Liberty Property Trust and AIPO became partners in 2005. With aligned goals and interests, the partnership plans on developing the remaining vacant land in the park. 1.1 Million square feet have been develped to date highlighted by the 500,000 square foot facility occupied by Amcor Rigid Plastics.
Liberty Property Trust (NYSE: LPT) is a $9 billion real estate investment trust which owns 103 million square feet of industrial and office space throughout the United States and the United Kingdom (as of June 30, 2014). Founded in 1972 and headquartered outside of Philadelphia, Liberty develops, acquires, leases and manages properties with the mission to enhance people's lives through extraordinary work environments.
As an extension of this promise, Liberty is one of the nation's leading developers of high-performance green buildings. Liberty's more than 750 industrial and office properties offer exceptional locations, flexible design, thoughtful amenities, cost efficient operations and state-of-the-art technology to the company's 2,300 tenants. Liberty continuously increases the value of its portfolio through expert management, marketing and development.
Airport International Park of Orlando was initiated in 1980 when the still, current owners identified the strategic opportunity for this Class A business park adjacent to the international airport in Orlando. The Sabga family, a partnership of three brothers: George, Emile and Joseph Sabga, along with their cousin, Peter George, were the major force behind this. The brothers were instrumental in establishing the 1,350-acre industrial and commercial mixed-use park and recognized the strategic importance of Central Florida as a distribution hub for the region. AIPO is the second largest industrial park in Central Florida, in terms of permitted development space (approved for 22 million sq. ft.), and it was the first industrial DRI (Development of Regional Impact) in the State of Florida. It presently has almost 6 million sq. ft. of warehouse and distribution space developed, much of it by the Sabgas.
The Sabga family has had extensive experience in real estate development and construction dating back to 1968. They have been involved in Real Estate property management and development in Florida since 1977. To date, they have participated in the acquisition or development of over 5 million square feet of commercial properties throughout the state. In addition to real estate, the family also has extensive experience in manufacturing, retail and banking.
In 1996, S. Paul Sabga first got involved with the project, and he continues as President to this day. Since he began with AIPO, he has retired over $25 million of debt ; sold over 300 acres of land; oversaw the development of over 4 million square feet of buildings; and managed over $5 million of infrastructure work.
In 2005, after an extensive search and negotiation process, Paul Sabga finalized an agreement with Liberty Property Trust to become development partners. Since then, he was instrumental in developing and fully leasing out 1.1 million square feet of buildings in partnership with Liberty.