Quarterly Earnings and
Supplemental Operating and Financial Data
June 30, 2010
LEXINGTON REALTY TRUST
SUPPLEMENTAL REPORTING PACKAGE
June 30, 2010
Table of Contents
| Section | | Page |
| | | |
| Second Quarter 2010 Earnings Press Release | | 3 |
| | | |
| Portfolio Data | | |
| 2010 Second Quarter Leasing Summary | | 11 |
| 2010 Second Quarter Monetization Summary | | 13 |
| Property Leases and Vacancies – Consolidated Portfolio | | 14 |
| Property Leases and Vacancies – Net Lease Strategic Assets Fund | | 22 |
| Lease Rollover Schedule – Cash Basis | | 24 |
| Lease Rollover Schedule – GAAP Basis | | 25 |
| Mortgage Note Receivables | | 26 |
| 2010 Second Quarter Financing Summary | | 27 |
| Debt Maturity Schedule | | 28 |
| 2010 Mortgage Maturities by Property Type | | 29 |
| 2011 Mortgage Maturities by Property Type | | 30 |
| 2012 Mortgage Maturities by Property Type | | 31 |
| 2013 Mortgage Maturities by Property Type | | 32 |
| 2014 Mortgage Maturities by Property Type | | 33 |
| Mortgages and Notes Payable | | 34 |
| Partnership Interests | | 39 |
| Selected Balance Sheet Account Detail | | 40 |
| Revenue Data | | 41 |
| Top 20 Markets | | 42 |
| Tenant Industry Diversification | | 43 |
| Top 10 Tenants or Guarantors | | 44 |
| | | |
| Investor Information | | 45 |
This Quarterly Earnings Release and Supplemental Reporting Package contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington’s control 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 periodic reports filed with the Securities and Exchange Commission, including risks related to: (1) the failure to continue to qualify as a real estate investment trust, (2) changes in general business and economic conditions, including the impact of the current global financial and credit crisis, (3) competition, (4) increases in real estate construction costs, (5) changes in interest rates, or (6) changes in accessibility of debt and equity capital markets. Copies of the periodic reports Lexington files with the Securities and Exchange Commission are available on Lexington’s web site at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects”, “is optimistic” 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
TRADED: NYSE: LXP
One Penn Plaza, Suite 4015
New York NY 10119-4015
Contact:
Investor or Media Inquiries, T. Wilson Eglin, CEO
Lexington Realty Trust
Phone: (212) 692-7200 E-mail: tweglin@lxp.com
FOR IMMEDIATE RELEASE
Tuesday, August 3, 2010
LEXINGTON REALTY TRUST REPORTS SECOND QUARTER 2010 RESULTS
New York, NY – August 3, 2010 – Lexington Realty Trust (“Lexington”) (NYSE:LXP), a real estate investment trust focused on single-tenant real estate investments, today announced results for the second quarter ended June 30, 2010.
Second Quarter 2010 Highlights
| | · | Generated Company Funds From Operations (“Company FFO”) of $35.9 million or $0.23 per diluted common share/unit, adjusted for certain items. |
| | · | Executed 17 new and renewal leases, totaling approximately 1.0 million square feet; overall portfolio approximately 92% leased. |
| | · | Raised $48.4 million from dispositions and financing activities. |
| | · | Amended secured credit facility, which increased the availability under the revolving loan portion from $150.0 million to $175.0 million. |
| · | Agreed to acquire a to-be-built, 514,000 square foot industrial facility upon completion of construction and commencement of a 15-year net lease at an initial cap rate of 9.25%. |
| · | Recorded a non-cash charge of $1.6 million related to a previously disclosed forward equity commitment and impairment charges of $26.0 million on real estate and debt investments. |
Subsequent to Quarter End Highlights
| | · | Sold three unencumbered multi-tenant office properties for $69.7 million at an annualized cap rate of 0.6%. |
| | · | Satisfied $29.8 million in non-recourse mortgage debt on three properties scheduled to mature in 2010. |
| | · | Agreed to (1) lend up to $23.4 million to fund the construction of a 672,000 square foot industrial facility and (2) purchase the facility upon completion of construction and commencement of a 20-year net lease at an initial cap rate of 8.9%. |
T. Wilson Eglin, President and Chief Executive Officer of Lexington, stated, “During the second quarter of 2010, we continued to monetize assets, strengthen our balance sheet and improve liquidity, which allowed us to end the quarter with cash in excess of $130 million. We have continued to execute on non-core property sales in the third quarter by selling $69.7 million of multi-tenant properties, bringing our total volume for 2010 to $149.0 million at a cap rate of 4.7%. Overall, leasing activity has continued to be good with over one million square feet of leases executed in the quarter.”
FINANCIAL RESULTS
Revenues
For the quarter ended June 30, 2010, total gross revenues were $86.1 million, compared with total gross revenues of $93.7 million for the quarter ended June 30, 2009.
Company FFO Attributable to Common Shareholders/Unitholders
The following presents in tabular form the items excluded from Company FFO for the periods presented:
| | | Three Months Ended | | | Six Months Ended | |
| | | June 30, 2010 Millions | | | Per Diluted Share/Unit | | | June 30, 2009 Millions | | | Per Diluted Share/Unit | | | June 30, 2010 Millions | | | Per Diluted Share/Unit | | | June 30, 2009 Millions | | | Per Diluted Share/Unit | |
Reported Company FFO(A) | | $ | 14.6 | | | $ | 0.09 | | | $ | (38.9 | ) | | $ | (0.34 | ) | | $ | 28.6 | | | $ | 0.19 | | | $ | (57.7 | ) | | $ | (0.51 | ) |
| New accounting pronouncements | | | 0.1 | | | | | | | | 0.4 | | | | | | | | 0.3 | | | | | | | | 0.9 | | | | | |
| Debt satisfaction, net | | | — | | | | | | | | (5.9 | ) | | | | | | | (2.6 | ) | | | | | | | (12.3 | ) | | | | |
| Forward equity commitment | | | 1.6 | | | | | | | | (4.2 | ) | | | | | | | (0.5 | ) | | | | | | | 4.4 | | | | | |
| Impairment losses – real estate | | | 22.1 | | | | | | | | — | | | | | | | | 50.1 | | | | | | | | 9.5 | | | | | |
| Impairment loss – real estate noncontrolling interest | | | (6.4 | ) | | | | | | | — | | | | | | | | (9.5 | ) | | | | | | | — | | | | | |
| Impairment losses – consolidated debt investments | | | 3.9 | | | | | | | | — | | | | | | | | 3.9 | | | | | | | | 1.1 | | | | | |
| Impairment losses – Concord debt investments | | | — | | | | | | | | 51.3 | | | | | | | | — | | | | | | | | 71.4 | | | | | |
| Impairment loss – Concord equity investment | | | — | | | | | | | | 39.1 | | | | | | | | — | | | | | | | | 68.2 | | | | | |
Lease termination/ deferred maintenance payments | | | — | | | | | | | | (1.3 | ) | | | | | | | — | | | | | | | | (1.3 | ) | | | | |
| Land transaction income, net | | | — | | | | | | | | — | | | | | | | | — | | | | | | | | (1.3 | ) | | | | |
| | | $ | 35.9 | | | $ | 0.23 | (B) | | $ | 40.5 | | | $ | 0.36 | (B) | | $ | 70.3 | | | $ | 0.47 | (B) | | $ | 82.9 | | | $ | 0.75 | (B) |
| (A) | A reconciliation of GAAP net income (loss) to Company FFO is provided later in this press release. |
| (B) | Per diluted share/unit reflects the impact of estimated net shares retired upon the assumed settlement of the forward equity commitment of (3,356,445), (1,809,042), (3,312,724) and (2,139,550) for the three months ended June 30, 2010 and 2009 and the six months ended June 30, 2010 and 2009, respectively. |
Net Loss Attributable to Common Shareholders
For the quarter ended June 30, 2010, net loss attributable to common shareholders was ($30.4) million, or a loss of ($0.23) per diluted share, compared with net loss attributable to common shareholders for the quarter ended June 30, 2009 of ($90.5) million, or a loss of ($0.87) per diluted share.
Financing Activities and Balance Sheet Update
During the second quarter of 2010, Lexington entered into an amendment to its secured credit agreement, which provides for the addition of a commitment from a new lender in the amount of $25.0 million for the revolving loan portion, increasing the revolving loan’s current capacity to $175.0 million. No additional borrowings were made by Lexington in connection with the amendment, and, as of June 30, 2010, no borrowings were outstanding under the revolving loan portion.
Lexington obtained a $9.0 million non-recourse mortgage loan on its Greenville, South Carolina property leased to Canal Insurance Company. The 5.50% fixed rate loan is interest only and matures in January 2015. Subsequent to quarter end, Lexington satisfied $29.8 million of non-recourse mortgage debt encumbering three properties scheduled to mature in 2010.
Common Share Dividend/Distribution
During the quarter ended June 30, 2010, Lexington declared a regular quarterly dividend/distribution of $0.10 per common share/unit, which was paid in cash on July 15, 2010 to common shareholders/unitholders of record as of June 30, 2010.
OPERATING ACTIVITIES
Capital Recycling
During the quarter ended June 30, 2010, Lexington raised $39.4 million from two retail property sales and the 100% loan-to-value, non-recourse, match-term financing of its leasehold interest in Salt Lake City, Utah. Subsequent to quarter end, Lexington sold three unencumbered multi-tenant office properties for $69.7 million ($136 psf). The properties were 67.2% leased and generated annualized net operating income of $0.4 million.
Investments
Lexington agreed to acquire a 514,000 square foot industrial facility being built in Byhalia, Mississippi for $27.5 million. The facility will be leased to ASICS America Corporation, with ASICS Corporation as guarantor, for a term of 15 years upon completion of construction, which is expected to occur in the second quarter of 2011. No assurance can be provided that construction will be completed or the acquisition will be consummated.
Subsequent to quarter end, Lexington agreed (1) to lend up to $23.4 million to fund the construction of a 672,000 square foot industrial facility in Shelby, North Carolina and (2) to acquire the property for approximately $300,000 in excess of the construction loan commitment. The facility will be leased to Clearwater Paper Corporation for a term of 20 years upon completion of construction, which is expected to occur in the second quarter of 2011. No assurance can be provided that construction will be completed or the acquisition will be consummated.
Leasing Activity
For the quarter ended June 30, 2010, Lexington executed 17 new and renewal leases for one million square feet. At June 30, 2010, Lexington’s overall portfolio was approximately 92% leased.
2010 EARNINGS GUIDANCE
Lexington reaffirms its estimated Company FFO guidance of a range of $0.93 to $0.97 per diluted share for the year ended December 31, 2010. This guidance is forward looking, excludes the impact of certain items and is based on current expectations.
SECOND QUARTER 2010 CONFERENCE CALL
Lexington will host a conference call today, Tuesday, August 3, 2010, at 11:00 a.m. Eastern Time, to discuss its results for the quarter ended June 30, 2010. Interested parties may participate in this conference call by dialing (877) 795-3649 or (719) 325-4904. A replay of the call will be available through August 17, 2010, at (888) 203-1112 or (719) 457-0820, pin: 1013843. A live webcast of the conference call will be available at www.lxp.com within the Investor Relations section.
ABOUT LEXINGTON REALTY TRUST
Lexington Realty Trust is a real estate investment trust that owns, invests in, and manages office, industrial and retail properties net-leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the net lease area. Lexington shares are traded on the New York Stock Exchange under the symbol “LXP”. Additional information about Lexington is available on-line at www.lxp.com or by contacting Lexington Realty Trust, One Penn Plaza, Suite 4015, New York, New York 10119-4015, Attention: Investor Relations.
This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington’s control 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 periodic reports filed with the Securities and Exchange Commission, including risks related to: (1) the failure to continue to qualify as a real estate investment trust, (2) changes in general business and economic conditions, including the impact of the current global financial and credit crisis, (3) competition, (4) increases in real estate construction costs, (5) changes in interest rates, or (6) changes in accessibility of debt and equity capital markets. Copies of the periodic reports Lexington files with the Securities and Exchange Commission are available on Lexington’s web site at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects”, “is optimistic” 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
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three and six months ended June 30, 2010 and 2009
(Unaudited and in thousands, except share and per share data)
| | | Three months ended June 30, | | | Six months ended June 30, | |
| | | 2010 | | | 2009 | | | 2010 | | | 2009 | |
| Gross revenues: | | | | | | | | | | | | |
| Rental | | $ | 77,891 | | | $ | 83,207 | | | $ | 155,252 | | | $ | 164,720 | |
| Advisory and incentive fees | | | 201 | | | | 583 | | | | 615 | | | | 1,046 | |
| Tenant reimbursements | | | 8,002 | | | | 9,877 | | | | 17,625 | | | | 19,581 | |
| Total gross revenues | | | 86,094 | | | | 93,667 | | | | 173,492 | | | | 185,347 | |
| | | | | | | | | | | | | | | | | |
| Expense applicable to revenues: | | | | | | | | | | | | | | | | |
| Depreciation and amortization | | | (40,976 | ) | | | (42,182 | ) | | | (83,584 | ) | | | (85,206 | ) |
| Property operating | | | (18,256 | ) | | | (19,627 | ) | | | (37,639 | ) | | | (38,567 | ) |
| General and administrative | | | (4,937 | ) | | | (6,214 | ) | | | (10,924 | ) | | | (12,781 | ) |
| Non-operating income | | | 2,872 | | | | 1,475 | | | | 5,099 | | | | 5,573 | |
| Interest and amortization expense | | | (31,892 | ) | | | (32,575 | ) | | | (63,494 | ) | | | (65,162 | ) |
| Debt satisfaction gains (charges), net | | | — | | | | 7,305 | | | | (762 | ) | | | 13,716 | |
| Change in value of forward equity commitment | | | (1,617 | ) | | | 4,198 | | | | 460 | | | | (4,435 | ) |
| Impairment charges and loan losses | | | (7,974 | ) | | | — | | | | (28,542 | ) | | | (1,085 | ) |
| | | | | | | | | | | | | | | | | |
| Income (loss) before provision for income taxes, equity in earnings (losses) of non-consolidated entities and discontinued operations | | | (16,686 | ) | | | 6,047 | | | | (45,894 | ) | | | (2,600 | ) |
| Provision for income taxes | | | (611 | ) | | | (321 | ) | | | (1,252 | ) | | | (991 | ) |
| Equity in earnings (losses) of non-consolidated entities | | | 5,368 | | | | (83,164 | ) | | | 10,606 | | | | (130,288 | ) |
| Loss from continuing operations | | | (11,929 | ) | | | (77,438 | ) | | | (36,540 | ) | | | (133,879 | ) |
| | | | | | | | | | | | | | | | | |
| Discontinued operations: | | | | | | | | | | | | | | | | |
| Income (loss) from discontinued operations | | | 189 | | | | (685 | ) | | | (930 | ) | | | (1,594 | ) |
| Provision for income taxes | | | (7 | ) | | | (11 | ) | | | (7 | ) | | | (64 | ) |
| Debt satisfaction gains (charges), net | | | — | | | | (1,399 | ) | | | 3,385 | | | | (1,399 | ) |
| Gains on sales of properties | | | 52 | | | | 3,186 | | | | 498 | | | | 6,280 | |
| Impairment charges | | | (18,006 | ) | | | (46 | ) | | | (25,433 | ) | | | (9,557 | ) |
| Total discontinued operations | | | (17,772 | ) | | | 1,045 | | | | (22,487 | ) | | | (6,334 | ) |
| Net loss | | | (29,701 | ) | | | (76,393 | ) | | | (59,027 | ) | | | (140,213 | ) |
| Less net loss (income) attributable to noncontrolling interests | | | 5,600 | | | | (715 | ) | | | 8,159 | | | | (1,843 | ) |
| Net loss attributable to Lexington Realty Trust shareholders | | | (24,101 | ) | | | (77,108 | ) | | | (50,868 | ) | | | (142,056 | ) |
| Dividends attributable to preferred shares – Series B | | | (1,590 | ) | | | (1,590 | ) | | | (3,180 | ) | | | (3,180 | ) |
| Dividends attributable to preferred shares – Series C | | | (1,703 | ) | | | (1,703 | ) | | | (3,405 | ) | | | (3,814 | ) |
| Dividends attributable to preferred shares – Series D | | | (2,925 | ) | | | (2,925 | ) | | | (5,851 | ) | | | (5,851 | ) |
| Dividends attributable to non-vested common shares | | | (60 | ) | | | (130 | ) | | | (123 | ) | | | (258 | ) |
| Conversion dividend – Series C | | | — | | | | (6,994 | ) | | | — | | | | (6,994 | ) |
| Net loss attributable to common shareholders | | $ | (30,379 | ) | | $ | (90,450 | ) | | $ | (63,427 | ) | | $ | (162,153 | ) |
| | | | | | | | | | | | | | | | | |
| Income (loss) per common share – basic and diluted: | | | | | | | | | | | | | | | | |
| Loss from continuing operations | | $ | (0.14 | ) | | $ | (0.88 | ) | | $ | (0.37 | ) | | $ | (1.52 | ) |
| Income (loss) from discontinued operations | | | (0.09 | ) | | | 0.01 | | | | (0.13 | ) | | | (0.07 | ) |
| Net loss attributable to common shareholders | | $ | (0.23 | ) | | $ | (0.87 | ) | | $ | (0.50 | ) | | $ | (1.59 | ) |
| | | | | | | | | | | | | | | | | |
| Weighted average common shares outstanding – basic and diluted | | | 133,141,084 | | | | 104,163,378 | | | | 127,339,144 | | | | 102,070,600 | |
| | | | | | | | | | | | | | | | | |
| Amounts attributable to common shareholders: | | | | | | | | | | | | | | | | |
| Loss from continued operations | | $ | (18,951 | ) | | $ | (91,052 | ) | | $ | (47,299 | ) | | $ | (155,391 | ) |
| Income (loss) from discontinued operations | | | (11,428 | ) | | | 602 | | | | (16,128 | ) | | | (6,762 | ) |
| Net loss attributable to common shareholders | | $ | (30,379 | ) | | $ | (90,450 | ) | | $ | (63,427 | ) | | $ | (162,153 | ) |
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
June 30, 2010 and December 31, 2009
(Unaudited and in thousands, except share and per share data)
| | | 2010 | | | 2009 | |
| Assets: | | | | | | |
| Real estate, at cost | | $ | 3,419,589 | | | $ | 3,552,806 | |
| Less: accumulated depreciation and amortization | | | 577,161 | | | | 537,406 | |
| | | | 2,842,428 | | | | 3,015,400 | |
| Properties held for sale – discontinued operations | | | 61,003 | | | | — | |
| Intangible assets, net | | | 225,763 | | | | 267,161 | |
| Cash and cash equivalents | | | 102,030 | | | | 53,865 | |
| Restricted cash | | | 28,604 | | | | 21,519 | |
| Investment in and advances to non-consolidated entities | | | 63,348 | | | | 55,985 | |
| Deferred expenses, net | | | 39,160 | | | | 38,245 | |
| Notes receivable, net | | | 85,097 | | | | 60,567 | |
| Rent receivable – current | | | 9,421 | | | | 11,463 | |
| Rent receivable – deferred | | | 13,058 | | | | 12,529 | |
| Other assets | | | 42,913 | | | | 43,111 | |
| Total assets | | $ | 3,512,825 | | | $ | 3,579,845 | |
| | | | | | | | | |
| Liabilities and Equity: | | | | | | | | |
| Liabilities: | | | | | | | | |
| Mortgages and notes payable | | $ | 1,724,258 | | | $ | 1,857,909 | |
| Exchangeable notes payable | | | 61,106 | | | | 85,709 | |
| Convertible notes payable | | | 102,242 | | | | - | |
| Trust preferred securities | | | 129,120 | | | | 129,120 | |
| Contract right payable | | | 15,001 | | | | 15,252 | |
| Dividends payable | | | 19,606 | | | | 18,412 | |
| Liabilities – discontinued operations | | | 4,536 | | | | — | |
| Accounts payable and other liabilities | | | 36,851 | | | | 43,629 | |
| Accrued interest payable | | | 13,679 | | | | 11,068 | |
| Deferred revenue - below market leases, net | | | 100,948 | | | | 107,535 | |
| Prepaid rent | | | 17,035 | | | | 13,975 | |
| | | | 2,224,382 | | | | 2,282,609 | |
| Commitments and contingencies | | | | | | | | |
| | | | | | | | | |
| Equity: | | | | | | | | |
| Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares, | | | | | | | | |
| Series B Cumulative Redeemable Preferred, liquidation preference $79,000, 3,160,000 shares issued and outstanding | | | 76,315 | | | | 76,315 | |
| Series C Cumulative Convertible Preferred, liquidation preference $104,760, 2,095,200 shares issued and outstanding | | | 101,778 | | | | 101,778 | |
| Series D Cumulative Redeemable Preferred, liquidation preference $155,000, 6,200,000 shares issued and outstanding | | | 149,774 | | | | 149,774 | |
| Common shares, par value $0.0001 per share; authorized 400,000,000 shares, 133,878,864 and 121,943,258 shares issued and outstanding in 2010 and 2009, respectively | | | 13 | | | | 12 | |
| Additional paid-in-capital | | | 1,843,389 | | | | 1,750,979 | |
| Accumulated distributions in excess of net income | | | (960,919 | ) | | | (870,862 | ) |
| Accumulated other comprehensive income (loss) | | | (789 | ) | | | 673 | |
| Total shareholders’ equity | | | 1,209,561 | | | | 1,208,669 | |
| Noncontrolling interests | | | 78,882 | | | | 88,567 | |
| Total equity | | | 1,288,443 | | | | 1,297,236 | |
| Total liabilities and equity | | $ | 3,512,825 | | | $ | 3,579,845 | |
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
COMPANY FUNDS FROM OPERATIONS PER SHARE
(Unaudited and in thousands, except share and per share data)
| | | Three Months Ended June 30, | | | Six Months Ended June 30, | |
| | | 2010 | | | 2009 | | | 2010 | | | 2009 | |
COMPANY FUNDS FROM OPERATIONS: (1) | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Basic and Diluted: | | | | | | | | | | | | |
| Net loss attributable to common shareholders | | $ | (30,379 | ) | | $ | (90,450 | ) | | $ | (63,427 | ) | | $ | (162,153 | ) |
| Adjustments: | | | | | | | | | | | | | | | | |
| Depreciation and amortization | | | 40,358 | | | | 44,724 | | | | 83,480 | | | | 91,410 | |
| Noncontrolling interests - OP units | | | 447 | | | | 624 | | | | 756 | | | | 712 | |
| Amortization of leasing commissions | | | 695 | | | | 713 | | | | 1,767 | | | | 1,482 | |
| Joint venture and noncontrolling interest adjustment | | | (526 | ) | | | (4 | ) | | | (846 | ) | | | 6,291 | |
| Preferred dividends - Series C | | | 1,703 | | | | 8,697 | | | | 3,405 | | | | 10,808 | |
| Gains on sale of properties | | | (52 | ) | | | (3,186 | ) | | | (498 | ) | | | (6,280 | ) |
| Interest and amortization on 6.00% Convertible Notes | | | 2,325 | | | | — | | | | 3,958 | | | | — | |
| Company FFO | | $ | 14,571 | | | $ | (38,882 | ) | | $ | 28,595 | | | $ | (57,730 | ) |
| | | | | | | | | | | | | | | | | |
| Basic: | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding –basic EPS | | | 133,141,084 | | | | 104,163,378 | | | | 127,339,144 | | | | 102,070,600 | |
| 6.00% Convertible Notes | | | 16,230,905 | | | | — | | | | 13,918,888 | | | | — | |
| Non-vested share-based payment awards | | | 58,512 | | | | — | | | | 51,664 | | | | — | |
| Operating Partnership Units | | | 5,379,186 | | | | 5,437,194 | | | | 5,384,193 | | | | 5,373,650 | |
| Preferred Shares – Series C | | | 5,099,507 | | | | 5,791,818 | | | | 5,099,507 | | | | 5,720,779 | |
| Weighted average common shares outstanding–basic Company FFO | | | 159,909,194 | | | | 115,392,390 | | | | 151,793,396 | | | | 113,165,029 | |
| Company FFO per common share—basic | | $ | 0.09 | | | $ | (0.34 | ) | | $ | 0.19 | | | $ | (0.51 | ) |
| | | | | | | | | | | | | | | | | |
| Diluted: | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding –basic EPS | | | 133,141,084 | | | | 104,163,378 | | | | 127,339,144 | | | | 102,070,600 | |
| 6.00% Convertible Notes | | | 16,230,905 | | | | — | | | | 13,918,888 | | | | — | |
| Non-vested share-based payment awards | | | 58,512 | | | | — | | | | 51,664 | | | | — | |
| Operating Partnership Units | | | 5,379,186 | | | | 5,437,194 | | | | 5,384,193 | | | | 5,373,650 | |
| Preferred Shares – Series C | | | 5,099,507 | | | | 5,791,818 | | | | 5,099,507 | | | | 5,720,779 | |
| Options – incremental shares | | | 37,755 | | | | — | | | | 2,145 | | | | — | |
| Weighted average common shares outstanding–diluted Company FFO | | | 159,946,949 | | | | 115,392,390 | | | | 151,795,541 | | | | 113,165,029 | |
| Company FFO per common share—diluted | | $ | 0.09 | | | $ | (0.34 | ) | | $ | 0.19 | | | $ | (0.51 | ) |
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
EARNINGS PER SHARE
(Unaudited and in thousands, except share and per share data)
| | | Three Months Ended June 30, | | | Six Months Ended June 30, | |
| | | 2010 | | | 2009 | | | 2010 | | | 2009 | |
| EARNINGS PER SHARE: | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Basic and Diluted: | | | | | | | | | | | | |
| Loss from continuing operations attributable to common shareholders | | $ | (18,951 | ) | | $ | (91,052 | ) | | $ | (47,299 | ) | | $ | (155,391 | ) |
| Income (loss) from discontinued operations attributable to common shareholders | | | (11,428 | ) | | | 602 | | | | (16,128 | ) | | | (6,762 | ) |
| Net loss attributable to common shareholders | | $ | (30,379 | ) | | $ | (90,450 | ) | | $ | (63,427 | ) | | $ | (162,153 | ) |
| | | | | | | | | | | | | | | | | |
| Weighted average number of common shares outstanding | | | 133,141,084 | | | | 104,163,378 | | | | 127,339,144 | | | | 102,070,600 | |
| Income (loss) per common share: | | | | | | | | | | | | | | | | |
| Loss from continuing operations | | $ | (0.14 | ) | | $ | (0.88 | ) | | $ | (0.37 | ) | | $ | (1.52 | ) |
| Income (loss) from discontinued operations | | | (0.09 | ) | | | 0.01 | | | | (0.13 | ) | | | (0.07 | ) |
| Net loss attributable to common shareholders | | $ | (0.23 | ) | | $ | (0.87 | ) | | $ | (0.50 | ) | | $ | (1.59 | ) |
1 Lexington believes that Funds from Operations (“FFO”) is a widely recognized and appropriate measure of the performance of an equity REIT. Lexington presents FFO because it considers FFO an important supplemental measure of Lexington’s operating performance. Lexington believes FFO is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. FFO is intended to exclude generally accepted accounting principles (“GAAP”) historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. As a result, FFO provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities, interest costs and other matters without the inclusion of depreciation and amortization, providing perspective that may not necessarily be apparent from net income.
FFO is determined in accordance with standards established by the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”). FFO is defined by NAREIT as “net income (or loss) computed in accordance with GAAP, excluding gains (or losses) from sales of property, plus real estate depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures.” FFO does not represent cash generated from operating activities in accordance with GAAP and is not indicative of cash available to fund cash needs. FFO should not be considered as an alternative to net income as an indicator of our operating performance or as an alternative to cash flow as a measure of liquidity.
Lexington includes in its calculation of FFO, which Lexington refers to as the “Company’s funds from operations” or “Company FFO,” Lexington’s operating partnership units, Lexington’s Series C Cumulative Convertible Preferred Shares, and Lexington’s 6.00% Convertible Notes because these securities are convertible, at the holder’s option, into Lexington’s common shares. Management believes this is appropriate and relevant to securities analysts, investors and other interested parties because Lexington presents Company FFO on a company-wide basis as if all securities that are convertible, at the holder’s option, into Lexington’s common shares, are converted. Since others do not calculate FFO in a similar fashion, Company FFO may not be comparable to similarly titled measures as reported by others.
# # #
LEXINGTON REALTY TRUST
2010 Second Quarter Leasing Summary
| | | NEW LEASES | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Tenants/Guarantors | | Location | | Lease Expiration Date | | | Sq. Ft. | | | New Cash Rent Per Annum ($000)(1) | | | New GAAP Rent Per Annum ($000)(1) | | | | | | | | | | |
| | | Office/Multi-Tenant | | | | | | | | | | | | | | | | | | | | | | | | |
| 1 | | Denise D. Vanlanduyt, Attorney at Law LLC | | Decatur | GA | | | 11/2017 | | | | 1,477 | | | $ | 17 | | | $ | 17 | | | | | | | | | | |
| 2 | | General Electric Company | | Glen Allen | VA | | | 08/2012 | | | | 968 | | | $ | 18 | | | $ | 18 | | | | | | | | | | |
| 3 | | Mockingbird Capital, LLC (2) | | Dallas | TX | | | 08/2013 | | | | 1,878 | | | $ | 22 | | | $ | 22 | | | | | | | | | | |
| 4 | | Ober, Kaler, Grimes & Shriver, A Professional Corporation, d/b/a Ober/Kaler | | Baltimore | MD | | | 03/2026 | | | | 94,213 | | | $ | 536 | | | $ | 2,005 | | | | | | | | | | |
| 5 | | SNL Financial LC (3) | | Glen Allen | VA | | | 09/2015 | | | | 6,235 | | | $ | 62 | | | $ | 62 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 5 | | TOTAL NEW LEASES | | | | | | | | | | 104,771 | | | $ | 655 | | | $ | 2,124 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | LEASE EXTENSIONS | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Tenants/Guarantors | | Location | | Prior Term | | | Lease Expiration Date | | | Sq. Ft. | | | New Cash Rent Per Annum ($000)(1) | | | Prior Cash Rent Per Annum ($000) | | | New GAAP Rent Per Annum ($000)(1) | | | Prior GAAP Rent Per Annum ($000) | |
| | | Office/Multi-Tenant | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 1 | | Amy K. S. Fung, dba Hong Kong Fashion | | Honolulu | HI | | | 03/2010 | | | | 03/2012 | | | | 347 | | | $ | 5 | | | $ | 5 | | | $ | 5 | | | $ | 5 | |
| 2 | | Department of the Navy | | Beaumont | TX | | | 06/2010 | | | | 06/2011 | | | | 1,982 | | | $ | 38 | | | $ | 38 | | | $ | 38 | | | $ | 38 | |
| 3 | | Diabetech, LP (2) | | Dallas | TX | | | 06/2010 | | | | 06/2011 | | | | 424 | | | $ | 6 | | | $ | 6 | | | $ | 6 | | | $ | 6 | |
| 4 | | Hawaii Right to Life Inc. (3) | | Honolulu | HI | | | 10/2010 | | | | 10/2013 | | | | 266 | | | $ | 5 | | | $ | 5 | | | $ | 5 | | | $ | 5 | |
| 5 | | Hazel M. Yoichisako | | Honolulu | HI | | | 05/2010 | | | | 05/2012 | | | | 326 | | | $ | 4 | | | $ | 4 | | | $ | 4 | | | $ | 4 | |
| 6 | | University of Utah | | Salt Lake City | UT | | | 09/2018 | | | | 09/2028 | | | | 295,000 | | | $ | 3,524 | | | $ | 3,701 | | | $ | 3,524 | | | $ | 3,701 | |
| 7 | | VC3 Inc. | | Decatur | GA | | | 04/2010 | | | | 05/2013 | | | | 2,811 | | | $ | 54 | | | $ | 63 | | | $ | 54 | | | $ | 63 | |
| 8 | | Wells Fargo Bank, N.A. (3)(4) | | Allentown | PA | | | 10/2010 | | | | 06/2011 | | | | 71,230 | | | $ | 249 | | | $ | 249 | | | $ | 656 | | | $ | 571 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 8 | | Total office/multi-tenant lease extensions | | | | | | | | | | | | | | 372,386 | | | $ | 3,885 | | | $ | 4,071 | | | $ | 4,292 | | | $ | 4,393 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Industrial | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 1 | | Owens Corning Insulating Systems, LLC | | Hebron | OH | | | 05/2010 | | | | 05/2011 | | | | 400,522 | | | $ | 801 | | | $ | 801 | | | $ | 801 | | | $ | 801 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 1 | | Total industrial lease extension | | | | | | | | | | | | | | 400,522 | | | $ | 801 | | | $ | 801 | | | $ | 801 | | | $ | 801 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Retail | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 1 | | TRU 2005 RE I, LLC (3) | | Clackamas | OR | | | 05/2011 | | | | 05/2016 | | | | 42,842 | | | $ | 298 | | | $ | 298 | | | $ | 298 | | | $ | 317 | |
| 2 | | TRU 2005 RE I, LLC (3) | | Lynnwood | WA | | | 05/2011 | | | | 05/2016 | | | | 43,105 | | | $ | 279 | | | $ | 279 | | | $ | 279 | | | $ | 296 | |
| 3 | | Toys "R" Us-Delaware, Inc. (3) | | Tulsa | OK | | | 05/2011 | | | | 05/2016 | | | | 43,123 | | | $ | 255 | | | $ | 255 | | | $ | 255 | | | $ | 271 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 3 | | Total retail lease extensions | | | | | | | | | | | | | | 129,070 | | | $ | 832 | | | $ | 832 | | | $ | 832 | | | $ | 884 | |
| 12 | | TOTAL LEASE EXTENSIONS | | | | | | | | | | | | | | 901,978 | | | $ | 5,518 | | | $ | 5,704 | | | $ | 5,925 | | | $ | 6,078 | |
| 17 | | TOTAL NEW AND EXTENDED LEASES | | | | | | | | | | | | | | 1,006,749 | | | $ | 6,173 | | | $ | 5,704 | | | $ | 8,049 | | | $ | 6,078 | |
LEXINGTON REALTY TRUST
2010 Second Quarter Leasing Summary (Continued)
| | | LEASE NON-RENEWALS | | | | | | | | | | | | | | | |
| | | Tenants/Guarantors | | Location | | Lease Expiration Date | | | Sq. Ft. | | | Prior Cash Rent Per Annum ($000) | | | Prior GAAP Rent Per Annum ($000) | |
| 1 | | La-Z-Boy Greensboro, Inc. | | Statesville | NC | | | 04/2010 | | | | 168,600 | | | $ | 435 | | | $ | 502 | |
| 2 | | Owens Corning Insulating Systems, Inc. | | Hebron | OH | | | 04/2010 | | | | 102,960 | | | $ | 286 | | | $ | 286 | |
| 3 | | Cardinal Unijax, LLC and Camelot Drive Holdinsgs, LLC (4) | | Jacksonville | FL | | | 06/2010 | | | | 58,589 | | | $ | 148 | | | $ | 148 | |
| | | | | | | | | | | | | | | | | | | | | | |
| 3 | | TOTAL LEASE NON-RENEWALS | | | | | | | | | | 330,149 | | | $ | 869 | | | $ | 936 | |
Footnotes
(1) Represents next twelve months rent unless noted.
(2) Property sold subsequent to June 30, 2010.
(3) New Cash and new GAAP rents annualized for twelve months from lease commencement.
(4) Held as an investment in Net Lease Strategic Assets Fund L.P.
LEXINGTON REALTY TRUST
2010 Second Quarter Monetization Summary
| | | ASSET MONETIZATIONS | | | | | | | | | | | |
| | | Tenants/Guarantors | | Location | | Property Type | | Gross Proceeds ($000) | | | Annualized NOI ($000) | | Month of Disposition |
| 1 | | The Kroger Co. | | Florence, AL | | Retail | | $ | 2,200 | | | $ | 224 | | May |
| 2 | | Vacant | | Westland, MI | | Retail | | $ | 225 | | | $ | (230 | ) | June |
| 3 | | University of Utah (1) | | Salt Lake City, UT | | Office | | $ | 37,000 | | | $ | 3,269 | | May |
| 3 | | TOTAL ASSET MONETIZATIONS | | | | | | $ | 39,425 | | | $ | 3,263 | | |
Footnotes
(1) Represents leasehold financing.
Property Leases and Vacancies - Consolidated Portfolio - 6/30/2010
| Year of Lease Expiration | | Date of Lease Expiration | | Property Location | | City | | State | | Note | | Primary Tenant (Guarantor) | | Year Built/ Renovated/ Expanded | | Sq.Ft. Leased or Available (1) | | Cash Rent as of 06/30/2010 ($000) (2) | | GAAP Base Rent as of 06/30/2010 ($000) (3) | | Fixed Rent at Next Option ($000) (4) | |
| OFFICE PROPERTIES | | | | | | | | | | | | | | | | | | | |
| 2010 | | 12/31/2010 | | 1701 Market St. | | Philadelphia | | PA | | (6)(7) | | City National Bank of New Jersey | | 1957/1997 | | | 5,315 | | | 120 | | | 120 | | | 0 | |
| 2011 | | 1/31/2011 | | 4848 129th East Ave. | | Tulsa | | OK | | — | | HSBC Card Services, Inc. (HSBC Finance Corporation) | | 2000 | | | 101,100 | | | 711 | | | 711 | | | 0 | |
| | | 2/28/2011 | | 4200 RCA Blvd. | | Palm Beach Gardens | | FL | | — | | The Wackenhut Corporation | | 1996 | | | 96,118 | | | 906 | | | 906 | | | 2,402 | |
| | | 9/30/2011 | | 200 Lucent Ln. | | Cary | | NC | | — | | Alcatel-Lucent USA, Inc. | | 1999 | | | 124,944 | | | 1,140 | | | 1,029 | | | 0 | |
| | | 11/30/2011 | | 207 Mockingbird Ln. | | Johnson City | | TN | | — | | SunTrust Bank | | 1979 | | | 63,800 | | | 338 | | | 378 | | | 675 | |
| | | 12/31/2011 | | 2050 Roanoke Rd. | | Westlake | | TX | | — | | Chrysler Financial Services Americas, LLC | | 2001 | | | 130,290 | | | 1,830 | | | 1,727 | | | 0 | |
| 2012 | | 1/31/2012 | | 26210 and 26220 Enterprise Court | | Lake Forest | | CA | | — | | Apria Healthcare, Inc. (Apria Healthcare Group, Inc.) | | 2001 | | | 100,012 | | | 983 | | | 896 | | | 0 | |
| | | | | 4000 Johns Creek Pkwy. | | Suwanee | | GA | | — | | Kraft Foods Global, Inc. | | 2001 | | | 73,264 | | | 711 | | | 693 | | | 0 | |
| | | | | 1275 Northwest 128th St. | | Clive | | IA | | — | | Principal Life Insurance Company | | 2004 | | | 61,180 | | | 400 | | | 400 | | | 935 | |
| | | 3/31/2012 | | 1701 Market St. | | Philadelphia | | PA | | (6)(7) | | Car-Tel Communications, Inc. | | 1957/1997 | | | 1,220 | | | 24 | | | 24 | | | 0 | |
| | | | | 3940 South Teller St. | | Lakewood | | CO | | — | | MoneyGram Payment Systems, Inc. | | 2002 | | | 68,165 | | | 602 | | | 434 | | | 1,295 | |
| | | | | 120 East Shore Dr. | | Glen Allen | | VA | | — | | Capital One Services, LLC | | 2000 | | | 77,045 | | | 438 | | | 396 | | | 847 | |
| | | 6/30/2012 | | 275 South Valencia Ave. | | Brea | | CA | | — | | Bank of America, NA | | 1983 | | | 637,503 | | | 4,355 | | | 4,397 | | | 0 | |
| | | 8/31/2012 | | 5757 Decatur Blvd. | | Indianapolis | | IN | | — | | Allstate Insurance Company | | 2002 | | | 84,200 | | | 686 | | | 774 | | | 0 | |
| | | | | | | | | | | | | Damar Services, Inc. | | 2002 | | | 5,756 | | | 22 | | | 22 | | | 47 | |
| | | | | 2706 Media Center Dr. | | Los Angeles | | CA | | — | | Sony Electronics, Inc. | | 2000 | | | 20,203 | | | 105 | | | 105 | | | 0 | |
| | | 10/31/2012 | | 4455 American Way | | Baton Rouge | | LA | | — | | Bell South Mobility, Inc. | | 1997 | | | 70,100 | | | 565 | | | 557 | | | 0 | |
| | | 11/7/2012 | | 2706 Media Center Dr. | | Los Angeles | | CA | | — | | Playboy Enterprises, Inc. | | 2000 | | | 63,049 | | | 738 | | | 629 | | | 0 | |
| | | 11/14/2012 | | 2211 South 47th St. | | Phoenix | | AZ | | — | | Avnet, Inc. | | 1997 | | | 176,402 | | | 1,204 | | | 1,130 | | | 0 | |
| | | 12/31/2012 | | 200 Executive Blvd. South | | Southington | | CT | | — | | Hartford Fire Insurance Company | | 1984/2006 | | | 153,364 | | | 840 | | | 812 | | | 0 | |
| 2013 | | 1/31/2013 | | 12600 Gateway Blvd. | | Fort Meyers | | FL | | — | | Gartner, Inc. | | 1998 | | | 62,400 | | | 559 | | | 546 | | | 0 | |
| | | | | 810 & 820 Gears Rd. | | Houston | | TX | | — | | IKON Office Solutions, Inc. | | 2000 | | | 157,790 | | | 1,126 | | | 1,126 | | | 0 | |
| | | 3/31/2013 | | 3165 McKelvey Rd. | | Bridgeton | | MO | | — | | BJC Health System | | 1981 | | | 52,994 | | | 192 | | | 263 | | | 0 | |
| | | | | 8900 Freeport Pkwy. | | Irving | | TX | | — | | Nissan Motor Acceptance Corporation (Nissan North America, Inc.) | | 2003 | | | 268,445 | | | 2,457 | | | 2,444 | | | 0 | |
| | | 4/30/2013 | | Sandlake Rd./Kirkman Rd. | | Orlando | | FL | | — | | Lockheed Martin Corporation | | 1982 | | | 184,000 | | | 480 | | | 935 | | | 960 | |
| | | 5/31/2013 | | 6303 Barfield Rd. | | Atlanta | | GA | | — | | International Business Machines Corporation (Internet Security Systems, Inc.) | | 2000/2001 | | | 238,600 | | | 2,411 | | | 2,441 | | | 0 | |
| | | 6/30/2013 | | 2210 Enterprise Dr. | | Florence | | SC | | (6) | | JPMorgan Chase Bank, National Association | | 1998 | | | 179,300 | | | 628 | | | 628 | | | 0 | |
| | | 9/30/2013 | | 9200 South Park Center Loop | | Orlando | | FL | | (6) | | Corinthian Colleges, Inc. | | 2003 | | | 59,927 | | | 640 | | | 579 | | | 0 | |
| | | 11/30/2013 | | 1110 Bayfield Dr. | | Colorado Springs | | CO | | — | | Honeywell International, Inc. | | 1980/1990/2002 | | | 166,575 | | | 872 | | | 800 | | | 1,713 | |
| | | 12/13/2013 | | 3333 Coyote Hill Rd. | | Palo Alto | | CA | | — | | Xerox Corporation | | 1973/1975/1982 | | | 202,000 | | | 1,749 | | | 1,695 | | | 0 | |
| | | 12/31/2013 | | 2550 Interstate Dr. | | Harrisburg | | PA | | — | | New Cingular Wireless PCS, LLC | | 1998 | | | 81,859 | | | 931 | | | 935 | | | 0 | |
| 2014 | | 1/31/2014 | | 1701 Market St. | | Philadelphia | | PA | | (7) | | Morgan, Lewis & Bockius, LLC | | 1957/1997 | | | 290,565 | | | 2,232 | | | 2,232 | | | 4,631 | |
| | | 3/15/2014 | | 101 East Erie St. | | Chicago | | IL | | — | | Draftfcb, Inc. (Interpublic Group of Companies, Inc.) | | 1986 | | | 218,414 | | | 2,014 | | | 2,449 | | | 0 | |
| | | 5/31/2014 | | 3476 Stateview Blvd. | | Fort Mill | | SC | | — | | Wells Fargo Bank, N.A. | | 2002 | | | 169,083 | | | 1,272 | | | 1,267 | | | 0 | |
| | | | | 3480 Stateview Blvd. | | Fort Mill | | SC | | — | | Wells Fargo Bank, N.A. | | 2004 | | | 169,218 | | | 1,744 | | | 1,733 | | | 0 | |
| | | | | 859 Mount Vernon Hwy. | | Atlanta | | GA | | (12) | | International Business Machines Corporation (Internet Security Systems, Inc.) | | 2004 | | | 50,400 | | | 613 | | | 515 | | | 0 | |
| | | 7/31/2014 | | 16676 Northchase Dr. | | Houston | | TX | | — | | Anadarko Petroleum Corporation | | 2003 | | | 101,111 | | | 814 | | | 813 | | | 0 | |
| | | 9/30/2014 | | 333 Mt. Hope Ave. | | Rockaway | | NJ | | — | | BASF Corporation | | 1981/2002/2004 | | | 95,500 | | | 1,122 | | | 1,061 | | | 0 | |
| | | 10/31/2014 | | 1409 Centerpoint Blvd. | | Knoxville | | TN | | — | | Alstom Power, Inc. | | 1997 | | | 84,404 | | | 807 | | | 810 | | | 0 | |
| | | | | 2800 Waterford Lake Dr. | | Midlothian | | VA | | — | | Alstom Power, Inc. | | 2000 | | | 99,057 | | | 1,005 | | | 1,007 | | | 0 | |
| | | | | 700 US Hwy. Route 202-206 | | Bridgewater | | NJ | | — | | Biovail Pharmaceuticals, Inc. (Biovail Corporation) | | 1985/2003/2004 | | | 115,558 | | | 1,156 | | | 1,424 | | | 0 | |
| | | 12/14/2014 | | 5150 220th Ave. | | Issaquah | | WA | | — | | OSI Systems, Inc. (Instrumentarium Corporation) | | 1992 | | | 106,944 | | | 1,097 | | | 1,076 | | | 0 | |
| | | | | 22011 Southeast 51st St. | | Issaquah | | WA | | — | | OSI Systems, Inc. (Instrumentarium Corporation) | | 1987 | | | 95,600 | | | 973 | | | 944 | | | 0 | |
Property Leases and Vacancies - Consolidated Portfolio - 6/30/2010
| Year of Lease Expiration | | Date of Lease Expiration | | Property Location | | City | | State | | Note | | Primary Tenant (Guarantor) | | Year Built/ Renovated/ Expanded | | Sq.Ft. Leased or Available (1) | | Cash Rent as of 06/30/2010 ($000) (2) | | GAAP Base Rent as of 06/30/2010 ($000) (3) | | Fixed Rent at Next Option ($000) (4) | |
| | | 12/31/2014 | | 1066 Main St. | | Forest Park | | GA | | — | | Bank of America, NA (Bank of America Corporation) | | 1969 | | | 14,859 | | | 100 | | | 100 | | | 199 | |
| | | | | 180 South Clinton St. | | Rochester | | NY | | (6) | | Frontier Corporation | | 1988/2000 | | | 226,000 | | | 1,488 | | | 1,485 | | | 0 | |
| | | | | 201 West Main St. | | Cumming | | GA | | — | | Bank of America, NA (Bank of America Corporation) | | 1968/1982 | | | 14,208 | | | 100 | | | 100 | | | 198 | |
| | | | | 2223 North Druid Hills Rd. | | Atlanta | | GA | | — | | Bank of America, NA (Bank of America Corporation) | | 1972 | | | 6,260 | | | 56 | | | 56 | | | 112 | |
| | | | | 275 Technology Dr. | | Canonsburg | | PA | | — | | ANSYS, Inc. | | 1996 | | | 107,872 | | | 715 | | | 689 | | | 0 | |
| | | | | 400 Butler Farm Rd. | | Hampton | | VA | | — | | Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company) | | 1999 | | | 100,632 | | | 615 | | | 621 | | | 0 | |
| | | | | 4545 Chamblee – Dunwoody Rd. | | Chamblee | | GA | | — | | Bank of America, NA (Bank of America Corporation) | | 1972 | | | 4,565 | | | 45 | | | 45 | | | 88 | |
| | | | | 825 Southway Dr. | | Jonesboro | | GA | | — | | Bank of America, NA (Bank of America Corporation) | | 1971 | | | 4,894 | | | 39 | | | 39 | | | 77 | |
| | | | | 956 Ponce de Leon Ave. | | Atlanta | | GA | | — | | Bank of America, NA (Bank of America Corporation) | | 1975 | | | 3,900 | | | 40 | | | 40 | | | 78 | |
| | | | | 1698 Mountain Industrial Blvd. | | Stone Mountain | | GA | | — | | Bank of America, NA (Bank of America Corporation) | | 1973 | | | 5,704 | | | 48 | | | 48 | | | 95 | |
| 2015 | | 1/31/2015 | | 26555 Northwestern Hwy. | | Southfield | | MI | | — | | Federal-Mogul Corporation | | 1963/1965/1988/1989 | | | 187,163 | | | 579 | | | 709 | | | 0 | |
| | | 4/30/2015 | | 13775 McLearen Rd. | | Herndon | | VA | | — | | Equant, Inc. (Equant, NV) | | 1984/1988/1992 | | | 125,293 | | | 1,055 | | | 1,066 | | | 0 | |
| | | 6/30/2015 | | 389-399 Interpace Hwy. | | Parsippany | | NJ | | — | | Cadbury Schweppes Holdings | | 1999 | | | 133,647 | | | 1,983 | | | 1,977 | | | 0 | |
| | | 7/1/2015 | | 33 Commercial St. | | Foxboro | | MA | | — | | Invensys Systems, Inc. (Siebe, Inc.) | | 1982/1987 | | | 164,689 | | | 2,800 | | | 1,752 | | | 3,024 | |
| | | 7/31/2015 | | 4001 International Pkwy. | | Carrollton | | TX | | — | | Motel 6 Operating, LP (Accor S.A.) | | 2003 | | | 138,443 | | | 1,596 | | | 1,597 | | | 3,580 | |
| | | 9/27/2015 | | 10001 Richmond Ave. | | Houston | | TX | | — | | Baker Hughes, Inc. | | 1976/1984 | | | 554,385 | | | 6,375 | | | 3,688 | | | 6,596 | |
| | | | | 12645 West Airport Rd. | | Sugar Land | | TX | | — | | Baker Hughes, Inc. | | 1997 | | | 165,836 | | | 1,622 | | | 974 | | | 1,976 | |
| | | 9/30/2015 | | 500 Olde Worthington Rd. | | Westerville | | OH | | (5) | | InVentiv Communications, Inc. | | 2000 | | | 97,000 | | | 556 | | | 628 | | | 0 | |
| | | | | 550 Business Center Dr. | | Lake Mary | | FL | | — | | JPMorgan Chase Bank, National Association | | 1999 | | | 125,920 | | | 894 | | | 1,048 | | | 0 | |
| | | | | 600 Business Center Dr. | | Lake Mary | | FL | | — | | JPMorgan Chase Bank, National Association | | 1996 | | | 125,155 | | | 857 | | | 1,025 | | | 0 | |
| | | 10/31/2015 | | 12209 West Markham St. | | Little Rock | | AR | | — | | Entergy Arkansas, Inc. | | 1981 | | | 36,311 | | | 119 | | | 119 | | | 237 | |
| 2016 | | 4/30/2016 | | 11511 Luna Rd. | | Farmers Branch | | TX | | — | | Haggar Clothing Company (Texas Holding Clothing Corporation and Haggar Corporation) | | 2000 | | | 180,507 | | | 1,109 | | | 1,594 | | | 2,531 | |
| | | | | 2000 Eastman Dr. | | Milford | | OH | | — | | Siemens Shared Services, LLC | | 1991 | | | 221,215 | | | 1,243 | | | 911 | | | 2,486 | |
| | | 10/31/2016 | | 104 & 110 South Front St. | | Memphis | | TN | | — | | Hnedak Bobo Group, Inc. | | 1871/1988/1999 | | | 37,229 | | | 242 | | | 251 | | | 0 | |
| | | 11/30/2016 | | 4000 Johns Creek Pkwy. | | Suwanee | | GA | | — | | PerkinElmer Instruments, LLC | | 2001 | | | 13,955 | | | 114 | | | 116 | | | 0 | |
| | | 12/31/2016 | | 37101 Corporate Dr. | | Farmington Hills | | MI | | (19) | | Continental Automotive Systems, Inc. | | 2001 | | | 119,829 | | | 1,537 | | | 1,221 | | | 0 | |
| 2017 | | 4/30/2017 | | 1315 West Century Dr. | | Louisville | | CO | | — | | Global Healthcare Exchange, Inc. (Global Healthcare Exchange, LLC) | | 1987/2006 | | | 106,877 | | | 713 | | | 800 | | | 0 | |
| | | 9/30/2017 | | 9201 East Dry Creek Rd. | | Centennial | | CO | | — | | The Shaw Group, Inc. | | 2001/2002 | | | 128,500 | | | 1,119 | | | 1,186 | | | 0 | |
| | | 11/30/2017 | | 6200 Northwest Pkwy. | | San Antonio | | TX | | — | | United HealthCare Services, Inc. | | 2000 | | | 142,500 | | | 820 | | | 933 | | | 0 | |
| 2018 | | 5/30/2018 | | 13651 McLearen Rd. | | Herndon | | VA | | — | | US Government | | 1987 | | | 159,664 | | | 1,529 | | | 1,693 | | | 0 | |
| | | 6/30/2018 | | 100 Barnes Rd. | | Wallingford | | CT | | — | | 3M Company | | 1978/1985/1990/1993 | | | 44,400 | | | 340 | | | 254 | | | 0 | |
| | | 7/31/2018 | | 4200 RCA Blvd. | | Palm Beach Gardens | | FL | | — | | Office Suites Plus Properties, Inc. | | 1996 | | | 18,400 | | | 218 | | | 224 | | | 0 | |
| | | 9/30/2018 | | 1701 Market St. | | Philadelphia | | PA | | (6)(7) | | Brinker Corner Bakery II, LLC | | 1957/1997 | | | 8,070 | | | 104 | | | 105 | | | 0 | |
| | | 11/30/2018 | | 4201 Marsh Ln. | | Carrollton | | TX | | — | | Carlson Restaurants Worldwide, Inc. (Carlson Companies, Inc.) | | 2003 | | | 130,000 | | | 963 | | | 988 | | | 0 | |
| | | 12/22/2018 | | 5200 Metcalf Ave. | | Overland Park | | KS | | (6) | | Swiss Re America Holding Corporation | | 1980/1990/2004/2005 | | | 320,198 | | | 2,235 | | | 2,252 | | | 0 | |
| 2019 | | 4/1/2019 | | 9201 Stateline Rd. | | Kansas City | | MO | | (6) | | Swiss Re America Holding Corporation | | 1963/1973/1985/2003 | | | 155,925 | | | 1,047 | | | 1,047 | | | 0 | |
| | | 6/19/2019 | | 3965 Airways Blvd. | | Memphis | | TN | | — | | Federal Express Corporation | | 1982/1983/1985 | | | 521,286 | | | 3,388 | | | 3,506 | | | 5,375 | |
| | | 7/31/2019 | | 500 Jackson St. | | Columbus | | IN | | — | | Cummins, Inc. | | 1984 | | | 390,100 | | | 2,213 | | | 2,270 | | | 4,925 | |
| | | 10/31/2019 | | 10475 Crosspoint Blvd. | | Fishers | | IN | | (6) | | John Wiley & Sons, Inc. | | 1999 | | | 123,416 | | | 1,049 | | | 1,134 | | | 0 | |
| | | 12/31/2019 | | 421 Butler Farm Rd. | | Hampton | | VA | | — | | Patient Advocate Foundation | | 2000 | | | 36,484 | | | 115 | | | 115 | | | 0 | |
| | | | | 850-950 Warrenville Rd. | | Lisle | | IL | | (5) | | National-Louis University | | 1985 | | | 99,414 | | | 703 | | | 830 | | | 0 | |
| 2020 | | 1/31/2020 | | 10300 Kincaid Dr. | | Fishers | | IN | | — | | Roche Diagnostics Operations, Inc. | | 1999 | | | 193,000 | | | 1,367 | | | 1,712 | | | 3,812 | |
| | | 2/14/2020 | | 5600 Broken Sound Blvd. | | Boca Raton | | FL | | (6) | | Océ Printing Systems USA, Inc. (Oce-USA Holding, Inc.) | | 1983/2002 | | | 136,789 | | | 1,081 | | | 1,122 | | | 0 | |
| | | 7/8/2020 | | 1460 Tobias Gadsen Blvd. | | Charleston | | SC | | (6) | | Hagemeyer North America, Inc. | | 2005 | | | 50,076 | | | 381 | | | 420 | | | 0 | |
Property Leases and Vacancies - Consolidated Portfolio - 6/30/2010
| Year of Lease Expiration | | Date of Lease Expiration | | Property Location | | City | | State | | Note | | Primary Tenant (Guarantor) | | Year Built/ Renovated/ Expanded | | Sq.Ft. Leased or Available (1) | | Cash Rent as of 06/30/2010 ($000) (2) | | GAAP Base Rent as of 06/30/2010 ($000) (3) | | Fixed Rent at Next Option ($000) (4) | |
| 2021 | | 1/31/2021 | | 389-399 Interpace Hwy. | | Parsippany | | NJ | | — | | Reckitt Benckiser, Inc. | | 1999 | | | 186,889 | | | 2,581 | | | 2,758 | | | 0 | |
| | | 3/31/2021 | | 1311 Broadfield Blvd. | | Houston | | TX | | — | | Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.) | | 2000 | | | 155,040 | | | 1,530 | | | 1,312 | | | 0 | |
| | | 6/30/2021 | | 1415 Wyckoff Rd. | | Wall | | NJ | | — | | New Jersey Natural Gas Company | | 1983 | | | 157,511 | | | 1,462 | | | 1,462 | | | 4,224 | |
| | | 11/30/2021 | | 29 South Jefferson Rd. | | Whippany | | NJ | | — | | CAE SimuFlite, Inc. (HP Whippany, LLC) | | 2006/2008 | | | 123,734 | | | 1,163 | | | 1,164 | | | 2,069 | |
| 2022 | | 12/31/2022 | | 147 Milk St. | | Boston | | MA | | — | | Harvard Vanguard Medical Associates, Inc. | | 1910 | | | 52,337 | | | 766 | | | 831 | | | 0 | |
| 2023 | | 3/31/2023 | | 6555 Sierra Dr. | | Irving | | TX | | — | | TXU Energy Retail Company, LLC (Texas Competitive Electric Holdings Company, LLC) | | 1999 | | | 247,254 | | | 1,325 | | | 1,476 | | | 0 | |
| | | 7/31/2023 | | 11201 Renner Blvd. | | Lenexa | | KS | | (6) | | Applebee’s Services, Inc. (DineEquity, Inc.) | | 2007 | | | 178,000 | | | 1,781 | | | 1,951 | | | 0 | |
| 2025 | | 11/30/2025 | | 11707 Miracle Hills Dr. | | Omaha | | NE | | — | | Infocrossing, LLC (Infocrossing, Inc.) | | 1988/1995 | | | 85,200 | | | 583 | | | 583 | | | 0 | |
| | | 12/31/2025 | | 2005 East Technology Cir. | | Tempe | | AZ | | — | | Infocrossing, Inc. | | 1998 | | | 60,000 | | | 564 | | | 564 | | | 0 | |
| 2028 | | 9/30/2028 | | 295 Chipeta Way | | Salt Lake City | | UT | | — | | University of Utah | | 1982 | | | 295,000 | | | 1,830 | | | 1,830 | | | 0 | |
| 2029 | | 1/31/2029 | | 6226 West Sahara Ave. | | Las Vegas | | NV | | — | | Nevada Power Company | | 1982 | | | 282,000 | | | 4,007 | | | 2,106 | | | 2,914 | |
| | | 12/31/2029 | | 400 East Stone Ave. | | Greenville | | SC | | (13) | | Canal Insurance Company | | 1948/1981/1982/1986/1991/2006/2008 | | | 128,041 | | | 452 | | | 0 | | | 0 | |
| N/A | | N/A | | 10475 Crosspoint Blvd. | | Fishers | | IN | | — | | (Available for Lease) | | 1999 | | | 17,631 | | | 0 | | | 0 | | | 0 | |
| | | | | 1701 Market St. | | Philadelphia | | PA | | (7) | | Parking Operators | | 1957/1997 | | | 0 | | | 1,089 | | | 1,089 | | | 0 | |
| | | | | 421 Butler Farm Rd. | | Hampton | | VA | | — | | (Available for Lease)(Amounts represent prior tenant) | | 2000 | | | 20,080 | | | 30 | | | 27 | | | 0 | |
| | | | | 389-399 Interpace Hwy. | | Parsippany | | NJ | | — | | (Available for Lease)(Amounts represent prior tenant) | | 1999 | | | 19,704 | | | 43 | | | 43 | | | 0 | |
| | | | | 101 East Erie St. | | Chicago | | IL | | — | | (Available for Lease) | | 1986 | | | 12,270 | | | 0 | | | 0 | | | 0 | |
| OFFICE TOTAL/WEIGHTED AVERAGE | | | | | | | | 99.5% Leased | | | | | 13,064,035 | | $ | 108,130 | | $ | 103,549 | | | | |
Property Leases and Vacancies - Consolidated Portfolio - 6/30/2010
Year of Lease Expiration | | Date of Lease Expiration | | Property Location | | City | | State | | Note | | Primary Tenant (Guarantor) | | Year Built/ Renovated/ Expanded | | Sq.Ft. Leased or Available (1) | | Cash Rent as of 06/30/2010 ($000) (2) | | GAAP Base Rent as of 06/30/2010 ($000) (3) | | Fixed Rent at Next Option ($000) (4) | |
| INDUSTRIAL PROPERTIES | | | | | | | | | | | | | | | | | | | |
| 2011 | | 3/31/2011 | | 2455 Premier Dr. | | Orlando | | FL | | — | | Walgreen Co. | | 1980 | | | 205,016 | | | 254 | | | 393 | | | 508 | |
| | | 5/31/2011 | | 200 Arrowhead Dr. | | Hebron | | OH | | — | | Owens Corning Insulating Systems, LLC | | 2000 | | | 400,522 | | | 401 | | | 401 | | | 0 | |
| | | | | 291 Park Center Dr. | | Winchester | | VA | | (5) | | Kraft Foods Global, Inc. | | 2001 | | | 344,700 | | | 804 | | | 788 | | | 0 | |
| | | 9/25/2011 | | 3820 Micro Dr. | | Millington | | TN | | (6) | | Ingram Micro, L.P (Ingram Micro, Inc.) | | 1997 | | | 701,819 | | | 1,220 | | | 1,185 | | | 0 | |
| 2012 | | 8/4/2012 | | 101 Michelin Dr. | | Laurens | | SC | | — | | CEVA Logistics U.S., Inc. (TNT Logistics Holdings, B.V.) | | 1991/1993 | | | 1,164,000 | | | 1,707 | | | 1,652 | | | 2,619 | |
| | | | | 7111 Crabb Rd. | | Temperance | | MI | | — | | CEVA Logistics U.S., Inc. (TNT Logistics Holdings, B.V.) | | 1978/1993 | | | 744,570 | | | 1,144 | | | 1,107 | | | 1,756 | |
| | | 10/31/2012 | | 43955 Plymouth Oaks Blvd. | | Plymouth | | MI | | — | | Tower Automotive Operations USA I, LLC (Tower Automotive Inc.) | | 1996/1998 | | | 290,133 | | | 943 | | | 917 | | | 2,081 | |
| | | 12/31/2012 | | 245 Salem Church Rd. | | Mechanicsburg | | PA | | — | | Exel, Inc. (NFC plc) | | 1985 | | | 252,000 | | | 435 | | | 433 | | | 0 | |
| 2013 | | 5/31/2013 | | 2203 Sherrill Dr. | | Statesville | | NC | | — | | Ozburn-Hessey Logistics, LLC (OHH Acquisition Corporation) | | 1999/2002 | | | 471,000 | | | 681 | | | 744 | | | 0 | |
| 2014 | | 1/2/2014 | | 2415 US Hwy. 78 East | | Moody | | AL | | — | | CEVA Logistics U.S., Inc. (TNT Logistics Holdings, B.V.) | | 2004 | | | 595,346 | | | 527 | | | 527 | | | 1,054 | |
| | | 1/31/2014 | | 1133 Poplar Creek Rd. | | Henderson | | NC | | — | | Staples, Inc. | | 1998/2006 | | | 196,946 | | | 412 | | | 401 | | | 0 | |
| | | 12/31/2014 | | 3686 South Central Ave. | | Rockford | | IL | | — | | Jacobson Warehouse Company, Inc. (Jacobson Distribution Company, Inc. and Jacobson Transportation Company, Inc.) | | 1992 | | | 90,000 | | | 202 | | | 158 | | | 446 | |
| | | | | 75 North St. | | Saugerties | | NY | | (11) | | Rotron, Inc. (EG&G) | | 1979 | | | 52,000 | | | 61 | | | 116 | | | 122 | |
| 2015 | | 12/31/2015 | | 749 Southrock Dr. | | Rockford | | IL | | — | | Jacobson Warehouse Company, Inc. (Jacobson Distribution Company, Inc. and Jacobson Transportation Company, Inc.) | | 1992 | | | 150,000 | | | 238 | | | 244 | | | 525 | |
| 2016 | | 2/28/2016 | | 7670 Hacks Cross Rd. | | Olive Branch | | MS | | — | | MAHLE Clevite, Inc. (MAHLE Industries, Inc.) | | 1989 | | | 268,104 | | | 477 | | | 458 | | | 0 | |
| | | 3/31/2016 | | 19500 Bulverde Rd. | | San Antonio | | TX | | — | | Harcourt, Inc. (Harcourt General, Inc.) | | 2001 | | | 559,258 | | | 1,665 | | | 1,715 | | | 0 | |
| | | 8/31/2016 | | 10590 Hamilton Ave. | | Cincinnati | | OH | | — | | The Hillman Group, Inc. | | 1991/1994/1995/2005 | | | 248,200 | | | 396 | | | 396 | | | 0 | |
| | | 9/30/2016 | | 900 Industrial Blvd. | | Crossville | | TN | | — | | Dana Commercial Vehicle Products, LLC | | 1989/2006 | | | 222,200 | | | 342 | | | 342 | | | 0 | |
| 2017 | | 2/28/2017 | | 3456 Meyers Ave. | | Memphis | | TN | | — | | Sears Logistics Services | | 1973 | | | 780,000 | | | 796 | | | 847 | | | 1,592 | |
| | | 6/30/2017 | | 7500 Chavenelle Rd. | | Dubuque | | IA | | (6) | | The McGraw-Hill Companies, Inc. | | 2002 | | | 330,988 | | | 576 | | | 582 | | | 0 | |
| | | 9/30/2017 | | 250 Swathmore Ave. | | High Point | | NC | | — | | Steelcase, Inc. | | 2002 | | | 244,851 | | | 538 | | | 543 | | | 1,165 | |
| | | 10/31/2017 | | 1420 Greenwood Rd. | | McDonough | | GA | | — | | Versacold USA, Inc. | | 2000/2007 | | | 296,972 | | | 1,322 | | | 1,298 | | | 0 | |
| 2018 | | 6/30/2018 | | 1650-1654 Williams Rd. | | Columbus | | OH | | — | | ODW Logistics, Inc. | | 1973 | | | 772,450 | | | 674 | | | 671 | | | 0 | |
| | | 9/30/2018 | | 50 Tyger River Dr. | | Duncan | | SC | | (6) | | Plastic Omnium Exteriors, LLC | | 2005/2007/2008 | | | 221,833 | | | 479 | | | 479 | | | 0 | |
| 2019 | | 4/30/2019 | | 113 Wells St. | | North Berwick | | ME | | — | | United Technologies Corporation | | 1965/1980 | | | 972,625 | | | 768 | | | 768 | | | 1,200 | |
| | | 10/17/2019 | | 10345 Philipp Pkwy. | | Streetsboro | | OH | | — | | L'Oreal USA S/D, Inc. (L’Oreal USA, Inc.) | | 2004 | | | 649,250 | | | 1,259 | | | 1,305 | | | 3,149 | |
| 2020 | | 3/31/2020 | | 2425 Hwy. 77 North | | Waxahachie | | TX | | — | | James Hardie Building Products, Inc. (James Hardie, NV) | | 1996/2001 | | | 335,610 | | | 1,700 | | | 1,700 | | | 0 | |
| | | 6/30/2020 | | 3102 Queen Palm Dr. | | Tampa | | FL | | — | | Time Customer Service, Inc. (Time, Inc.) | | 1986 | | | 229,605 | | | 572 | | | 638 | | | 0 | |
| | | 9/30/2020 | | 3350 Miac Cove Rd. | | Memphis | | TN | | — | | Mimeo.com, Inc. | | 1987 | | | 107,399 | | | 200 | | | 185 | | | 0 | |
| | | 12/19/2020 | | 1901 Ragu Dr. | | Owensboro | | KY | | (9) | | Unilever Supply Chain, Inc. (Unilever United States, Inc.) | | 1975/1979/1995 | | | 443,380 | | | 521 | | | 743 | | | 1,802 | |
| 2021 | | 3/30/2021 | | 121 Technology Dr. | | Durham | | NH | | — | | Heidelberg Web Systems, Inc. | | 1986/2002/2003 | | | 500,500 | | | 1,092 | | | 999 | | | 0 | |
| | | 5/31/2021 | | 477 Distribution Pkwy. | | Collierville | | TN | | — | | Federal Express Corporation | | 1984/1987/2005 | | | 120,000 | | | 240 | | | 202 | | | 0 | |
| | | 11/30/2021 | | 2880 Kenny Biggs Rd. | | Lumberton | | NC | | — | | Quickie Manufacturing Corporation | | 1998/2001/2006 | | | 423,280 | | | 637 | | | 678 | | | 0 | |
| | | 12/31/2021 | | 224 Harbor Freight Rd. | | Dillon | | SC | | (6) | | Harbor Freight Tools USA, Inc. (Central Purchasing, Inc.) | | 2001/2005 | | | 1,010,859 | | | 1,506 | | | 1,562 | | | 0 | |
| 2025 | | 6/30/2025 | | 10000 Business Blvd. | | Dry Ridge | | KY | | — | | Dana Light Axle Products, LLC (Dana Holding Corporation and Dana Limited) | | 1988/1999 | | | 336,350 | | | 673 | | | 673 | | | 1,402 | |
| | | | | 4010 Airpark Dr. | | Owensboro | | KY | | — | | Metalsa Structural Products, Inc. (Dana Holding Corporation and Dana Limited) | | 1998/2006 | | | 211,598 | | | 604 | | | 604 | | | 829 | |
| | | | | 301 Bill Bryan Rd. | | Hopkinsville | | KY | | — | | Metalsa Structural Products, Inc. (Dana Holding Corporation and Dana Limited) | | 1989/1999/2000/2005 | | | 424,904 | | | 844 | | | 844 | | | 1,512 | |
| | | | | 730 North Black Branch Rd. | | Elizabethtown | | KY | | — | | Metalsa Structural Products, Inc. (Dana Holding Corporation and Dana Limited) | | 2001 | | | 167,770 | | | 268 | | | 268 | | | 558 | |
| | | | | 750 North Black Branch Rd. | | Elizabethtown | | KY | | — | | Metalsa Structural Products, Inc. (Dana Holding Corporation and Dana Limited) | | 1995/2000/2001 | | | 539,592 | | | 1,419 | | | 1,419 | | | 2,960 | |
| | | 7/31/2025 | | 7005 Cochran Rd. | | Glenwillow | | OH | | — | | Royal Appliance Manufacturing Company | | 1997 | | | 458,000 | | | 972 | | | 1,126 | | | 0 | |
| 2026 | | 10/31/2026 | | 5001 Greenwood Rd. | | Shreveport | | LA | | — | | Libbey Glass, Inc. (Libbey, Inc.) | | 2006 | | | 646,000 | | | 982 | | | 1,083 | | | 0 | |
| N/A | | N/A | | 1109 Commerce Blvd. | | Swedesboro | | NJ | | — | | (Available for Lease) | | 1998 | | | 262,644 | | | 0 | | | 0 | | | 0 | |
| | | | | 1601 Pratt Ave. | | Marshall | | MI | | — | | (Available for Lease)(Amounts represent prior tenant) | | 1979 | | | 58,300 | | | 31 | | | 31 | | | 0 | |
Property Leases and Vacancies - Consolidated Portfolio - 6/30/2010
| Year of Lease Expiration | | Date of Lease Expiration | | Property Location | | City | | State | | Note | | Primary Tenant (Guarantor) | | Year Built/ Renovated/ Expanded | | Sq.Ft. Leased or Available (1) | | Cash Rent as of 06/30/2010 ($000) (2) | | GAAP Base Rent as of 06/30/2010 ($000) (3) | | Fixed Rent at Next Option ($000) (4) | |
| | | | | 1665 Hughes Way | | Long Beach | | CA | | (8) | | (Available for Lease) | | 1981 | | | 200,541 | | | 0 | | | 0 | | | 0 | |
| | | | | 191 Arrowhead Dr. | | Hebron | | OH | | — | | (Available for Lease)(Amounts represent prior tenant) | | 1999 | | | 250,410 | | | 95 | | | 95 | | | 0 | |
| | | | | 2203 Sherrill Dr. | | Statesville | | NC | | — | | (Available for Lease)(Amounts represent prior tenant) | | 1999/2002 | | | 168,600 | | | 87 | | | 109 | | | 0 | |
| | | | | 250 Rittenhouse Cir. | | Bristol | | PA | | — | | (Available for Lease) | | 1983/1997 | | | 255,019 | | | 0 | | | 0 | | | 0 | |
| | | | | 3350 Miac Cove Rd. | | Memphis | | TN | | — | | (Available for Lease) | | 1987 | | | 32,679 | | | 0 | | | 0 | | | 0 | |
| | | | | 34 East Main St. | | New Kingstown | | PA | | — | | (Available for Lease) | | 1981 | | | 179,200 | | | 0 | | | 0 | | | 0 | |
| | | | | 6 Doughten Rd. | | New Kingstown | | PA | | — | | (Available for Lease) | | 1989 | | | 330,000 | | | 0 | | | 0 | | | 0 | |
| INDUSTRIAL TOTAL/WEIGHTED AVERAGE | | | | 90.8% Leased | | | | | 18,917,023 | | $ | 30,764 | | $ | 31,429 | | | | |
Property Leases and Vacancies - Consolidated Portfolio - 6/30/2010
| Year of Lease Expiration | | Date of Lease Expiration | | Property Location | | City | | State | | Note | | Primary Tenant (Guarantor) | | Year Built/ Renovated/ Expanded | | Sq.Ft. Leased or Available (1) | | Cash Rent as of 06/30/2010 ($000) (2) | | GAAP Base Rent as of 06/30/2010 ($000) (3) | | Fixed Rent at Next Option ($000) (4) | |
| RETAIL PROPERTIES | | | | | | | | | | | | | | | | | | | |
| 2011 | | 5/31/2011 | | 4811 Wesley St. | | Greenville | | TX | | — | | Safeway Stores, Inc. | | 1985 | | | 48,492 | | | 85 | | | 121 | | | 171 | |
| | | 6/30/2011 | | 4733 Hills & Dales Rd. | | Canton | | OH | | — | | Bally's Total Fitness of the Midwest, Inc. (Bally's Health & Tennis Corporation) | | 1987 | | | 37,214 | | | 140 | | | 117 | | | 0 | |
| | | 12/29/2011 | | 13133 Steubner Ave. | | Houston | | TX | | — | | The Kroger Co. | | 1980 | | | 52,200 | | | 141 | | | 202 | | | 281 | |
| 2012 | | 4/30/2012 | | 10415 Grande Ave. | | Sun City | | AZ | | — | | Cafeteria Operators, LP (Furrs Restaurant Group, Inc.) | | 1982 | | | 10,000 | | | 83 | | | 132 | | | 0 | |
| | | | | 119 North Balboa Rd. | | El Paso | | TX | | — | | Cafeteria Operators, LP (Furrs Restaurant Group, Inc.) | | 1982 | | | 10,000 | | | 83 | | | 68 | | | 0 | |
| | | | | 402 East Crestwood Dr. | | Victoria | | TX | | — | | Cafeteria Operators, LP (Furrs Restaurant Group, Inc.) | | 1982 | | | 10,000 | | | 83 | | | 58 | | | 0 | |
| | | | | 4121 South Port Ave. | | Corpus Christi | | TX | | — | | Cafeteria Operators, LP (Furrs Restaurant Group, Inc.) | | 1980 | | | 10,000 | | | 83 | | | 68 | | | 0 | |
| | | | | 900 South Canal St. | | Carlsbad | | NM | | — | | Cafeteria Operators, LP (Furrs Restaurant Group, Inc.) | | 1980 | | | 10,000 | | | 83 | | | 52 | | | 0 | |
| | | | | 901 West Expwy. | | McAllen | | TX | | — | | Cafeteria Operators, LP (Furrs Restaurant Group, Inc.) | | 1980 | | | 10,000 | | | 83 | | | 82 | | | 0 | |
| | | 5/31/2012 | | 3451 Alta Mesa Blvd. | | Fort Worth | | TX | | — | | Minyard Food Stores, Inc. | | 1985 | | | 44,000 | | | 152 | | | 180 | | | 304 | |
| | | 6/30/2012 | | 1600 East 23rd St. | | Chattanooga | | TN | | — | | BI-LO, LLC | | 1983 | | | 42,130 | | | 65 | | | 65 | | | 138 | |
| | | 11/30/2012 | | 101 West Buckingham Rd. | | Garland | | TX | | — | | Minyard Food Stores, Inc. | | 1982 | | | 40,000 | | | 163 | | | 163 | | | 326 | |
| | | | | 120 South Waco St. | | Hillsboro | | TX | | — | | Brookshire Grocery Company | | 1985 | | | 35,000 | | | 80 | | | 93 | | | 161 | |
| | | | | 205 Homer Rd. | | Minden | | LA | | — | | Brookshire Grocery Company | | 1985 | | | 35,000 | | | 96 | | | 143 | | | 193 | |
| 2013 | | 2/28/2013 | | US 221 & Hospital Rd. | | Jefferson | | NC | | — | | Food Lion, Inc. (Delhaize America, Inc.) | | 1981 | | | 23,000 | | | 36 | | | 36 | | | 73 | |
| | | | | 291 Talbert Blvd. | | Lexington | | NC | | — | | Food Lion, Inc. (Delhaize America, Inc.) | | 1981 | | | 23,000 | | | 69 | | | 69 | | | 138 | |
| | | | | S. Carolina 52/52 Bypass | | Moncks Corner | | SC | | — | | Food Lion, Inc. (Delhaize America, Inc.) | | 1982 | | | 23,000 | | | 31 | | | 62 | | | 62 | |
| | | | | 3211 West Beverly St. | | Staunton | | VA | | — | | Food Lion, Inc. (Delhaize America, Inc.) | | 1971 | | | 23,000 | | | 82 | | | 83 | | | 166 | |
| | | | | 1146 Gum Branch Rd. | | Jacksonville | | NC | | — | | Food Lion, Inc. (Delhaize America, Inc.) | | 1982/1995 | | | 23,000 | | | 42 | | | 55 | | | 84 | |
| | | 7/1/2013 | | 1053 Mineral Springs Rd. | | Paris | | TN | | — | | The Kroger Co. | | 1982 | | | 31,170 | | | 80 | | | 107 | | | 159 | |
| | | 10/31/2013 | | 1084 East Second St. | | Franklin | | OH | | — | | Marsh Supermarkets, Inc. | | 1961/1978 | | | 29,119 | | | 56 | | | 79 | | | 111 | |
| | | | | 130 Midland Ave. | | Port Chester | | NY | | — | | Pathmark Stores, Inc. | | 1982 | | | 59,000 | | | 229 | | | 598 | | | 458 | |
| | | | | 5104 North Franklin Rd. | | Lawrence | | IN | | — | | Marsh Supermarkets, Inc. | | 1958 | | | 28,721 | | | 97 | | | 97 | | | 193 | |
| 2014 | | 3/31/2014 | | N.E.C. 45th St./Lee Blvd. | | Lawton | | OK | | — | | Associated Wholesale Grocers, Inc. | | 1984 | | | 30,757 | | | 93 | | | 103 | | | 185 | |
| 2015 | | 1/31/2015 | | 1700 State Route 160 | | Port Orchard | | WA | | — | | Moran Foods, Inc. d/b/a Save-A-Lot, Ltd. | | 1983 | | | 16,037 | | | 41 | | | 41 | | | 97 | |
| | | 5/31/2015 | | 24th St. West & St. John’s Ave. | | Billings | | MT | | — | | Safeway Stores, Inc. | | 1981 | | | 40,800 | | | 93 | | | 166 | | | 186 | |
| 2016 | | 5/31/2016 | | 18601 Alderwood Mall Blvd. | | Lynnwood | | WA | | — | | TRU 2005 RE I, LLC | | 1981/1993 | | | 43,105 | | | 141 | | | 149 | | | 279 | |
| | | | | 12535 Southeast 82nd Ave. | | Clackamas | | OR | | — | | TRU 2005 RE I, LLC | | 1981 | | | 42,842 | | | 153 | | | 162 | | | 298 | |
| | | | | 6910 South Memorial Hwy. | | Tulsa | | OK | | — | | Toys "R" Us-Delaware, Inc. | | 1981 | | | 43,123 | | | 129 | | | 136 | | | 255 | |
| 2017 | | 3/31/2017 | | 1610 South Westmoreland Ave. | | Dallas | | TX | | — | | Malone’s Food Stores, Ltd. | | 1960 | | | 68,024 | | | 179 | | | 239 | | | 376 | |
| 2018 | | 2/26/2018 | | 4831 Whipple Ave., Northwest | | Canton | | OH | | — | | Best Buy Company, Inc. | | 1995 | | | 46,350 | | | 233 | | | 233 | | | 465 | |
| | | | | 399 Peachwood Centre Dr. | | Spartanburg | | SC | | — | | Best Buy Company, Inc. | | 1996 | | | 45,800 | | | 198 | | | 198 | | | 395 | |
| | | 9/30/2018 | | 835 Julian Ave. | | Thomasville | | NC | | — | | Mighty Dollar, LLC | | 1983 | | | 23,767 | | | 35 | | | 35 | | | 0 | |
| | | 10/31/2018 | | 10340 U.S. 19 | | Port Richey | | FL | | — | | Kingswere Furniture, LLC | | 1980 | | | 53,280 | | | 173 | | | 173 | | | 400 | |
| | | 12/31/2018 | | 1150 West Carl Sandburg Dr. | | Galesburg | | IL | | — | | Kmart Corporation | | 1992 | | | 94,970 | | | 28 | | | 164 | | | 0 | |
| | | | | 12080 Carmel Mountain Rd. | | San Diego | | CA | | — | | Sears Holdings Corporation | | 1993 | | | 107,210 | | | 32 | | | 376 | | | 0 | |
| | | | | 21082 Pioneer Plaza Dr. | | Watertown | | NY | | — | | Kmart Corporation | | 1993 | | | 120,727 | | | 47 | | | 241 | | | 0 | |
| | | | | 255 Northgate Dr. | | Manteca | | CA | | — | | Kmart Corporation | | 1993 | | | 107,489 | | | 50 | | | 278 | | | 0 | |
| | | | | 5350 Leavitt Rd. | | Lorain | | OH | | — | | Kmart Corporation | | 1993 | | | 193,193 | | | 70 | | | 366 | | | 0 | |
| | | | | 97 Seneca Trail | | Fairlea | | WV | | — | | Kmart Corporation | | 1993/1999 | | | 90,933 | | | 33 | | | 173 | | | 0 | |
| 2021 | | 1/31/2021 | | 3040 Josey Ln. | | Carrollton | | TX | | — | | Ong’s Family, Inc. | | 1984 | | | 61,000 | | | 136 | | | 203 | | | 0 | |
Property Leases and Vacancies - Consolidated Portfolio - 6/30/2010
| Year of Lease Expiration | | Date of Lease Expiration | | Property Location | | City | | State | | Note | | Primary Tenant (Guarantor) | | Year Built/ Renovated/ Expanded | | Sq.Ft. Leased or Available (1) | | Cash Rent as of 06/30/2010 ($000) (2) | | GAAP Base Rent as of 06/30/2010 ($000) (3) | | Fixed Rent at Next Option ($000) (4) | |
| 2028 | | 1/31/2028 | | 2010 Apalachee Pkwy. | | Tallahassee | | FL | | — | | Kohl's Department Stores, Inc. | | 2007 | | | 102,381 | | | 200 | | | 210 | | | 484 | |
| | | 8/31/2028 | | 9803 Edmonds Way | | Edmonds | | WA | | — | | Pudget Consumers Co-op d/b/a PCC Natural Markets | | 1981 | | | 34,459 | | | 301 | | | 301 | | | 0 | |
| N/A | | N/A | | 1700 State Route 160 | | Port Orchard | | WA | | — | | (Available for Lease) | | 1983 | | | 11,931 | | | 0 | | | 0 | | | 0 | |
| | | | | 5544 Atlanta Hwy. | | Montgomery | | AL | | — | | (Available for Lease) | | 1980/2007 | | | 60,698 | | | 0 | | | 0 | | | 0 | |
| | | | | 811 US Hwy. 17 | | North Myrtle Beach | | SC | | — | | (Available for Lease) | | 1981 | | | 41,021 | | | 0 | | | 0 | | | 0 | |
| | | RETAIL TOTAL/WEIGHTED AVERAGE | | | | | | | | 94.7% Leased | | | | | 2,136,943 | | $ | 4,507 | | $ | 6,677 | | | | |
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 6/30/2010
| Year of Lease Expiration | | Date of Lease Expiration | | Property Location | | City | | State | | Note | | Primary Tenant (Guarantor) | | Year Built/ Renovated/ Expanded | | | Gross Book Value ($000) (14) | | | Sq.Ft. | | | Percentage Leased | | | Cash Rent as of 06/30/2010 ($000) (2) | | | GAAP Base Rent as of 06/30/2010 ($000) (3) | | | Debt Balance ($000) | |
| MULTI-TENANT PROPERTIES | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Various | | Various | | 10 John St. | | Clinton | | CT | | (9) | | Multi-Tenant | | 1972 | | | | 3,195 | | | | 41,188 | | | | 0 | % | | | 0 | | | | 0 | | | | 0 | |
| | | | | 100 East Shore Dr. | | Glen Allen | | VA | | — | | Multi-Tenant | | 1999 | | | | 11,486 | | | | 68,003 | | | | 100 | % | | | 674 | | | | 667 | | | | 19,557 | |
| | | | | 30/100 Light St. | | Baltimore | | MD | | — | | Multi-Tenant | | 1973/2009 | | | | 214,607 | | | | 534,918 | | | | 47 | % | | | 2,081 | | | | 2,081 | | | | 0 | |
| | | | | 130 East Shore Dr. | | Glen Allen | | VA | | (17) | | Multi-Tenant | | 2000 | | | | 13,457 | | | | 79,675 | | | | 65 | % | | | 302 | | | | 380 | | | | 0 | |
| | | | | 13430 North Black Canyon Fwy. | | Phoenix | | AZ | | (15) | | Multi-Tenant | | 1981/1982/2005/2007/2009 | | | | 25,436 | | | | 138,940 | | | | 100 | % | | | 1,028 | | | | 1,029 | | | | 0 | |
| | | | | 1500 Hughes Way | | Long Beach | | CA | | (8)(16) | | Multi-Tenant | | 1981 | | | | 118,081 | | | | 490,555 | | | | 67 | % | | | 3,436 | | | | 3,588 | | | | 15,001 | |
| | | | | 160 Clairemont Ave. | | Decatur | | GA | | — | | Multi-Tenant | | 1983 | | | | 19,799 | | | | 121,596 | | | | 78 | % | | | 732 | | | | 732 | | | | 0 | |
| | | | | 17770 Cartwright Rd. | | Irvine | | CA | | (10)(18) | | Multi-Tenant | | 1982 | | | | 19,640 | | | | 165,080 | | | | 74 | % | | | 995 | | | | 1,229 | | | | 0 | |
| | | | | 2300 Litton Ln. | | Hebron | | KY | | (15) | | Multi-Tenant | | 1986/1996 | | | | 9,740 | | | | 80,441 | | | | 100 | % | | | 234 | | | | 228 | | | | 0 | |
| | | | | 255 California St. | | San Francisco | | CA | | (18) | | Multi-Tenant | | 1959 | | | | 39,138 | | | | 173,747 | | | | 64 | % | | | 1,180 | | | | 1,358 | | | | 0 | |
| | | | | 3468 Georgia Hwy. 120 | | Duluth | | GA | | (15) | | Multi-Tenant | | 1971 | | | | 423 | | | | 10,341 | | | | 0 | % | | | 0 | | | | 0 | | | | 0 | |
| | | | | 350 Pine St. | | Beaumont | | TX | | (15) | | Multi-Tenant | | 1981 | | | | 28,808 | | | | 425,198 | | | | 82 | % | | | 2,037 | | | �� | 2,129 | | | | 0 | |
| | | | | 6050 Dana Way | | Antioch | | TN | | — | | Multi-Tenant | | 1999 | | | | 26,200 | | | | 674,528 | | | | 52 | % | | | 559 | | | | 559 | | | | 13,047 | |
| | | | | 6277 Sea Harbor Dr. | | Orlando | | FL | | — | | Multi-Tenant | | 1984 | | | | 51,727 | | | | 360,307 | | | | 0 | % | | | 81 | | | | 81 | | | | 0 | |
| | | | | 6301 Gaston Ave. | | Dallas | | TX | | (18) | | Multi-Tenant | | 1970/1981 | | | | 7,900 | | | | 173,855 | | | | 64 | % | | | 750 | | | | 750 | | | | 0 | |
| | | | | King St./1032 Fort St. Mall | | Honolulu | | HI | | (15) | | Multi-Tenant | | 1979/2002 | | | | 47,109 | | | | 318,451 | | | | 96 | % | | | 1,295 | | | | 1,341 | | | | 0 | |
| MULTI-TENANT TOTAL/WEIGHTED AVERAGE | | | | | | 61.4% Leased | | | | | | | 3,856,823 | | | | | | | $ | 15,384 | | | $ | 16,152 | | | $ | 47,605 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | TOTAL CONSOLIDATED PORTFOLIO/WEIGHTED AVERAGE | | 91.0% Leased | | | | | | | | 37,974,824 | | | | | | | $ | 158,785 | | | $ | 157,807 | | | | | |
Footnotes
| (1) | Square foot leased or vacant. |
| (2) | Six months ended 06/30/10 cash rent. |
| (3) | Six months ended 06/30/10 GAAP base rent. |
| (4) | Rent at option rate listed for those lease contracts where a set rent in dollars is specified, as it relates to Fixed Rent at Next Option. |
| (5) | Option rent lesser of the noted rent or a function of fair market value such as 100%, 95%, or 90%. |
| (6) | Option rent greater of the noted rent or a function of fair market value such as 100%, 95%, or 90%. |
| (7) | Lexington has an 80.5% interest in this property. |
| (8) | Lexington has a 55.0% interest in this property. |
| (9) | Lexington has a 71.1% interest in this property. |
| (10) | Lexington has a 64.4% interest in this property. |
| (11) | Lexington has a 57.8% interest in this property. |
| (12) | Current lease ends 05/2013, however, new tenant (Problem Solved, LLC) lease expires 05/2014. |
| (13) | Property is classified as a capital lease for GAAP. |
| (14) | Represents GAAP capitalized costs. |
| (15) | Property is collateral for secured credit facility. |
| (16) | Contract right payable. |
| (17) | Mortgage shown under 100 East Shore Dr., Glen Allen VA. |
| (18) | Property sold subsequent to June 30, 2010. |
| (19) | Subsequent to 6/30/2010, tenant exercised lease termination option effective 12/31/2011 and paid $6.8 million. |
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Net Lease Strategic Assets Fund Portfolio - 6/30/2010
Year of Lease Expiration | | Date of Lease Expiration | | Property Location | | City | | State | | Note | | Primary Tenant (Guarantor) | | Year Built/ Renovated/ Expanded | | | Sq.Ft. Leased or Available (1) | | | Cash Rent as of 06/30/2010 ($000) (2) | | | GAAP Base Rent as of 06/30/2010 ($000) (3) | | | Fixed Rent at Next Option ($000) (4) | |
NET LEASE STRATEGIC ASSETS FUND PROPERTIES | | | | | | | | | | | | | | | | | | |
| 2011 | | 5/31/2011 | | 1200 Jupiter Rd. | | Garland | | TX | | — | | Raytheon Company | | 1980 | | | | 278,759 | | | | 753 | | | | 1,027 | | | | 1,506 | |
| | | 6/30/2011 | | 265 Lehigh St. | | Allentown | | PA | | — | | Wells Fargo Bank, N.A. | | 1980 | | | | 71,230 | | | | 224 | | | | 300 | | | | 0 | |
| | | 7/15/2011 | | 19019 North 59th Ave. | | Glendale | | AZ | | — | | Honeywell International, Inc. | | 1986/1997/2000 | | | | 252,300 | | | | 1,226 | | | | 1,554 | | | | 0 | |
| 2012 | | 4/30/2012 | | 3600 Army Post Rd. | | Des Moines | | IA | | (6) | | HP Enterprise Services, LLC | | 2002 | | | | 405,000 | | | | 1,484 | | | | 1,484 | | | | 0 | |
| | | 5/31/2012 | | 101 Creger Dr. | | Ft. Collins | | CO | | — | | Lithia Real Estate, Inc. (Lithia Motors, Inc.) | | 1982 | | | | 10,000 | | | | 137 | | | | 118 | | | | 0 | |
| 2013 | | 5/31/2013 | | 2401 Cherahala Blvd. | | Knoxville | | TN | | — | | AdvancePCS, Inc. | | 2002 | | | | 59,748 | | | | 450 | | | | 450 | | | | 0 | |
| | | 6/30/2013 | | 420 Riverport Rd. | | Kingsport | | TN | | — | | Kingsport Power Company | | 1981 | | | | 42,770 | | | | 155 | | | | 153 | | | | 310 | |
| | | | | 8555 South River Pkwy. | | Tempe | | AZ | | (6) | | ASM Lithography, Inc. (ASM Lithography Holding, NV) | | 1998 | | | | 95,133 | | | | 1,178 | | | | 1,106 | | | | 0 | |
| | | 10/14/2013 | | 3943 Denny Ave. | | Pascagoula | | MS | | — | | Northrop Grumman Systems Corporation | | 1995 | | | | 94,841 | | | | 319 | | | | 319 | | | | 0 | |
| | | 12/31/2013 | | 120 Southeast Pkwy. Dr. | | Franklin | | TN | | — | | Essex Group, Inc. (United Technologies Corporation) | | 1970/1983 | | | | 289,330 | | | | 367 | | | | 327 | | | | 735 | |
| 2014 | | 1/31/2014 | | 1401 & 1501 Nolan Ryan Pkwy. | | Arlington | | TX | | — | | Siemens Shared Services, LLC | | 2003 | | | | 236,547 | | | | 1,362 | | | | 1,340 | | | | 0 | |
| | | 4/30/2014 | | 12000 & 12025 Tech Center Dr. | | Livonia | | MI | | (6) | | Kelsey-Hayes Company (TRW Automotive, Inc.) | | 1987/1988/1990 | | | | 180,230 | | | | 1,010 | | | | 1,037 | | | | 0 | |
| | | 7/1/2014 | | 70 Mechanic St. | | Foxboro | | MA | | — | | Invensys Systems, Inc. (Siebe, Inc.) | | 1965/1967/1971 | | | | 251,914 | | | | 3,131 | | | | 2,925 | | | | 2,562 | |
| | | 12/31/2014 | | 324 Industrial Park Rd. | | Franklin | | NC | | (5) | | SKF USA, Inc. | | 1996 | | | | 72,868 | | | | 212 | | | | 212 | | | | 0 | |
| 2015 | | 6/30/2015 | | 2935 Van Vactor Dr. | | Plymouth | | IN | | — | | Bay Valley Foods, LLC | | 2000/2003 | | | | 300,500 | | | | 396 | | | | 405 | | | | 853 | |
| | | | | 3711 San Gabriel | | Mission | | TX | | — | | VoiceStream PCS II Corporation (T-Mobile USA, Inc.) | | 2003 | | | | 75,016 | | | | 525 | | | | 510 | | | | 0 | |
| | | | | 2500 Patrick Henry Pkwy. | | McDonough | | GA | | — | | Georgia Power Company | | 1999 | | | | 111,911 | | | | 748 | | | | 768 | | | | 0 | |
| | | | | 1700 47th Ave North | | Minneapolis | | MN | | (5) | | Owens Corning Roofing and Asphalt, LLC | | 2003 | | | | 18,620 | | | | 300 | | | | 300 | | | | 0 | |
| | | 9/27/2015 | | 9110 Grogans Mill Rd. | | The Woodlands | | TX | | — | | Baker Hughes, Inc. | | 1992 | | | | 275,750 | | | | 1,738 | | | | 1,566 | | | | 2,756 | |
| | | | | 2529 West Thorne Dr. | | Houston | | TX | | — | | Baker Hughes, Inc. | | 1982/1999 | | | | 65,500 | | | | 480 | | | | 419 | | | | 746 | |
| | | 10/31/2015 | | 5201 West Barraque St. | | Pine Bluff | | AR | | — | | Entergy Services, Inc. | | 1964/1973 | | | | 27,189 | | | | 96 | | | | 96 | | | | 192 | |
| 2016 | | 1/31/2016 | | 1600 Eberhardt Rd. | | Temple | | TX | | — | | Nextel of Texas (Nextel Finance Company) | | 2001 | | | | 108,800 | | | | 761 | | | | 808 | | | | 0 | |
| | | 7/14/2016 | | 1400 Northeast McWilliams Rd. | | Bremerton | | WA | | — | | Nextel West Corporation | | 2002 | | | | 60,200 | | | | 542 | | | | 581 | | | | 0 | |
| | | 11/30/2016 | | 736 Addison Rd. | | Erwin | | NY | | (6) | | Corning, Inc. | | 2006 | | | | 408,000 | | | | 589 | | | | 589 | | | | 0 | |
| 2017 | | 12/31/2017 | | 11411 North Kelly Ave. | | Oklahoma City | | OK | | — | | American Golf Corporation | | 1991/1996 | | | | 13,924 | | | | 238 | | | | 239 | | | | 0 | |
| 2018 | | 3/15/2018 | | 601 & 701 Experian Pkwy. | | Allen | | TX | | — | | Experian Information Solutions, Inc. (Experian Holdings, Inc.) | | 1981/1983 | | | | 292,700 | | | | 1,533 | | | | 1,859 | | | | 0 | |
| | | 8/31/2018 | | 3500 North Loop Rd. | | McDonough | | GA | | — | | Litton Loan Servicing, LP | | 2007 | | | | 62,218 | | | | 573 | | | | 573 | | | | 0 | |
| | | 9/30/2018 | | 904 Industrial Rd. | | Marshall | | MI | | — | | Tenneco Automotive Operating Company, Inc. (Tenneco, Inc.) | | 1968/1972/2008 | | | | 246,508 | | | | 382 | | | | 401 | | | | 925 | |
| 2019 | | 1/31/2019 | | 2999 Southwest 6th St. | | Redmond | | OR | | — | | VoiceStream PCS I, LLC (T-Mobile USA, Inc.) | | 2004 | | | | 77,484 | | | | 762 | | | | 786 | | | | 0 | |
| | | 6/28/2019 | | 3265 East Goldstone Dr. | | Meridian | | ID | | (6) | | VoiceStream PCS Holding, LLC (T-Mobile USA, Inc.) | | 2004 | | | | 77,484 | | | | 632 | | | | 682 | | | | 0 | |
| | | 10/31/2019 | | 17191 St. Luke's Way | | The Woodlands | | TX | | — | | Montgomery County Management Company, LLC | | 2004 | | | | 41,000 | | | | 399 | | | | 493 | | | | 0 | |
| | | | | 9601 Renner Blvd. | | Lenexa | | KS | | (6) | | VoiceStream PCS II Corporation (T-Mobile USA, Inc.) | | 2004 | | | | 77,484 | | | | 647 | | | | 696 | | | | 0 | |
| 2020 | | 5/31/2020 | | 359 Gateway Dr. | | Lavonia | | GA | | — | | TI Group Automotive Systems, LLC (TI Automotive, Ltd.) | | 2005 | | | | 133,221 | | | | 600 | | | | 600 | | | | 0 | |
| | | 6/30/2020 | | 10419 North 30th St. | | Tampa | | FL | | — | | Time Customer Service, Inc. | | 1986 | | | | 132,981 | | | | 646 | | | | 678 | | | | 0 | |
| | | 8/31/2020 | | First Park Dr. | | Oakland | | ME | | (6 | | Omnipoint Holdings, Inc. (T-Mobile USA, Inc.) | | 2005 | | | | 78,610 | | | | 641 | | | | 575 | | | | 0 | |
| | | 11/30/2020 | | 11555 University Blvd. | | Sugar Land | | TX | | — | | KS Management Services, LLP (St. Luke’s Episcopal Health System Corporation) | | 2005 | | | | 72,683 | | | | 557 | | | | 626 | | | | 0 | |
| 2021 | | 10/25/2021 | | 6938 Elm Valley Dr. | | Kalamazoo | | MI | | — | | Dana Commercial Vehicle Products, LLC (Dana Holding Corporation and Dana Limited) | | 1999/2004 | | | | 150,945 | | | | 921 | | | | 966 | | | | 0 | |
| 2022 | | 7/31/2022 | | 1440 East 15th St. | | Tucson | | AZ | | — | | CoxCom, Inc. | | 1988 | | | | 28,591 | | | | 262 | | | | 275 | | | | 0 | |
| 2025 | | 7/14/2025 | | 590 Ecology Ln. | | Chester | | SC | | — | | Owens Corning, Inc. | | 2001/2005 | | | | 420,597 | | | | 1,093 | | | | 1,084 | | | | 1,678 | |
| 2026 | | 8/31/2026 | | 25500 State Hwy. 249 | | Tomball | | TX | | — | | Parkway Chevrolet, Inc. (Raymond Durdin and Jean W. Durdin) | | 2005 | | | | 77,076 | | | | 650 | | | | 753 | | | | 0 | |
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Net Lease Strategic Assets Fund Portfolio - 6/30/2010
Year of Lease Expiration | | Date of Lease Expiration | | | Property Location | | City | | State | | Note | | Primary Tenant (Guarantor) | | Year Built/ Renovated/ Expanded | | | Sq.Ft. Leased or Available (1) | | | Cash Rent as of 06/30/2010 ($000) (2) | | | GAAP Base Rent as of 06/30/2010 ($000) (3) | | | Fixed Rent at Next Option ($000) (4) | |
| 2027 | | 4/30/2027 | | | 2424 Alpine Rd. | | Eau Claire | | WI | | (6) | | Silver Spring Gardens, Inc. (Huntsinger Farms, Inc.) | | 1993/2004 | | | | 159,000 | | | | 466 | | | | 586 | | | | 0 | |
| N/A | | N/A | | | 109 Stevens St. | | Jacksonville | | FL | | — | | (Available for Lease)(Amounts represent prior tenant) | | 1959/1967 | | | | 168,800 | | | | 74 | | | | 74 | | | | 0 | |
| | | NET LEASE STRATEGIC ASSETS FUND TOTAL/WEIGHTED AVERAGE | | 97.2% Leased | | | | | | 6,103,462 | | | $ | 29,259 | | | $ | 30,340 | | | | | |
Footnotes
| (1) | Square foot leased or vacant. |
| (2) | Six months ended 06/30/10 cash rent. |
| (3) | Six months ended 06/30/10 GAAP base rent. |
| (4) | Rent at option rate listed for those lease contracts where a set rent in dollars is specified, as it relates to Fixed Rent at Next Option. |
| (5) | Option rent lesser of the noted rent or a function of fair market value such as 100%, 95%, or 90%. |
| (6) | Option rent greater of the noted rent or a function of fair market value such as 100%, 95%, or 90%. |
LEXINGTON REALTY TRUST
Lease Rollover Schedule by Property Type - Cash Basis
6/30/2010
| | | Office | | | Industrial | | | Retail | |
Year | | Net Rentable Area | | | Cash Rent as of 6/30/2010 ($000) | | | Annual Rent PSF | | | Net Rentable Area | | | Cash Rent as of 6/30/2010 ($000) | | | Annual Rent PSF | | | Net Rentable Area | | | Cash Rent as of 6/30/2010 ($000) | | | Annual Rent PSF | |
| 2010 | | | 5,315 | | | $ | 120 | | | $ | 45.16 | | | | - | | | $ | - | | | $ | - | | | | - | | | $ | - | | | $ | - | |
| 2011 | | | 516,252 | | | $ | 4,925 | | | $ | 19.08 | | | | 1,652,057 | | | $ | 2,679 | | | $ | 3.24 | | | | 137,906 | | | $ | 366 | | | $ | 5.31 | |
| 2012 | | | 1,591,463 | | | $ | 11,673 | | | $ | 14.67 | | | | 2,450,703 | | | $ | 4,229 | | | $ | 3.45 | | | | 256,130 | | | $ | 1,054 | | | $ | 8.23 | |
| 2013 | | | 1,653,890 | | | $ | 12,045 | | | $ | 14.57 | | | | 471,000 | | | $ | 681 | | | $ | 2.89 | | | | 263,010 | | | $ | 722 | | | $ | 5.49 | |
| 2014 | | | 2,084,748 | | | $ | 18,095 | | | $ | 17.36 | | | | 934,292 | | | $ | 1,202 | | | $ | 2.57 | | | | 30,757 | | | $ | 93 | | | $ | 6.05 | |
| 2015 | | | 1,853,842 | | | $ | 18,436 | | | $ | 15.54 | | | | 150,000 | | | $ | 238 | | | $ | 3.17 | | | | 56,837 | | | $ | 134 | | | $ | 4.72 | |
| 2016 | | | 572,735 | | | $ | 4,245 | | | $ | 14.82 | | | | 1,297,762 | | | $ | 2,880 | | | $ | 4.44 | | | | 129,070 | | | $ | 423 | | | $ | 6.55 | |
| 2017 | | | 377,877 | | | $ | 2,652 | | | $ | 14.04 | | | | 1,652,811 | | | $ | 3,232 | | | $ | 3.91 | | | | 68,024 | | | $ | 179 | | | $ | 5.26 | |
| 2018 | | | 680,732 | | | $ | 5,389 | | | $ | 15.83 | | | | 994,283 | | | $ | 1,153 | | | $ | 2.32 | | | | 883,719 | | | $ | 899 | | | $ | 2.03 | |
| 2019 | | | 1,326,625 | | | $ | 8,515 | | | $ | 12.84 | | | | 1,621,875 | | | $ | 2,027 | | | $ | 2.50 | | | | - | | | $ | - | | | $ | - | |
| 2020 | | | 379,865 | | | $ | 2,829 | | | $ | 14.89 | | | | 1,115,994 | | | $ | 2,993 | | | $ | 5.36 | | | | - | | | $ | - | | | $ | - | |
| 2021 | | | 623,174 | | | $ | 6,736 | | | $ | 21.62 | | | | 2,054,639 | | | $ | 3,475 | | | $ | 3.38 | | | | 61,000 | | | $ | 136 | | | $ | 4.46 | |
| 2022 | | | 52,337 | | | $ | 766 | | | $ | 29.27 | | | | - | | | $ | - | | | $ | - | | | | - | | | $ | - | | | $ | - | |
| 2023 | | | 425,254 | | | $ | 3,106 | | | $ | 14.61 | | | | - | | | $ | - | | | $ | - | | | | - | | | $ | - | | | $ | - | |
| 2024 | | | - | | | $ | - | | | $ | - | | | | - | | | $ | - | | | $ | - | | | | - | | | $ | - | | | $ | - | |
| 2025 | | | 145,200 | | | $ | 1,147 | | | $ | 15.80 | | | | 2,138,214 | | | $ | 4,780 | | | $ | 4.47 | | | | - | | | $ | - | | | $ | - | |
| 2026 | | | - | | | $ | - | | | $ | - | | | | 646,000 | | | $ | 982 | | | $ | 3.04 | | | | - | | | $ | - | | | $ | - | |
| 2027 | | | - | | | $ | - | | | $ | - | | | | - | | | $ | - | | | $ | - | | | | - | | | $ | - | | | $ | - | |
| 2028 | | | 295,000 | | | $ | 1,830 | | | $ | 12.41 | | | | - | | | $ | - | | | $ | - | | | | 136,840 | | | $ | 501 | | | $ | 7.32 | |
| 2029 | | | 410,041 | | | $ | 4,459 | | | $ | 21.75 | | | | - | | | $ | - | | | $ | - | | | | - | | | $ | - | | | $ | - | |
Total/Weighted Average (1) | | | 12,994,350 | | | $ | 106,968 | | | $ | 15.84 | | | | 17,179,630 | | | $ | 30,551 | | | $ | 3.56 | | | | 2,023,293 | | | $ | 4,507 | | | $ | 4.46 | |
Footnotes
| (1) | Total shown may differ from detailed amounts due to rounding and does not include multi-tenant properties and parking operations. |
LEXINGTON REALTY TRUST
Lease Rollover Schedule - GAAP Basis
6/30/2010
| Year | | Number of Leases Expiring | | | GAAP Base Rent as of 6/30/2010 ($000) | | | Percent of GAAP Base Rent as of 6/30/2010 | |
| 2010 | | 1 | | | $ | 120 | | | | 0.1 | % |
| 2011 | | 12 | | | $ | 7,958 | | | | 5.7 | % |
| 2012 | | 29 | | | $ | 16,482 | | | | 11.8 | % |
| 2013 | | 21 | | | $ | 14,322 | | | | 10.2 | % |
| 2014 | | 27 | | | $ | 19,859 | | | | 14.2 | % |
| 2015 | | 14 | | | $ | 15,034 | | | | 10.7 | % |
| 2016 | | 12 | | | $ | 7,451 | | | | 5.3 | % |
| 2017 | | 8 | | | $ | 6,428 | | | | 4.6 | % |
| 2018 | | 18 | | | $ | 8,903 | | | | 6.3 | % |
| 2019 | | 8 | | | $ | 10,975 | | | | 7.8 | % |
| 2020 | | 7 | | | $ | 6,520 | | | | 4.6 | % |
| 2021 | | 9 | | | $ | 10,340 | | | | 7.4 | % |
| 2022 | | 1 | | | $ | 831 | | | | 0.6 | % |
| 2023 | | 2 | | | $ | 3,427 | | | | 2.4 | % |
| 2024 | | - | | | $ | - | | | | - | |
| 2025 | | 8 | | | $ | 6,081 | | | | 4.3 | % |
| 2026 | | 1 | | | $ | 1,083 | | | | 0.8 | % |
| 2027 | | - | | | $ | - | | | | - | |
| 2028 | | 3 | | | $ | 2,341 | | | | 1.7 | % |
| 2029 | | 2 | | | $ | 2,106 | | | | 1.5 | % |
Total (1) | | 183 | | | $ | 140,261 | | | | 100.0 | % |
Footnotes
| (1) | Total shown may differ from detailed amounts due to rounding and does not include multi-tenant properties and parking operations. |
LEXINGTON REALTY TRUST
Mortgage Notes Receivable
6/30/2010
| | | | | | | | | | | | | | | | Current | | | | | | | |
| | | | | | | | | | | | Estimated | | | | | | | |
Collateral | | | | | | | | | | | Annual | | | | | | | |
| | | | | | | Note Balance | | | Interest | | | Maturity | | | Debt Service | | | Balloon Payment | | | Escrow Balance | |
| | | City | | State | | ($000)(1) | | | Rate | | | Date | | | ($000) | | | ($000) | | | ($000) | |
Medical Facilities | | Various (2) | | MO/TX | | $ | 17,106 | | | | 15.00 | % | | | 12/2011 | | | $ | 2,526 | | | $ | 17,000 | | | $ | - | |
| Office | | Schaumburg (3) | | IL | | $ | 13,191 | | | | 15.00 | % | | | 01/2012 | | | $ | - | | | $ | 13,191 | | | $ | - | |
| | | Westmont (4) | | IL | | $ | 27,678 | | | | 6.45 | % | | | 10/2015 | | | $ | 2,090 | | | $ | 25,731 | | | $ | 4,707 | |
| | | Southfield | | MI | | $ | 9,022 | | | | 4.55 | % | | | 02/2015 | | | $ | 1,282 | | | $ | 5,810 | | | $ | - | |
| | | Wilsonville | | OR | | $ | 6,922 | | | | 5.46 | % | | | 08/2015 | | | $ | 750 | | | $ | 9,684 | | | $ | 1,624 | |
| Retail | | Austin | | TX | | $ | 1,369 | | | | 16.00 | % | | | 10/2018 | | | $ | - | | | $ | 5,104 | | | $ | - | |
| | | Tampa | | FL | | $ | 198 | | | | 8.00 | % | | | 12/2020 | | | $ | 29 | | | $ | - | | | $ | - | |
| | | Various | | Various | | $ | 6,979 | | | | 8.00 | % | | | 01/2014 | | | $ | 2,288 | | | $ | - | | | $ | - | |
| | | Various | | Various | | $ | 1,459 | | | | 8.00 | % | | | 02/2021 | | | $ | 119 | | | $ | - | | | $ | - | |
| | | Various | | Various | | $ | 878 | | | | 8.00 | % | | | 03/2022 | | | $ | 74 | | | $ | - | | | $ | - | |
| | | Various | | Various | | $ | 801 | | | | 8.00 | % | | | 12/2021 | | | $ | 79 | | | $ | - | | | $ | - | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total Mortgage Notes Receivables | | $ | 85,603 | | | | | | | | | | | $ | 9,237 | | | $ | 76,520 | | | $ | 6,331 | |
Footnotes
| (1) | Excludes net origination fees of $506. |
| (2) | Loan is interest only at a rate of 14.0% through February 2011, and 16.0% thereafter. |
| (3) | Interest only payments to the extent of operating cash flow of underlying assets. |
| (4) | Escrow balance includes $4,430 in a collateral escrow account maintained by the borrower. |
2010 Second Quarter Financing Summary
| | DEBT RETIRED | | | | | | | | | | | | |
| | | | Face ($000) | | | Satisfaction ($000) | | | Rate | | | Due/Put Date | |
| 1 | Term Loan | | $ | 10,000 | | | $ | 10,000 | | | | 3.20 | % | | | 02/2011 | |
| 2 | Term Loan | | $ | 172 | | | $ | 172 | | | | 5.52 | % | | | 03/2013 | |
| | TOTAL | | $ | 10,172 | | | $ | 10,172 | | | | | | | | | |
| | NEW PROPERY LEVEL FINANCING (2) | | | | | | | | | |
| | | | Face ($000) | | | Rate | | | Maturity | |
| 1 | Greenville, SC (1) | | $ | 9,000 | | | | 5.50 | % | | | 01/2015 | |
Footnotes
| (1) | Loan is interest only through maturity. |
| (2) | Excludes leasehold financing, see page 13. |
LEXINGTON REALTY TRUST
Debt Maturity Schedule
6/30/2010
($000)
Consolidated Properties |
Year | | | Real Estate Scheduled Amortization | | | Real Estate Balloon Payments | | | | Corporate Debt | |
| 2010 - remainder | | $ | 12,899 | | $ | 71,458 | (1) | | $ | - | |
| 2011 | | | 31,918 | | | 49,924 | | | | 80,000 | |
| 2012 | | | 32,218 | | | 191,034 | | | | 62,150 | (2) |
| 2013 | | | 28,478 | | | 234,937 | | | | 60,551 | |
| 2014 | | | 28,303 | | | 235,879 | | | | - | |
| | | $ | 133,816 | | $ | 783,232 | | | $ | 202,701 | |
Non-Consolidated Investments - LXP Proportionate Share |
Year | | | Real Estate Scheduled Amortization | | | Real Estate Balloon Payments | |
| 2010 - remainder | | $ | 984 | | $ | 1,140 | |
| 2011 | | | 2,686 | | | 6,903 | |
| 2012 | | | 2,756 | | | 3,323 | |
| 2013 | | | 2,895 | | | 2,496 | |
| 2014 | | | 2,514 | | | 4,061 | |
| | | $ | 11,835 | | $ | 17,923 | |
Footnotes
(1) $29,703 of this balance satisfied on July 1, 2010.
(2) Assumes debt is put to Lexington in 2012.
2010 Mortgage Maturities by Property Type
6/30/2010
| | Property Location | | City | | State | | Net Rentable Area | | | Mortgage Balance at Maturity ($000) | | | Maturity Date | | | Tenant Lease Expires | | | Gross Book Value ($000) (1) | | | Cash Rent as of 6/30/2010 ($000) | | | GAAP Base Rent as of 6/30/2010 ($000) | |
| Office | 550 Business Center Dr. (2) | | Lake Mary | | FL | | | 125,920 | | | $ | 12,082 | | | | 10/2010 | | | | 09/2015 | | | $ | 23,958 | | | $ | 894 | | | $ | 1,048 | |
| | 600 Business Center Dr. (2) | | Lake Mary | | FL | | | 125,155 | | | $ | 12,118 | | | | 10/2010 | | | | 09/2015 | | | $ | 23,846 | | | $ | 857 | | | $ | 1,025 | |
| | 6555 Sierra Dr. | | Irving | | TX | | | 247,254 | | | $ | 24,454 | | | | 10/2010 | | | | 03/2023 | | | $ | 41,899 | | | $ | 1,325 | | | $ | 1,476 | |
| | 13651 McLearen Rd. | | Herndon | | VA | | | 159,664 | | | $ | 17,301 | | | | 12/2010 | | | | 05/2018 | | | $ | 27,780 | | | $ | 1,529 | | | $ | 1,693 | |
Industrial | 3102 Queen Palm Dr. (2) | | Tampa | | FL | | | 229,605 | | | $ | 5,503 | | | | 08/2010 | | | | 06/2020 | | | $ | 8,662 | | | $ | 572 | | | $ | 638 | |
| Retail | 1150 West Carl Sandburg Dr. (2) | | Galesburg | | IL | | | 94,970 | | | $ | - | | | | 07/2010 | | | | 12/2018 | | | $ | 2,884 | | | $ | 28 | | | $ | 164 | |
| | 12080 Carmel Mountain Rd. (2) | | San Diego | | CA | | | 107,210 | | | $ | - | | | | 07/2010 | | | | 12/2018 | | | $ | 5,463 | | | $ | 32 | | | $ | 376 | |
| | 21082 Pioneer Plaza Dr. (2) | | Watertown | | NY | | | 120,727 | | | $ | - | | | | 07/2010 | | | | 12/2018 | | | $ | 5,316 | | | $ | 47 | | | $ | 241 | |
| | 255 Northgate Dr. (2) | | Manteca | | CA | | | 107,489 | | | $ | - | | | | 07/2010 | | | | 12/2018 | | | $ | 6,509 | | | $ | 50 | | | $ | 278 | |
| | 5350 Leavitt Rd. (2) | | Lorain | | OH | | | 193,193 | | | $ | - | | | | 07/2010 | | | | 12/2018 | | | $ | 8,513 | | | $ | 70 | | | $ | 366 | |
| | 97 Seneca Trail (2) | | Fairlea | | WV | | | 90,933 | | | $ | - | | | | 07/2010 | | | | 12/2018 | | | $ | 3,360 | | | $ | 33 | | | $ | 173 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Total 2010 Mortgage Maturities | | | 1,602,120 | | | $ | 71,458 | | | | | | | | | | | $ | 158,190 | | | $ | 5,437 | | | $ | 7,478 | |
Footnotes
(1) Represents GAAP capitalized costs.
(2) Loan satisfied July 2010.
LEXINGTON REALTY TRUST
2011 Mortgage Maturities by Property Type
6/30/2010
| | | Property Location | | City | | State | | Net Rentable Area | | | Mortgage Balance at Maturity ($000) | | | Maturity Date | | | Tenant Lease Expires | | | Gross Book Value ($000) (1) | | | Cash Rent as of 6/30/2010 ($000) | | | GAAP Base Rent as of 6/30/2010 ($000) | |
| Office | | 389-399 Interpace Hwy. | | Parsippany | | NJ | | | 340,240 | | | $ | 37,047 | | | | 03/2011 | | | | 2015/2021 | | | $ | 106,561 | | | $ | 4,607 | | | $ | 4,778 | |
| | | 100 Barnes Rd. | | Wallingford | | CT | | | 44,400 | | | $ | 3,187 | | | | 05/2011 | | | | 06/2018 | | | $ | 5,675 | | | $ | 340 | | | $ | 254 | |
| Industrial | | 291 Park Center Dr. | | Winchester | | VA | | | 344,700 | | | $ | 9,690 | | | | 08/2011 | | | | 05/2011 | | | $ | 18,865 | | | $ | 804 | | | $ | 788 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Total 2011 Mortgage Maturities | | | 729,340 | | | $ | 49,924 | | | | | | | | | | | $ | 131,101 | | | $ | 5,751 | | | $ | 5,820 | |
Footnotes
(1) Represents GAAP capitalized costs.
LEXINGTON REALTY TRUST
2012 Mortgage Maturities by Property Type
6/30/2010
| | | Property Location | | City | | State | | Net Rentable Area | | | Mortgage
Balance at Maturity
($000) | | Maturity
Date | | Tenant
Lease
Expires | | Gross Book Value ($000) (1) | | | Cash Rent as of 6/30/2010 ($000) | | | GAAP Base Rent as of 6/30/2010 ($000) | |
| Office | | 1315 West Century Dr. | | Louisville | | CO | | | 106,877 | | | $ | 7,195 | | 01/2012 | | 04/2017 | | $ | 16,933 | | | $ | 713 | | | $ | 800 | |
| | | 2000 Eastman Dr. | | Milford | | OH | | | 221,215 | | | $ | 12,686 | | 02/2012 | | 04/2016 | | $ | 26,627 | | | $ | 1,243 | | | $ | 911 | |
| | | 26210 and 26220 Enterprise Court | | Lake Forest | | CA | | | 100,012 | | | $ | 9,708 | | 02/2012 | | 01/2012 | | $ | 17,211 | | | $ | 983 | | | $ | 896 | |
| | | 200 Lucent Ln. | | Cary | | NC | | | 124,944 | | | $ | 12,543 | | 05/2012 | | 09/2011 | | $ | 23,881 | | | $ | 1,140 | | | $ | 1,029 | |
| | | 2050 Roanoke Rd. | | Westlake | | TX | | | 130,290 | | | $ | 17,829 | | 05/2012 | | 12/2011 | | $ | 32,697 | | | $ | 1,830 | | | $ | 1,727 | |
| | | 3940 South Teller St. | | Lakewood | | CO | | | 68,165 | | | $ | 7,890 | | 05/2012 | | 03/2012 | | $ | 12,155 | | | $ | 602 | | | $ | 434 | |
| | | 37101 Corporate Dr. | | Farmington Hills | | MI | | | 119,829 | | | $ | 17,724 | | 09/2012 | | 12/2016 | | $ | 32,876 | | | $ | 1,537 | | | $ | 1,221 | |
| | | 4455 American Way | | Baton Rouge | | LA | | | 70,100 | | | $ | 5,948 | | 10/2012 | | 10/2012 | | $ | 13,868 | | | $ | 565 | | | $ | 557 | |
| | | 1110 Bayfield Dr. | | Colorado Springs | | CO | | | 166,575 | | | $ | 10,272 | | 12/2012 | | 11/2013 | | $ | 19,579 | | | $ | 872 | | | $ | 800 | |
| Industrial | | 245 Salem Church Rd. | | Mechanicsburg | | PA | | | 252,000 | | | $ | 4,514 | | 01/2012 | | 12/2012 | | $ | 9,051 | | | $ | 435 | | | $ | 433 | |
| | | 34 East Main St. | | New Kingstown | | PA | | | 179,200 | | | $ | 2,914 | | 01/2012 | | NA | | $ | 6,034 | | | $ | - | | | $ | - | |
| | | 6 Doughten Rd. | | New Kingstown | | PA | | | 330,000 | | | $ | 6,116 | | 01/2012 | | NA | | $ | 12,342 | | | $ | - | | | $ | - | |
| | | 3820 Micro Dr. | | Millington | | TN | | | 701,819 | | | $ | 16,222 | | 05/2012 | | 09/2011 | | $ | 24,870 | | | $ | 1,220 | | | $ | 1,185 | |
| | | 101 Michelin Dr. | | Laurens | | SC | | | 1,164,000 | | | $ | 14,022 | | 09/2012 | | 08/2012 | | $ | 34,370 | �� | | $ | 1,707 | | | $ | 1,652 | |
| | | 7111 Crabb Rd. | | Temperance | | MI | | | 744,570 | | | $ | 9,400 | | 09/2012 | | 08/2012 | | $ | 21,188 | | | $ | 1,144 | | | $ | 1,107 | |
| | | 19500 Bulverde Rd. | | San Antonio | | TX | | | 559,258 | | | $ | 26,025 | | 10/2012 | | 03/2016 | | $ | 41,882 | | | $ | 1,665 | | | $ | 1,715 | |
| | | 43955 Plymouth Oaks Blvd. | | Plymouth | | MI | | | 290,133 | | | $ | 10,026 | | 12/2012 | | 10/2012 | | $ | 19,161 | | | $ | 943 | | | $ | 917 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Total 2012 Mortgage Maturities | | | | | | | 5,328,987 | | | $ | 191,034 | | | | | | $ | 364,725 | | | $ | 16,599 | | | $ | 15,384 | |
Footnotes
(1) Represents GAAP capitalized costs.
LEXINGTON REALTY TRUST
2013 Mortgage Maturities by Property Type
6/30/2010
| | | Property Location | | City | | State | | Net
Rentable
Area | | | Mortgage
Balance at Maturity
($000) | | | Maturity
Date | | | Tenant
Lease
Expires | | | Gross Book Value ($000) (1) | | | Cash Rent as of 6/30/2010 ($000) | | | GAAP Base Rent as of 6/30/2010 ($000) | |
| Office | | 3476 Stateview Blvd. | | Fort Mill | | SC | | | 169,083 | | | $ | 9,904 | | | 01/2013 | | | | 05/2014 | | | $ | 18,079 | | | $ | 1,272 | | | $ | 1,267 | |
| | | 9201 East Dry Creek Rd. | | Centennial | | CO | | | 128,500 | | | $ | 13,555 | | | 02/2013 | | | | 09/2017 | | | $ | 26,922 | | | $ | 1,119 | | | $ | 1,186 | |
| | | 12600 Gateway Blvd. | | Fort Meyers | | FL | | | 62,400 | | | $ | 8,550 | | | 05/2013 | | | | 01/2013 | | | $ | 13,561 | | | $ | 559 | | | $ | 546 | |
| | | 200 Executive Blvd. South | | Southington | | CT | | | 153,364 | | | $ | 12,228 | | | 05/2013 | | | | 12/2012 | | | $ | 26,737 | | | $ | 840 | | | $ | 812 | |
| | | 275 South Valencia Ave. | | Brea | | CA | | | 637,503 | | | $ | 73,071 | | | 05/2013 | | | | 06/2012 | | | $ | 118,929 | | | $ | 4,355 | | | $ | 4,397 | |
| | | 5757 Decatur Blvd. | | Indianapolis | | IN | | | 89,956 | | | $ | 8,580 | | | 05/2013 | | | | 08/2012 | | | $ | 15,220 | | | $ | 708 | | | $ | 796 | |
| | | 810 & 820 Gears Rd. | | Houston | | TX | | | 157,790 | | | $ | 15,737 | | | 05/2013 | | | | 01/2013 | | | $ | 26,819 | | | $ | 1,126 | | | $ | 1,126 | |
| | | 8900 Freeport Pkwy. | | Irving | | TX | | | 268,445 | | | $ | 36,466 | | | 05/2013 | | | | 03/2013 | | | $ | 59,730 | | | $ | 2,457 | | | $ | 2,444 | |
| | | 6303 Barfield Rd. | | Atlanta | | GA | | | 238,600 | | | $ | 40,356 | | | 05/2013 | | | | 05/2013 | | | $ | 62,264 | | | $ | 2,411 | | | $ | 2,441 | |
| | | 2211 South 47th St. | | Phoenix | | AZ | | | 176,402 | | | $ | 16,490 | | | 09/2013 | | | | 11/2012 | | | $ | 24,631 | | | $ | 1,204 | | | $ | 1,130 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Total 2013 Mortgage Maturities | | | | | 2,082,043 | | | $ | 234,937 | | | | | | | | | | $ | 392,892 | | | $ | 16,051 | | | $ | 16,145 | |
Footnotes
(1) Represents GAAP capitalized costs.
LEXINGTON REALTY TRUST
2014 Mortgage Maturities by Property Type
6/30/2010
| | | Property Location | | City | | State | | Net
Rentable
Area | | | Mortgage
Balance at Maturity
($000) | | | Maturity
Date | | | Tenant
Lease
Expires | | | Gross Book Value ($000) (1) | | | Cash Rent as of 6/30/2010 ($000) | | | GAAP Base Rent as of 6/30/2010 ($000) | |
| Office | | 33 Commercial St. | | Foxboro | | MA | | | 164,689 | | | $ | - | | | | 01/2014 | | | | 07/2015 | | | $ | 29,238 | | | $ | 2,800 | | | $ | 1,752 | |
| | | 1275 Northwest 128th St. | | Clive | | IA | | | 61,180 | | | $ | 5,151 | | | | 05/2014 | | | | 01/2012 | | | $ | 10,599 | | | $ | 400 | | | $ | 400 | |
| | | 3480 Stateview Blvd. | | Fort Mill | | SC | | | 169,218 | | | $ | 18,311 | | | | 05/2014 | | | | 05/2014 | | | $ | 29,174 | | | $ | 1,744 | | | $ | 1,733 | |
| | | 1701 Market St. (2) | | Philadelphia | | PA | | | 305,170 | | | $ | 43,547 | | | | 07/2014 | | | Various | | | $ | 69,886 | | | $ | 3,569 | | | $ | 3,570 | |
| | | 10300 Kincaid Dr. | | Fishers | | IN | | | 193,000 | | | $ | 10,466 | | | | 08/2014 | | | | 01/2020 | | | $ | 28,198 | | | $ | 1,367 | | | $ | 1,712 | |
| | | 3965 Airways Blvd. | | Memphis | | TN | | | 521,286 | | | $ | 47,270 | | | | 09/2014 | | | | 06/2019 | | | $ | 116,410 | | | $ | 3,388 | | | $ | 3,506 | |
| | | 500 Jackson St. | | Columbus | | IN | | | 390,100 | | | $ | 26,399 | | | | 09/2014 | | | | 07/2019 | | | $ | 53,821 | | | $ | 2,213 | | | $ | 2,270 | |
| | | 6226 West Sahara Ave. | | Las Vegas | | NV | | | 282,000 | | | $ | 32,118 | | | | 09/2014 | | | | 01/2029 | | | $ | 64,735 | | | $ | 4,007 | | | $ | 2,106 | |
| | | 22011 Southeast 51st St./5150 220th Ave. | | Issaquah | | WA | | | 202,544 | | | $ | 30,388 | | | | 12/2014 | | | | 12/2014 | | | $ | 51,195 | | | $ | 2,070 | | | $ | 2,020 | |
| | | 275 Technology Dr. | | Canonsburg | | PA | | | 107,872 | | | $ | 9,095 | | | | 12/2014 | | | | 12/2014 | | | $ | 15,739 | | | $ | 715 | | | $ | 689 | |
| Industrial | | 2415 US Hwy. 78 East | | Moody | | AL | | | 595,346 | | | $ | 6,350 | | | | 01/2014 | | | | 01/2014 | | | $ | 11,575 | | | $ | 527 | | | $ | 527 | |
| | | 1109 Commerce Blvd. | | Swedesboro | | NJ | | | 262,644 | | | $ | 6,784 | | | | 04/2014 | | | NA | | | $ | 14,695 | | | $ | - | | | $ | - | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Total 2014 Mortgage Maturities | | | | | | | 3,255,049 | | | $ | 235,879 | | | | | | | | | | | $ | 495,265 | | | $ | 22,800 | | | $ | 20,285 | |
Footnotes
(1) Represents GAAP capitalized costs.
(2) Lexington has an 80.5% interest in the property.
LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
6/30/2010
| Property | | Footnotes | | Debt Balance ($000) | | | Interest Rate (%) | | | Maturity (a) | | | Current
Estimated
Annual Debt
Service
($000) (d) | | | Balloon
Payment
($000) | |
| Lorain, OH | | (b) | | $ | 376 | | | | 5.540 | % | | | 07/2010 | | | $ | 386 | | | $ | - | |
| Manteca, CA | | (b) | | | 265 | | | | 5.540 | % | | | 07/2010 | | | | 273 | | | | - | |
| Watertown, NY | | (b) | | | 249 | | | | 5.540 | % | | | 07/2010 | | | | 256 | | | | - | |
| Lewisburg, WV | | (b) | | | 175 | | | | 5.540 | % | | | 07/2010 | | | | 180 | | | | - | |
| San Diego, CA | | (b) | | | 169 | | | | 5.540 | % | | | 07/2010 | | | | 174 | | | | - | |
| Galesburg, IL | | (b) | | | 149 | | | | 5.540 | % | | | 07/2010 | | | | 153 | | | | - | |
| Tampa, FL | | | | | 5,512 | | | | 6.880 | % | | | 08/2010 | | | | 73 | | | | 5,503 | |
| Irving, TX | | (b) | | | 24,581 | | | | 6.587 | % | | | 10/2010 | | | | 572 | | | | 24,454 | |
| Lake Mary, FL | | (b) | | | 12,211 | | | | 6.502 | % | | | 10/2010 | | | | 375 | | | | 12,118 | |
| Lake Mary, FL | | (b) | | | 12,175 | | | | 6.502 | % | | | 10/2010 | | | | 374 | | | | 12,082 | |
| Herndon, VA | | | | | 17,415 | | | | 8.180 | % | | | 12/2010 | | | | 836 | | | | 17,301 | |
| Parsippany, NJ | | (b) | | | 37,744 | | | | 6.349 | % | | | 03/2011 | | | | 2,527 | | | | 37,047 | |
| Wallingford, CT | | | | | 3,232 | | | | 4.926 | % | | | 05/2011 | | | | 179 | | | | 3,187 | |
| Winchester, VA | | (b) | | | 9,995 | | | | 6.346 | % | | | 08/2011 | | | | 908 | | | | 9,690 | |
| Louisville, CO | | | | | 7,365 | | | | 5.830 | % | | | 01/2012 | | | | 544 | | | | 7,195 | |
| New Kingston, PA | | | | | 6,490 | | | | 7.790 | % | | | 01/2012 | | | | 678 | | | | 6,116 | |
| Mechanicsburg, PA | | | | | 4,716 | | | | 7.780 | % | | | 01/2012 | | | | 500 | | | | 4,514 | |
| New Kingston, PA | | | | | 3,092 | | | | 7.780 | % | | | 01/2012 | | | | 323 | | | | 2,914 | |
| Milford, OH | | (b) | | | 14,103 | | | | 6.612 | % | | | 02/2012 | | | | 1,822 | | | | 12,686 | |
| Lake Forest, CA | | | | | 9,970 | | | | 7.260 | % | | | 02/2012 | | | | 901 | | | | 9,708 | |
| Westlake, TX | | (b) | | | 18,357 | | | | 5.392 | % | | | 05/2012 | | | | 1,280 | | | | 17,829 | |
| Millington, TN | | | | | 16,749 | | | | 5.247 | % | | | 05/2012 | | | | 1,181 | | | | 16,222 | |
| Cary, NC | | (b) | | | 12,734 | | | | 5.584 | % | | | 05/2012 | | | | 826 | | | | 12,543 | |
| Lakewood, CO | | | | | 8,166 | | | | 5.097 | % | | | 05/2012 | | | | 566 | | | | 7,890 | |
| Farmington Hills, MI | | (b) | | | 18,643 | | | | 5.723 | % | | | 09/2012 | | | | 1,500 | | | | 17,724 | |
| Laurens, SC | | (b) | | | 15,145 | | | | 5.911 | % | | | 09/2012 | | | | 1,396 | | | | 14,022 | |
| Temperance, MI | | (b) | | | 10,152 | | | | 5.912 | % | | | 09/2012 | | | | 936 | | | | 9,400 | |
| Baton Rouge, LA | | (b) | | | 6,212 | | | | 5.333 | % | | | 10/2012 | | | | 443 | | | | 5,948 | |
| San Antonio, TX | | | | | 27,392 | | | | 6.080 | % | | | 10/2012 | | | | 2,260 | | | | 26,025 | |
| Plymouth, MI | | (b) | | | 10,988 | | | | 5.964 | % | | | 12/2012 | | | | 1,026 | | | | 10,026 | |
| Colorado Springs, CO | | (b) | | | 10,857 | | | | 5.996 | % | | | 12/2012 | | | | 887 | | | | 10,272 | |
| Fort Mill, SC | | | | | 10,430 | | | | 6.000 | % | | | 01/2013 | | | | 839 | | | | 9,904 | |
| Centennial, CO | | (b) | | | 14,516 | | | | 5.724 | % | | | 02/2013 | | | | 1,177 | | | | 13,555 | |
| Brea, CA | | (b) | | | 75,880 | | | | 5.734 | % | | | 05/2013 | | | | 5,361 | | | | 73,071 | |
| Atlanta, GA | | | | | 42,513 | | | | 5.268 | % | | | 05/2013 | | | | 3,004 | | | | 40,356 | |
| Irving, TX | | (b) | | | 38,202 | | | | 5.452 | % | | | 05/2013 | | | | 2,702 | | | | 36,466 | |
| Houston, TX | | | | | 16,611 | | | | 5.218 | % | | | 05/2013 | | | | 1,166 | | | | 15,737 | |
| Southington, CT | | | | | 12,910 | | | | 5.018 | % | | | 05/2013 | | | | 890 | | | | 12,228 | |
| Indianapolis, IN | | | | | 9,061 | | | | 5.168 | % | | | 05/2013 | | | | 633 | | | | 8,580 | |
| Fort Meyers, FL | | | | | 8,893 | | | | 5.268 | % | | | 05/2013 | | | | 592 | | | | 8,550 | |
| Phoenix, AZ | | | | | 17,869 | | | | 6.270 | % | | | 09/2013 | | | | 1,527 | | | | 16,490 | |
| Foxboro, MA | | (b) | | | 11,362 | | | | 6.000 | % | | | 01/2014 | | | | 3,378 | | | | - | |
| Moody, AL | | | | | 6,902 | | | | 4.978 | % | | | 01/2014 | | | | 493 | | | | 6,350 | |
| Swedesboro, NJ | | (b) | | | 7,128 | | | | 5.545 | % | | | 04/2014 | | | | 482 | | | | 6,784 | |
| Clive, IA | | | | | 5,563 | | | | 5.139 | % | | | 05/2014 | | | | 387 | | | | 5,151 | |
| Fort Mill, SC | | | | | 19,538 | | | | 5.373 | % | | | 05/2014 | | | | 1,364 | | | | 18,311 | |
| Philadelphia, PA | | (p) | | | 46,926 | | | | 5.060 | % | | | 07/2014 | | | | 3,178 | | | | 43,547 | |
| Fishers, IN | | | | | 11,396 | | | | 6.375 | % | | | 08/2014 | | | | 932 | | | | 10,466 | |
LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
6/30/2010
| Property | | Footnotes | | Debt Balance ($000) | | | Interest Rate (%) | | | Maturity (a) | | | Current
Estimated
Annual Debt
Service
($000) (d) | | | Balloon
Payment
($000) | |
| Columbus, IN | | (i) | | | 25,831 | | | | 6.150 | % | | | 09/2014 | | | | 1,611 | | | | 25,831 | |
| Las Vegas, NV | | (i) | | | 31,427 | | | | 6.150 | % | | | 09/2014 | | | | 1,960 | | | | 31,427 | |
| Memphis, TN | | (i) | | | 46,253 | | | | 6.150 | % | | | 09/2014 | | | | 2,884 | | | | 46,253 | |
| Columbus, IN | | (i) | | | 609 | | | | 7.500 | % | | | 09/2014 | | | | 54 | | | | 568 | |
| Las Vegas, NV | | (i) | | | 741 | | | | 7.500 | % | | | 09/2014 | | | | 66 | | | | 691 | |
| Memphis, TN | | (i) | | | 1,091 | | | | 7.500 | % | | | 09/2014 | | | | 97 | | | | 1,017 | |
| Issaquah, WA | | (b) | | | 31,815 | | | | 5.665 | % | | | 12/2014 | | | | 2,113 | | | | 30,388 | |
| Canonsburg, PA | | (b) | | | 9,078 | | | | 5.426 | % | | | 12/2014 | | | | 489 | | | | 9,095 | |
| Chicago, IL | | (b) | | | 29,252 | | | | 5.639 | % | | | 01/2015 | | | | 1,548 | | | | 29,900 | |
| Greenville, SC | | | | | 9,000 | | | | 5.500 | % | | | 01/2015 | | | | 512 | | | | 9,000 | |
| Carrollton, TX | | | | | 13,326 | | | | 5.530 | % | | | 01/2015 | | | | 993 | | | | 12,022 | |
| Herndon, VA | | (b) | | | 11,455 | | | | 5.885 | % | | | 04/2015 | | | | 888 | | | | 10,359 | |
| Richmond, VA | | (b) | | | 19,557 | | | | 5.377 | % | | | 05/2015 | | | | 1,292 | | | | 18,321 | |
| Houston, TX | | | | | 15,958 | | | | 5.160 | % | | | 05/2015 | | | | 1,114 | | | | 14,408 | |
| Rockaway, NJ | | | | | 14,900 | | | | 5.292 | % | | | 05/2015 | | | | 799 | | | | 14,900 | |
| Houston, TX | | | | | 12,466 | | | | 5.210 | % | | | 05/2015 | | | | 874 | | | | 11,265 | |
| Fishers, IN | | | | | 12,391 | | | | 5.160 | % | | | 05/2015 | | | | 865 | | | | 11,188 | |
| San Antonio, TX | | | | | 12,294 | | | | 5.340 | % | | | 05/2015 | | | | 875 | | | | 11,149 | |
| Atlanta, GA | | | | | 11,314 | | | | 5.260 | % | | | 05/2015 | | | | 751 | | | | 10,502 | |
| Los Angeles, CA | | | | | 10,787 | | | | 5.110 | % | | | 05/2015 | | | | 750 | | | | 9,760 | |
| Richmond, VA | | | | | 9,989 | | | | 5.310 | % | | | 05/2015 | | | | 708 | | | | 9,055 | |
| Harrisburg, PA | | | | | 8,623 | | | | 5.110 | % | | | 05/2015 | | | | 599 | | | | 7,780 | |
| Knoxville, TN | | | | | 7,345 | | | | 5.310 | % | | | 05/2015 | | | | 520 | | | | 6,658 | |
| Tulsa, OK | | | | | 7,218 | | | | 5.060 | % | | | 05/2015 | | | | 499 | | | | 6,517 | |
| Carrollton, TX | | (b) | | | 19,985 | | | | 5.725 | % | | | 07/2015 | | | | 1,382 | | | | 18,710 | |
| Elizabethtown, KY | | (j) | | | 14,909 | | | | 4.990 | % | | | 07/2015 | | | | 1,042 | | | | 13,358 | |
| Hopkinsville, KY | | | | | 8,740 | | | | 4.990 | % | | | 07/2015 | | | | 611 | | | | 7,830 | |
| Dry Ridge, KY | | (n) | | | 6,339 | | | | 4.990 | % | | | 07/2015 | | | | 445 | | | | 5,702 | |
| Owensboro, KY | | (n) | | | 5,626 | | | | 4.990 | % | | | 07/2015 | | | | 395 | | | | 5,064 | |
| Elizabethtown, KY | | (j) | | | 2,813 | | | | 4.990 | % | | | 07/2015 | | | | 197 | | | | 2,520 | |
| Houston, TX | | (b) | | | 47,242 | | | | 6.250 | % | | | 09/2015 | | | | 8,351 | | | | 18,161 | |
| Sugar Land, TX | | (b) | | | 12,280 | | | | 6.250 | % | | | 09/2015 | | | | 2,131 | | | | 6,286 | |
| Bridgewater, NJ | | | | | 14,805 | | | | 5.732 | % | | | 03/2016 | | | | 860 | | | | 13,825 | |
| Omaha, NE | | | | | 8,480 | | | | 5.610 | % | | | 04/2016 | | | | 621 | | | | 7,560 | |
| Tempe, AZ | | | | | 8,009 | | | | 5.610 | % | | | 04/2016 | | | | 586 | | | | 7,140 | |
| Lisle, IL | | | | | 10,229 | | | | 6.500 | % | | | 06/2016 | | | | 793 | | | | 9,377 | |
| Dallas, TX | | (b) | | | 18,516 | | | | 5.939 | % | | | 07/2016 | | | | 1,136 | | | | 18,365 | |
| Rochester, NY | | (f) | | | 18,413 | | | | 6.210 | % | | | 08/2016 | | | | 1,383 | | | | 16,765 | |
| Statesville, NC | | (f) | | | 13,810 | | | | 6.210 | % | | | 08/2016 | | | | 1,037 | | | | 12,574 | |
| Rockford, IL | | (f) | | | 6,758 | | | | 6.210 | % | | | 08/2016 | | | | 508 | | | | 6,153 | |
| Glenwillow, OH | | | | | 16,641 | | | | 6.130 | % | | | 09/2016 | | | | 1,240 | | | | 15,132 | |
| Memphis, TN | | | | | 3,877 | | | | 5.710 | % | | | 01/2017 | | | | 275 | | | | 3,484 | |
| Orlando, FL | | | | | 9,975 | | | | 5.722 | % | | | 02/2017 | | | | 579 | | | | 9,309 | |
| Dubuque, IA | | | | | 10,190 | | | | 5.402 | % | | | 06/2017 | | | | 733 | | | | 8,725 | |
| Shreveport, LA | | | | | 19,000 | | | | 5.690 | % | | | 07/2017 | | | | 1,096 | | | | 19,000 | |
| McDonough, GA | | | | | 23,000 | | | | 6.110 | % | | | 11/2017 | | | | 1,425 | | | | 21,651 | |
| Lorain, OH | | (b) | | | 1,255 | | | | 7.750 | % | | | 07/2018 | | | | 108 | | | | - | |
| Manteca, CA | | (b) | | | 887 | | | | 7.750 | % | | | 07/2018 | | | | 77 | | | | - | |
| Watertown, NY | | (b) | | | 834 | | | | 7.750 | % | | | 07/2018 | | | | 72 | | | | - | |
LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
6/30/2010
| Property | | Footnotes | | Debt Balance ($000) | | | Interest Rate (%) | | | Maturity (a) | | | Current
Estimated
Annual Debt
Service
($000) (d) | | | Balloon
Payment
($000) | |
| Lewisburg, WV | | (b) | | | 586 | | | | 7.750 | % | | | 07/2018 | | | | 51 | | | | - | |
| San Diego, CA | | (b) | | | 565 | | | | 7.750 | % | | | 07/2018 | | | | 49 | | | | - | |
| Galesburg, IL | | (b) | | | 498 | | | | 7.750 | % | | | 07/2018 | | | | 43 | | | | - | |
| Boston, MA | | | | | 13,448 | | | | 6.100 | % | | | 12/2018 | | | | 996 | | | | 11,520 | |
| Overland Park, KS | | (b) | | | 36,980 | | | | 5.891 | % | | | 05/2019 | | | | 2,657 | | | | 31,819 | |
| Kansas City, MO | | (b) | | | 17,640 | | | | 5.883 | % | | | 05/2019 | | | | 1,268 | | | | 15,182 | |
| Streetsboro, OH | | (b) | | | 19,091 | | | | 5.749 | % | | | 09/2019 | | | | 1,344 | | | | 16,338 | |
| Boca Raton, FL | | | | | 20,400 | | | | 6.470 | % | | | 02/2020 | | | | 1,338 | | | | 18,383 | |
| Wall, NJ | | (b) | | | 27,528 | | | | 6.250 | % | | | 01/2021 | | | | 3,182 | | | | - | |
| Charleston, SC | | | | | 7,350 | | | | 5.850 | % | | | 02/2021 | | | | 436 | | | | 6,632 | |
| Durham, NH | | (b) | | | 18,175 | | | | 6.750 | % | | | 03/2021 | | | | 1,472 | | | | - | |
| Antioch, TN | | (b) | | | 13,047 | | | | 6.320 | % | | | 10/2021 | | | | 1,580 | | | | 774 | |
| Whippany, NJ | | | | | 15,867 | | | | 6.298 | % | | | 11/2021 | | | | 1,344 | | | | 10,400 | |
| Dillon, SC | | | | | 21,801 | | | | 5.974 | % | | | 02/2022 | | | | 1,832 | | | | 13,269 | |
| Salt Lake City, UT | | | | | 37,000 | | | | 5.527 | % | | | 10/2028 | | | | 3,232 | | | | - | |
Subtotal/Wtg. Avg./Years Remaining (l) | | $ | 1,586,388 | | | | 5.845 | % | | | 4.9 | | | $ | 123,208 | | | $ | 1,347,024 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| Corporate | | | | | | | | | | | | | | | | | | | | | | |
| Term Loan | | (c) | | $ | 80,000 | | | | 3.200 | % | | | 02/2011 | | | $ | 2,596 | | | $ | 80,000 | |
| Term Loan | | (h)(k) | | | 35,551 | | | | 5.520 | % | | | 03/2013 | | | | 1,990 | | | | 35,551 | |
| Term Loan | | (h)(k) | | | 25,000 | | | | 5.520 | % | | | 03/2013 | | | | 1,399 | | | | 25,000 | |
| Exchangeable Notes | | (e)(m) | | | 62,150 | | | | 5.450 | % | | | 01/2027 | | | | 3,387 | | | | 62,150 | |
| Convertible Notes | | (o)(q) | | | 115,000 | | | | 6.000 | % | | | 01/2030 | | | | 6,900 | | | | 115,000 | |
| Trust Preferred Notes | | (g) | | | 129,120 | | | | 6.804 | % | | | 04/2037 | | | | 8,785 | | | | 129,120 | |
Subtotal/Wtg. Avg./Years Remaining (l) | | $ | 446,821 | | | | 5.589 | % | | | 10.1 | | | $ | 25,057 | | | $ | 446,821 | |
Total/Wtg. Avg./Years Remaining (l) | | $ | 2,033,209 | | | | 5.789 | % | | | 6.0 | | | $ | 148,265 | | | $ | 1,793,845 | |
Footnotes
| (a) | Subtotal and total based on weighted average term to maturity (or put dates) shown in years based on debt balance. |
| (b) | Debt balances based upon imputed interest rates. |
| (c) | Floating rate debt 30/60/90/120 day LIBOR plus 285 bps, maturity can be extended to 02/2012 at the Company's option. |
| (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. |
| (f) | Properties are cross-collateralized properties. |
| (g) | Rate fixed through 04/2017, thereafter LIBOR plus 170 bps. |
| (h) | Rate is swapped to fixed rate through maturity. |
| (i) | Properties are cross-collateralized properties. |
| (j) | Properties are cross-collateralized properties. |
| (k) | Represents full payable of loans, discount of $2,681 excluded from balance. |
| (l) | Total shown may differ from detailed amounts due to rounding. |
| (m) | Represents full payable of notes, discount of $1,044 excluded from balance. |
| (n) | Properties are cross-collateralized properties. |
| (o) | Holders have the right to redeem the notes on 01/15/17, 01/15/20 and 01/15/25. |
| (p) | Lexington has an 80.5% interest in this property. |
| (q) | Represents full payable of notes, discount of $12,758 excluded from balance. |
LEXINGTON REALTY TRUST
Non- Consolidated Investments: Mortgages & Notes Payable
6/30/2010
| Joint Venture | | Debt
Balance
($000) | | | LXP Proportionate Share ($000) (3) | | | Interest Rate (%) | | | Maturity | | | Current
Estimated
Annual Debt
Service
($000) (4) | | | Balloon
Payment
($000) | | | Proportionate Share Balloon Payment ($000) (3) | |
| Net Lease Strategic | | $ | 7,626 | | | $ | 1,144 | | | | 6.930 | % | | | 08/2010 | | | $ | 112 | | | $ | 7,603 | | | $ | 1,140 | |
| Harpard | | | 300 | | | | 82 | | | | 9.875 | % | | | 01/2011 | | | | 309 | | | | - | | | | - | |
| Net Lease Strategic | | | 2,103 | | | | 315 | | | | 7.500 | % | | | 01/2011 | | | | 108 | | | | 2,076 | | | | 311 | |
| Net Lease Strategic | | | 13,531 | | | | 2,030 | | | | 7.400 | % | | | 04/2011 | | | | 924 | | | | 13,365 | | | | 2,005 | |
| Net Lease Strategic | | | 30,582 | | | | 4,587 | | | | 5.126 | % | | | 05/2011 | | | | 1,324 | | | | 30,582 | | | | 4,587 | |
| Taber | | | 296 | | | | 81 | | | | 10.125 | % | | | 06/2011 | | | | 313 | | | | - | | | | - | |
| Jayal | | | 600 | | | | 178 | | | | 11.500 | % | | | 03/2012 | | | | 303 | | | | - | | | | - | |
| Net Lease Strategic | | | 22,711 | | | | 3,407 | | | | 5.147 | % | | | 05/2012 | | | | 1,491 | | | | 22,153 | | | | 3,323 | |
| Net Lease Strategic | | | 7,437 | | | | 1,116 | | | | 7.670 | % | | | 01/2013 | | | | 2,907 | | | | - | | | | - | |
| Net Lease Strategic | | | 12,807 | | | | 1,921 | | | | 5.148 | % | | | 05/2013 | | | | 894 | | | | 12,144 | | | | 1,822 | |
| Net Lease Strategic | | | 4,805 | | | | 721 | | | | 5.950 | % | | | 09/2013 | | | | 381 | | | | 4,496 | | | | 674 | |
| Net Lease Strategic | | | 20,051 | | | | 3,008 | | | | 5.810 | % | | | 02/2014 | | | | 1,551 | | | | 18,588 | | | | 2,788 | |
| Net Lease Strategic | | | 9,204 | | | | 1,381 | | | | 5.616 | % | | | 04/2014 | | | | 697 | | | | 8,484 | | | | 1,273 | |
| Net Lease Strategic | | | 1,054 | | | | 158 | | | | 8.500 | % | | | 04/2015 | | | | 271 | | | | - | | | | - | |
| Net Lease Strategic | | | 16,592 | | | | 2,489 | | | | 5.411 | % | | | 05/2015 | | | | 1,189 | | | | 15,087 | | | | 2,263 | |
| Net Lease Strategic - Oklahoma TIC | | | 14,734 | | | | 884 | | | | 5.240 | % | | | 05/2015 | | | | 976 | | | | 13,673 | | | | 820 | |
| Net Lease Strategic | | | 12,369 | | | | 1,855 | | | | 5.212 | % | | | 06/2015 | | | | 836 | | | | 11,349 | | | | 1,702 | |
| Net Lease Strategic | | | 5,996 | | | | 899 | | | | 5.783 | % | | | 06/2015 | | | | 462 | | | | 5,371 | | | | 806 | |
| Net Lease Strategic | | | 18,027 | | | | 2,704 | | | | 8.036 | % | | | 09/2015 | | | | 3,432 | | | | 6,925 | | | | 1,039 | |
| Net Lease Strategic | | | 5,181 | | | | 777 | | | | 8.036 | % | | | 09/2015 | | | | 948 | | | | 2,203 | | | | 330 | |
| Net Lease Strategic | | | 8,415 | | | | 1,262 | | | | 6.090 | % | | | 01/2016 | | | | 668 | | | | 7,446 | | | | 1,117 | |
| Net Lease Strategic | | | 6,220 | | | | 933 | | | | 6.090 | % | | | 04/2016 | | | | 494 | | | | 5,465 | | | | 820 | |
| Net Lease Strategic | | | 6,375 | | | | 956 | | | | 6.315 | % | | | 09/2016 | | | | 497 | | | | 5,723 | | | | 858 | |
| One Summit | | | 15,874 | | | | 4,762 | | | | 9.375 | % | | | 10/2016 | | | | 3,344 | | | | - | | | | - | |
| Net Lease Strategic | | | 9,001 | | | | 1,350 | | | | 6.063 | % | | | 11/2016 | | | | 683 | | | | 8,023 | | | | 1,203 | |
| One Summit | | | 10,385 | | | | 3,116 | | | | 10.625 | % | | | 11/2016 | | | | 2,239 | | | | - | | | | - | |
| Net Lease Strategic | | | 8,802 | | | | 1,320 | | | | 5.910 | % | | | 10/2018 | | | | 728 | | | | 6,624 | | | | 994 | |
| Net Lease Strategic | | | 9,652 | | | | 1,448 | | | | 6.010 | % | | | 08/2019 | | | | 753 | | | | 7,658 | | | | 1,149 | |
| Net Lease Strategic | | | 7,500 | | | | 1,125 | | | | 6.507 | % | | | 11/2019 | | | | 495 | | | | 6,692 | | | | 1,004 | |
LEXINGTON REALTY TRUST
Non- Consolidated Investments: Mortgages & Notes Payable
6/30/2010
| Joint Venture | | Debt
Balance
($000) | | | LXP Proportionate Share ($000) (3) | | | Interest Rate (%) | | | Maturity | | | Current
Estimated
Annual Debt
Service
($000) (4) | | | Balloon
Payment
($000) | | | Proportionate Share Balloon Payment ($000) (3) | |
| Net Lease Strategic | | | 9,742 | | | | 1,461 | | | | 6.270 | % | | | 12/2019 | | | | 774 | | | | 7,755 | | | | 1,163 | |
| Net Lease Strategic | | | 9,216 | | | | 1,382 | | | | 9.800 | % | | | 02/2020 | | | | 1,917 | | | | - | | | | - | |
| Net Lease Strategic | | | 9,851 | | | | 1,478 | | | | 5.930 | % | | | 10/2020 | | | | 750 | | | | 7,660 | | | | 1,149 | |
| Net Lease Strategic | | | 9,172 | | | | 1,376 | | | | 5.460 | % | | | 12/2020 | | | | 741 | | | | 5,895 | | | | 884 | |
| Net Lease Strategic | | | 9,360 | | | | 1,404 | | | | 5.640 | % | | | 01/2021 | | | | 692 | | | | 7,018 | | | | 1,053 | |
| Net Lease Strategic | | | 11,860 | | | | 1,779 | | | | 5.380 | % | | | 08/2025 | | | | 1,144 | | | | 362 | | | | 54 | |
Total/Wtg. Avg. (1)/Years Remaining (2) | | $ | 347,431 | | | $ | 54,889 | | | | 6.667 | % | | | 5.4 | | | $ | 35,347 | | | $ | 250,420 | | | $ | 36,331 | |
Footnotes
| (1) | Weighted average interest rate based on proportionate share. |
| (2) | Weighted average years remaining on maturities based on proportionate debt balance. |
| (3) | Total balance shown may differ from detailed amounts due to rounding. |
| (4) | Remaining payments for debt with less than 12 months to maturity, all others are debt service for 12 months. |
LEXINGTON REALTY TRUST
Partnership Interests
Six Months Ended June 30, 2010
($000)
Noncontrolling Interest Properties - Partners' Proportionate Share (1) | | | |
| | | | |
| EBITDA | | $ | 2,084 | |
| Interest expense | | $ | 575 | |
| Depreciation and amortization | | $ | 1,094 | |
| Impairment loss on real estate | | $ | 9,551 | |
| | | | | |
| Non-Consolidated Net Leased Real Estate - Lexington's Share | | | | |
| | | | | |
| EBITDA | | $ | 15,815 | |
| Interest expense | | $ | 1,860 | |
Footnotes
(1) Does not include OP unit noncontrolling interests.
LEXINGTON REALTY TRUST
Selected Balance Sheet Account Detail
6/30/2010
($000)
| Other assets | | $ | 42,913 | |
| | | | | |
| The components of other assets are: | | | | |
| | | | | |
| Deposits, including forward purchase equity commitment | | $ | 21,065 | |
| Investments | | | 10,550 | |
| Equipment | | | 1,204 | |
| Prepaids | | | 4,196 | |
| Other receivables | | | 1,330 | |
| Other | | | 4,568 | |
| | | | | |
| Accounts payable and other liabilities | | $ | 36,851 | |
| | | | | |
| The components of accounts payable and other liabilities are: | | | | |
| | | | | |
| Accounts payable and accrued expenses | | $ | 10,613 | |
| CIP accruals and other | | | 5,900 | |
| Taxes | | | 1,187 | |
| Deferred lease costs | | | 1,983 | |
| Subordinated notes | | | 2,081 | |
| Deposits | | | 1,477 | |
| Escrows | | | 2,321 | |
| Sale/leaseback financing obligation | | | 4,750 | |
| Transaction costs | | | 577 | |
| Derivative liability | | | 5,962 | |
LEXINGTON REALTY TRUST
Revenue Data
6/30/2010
($000)
Base Rent Estimates for Current Assets
| Year | | Cash (1) | | | GAAP (1) | |
| 2010 - remainder | | $ | 149,876 | | | $ | 153,489 | |
| 2011 | | $ | 297,424 | | | $ | 300,423 | |
| 2012 | | $ | 270,992 | | | $ | 271,438 | |
| 2013 | | $ | 232,321 | | | $ | 231,794 | |
| 2014 | | $ | 193,883 | | | $ | 197,417 | |
Other Revenue Data
| Asset Class | | GAAP Base Rent as of 6/30/10 (2) | | | Percentage | |
| Office | | $ | 103,549 | | | | 65.7 | % |
| Industrial | | $ | 31,429 | | | | 19.9 | % |
| Retail | | $ | 6,677 | | | | 4.2 | % |
| Multi-tenant | | $ | 16,152 | | | | 10.2 | % |
| | | $ | 157,807 | | | | 100.0 | % |
| | | | | | | | | |
Credit Ratings (3) | | | | | | | | |
| Investment Grade | | $ | 70,888 | | | | 44.9 | % |
| Non-Investment Grade | | $ | 24,794 | | | | 15.7 | % |
| Unrated | | $ | 62,125 | | | | 39.4 | % |
| | | $ | 157,807 | | | | 100.0 | % |
Footnotes
| (1) | Amounts assume (1) lease terms for non-cancellable periods only, (2) that all below market leases are renewed by the tenants at the option rate and (3) that no new or renegotiated leases are entered into for any other property. |
| (2) | Six months ended 6/30/2010 GAAP base rent recognized for consolidated properties owned as of6/30/2010. |
| (3) | Credit ratings are based upon either tenant, guarantor or parent. All multi-tenant assets are included in unrated. |
Top 20 Markets
6/30/2010
| | | Core Based Statistical Area (2) | | Percent of GAAP Base Rent as of 6/30/10 (1) | |
| 1 | | Dallas-Fort Worth-Arlington, TX | | | 7.9 | % |
| 2 | | Los Angeles-Long Beach-Santa Ana, CA | | | 6.9 | % |
| 3 | | New York-Northern New Jersey-Long Island, NY-NJ-PA | | | 6.6 | % |
| 4 | | Houston-Sugar Land-Baytown, TX | | | 5.0 | % |
| 5 | | Memphis, TN-MS-AR | | | 4.2 | % |
| 6 | | Atlanta-Sandy Springs-Marietta, GA | | | 3.9 | % |
| 7 | | Kansas City, MO-KS | | | 3.3 | % |
| 8 | | Orlando-Kissimmee, FL | | | 2.6 | % |
| 9 | | Detroit-Warren-Livonia, MI | | | 2.5 | % |
| 10 | | Indianapolis-Carmel, IN | | | 2.4 | % |
| 11 | | Boston-Cambridge-Quincy, MA-NH | | | 2.3 | % |
| 12 | | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | | | 2.3 | % |
| 13 | | Chicago-Naperville-Joliet, IL-IN-WI | | | 2.1 | % |
| 14 | | Charlotte-Gastonia-Concord, NC-SC | | | 1.9 | % |
| 15 | | Phoenix-Mesa-Scottsdale, AZ | | | 1.8 | % |
| 16 | | Washington-Arlington-Alexandria, DC-VA-MD-WV | | | 1.7 | % |
| 17 | | San Antonio, TX | | | 1.7 | % |
| 18 | | Seattle-Tacoma-Bellevue, WA | | | 1.6 | % |
| 19 | | Richmond, VA | | | 1.6 | % |
| 20 | | Denver-Aurora, CO | | | 1.5 | % |
| | | Total Top 20 Markets (3) | | | 63.7 | % |
Footnotes
| (1) | Six months ended 6/30/2010 GAAP base rent recognized for consolidated properties owned as of 6/30/2010. |
| (2) | A Core Based Statistical Area is the official term for a functional region based around an urban center of at least 10,000 people,based on standards published by the Office of Management and Budget (OMB) in 2000. These standards are used to replace the definitions of metropolitan areas that were defined in 1990. |
| (3) | Total shown may differ from detailed amounts due to rounding. |
LEXINGTON REALTY TRUST
Tenant Industry Diversification
6/30/2010
| Industry Category | | Percent of GAAP Base Rent as of 6/30/10 (1) | |
| Finance/Insurance | | | 12.4 | % |
| Consumer Products | | | 9.3 | % |
| Technology | | | 9.3 | % |
| Energy | | | 9.1 | % |
| Automotive | | | 9.1 | % |
| Food | | | 7.3 | % |
| Service | | | 7.2 | % |
| Transportation/Logistics | | | 6.1 | % |
| Healthcare | | | 5.9 | % |
| Construction/Materials | | | 3.7 | % |
| Telecommunications | | | 3.6 | % |
| Media/Advertising | | | 3.4 | % |
| Aerospace/Defense | | | 2.9 | % |
| Printing/Production | | | 2.6 | % |
| Education | | | 2.3 | % |
| Retail Department & Discount | | | 2.0 | % |
| Real Estate | | | 1.2 | % |
| Apparel | | | 1.0 | % |
| Retail - Specialty | | | 0.7 | % |
| Security | | | 0.6 | % |
| Retail - Electronics | | | 0.3 | % |
Total (2) | | | 100.0 | % |
Footnotes
| (1) | Six months ended 6/30/2010 GAAP base rent recognized for consolidated properties owned as of 6/30/2010. |
| (2) | Total shown may differ from detailed amounts due to rounding. |
LEXINGTON REALTY TRUST
Top 10 Tenants or Guarantors
6/30/2010
| Tenants or Guarantors | | Number of
Leases | | | Sq. Ft. Leased | | | Sq. Ft. Leased
as a Percent of
Consolidated
Portfolio (2) | | | GAAP Base
Rent as of
6/30/10
($000) (1) | | | Percent of
GAAP Base
Rent as of
6/30/10 ($000) (1) | |
| Bank of America, NA | | | 8 | | | | 691,893 | | | | 1.8 | % | | $ | 4,825 | | | | 3.1 | % |
| Baker Hughes, Inc. | | | 2 | | | | 720,221 | | | | 1.9 | % | | $ | 4,662 | | | | 3.0 | % |
| Dana Holding Corporation and Dana Limited | | | 6 | | | | 1,902,414 | | | | 5.0 | % | | $ | 4,150 | | | | 2.6 | % |
| Federal Express Corporation | | | 2 | | | | 641,286 | | | | 1.7 | % | | $ | 3,708 | | | | 2.3 | % |
| Morgan, Lewis & Bockius, LLC (3) | | | 1 | | | | 290,565 | | | | 0.8 | % | | $ | 3,321 | | | | 2.1 | % |
| Swiss Re America Holding Corporation | | | 2 | | | | 476,123 | | | | 1.3 | % | | $ | 3,299 | | | | 2.1 | % |
| CEVA Logistics U.S., Inc. (TNT Logistics Holdings, B.V.) | | | 3 | | | | 2,503,916 | | | | 6.6 | % | | $ | 3,286 | | | | 2.1 | % |
| Wells Fargo Bank, N.A. | | | 3 | | | | 354,732 | | | | 0.9 | % | | $ | 3,074 | | | | 1.9 | % |
| International Business Machines Corporation (Internet Security Systems, Inc.) | | | 2 | | | | 289,000 | | | | 0.8 | % | | $ | 2,956 | | | | 1.9 | % |
| Reckitt Benckiser, Inc. | | | 1 | | | | 186,889 | | | | 0.5 | % | | $ | 2,758 | | | | 1.7 | % |
| | | | 30 | | | | 8,057,039 | | | | 21.2 | % | | $ | 36,039 | | | | 22.8 | % |
Footnotes
| (1) | Six months ended 6/30/2010 GAAP base rent recognized for consolidated properties owned as of 6/30/2010. |
| (2) | Total shown may differ from detailed amounts due to rounding. |
| (3) | Includes parking garage operations, Lexington has an 80.5% interest in this property. |
Investor Information
| Transfer Agent | | Investor Relations |
| | | |
| BNY Mellon Shareowner Services | | Patrick Carroll |
| 480 Washington Blvd. | | Executive Vice President and Chief Financial Officer |
| Jersey City NJ 07310-1900 | | Telephone (direct) | (212) 692-7215 |
| (800) 850-3948 | | Facsimile (main) | (212) 594-6600 |
| www.bnymellon.com/shareowner/isd | | E-mail | pcarroll@lxp.com |
| Research Coverage |
| | | |
| Barclays Capital | | Morgan, Keegan & Co., Inc. |
| Ross L. Smotrich | (212) 526-2306 | | Stephen C. Swett | (212) 508-7585 |
| | | |
| Friedman, Billings, Ramsey | | Raymond James & Assoc. |
| Gabe Poggi | (703) 469-1141 | | Paul Puryear | (727) 567-2253 |
| | | |
| J.P. Morgan Chase | | Stifel Nicolaus |
| Anthony Paolone, CFA | (212) 622-6682 | | John W. Guinee | (443) 224-1307 |
| | | |
| Keefe, Bruyette & Woods | | Wells Fargo Securities, LLC |
| Sheila K. McGrath | (212) 887-7793 | | Todd J. Stender | (212) 214-8067 |
