Exhibit 99.2
Quarterly Earnings and
Supplemental Operating and Financial Data
For the Quarter Ended March 31, 2007
LEXINGTON REALTY TRUST
SUPPLEMENTAL REPORTING PACKAGE
For the three months ended March 31, 2007
Table of Contents
Statements of Operations | 3 |
Balance Sheets | 4 |
Combined Joint Venture Income Statement | 5 |
First Quarter Transaction Summary | 6 |
Property Holdings | 8 |
Lease Rollover Schedules | 21 |
Mortgages and Notes Payable | 23 |
Revenue by Tenant Industry | 29 |
Revenue by MSA | 30 |
Other Revenue Data | 31 |
Investor Information | 32 |
This Quarterly Earnings and Supplemental Operating and Financial Data contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the control of Lexington Realty Trust (“Lexington”) which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 1, 2007 (the “Form 10-K”) and other periodic reports filed with the SEC, including risks related to, (i) the failure to integrate our operations and properties with those of Newkirk Realty Trust, (ii) the failure to continue to qualify as a real estate investment trust, (iii) changes in general business and economic conditions, (iv) competition, (v) increases in real estate construction costs, (vi) changes in interest rates, or (vii) changes in accessibility of debt and equity capital market. Copies of the Form 10-K and the other periodic reports Lexington files with the SEC are available on Lexington’s website at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe the Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects” or similar expressions. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.
Lexington Realty Trust and Consolidated Subsidiaries
Consolidated Statements of Operations
(in thousands, except share data)
|
| Three Months Ended |
| ||||
|
| 2007 |
| 2006 |
| ||
Gross revenues: |
|
|
|
|
|
|
|
Rental |
| $ | 88,792 |
| $ | 46,125 |
|
Advisory fees |
|
| 719 |
|
| 1,063 |
|
Tenant reimbursements |
|
| 5,651 |
|
| 4,433 |
|
Total gross revenues |
|
| 95,162 |
|
| 51,621 |
|
|
|
|
|
|
|
|
|
Expense applicable to revenues: |
|
|
|
|
|
|
|
Depreciation and amortization |
|
| (54,302 | ) |
| (19,541 | ) |
Property operating |
|
| (11,475 | ) |
| (7,697 | ) |
General and administrative |
|
| (8,816 | ) |
| (5,614 | ) |
Non-operating income |
|
| 2,560 |
|
| 795 |
|
Interest and amortization expense |
|
| (32,978 | ) |
| (17,369 | ) |
Debt satisfaction charges |
|
| — |
|
| (947 | ) |
|
|
|
|
|
|
|
|
Income (loss) before benefit (provision) for income taxes, minority interests, |
|
| (9,849 | ) |
| 1,248 |
|
Benefit (provision) for income taxes |
|
| (543 | ) |
| 73 |
|
Minority interests share of (income) loss |
|
| 7,522 |
|
| (216 | ) |
Equity in earnings of non-consolidated entities |
|
| 3,508 |
|
| 1,268 |
|
Income from continuing operations |
|
| 638 |
|
| 2,373 |
|
|
|
|
|
|
|
|
|
Discontinued operations: |
|
|
|
|
|
|
|
Income from discontinued operations |
|
| 2,414 |
|
| 1,732 |
|
Debt satisfaction charges |
|
| — |
|
| (78 | ) |
Gains on sales of properties |
|
| — |
|
| 2,653 |
|
Minority interests share of (income) loss |
|
| (837 | ) |
| (602 | ) |
Total discontinued operations |
|
| 1,577 |
|
| 3,705 |
|
Net income |
|
| 2,215 |
|
| 6,078 |
|
Dividends attributable to preferred shares – Series B |
|
| (1,590 | ) |
| (1,590 | ) |
Dividends attributable to preferred shares – Series C |
|
| (2,519 | ) |
| (2,519 | ) |
Dividends attributable to preferred shares – Series D |
|
| (1,522 | ) |
| — |
|
Net income (loss) allocable to common shareholders |
| $ | (3,416 | ) | $ | 1,969 |
|
|
|
|
|
|
|
|
|
Income (loss) per common share – basic: |
|
|
|
|
|
|
|
Loss from continuing operations, after preferred dividends |
| $ | (0.07 | ) | $ | (0.03 | ) |
Income from discontinued operations |
|
| 0.02 |
|
| 0.07 |
|
Net income (loss) allocable to common shareholders |
| $ | (0.05 | ) | $ | 0.04 |
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding – basic |
|
| 68,538,404 |
|
| 51,844,001 |
|
|
|
|
|
|
|
|
|
Income (loss) per common share – diluted: |
|
|
|
|
|
|
|
Loss from continuing operations, after preferred dividends |
| $ | (0.07 | ) | $ | (0.03 | ) |
Income from discontinued operations |
|
| 0.02 |
|
| 0.07 |
|
Net income (loss) allocable to common shareholders |
| $ | (0.05 | ) | $ | 0.04 |
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding – diluted |
|
| 68,538,404 |
|
| 51,844,001 |
|
Page 3
Lexington Realty Trust and Consolidated Subsidiaries
Consolidated Balance Sheets
(in thousands)
|
| March 31, |
| December 31, |
| ||
Assets: |
|
|
|
|
|
|
|
Real estate, at cost |
| $ | 3,774,018 |
| $ | 3,747,156 |
|
Less: accumulated depreciation and amortization |
|
| 305,432 |
|
| 276,129 |
|
|
|
| 3,468,586 |
|
| 3,471,027 |
|
Properties held for sale – discontinued operations |
|
| 86,540 |
|
| 69,612 |
|
Intangible assets, net |
|
| 434,466 |
|
| 468,244 |
|
Cash and cash equivalents |
|
| 200,120 |
|
| 97,547 |
|
Investment in and advances to non-consolidated entities |
|
| 243,494 |
|
| 247,045 |
|
Deferred expenses, net |
|
| 30,901 |
|
| 16,084 |
|
Notes receivable |
|
| 49,382 |
|
| 50,534 |
|
Rent receivable – current |
|
| 27,916 |
|
| 53,744 |
|
Rent receivable – deferred |
|
| 24,600 |
|
| 29,410 |
|
Investment in marketable securities |
|
| 24,792 |
|
| 32,036 |
|
Other assets |
|
| 81,444 |
|
| 89,574 |
|
|
| $ | 4,672,241 |
| $ | 4,624,857 |
|
Liabilities and Shareholders’ Equity: |
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
Mortgages and notes payable |
| $ | 1,526,813 |
| $ | 2,126,810 |
|
Exchangeable notes payable, including accrued interest |
|
| 450,000 |
|
| — |
|
Trust notes payable, including accrued interest |
|
| 200,000 |
|
| — |
|
Contract rights payable |
|
| 12,527 |
|
| 12,231 |
|
Dividends payable |
|
| 30,412 |
|
| 44,948 |
|
Liabilities – discontinued operations |
|
| 48,316 |
|
| 6,064 |
|
Accounts payable and other liabilities |
|
| 24,621 |
|
| 25,877 |
|
Accrued interest payable |
|
| 10,147 |
|
| 10,818 |
|
Deferred revenue |
|
| 325,500 |
|
| 362,815 |
|
Prepaid rent |
|
| 17,215 |
|
| 10,109 |
|
|
|
| 2,645,551 |
|
| 2,599,672 |
|
Minority interests |
|
| 839,144 |
|
| 902,741 |
|
|
|
|
|
|
|
|
|
Shareholders’ equity |
|
| 1,187,546 |
|
| 1,122,444 |
|
|
| $ | 4,672,241 |
| $ | 4,624,857 |
|
|
|
|
|
|
|
|
|
Common shares |
|
| 66,242 |
|
| 69,052 |
|
Operating partnership units |
|
| 40,166 |
|
| 41,191 |
|
Preferred shares |
|
| 12,460 |
|
| 6,260 |
|
Page 4
Lexington Realty Trust | ||||||
Joint Venture Proportionate Share | ||||||
Combined Condensed Statement of Income | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Three Months Ended |
|
|
|
|
|
| March 31, 2007 |
|
|
|
|
|
|
|
|
|
| Gross revenues |
| $ 13,918 |
|
| |
|
|
|
|
|
|
|
| Depreciation and amortization | $ 5,305 |
|
| ||
| Interest and amortization | $ 8,170 |
|
| ||
| Other income and expenses | $ (2,970) |
|
| ||
| Expenses |
|
| $ 10,505 |
|
|
|
|
|
|
|
|
|
| Net income |
| $ 3,413 |
|
|
Page 5
Lexington Realty Trust | |||||||||||||||||||||||||||||||||||||
2007 First Quarter Transaction Summary | |||||||||||||||||||||||||||||||||||||
($000) | |||||||||||||||||||||||||||||||||||||
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|
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|
|
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| |||||||||||||||||||
Acquisitions | |||||||||||||||||||||||||||||||||||||
Tenants/Guarantors |
| Location |
|
| Property | Capitalized Costs | Average Annual | Average | Current | Current | Lease |
| |||||||||||||||||||||||||
Corinthian Colleges, Inc. |
| Orlando | FL |
| Office |
| $ 14,320 |
| $ 1,222 |
| 8.5% |
| $ 1,184 |
| 8.3% |
| Sep-2013 |
| |||||||||||||||||||
Libbey Glass, Inc. |
| Shreveport | LA |
| Industrial |
| $ 26,678 |
| $ 2,092 |
| 7.8% |
| $ 1,873 |
| 7.0% |
| Oct-2026 |
| |||||||||||||||||||
Harvard Vanguard Medical Assoc. |
| Boston | MA |
| Office |
| $ 20,070 |
| $ 1,246 |
| 6.2% |
| $ 1,229 |
| 6.1% |
| May-2012 |
| |||||||||||||||||||
Brinks, Inc. |
| Coppell | TX |
| Office |
| $ 18,082 |
| $ 1,426 |
| 7.9% |
| $ 1,204 |
| 6.7% |
| Apr-2017 |
| |||||||||||||||||||
|
|
|
|
|
|
| $ 79,150 |
| $ 5,986 |
| 7.6% |
| $ 5,490 |
| 6.9% |
|
|
| |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Dispositions |
| ||||||||||||||||||||||||||||||||||||
Tenants/Guarantors |
| Location |
|
| Property | Net Sale Price |
| Net Book Value |
|
|
|
|
|
|
|
|
| ||||||||||||||||||||
Honeywell International Inc. |
| Morris Township | NJ |
| Office |
| $ 11,967 |
| $ 11,967 |
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Honeywell International Inc. |
| Morris Township | NJ |
| Office |
| $ 1,470 |
| $ 1,470 |
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Honeywell International Inc. |
| Morris Township | NJ |
| Office |
| $ 9,768 |
| $ 9,768 |
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Honeywell International Inc. |
| Morris Township | NJ |
| Office |
| $ 18,689 |
| $ 18,689 |
|
|
|
|
|
|
|
|
| |||||||||||||||||||
|
|
|
|
|
|
| $ 41,894 |
| $ 41,894 |
|
|
|
|
|
|
|
|
|
| ||||||||||||||||||
|
|
|
|
|
|
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|
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|
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| |||||||||||||||||||
New Property Financings | |||||||||||||||||||||||||||||||||||||
Tenants/Guarantors |
| Location |
|
| Property | Amount |
| Interest Rate |
| Maturity Date |
|
|
|
|
|
| |||||||||||||||||||||
Corinthian Colleges, Inc. |
| Orlando | FL |
| Office |
| $ 9,975 |
| 5.72% |
| Feb-2017 |
|
|
|
|
|
|
| |||||||||||||||||||
Atlas Cold Storage |
| McDonough | GA |
| Industrial |
| $ 23,000 |
| 6.11% |
| Nov-2017 |
|
|
|
|
|
|
| |||||||||||||||||||
Hagemeyer North American, Inc. | Charleston | SC |
| Office |
| $ 7,350 |
| 5.85% |
| Feb-2021 |
|
|
|
|
|
|
| ||||||||||||||||||||
|
|
|
|
|
|
| $ 40,325 |
| 5.97% |
|
|
|
|
|
|
|
| ||||||||||||||||||||
Page 6
Lexington Realty Trust |
2007 First Quarter Transaction Summary (continued) |
($000) |
New Leases | |||||||||||||||||
Tenants/Guarantors |
| Location |
|
| Property Type | Term |
| Sq. Ft. |
| Rent Per Annum |
|
|
|
| |||
Kohl’s Department Stores, Inc. |
| Tallahassee | FL |
| Retail |
| Feb-2028 |
| 90,000 |
| $ 400 |
|
|
|
|
|
|
Zwicker & Associates, P.C. |
| Hebron | KY |
| Office |
| Mar-2012 |
| 12,356 |
| $ 62 |
|
|
|
|
|
|
Ferris, Baker Watts, Inc. |
| Baltimore | MD |
| Office |
| Sep-2016 |
| 45,909 |
| $ 1,277 |
|
|
|
|
|
|
The Center Club, Inc. |
| Baltimore | MD |
| Office |
| Sep-2019 |
| 31,306 |
| $ 612 |
|
|
|
|
|
|
Quaker Sales & Distribution, Inc. | New Kingston | PA |
| Industrial |
| Feb-2008 |
| 179,200 |
| $ 627 |
|
|
|
|
|
| |
Comprehensive Logistics Inc. |
| Antioch | TN |
| Industrial |
| 8/07 & 12/07 |
| 300,700 |
| $ 942 |
|
|
|
|
|
|
General Electric Company |
| Richmond | VA |
| Office |
| May-2012 |
| 24,375 |
| $ 439 |
|
|
|
|
|
|
Clegg, Daniels & Petrey, LLC |
| Decatur | GA |
| Office |
| Mar-2013 |
| 1,846 |
| $ 40 |
|
|
|
|
|
|
Packet 360, Inc. |
| Richmond | VA |
| Office |
| Mar-2014 |
| 10,273 |
| $ 190 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 695,965 |
| $ 4,589 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease Extensions | |||||||||||||||||
Tenants/Guarantors |
| Location |
|
| Property Type | Term |
| Sq. Ft. |
| Rent Per Annum |
|
|
|
| |||
Mervyn’s |
| Tustin | CA |
| Retail |
| Dec-2012 |
| 72,000 |
| $ 100 |
|
|
|
|
|
|
Damar Services, Inc. |
| Indianapolis | IN |
| Office |
| Mar-2008 |
| 5,756 |
| $ 40 |
|
|
|
|
|
|
Safeway Stores, Inc. |
| Minden | LA |
| Retail |
| Nov-2012 |
| 35,000 |
| $ 193 |
|
|
|
|
|
|
Food Lion, LLC |
| Jacksonville | NC |
| Retail |
| Feb-2013 |
| 23,000 |
| $ 84 |
|
|
|
|
|
|
Food Lion, LLC |
| Jefferson | NC |
| Retail |
| Feb-2013 |
| 23,000 |
| $ 73 |
|
|
|
|
|
|
Food Lion, LLC |
| Lexington | NC |
| Retail |
| Feb-2013 |
| 23,000 |
| $ 138 |
|
|
|
|
|
|
Food Lion, LLC |
| Moncks Corner | SC |
| Retail |
| Feb-2013 |
| 23,000 |
| $ 62 |
|
|
|
|
|
|
Dana Corporation |
| Gordonsville | TN |
| Industrial |
| Aug-2012 |
| 148,000 |
| $ 355 |
|
|
|
|
|
|
Worthington Direct, Inc. |
| Dallas | TX |
| Office |
| Jan-2012 |
| 3,621 |
| $ 53 |
|
|
|
|
|
|
Middleburg Riddle & Gianna |
| Dallas | TX |
| Office |
| Dec-2011 |
| 2,558 |
| $ 35 |
|
|
|
|
|
|
Safeway Stores, Inc. |
| Granbury | TX |
| Retail |
| Nov-2012 |
| 35,000 |
| $ 203 |
|
|
|
|
|
|
Safeway Stores, Inc. |
| Hillsboro | TX |
| Retail |
| Nov-2012 |
| 35,000 |
| $ 161 |
|
|
|
|
|
|
Food Lion, LLC |
| Staunton | VA |
| Retail |
| Feb-2013 |
| 23,000 |
| $ 166 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 451,935 |
| $ 1,663 |
|
|
|
|
|
|
Page 7
LEXINGTON REALTY TRUST |
Consolidated Properties |
3/31/07 |
|
| Property Location | City | State | Primary Tenant (Guarantor) | Property Net Rentable Sq.Ft. |
|
1 |
| 12209 W. Markham St. | Little Rock | AR | Entergy Arkansas, Inc. | 36,311 |
|
2 |
| 5201 West Barraque St. | Pine Bluff | AR | Entergy Services, Inc. | 27,189 |
|
3 |
| 19019 No. 59th Ave. | Glendale | AZ | Honeywell, Inc. | 252,300 |
|
4 |
| 2211 South 47th St. | Phoenix | AZ | Avnet, Inc. | 176,402 |
|
5 |
| 13430 N. Black Canyon Fwy. | Phoenix | AZ | Bull HN Information Systems, Inc. | 87,259 |
|
|
|
|
|
| VACANT | 49,799 |
|
6 |
| 2005 East Technology Cir. | Tempe | AZ | (i) Structure, LLC (Infocrossing, Inc.) | 60,000 |
|
7 |
| 8555 South River Pkwy. | Tempe | AZ | ASM Lithography Holding NV | 95,133 |
|
8 |
| 1440 East 15th St. | Tucson | AZ | Cox Communications, Inc. | 28,591 |
|
9 |
| 2200 & 2222 East Imperial Hwy. 3 | El Segundo | CA | Raytheon Company | 184,636 |
|
10 |
| 2230 East Imperial Hwy. 1 | El Segundo | CA | Raytheon Company/Direct TV | 184,636 |
|
11 |
| 17770 Cartwright Rd. | Irvine | CA | Associates First Capital Corporation | 200,000 |
|
12 |
| 26210 and 26220 Enterprise Court | Lake Forest | CA | Apria Healthcare Group, Inc. | 100,012 |
|
13 |
| 1500 Hughes Way | Long Beach | CA | Raytheon Company | 478,437 |
|
14 |
| 27016 Media Center Dr. | Los Angeles | CA | Playboy Enterprises, Inc. | 83,252 |
|
15 |
| 5724 W. Las Positas Blvd. | Pleasanton | CA | NK Leasehold | 41,760 |
|
16 |
| 255 California St. | San Francisco | CA | Multi-Tenanted | 142,239 |
|
|
|
|
|
| VACANT | 27,607 |
|
17 |
| 599 Ygnacio Valley Rd. | Walnut Creek | CA | Hercules Credit, Inc. | 54,528 |
|
18 |
| 5550 Tech Center Dr. | Colorado Spring | CO | Federal Express Corporation | 71,000 |
|
19 |
| 3940 South Teller St. | Lakewood | CO | Travelers Express, Inc | 68,165 |
|
20 |
| 10 John St. | Clinton | CT | Chesebrough Ponds (Unilever United States, Inc.) | 41,188 |
|
21 |
| 200 Executive Blvd. S | Southington | CT | Hartford Fire Insurance Co. | 153,364 |
|
22 |
| 100 Barnes Rd. | Wallingford | CT | Minnesota Mining and Manufacturing Company | 44,400 |
|
23 |
| 5600 Broken Sound Blvd | Boca Raton | FL | Océ Printing Systems USA, Inc. | 143,290 |
|
24 |
| 12600 Gateway Blvd. | Fort Meyers | FL | Gartner, Inc. | 62,400 |
|
25 |
| 2310 Village Square Pkwy. | Jacksonville | FL | AmeriCredit Corporation | 85,000 |
|
26 |
| 9200 South Park Center Loop | Orlando | FL | Corinthian Colleges, Inc. | 59,927 |
|
27 |
| 6277 Sea Harbor Dr. | Orlando | FL | Harcourt Brace & Company | 357,280 |
|
28 |
| Sandlake Rd./Kirkman Rd. | Orlando | FL | Lockheed Martin Corporation | 184,000 |
|
29 |
| 4200 RCA Blvd. | Palm Beach Gardens | FL | The Wackenhut Corp. | 114,518 |
|
30 |
| 10419 North 30th St. | Tampa | FL | Time Customer Service, Inc. (Time, Inc.) | 132,981 |
|
31 |
| 6303 Barfield Rd. & 859 Mount Vernon Hwy. | Atlanta | GA | Internet Security Systems, Inc. | 289,000 |
|
Page 8
LEXINGTON REALTY TRUST |
Consolidated Properties |
3/31/07 |
|
| Property Location | City | State | Primary Tenant (Guarantor) | Property Net Rentable Sq.Ft. |
|
32 |
| 4000 Johns Creek Pkwy. | Atlanta | GA | Kraft Foods N.A., Inc. | 87,219 |
|
33 |
| 160 Clairemont Ave. | Decatur | GA | Allied Holdings, Inc. | 112,248 |
|
34 |
| King St. | Honolulu | HI | Multi –Tenanted | 206,535 |
|
|
|
|
|
| VACANT | 5,296 |
|
35 |
| 1275 NW 128th St. | Clive | IA | Principal Life Insurance Company | 61,180 |
|
36 |
| 850-950 Warrenville Rd. | Lisle | IL | National Louis University | 99,414 |
|
37 |
| 700 Oakmont Lane | Westmont | IL | North American Van Lines, Inc. (SIRVA, Inc.) | 269,715 |
|
38 |
| 500 Jackson St. | Columbus | IN | Cummins Engine Company Inc. | 390,100 |
|
39 |
| 5757 Decatur Blvd. | Indianapolis | IN | Allstate Insurance Co. | 89,956 |
|
40 |
| 10475 Crosspoint Blvd. | Indianapolis | IN | John Wiley & Sons, Inc. | 141,047 |
|
41 |
| 2300 Litton Lane | Hebron | KY | AGC Automotive Americas Co. | 30,706 |
|
|
|
|
|
| VACANT | 49,714 |
|
42 |
| 313 Carondelet | New Orleans | LA | Hibernia Corporation | 222,432 |
|
43 |
| 1111 Tulane St. | New Orleans | LA | Hibernia Corporation | 180,595 |
|
44 |
| 147 Milk St. | Boston | MA | Harvard Vanguard Medical Assoc. | 52,337 |
|
45 |
| 270 Billerica Rd. | Chelmsford | MA | Cadence Design Systems | 100,000 |
|
46 |
| 33 Commercial St. | Foxboro | MA | Invensys Systems, Inc. (Siebe, Inc.) | 164,689 |
|
47 |
| 70 Mechanic St. | Foxboro | MA | Invensys Systems, Inc. (Siebe, Inc.) | 251,914 |
|
48 |
| 250 Turnpike Rd. | Southborough | MA | Honeywell Consumer Products | 57,698 |
|
49 |
| 100 Light St. | Baltimore | MD | St. Paul Fire and Marine Insurance Co. | 530,000 |
|
50 |
| 3165 McKelvey Rd. | Bridgeton | MO | BJC Health System | 52,994 |
|
51 |
| 27404 Drake Rd. | Farmington Hills | MI | VACANT | 111,454 |
|
52 |
| 12000 Tech Center Dr. | Livonia | MI | Kelsey-Hayes Company | 80,230 |
|
53 |
| 26555 Northwestern Hwy. | Southfield | MI | Federal-Mogul Corporation | 187,163 |
|
54 |
| 3943 Denny Ave. | Pascagoula | MS | Northrop Grumman Systems Corporation | 94,841 |
|
55 |
| 11707 Miracle Hills Dr. | Omaha | NE | (i) Structure, LLC (Infocrossing, Inc.) | 86,800 |
|
56 |
| 700 US Hwy Route 202-206 | Bridgewater | NJ | Biovail Pharmaceuticals, Inc. | 115,558 |
|
57 |
| 200 Milik St. | Carteret | NJ | Pathmark Stores, Inc. | 96,400 |
|
58 |
| 288 North BRd. St. | Elizabeth | NJ | Bank of America | 30,000 |
|
59 |
| 656 Plainsboro Rd. | Plainsboro | NJ | Bank of America | 2,000 |
|
60 |
| 333 Mt. Hope Ave. | Rockway | NJ | BASF Corporation | 95,500 |
|
61 |
| 1415 Wyckoff Rd. | Wall Township | NJ | New Jersey Natural Gas Co. | 157,511 |
|
62 |
| 29 South Jefferson Rd. | Whippany | NJ | CAE SimuFlite, Inc. | 76,363 |
|
63 |
| 6226 West Sahara Ave. | Las Vegas | NV | Nevada Power Company | 282,000 |
|
64 |
| 180 South Clinton St. | Rochester | NY | Frontier Corporation | 226,000 |
|
65 |
| 5550 Britton Pkwy. | Hilliard | OH | BMW Financial Services NA, LLC | 220,966 |
|
66 |
| 9333 Springsboro Pike | Miamisburg | OH | Reed Elsevier, Inc. | 61,229 |
|
Page 9
LEXINGTON REALTY TRUST |
Consolidated Properties |
3/31/07 |
|
| Property Location | City | State | Primary Tenant (Guarantor) | Property Net Rentable Sq.Ft. |
|
|
| CONSOLIDATED OFFICE PROPERTIES |
|
|
|
| |
67 |
| 9393 Springsboro Pike | Miamisburg | OH | Reed Elsevier, Inc. | 85,873 |
|
68 |
| 4848 129th East Ave. | Tulsa | OK | Metris Companies, Inc. | 101,100 |
|
69 |
| 2999 SW 6th St. | Redmond | OR | Voice Stream PCS I LLC (T-Mobile USA, Inc.) | 77,484 |
|
70 |
| 265 Lehigh St. | Allentown | PA | Wachovia Bank N.A. | 71,230 |
|
71 |
| 180 Rittenhouse Cir. | Bristol | PA | Jones Apparel Group USA, Inc. (Jones Apparel Group, Inc.) | 96,000 |
|
72 |
| 250 Rittenhouse Cir. | Bristol | PA | Jones Apparel Group USA, Inc. (Jones Apparel Group, Inc.) | 255,019 |
|
73 |
| 2550 Interstate Dr. | Harrisburg | PA | AT&T Wireless Services, Inc. | 81,859 |
|
74 |
| 1701 Market St. | Philadelphia | PA | Morgan Lewis & Bockius LLC | 321,815 |
|
75 |
| 2750 Monroe Blvd. | Valley Forge | PA | Quest Diagnostics, Inc. | 109,281 |
|
76 |
| 1460 Tobias Gadsen Blvd. | Charleston | SC | Hagemeyer North American, Inc. | 50,076 |
|
77 |
| 2210 Enterprise Dr. | Florence | SC | Washington Mutual Home Loans, Inc. | 177,747 |
|
78 |
| 3480 Stateview Blvd. | Fort Mill | SC | Wells Fargo Bank N.A. | 169,218 |
|
79 |
| 3476 Stateview Blvd. | Fort Mill | SC | Wells Fargo Home Mortgage, Inc. | 169,083 |
|
80 |
| 701 Brookfield Pkwy. | Greenville | SC | Verizon Wireless | 192,884 |
|
81 |
| Nijborg 15 & 17, 3927 DA | Renswoude | Netherlands | AS Watson (Health & Beauty Continental Europe) | 122,450 |
|
82 |
| 207 Mockingbird Lane | Johnson City | TN | Sun Trust Bank | 63,800 |
|
83 |
| 420 Riverport Rd. | Kingport | TN | American Electric Power | 42,770 |
|
84 |
| 2401 Cherahala Blvd. | Knoxville | TN | Advance PCS, Inc. | 59,748 |
|
85 |
| 1409 Centerpoint Blvd. | Knoxville | TN | Alstom Power, Inc. | 84,404 |
|
86 |
| 104 & 110 South Front St. | Memphis | TN | Hnedak Bobo Group, Inc. | 37,229 |
|
87 |
| 3965 Airways Blvd. | Memphis | TN | Federal Express Corporation | 521,286 |
|
88 |
| 800 Ridgelake Blvd. | Memphis | TN | The Kroger Co. | 75,000 |
|
89 |
| 350 Pine St. | Beaumont | TX | Entergy Gulf States | 427,104 |
|
90 |
| 3535 Calder Ave. | Beaumont | TX | Wells Fargo & Co. | 49,689 |
|
91 |
| 1900 L. Don Dodson Dr. | Bedford | TX | VACANT | 206,905 |
|
92 |
| 4201 Marsh Lane | Carrollton | TX | Carlson Restaurants Worldwide, Inc. | 130,000 |
|
93 |
| 555 Dividend Dr. | Coppell | TX | Brinks, Inc. | 101,844 |
|
94 |
| 601 & 701 Experian Pkwy. | Dallas | TX | Experian Information Solutions, Inc. (TRW Inc.) | 292,700 |
|
Page 10
LEXINGTON REALTY TRUST |
Consolidated Properties |
3/31/07 |
|
| Property Location | City | State | Primary Tenant (Guarantor) | Property Net Rentable Sq.Ft. |
|
95 |
| 1600 Viceroy Dr. | Dallas | TX | TFC Services (Freeman Decorating Co.) | 156,592 |
|
|
|
|
|
| VACANT | 92,860 |
|
96 |
| 2010 Alderson Dr. | Dallas | TX | Multi-Tenanted | 104,243 |
|
|
|
|
|
| VACANT | 69,612 |
|
97 |
| 1200 Jupiter Rd. | Garland | TX | Raytheon Company | 278,759 |
|
98 |
| 10001 Richmond Ave. | Houston | TX | Baker Hughes, Inc. | 554,385 |
|
99 |
| 2529 West Thorns Dr. | Houston | TX | Baker Hughes, Inc. | 65,500 |
|
100 |
| 810 & 820 Gears Rd. | Houston | TX | IKON Office Solutions, Inc. | 157,790 |
|
101 |
| 16676 Northchase Dr. | Houston | TX | Kerr-McGee Oil and Gas Corporation | 101,111 |
|
102 |
| 26410 McDonald Rd. | Houston | TX | Montgomery County Management Company LLC | 41,000 |
|
103 |
| 1311 Broadfield Blvd. | Houston | TX | Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.) | 155,991 |
|
104 |
| 6200 Northwest Pkwy. | San Antonio | TX | PacifiCare Health Systems, Inc. | 142,500 |
|
105 |
| 12645 W. Airport Rd. | Sugar Land | TX | Baker Hughes, Inc. | 165,836 |
|
106 |
| 11555 University Blvd. | Sugarland | TX | KS Management Services, LLP (St. Luke’s Episcopal Health System Corporation) | 72,683 |
|
107 |
| 1600 Eberhardt Rd. | Temple | TX | Nextel of Texas | 108,800 |
|
108 |
| 295 Chipeta Way | Salt Lake City | UT | Northwest Pipeline Corp. | 295,000 |
|
109 |
| 400 Butler Farm Rd. | Hampton | VA | Nextel Communications of the Mid-Atlantic, Inc. | 100,632 |
|
110 |
| 421 Butler Farm Rd. | Hampton | VA | Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company) | 56,515 |
|
111 |
| 13651 McLearen Rd. | Herndon | VA | Boeing North American Services, Inc. (The Boeing Company) | 159,664 |
|
112 |
| 2800 Waterford Lake Dr. | Richmond | VA | Alstom Power, Inc | 99,057 |
|
113 |
| 9950 Mayland Dr. | Richmond | VA | Circuit City Stores, Inc. | 288,562 |
|
114 |
| 6455 State Hwy 303 NE | Bremerton | WA | Nextel West Corporation | 60,200 |
|
115 |
| 849 Front St. | Evanston | WY | Multi-Tenanted | 13,852 |
|
|
|
|
|
| VACANT | 8,442 |
|
115 |
| Consolidated Office Properties Total |
|
|
| 16,719,592 |
|
|
|
|
|
|
|
|
|
Page 11
LEXINGTON REALTY TRUST |
Consolidated Properties |
3/31/07 |
|
| Property Location | City | State | Primary Tenant (Guarantor) | Property Net Rentable Sq.Ft. |
|
|
| CONSOLIDATED INDUSTRIAL PROPERTIES |
|
|
|
| |
1 |
| Moody Commuter & Tech Park | Moody | AL | TNT Logistics North America, Inc. (TPG N.V.) | 595,346 |
|
2 |
| 3501 West Ave. H | Lancaster | CA | Michaels Stores, Inc. | 762,775 |
|
3 |
| 1665 Hughes Way | Long Beach | CA | Raytheon Company | 200,541 |
|
4 |
| 3333 Coyote Hill Rd. | Palo Alto | CA | Xerox Corporation | 123,000 |
|
5 |
| 109 Stevens St. | Jacksonville | FL | Unisource Worldwide, Inc | 168,800 |
|
6 |
| 2455 Premier Dr. | Orlando | FL | Walgreen Co. | 205,016 |
|
7 |
| 3102 Queen Palm Dr. | Tampa | FL | Time Customer Service, Inc. (Time, Inc.) | 229,605 |
|
8 |
| 359 Gateway Dr. | Livonia | GA | TI Group Automotive Systems, LLC | 133,221 |
|
9 |
| 1420 Greenwood Rd. | McDonough | GA | Atlas Cold Storage America LLC | 201,583 |
|
10 |
| 7500 Chavenelle Rd. | Dubuque | IA | The McGraw-Hill Companies, Inc. | 330,988 |
|
11 |
| 2280 Northeast Dr. | Waterloo | IA | Ryder Integrated Logistics, Inc. (Ryder Systems, Inc.) | 276,480 |
|
12 |
| 3600 Southgate Dr. | Danville | IL | Sygma Network, Inc. (Sysco Corporation) | 149,500 |
|
13 |
| 749 Southrock Dr. | Rockford | IL | Jacobson Warehouse Company, Inc. (Jacobson Transportation Company, Inc.) | 150,000 |
|
14 |
| 3686 South Central Ave. | Rockford | IL | Jacobson Warehouse Company, Inc. (Jacobson Transportation Company, Inc.) | 90,000 |
|
15 |
| 2935 Van Vactor Way | Plymouth | IN | Bay Valley Foods, LLC | 300,500 |
|
16 |
| 10000 Business Blvd. | Dry Ridge | KY | Dana Corporation | 336,350 |
|
17 |
| 750 N. Black Branch Rd. | Elizabethtown | KY | Dana Corporation | 539,592 |
|
18 |
| 730 N. Black Branch Rd. | Elizabethtown | KY | Dana Corporation | 167,770 |
|
19 |
| 301 Bill Breyer Rd. | Hopkinsville | KY | Dana Corporation | 424,904 |
|
20 |
| 4010 Airpark Dr. | Owensboro | KY | Dana Corporation | 251,041 |
|
21 |
| 1901 Ragu Dr. | Owensboro | KY | Ragu Foods, Inc (Unilever United States, Inc.) | 443,380 |
|
22 |
| 7150 Exchequer Dr. | Baton Rouge | LA | Corporate Express Office Products, Inc. (Buhrmann, N.V.) | 79,086 |
|
23 |
| 5001 Greenwood Rd. | Shreveport | LA | Libbey Glass, Inc. | 646,000 |
|
24 |
| North Wells Rd. | North Berwick | ME | United Technologies Corp. | 820,868 |
|
25 |
| 4425 Purks Rd. | Auburn Hills | MI | VACANT | 183,717 |
|
26 |
| 6938 Elm Valley Dr. | Kalamazoo | MI | Dana Corporation | 150,945 |
|
27 |
| 12025 Tech Center Dr. | Livonia | MI | Kelsey-Hayes Company | 100,000 |
|
28 |
| 1601 Pratt Ave. | Marshall | MI | Joseph Campbell Company | 58,300 |
|
29 |
| 904 Industrial Rd. | Marshall | MI | Tenneco Automotive Operating Company, Inc. (Tenneco Automotive, Inc.) | 195,640 |
|
30 |
| 46600 Port St. | Plymouth | MI | Johnson Controls, Inc. | 134,160 |
|
31 |
| 1901 49th Ave. | Minneapolis | MN | Owens Corning | 18,620 |
|
32 |
| 7670 Hacks Cross Rd. | Olive Branch | MS | Dana Corporation | 268,100 |
|
33 |
| 324 Industrial Park Rd. | Franklin | NC | SKF USA, Inc. | 72,868 |
|
Page 12
LEXINGTON REALTY TRUST |
Consolidated Properties |
3/31/07 |
|
| Property Location | City | State | Primary Tenant (Guarantor) | Property Net Rentable Sq.Ft. |
|
34 |
| 1133 Poplar Creek Rd. | Henderson | NC | Corporate Express Office Products, Inc. (Buhrmann, N.V.) | 196,946 |
|
35 |
| 250 Swathmore Ave. | High Point | NC | Steelcase, Inc. | 244,851 |
|
36 |
| 2880 Kenny Biggs Rd. | Lumberton | NC | Quickie Manufacturing Corp. | 308,000 |
|
37 |
| 2203 Sherrill Dr. | Statesville | NC | LA-Z-Boy Greensboro, Inc. (LA-Z-Boy Incorporated) | 639,600 |
|
38 |
| 75 North St. | Saugerties | NY | Rotron Inc. (EG&G) | 52,000 |
|
39 |
| 10590 Hamilton Ave. | Cincinnati | OH | The Hillman Group, Inc. | 247,000 |
|
40 |
| 300 McCormick Rd. | Columbus | OH | Ameritech Services, Inc. | 20,000 |
|
41 |
| 1650-1654 Williams Rd. | Columbus | OH | ODW Logistics, Inc.. | 744,800 |
|
42 |
| 7005 Cochran Rd. | Glenwillow | OH | Royal Appliance Mfg. Co. | 458,000 |
|
43 |
| 6500 Adelaide Court | Groveport | OH | Anda Pharmaceuticals, Inc. (Andrx Corporation) | 354,676 |
|
44 |
| 200 Arrowhead Dr. | Hebron | OH | Owens Corning Sales, Inc. | 400,522 |
|
45 |
| 191 Arrowhead Dr. | Hebron | OH | Owens Corning Sales, Inc. | 250,410 |
|
46 |
| 450 Stern St. | Oberlin | OH | Johnson Controls, Inc. | 111,160 |
|
47 |
| 541 Perkins Jones Rd. | Warren | OH | Kmart Corp. | 1,462,642 |
|
48 |
| 6345 Brackbill Blvd. | Mechanicsburg | PA | Exel Logistics, Inc. (NFC plc) | 507,000 |
|
49 |
| 245 Salem Church Rd. | Mechanicsburg | PA | Exel Logistics, Inc. (NFC plc) | 252,000 |
|
50 |
| 6 Doughten Rd. | New Kingston | PA | Exel Logistics, Inc. (NFC plc) | 330,000 |
|
51 |
| 34 East Main St. | New Kingston | PA | Quaker Sales & Distribution, Inc. | 179,200 |
|
52 |
| 590 Ecology Lane | Chester | SC | Owens Corning | 420,597 |
|
53 |
| 159 Farley Dr. | Dillon | SC | Harbor Freight Tools USA, Inc. (Central Purchasing, Inc.) | 1,010,859 |
|
54 |
| US Hwy. 17 | North Myrtle Beach | SC | Food Lion, Inc. | 36,828 |
|
55 |
| 477 Distribution Pkwy. | Collierville | TN | Federal Express Corporation | 120,000 |
|
56 |
| 900 Industrial Blvd. | Crossville | TN | Dana Corporation | 222,200 |
|
57 |
| 120 South East Pkwy. Dr. | Franklin | TN | United Technologies Corp. | 289,330 |
|
58 |
| 187 Spicer Dr. | Gordonsville | TN | Dana Corporation | 148,000 |
|
59 |
| 3350 Miac Cove Rd. | Memphis | TN | Mimeo.com, Inc. | 107,400 |
|
|
|
|
|
| VACANT | 33,959 |
|
60 |
| 3456 Meyers Ave. | Memphis | TN | Sears, Roebuck & Company | 780,000 |
|
61 |
| 3820 Micro Dr. | Millington | TN | Ingram Micro, L.P (Ingram Micro, Inc) | 701,819 |
|
62 |
| 9110 Grogans Mill Rd. | Houston | TX | Baker Hughes, Inc. | 275,750 |
|
63 |
| 300 Bennett Lane | Lewisville | TX | Xerox Corporation | 256,000 |
|
64 |
| 19500 Bulverde Rd. | San Antonio | TX | Harcourt Brace & Company (Reed Elsevier, Inc.) | 559,258 |
|
65 |
| 2425 Hwy. 77 North | Waxahachie | TX | James Hardie Building Products, Inc. (James Hardie NV) | 425,816 |
|
66 |
| 4400 State Rd. 19 | Windsor | WI | Walgreen Co. | 356,000 |
|
66 |
| Consolidated Industrial Properties Total |
|
|
| 21,311,319 |
|
|
|
|
|
|
|
|
|
Page 13
LEXINGTON REALTY TRUST |
Consolidated Properties |
3/31/07 |
|
| Property Location | City | State | Primary Tenant (Guarantor) | Property Net Rentable Sq.Ft. |
|
|
| CONSOLIDATED RETAIL/OTHER PROPERTIES |
|
|
|
| |
1 |
| 302 Croxcreek Pkwy. | Florence | AL | The Kroger Co. | 42,130 |
|
2 |
| 5544 Atlanta Hwy. | Montgomery | AL | Beasley Development LLC | 60,698 |
|
3 |
| Bisbee Naco Hwy. & Hwy. 92 | Bisbee | AZ | Safeway Stores, Inc.. | 30,181 |
|
4 |
| 25 E. McKellips Rd. | Mesa | AZ | CSK Auto (Albertsons Inc.) | 2,660 |
|
5 |
| 10415 Grande Ave. | Sun City | AZ | Furrs Cafeterias Operators LP | 10,000 |
|
6 |
| Grant Rd. & Craycroft | Tucson | AZ | Safeway Stores, Inc. | 37,268 |
|
7 |
| 7470 El Camino Real | Atascadero | CA | CSK Auto (Albertsons Inc.) | 4,000 |
|
8 |
| 635 Highland Spring Rd. | Beaumont | CA | CSK Auto (Albertsons Inc.). | 4,000 |
|
9 |
| 185 Washburn Cir. | Corona | CA | Mark C. Bloome (Goodyear) | 9,400 |
|
10 |
| 2200/2230 & 2222 E. Imperial Hwy. 2 | El Segundo | CA | Raytheon Company | 959,000 |
|
11 |
| 810124 Hwy. 111 | Indio | CA | Mark C. Bloome (Goodyear) | 9,600 |
|
12 |
| 24100 Laguna Hills Mall | Laguna Hills | CA | Federated Department Stores, Inc. (Macy's) | 160,000 |
|
13 |
| 22765 Aspan St. | Lake Forest | CA | Mark C. Bloome (Goodyear) | 10,250 |
|
14 |
| Old Mammoth Rd./Meridian Blvd | Mammoth Lakes | CA | Safeway Stores, Inc. | 44,425 |
|
15 |
| 15745 Monterey Rd. | Morgan Hill | CA | Gerard Tire Services (Goodyear) | 10,250 |
|
16 |
| 2044 West Main St. | Paso Robles | CA | CSK Auto (Albertsons Inc.) | 7,000 |
|
17 |
| 1400 Stoneridge Mall | Pleasanton | CA | Federated Department Stores, Inc. (Macy's) | 175,000 |
|
18 |
| 1631 West Redlands Blvd. | Redlands | CA | Mark C. Bloome (Goodyear) | 11,200 |
|
19 |
| 270 Fashion Valley Rd. | San Diego | CA | Nordstrom, Inc. | 225,919 |
|
20 |
| 315 Colorado Ave. | Santa Monica | CA | Federated Department Stores, Inc. (Macy's) | 150,000 |
|
21 |
| 121 South Center St. | Stockton | CA | Greyhound Lines, Inc. | 17,000 |
|
22 |
| 18182 Irvine Blvd. | Tustin | CA | Mervyn’s | 72,000 |
|
23 |
| 34734 Alvarado Niles Rd. | Union City | CA | Gerard Tire Services (Goodyear) | 10,800 |
|
24 |
| 500 East Harbor Blvd. | Ventura | CA | City of San Buenaventura | 39,600 |
|
25 |
| 17005 Imperial Hwy. | Yorba Linda | CA | Mark C. Bloome (Goodyear) | 10,800 |
|
26 |
| 12000 East Mississippi Ave. | Aurora | CO | Safeway Stores, Inc. | 24,000 |
|
27 |
| 15220 East 6th Ave. | Aurora | CO | VACANT | 41,384 |
|
28 |
| 101 Creger | Ft. Collins | CO | Lithia Motors | 10,000 |
|
29 |
| Kipling St. & Bowles Ave. | Littleton | CO | VACANT | 29,360 |
|
30 |
| 10340 U.S. 19 | Port Richey | FL | VACANT | 53,820 |
|
31 |
| 2010 Apalachee Pkwy. | Tallahassee | FL | Kohl's Department Stores, Inc. | 53,820 |
|
32 |
| 2223 North Druid Hills Rd. | Atlanta | GA | Bank of America | 6,260 |
|
33 |
| 956 Ponce de Leon Ave. | Atlanta | GA | Bank of America | 3,900 |
|
34 |
| 4545 Chamblee – Dunwoody Rd. | Chamblee | GA | Bank of America | 4,565 |
|
35 |
| 201 West Main St. | Cumming | GA | Bank of America | 14,208 |
|
Page 14
LEXINGTON REALTY TRUST |
Consolidated Properties |
3/31/07 |
|
| Property Location | City | State | Primary Tenant (Guarantor) | Property Net Rentable Sq.Ft. |
|
36 |
| 3468 Georgia Hwy. 120 | Duluth | GA | Bank of America | 9,300 |
|
37 |
| 1066 Main St. | Forest Park | GA | Bank of America | 14,859 |
|
38 |
| 825 Southway Dr. | Jonesboro | GA | Bank of America | 4,894 |
|
39 |
| 1698 Mountain Indus. Blvd. | Stone Mountain | GA | Bank of America | 5,704 |
|
40 |
| Fort St. Mall, King St. | Honolulu | HI | Liberty House, Inc. | 85,610 |
|
41 |
| 928 First Ave. | Rock Falls | IL | Rock Falls County Market | 27,650 |
|
42 |
| 502 East Carmel Dr. | Carmel | IN | Marsh Supermarkets, Inc. | 38,567 |
|
43 |
| 5104 North Franklin Rd. | Lawrence | IN | Marsh Supermarkets, Inc. | 28,721 |
|
44 |
| 2440 Bardstown Rd. (Supermarket) | Louisville | KY | The Kroger Co. | 40,019 |
|
45 |
| 2440 Bardstown Rd. | Louisville | KY | The Kroger Co. | 9,600 |
|
46 |
| 205 Homer Rd. | Minden | LA | Safeway Stores, Inc. | 35,000 |
|
47 |
| 7200 Cradle Rock Way | Columbia | MD | GFS Realty, Inc. | 57,209 |
|
48 |
| 9580 Livingston Rd. | Oxon Hill | MD | GFS Realty, Inc. (Giant Food, Inc.) | 107,337 |
|
49 |
| 2401 Wooton Pkwy. | Rockville | MD | GFS Realty, Inc. (Giant Food, Inc.) | 51,682 |
|
50 |
| 35400 Cowan Rd. | Westland | MI | Sam’s Real Estate Business Trust | 102,826 |
|
51 |
| 24th St. West & St. John’s Ave. | Billings | MT | Safeway Stores, Inc. | 40,800 |
|
52 |
| Little Rock Rd./Tuckaseegee Rd. | Charlotte | NC | Food Lion, Inc. | 33,640 |
|
53 |
| Brown Mill Rd./US 601 | Concord | NC | Food Lion, Inc. | 32,259 |
|
54 |
| Gum Branch Rd. | Jacksonville | NC | Food Lion, Inc. | 23,000 |
|
55 |
| US 221 & Hospital Rd. | Jefferson | NC | Food Lion, Inc. | 23,000 |
|
56 |
| 291 Talbet Blvd. | Lexington | NC | Food Lion, Inc. | 23,000 |
|
57 |
| Julian Ave./Clominger St. | Thomasville | NC | Food Lion, Inc. | 21,000 |
|
58 |
| 10 South Ave. | Garwood | NJ | Pathmark Stores, Inc. | 52,000 |
|
59 |
| 2910 Juan Tabo Blvd. | Albuquerque | NM | Safeway Stores, Inc. | 35,000 |
|
60 |
| 900 South Canal St.. | Carlsbad | NM | Furrs Cafeterias Operators LP | 10,000 |
|
61 |
| 2404 West Main St. | Farmington | NM | CSK Auto (Albertsons Inc.) | 3,030 |
|
62 |
| 2520 E. Bonanza Rd. | Las Vegas | NV | CSK Auto (Albertsons Inc.) | 2,800 |
|
63 |
| 130 Midland Ave. | Portchester | NY | Pathmark Stores, Inc. | 59,000 |
|
64 |
| 4831 Whipple Ave., N.W. | Canton | OH | Best Buy Co., Inc. | 46,350 |
|
65 |
| 4733 Hills & Dales Rd. | Canton | OH | Scandinavian Health Spa, Inc. (Bally Total Fitness Corp.) | 37,214 |
|
66 |
| 1606 North Bend Rd. | Cincinnati | OH | VACANT | 25,628 |
|
67 |
| 2000 East Main St. | Columbus | OH | The Kroger Co. | 34,019 |
|
68 |
| 1084 East Second St. | Franklin | OH | Marsh Supermarkets, Inc. | 29,119 |
|
69 |
| N.E.C. 45th St./Lee Blvd. | Lawton | OK | Safeway Stores, Inc. | 30,757 |
|
70 |
| 11411 N. Kelly Ave. | Oklahoma City | OK | American Golf Corporation | 13,924 |
|
71 |
| 6910 S. Memorial Hwy. | Tulsa | OK | Toys “R” Us, Inc. | 43,123 |
|
72 |
| 12535 S.E. 82nd Ave. | Clackamas | OR | Toys “R” Us, Inc. | 42,842 |
|
Page 15
LEXINGTON REALTY TRUST |
Consolidated Properties |
3/31/07 |
|
| Property Location | City | State | Primary Tenant (Guarantor) | Property Net Rentable Sq.Ft. |
|
73 |
| 1642 Williams Ave. | Grants Pass | OR | Safeway Stores, Inc. | 33,770 |
|
74 |
| 2655 Shasta Way | Klamath Falls | OR | Fred Meyer, Inc. | 178,204 |
|
75 |
| 150 N.E. 20th St. | Newport | OR | Fred Meyer, Inc. | 118,179 |
|
76 |
| 559 North Main St. | Doylestown | PA | Citizens Bank of Pennsylvania | 3,800 |
|
77 |
| 25 East Main St. | Lansdale | PA | Citizens Bank of Pennsylvania | 3,800 |
|
78 |
| 1055 West Baltimore Pike | Lima | PA | Citizens Bank of Pennsylvania | 3,800 |
|
79 |
| 4947 North BRd. St. | Philadelphia | PA | Citizens Bank of Pennsylvania | 3,800 |
|
80 |
| 2001-03 BRd. St. | Philadelphia | PA | Citizens Bank of Pennsylvania | 3,800 |
|
81 |
| 6201 North 5th St. | Philadelphia | PA | Citizens Bank of Pennsylvania | 3,800 |
|
82 |
| 7323-29 Frankford Ave. | Philadelphia | PA | Citizens Bank of Pennsylvania | 3,800 |
|
83 |
| 15 South 52nd St. | Philadelphia | PA | Citizens Bank of Pennsylvania | 3,800 |
|
84 |
| 10650 Bustleton Ave. | Philadelphia | PA | Citizens Bank of Pennsylvania | 3,800 |
|
85 |
| 1025 West Lehigh Ave. | Philadelphia | PA | Citizens Bank of Pennsylvania | 3,800 |
|
86 |
| 2014 Cottman Ave. | Philadelphia | PA | Citizens Bank of Pennsylvania | 3,800 |
|
87 |
| 4160 Monument Rd. | Philadelphia | PA | Pathmark Stores, Inc. | 50,000 |
|
88 |
| 15 Newton – Richboro Rd. | Richboro | PA | Citizens Bank of Pennsylvania | 3,800 |
|
89 |
| 363 West Lancaster Ave. | Wayne, PA | PA | Citizens Bank of Pennsylvania | 3,800 |
|
90 |
| 399 Peach Wood Centre Dr. | Spartanburg | SC | Best Buy Co., Inc. | 45,800 |
|
91 |
| S. Carlina 52/52 Bypass | Moncks Corner | SC | Food Lion, Inc. | 23,000 |
|
92 |
| 1600 East 23rd St. | Chattanooga | TN | The Kroger Co. | 42,130 |
|
93 |
| 1053 Mineral Springs Raod | Paris | TN | The Kroger Co. | 31,170 |
|
94 |
| 3040 Josey Lane | Carrollton | TX | Ong’s Family Inc. | 61,000 |
|
95 |
| 4121 South Port Ave. | Corpus Christi | TX | Furrs Cafeterias Operators LP | 10,000 |
|
96 |
| 1610 South Westmoreland Ave. | Dallas | TX | Malone’s Food Stores | 68,024 |
|
97 |
| 8960 Dyer St. | El Paso | TX | CSK Auto (Albertsons Inc.) | 2,625 |
|
98 |
| 6100 Alameda Ave. | El Paso | TX | CSK Auto (Albertsons Inc.) | 2,800 |
|
99 |
| 119 North Balboa Rd. | El Paso | TX | Furrs Cafeterias Operators LP | 10,000 |
|
100 |
| 3451 Alta Mesa Blvd. | Fort Worth | TX | Safeway Stores, Inc. | 44,000 |
|
101 |
| 101 West Buckingham Rd. | Garland | TX | Safeway Stores, Inc. | 40,000 |
|
102 |
| 1415 Hwy. 377 East | Granbury | TX | Safeway Stores, Inc. | 35,000 |
|
103 |
| 2500 E. Carrier Pkwy. | Grand Prairie | TX | Safeway Stores, Inc. | 49,349 |
|
104 |
| 4811 Wesley St. | Greenville | TX | Safeway Stores, Inc. | 48,427 |
|
105 |
| 120 South Waco St. | Hillsboro | TX | Safeway Stores, Inc. | 35,000 |
|
106 |
| 13133 Steubner Ave | Houston | TX | The Kroger Co. | 52,200 |
|
107 |
| 3322 82nd St. | Lubbock | TX | CSK Auto (Albertsons Inc.) | 2,550 |
|
108 |
| 5402 4th St. | Lubbock | TX | VACANT | 53,820 |
|
109 |
| 901 West Expressway | McAllen | TX | Furrs Cafeterias Operators LP | 10,000 |
|
Page 16
LEXINGTON REALTY TRUST |
Consolidated Properties |
3/31/07 |
|
| Property Location | City | State | Primary Tenant (Guarantor) | Property Net Rentable Sq.Ft. |
|
110 |
| 25500 State Hwy 249 | Tomball | TX | Parkway Chevrolet, Inc. | 77,076 |
|
111 |
| 402 East Crestwood Dr. | Victoria | TX | Furrs Cafeterias Operators LP | 10,000 |
|
112 |
| 9400 South 755 East | Sandy | UT | VACANT | 41,612 |
|
113 |
| 3211 W. Beverly St. | Staunton | VA | Food Lion, Inc. | 23,000 |
|
114 |
| 9803 Edmonds Way | Edmonds | WA | VACANT | 35,459 |
|
115 |
| 224th St. & Meridan | Graham | WA | Safeway Stores, Inc. | 44,718 |
|
116 |
| 18601 Alderwood Mall Blvd. | Lynwood | WA | Toys “R” Us, Inc. | 43,105 |
|
117 |
| Meridan & 65th | Milton | WA | Safeway Stores, Inc. | 44,718 |
|
118 |
| 1700 State Route 160 | Port Orchard | WA | Jubilee Fun | 27,968 |
|
119 |
| 228th Ave., N.E. | Redmond | WA | Safeway Stores, Inc. | 44,718 |
|
120 |
| 4512 N Market | Spokane | WA | Safeway Stores, Inc | 38,905 |
|
121 |
| 3711 Gateway Dr. | Eau Claire | WI | Kohl’s Dept. Stores, Inc. | 76,164 |
|
122 |
| 3621 E Lincoln Way | Cheyenne | WY | VACANT | 31,420 |
|
123 |
| 849 Front St. | Evanston | WY | Bank of the West | 7,206 |
|
123 |
| Consolidated Retail / Other Properties Total |
|
| 5,277,498 |
| |
|
|
|
|
|
|
|
|
304 |
| Consolidated Portfolio Total |
|
|
| 43,308,409 |
|
Page 17
LEXINGTON REALTY TRUST |
Joint Venture Property Holdings |
3/31/2007 |
| LXP | Property Location | City | State | Primary Tenant (Guarantor) | Property Net |
|
| JOINT VENTURE OFFICE PROPERTIES |
|
|
|
|
1 | 30.51% | Route 64 West & Junction 333 | Russellville | AR | Entergy Gulf States | 191,950 |
2 | 25.00% | 275 South Valencia Ave. | Los Angeles | CA | Bank of America NT & SA | 637,503 |
3 | 30.00% | 350 Rhode Island St. | San Francisco | CA | California Culinary Academy, LLC (Career Education Corp.) | 125,344 |
4 | 30.00% | 100 Wood Hollow Dr. | Novato | CA | Greenpoint Mortgage Funding, Inc. | 124,600 |
5 | 30.00% | 10940 White Rock Rd. / 10929 Disk Dr. | Rancho Cordova | CA | Progressive Casualty Insurance Company | 158,582 |
6 | 30.00% | 27027 Tourney Rd. | Santa Clarita | CA | Specialty Laboratories, Inc. | 187,262 |
7 | 33.33% | 1110 Bayfield Dr. | Colorado Springs | CO | Honeywell International, Inc. | 166,575 |
8 | 30.00% | 9201 East Dry Creek Rd. | Centennial | CO | The Shaw Group, Inc. | 128,500 |
9 | 33.33% | 600 Business Center Dr. | Lake Mary | FL | First USA Management Services, Inc. | 125,155 |
10 | 33.33% | 550 Business Center Dr. | Lake Mary | FL | First USA Management Services, Inc. | 125,920 |
11 | 25.00% | 2500 Patrick Henry Pkwy | McDonough | GA | Georgia Power Company | 111,911 |
12 | 25.00% | 3265 East Goldstone Dr. | Meridian | ID | Voicestream PCS II Corporation (T-Mobile USA, Inc.) | 77,484 |
13 | 30.00% | 101 East Erie Building | Chicago | IL | Foote, Cone & Belding (Interpublic Group of Companies, Inc.) | 224,565 |
14 | 25.11% | 101 East Washington Blvd. | Fort Wayne | IN | American Electric Power | 348,452 |
15 | 33.33% | 10300 Kincaid Dr. | Fishers | IN | Bank One Indiana, N.A. | 193,000 |
16 | 25.00% | 5200 Metcalf Ave. | Overland Park | KS | GE Insurance Solutions (Employers Reinsurance Corporation) | 320,198 |
17 | 25.00% | 9601 Renner Blvd. | Lenexa | KS | Voicestream PCS II Corporation (T-Mobile USA, Inc.) | 77,484 |
18 | 30.00% | 4455 American Way | Baton Rouge | LA | Bell South Mobility, Inc. | 70,100 |
19 | 25.00% | First Park Dr. | Oakland | ME | Omnipoint Holdings, Inc. (T-Mobile USA, Inc.) | 78,610 |
20 | 33.33% | 3701 Corporate Dr. | Farmington Hills | MI | Motorola, Inc. | 119,829 |
21 | 25.00% | 9201 Stateline | Kansas City | MO | GE Insurance Solutions (Employers Reinsurance Corporation) | 166,641 |
22 | 30.00% | 200 Lucent Ln. | Cary | NC | Lucent Technologies, Inc. | 124,944 |
23 | 25.00% | 3601 Converse Dr. | Wilmington | NC | Verizon Wireless | 160,500 |
24 | 33.33% | 389-399 Interpace Hwy. Morris Corporate Center IV | Parsippany | NJ | Aventis Pharmaceuticals, Inc (Pharma Holdings GmbH) | 340,240 |
25 | 33.33% | 2000 Eastman Dr. | Milford | OH | Structural Dynamic Research Corp. | 212,836 |
26 | 40.00% | 3201 Quail Springs Pkwy. | Oklahoma City | OK | AT& T Wireless Services, Inc. | 128,500 |
27 | 30.00% | 275 Technology Dr. | Canonsburg | PA | ANSYS, Inc. | 107,872 |
28 | 30.00% | 70 Valley Stream Parkway | Malvern | PA | IKON Office Solutions, Inc. | 106,855 |
29 | 30.00% | 1475 Dunwoody Dr. | West Chester | PA | ING USA Annuity and Life Insurance Company | 125,000 |
30 | 40.00% | 17 Technology Cir. | Columbia | SC | Blue Cross Blue Shield of South Carolina Inc. | 456,304 |
31 | 30.00% | 2050 Roanoke Rd. | Westlake | TX | Chrysler Financial Company LLC | 130,290 |
32 | 30.00% | 11511 Luna Rd. | Farmers Branch | TX | Haggar Clothing Company | 180,507 |
Page 18
LEXINGTON REALTY TRUST |
Joint Venture Property Holdings |
3/31/2007 |
| LXP | Property Location | City | State | Primary Tenant (Guarantor) | Property Net |
33 | 25.00% | 4001 International Pkwy. | Carrollton | TX | Motel 6 Operating L.P. (Accor S.A.) | 138,443 |
34 | 30.00% | 8900 Freeport Pkwy | Irving | TX | Nissan Motor Acceptance Corporation/ (Nissan North America, Inc.) | 268,445 |
35 | 25.00% | 1401 & 1501 Nolan Ryan Parkway | Arlington | TX | Siemens Dematic Postal Automation, L.P. | 236,547 |
36 | 33.33% | 6555 Sierra Dr. | Irving | TX | True North Communications Inc. | 247,254 |
37 | 33.33% | 15375 Memorial Dr. | Houston | TX | Vastar Resources, Inc | 327,325 |
38 | 30.00% | 10300 Town Park Dr. | Houston | TX | Veritas DGC, Inc. | 218,641 |
39 | 30.00% | 3711 San Gabriel | Mission | TX | Voice Stream PCS II Corporation (T-Mobile USA, Inc.) | 75,016 |
40 | 30.00% | 110, 120 & 130 E. Shore Dr. | Glen Allen | VA | Capital One Services, Inc. | 225,220 |
41 | 30.00% | 13775 McLearen Rd. | Herndon | VA | Equant N.V. | 125,293 |
42 | 25.00% | 5150 220th Ave. | Issaquah | WA | Spacelabs Medical, Inc (OSI Systems, Inc.) | 106,944 |
43 | 25.00% | 22011 SE 51st St. | Issaquah | WA | Spacelabs Medical, Inc (OSI Systems, Inc.) | 95,600 |
43 |
| Joint Venture Office Properties Total |
|
|
| 7,898,241 |
|
|
|
|
|
|
|
|
| JOINT VENTURE INDUSTRIAL PROPERTIES | ||||
1 | 30.00% | 3245 Meridian Parkway | Weston | FL | Circuit City Stores, Inc. | 230,600 |
2 | 30.00% | 3225 Meridian Parkway | Weston | FL | Hagemeyer Foods, Inc. | 201,845 |
3 | 30.00% | 3600 Army Post Rd. | Des Moines | IA | EDS Information Services LLC (Electronic Data Systems Corporation) | 405,000 |
4 | 30.00% | 2400 West Haven Ave. | New Lenox | IL | Michaels Stores Procurement Company, Inc. (Michaels Stores, Inc.) | 693,185 |
5 | 33.33% | 7111 Crabb Rd. | Temperance | MI | TNT Logistics North America, Inc. (TPG N.V.) | 752,000 |
6 | 30.00% | 43955 Plymouth Oaks Blvd. | Plymouth | MI | Tower Automotive Products Company (Tower Automotive, Inc.) | 290,133 |
7 | 33.33% | 121 Technology Dr. | Durham | NH | Heidelberg Web Systems, Inc. | 500,500 |
8 | 30.00% | 1109 Commerce Blvd. | Logan Township | NJ | Linens-n-Things, Inc. | 262,644 |
9 | 30.00% | 736 Addison Rd. | Erwin | NY | Corning, Inc. | 408,000 |
10 | 25.00% | 10345 Philipp Parkway | Streetsboro | OH | L’Oreal USA, Inc. | 649,250 |
11 | 33.33% | 101 Michelin Dr. | Laurens | SC | TNT Logistics North America, Inc. (TPG N.V.) | 1,164,000 |
12 | 30.00% | 6050 Dana Way | Antioch | TN | W.M Wright Company | 647,400 |
|
|
|
|
| VACANT | 30,000 |
13 | 33.33% | 291 Park Center Dr. | Winchester | VA | Kraft Foods North America, Inc. | 344,700 |
13 |
| Joint Venture Industrial Properties Total |
|
|
| 6,579,257 |
|
|
|
|
|
|
|
Page 19
LEXINGTON REALTY TRUST |
Joint Venture Property Holdings |
3/31/2007 |
| LXP | Property Location | City | State | Primary Tenant (Guarantor) | Property Net |
|
| JOINT VENTURE RETAIL/OTHER PROPERTIES |
|
|
|
|
1 | 30.00% | 12080 Carmel Mountain Rd. | San Diego | CA | Kmart Corporation | 107,210 |
2 | 30.00% | 255 Northgate Dr. | Manteca | CA | Kmart Corporation | 107,489 |
3 | 30.00% | 1150 West Carl Sandburg Dr. | Galesburg | IL | Kmart Corporation | 94,970 |
4 | 30.00% | 21082 Pioneer Plaza Dr. | Watertown | NY | Kmart Corporation | 120,727 |
5 | 30.00% | 5350 Leavitt Rd. | Lorain | OH | Kmart Corporation | 193,193 |
6 | 23.98% | 1321 Commerce St. | Dallas | TX | Adolphus Associates (Met Life) | 498,122 |
7 | 30.00% | 97 Seneca Trail | Fairlea | WV | Kmart Corporation | 90,933 |
7 |
| Joint Venture Retail / Other Properties Total |
|
|
| 1,212,644 |
|
|
|
|
|
|
|
63 |
| Joint Venture Portfolio Total |
|
|
| 15,690,142 |
Page 20
Lexington Realty Trust |
Lease Rollover Schedule by Property Type - Cash Basis |
3/31/2007 |
|
|
|
|
|
|
|
|
|
|
|
|
| Office |
| Industrial |
| Retail | ||||||
| Square | Cash Rental | Rent |
| Square | Cash Rental | Rent |
| Square | Cash Rental | Rent |
Year | Feet | Revenue* | PSF |
| Feet | Revenue* | PSF |
| Feet | Revenue* | PSF |
|
|
|
|
|
|
|
|
|
|
|
|
2007 | 562,694 | $ 13,356 | $ 24.43 |
| 2,597,072 | $ 13,329 | $ 5.44 |
| 40,000 | $ 682 | $ 17.05 |
2008 | 2,525,852 | $ 34,272 | $ 20.63 |
| 1,463,579 | $ 146 | $ 7.61 |
| 501,559 | $ 6,777 | $ 13.84 |
2009 | 2,858,244 | $ 50,037 | $ 21.65 |
| 883,966 | $ 2,085 | $ 3.34 |
| 1,213,603 | $ 9,493 | $ 15.36 |
2010 | 2,300,355 | $ 19,809 | $ 13.51 |
| 1,885,413 | $ 5,773 | $ 3.06 |
| 90,800 | $ 590 | $ 6.50 |
2011 | 1,608,948 | $ 15,815 | $ 15.32 |
| 1,251,535 | $ 536 | $ 4.67 |
| 511,164 | $ 4,081 | $ 7.98 |
2012 | 1,963,179 | $ 19,396 | $ 12.69 |
| 4,707,134 | $ 11,007 | $ 4.15 |
| 738,425 | $ 5,272 | $ 7.16 |
2013 | 1,957,103 | $ 23,878 | $ 15.53 |
| 202,086 | $ 3,982 | $ 19.70 |
| 154,600 | $ 1,419 | $ 9.18 |
2014 | 2,716,818 | $ 34,844 | $ 16.51 |
| 1,055,160 | $ 3,927 | $ 3.72 |
| 267,337 | $ 496 | $ 1.85 |
2015 | 2,274,294 | $ 21,072 | $ 14.00 |
| 1,372,370 | $ 7,514 | $ 5.53 |
| 76,164 | $ 469 | $ 6.15 |
2016 | 1,198,136 | $ 10,162 | $ 16.78 |
| 1,655,158 | $ 6,180 | $ 4.20 |
| 225,919 | $ 1,600 | $ 7.08 |
2017 | 232,534 | $ 2,420 | $ 13.57 |
| 1,788,022 | $ 6,497 | $ 4.04 |
| 119,706 | $ 473 | $ 3.95 |
2018 | 740,924 | $ 5,955 | $ 12.34 |
| 744,800 | $ 1,347 | $ 1.81 |
| 1,943,876 | $ 4,668 | $ 3.85 |
2019 | 1,680,720 | $ 19,366 | $ 15.13 |
| 1,412,025 | $ 4,121 | $ 4.41 |
| - | $ - | $ - |
2020 | 344,659 | $ 5,214 | $ 18.53 |
| 666,037 | $ 4,892 | $ 7.51 |
| - | $ - | $ - |
2021 | 420,926 | $ 8,324 | $ 19.78 |
| 1,928,504 | $ 7,607 | $ 4.31 |
| 61,000 | $ 361 | $ 5.92 |
2022 | - | $ - | $ - |
| - | $ - | $ - |
| - | $ - | $ - |
2023 | - | $ - | $ - |
| - | $ - | $ - |
| - | $ - | $ - |
2024 | 187,262 | $ 1,069 | $ 19.02 |
| 693,185 | $ 568 | $ 2.73 |
| - | $ - | $ - |
2025 | 146,800 | $ 2,088 | $ 15.63 |
| 2,140,254 | $ 9,802 | $ 3.20 |
| - | $ - | $ - |
2026 | - | $ - | $ - |
| 1,146,500 | $ 2,895 | $ 3.27 |
| 77,076 | $ 1,624 | $ 23.16 |
2027 | - | $ - | $ - |
| - | $ - | $ - |
| - | $ - | $ - |
2028 | - | $ - | $ - |
| - | $ - | $ - |
| - | $ - | $ - |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average |
| $ 16.66 |
|
|
| $ 4.40 |
|
|
| $ 8.35 | |
|
|
|
|
|
|
|
|
|
|
|
|
Revenue in $000s |
|
|
|
|
|
|
|
|
|
| |
* Includes proportionate share of joint venture investments |
|
|
|
|
|
|
|
Page 21
LEXINGTON REALTY TRUST | ||||||||
Lease Rollover Schedule – GAAP Basis | ||||||||
3/31/2007 | ||||||||
($000s) | ||||||||
| Lease Expiration |
| Number of Leases |
| Annualized Base Rent |
| ||
|
|
| Total $ (1) |
| % of Total |
| ||
| 2007 |
| 35 |
| $ 28,551 |
| 6.4% |
|
| 2008 |
| 72 |
| $ 61,633 |
| 13.9% |
|
| 2009 |
| 67 |
| $ 60,908 |
| 13.7% |
|
| 2010 |
| 33 |
| $ 27,597 |
| 6.2% |
|
| 2011 |
| 31 |
| $ 22,898 |
| 5.2% |
|
| 2012 |
| 43 |
| $ 34,192 |
| 7.7% |
|
| 2013 |
| 28 |
| $ 35,527 |
| 8.0% |
|
| 2014 |
| 27 |
| $ 36,213 |
| 8.2% |
|
| 2015 |
| 23 |
| $ 31,042 |
| 7.0% |
|
| 2016 |
| 20 |
| $ 17,062 |
| 3.8% |
|
| 2017 |
| 9 |
| $ 7,370 |
| 1.7% |
|
| 2018 |
| 14 |
| $ 14,856 |
| 3.4% |
|
| 2019 |
| 18 |
| $ 22,793 |
| 5.1% |
|
| 2020 |
| 7 |
| $ 9,627 |
| 2.2% |
|
| 2021 |
| 10 |
| $ 15,867 |
| 3.6% |
|
| 2022 |
| 0 |
| $ - |
| - |
|
| 2023 |
| 0 |
| $ - |
| - |
|
| 2024 |
| 2 |
| $ 1,679 |
| 0.4% |
|
| 2025 |
| 8 |
| $ 12,096 |
| 2.7% |
|
| 2026 |
| 2 |
| $ 3,580 |
| 0.8% |
|
| Total |
| 449 |
| $ 443,491 |
| 100.0% |
|
|
|
|
|
|
|
|
|
|
| Lease Expiration Year |
| Lease Estimated Amortization |
| ||||
|
| Below Market |
| Above Market |
| Net |
| |
| 2007 - remaining |
| $ 13,077 |
| $ (27,276) |
| $ (14,199) |
|
| 2008 |
| $ 15,651 |
| $ (29,922) |
| $ (14,271) |
|
| 2009 |
| $ 15,548 |
| $ (10,868) |
| $ 4,680 |
|
| 2010 |
| $ 14,831 |
| $ (706) |
| $ 14,125 |
|
| 2011 |
| $ 14,590 |
| $ (706) |
| $ 13,884 |
|
|
|
|
|
|
|
|
|
|
| (1) Includes proportionate share of joint venture investments. |
|
|
| ||||
|
|
|
|
|
|
|
|
|
Page 22
LEXINGTON REALTY TRUST |
Motgages and Notes Payable |
3/31/2007 |
($000s) |
Property | Footnotes | Debt Balance | Interest Rate | Maturity | Current Est. | Balloon |
Warren, Ohio | (a) (b) | $ 5,851 | 7.000% | Oct-07 | $ 6,160 | $ - |
Bristol, PA |
| 9,359 | 7.400% | Feb-08 | 831 | 9,262 |
Garwood, NJ |
| 186 | 5.000% | May-08 | 100 | - |
Decatur, GA |
| 6,229 | 6.720% | Jun-08 | 579 | 6,049 |
Palm Beach Gardens, FL |
| 10,704 | 7.010% | Jun-08 | 970 | 10,418 |
Canton, OH |
| 3,062 | 7.150% | Aug-08 | 313 | 2,936 |
Spartanburg, SC |
| 2,543 | 7.150% | Aug-08 | 260 | 2,438 |
Irvine, CA |
| 7,884 | 9.339% | Sep-08 | 5,653 | - |
New Orleans, LA |
| 5,802 | 6.930% | Sep-08 | 4,084 | - |
New Orleans, LA |
| 4,612 | 6.930% | Sep-08 | 3,246 | - |
Owensboro, KY |
| 6,104 | 7.940% | Dec-08 | 3,361 | - |
Clinton, CT |
| 943 | 7.940% | Dec-08 | 519 | - |
Columbia, MD |
| 1,097 | 8.625% | Dec-08 | 297 | 719 |
Long Beach, CA |
| 7,753 | 6.160% | Jan-09 | 4,180 | - |
Long Beach, CA |
| 20,913 | 6.250% | Jan-09 | 11,286 | - |
Canton, OH |
| 677 | 9.490% | Feb-09 | 388 | - |
Florence, SC |
| 8,827 | 7.500% | Feb-09 | 869 | 8,443 |
Baton Rouge, LA |
| 1,648 | 7.375% | Mar-09 | 208 | 1,478 |
Bristol, PA |
| 5,570 | 7.250% | Apr-09 | 571 | 5,228 |
Livonia, MI |
| 10,572 | 7.800% | Apr-09 | 992 | 10,236 |
Henderson, NC |
| 4,090 | 7.390% | May-09 | 417 | 3,854 |
Westland, MI |
| 1,496 | 10.500% | Sep-09 | 683 | - |
Salt Lake City, UT |
| 6,548 | 7.610% | Oct-09 | 2,901 | - |
High Point, NC |
| 8,317 | 5.750% | Oct-09 | 695 | 7,741 |
Pleasanton, CA |
| 4,589 | 10.250% | Dec-09 | 727 | 3,808 |
San Francisco, CA |
| 23,102 | 3.893% | Dec-09 | 1,750 | 20,000 |
Richmond, VA |
| 15,898 | 8.100% | Feb-10 | 1,511 | 15,257 |
Hampton, VA |
| 4,323 | 8.260% | Apr-10 | 415 | 4,144 |
Hampton, VA |
| 7,049 | 8.270% | Apr-10 | 677 | 6,758 |
Tampa, FL |
| 5,801 | 6.880% | Aug-10 | 485 | 5,495 |
Tampa, FL |
| 8,023 | 6.930% | Aug-10 | 674 | 7,603 |
Herndon, VA |
| 18,200 | 8.180% | Dec-10 | 1,723 | 17,301 |
Tucson, AZ |
| 2,293 | 7.500% | Jan-11 | 226 | 2,076 |
Valley Forge, PA |
| 12,225 | 7.120% | Feb-11 | 1,166 | 10,927 |
NK Marc CAA |
| 3,440 | 6.500% | Mar-11 | 286 | 3,178 |
Glendale, AZ |
| 14,228 | 7.400% | Apr-11 | 1,258 | 13,365 |
Renswoude, NA |
| 36,056 | 5.305% | Apr-11 | 2,638 | 33,028 |
Dallas, TX |
| 30,582 | 5.126% | May-11 | 1,594 | 30,582 |
Wallingford, CT |
| 3,408 | 4.926% | May-11 | 221 | 3,187 |
Auburn Hills, MI |
| 6,717 | 7.010% | Jun-11 | 637 | 5,918 |
Plymouth, MI |
| 4,486 | 7.960% | Jul-11 | 421 | 4,171 |
Newport, OR |
| 6,610 | 5.030% | Aug-11 | 470 | 5,980 |
New Kingston, PA |
| 6,882 | 7.790% | Jan-12 | 678 | 6,101 |
Mechanicsburg, PA |
| 5,080 | 7.780% | Jan-12 | 500 | 4,503 |
New Kingston, PA |
| 3,279 | 7.780% | Jan-12 | 323 | 2,906 |
Greenville, SC |
| 13,119 | 4.415% | Jan-12 | 841 | 11,806 |
Lake Forest, CA |
| 10,451 | 7.260% | Feb-12 | 901 | 9,708 |
Memphis, TN |
| 17,610 | 5.247% | May-12 | 1,181 | 16,222 |
Lakewood, CO |
| 8,585 | 5.097% | May-12 | 566 | 7,890 |
Groveport, OH |
| 7,525 | 6.030% | Oct-12 | 563 | 6,860 |
San Antonio, TX |
| 29,025 | 6.080% | Oct-12 | 2,260 | 26,025 |
Foxboro, MA | (b) | 14,182 | 6.000% | Jan-13 | 2,817 | - |
Page 23
Property | Footnotes | Debt Balance | Interest Rate | Maturity | Current Est. | Balloon |
Fort Mill, SC |
| 11,029 | 6.000% | Jan-13 | 839 | 9,904 |
Waterloo,IA |
| 5,814 | 5.610% | Feb-13 | 672 | 3,505 |
Indianapolis, IN |
| 9,519 | 5.168% | May-13 | 633 | 8,580 |
Fort Meyers, FL |
| 8,912 | 5.268% | May-13 | 477 | 8,550 |
Houston, TX |
| 17,444 | 5.218% | May-13 | 1,166 | 15,737 |
Atlanta, GA |
| 44,690 | 5.268% | May-13 | 3,004 | 40,356 |
Chelmsford, MA |
| 6,928 | 5.118% | May-13 | 458 | 6,231 |
Southington, CT |
| 13,604 | 5.018% | May-13 | 890 | 12,228 |
Tempe, AZ |
| 13,479 | 5.148% | May-13 | 894 | 12,144 |
Knoxville, TN |
| 5,073 | 5.950% | Sep-13 | 381 | 4,496 |
Lancaster, CA |
| 10,084 | 7.020% | Sep-13 | 900 | 8,637 |
Lancaster, CA |
| 8,518 | 5.920% | Sep-13 | 642 | 7,518 |
Phoenix, AZ |
| 19,061 | 6.270% | Sep-13 | 1,527 | 16,490 |
Foxboro, MA | (b) | 18,536 | 6.000% | Jan-14 | 3,270 | - |
Moody, AL |
| 7,333 | 4.978% | Jan-14 | 493 | 6,350 |
Mechanicsburg, PA |
| 13,053 | 5.730% | Mar-14 | 1,045 | 10,538 |
Redmond, OR |
| 9,713 | 5.616% | Apr-14 | 697 | 8,484 |
Clive, IA |
| 5,846 | 5.139% | May-14 | 387 | 5,151 |
Fort Mill, SC |
| 20,300 | 5.373% | May-14 | 1,217 | 18,311 |
Eau Claire, WI |
| 1,719 | 8.000% | Jul-14 | 313 | - |
Philadelphia, PA |
| 49,000 | 5.060% | Jul-14 | 2,959 | 43,547 |
Carrollton, TX |
| 14,085 | 5.530% | Jan-15 | 993 | 12,022 |
Franklin, NC |
| 1,567 | 8.500% | Mar-15 | 271 | - |
Richmond, VA |
| 10,481 | 5.310% | May-15 | 708 | 9,055 |
Harrisburg, PA |
| 9,065 | 5.110% | May-15 | 599 | 7,780 |
Fishers, IN |
| 13,019 | 5.160% | May-15 | 865 | 11,188 |
Houston, TX |
| 13,092 | 5.210% | May-15 | 874 | 11,265 |
Atlanta, GA |
| 11,325 | 5.260% | May-15 | 606 | 10,502 |
San Antonio, TX |
| 12,915 | 5.340% | May-15 | 875 | 11,149 |
Houston, TX |
| 16,767 | 5.160% | May-15 | 1,114 | 14,408 |
Los Angeles, CA |
| 11,356 | 5.110% | May-15 | 750 | 9,760 |
Kalamazoo, MI |
| 17,418 | 5.411% | May-15 | 1,189 | 15,087 |
Knoxville, TN |
| 7,706 | 5.310% | May-15 | 520 | 6,658 |
Jacksonville, FL | (a) | 5,738 | 5.110% | May-15 | 379 | 4,927 |
Tulsa, OK |
| 7,591 | 5.060% | May-15 | 499 | 6,517 |
Rockaway, NJ |
| 14,900 | 5.292% | May-15 | 799 | 14,900 |
Elizabethtown, KY |
| 16,204 | 4.990% | Jul-15 | 1,068 | 13,730 |
Elizabethtown, KY |
| 3,054 | 4.990% | Jul-15 | 201 | 2,587 |
Hopkinsville, KY |
| 9,490 | 4.990% | Jul-15 | 626 | 8,041 |
Owensboro, KY |
| 6,859 | 4.990% | Jul-15 | 452 | 5,811 |
Dry Ridge, KY |
| 7,676 | 4.990% | Jul-15 | 506 | 6,504 |
Southborough, MA |
| 1,723 | 7.500% | Sep-15 | 275 | - |
Houston, TX | (b) | 25,608 | 6.250% | Sep-15 | 3,967 | 6,985 |
Sugarland, TX | (b) | 16,372 | 6.250% | Sep-15 | 2,608 | 6,286 |
Houston, TX | (b) | 7,218 | 6.250% | Sep-15 | 1,057 | 2,222 |
Houston, TX | (b) | 62,342 | 6.250% | Sep-15 | 9,087 | 18,318 |
Temple, TX |
| 8,849 | 6.090% | Jan-16 | 668 | 7,446 |
Danville, IL |
| 6,261 | 9.000% | Jan-16 | 692 | 4,578 |
Bridgewater, NJ |
| 14,805 | 5.732% | Mar-16 | 860 | 13,824 |
Bremerton, WA |
| 6,541 | 6.090% | Apr-16 | 494 | 5,465 |
Omaha, NE |
| 8,888 | 5.610% | Apr-16 | 621 | 7,560 |
Tempe, AZ |
| 8,395 | 5.610% | Apr-16 | 586 | 7,140 |
Page 24
LEXINGTON REALTY TRUST |
Motgages and Notes Payable |
3/31/2007 |
($000s) |
Property | Footnotes | Debt Balance | Interest Rate | Maturity | Current Est. | Balloon |
Lisle, IL |
| 10,450 | 6.500% | Jun-16 | 688 | 9,325 |
Rockford, IL |
| 6,900 | 6.210% | Aug-16 | 434 | 6,153 |
Statesville, NC |
| 14,100 | 6.210% | Aug-16 | 888 | 12,574 |
Rochester, NY |
| 18,800 | 6.210% | Aug-16 | 1,184 | 16,765 |
Glenwillow, OH |
| 17,000 | 6.130% | Sep-16 | 1,057 | 15,132 |
Plymouth, IN |
| 6,633 | 6.315% | Sep-16 | 497 | 5,723 |
Tomball, TX |
| 9,380 | 6.063% | Nov-16 | 683 | 8,023 |
El Segundo, CA |
| 54,824 | 5.675% | Dec-16 | 3,820 | 45,723 |
Memphis, TN |
| 3,951 | 5.710% | Jan-17 | 229 | 3,484 |
Dubuque, IA |
| 10,707 | 5.402% | Jun-17 | 733 | 8,725 |
McDonough, GA |
| 23,000 | 6.110% | Nov-17 | 1,425 | 21,651 |
Westmont, IL |
| 15,137 | 6.210% | Mar-18 | 1,292 | 9,662 |
Houston, TX |
| 7,500 | 6.507% | Nov-19 | 496 | 6,692 |
Boca Raton, FL |
| 20,400 | 6.470% | Feb-20 | 1,342 | 18,383 |
Houston, TX |
| 9,846 | 5.640% | Dec-20 | 692 | 7,018 |
Livonia, GA |
| 9,847 | 5.460% | Dec-20 | 741 | 5,895 |
Wall Township, NJ | (b) | 29,514 | 6.250% | Jan-21 | 2,130 | - |
Hilliard,OH |
| 28,960 | 5.907% | Feb-21 | 1,739 | 27,483 |
Whippany, NJ |
| 16,830 | 6.298% | Nov-21 | 1,344 | 10,400 |
Dillon, SC |
| 23,268 | 5.974% | Feb-22 | 1,832 | 13,269 |
El Segundo, CA |
| 13,577 | 4.860% | Jan-24 | 54 | 11,417 |
El Segundo, CA |
| 16,594 | 4.860% | Jan-24 | 66 | 13,955 |
Chester, SC |
| 13,339 | 5.380% | Aug-25 | 1,144 | 362 |
Charleston, SC |
| 7,350 | 5.850% | Feb-21 | 437 | 6,632 |
Orlando, FL |
| 9,975 | 5.722% | Feb-17 | 580 | 9,309 |
|
| 1,538,402 | 5.954% |
| 160,272 | 1,155,828 |
|
|
|
|
|
|
|
Property - Variable Rate |
|
|
|
|
|
|
|
| - | - |
| - | - |
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
Credit Facility | (c) | - | - | Jun-08 | - | - |
Trust Preferred Notes |
| 200,000 | 6.804% | Apr-37 | 13,608 | 200,000 |
Exchangeable Notes | (e) | 450,000 | 5.450% | Jan-27 | 24,525 | 450,000 |
|
|
|
|
|
|
|
Total |
| $2,188,402 | 5.928% |
| $198,405 | $1,805,828 |
(a) Included in discontinued operations. |
|
|
|
|
(b) Debt balances based upon imputed interest rates. |
|
|
| |
(c) Floating rate debt 30/60/90 day LIBOR plus 120 to 170 bps. |
|
|
| |
(d) Remaining payments for debt with less than 12 months to maturity, all others are debt service for next 12 months. | ||||
(e) Holders have the right to put notes to the Company commencing 2012 and every five years thereafter. |
Page 25
LEXINGTON REALTY TRUST |
Mortgages Payable- Joint Venture Properties |
3/31/2007 |
($000s) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Current |
|
|
|
| LXP |
|
| Estimated |
|
|
|
| Proportionate | Interest |
| Annual Debt | Balloon |
Joint Venture Property | Footnotes | Debt Balance | Share | Rate | Maturity | Service | Payment |
Russellville, AR |
| $ 1,281 | $ 391 | 6.850% | May-08 | $ 913 | $ - |
Dallas, TX |
| 21,800 | 5,228 | 6.680% | Jun-09 | 9,614 | - |
Santa Clarita, CA |
| 28,200 | 8,460 | 4.750% | Oct-09 | 1,340 | 28,200 |
Columbia, SC |
| 23,451 | 9,380 | 7.850% | Oct-09 | 2,196 | 22,586 |
Houston, TX |
| 19,705 | 6,568 | 7.580% | Oct-09 | 2,032 | 18,229 |
Fishers, IN |
| 14,092 | 4,697 | 8.190% | Apr-10 | 1,499 | 12,960 |
Lorain, OH | (4) | 2,709 | 813 | 6.000% | Jul-10 | 873 | - |
Manteca, CA | (4) | 1,913 | 574 | 6.000% | Jul-10 | 617 | - |
Watertown, NY | (4) | 1,799 | 540 | 6.000% | Jul-10 | 580 | - |
Fairlea, WV | (4) | 1,264 | 379 | 6.000% | Jul-10 | 407 | - |
San Diego, CA | (4) | 1,219 | 366 | 6.000% | Jul-10 | 393 | - |
Galesburg, IL | (4) | 1,074 | 322 | 6.000% | Jul-10 | 346 | - |
Irving, TX |
| 25,657 | 8,552 | 8.160% | Oct-10 | 2,432 | 24,454 |
Lake Mary, FL |
| 12,760 | 4,253 | 7.880% | Oct-10 | 1,181 | 12,118 |
Lake Mary, FL |
| 12,722 | 4,241 | 7.880% | Oct-10 | 1,178 | 12,082 |
Parsippany, NJ |
| 39,434 | 13,144 | 7.350% | Mar-11 | 3,472 | 37,047 |
Novato, CA |
| 21,839 | 6,552 | 5.750% | Jul-11 | 1,600 | 20,307 |
Winchester, VA |
| 10,380 | 3,460 | 7.330% | Aug-11 | 908 | 9,675 |
Milford, OH |
| 15,765 | 5,255 | 8.170% | Feb-12 | 1,817 | 12,686 |
Des Moines, IA |
| 22,761 | 6,828 | 5.147% | May-12 | 1,188 | 22,153 |
Fort Worth, TX |
| 19,399 | 5,820 | 5.097% | May-12 | 1,280 | 17,823 |
Raleigh, NC |
| 12,900 | 3,870 | 4.947% | May-12 | 649 | 12,543 |
Farmington Hills, MI |
| 20,145 | 6,715 | 5.420% | Sep-12 | 1,500 | 17,724 |
Laurens, SC |
| 16,513 | 5,504 | 6.000% | Sep-12 | 1,396 | 14,022 |
Temperance, MI |
| 11,070 | 3,690 | 6.000% | Sep-12 | 936 | 9,400 |
Baton Rouge, LA |
| 6,659 | 1,998 | 4.900% | Oct-12 | 443 | 5,943 |
Plymouth, MI |
| 11,945 | 3,584 | 6.220% | Dec-12 | 1,026 | 10,026 |
Colorado Springs, CO |
| 11,386 | 3,795 | 6.250% | Dec-12 | 887 | 10,272 |
Centennial, CO |
| 15,235 | 4,571 | 6.150% | Feb-13 | 1,177 | 13,555 |
Los Angeles, CA |
| 80,182 | 20,045 | 5.330% | May-13 | 5,270 | 73,071 |
Dallas, TX |
| 40,420 | 12,126 | 5.218% | May-13 | 2,702 | 36,453 |
Malvern, PA |
| 12,814 | 3,844 | 5.530% | Jan-14 | 916 | 11,236 |
Arlington, TX |
| 21,136 | 5,284 | 5.810% | Feb-14 | 1,551 | 18,588 |
New Lenox, IL |
| 17,400 | 5,220 | 5.510% | Feb-14 | 975 | 17,400 |
Logan Township, NJ |
| 7,690 | 2,307 | 4.760% | Apr-14 | 473 | 6,784 |
Rancho Cordova, CA | (4) | 18,103 | 5,431 | 6.000% | Sep-14 | 1,457 | 14,646 |
Weston, FL |
| 10,518 | 3,155 | 5.420% | Nov-14 | 733 | 9,066 |
Issaquah, WA |
| 32,800 | 8,200 | 5.001% | Dec-14 | 1,668 | 30,388 |
Canonsburg, PA |
| 9,095 | 2,729 | 5.377% | Dec-14 | 489 | 9,095 |
Chicago, IL |
| 29,900 | 8,970 | 5.105% | Jan-15 | 1,552 | 29,900 |
Herndon, VA |
| 12,031 | 3,609 | 5.920% | Apr-15 | 888 | 10,359 |
Richmond, VA |
| 19,800 | 5,940 | 5.110% | May-15 | 1,029 | 18,321 |
Oklahoma City, OK |
| 14,749 | 5,900 | 5.240% | May-15 | 784 | 13,673 |
McDonough, GA |
| 12,675 | 3,169 | 5.212% | Jun-15 | 672 | 11,349 |
Mission, TX |
| 6,320 | 1,896 | 5.780% | Jun-15 | 462 | 5,371 |
Carrollton, TX |
| 20,800 | 5,200 | 5.274% | Jul-15 | 1,115 | 18,677 |
Houston, TX |
| 23,910 | 7,172 | 5.410% | Oct-15 | 1,315 | 21,846 |
Dallas, TX |
| 18,363 | 5,509 | 6.100% | Jul-16 | 1,139 | 18,363 |
Fort Wayne, IN |
| 21,057 | 5,288 | 9.375% | Oct-16 | 3,344 | - |
Fort Wayne, IN |
| 13,495 | 3,389 | 10.625% | Nov-16 | 2,239 | - |
Page 26
LEXINGTON REALTY TRUST |
Mortgages Payable- Joint Venture Properties |
3/31/2007 |
($000s) |
|
|
|
|
|
| Current |
|
|
|
| LXP |
|
| Estimated |
|
|
|
| Proportionate | Interest |
| Annual Debt | Balloon |
Joint Venture Property | Footnotes | Debt Balance | Share | Rate | Maturity | Service | Payment |
Wilmington, NC |
| 13,000 | 3,250 | 5.190% | Mar-17 | 686 | 11,580 |
Weston, FL |
| 7,268 | 2,180 | 5.520% | Nov-17 | 512 | 5,758 |
Lorain, OH | (4) | 1,450 | 435 | 6.000% | Jul-18 | 108 | - |
Manteca, CA | (4) | 1,024 | 307 | 6.000% | Jul-18 | 77 | - |
Watertown, NY | (4) | 963 | 289 | 6.000% | Jul-18 | 72 | - |
Fairlea, WV | (4) | 676 | 203 | 6.000% | Jul-18 | 51 | - |
San Diego, CA | (4) | 653 | 196 | 6.000% | Jul-18 | 49 | - |
Galesburg, IL | (4) | 575 | 173 | 6.000% | Jul-18 | 43 | - |
Erwin, NY |
| 9,416 | 2,825 | 5.910% | Oct-18 | 728 | 6,624 |
Dallas, TX |
| 12,512 | 3,000 | 15.000% | Dec-18 | 1,877 | - |
Overland Park, KS |
| 37,620 | 9,405 | 5.830% | May-19 | 2,230 | 31,819 |
Kansas City, MO |
| 17,950 | 4,488 | 5.830% | May-19 | 1,064 | 15,182 |
West Chester, PA |
| 10,020 | 3,006 | 6.750% | Jul-19 | 1,204 | - |
Meridian, ID |
| 10,125 | 2,531 | 6.010% | Aug-19 | 753 | 7,658 |
Streetsboro, OH |
| 20,200 | 5,050 | 5.285% | Sep-19 | 1,085 | 16,338 |
San Fransisco, CA |
| 22,080 | 6,624 | 5.580% | Nov-19 | 1,253 | 18,002 |
Lenexa, KS |
| 10,194 | 2,549 | 6.270% | Dec-19 | 774 | 7,755 |
Oakland, ME |
| 10,314 | 2,579 | 5.930% | Oct-20 | 750 | 7,660 |
Durham, NH |
| 19,182 | 6,394 | 6.730% | Mar-21 | 1,309 | - |
Antioch, TN |
| 13,731 | 4,119 | 7.940% | Oct-21 | 1,580 | 774 |
Subtotal/Wtg. Avg. Proportionate Share | 1,067,288 | 313,536 | 6.226% |
| 90,858 | 847,541 | |
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
Warehouse facility | (1) | 57,813 | 28,906 | 5.640% | Jun-07 | 3,261 | 57,813 |
Warehouse facility | (2) | 139,118 | 69,559 | 6.057% | Mar-08 | 8,426 | 139,118 |
CDO | (3) | 376,650 | 188,325 | 5.825% | Dec-46 | 21,940 | 376,650 |
Total/Wtg. Avg. Proportionate Share | $ 600,326 | $ 600,326 | 6.053% |
| $ 124,485 | $ 1,421,122 |
(1) Represents amount outstanding on $200.0 million repurchase agreement, variable rate. |
(2) Represents amount outstanding on $300.0 million repurchase agreement, variable rate. |
(3) Collateralized debt obligation of investment grade-rated debt secured directly or indirectly by real estate assets, variable rate. |
(4) Based on imputed interest rate. |
Page 27
Lexington Realty Trust |
Mortgage Maturity Schedule |
3/31/2007 |
($000) |
|
|
|
|
|
|
|
Consolidated Properties | ||||||
Year |
| Scheduled |
| Balloon Payments |
| Balloon Weighted |
2007 - remaining |
| $ 42,613 |
| $ - |
| - |
2008 |
| 62,922 |
| 31,822 |
| 7.13% |
2009 |
| 43,607 |
| 60,788 |
| 6.28% |
2010 |
| 33,824 |
| 56,558 |
| 7.88% |
2011 |
| 34,107 |
| 112,410 |
| 5.92% |
|
| $ 217,073 |
| $ 261,578 |
| 6.57% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Joint Venture Properties - LXP Proprotionate Share | ||||||
Year |
| Scheduled |
| Balloon Payments |
| Balloon Weighted |
2007- remaining |
| $ 5,799 |
| $ 28,906 | (1) | 5.64% |
2008 |
| 7,177 |
| 69,559 | (1) | 6.06% |
2009 |
| 6,906 |
| 23,570 |
| 6.67% |
2010 |
| 5,804 |
| 20,538 |
| 8.06% |
2011 |
| 5,042 |
| 21,666 |
| 6.90% |
|
| $ 30,728 |
| $ 164,239 |
| 6.43% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Includes joint venture warehouse facilities. |
|
|
Page 28
| Lexington Realty Trust | |||
| Revenue by Tenant Industry | |||
| 3/31/2007 | |||
| Tenant Industry |
| % Base Rent for the 3 months ended 3/31/07 (1) |
|
| Finance/Insurance |
| 14.9% |
|
| Energy |
| 11.4% |
|
| Aerospace/Defense |
| 9.1% |
|
| Food |
| 7.8% |
|
| Technology |
| 7.7% |
|
| Automotive |
| 7.5% |
|
| Transportation/Logistics |
| 5.3% |
|
| Consumer Products |
| 5.0% |
|
| Retail-Department/ Discount Store |
| 4.8% |
|
| Healthcare |
| 4.3% |
|
| Media/Advertising |
| 4.0% |
|
| Service |
| 3.9% |
|
| Telecommunications |
| 3.3% |
|
| Retail-Specialty |
| 3.1% |
|
| Construction Materials |
| 2.2% |
|
| Printing/Production |
| 2.1% |
|
| Retail-Electronics |
| 1.0% |
|
| Apparel |
| 0.9% |
|
| Real Estate/Other |
| 0.8% |
|
| Security |
| 0.6% |
|
| Health/Fitness |
| 0.2% |
|
| Paper/Containers & Packaging |
| 0.1% |
|
|
|
| 100.0% |
|
|
|
|
|
|
|
|
|
|
|
| (1) Includes proportionate share of joint venture investments and rental revenue recognized from properties sold through date of sale. |
|
Page 29
Lexington Realty Trust |
Revenue by Metropolitan Statistical Area |
|
| Metropolitan Statistical Area | % of Base Rent for the 3 Months Ended 3/31/07 |
1 |
| Los Angeles-Riverside-Orange County-CA | 10.3% |
2 |
| Houston-Galveston-Brazoria-TX | 6.4% |
3 |
| Dallas-Fort Worth-TX | 5.1% |
4 |
| New York-Northern New Jersey-Long Island | 4.3% |
5 |
| Washington-Baltimore | 4.1% |
6 |
| Philadelphia-Wilmington-Atlantic City | 3.7% |
7 |
| San Francisco-Oakland-San Jose-CA | 3.3% |
8 |
| Memphis-TN | 3.3% |
9 |
| Atlanta-GA | 3.1% |
10 |
| Phoenix-Mesa-AZ | 2.2% |
11 |
| Orlando-FL | 2.2% |
12 |
| Youngstown-Warren-OH | 2.1% |
13 |
| Boston-Worcester-Lawrence-MA | 2.0% |
14 |
| Beaumont-Port Arthur, TX | 1.8% |
15 |
| Detroit-Ann Arbor-Flint-MI | 1.8% |
16 |
| Columbus-OH | 1.7% |
17 |
| Charlotte-Gastonia-Rock Hill-NC-SC | 1.6% |
18 |
| Salt Lake City-Ogden-UT | 1.5% |
19 |
| Chicago-Gary-Kenosha-IL | 1.5% |
20 |
| Harrisburg-Lebanon-Carlisle-PA | 1.4% |
21 |
| Richmond-Petersburg-VA | 1.3% |
22 |
| Indianapolis-IN | 1.3% |
23 |
| San Antonio-TX | 1.2% |
24 |
| New Orleans, LA | 1.2% |
25 |
| West Palm Beach-Boca Raton-FL | 1.1% |
26 |
| Columbus, IN | 1.1% |
27 |
| Las Vegas, NV-AZ | 1.0% |
28 |
| Owensboro-KY | 1.0% |
|
| Areas which account for 1% or greater of total revenue | 72.6% |
Page 30
LEXINGTON REALTY TRUST | ||||||||||||
Supplemental Reporting Package | ||||||||||||
Other Revenue Data | ||||||||||||
3/31/2007 | ||||||||||||
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| Historical |
|
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|
|
|
|
|
|
|
|
| Revenue by Property Type |
| Percentage |
|
|
|
|
|
|
|
| |
| Office | $ 68,875 |
| 65.9% |
|
|
|
|
|
|
|
|
| Industrial | $ 24,860 |
| 23.8% |
|
|
|
|
|
|
|
|
| Retail | $ 10,706 |
| 10.3% |
|
|
|
|
|
|
|
|
|
| $ 104,441 |
| 100.0% |
|
|
|
|
|
|
|
|
| Revenue by Credit Rating (2) |
|
|
|
|
|
|
|
|
|
|
|
| Investment Grade | $ 56,121 |
| 53.7% |
|
|
|
|
|
|
|
|
| Non-Investment Grade | $ 18,956 |
| 18.2% |
|
|
|
|
|
|
|
|
| Unrated | $ 29,364 |
| 28.1% |
|
|
|
|
|
|
|
|
|
| $ 104,441 |
| 100.0% |
|
|
|
|
|
|
|
|
|
|
|
| Aggregate |
| % of Total |
| Base Rent |
|
|
|
|
|
|
|
|
|
|
|
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|
| |||
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| |||
| Major Tenants/Guarantors | Number of |
|
|
| Property Type |
| % of |
| |||
| Raytheon Corporation | 6 |
| 2,286,009 |
| 3.9% |
| $ 6,817 | Office/Industrial/Other |
| 6.5% |
|
| St. Paul Fire and Marine Insurance | 1 |
| 530,000 |
| 0.9% |
| $ 3,314 | Office |
| 3.2% |
|
| Baker Hughes, Inc. | 4 |
| 1,061,471 |
| 1.8% |
| $ 3,308 | Office/Industrial |
| 3.2% |
|
| Kmart Corp/Sears Holdings | 8 |
| 2,957,164 |
| 5.0% |
| $ 2,908 | Industrial/Retail |
| 2.8% |
|
| Dana Corporation | 8 |
| 2,240,802 |
| 3.8% |
| $ 2,624 | Office/Industrial |
| 2.5% |
|
| Harcourt Brace/Reed Elsevier | 4 |
| 1,063,640 |
| 1.8% |
| $ 2,122 | Office/Industrial |
| 2.0% |
|
| Entergy Services, Inc. | 4 |
| 682,554 |
| 1.2% |
| $ 2,090 | Office |
| 2.0% |
|
| Federal Express, Inc. | 3 |
| 712,286 |
| 1.2% |
| $ 2,014 | Office/Industrial |
| 1.9% |
|
| Morgan, Lewis & Bockius LLP | 1 |
| 309,049 |
| 0.5% |
| $ 1,672 | Office |
| 1.6% |
|
| Northwest Pipeline Corp. | 1 |
| 295,000 |
| 0.5% |
| $ 1,580 | Office |
| 1.5% |
|
| Total | 40 |
| 12,137,975 |
| 20.6% |
| $ 28,449 |
|
| 27.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) Includes proportionate share of joint venture investments and rental revenue recognized from properties sold through the date of sale. |
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| |||||||||
| (2) As of March 31, 2007. |
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Page 31
Investor Information |
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| ||
|
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| ||
Transfer Agent |
| Investor Relations | ||
Mellon Investor Services LLC |
| Carol M. Merriman | ||
480 Washington Blvd. |
| VP of Investor Relations and Corporate Development | ||
Jersey City NJ 07310-1900 |
| Telephone (direct) | (212) 692-7264 | |
(800) 850-3948 |
| Facsimile (main) | (212) 594-6600 | |
www.melloninvestor.com |
| cmerriman@lxp.com | ||
|
|
|
| |
Research Coverage | ||||
|
|
| ||
BB&T Capital Markets |
|
| J.P. Morgan |
|
Stephanie Krewson | (804) 782-8784 |
| Anthony Paolone, CFA | (212) 622-6682 |
Robert P. Whittemore | (804) 782-8796 |
| Michael W. Mueller, CFA | (212) 622-6689 |
|
|
| Joseph Dazio, CFA | (212) 622-6416 |
Bear, Stearns & Co., Inc. |
|
| Gregory P. Stuart | (212) 622-5390 |
Ross Smotrich | (212) 272-8046 |
|
|
|
Jeffrey Langbaum | (212) 272-4201 |
| Raymond James & Assoc. |
|
George Hoglund, CFA | (212) 272-6272 |
| Paul Puryear | (727) 567-2253 |
|
|
| Ken Avalos | (727) 567-2660 |
Cantor Fitzgerald |
|
|
|
|
Philip Martin | (312) 469-7485 |
| Stifel Nicolaus |
|
Matthew Thorp | (312) 469-7484 |
| John W. Guinee | (410) 454-5520 |
|
|
| Michael C. Hudgins | (410) 454-4830 |
Friedman, Billings, Ramsey |
|
|
|
|
Merrill Ross | (703) 312-9769 |
| Wachovia Securities |
|
Gabe Poggi | (703) 469-1141 |
| Stephen Swett | (212) 214-5050 |
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Page 32