Keystone Property Trust Announces Acquisition in Miami

Keystone Property Trust Announces Acquisition in Miami 


WEST CONSHOHOCKEN, Pa., March 18  /PRNewswire-FirstCall/ -- Keystone Property
Trust  today announced that it has acquired three distribution centers
consisting of 189,218 square feet in Miami, FLfor approximately $12.5 million. 
The facilities were built in 1999 and are 100% leased to credit tenants
including Tyco International and Trane Corporation.

The buildings are located within one mile of Miami International Airport in the
Airport West submarket.  These modern facilities are tilt-up concrete
construction with 24' clear ceiling heights and are representative of the
highest quality industrial product in this submarket.

Regarding the Company's acquisition, John B. Begier, Executive VicePresident
and Chief Investment Officer of Keystone Property Trust, stated, "After entering
Miami in November of 2003 with the purchase of International Corporate Park, we
are pleased to further establish our presence in one of the most dynamic
industrial markets in the United States.  Miami is a major distribution hub
driven by global trade with significant constraints to new supply."

Keystone Property Trust, with headquarters in West Conshohocken, Pennsylvania,
is a fully integrated real estate investment trust with a current portfolio of
142 properties, including properties under development, aggregating 33 million
square feet in the Eastern United States.  For more information, contact
Aleathia M. Hoster at [phone], send email to  or visit the Company
website at http://www.keystoneproperty.com/.

This press release may contain statements which constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995, including statements regardingthe intent, belief or current expectations
of the Company, its trustees, or its officers with respect to the future
operating performance of the Company and the result and the effect of legal
proceedings.  Investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and uncertainties,
and that actual results may differ materially from those in the forward-looking
statements as a result of various factors. Important factors that could cause
such differences are described in the Company's periodic filings with the
Securities and Exchange Commission, including the Company's Form 10-K and
quarterly reports on Form 10-Q. 

DATASOURCE: Keystone Property Trust



CONTACT:  Aleathia M. Hoster of Keystone Property Trust, [phone];

or Michael Beckerman, [phone], , for Keystone

Property Trust



Web site:  http://www.keystoneproperty.com/ 

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