2.2.0.25truefalse0208 - Disclosure - Commitments and Contingenciestruefalsefalse1falsefalseUSDfalsefalse1/1/2011 - 3/31/2011
USD ($)
USD ($) / shares
$Jan-01-2011_Mar-31-2011http://www.sec.gov/CIK0000921112duration2011-01-01T00:00:002011-03-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDEPSDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2false0us-gaap_CommitmentsAndContingenciesDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 7 - us-gaap:CommitmentsAndContingenciesDisclosureTextBlock-->
<div style="font-family: Helvetica,Arial,sans-serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><u><b>Note 7: Commitments and Contingencies</b></u>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Environmental Matters</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Substantially all of the Properties and land were subject to Phase I Environmental Assessments and
when appropriate Phase II Environmental Assessments (collectively, the “Environmental Assessments”)
obtained in contemplation of their acquisition by the Company. The Environmental Assessments did
not reveal, nor is the Company aware of, any non-compliance with environmental laws, environmental
liability or other environmental claim that the Company believes would likely have a material
adverse effect on the Company.
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: Helvetica,Arial,sans-serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Operating Ground Lease Agreements</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Future minimum rental payments under the terms of all non-cancelable operating ground leases under
which the Company is the lessee, as of March 31, 2011, were as follows (in thousands):
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="86%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td nowrap="nowrap" align="left" style="border-bottom: 1px solid #000000"><b>Year</b></td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Amount</b></td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">2011
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">205</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">2012
</div></td>
<td> </td>
<td> </td>
<td align="right">279</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">2013
</div></td>
<td> </td>
<td> </td>
<td align="right">282</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">2014
</div></td>
<td> </td>
<td> </td>
<td align="right">279</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">2015
</div></td>
<td> </td>
<td> </td>
<td align="right">276</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">2016 through 2070
</div></td>
<td> </td>
<td> </td>
<td align="right">10,243</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Total
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">11,564</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Operating ground lease expense during the three months ended March 31, 2011 and 2010 was $77,000
and $134,000, respectively.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Legal Matters</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">From time to time, the Company is a party to a variety of legal proceedings, claims and assessments
arising in the normal course of business. The Company believes that as of March 31, 2011 there
were no legal proceedings, claims or assessments expected to have a material adverse effect on the
Company’s business or financial statements.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Other</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company is obligated to make additional capital contributions to unconsolidated joint ventures
of $4.2 million. The Company has other miscellaneous guarantees related to its unconsolidated
joint ventures for up to a maximum of $1.6 million.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company has letter of credit obligations of $934,000 related to development requirements. The
Company believes that it is remote that there will be a draw upon these letter of credit
obligations.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company has started the development, on a speculative basis, of two industrial-flex buildings
and has signed leases (one of which is subject to certain approvals) committing it to the
development of two 100% leased office buildings. The industrial-flex buildings are expected to
contain a total of 103,000 square feet of leasable space and represent an anticipated aggregate investment of
$15 million. The office buildings are expected to contain a total of 360,000 square feet of
leasable space and represent an anticipated aggregate investment of $130 million.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company is obligated to pay tenants for allowances for tenant improvements not yet completed
for a maximum of $42.7 million.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company maintains cash and cash equivalents at financial institutions. The combined account
balances at each institution typically exceed FDIC insurance coverage and, as a result, there is a
concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage.
The Company believes the risk is not significant.
</div>
</div>
falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringIncludes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
falsefalse3false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://libertyproperty.com/role/commitmentsandcontingencies1falsefalsefalse00falsefalsefalsefalsefalse2falsefalseUSDtruefalse{dei_LegalEntityAxis} : Limited Partnership [Member]
1/1/2011 - 3/31/2011
USD ($)
USD ($) / shares
$ThreeMonthsEnded_31Mar2011_Limited_Partnership_Memberhttp://www.sec.gov/CIK0000921112duration2011-01-01T00:00:002011-03-31T00:00:00falsefalseLIBERTY PROPERTY LIMITED PARTNERSHIPdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldilry_LimitedPartnershipMemberdei_LegalEntityAxisexplicitMemberUSDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0USDEPSDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0USDUSD$OthernaNo definition available.No authoritative reference available.falsefalse4false0us-gaap_CommitmentsAndContingenciesDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 15 - us-gaap:CommitmentsAndContingenciesDisclosureTextBlock-->
<div style="font-family: Helvetica,Arial,sans-serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><u><b>Note 7: Commitments and Contingencies</b></u>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Environmental Matters</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Substantially all of the Properties and land were subject to Phase I Environmental Assessments and
when appropriate Phase II Environmental Assessments (collectively, the “Environmental Assessments”)
obtained in contemplation of their acquisition by the Company. The Environmental Assessments did
not reveal, nor is the Company aware of, any non-compliance with environmental laws, environmental
liability or other environmental claim that the Company believes would likely have a material
adverse effect on the Company.
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: Helvetica,Arial,sans-serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Operating Ground Lease Agreements</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Future minimum rental payments under the terms of all non-cancelable operating ground leases under
which the Company is the lessee, as of March 31, 2011, were as follows (in thousands):
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="86%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td nowrap="nowrap" align="left" style="border-bottom: 1px solid #000000"><b>Year</b></td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Amount</b></td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">2011
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">205</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">2012
</div></td>
<td> </td>
<td> </td>
<td align="right">279</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">2013
</div></td>
<td> </td>
<td> </td>
<td align="right">282</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">2014
</div></td>
<td> </td>
<td> </td>
<td align="right">279</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">2015
</div></td>
<td> </td>
<td> </td>
<td align="right">276</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">2016 through 2070
</div></td>
<td> </td>
<td> </td>
<td align="right">10,243</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Total
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">11,564</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Operating ground lease expense during the three months ended March 31, 2011 and 2010 was $77,000
and $134,000, respectively.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Legal Matters</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">From time to time, the Company is a party to a variety of legal proceedings, claims and assessments
arising in the normal course of business. The Company believes that as of March 31, 2011 there
were no legal proceedings, claims or assessments expected to have a material adverse effect on the
Company’s business or financial statements.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Other</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company is obligated to make additional capital contributions to unconsolidated joint ventures
of $4.2 million. The Company has other miscellaneous guarantees related to its unconsolidated
joint ventures for up to a maximum of $1.6 million.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company has letter of credit obligations of $934,000 related to development requirements. The
Company believes that it is remote that there will be a draw upon these letter of credit
obligations.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company has started the development, on a speculative basis, of two industrial-flex buildings
and has signed leases (one of which is subject to certain approvals) committing it to the
development of two 100% leased office buildings. The industrial-flex buildings are expected to
contain a total of 103,000 square feet of leasable space and represent an anticipated aggregate investment of
$15 million. The office buildings are expected to contain a total of 360,000 square feet of
leasable space and represent an anticipated aggregate investment of $130 million.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company is obligated to pay tenants for allowances for tenant improvements not yet completed
for a maximum of $42.7 million.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company maintains cash and cash equivalents at financial institutions. The combined account
balances at each institution typically exceed FDIC insurance coverage and, as a result, there is a
concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage.
The Company believes the risk is not significant.
</div>
</div>
falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringIncludes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
falsefalse13Commitments and ContingenciesUnKnownUnKnownUnKnownUnKnownfalsetrue