3,552,056	381,687	2013	5 - 40
2280-2300 NW 30th Place	Pompano Beach, FL	—		906,947	2,157,802	189,366	906,947	2,347,169	3,254,116	377,549	2013	5 - 40
2301-2329 NW 30th Place	Pompano Beach, FL	—		1,268,707	3,079,811	124,704	1,268,707	3,204,515	4,473,222	437,326	2013	5 - 40
3000 NW 25th Avenue	Pompano Beach, FL	—		1,087,554	2,897,117	156,810	1,087,554	3,053,927	4,141,481	466,741	2013	5 - 40
3001-3037 NW 25th Avenue	Pompano Beach, FL	—		1,548,542	3,512,041	338,715	1,548,542	3,850,757	5,399,299	663,071	2013	5 - 40
3012-3050 NW 25th Avenue	Pompano Beach, FL	—		1,112,781	2,763,862	225,157	1,112,781	2,989,018	4,101,799	478,959	2013	5 - 40
595 SW 13th Terrace	Pompano Beach, FL	—		359,933	1,437,116	720,423	359,933	2,157,539	2,517,472	1,259,729	1984	5 - 40
601 SW 13th Terrace	Pompano Beach, FL	—		164,413	655,933	279,401	164,413	935,334	1,099,747	536,076	1984	5 - 40
605 SW 16th Terrace	Pompano Beach, FL	—		310,778	1,238,324	294,980	310,178	1,533,904	1,844,082	672,829	1965	5 - 40
2459 Almond Avenue	Redlands, CA			3,810,171	11,979,923	140,915	3,810,171	12,120,838	15,931,009	112,006	2017	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
			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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
1221 N Alder Ave	Rialto, CA		17,280,833	72,740,859	5,825	17,280,833	72,746,684	90,027,517	14,606	2017	5 - 40
1920 West Baseline Rd	Rialto, CA	—	9,361,943	17,970,709	454,600	9,411,621	18,375,631	27,787,252	1,430,709	2014	5 - 40
301 Hill Carter Parkway	Richmond, VA	—	659,456	4,836,010	160,298	659,456	4,996,308	5,655,764	2,886,300	1989	5 - 40
4101-4127 Carolina Avenue	Richmond, VA	—	310,854	2,279,597	1,910,263	310,854	4,189,860	4,500,714	1,969,050	1973	5 - 40
4201-4261 Carolina Avenue	Richmond, VA	—	693,203	5,083,493	2,158,077	693,203	7,241,570	7,934,773	4,258,125	1975	5 - 40
4263-4299 Carolina Avenue	Richmond, VA	—	256,203	2,549,649	3,110,924	256,203	5,660,573	5,916,776	2,854,983	1976	5 - 40
4263F-N. Carolina Avenue	Richmond, VA	—	91,476	—	1,969,181	91,599	1,969,058	2,060,657	1,069,559	1975	5 - 40
4301-4335 Carolina Avenue	Richmond, VA	—	223,696	1,640,435	2,945,635	223,696	4,586,070	4,809,766	2,149,270	1978	5 - 40
4337-4379 Carolina Avenue	Richmond, VA	—	325,303	2,385,557	1,426,384	325,303	3,811,941	4,137,244	1,949,170	1979	5 - 40
4401-4445 Carolina Avenue	Richmond, VA	—	615,038	4,510,272	590,263	615,038	5,100,535	5,715,573	2,849,707	1988	5 - 40
4447-4491 Carolina Avenue	Richmond, VA	—	454,056	2,729,742	561,739	454,056	3,291,481	3,745,537	1,924,513	1987	5 - 40
4501-4549 Carolina Avenue	Richmond, VA	—	486,166	3,565,211	588,371	486,166	4,153,582	4,639,748	2,416,513	1981	5 - 40
4551-4593 Carolina Avenue	Richmond, VA	—	474,360	3,478,646	1,022,000	474,360	4,500,646	4,975,006	2,819,618	1982	5 - 40
4601-4643 Carolina Avenue	Richmond, VA	—	652,455	4,784,675	1,194,888	652,455	5,979,563	6,632,018	3,375,244	1985	5 - 40
4645-4683 Carolina Avenue	Richmond, VA	—	404,616	2,967,187	640,579	404,616	3,607,766	4,012,382	2,066,465	1985	5 - 40
4717-4729 Eubank Road	Richmond, VA	—	449,447	3,294,697	2,231,233	452,263	5,523,114	5,975,377	3,101,325	1978	5 - 40
510 Eastpark Court	Richmond, VA	—	261,961	2,110,874	435,046	262,210	2,545,671	2,807,881	1,452,681	1989	5 - 40
520 Eastpark Court	Richmond, VA	—	486,118	4,083,582	707,346	486,598	4,790,448	5,277,046	2,478,123	1989	5 - 40
530 Eastpark Court	Richmond, VA	—	266,883	—	2,609,290	334,772	2,541,401	2,876,173	1,320,396	1999	5 - 40
540 Eastpark Court	Richmond, VA	—	742,300	—	5,433,803	1,066,839	5,109,264	6,176,103	1,278,890	2007	5 - 40
5600-5626 Eastport Boulevard	Richmond, VA	—	489,941	3,592,900	653,447	489,941	4,246,347	4,736,288	2,315,211	1989	5 - 40
5601-5659 Eastport Boulevard	Richmond, VA	—	705,660	—	4,775,225	720,100	4,760,785	5,480,885	2,656,819	1996	5 - 40
5650-5674 Eastport Boulevard	Richmond, VA	—	644,384	4,025,480	911,909	644,384	4,937,389	5,581,773	2,587,321	1990	5 - 40
5700 Eastport Boulevard	Richmond, VA	—	408,729	2,697,348	1,248,597	408,729	3,945,945	4,354,674	2,349,031	1990	5 - 40
5701-5799 Eastport Boulevard	Richmond, VA	—	694,644	—	5,793,328	700,503	5,787,469	6,487,972	2,741,387	1998	5 - 40
5800 Eastport Boulevard	Richmond, VA	—	604,146	—	7,591,578	604,146	7,591,578	8,195,724	419,106	2016	5 - 40
5900 Eastport Boulevard	Richmond, VA	—	676,661	—	5,033,575	687,898	5,022,338	5,710,236	2,731,296	1997	5 - 40
6000 Eastport Blvd	Richmond, VA	—	872,901	—	7,490,690	901,666	7,461,925	8,363,591	1,844,704	1997	5 - 40
6530 Judge Adams Road	Rock Creek, NC	—	305,821	—	4,984,310	335,061	4,955,070	5,290,131	2,445,869	1999	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
6532 Judge Adams Road	Rock Creek, NC	—		354,903	—	4,029,460	399,988	3,984,375	4,384,363	2,132,455	1997	5 - 40
13098 George Weber Drive	Rogers, MN	—		895,811	6,004,189	342,789	895,811	6,346,978	7,242,789	1,131,645	2011	5 - 40
13220 Wilfred Lane	Rogers, MN	—		508,532	—	11,262,730	1,396,324	10,374,938	11,771,262	1,167,513	2014	5 - 40
13225 Brockton Lane	Rogers, MN	—		1,048,093	—	10,465,007	1,066,159	10,446,941	11,513,100	1,095,596	2014	5 - 40
1070 Windham Parkway	Romeoville, IL	—		8,672,143	24,144,864	1,240,599	8,672,143	25,385,463	34,057,606	3,444,236	2012	5 - 40
1550 Central Avenue	Roselle, IL	—	*	2,884,492	10,439,793	1,445,451	2,884,492	11,885,244	14,769,736	1,757,721	2013	5 - 40
1135 Aviation Place	San Fernando, CA	—		3,035,034	2,844,962	460,883	3,035,034	3,305,845	6,340,879	520,419	2013	5 - 40
5800 Technology Boulevard	Sandston, VA	—		1,741,867	—	12,042,698	1,744,160	12,040,405	13,784,565	426,034	2016	5 - 40
8715 Bollman Place	Savage, MD	—		1,263,237	2,633,210	216,780	1,263,237	2,849,990	4,113,227	423,573	2013	5 - 40
8501 East Raintree Drive	Scottsdale, AZ	—		4,076,412	—	27,623,368	4,115,137	27,584,643	31,699,780	10,010,208	2005	5 - 40
1150 Gateway Drive	Shakopee, MN	—		1,126,865	5,684,178	208,099	1,126,865	5,892,277	7,019,142	797,282	2012	5 - 40
5555 12th Avenue East	Shakopee, MN	—		887,285	5,321,200	706,086	887,285	6,027,286	6,914,571	938,514	2012	5 - 40
5651 Innovation Boulevard	Shakopee, MN	—		1,551,579	9,541,234	1,836,241	1,552,083	11,376,971	12,929,054	620,019	2015	5 - 40
12110 Champion Way	Sharonville, OH	—		1,337,271	6,135,118	619,579	1,337,271	6,754,698	8,091,969	1,079,960	2013	5 - 40
9300 Olde Scotland Road	Shippensburg, PA	—		10,232,633	—	84,620,569	12,933,027	81,920,175	94,853,202	8,405,238	2014	5 - 40
3990 Heritage Oak Court	Simi Valley, CA	—		1,964,140	10,667,267	348,024	1,964,140	11,015,291	12,979,431	1,442,290	2013	5 - 40
3654-3668 Swenson Avenue	St. Charles, IL	—		643,639	1,645,058	241,111	643,639	1,886,169	2,529,808	272,149	2013	5 - 40
3701 Illinois Ave	St. Charles, IL	—		672,500	1,288,924	136,087	672,500	1,425,011	2,097,511	239,510	2013	5 - 40
3950-3980 Swenson Avenue	St. Charles, IL	—		851,080	3,027,753	194,238	851,080	3,221,991	4,073,071	499,121	2013	5 - 40
1501 102nd Avenue North	St. Petersburg, FL	—	*	283,474	2,230,868	175,893	283,474	2,406,760	2,690,234	343,528	2013	5 - 40
1527 102nd Avenue North	St. Petersburg, FL	—	*	374,284	2,987,226	269,805	374,284	3,257,031	3,631,315	458,272	2013	5 - 40
1551 102nd Avenue North	St. Petersburg, FL	—	*	699,797	5,214,438	1,049,801	699,797	6,264,239	6,964,036	958,613	2013	5 - 40
6900 Harbour View Boulevard	Suffolk, VA	—		904,052	—	8,905,485	807,006	9,002,531	9,809,537	2,821,271	2006	5 - 40
6920 Harbour View Boulevard	Suffolk, VA	—		603,391	—	6,811,694	2,628,635	4,786,450	7,415,085	826,103	2005	5 - 40
6950 Harbour View Blvd	Suffolk, VA	—		929,844	—	6,399,035	794,848	6,534,031	7,328,879	2,021,547	2004	5 - 40
1516 Fryar Avenue	Sumner, WA	—		1,675,402	5,079,543	889,814	1,675,402	5,969,357	7,644,759	1,021,745	2013	5 - 40
3401-3409 Cragmont Drive	Tampa, FL	—		556,952	3,849,236	39,335	556,952	3,888,571	4,445,523	505,356	2012	5 - 40
3502 Riga Boulevard	Tampa, FL	—		201,600	1,263,131	239,882	201,600	1,503,013	1,704,613	181,319	2012	5 - 40
3505 Cragmont Drive	Tampa, FL	—		936,336	7,155,520	1,886	936,336	7,157,406	8,093,742	1,016,212	2012	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
3608 Queen Palm Drive	Tampa, FL	—		650,384	4,764,301	169,104		650,384	4,933,405	5,583,789	679,515	2012	5 - 40
5250 Eagle Trail Drive	Tampa, FL	—		952,860	—	3,636,749		952,860	3,636,749	4,589,609	1,710,467	1998	5 - 40
5501-5519 Pioneer Park Boulevard	Tampa, FL	—		162,000	1,613,000	997,161		262,416	2,509,745	2,772,161	1,486,601	1981	5 - 40
5690-5694 Crenshaw Street	Tampa, FL	—		181,923	1,812,496	1,023,603		181,923	2,836,099	3,018,022	1,441,409	1979	5 - 40
8110 Anderson Road	Tampa, FL	—		912,663	5,425,143	357,958		912,663	5,783,101	6,695,764	884,161	2012	5 - 40
8130 Anderson Road	Tampa, FL	—		655,668	4,132,076	135,482		655,668	4,267,558	4,923,226	640,520	2012	5 - 40
9020 King Palm Drive	Tampa, FL	—		1,718,496	11,697,381	913,458		1,718,496	12,610,839	14,329,335	1,699,170	2012	5 - 40
9110 King Palm Drive	Tampa, FL	—		1,203,200	7,979,540	764,935		1,203,200	8,744,475	9,947,675	1,144,622	2012	5 - 40
9203 King Palm Drive	Tampa, FL	—		754,832	4,966,864	(33,052	)	754,832	4,933,812	5,688,644	705,090	2012	5 - 40
9319 Peach Palm Drive	Tampa, FL	—		612,536	4,168,473	10,035		612,536	4,178,508	4,791,044	553,112	2012	5 - 40
9704 Solar Drive	Tampa, FL	—		374,548	1,354,800	763,058		374,548	2,117,858	2,492,406	260,248	2012	5 - 40
9945 Currie Davis Drive	Tampa, FL	—		1,134,286	9,241,807	381,604		1,134,286	9,623,410	10,757,696	1,384,379	2013	5 - 40
1850 W. Rio Salado Parkway	Tempe, AZ	—		3,975,600	—	23,099,819		3,975,600	23,099,819	27,075,419	1,824,610	2013	5 - 40
1858 E Encanto Dr	Tempe, AZ	—	*	877,611	4,485,427	412,814		877,611	4,898,241	5,775,852	736,485	2013	5 - 40
1910 W. Rio Salado Parkway	Tempe, AZ	—		4,693,504	—	24,629,008		4,693,504	24,629,008	29,322,512	1,755,471	2016	5 - 40
1930 W Rio Salado Pkwy	Tempe, AZ	—		4,069,890	—	24,158,460		4,069,890	24,158,460	28,228,350	702,240	2015	5 - 40
2040 W Rio Salado Parkway	Tempe, AZ	—		3,225,000	—	12,531,731		3,225,000	12,531,731	15,756,731	547,526	2015	5 - 40
475 W Vaughn St	Tempe, AZ	—		1,112,245	2,260,348	292,646		1,112,245	2,552,994	3,665,239	430,748	2013	5 - 40
921 South Park Lane	Tempe, AZ	—		1,192,820	1,580,155	481,163		1,192,820	2,061,319	3,254,139	472,215	2011	5 - 40
8313 West Pierce Street	Tolleson, AZ	—		2,295,090	9,079,811	4,106,812		2,295,090	13,186,623	15,481,713	4,180,357	2007	5 - 40
8591 West Washington Street	Tolleson, AZ	—		1,574,912	7,308,021	416,866		1,574,912	7,724,887	9,299,799	1,174,021	2012	5 - 40
8601 West Washington Street	Tolleson, AZ	—		1,524,603	6,352,070	725,161		1,524,603	7,077,231	8,601,834	1,343,235	2012	5 - 40
5111 S Royal Atlanta Drive	Tucker, GA	—	*	435,776	1,875,685	499,788		435,776	2,375,474	2,811,250	429,327	2013	5 - 40
5151 S Royal Atlanta Drive	Tucker, GA	—	*	345,061	1,428,840	328,461		345,061	1,757,301	2,102,362	330,717	2013	5 - 40
1100 17th Street NW	Washington, DC	—		16,558,660	32,223,978	4,819,314		16,558,660	37,043,292	53,601,952	7,352,708	2011	5 - 40
2100 M Street NW	Washington, DC	—		70,000,000	55,123,783	1,912,347		70,000,000	57,036,130	127,036,130	8,404,405	2013	5 - 40
1400 Powis Court	West Chicago, IL	—		578,314	2,448,562	73,579		578,314	2,522,141	3,100,455	337,290	2013	5 - 40
1 Kings Hill Avenue	West Malling, UK	—		4,288,389	—	7,930,852		3,381,307	8,837,934	12,219,241	2,698,820	2006	5 - 40
42 Kings Hill Avenue	West Malling, UK	—		5,397,739	—	10,206,094		3,670,842	11,932,991	15,603,833	3,132,365	2005	5 - 40
Liberty Square, Block 1	West Malling, UK	—		159,232	1,622,551	658,791		271,905	2,168,670	2,440,575	697,578	2006	5 - 40

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
					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 12/31/2017		Accumulated Depreciation 12/31/2017		Date of Construction or Acquisition	Depreciable life (years)
OPERATING PROPERTIES
Liberty Square, Block 2	West Malling, UK	—			199,150		1,614,217		689,302		340,070		2,162,599		2,502,669		674,983		2006	5 - 40
Liberty Square, Block 3	West Malling, UK	—			129,830		1,141,141		479,536		221,698		1,528,809		1,750,507		471,382		2006	5 - 40
Liberty Square, Block 5	West Malling, UK	—			71,377		735,993		298,534		121,883		984,021		1,105,904		303,533		2006	5 - 40
29 Liberty Square	West Malling, UK	—			165,363		1,139,928		25,834		168,913		1,162,211		1,331,124		43,922		2016	5 - 40
1400 Northpoint Parkway	West Palm Beach, FL	—		*	2,454,972		5,312,829		376,958		2,454,972		5,689,787		8,144,759		931,000		2013	5 - 40
300 Northpoint Parkway	West Palm Beach, FL	—		*	1,177,064		2,102,451		160,551		1,177,064		2,263,002		3,440,066		358,777		2013	5 - 40
400 Northpoint Parkway	West Palm Beach, FL	—		*	1,029,595		1,728,187		180,766		1,029,595		1,908,953		2,938,548		312,382		2013	5 - 40
6017 Southern Blvd	West Palm Beach, FL	—			4,513,860		—		9,167,515		4,513,860		9,167,515		13,681,375		38,247		2016	5 - 40
6035 Southern Blvd	West Palm Beach, FL	—			2,499,894		—		5,401,996		2,499,984		5,401,906		7,901,890		24,187		2016	5 - 40
2935 West Corporate Lakes Blvd	Weston, FL	—		*	4,682,521		25,905,126		1,435,528		4,682,521		27,340,654		32,023,175		3,358,697		2013	5 - 40
2945 West Corporate Lakes Blvd	Weston, FL	—		*	2,345,242		13,973,766		293,777		2,345,242		14,267,543		16,612,785		1,709,525		2013	5 - 40
43-47 Hintz Road	Wheeling, IL	—			2,051,093		18,283,480		539,342		2,051,093		18,822,823		20,873,916		2,475,574		2013	5 - 40
Worcester 1 - Plot 4	Worcester, UK	—			843,256		—		4,234,133		1,175,040		3,902,349		5,077,389		12,897		2016	5 - 40
Subtotal Operating Real Estate		$	47,946,455		$	1,099,713,438	$	2,336,140,008	$	2,161,408,921	$	1,153,680,251	$	4,443,582,109	$	5,597,262,360	$	940,612,342

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017		Accumulated Depreciation 12/31/2017		Date of Construction or Acquisition	Depreciable life (years)
Development Properties
2250 East Bardin Road	Arlington, TX	—		4,754,659		—		24,262,394		—		29,017,052		29,017,052		—		2017	N/A
350 North York Road	Bensenville, IL	—		3,043,130		—		4,388,458		—		7,431,588		7,431,588		—		2017	N/A
100 Carolina Way	Carlisle, PA	—		10,830,187		—		21,472,109		—		32,302,296		32,302,296		—		2017	N/A
1955 TW Alexander Drive	Durham, NC	—		758,503		—		7,481,188		—		8,239,691		8,239,691		—		2017	N/A
1075 King George Post Road	Edison, NJ	—		—		—		13,168,246		—		13,168,246		13,168,246		—		2016	N/A
1720 West 135th Street	Gardena, CA	—		7,423,389		—		12,948,990		—		20,372,379		20,372,379		—		2017	N/A
2980 Green Road	Greer, SC	—		16,338		—		5,441,655		—		5,457,993		5,457,993		—		2017	N/A
7157 Ridge Road	Hanover, MD	—		3,875,203		—		4,929,287		—		8,804,490		8,804,490		—		2017	N/A
650 Swedesford Road	King of Prussia, PA	—		488,529		—		7,914,012		—		8,402,541		8,402,541		—		2017	N/A
1200 Claybrick Road	Landover, MD	—		6,876,500		—		942,883		—		7,819,383		7,819,383		—		2016	N/A
1806 Highway 146th South	LaPorte, TX	—		1,055,035		—		1,838,576		—		2,893,611		2,893,611		—		2017	N/A
1814 Highway 146th South	LaPorte, TX	—		1,420,014		—		433,719		—		1,853,733		1,853,733		—		2017	N/A
1302 Wharton Weems Blvd	LaPorte, TX	—		4,378,890		—		2,263,432		—		6,642,322		6,642,322		—		2017	N/A
875 Maxham Road	Lithia Springs, GA	—		445,493		—		11,272,084		—		11,717,577		11,717,577		—		2017	N/A
11430 NW 122 Street	Medley, FL	—		5,790,968		—		8,969,067		—		14,760,035		14,760,035		—		2017	N/A
8801 Congdon Hill Drive	Mertztown, PA	—		23,016,646		—		47,804,802		—		70,821,448		70,821,448		—		2016	N/A
1050 Constitution Avenue	Philadelphia, PA	—		1,969,501		—		37,458,724		—		39,428,225		39,428,225		—		2015	N/A
1500 S 71st Avenue	Phoenix, AZ	—		4,234,407		—		4,648,512		—		8,882,919		8,882,919		—		2016	N/A
3929 Shutterfly Road	Charlotte, NC	—		592,233		—		10,093,931		—		10,686,164		10,686,164		—		2016	N/A
9724 Alabama Street	San Bernardino, CA	—		4,140,486		—		8,367,860		—		12,508,346		12,508,346		—		2017	N/A
1870 W Rio Salado Parkway	Tempe, AZ	—		2,272,702		—		42,762,030		—		45,034,732		45,034,732		—		2016	N/A
Worcester 2	Worcester, UK	—		3,172,249		—		9,054,991		—		12,227,240		12,227,240		—		2016	N/A
Subtotal Development in Progress		$	—	$	90,555,062	$	—	$	287,916,950	$	—	$	378,472,011	$	378,472,011	$	—

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
			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 12/31/2017	Accumulated Depreciation 12/31/2017	Date of Construction or Acquisition	Depreciable life (years)
LAND HELD FOR DEVELOPMENT
Mill Creek Road Land East	Allentown, PA	—	7,175,000	—	—		7,175,000	—	7,175,000	—	2017	N/A
100 and 160 Dulty's Lane Land	Burlington, NJ	—	3,746,363	—	387,026		4,133,389	—	4,133,389	—	2017	N/A
180 Dulty's Lane Land	Burlington, NJ	—	2,866,850	—	329,151		3,196,001	—	3,196,001	—	2016	N/A
Butts County Land	Butts County, GA	—	2,866,568	—	1,926,717		4,793,285	—	4,793,285	—	2017	N/A
Camden Town Center Land	Camden, NJ	—	11,303,073	—	10,252,135		21,555,208	—	21,555,208	—	2016	N/A
12912 Virkler Drive Land	Charlotte, NC	—	208,646	—	88,354		297,000	—	297,000	—	2010	N/A
Shopton Ridge Business Park Land	Charlotte, NC	—	644,925	—	1,859,095		2,504,020	—	2,504,020	—	2014	N/A
Mountain Creek Business Park L	Dallas, TX	—	7,984,928	—	5,022,735		13,007,663	—	13,007,663	—	2016	N/A
Holly Lane North Land	Dayton, MN	—	889,205	—	181,612		1,070,817	—	1,070,817	—	2014	N/A
French Lake Land	Dayton/Rogers, MN	—	13,513,632	—	7,385,459		20,899,091	—	20,899,091	—	2015	N/A
Flying Cloud Drive Land	Eden Prairie, MN	—	2,051,631	—	4,369,545		6,421,176	—	6,421,176	—	2007	N/A
Camelback 303 Business Center Land	Goodyear, AZ	—	16,857,556	—	4,352,280		21,209,836	—	21,209,836	—	2007	N/A
Pleasant Ridge Road Land	Greensboro, NC	—	564,535	—	2,976,650		3,541,185	—	3,541,185	—	2006	N/A
Arundel Ridge Land	Hanover, MD	—	3,371,183	—	(583,887	)	2,787,296	—	2,787,296	—	2008	N/A
Interwood Land	Houston, TX	—	5,160,668	—	29,015		5,189,683	—	5,189,683	—	2012	N/A
Rankin Road Land	Houston, TX	—	5,756,865	—	382,693		6,139,558	—	6,139,558	—	2007	N/A
Richey Road Land	Houston, TX	—	26,135,466	—	7,024,965		33,160,431	—	33,160,431	—	2014	N/A
Cabin Branch Road Land	Hyattsville, MD	—	507,337	—	3,099		510,436	—	510,436	—	2017	N/A
Frye Road and Valley View Lane Land	Irving, TX	—	1,917,440	—	962,176		2,879,616	—	2,879,616	—	2014	N/A
Rouse Kent Limited	Kent, UK	—	—	—	35,246,308		35,246,308	—	35,246,308	—	2012	N/A
Port Crossing Commerce Center Land	La Porte, TX	—	9,401,409	—	1,382,139		10,783,548	—	10,783,548	—	2015	N/A
Commodore Business Park	Logan, NJ	—	792,118	—	1,455,989		2,248,107	—	2,248,107	—	1995	N/A
Spring Creek Land	Lower Macungie Twp, PA	—	33,567,060	—	8,106,014		41,673,074	—	41,673,074	—	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	—	2,598,259		3,201,309	—	3,201,309	—	2015	N/A
Old Morehall Rd Land (Morelli)	Malvern, PA	—	3,343,863	—	33,548		3,377,411	—	3,377,411	—	2016	N/A
Miami International Tradeport Land	Medley, FL	—	9,202,254	—	15,840,193		25,042,447	—	25,042,447	—	2011	N/A

LIBERTY PROPERTY TRUST AND LIBERTY PROPERTY LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
AS OF DECEMBER 31, 2017
				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 12/31/2017		Accumulated Depreciation 12/31/2017		Date of Construction or Acquisition	Depreciable life (years)
LAND HELD FOR DEVELOPMENT
557 Nazareth Pike Land	Nazareth, PA	—		4,667,646		—		532,716		5,200,362		—		5,200,362		—		2013	N/A
Southern Boulevard Land	Palm Beach County, FL	—		8,051,351		—		5,160,487		13,211,838		—		13,211,838		—		2014	N/A
Buckeye Logistics Center West Land	Phoenix, AZ	—		6,173,841		—		4,014,937		10,188,778		—		10,188,778		—		2013	N/A
Woodlands Center Land	Sandston, VA	—		148,314		—		21,717		170,031		—		170,031		—		1996	N/A
Northsight Land	Scottsdale, AZ	—		6,176,464		—		2,204,597		8,381,061		—		8,381,061		—		2005	N/A
Suffolk Land	Suffolk, VA	—		2,715,714		—		823,895		3,539,609		—		3,539,609		—		2006	N/A
6119 W. Linebaugh Avenue	Tampa, FL	—		180,136		—		30,499		210,635		—		210,635		—		2000	N/A
Legacy Park Land	Tampa, FL	—		3,289,423		—		3,168,809		6,458,232		—		6,458,232		—		2006	N/A
Subtotal Land Held for Development		$	—	$	203,179,323	$	—	$	127,568,927	$	330,748,250	$	—	$	330,748,250	$	—
Total All Properties		$	47,946,455	$	1,393,447,823	$	2,336,140,008	$	2,576,894,798	$	1,484,428,501	$	4,822,054,120	$	6,306,482,621	$	940,612,342

* Denotes property is collateralized under mortgages with Athene, New York Life and Wells Fargo totaling $214.2 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,
	2017			2016			2015
REAL ESTATE:
Balance at beginning of year	$	5,962,096		$	6,777,467		$	6,846,182
Additions	675,868			470,812			553,651
Disposition of property	(331,481		)	(1,286,183		)	(622,366		)
Balance at end of year	$	6,306,483		$	5,962,096		$	6,777,467
ACCUMULATED DEPRECIATION:
Balance at beginning of year	$	847,106		$	1,062,964		$	1,102,609
Depreciation expense	149,044			168,077			182,011
Disposition of property	(55,537		)	(383,935		)	(221,656		)
Balance at end of year	$	940,613		$	847,106		$	1,062,964