Press release from GlobeNewswire (a Nasdaq OMX company)
Lexington Realty Trust Completes Industrial Facility Sale/Leaseback
Monday, April 01, 2013
Lexington Realty Trust Completes Industrial Facility Sale/Leaseback13:15 EDT Monday, April 01, 2013
NEW YORK, April 1, 2013 (GLOBE NEWSWIRE) -- Lexington Realty Trust ("Lexington") (NYSE:LXP), a real estate investment trust (REIT) focused on single-tenant real estate investments, today announced that one of its wholly-owned subsidiaries closed on the acquisition of an industrial facility in Houston, Texas for a capitalized cost of approximately $81.4 million. The facility consists of a deepwater intermodal industrial terminal with 2,055 feet of deep water berths and existing structures encompassing 132,000 square feet on over 90 acres on the Houston Ship Channel. Upon acquisition, the facility was net-leased to Industrial Terminals Management L.L.C. for a 25-year term. The obligations of the tenant are guaranteed by Maritime Holdings (Delaware) LLC. The average rent during the lease term is approximately 8.3% of the purchase price.
ABOUT LEXINGTON REALTY TRUST
Lexington Realty Trust is a self-managed and self-administered real estate investment trust that invests in, owns, finances and manages predominantly single-tenant office, industrial and retail properties leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the single-tenant area. Lexington common shares are traded on the New York Stock Exchange under the symbol "LXP". Additional information about Lexington is available by contacting Lexington Realty Trust, One Penn Plaza, Suite 4015, New York, New York 10119-4015, Attention: Investor Relations.
CONTACT: Investor or Media Inquiries for Lexington Realty Trust: Patrick Carroll, CFO Lexington Realty Trust Phone: (212) 692-7200 E-mail: email@example.com