LXP Industrial Trust (LXP) 10-Q 31 Jul 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 30, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period Ended Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-12386
Entity Registrant Name	LXP INDUSTRIAL TRUST
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	13-3717318
Entity Address, Address Line One	515 N Flagler Dr, Suite 408
Entity Address, City or Town	West Palm Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33401
City Area Code	212
Local Phone Number	692-7200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		294,340,310
Entity Central Index Key	0000910108
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Shares
Document Information [Line Items]
Title of 12(b) Security	Shares of beneficial interest, par value $0.0001 per share, classified as Common Stock
Trading Symbol	LXP
Security Exchange Name	NYSE
Series C Cumulative Convertible Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	6.50% Series C Cumulative Convertible Preferred Stock, par value $0.0001 per share
Trading Symbol	LXPPRC
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Real estate, at cost	$ 4,044,720	$ 3,774,239
Real estate - intangible assets	310,989	314,525
Land held for development	86,401	80,743
Investments in real estate under construction	84,443	319,355
Real estate, gross	4,526,553	4,488,862
Less: accumulated depreciation and amortization	983,410	904,709
Real estate, net	3,543,143	3,584,153
Assets held for sale	15,973	9,168
Right-of-use assets, net	17,251	19,342
Cash and cash equivalents	48,676	199,247
Restricted cash	226	216
Short-term investments	0	130,140
Investments in non-consolidated entities	47,120	48,495
Deferred expenses, net	37,040	35,008
Investment in a sales-type lease, net (allowance for credit loss $70 in 2024 and $61 in 2023)	64,657	63,464
Rent receivable – current	2,878	5,327
Rent receivable – deferred	84,855	80,421
Other assets	24,048	17,794
Total assets	3,885,867	4,192,775
Liabilities:
Mortgages and notes payable, net	57,551	60,124
Term loan payable, net	297,289	296,764
Senior notes payable, net	1,088,334	1,286,145
Trust preferred securities, net	127,843	127,794
Dividends payable	39,706	39,610
Liabilities held for sale	24	417
Operating lease liabilities	17,935	20,233
Accounts payable and other liabilities	63,737	57,981
Accrued interest payable	10,785	11,379
Deferred revenue - including below-market leases, net	8,506	9,428
Prepaid rent	13,645	17,443
Total liabilities	1,725,355	1,927,318
Commitments and contingencies
Equity:
Series C Cumulative Convertible Preferred, liquidation preference $96,770; 1,935,400 shares issued and outstanding	94,016	94,016
Common shares, par value $0.0001 per share; authorized 600,000,000 shares, 294,314,556 and 293,449,088 shares issued and outstanding in 2024 and 2023, respectively	29	29
Additional paid-in-capital	3,309,765	3,330,383
Accumulated distributions in excess of net income	(1,275,833)	(1,201,824)
Accumulated other comprehensive income	6,197	9,483
Total shareholders’ equity	2,134,174	2,232,087
Noncontrolling interests	26,338	33,370
Total equity	2,160,512	2,265,457
Total liabilities and equity	$ 3,885,867	$ 4,192,775

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Equity:
Sales-type lease, allowance for credit loss	$ 70	$ 61
Preferred shares, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred shares, authorized shares (in shares)	100,000,000	100,000,000
Series C Cumulative Convertible Preferred, liquidation preference	$ 96,770	$ 96,770
Series C Cumulative Convertible Preferred, shares issued (in shares)	1,935,400	1,935,400
Series C Cumulative Convertible Preferred, shares outstanding (in shares)	1,935,400	1,935,400
Common shares, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common shares, authorized shares (in shares)	600,000,000	600,000,000
Common shares, shares issued (in shares)	294,314,556	293,449,088
Common shares, outstanding (in shares)	294,314,556	293,449,088

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Gross revenues:
Rental revenue	$ 84,768	$ 85,065	$ 169,975	$ 168,482
Other revenue	1,018	1,985	2,062	3,643
Total gross revenues	85,786	87,050	172,037	172,125
Expense applicable to revenues:
Depreciation and amortization	(48,347)	(45,993)	(95,856)	(91,734)
Property operating	(15,482)	(15,745)	(30,670)	(30,988)
General and administrative	(9,248)	(9,010)	(18,741)	(18,248)
Non-operating income	2,734	143	6,503	337
Interest and amortization expense	(17,603)	(10,144)	(34,587)	(21,537)
Transaction costs	(498)	0	(498)	(4)
Impairment charges	0	(12,967)	0	(16,490)
Change in allowance for credit loss	(14)	110	(9)	31
Gains on sales of properties	8,352	0	8,352	7,879
Gain on change in control of a subsidiary	209	0	209	0
Income (loss) before provision for income taxes and equity in earnings (losses) of non-consolidated entities	5,889	(6,556)	6,740	1,371
Provision for income taxes	(83)	(210)	(208)	(426)
Equity in earnings (losses) of non-consolidated entities	(1,005)	(1,014)	(2,286)	2,590
Net income (loss)	4,801	(7,780)	4,246	3,535
Less net (income) loss attributable to noncontrolling interests	625	(268)	911	(417)
Net income attributable to LXP Industrial Trust shareholders	5,426	(8,048)	5,157	3,118
Dividends attributable to preferred shares – Series C	(1,573)	(1,573)	(3,145)	(3,145)
Allocation to participating securities	(78)	(62)	(168)	(134)
Net income (loss) attributable to common shareholders	$ 3,775	$ (9,683)	$ 1,844	$ (161)
Net income (loss) attributable to common shareholders – per common share basic (in dollars per share)	$ 0.01	$ (0.03)	$ 0.01	$ 0
Weighted-average number of common shares outstanding – basic (in shares)	291,403,985	290,186,934	291,346,184	290,134,015
Net income (loss) attributable to common shareholders – per common share diluted (in dollars per share)	$ 0.01	$ (0.03)	$ 0.01	$ 0
Weighted-average common shares outstanding – diluted (in shares)	291,615,350	291,015,537	291,451,866	290,964,350

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 4,801	$ (7,780)	$ 4,246	$ 3,535
Other comprehensive income (loss):
Change in unrealized gain (loss) on interest rate swaps, net	(2,243)	2,139	(3,344)	(1,051)
Company's share of other comprehensive income (loss) of non-consolidated entities	17	(108)	58	(438)
Other comprehensive income (loss)	(2,226)	2,031	(3,286)	(1,489)
Comprehensive income (loss)	2,575	(5,749)	960	2,046
Comprehensive (income) loss attributable to noncontrolling interests	625	(268)	911	(417)
Comprehensive income (loss) attributable to LXP Industrial Trust shareholders	$ 3,200	$ (6,017)	$ 1,871	$ 1,629

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Preferred Shares	Common Shares	Additional Paid-in-Capital	Accumulated Distributions in Excess of Net Income	Accumulated Other Comprehensive Income/(Loss)	Noncontrolling Interests
Beginning balance at Dec. 31, 2022	$ 2,391,003	$ 94,016	$ 29	$ 3,320,087	$ (1,079,087)	$ 17,689	$ 38,269
Beginning balance (in shares) at Dec. 31, 2022		1,935,400	291,719,310
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of partnership interest in real estate	296						296
Issuance of common shares and deferred compensation amortization, net	4,463			4,463
Issuance of common shares and deferred compensation amortization, net (in shares)			1,239,060
Repurchase of common shares to settle tax obligations	(2,076)			(2,076)
Repurchase of common shares to settle tax obligations (in shares)			(204,780)
Redemption of noncontrolling OP units for common shares	0			25			(25)
Redemption of noncontrolling OP units for common shares (in shares)			4,886
Forfeiture of employee common shares (in shares)			(176,547)
Dividends/distributions	(77,009)				(75,955)		(1,054)
Net income (loss)	3,535				3,118		417
Other comprehensive income (loss)	(1,051)					(1,051)
Company's share of other comprehensive income (loss) of non-consolidated entities	(438)					(438)
Ending balance at Jun. 30, 2023	2,318,723	$ 94,016	$ 29	3,322,499	(1,151,924)	16,200	37,903
Ending balance (in shares) at Jun. 30, 2023		1,935,400	292,581,929
Beginning balance at Mar. 31, 2023	2,360,762	$ 94,016	$ 29	3,320,185	(1,105,875)	14,169	38,238
Beginning balance (in shares) at Mar. 31, 2023		1,935,400	292,557,721
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of partnership interest in real estate	190						190
Issuance of common shares and deferred compensation amortization, net	2,307			2,307
Issuance of common shares and deferred compensation amortization, net (in shares)			22,894
Redemption of noncontrolling OP units for common shares	0			7			(7)
Redemption of noncontrolling OP units for common shares (in shares)			1,314
Dividends/distributions	(38,787)				(38,001)		(786)
Net income (loss)	(7,780)				(8,048)		268
Other comprehensive income (loss)	2,139					2,139
Company's share of other comprehensive income (loss) of non-consolidated entities	(108)					(108)
Ending balance at Jun. 30, 2023	2,318,723	$ 94,016	$ 29	3,322,499	(1,151,924)	16,200	37,903
Ending balance (in shares) at Jun. 30, 2023		1,935,400	292,581,929
Beginning balance at Dec. 31, 2023	2,265,457	$ 94,016	$ 29	3,330,383	(1,201,824)	9,483	33,370
Beginning balance (in shares) at Dec. 31, 2023		1,935,400	293,449,088
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of partnership interest in real estate	665						665
Purchase of noncontrolling interest in consolidated joint venture	(27,898)			(23,843)			(4,055)
Change in control of a subsidiary	(2,503)						(2,503)
Issuance of common shares and deferred compensation amortization, net	4,813			4,813
Issuance of common shares and deferred compensation amortization, net (in shares)			1,471,680
Repurchase of common shares to settle tax obligations	(1,588)			(1,588)
Repurchase of common shares to settle tax obligations (in shares)			(160,079)
Forfeiture of employee common shares (in shares)			(446,133)
Dividends/distributions	(79,394)				(79,166)		(228)
Net income (loss)	4,246				5,157		(911)
Other comprehensive income (loss)	(3,344)					(3,344)
Company's share of other comprehensive income (loss) of non-consolidated entities	58					58
Ending balance at Jun. 30, 2024	2,160,512	$ 94,016	$ 29	3,309,765	(1,275,833)	6,197	26,338
Ending balance (in shares) at Jun. 30, 2024		1,935,400	294,314,556
Beginning balance at Mar. 31, 2024	2,220,514	$ 94,016	$ 29	3,327,682	(1,241,595)	8,423	31,959
Beginning balance (in shares) at Mar. 31, 2024		1,935,400	294,289,569
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of partnership interest in real estate	201						201
Purchase of noncontrolling interest in consolidated joint venture	(22,988)			(20,447)			(2,541)
Change in control of a subsidiary	(2,503)						(2,503)
Issuance of common shares and deferred compensation amortization, net	2,530			2,530
Issuance of common shares and deferred compensation amortization, net (in shares)			24,987
Dividends/distributions	(39,817)				(39,664)		(153)
Net income (loss)	4,801				5,426		(625)
Other comprehensive income (loss)	(2,243)					(2,243)
Company's share of other comprehensive income (loss) of non-consolidated entities	17					17
Ending balance at Jun. 30, 2024	$ 2,160,512	$ 94,016	$ 29	$ 3,309,765	$ (1,275,833)	$ 6,197	$ 26,338
Ending balance (in shares) at Jun. 30, 2024		1,935,400	294,314,556

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends/distributions (in dollars per share)	$ 0.13	$ 0.125	$ 0.26	$ 0.25

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Cash Flows [Abstract]
Net cash provided by operating activities:	$ 77,369	$ 92,644
Cash flows from investing activities:
Investment in real estate under construction	(58,812)	(62,650)
Capital expenditures	(3,696)	(7,910)
Net proceeds from sale of properties	15,493	27,338
Principal payments on loans receivable	0	1,462
Investments in non-consolidated entities	(699)	(485)
Distributions from non-consolidated entities in excess of accumulated earnings	2,155	5,536
Deferred leasing costs	(2,759)	(1,808)
Maturity of held-to-maturity securities	130,000	0
Change in real estate deposits, net	378	(364)
Net cash provided by (used) in investing activities	82,060	(38,881)
Cash flows from financing activities:
Dividends to common and preferred shareholders	(79,070)	(76,112)
Principal amortization payments	(2,663)	(5,893)
Revolving credit facility borrowings	0	50,000
Revolving credit facility payments	0	(50,000)
Repurchase of senior notes	(198,932)	0
Cash contributions from noncontrolling interests	665	296
Cash distributions to noncontrolling interests	(228)	(1,054)
Purchase of noncontrolling interests	(27,873)	0
Issuance of common shares, net of costs and repurchases to settle tax obligations	(1,889)	(2,221)
Net cash used in financing activities	(309,990)	(84,984)
Change in cash, cash equivalents and restricted cash	(150,561)	(31,221)
Cash, cash equivalents and restricted cash, at beginning of period	199,463	54,506
Cash, cash equivalents and restricted cash, at end of period	48,902	23,285
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents at beginning of period	199,247	54,390
Restricted cash at beginning of period	216	116
Cash and cash equivalents at end of period	48,676	23,161
Restricted cash at end of period	$ 226	$ 124

The Company and Financial State

The Company and Financial Statement Presentation	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Financial Statement Presentation	The Company and Financial Statement Presentation LXP Industrial Trust (together with its consolidated subsidiaries, except when the context only applies to the parent entity, the “Company”) is a Maryland real estate investment trust (“REIT”) that owns a portfolio of equity investments focused on Class A warehouse and distribution real estate investments. As of June 30, 2024, the Company had ownership interests in approximately 117 consolidated real estate properties, located in 17 states. The properties in which the Company has an interest are primarily net leased to tenants in various industries. The Company believes it has qualified as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). Accordingly, the Company will not be subject to federal income tax, provided that distributions to its shareholders equal at least the amount of its REIT taxable income as defined under the Code. The Company is permitted to participate in certain activities from which it was previously precluded in order to maintain its qualification as a REIT, so long as these activities are conducted in entities which elect to be treated as taxable REIT subsidiaries (“TRS”) under the Code. As such, the TRS are subject to federal income taxes on the income from these activities. The Company conducts its operations indirectly through (1) property owner subsidiaries, which are single purpose entities, (2) a wholly-owned TRS, Lexington Realty Advisors, Inc., and (3) joint ventures. Property owner subsidiaries are landlords under leases for properties in which the Company has an interest and/or borrowers under loan agreements secured by properties in which the Company has an interest and lender subsidiaries are lenders under loan agreements where the Company made an investment in a loan asset, but in all cases are separate and distinct legal entities. Each property owner subsidiary is a separate legal entity that maintains separate books and records. The assets and credit of each property owner subsidiary with a property subject to a mortgage loan are not available to creditors to satisfy the debt and other obligations of any other person, including any other property owner subsidiary or any other affiliate. Consolidated entities that are not property owner subsidiaries do not directly own any of the assets of a property owner subsidiary (or the general partner, member or managing member of such property owner subsidiary), but merely hold partnership, membership or beneficial interests therein, which interests are subordinate to the claims of such property owner subsidiary's (or its general partner's, member's or managing member's) creditors. The unaudited condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q (this “Quarterly Report”) for the three and six months ended June 30, 2024 have been prepared by the Company in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all information and footnotes required by GAAP for complete financial statements. However, in the opinion of management, the interim financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results of the periods presented. Interim results are not necessarily indicative of the results that may be expected for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 15, 2024 (“Annual Report”). Basis of Presentation and Consolidation. The Company's unaudited condensed consolidated financial statements are prepared on the accrual basis of accounting in accordance with GAAP. The financial statements reflect the accounts of the Company and its consolidated subsidiaries. The Company consolidates wholly-owned subsidiaries, partnerships and joint ventures which it controls (i) through voting rights or similar rights or (ii) by means other than voting rights if the Company is the primary beneficiary of a variable interest entity ("VIE"). Entities which the Company does not control and entities which are VIEs in which the Company is not a primary beneficiary are accounted for under appropriate GAAP. As of June 30, 2024, the Company had interests in five consolidated joint ventures with developers, consisting of three development projects and two land joint ventures with ownership interests ranging from 80% to 95.5%. Each joint venture acquired land parcels for industrial development. The Company determined that the joint ventures are variable interest entities in accordance with the applicable accounting guidance. The Company concluded that it is the primary beneficiary in each of the joint ventures and as such, the joint ventures' operations are consolidated in the Company’s unaudited condensed consolidated financial statements. The assets of each VIE are only available to satisfy such VIE's respective liabilities. Below is a summary of selected financial data of consolidated VIEs for which the Company is the primary beneficiary included in the unaudited condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Real estate, net $ 384,422 $ 535,118 Total assets $ 460,804 $ 626,442 Total liabilities $ 6,882 $ 19,549 Use of Estimates. Management has made a number of significant estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses to prepare these unaudited condensed consolidated financial statements in conformity with GAAP. These estimates and assumptions are based on management's best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Management adjusts such estimates when facts and circumstances dictate. The most significant estimates made include the recoverability of current and deferred accounts receivable, allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed, the determination of VIEs and which entities should be consolidated, the determination of impairment of long-lived assets and equity method investments, valuation of derivative financial instruments, valuation of awards granted under compensation plans, the determination of the incremental borrowing rate for leases where the Company is the lessee, the determination of the term and fair value of sales-type leases, the estimated credit losses for investments in sales-type leases and the useful lives of long-lived assets. Actual results could differ materially from those estimates. Reclassifications . Certain amounts included in the 2023 unaudited condensed consolidated financial statements have been reclassified to conform to the 2024 presentation. Recently Issued Accounting Guidance . In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within the segment measure of profit or loss, an amount and description of its composition for other segment items to reconcile to segment profit or loss, and the title and position of the entity's CODM. ASU 2023-07 will be effective retrospectively for fiscal years beginning after December 15, 2023 and interim periods beginning after December 15, 2024. The Company will continue to evaluate the impact of the guidance on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures that requires public companies to annually (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than five percent of the amount computed by multiplying pretax income or loss by the applicable statutory income tax rate). The ASU is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of the guidance until it becomes effective. In March 2024, the U.S. Securities and Exchange Commission ("SEC") adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors. This rule will require registrants to disclose certain climate-related information in registration statements and annual reports. In April 2024, the SEC voluntarily stayed the effectiveness of the new rules pending related litigation. If the stay is lifted and the effective times are unchanged, certain of the disclosure requirements will begin to apply to the Company's fiscal year beginning January 1, 2025. The Company is currently evaluating the final rule to determine its impact on the Company's disclosures.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share A portion of the Company's non-vested share-based payment awards are considered participating securities and as such, the Company is required to use the two-class method for the computation of basic and diluted earnings per share. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The non-vested share-based payment awards are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 BASIC Net income (loss) attributable to common shareholders $ 3,775 $ (9,683) $ 1,844 $ (161) Weighted-average number of common shares outstanding - basic 291,403,985 290,186,934 291,346,184 290,134,015 Net income (loss) attributable to common shareholders - per common share basic $ 0.01 $ (0.03) $ 0.01 $ — DILUTED Net income (loss) attributable to common shareholders - basic $ 3,775 $ (9,683) $ 1,844 $ (161) Impact of assumed conversions — (81) — (77) Net income (loss) attributable to common shareholders $ 3,775 $ (9,764) $ 1,844 $ (238) Weighted-average common shares outstanding - basic 291,403,985 290,186,934 291,346,184 290,134,015 Effect of dilutive securities: Unvested share-based payment awards 211,365 — 105,682 — Operating partnership units — 828,603 — 830,335 Weighted-average common shares outstanding - diluted 291,615,350 291,015,537 291,451,866 290,964,350 Net income (loss) attributable to common shareholders - per common share diluted $ 0.01 $ (0.03) $ 0.01 $ — For per common share amounts, generally all incremental shares are considered anti-dilutive for periods that have a loss from continuing operations attributable to common shareholders. In addition, other common share equivalents may be anti-dilutive in certain periods. Calculation of dilutive earnings requires certain potentially dilutive shares to be excluded when the inclusion of such shares would be anti-dilutive. The following table summarizes the potentially dilutive shares excluded from the dilutive earnings per share calculation as the inclusion of such shares would be anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Unvested share-based payment awards — 135,172 — 131,522 Preferred shares - Series C 4,710,570 4,710,570 4,710,570 4,710,570

Investments in Real Estate

Investments in Real Estate	6 Months Ended
	Jun. 30, 2024
Real Estate [Abstract]
Investments in Real Estate	Investments in Real Estate The Company placed in service the following warehouse/distribution facilities during the six months ended June 30, 2024: Market (% owned) Placed in Service Date Initial Cost Basis (1) Lease Land Building and Improvements Phoenix, AZ (100%) February 2024 $ 52,767 01/2031 $ 9,449 $ 43,318 Central Florida (80%) (2) February 2024 80,825 N/A 10,618 70,207 Indianapolis, IN (80%) (2) February 2024 64,285 N/A 5,126 59,159 Greenville/Spartanburg, SC (90%) (2) April 2024 73,414 N/A 6,765 66,649 Central Florida (100%) (2) June 2024 19,021 N/A 4,493 14,528 $ 290,312 $ 36,451 $ 253,861 (1) Initial cost basis excludes certain remaining costs, such as tenant improvements, lease costs and developer incentive fees or partner promotes, if any. (2) The warehouse/distribution facility was placed in service vacant one year after the completion of base building construction in accordance with the Company's policy. As of June 30, 2024, the details of the development arrangements outstanding are as follows (in $000's, except square feet): Project (% owned) # of Buildings Market Estimated Sq. Ft. Estimated Project Cost (1) GAAP Investment Balance as of 6/30/2024 (2) LXP Amount Funded as of 6/30/2024 Actual/Estimated Base Building Completion Date % Leased as of 6/30/2024 Build-to-Suit Development Projects Leased Piedmont (100%) (3) 1 Greenville/Spartanburg, SC 625,238 $ 74,400 $ 48,578 $ 34,540 4Q 2024 100 % Development Projects Available for Lease (4) South Shore Building B (100%) (5) 1 Central Florida 80,983 $ 12,700 $ 12,122 $ 11,919 3Q 2023 — % Etna Building D (100%) 1 Columbus, OH 250,020 30,200 23,743 25,021 1Q 2024 — % 2 331,003 $ 42,900 $ 35,865 $ 36,940 3 956,241 $ 117,300 $ 84,443 $ 71,480 (1) Excludes leasing costs, incomplete costs, and developer incentive fees or partner promotes, if any. (2) Excludes leasing costs and incomplete costs. (3) During the six months ended June 30, 2024, the Company acquired a 59.1 acre land parcel for a purchase price of $3,416 and commenced construction of a build-to-suit warehouse/distribution facility subject to a 12-year lease, which is estimated to commence January 2025. (4) Estimated project cost excludes potential developer incentive fees or partner promotes, if any. (5) During the fourth quarter of 2023, a 57,690 square foot portion of the project, representing 42% of the facility was occupied by a tenant and placed in service. As of June 30, 2024, the Company's aggregate investment in the ongoing development arrangements was $84,443. This amount included capitalized interest of $869 for the six months ended June 30, 2024 and is presented as investments in real estate under construction in the accompanying unaudited condensed consolidated balance sheet. For the six months ended June 30, 2023, capitalized interest for development arrangements was $5,194. As of June 30, 2024, the details of the land held for industrial development are as follows (in $000's, except acres): Project (% owned) Market Approx. Developable Acres GAAP Investment Balance as of 6/30/2024 LXP Amount Funded as of 6/30/2024 (1) Reems & Olive (95.5%) Phoenix, AZ 315 $ 79,338 $ 74,610 Mt. Comfort Phase II (80%) Indianapolis, IN 116 5,331 4,295 ATL Fairburn JV (100%) Atlanta, GA 14 1,732 1,757 445 $ 86,401 $ 80,662 (1) Excludes noncontrolling interests' share.

Dispositions and Impairment

Dispositions and Impairment	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Dispositions and Impairment	Dispositions and Impairment During the six months ended June 30, 2024 and 2023, the Company disposed of its interests in various properties for a gross disposition price of $15,750 and $27,910, respectively, and recognized gains on sale of properties of $8,352 and $7,879, respectively. The Company had one and two properties classified as held for sale at June 30, 2024 and December 31, 2023, respectively. Assets and liabilities of the held for sale properties at June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 Assets: Real estate, at cost $ 26,758 $ 9,018 Real estate, intangible assets 3,536 — Accumulated depreciation and amortization (14,452) — Other 131 150 $ 15,973 $ 9,168 Liabilities: Accounts payable and other liabilities $ 24 $ 5 Deferred revenue — 53 Prepaid rent — 359 $ 24 $ 417 The Company assesses on a regular basis whether there are any indicators that the carrying value of its real estate assets may be impaired. Potential indicators may include an increase in vacancy at a property, tenant financial instability, change in the estimated holding period of the asset, the potential sale or transfer of the property in the near future and changes in economic conditions. An asset is determined to be impaired if the asset's carrying value is in excess of its estimated fair value and the Company estimates that its cost will not be recovered.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables present the Company's assets and liabilities measured at fair value on a recurring and non-recurring basis as of June 30, 2024 and December 31, 2023, aggregated by the level in the fair value hierarchy within which those measurements fall: Balance Fair Value Measurements Using Description June 30, 2024 (Level 1) (Level 2) (Level 3) Interest rate swap assets $ 6,128 $ — $ 6,128 $ — Balance Fair Value Measurements Using Description December 31, 2023 (Level 1) (Level 2) (Level 3) Interest rate swap assets $ 9,471 $ — $ 9,471 $ — Impaired assets held for sale (1) $ 9,170 $ — $ — $ 9,170 (1) The Company estimated the fair value of certain real estate assets throughout the year based on a discounted cash flow analysis using a discount rate of 10.0% and a residual capitalization rate of 8.0%. As significant inputs to the models are unobservable, the Company determined that the value determined for these properties falls within Level 3 of the fair value reporting hierarchy. The majority of the inputs used to value the Company's interest rate swaps fall within Level 2 of the fair value hierarchy, such as observable market interest rate curves; however, the credit valuation associated with the interest rate swaps utilizes Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties. As of June 30, 2024 and December 31, 2023, the Company determined that the credit valuation adjustment relative to the overall interest rate swaps was not significant. As a result, all interest rate swaps have been classified in Level 2 of the fair value hierarchy. The table below sets forth the carrying amounts and estimated fair values of the Company's financial instruments, as of June 30, 2024 and December 31, 2023: As of June 30, 2024 As of December 31, 2023 Carrying Fair Value Carrying Fair Value Assets Investment in a sales-type lease, net $ 64,657 $ 72,280 $ 63,464 $ 62,500 Liabilities Debt $ 1,571,017 $ 1,434,209 $ 1,770,827 $ 1,630,066 The fair value of the Company's investment in a sales-type lease, net is primarily estimated utilizing Level 3 inputs by using a discounted cash flow analysis and an estimate of the unguaranteed residual value. The fair value of the Company's debt is primarily estimated utilizing Level 3 inputs by using a discounted cash flow analysis, based upon estimates of market interest rates. The Company determines the fair value of its Senior Notes using market prices. The inputs used in determining the fair value of these notes are categorized as Level 1 due to the fact that the Company uses quoted market rates to value these instruments. However, the inputs used in determining the fair value could be categorized as Level 2 if trading volumes are low. Fair values cannot be determined with precision, may not be substantiated by comparison to quoted prices in active markets and may not be realized upon sale. Additionally, there are inherent uncertainties in any fair value measurement technique, and changes in the underlying assumptions used, including discount rates, liquidity risks and estimates of future cash flows, could significantly affect the fair value measurement amounts. Cash Equivalents, Restricted Cash, Accounts Receivable and Accounts Payable. The Company estimates that the fair value of cash equivalents, restricted cash, accounts receivable and accounts payable approximates carrying value due to the relatively short maturity of the instruments.

Investments in Non-Consolidated

Investments in Non-Consolidated Entities	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Investments in Non-Consolidated Entities	Investments in Non-Consolidated Entities Below is a schedule of the Company's investments in non-consolidated entities: Percentage Ownership at Investment Balance as of Equity in earnings (losses) of non-consolidated entities Investment June 30, 2024 June 30, 2024 December 31, 2023 June 30, 2024 June 30, 2023 NNN MFG Cold JV L.P. ("MFG Cold JV") (1) 20% $ 16,464 $ 19,693 $ (1,986) $ (1,597) NNN Office JV L.P. ("NNN JV") (2) 20% 16,363 16,237 (74) (263) Etna Park 70, LLC (3) 90% 9,685 10,320 (134) (86) Etna Park East LLC (4) 90% 2,297 2,245 (92) (72) BSH Lessee L.P. (5) 25% — — — 4,608 Lombard Street Lots, LLC (6) 44.1% 2,311 — — — $ 47,120 $ 48,495 $ (2,286) $ 2,590 (1) MFG Cold JV is a joint venture formed in 2021 that owns special purpose industrial properties formerly owned by the Company. (2) NNN JV is a joint venture formed in 2018 that owns office properties formerly owned by the Company. During the six months ended June 30, 2024, NNN JV sold one asset and the Company recognized its share of gains on sale and debt satisfaction costs of $283 and $3, respectively, within equity in earnings (losses) of non-consolidated entities within its unaudited condensed consolidated statements of operations. (3) Joint venture formed in 2017 with a developer entity to acquire a parcel of land. (4) Joint venture formed in 2019 with a developer entity to acquire a parcel of land. (5) A joint venture investment which sold its sole single-tenant, net-leased asset in January 2023 and the Company recognized its share of the gain on sale of $4,791 within equity in earnings (losses) of non-consolidated entities within its unaudited condensed consolidated statements of operations. (6) In June 2024, the Company determined it no longer controlled and ceased to consolidate the operations of Lombard Street Lots, LLC in its unaudited condensed consolidated financial statements, as a result of an amendment to the LLC agreement. The Company retained significant influence over Lombard Street Lots, LLC and accounted for its interest under the equity method of accounting. The Company recognized a gain on change in control of a subsidiary as a result of the deconsolidation of $209 and recorded its equity method investment in Lombard Street Lots, LLC at a fair value of $2,311. The total assets and liabilities deconsolidated were $4,608 and $4, respectively. The Company earns advisory fees from certain of these non-consolidated entities for services related to acquisitions, asset management and debt placement. Advisory fees earned from these non-consolidated investments for the six months ended June 30, 2024 and 2023 were $2,062 and $2,208, respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The Company had the following mortgages and notes payable outstanding as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Mortgages and notes payable $ 58,225 $ 60,888 Unamortized debt issuance costs (674) (764) Mortgage notes payable, net $ 57,551 $ 60,124 Interest rates, including imputed rates on mortgages and notes payable, ranged from 3.5% to 4.3%, at June 30, 2024 and December 31, 2023 and all mortgages and notes payable mature between 2028 and 2031 as of June 30, 2024. The weighted-average interest rate at June 30, 2024 and December 31, 2023 was approximately 4.0%, respectively. The Company had the following senior notes outstanding as of June 30, 2024 and December 31, 2023: Issue Date June 30, 2024 December 31, 2023 Interest Rate Maturity Date Issue Price May 2014 (1) $ — $ 198,932 4.400 % June 2024 99.883 % November 2023 300,000 300,000 6.750 % November 2028 99.423 % August 2020 400,000 400,000 2.700 % September 2030 99.233 % August 2021 400,000 400,000 2.375 % October 2031 99.758 % 1,100,000 1,298,932 Unamortized debt discount (4,106) (4,489) Unamortized debt issuance costs (7,560) (8,298) Senior notes payable, net $ 1,088,334 $ 1,286,145 (1) The Company repaid the 4.40% Senior Notes due 2024 at maturity. Each series of the senior notes is unsecured and require payment of interest semi-annually in arrears. The Company may redeem the notes at its option at any time prior to maturity in whole or in part by paying the principal amount of the notes being redeemed plus any potential make-whole premium. The Company has an unsecured credit agreement with KeyBank National Association, as agent. The maturity dates and interest rates as of June 30, 2024, are as follows: Maturity Date Interest Rate $600,000 Revolving Credit Facility (1) July 2026 SOFR + 0.85% $300,000 Term Loan (2) January 2027 Term SOFR + 1.00% (1) Maturity date of the revolving credit facility can be extended to July 2027, subject to certain conditions. The interest rate includes a 0.10% adjustment. The interest rate spread ranges from 0.725% to 1.400%, and the revolving credit facility allows for further reductions upon the achievement of to-be-determined sustainability metrics. At June 30, 2024, the Company had no borrowings outstanding and availability of $600,000, subject to covenant compliance. (2) The Term SOFR portion of the interest rate was swapped to obtain a current fixed rate of 2.722% per annum, until January 31, 2025. The aggregate unamortized debt issuance costs for the term loan was $2,711 and $3,236 as of June 30, 2024 and December 31, 2023, respectively. The Company was compliant with all applicable financial covenants contained in its corporate-level debt agreements at June 30, 2024. During 2007, the Company issued $200,000 original principal amount of Trust Preferred Securities. The Trust Preferred Securities, which are classified as debt, are due in 2037, are open for redemption at the Company's option and bear interest at a variable rate of three-month SOFR plus a 0.26% adjustment plus a spread of 170 basis points through maturity. The interest rate at June 30, 2024 was 7.291%. As of June 30, 2024 and December 31, 2023, there was $129,120 original principal amount of Trust Preferred Securities outstanding and $1,277 and $1,326, respectively, of unamortized debt issuance costs. The Company capitalized $2,687 and $5,436 of interest expense for the six months ended June 30, 2024 and 2023, respectively.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities Risk Management Objective of Using Derivatives . The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the type, amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company's derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company's known or expected cash receipts and its known or expected cash payments principally related to the Company's investments and borrowings. Cash Flow Hedges of Interest Rate Risk . The Company's objectives in using interest rate derivatives are to add stability to interest expense, to manage its exposure to interest rate movements and therefore manage its cash outflows as it relates to the underlying debt instruments. To accomplish these objectives, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy relating to certain of its variable rate debt instruments. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The Company did not incur any ineffectiveness during the six months ended June 30, 2024 and 2023. During July 2022, the Company transitioned its four interest rate swap agreements with its counterparties to a benchmark rate of Term SOFR. The swaps were designated as cash flow hedges of the risk in variability attributable to changes in the Term SOFR swap rates on its $300,000 SOFR-indexed variable rate unsecured term loan. Accordingly, changes in fair value of the swaps are recorded in other comprehensive income (loss) and reclassified to earnings as interest becomes receivable or payable. The swaps expire in January 2025. During the next 12 months, the Company estimates that an additional $6,128 will be reclassified as a decrease in interest expense if the swaps remain outstanding. As of June 30, 2024, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: Interest Rate Derivative Number of Instruments Notional Interest Rate Swaps 4 $300,000 The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the unaudited condensed consolidated balance sheets: As of June 30, 2024 As of December 31, 2023 Derivatives designated as hedging instruments: Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest Rate Swaps Other Assets $ 6,128 Other Assets $ 9,471 The table below presents the effect of the Company's derivative financial instruments on the unaudited condensed consolidated statements of operations for the six months ended June 30, 2024 and 2023: Derivatives in Cash Flow Amount of Gain Amount of (Income) Loss Reclassified from Accumulated OCI into Income (1) June 30, Hedging Relationships 2024 2023 2024 2023 Interest Rate Swaps $ 2,279 $ 3,668 $ (5,623) $ (4,719) The Company's share of non-consolidated entity's interest rate cap 220 220 (162) (658) Total $ 2,499 $ 3,888 $ (5,785) $ (5,377) (1) Amounts reclassified from accumulated other comprehensive income (loss) to interest expense within the unaudited condensed consolidated statements of operations. Total interest expense presented in the unaudited condensed consolidated statements of operations, in which the effects of cash flow hedges are recorded was $34,587 and $21,537 for the six months ended June 30, 2024 and 2023, respectively.

Lease Accounting

Lease Accounting	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Lease Accounting	Lease Accounting Lessor Operating Leases. The Company’s lease portfolio as a lessor primarily includes general purpose, single-tenant net-leased real estate assets. Most of the Company’s leases require tenants to pay fixed annual rental payments that escalate on an annual basis and variable payments for other operating expenses, such as real estate taxes, insurance, common area maintenance ("CAM"), and utilities, that are based on the actual expenses incurred. Certain leases allow for the tenant to renew the lease term upon expiration or earlier. Periods covered by a renewal option are included within the lease term only when renewals are deemed to be reasonably certain. Certain leases allow for the tenant to terminate the lease before the expiration of the lease term and certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price upon expiration of the lease term or before. Accounting guidance under ASC 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease and determining the lease term when the contract has renewal, purchase or early termination provisions. The Company analyzes its accounts receivable, customer creditworthiness and current economic trends when evaluating the adequacy of the collectability of the lessee's total accounts receivable balance on a lease by lease basis. In addition, tenants in bankruptcy are analyzed and considerations are made in connection with the expected pre-petition and post-petition claims. If a lessee's accounts receivable balance is considered uncollectible, the Company will write-off the receivable balances associated with the lease to rental revenue and cease to recognize lease income, including straight-line rent, unless cash is received. If the Company subsequently determines that it is probable it will collect substantially all of the lessee's remaining lease payments under the lease term; the Company will reinstate the straight-line balance adjusting for the amount related to the period when the lease was accounted for on a cash basis. The Company elected that the lease and non-lease components in its leases are a single lease component, which is, therefore, being recognized as rental revenue in its unaudited condensed consolidated statements of operations. The primary non-lease service included within rental revenue is CAM services provided as part of the Company’s real estate leases. ASC 842 requires that the Company capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. For the six months ended June 30, 2024 and 2023, the Company did not incur any costs that were not incremental to the execution of leases. The Company manages the risk associated with the residual value of its leased properties by including contract clauses that make tenants responsible for surrendering the space in good condition upon lease termination, holding a diversified portfolio, and other activities . The Company does not have residual value guarantees on specific properties. Sales-Type Leases. As of June 30, 2024, the Company had one lease that qualified as a sales-type lease. The Company has one ground lease for a 100-acre industrial development land parcel located in the Phoenix, Arizona market that is classified as a sales-type lease. At the commencement date of the lease, the Company evaluated the lease classification and classified the lease as a sales-type lease. The lease contains a purchase option in the amount of $20.00 per land square foot starting on the second anniversary date of the lease (November 2024) and ending on the third anniversary date (November 2025). The Company determined that the purchase option was not reasonably certain of being exercised. The lease met the sales-type lease criteria because the present value of the lease payments was equal to substantially all of the fair value of the underlying asset on the lease commencement date. Rental Revenue Classification. The following table presents the Company’s classification of rental revenue for its operating leases and sales-type lease for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, Classification 2024 2023 2024 2023 Fixed $ 69,748 $ 69,049 $ 139,760 $ 137,136 Sales-type lease income 1,917 1,848 3,816 3,681 Variable (1) 13,103 14,168 26,399 27,665 Total $ 84,768 $ 85,065 $ 169,975 $ 168,482 (1) Primarily comprised of tenant reimbursements. Future fixed rental receipts for operating and sales-type leases, assuming no new or re-negotiated leases as of June 30, 2024 were as follows: Operating Sales-Type 2024 - remainder $ 136,494 $ 2,648 2025 270,138 5,473 2026 255,230 5,692 2027 220,623 5,920 2028 186,951 6,156 2029 160,456 6,403 Thereafter 447,527 726,604 Total $ 1,677,419 $ 758,896 Difference between undiscounted cash flow and present value (694,169) Investment in a sales-type lease $ 64,727 The minimum lease payments above do not include reimbursements to be received from tenants for certain operating expenses and real estate taxes and do not include early termination payments provided for in certain leases, unless such payments are reasonably certain to be received. Certain leases allow for the tenant to terminate the lease if the property is deemed obsolete, as defined, and upon payment of a termination fee to the landlord, as stipulated in the lease. In addition, certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price. Lessee The Company, as lessee, has ground leases, corporate leases for office space, and office equipment leases. All leases were classified as operating leases as of June 30, 2024. The leases have remaining lease terms of up to 33 years. Renewal periods are included in the lease term only when renewal is deemed to be reasonably certain. The lease term also includes periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the termination option. The Company measures its lease payments by including fixed rental payments and variable rental payments that tie to an index or a rate, such as CPI. The Company recognizes lease expense for its operating leases on a straight-line basis over the lease term and variable lease expense not included in the lease payment measurement as incurred. The accounting guidance under ASC 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease, determining the term of a lease when the contract has renewal or termination provisions and determining the discount rate. The Company determines whether an arrangement is or includes a lease at contract inception by evaluating whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If the Company has the right to obtain substantially all of the economic benefits from and can direct the use of, the identified asset for a period of time, the Company accounts for the contract as a lease. The Company uses the information available at the lease commencement date to determine the discount rate for any new leases. The Company used a portfolio approach to determine its incremental borrowing rate. Lease contracts were grouped based on similar lease terms and economic environments in a manner in which the Company reasonably expects that the outcome from applying a portfolio approach does not differ materially from an individual lease approach. The Company estimated a collateralized discount rate for each portfolio of leases. Supplemental information related to operating leases is as follows: Six Months Ended June 30, 2024 June 30, 2023 Weighted-average remaining lease term Operating leases (years) 8.6 9.2 Weighted-average discount rate Operating leases 4.1 % 4.1 % The components of lease expense for the six months ended June 30, 2024 and 2023 were as follows: Income Statement Classification Fixed Variable Total 2024: Property operating $ 1,756 $ 15 $ 1,771 General and administrative (1) 788 124 912 Total $ 2,544 $ 139 $ 2,683 2023: Property operating $ 1,771 $ 7 $ 1,778 General and administrative 767 151 918 Total $ 2,538 $ 158 $ 2,696 (1) The general and administrative lease expense excludes a reduction of $267 to lease expense for the sublease of the Company's office space in New York, New York. The Company recognized sublease income related to its ground leases in rental revenue of $1,660 for each of the six months ended June 30, 2024 and 2023. The following table shows the Company's maturity analysis of its operating lease liabilities as of June 30, 2024: Operating Leases 2024 - remainder $ 2,489 2025 5,174 2026 4,144 2027 3,643 2028 1,031 2029 193 Thereafter 5,287 Total lease payments $ 21,961 Less: Imputed interest (4,026) Present value of lease liabilities $ 17,935
Lease Accounting	Lease Accounting Lessor Operating Leases. The Company’s lease portfolio as a lessor primarily includes general purpose, single-tenant net-leased real estate assets. Most of the Company’s leases require tenants to pay fixed annual rental payments that escalate on an annual basis and variable payments for other operating expenses, such as real estate taxes, insurance, common area maintenance ("CAM"), and utilities, that are based on the actual expenses incurred. Certain leases allow for the tenant to renew the lease term upon expiration or earlier. Periods covered by a renewal option are included within the lease term only when renewals are deemed to be reasonably certain. Certain leases allow for the tenant to terminate the lease before the expiration of the lease term and certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price upon expiration of the lease term or before. Accounting guidance under ASC 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease and determining the lease term when the contract has renewal, purchase or early termination provisions. The Company analyzes its accounts receivable, customer creditworthiness and current economic trends when evaluating the adequacy of the collectability of the lessee's total accounts receivable balance on a lease by lease basis. In addition, tenants in bankruptcy are analyzed and considerations are made in connection with the expected pre-petition and post-petition claims. If a lessee's accounts receivable balance is considered uncollectible, the Company will write-off the receivable balances associated with the lease to rental revenue and cease to recognize lease income, including straight-line rent, unless cash is received. If the Company subsequently determines that it is probable it will collect substantially all of the lessee's remaining lease payments under the lease term; the Company will reinstate the straight-line balance adjusting for the amount related to the period when the lease was accounted for on a cash basis. The Company elected that the lease and non-lease components in its leases are a single lease component, which is, therefore, being recognized as rental revenue in its unaudited condensed consolidated statements of operations. The primary non-lease service included within rental revenue is CAM services provided as part of the Company’s real estate leases. ASC 842 requires that the Company capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. For the six months ended June 30, 2024 and 2023, the Company did not incur any costs that were not incremental to the execution of leases. The Company manages the risk associated with the residual value of its leased properties by including contract clauses that make tenants responsible for surrendering the space in good condition upon lease termination, holding a diversified portfolio, and other activities . The Company does not have residual value guarantees on specific properties. Sales-Type Leases. As of June 30, 2024, the Company had one lease that qualified as a sales-type lease. The Company has one ground lease for a 100-acre industrial development land parcel located in the Phoenix, Arizona market that is classified as a sales-type lease. At the commencement date of the lease, the Company evaluated the lease classification and classified the lease as a sales-type lease. The lease contains a purchase option in the amount of $20.00 per land square foot starting on the second anniversary date of the lease (November 2024) and ending on the third anniversary date (November 2025). The Company determined that the purchase option was not reasonably certain of being exercised. The lease met the sales-type lease criteria because the present value of the lease payments was equal to substantially all of the fair value of the underlying asset on the lease commencement date. Rental Revenue Classification. The following table presents the Company’s classification of rental revenue for its operating leases and sales-type lease for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, Classification 2024 2023 2024 2023 Fixed $ 69,748 $ 69,049 $ 139,760 $ 137,136 Sales-type lease income 1,917 1,848 3,816 3,681 Variable (1) 13,103 14,168 26,399 27,665 Total $ 84,768 $ 85,065 $ 169,975 $ 168,482 (1) Primarily comprised of tenant reimbursements. Future fixed rental receipts for operating and sales-type leases, assuming no new or re-negotiated leases as of June 30, 2024 were as follows: Operating Sales-Type 2024 - remainder $ 136,494 $ 2,648 2025 270,138 5,473 2026 255,230 5,692 2027 220,623 5,920 2028 186,951 6,156 2029 160,456 6,403 Thereafter 447,527 726,604 Total $ 1,677,419 $ 758,896 Difference between undiscounted cash flow and present value (694,169) Investment in a sales-type lease $ 64,727 The minimum lease payments above do not include reimbursements to be received from tenants for certain operating expenses and real estate taxes and do not include early termination payments provided for in certain leases, unless such payments are reasonably certain to be received. Certain leases allow for the tenant to terminate the lease if the property is deemed obsolete, as defined, and upon payment of a termination fee to the landlord, as stipulated in the lease. In addition, certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price. Lessee The Company, as lessee, has ground leases, corporate leases for office space, and office equipment leases. All leases were classified as operating leases as of June 30, 2024. The leases have remaining lease terms of up to 33 years. Renewal periods are included in the lease term only when renewal is deemed to be reasonably certain. The lease term also includes periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the termination option. The Company measures its lease payments by including fixed rental payments and variable rental payments that tie to an index or a rate, such as CPI. The Company recognizes lease expense for its operating leases on a straight-line basis over the lease term and variable lease expense not included in the lease payment measurement as incurred. The accounting guidance under ASC 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease, determining the term of a lease when the contract has renewal or termination provisions and determining the discount rate. The Company determines whether an arrangement is or includes a lease at contract inception by evaluating whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If the Company has the right to obtain substantially all of the economic benefits from and can direct the use of, the identified asset for a period of time, the Company accounts for the contract as a lease. The Company uses the information available at the lease commencement date to determine the discount rate for any new leases. The Company used a portfolio approach to determine its incremental borrowing rate. Lease contracts were grouped based on similar lease terms and economic environments in a manner in which the Company reasonably expects that the outcome from applying a portfolio approach does not differ materially from an individual lease approach. The Company estimated a collateralized discount rate for each portfolio of leases. Supplemental information related to operating leases is as follows: Six Months Ended June 30, 2024 June 30, 2023 Weighted-average remaining lease term Operating leases (years) 8.6 9.2 Weighted-average discount rate Operating leases 4.1 % 4.1 % The components of lease expense for the six months ended June 30, 2024 and 2023 were as follows: Income Statement Classification Fixed Variable Total 2024: Property operating $ 1,756 $ 15 $ 1,771 General and administrative (1) 788 124 912 Total $ 2,544 $ 139 $ 2,683 2023: Property operating $ 1,771 $ 7 $ 1,778 General and administrative 767 151 918 Total $ 2,538 $ 158 $ 2,696 (1) The general and administrative lease expense excludes a reduction of $267 to lease expense for the sublease of the Company's office space in New York, New York. The Company recognized sublease income related to its ground leases in rental revenue of $1,660 for each of the six months ended June 30, 2024 and 2023. The following table shows the Company's maturity analysis of its operating lease liabilities as of June 30, 2024: Operating Leases 2024 - remainder $ 2,489 2025 5,174 2026 4,144 2027 3,643 2028 1,031 2029 193 Thereafter 5,287 Total lease payments $ 21,961 Less: Imputed interest (4,026) Present value of lease liabilities $ 17,935

Allowance for Credit Loss

Allowance for Credit Loss	6 Months Ended
	Jun. 30, 2024
Credit Loss [Abstract]
Allowance for Credit Loss	Allowance for Credit Loss As of June 30, 2024 and December 31, 2023, the Company had a $70 and $61 credit loss allowance, respectively, resulting from an investment in a sales-type lease. The following table details the investment in a sales-type lease as of June 30, 2024 and December 31, 2023: As of June 30, 2024 Amortized cost Allowance Net Investment Allowance as a % of Amortized Cost Investment in a sales-type lease $ 64,727 $ (70) $ 64,657 0.11 % As of December 31, 2023 Investment in a sales-type lease $ 63,525 $ (61) $ 63,464 0.10 % For the Six Months Ended June 30, 2024 Balance at Beginning of Period Write-Offs General Allowance Balance at End of Period Allowance for credit loss $ 61 $ — $ 9 $ 70 For the Twelve Months Ended December 31, 2023 Allowance for credit loss $ 93 $ — $ (32) $ 61 As of June 30, 2024, the lessee in the sales-type lease remains current on their obligations to the Company and, therefore, the investment is not on non-accrual status.

Concentration of Risk

Concentration of Risk	6 Months Ended
	Jun. 30, 2024
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentration of Risk The Company seeks to reduce its operating and leasing risks through the geographic diversification of its properties in target markets, tenant industry diversification, avoidance of dependency on a single asset and the creditworthiness of its tenants. For the six months ended June 30, 2024 and 2023, no single tenant represented greater than 10% of rental revenues. Cash and cash equivalent balances at certain institutions may exceed insurable amounts. The Company believes it mitigates this risk by investing in or through major financial institutions.

Equity

Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Equity	Equity Shareholders' Equity: At-The-Market Offering Program. The Company maintains an At-The-Market offering program ("ATM program") under which the Company can issue common shares, including through forward sales contracts. The Company may, from time to time, sell up to $350,000 of common shares over the term of the ATM program. During the six months ended June 30, 2024 and 2023, the Company did not sell shares under the ATM program. Stock Based Compensation. During the six months ended June 30, 2024 and 2023, the Company issued 50,505 and 46,440, respectively, of fully vested common shares to non-management members of the Company's Board of Trustees with a fair value of $450 and $480, respectively. Share Repurchase Program. In August 2022, the Company's Board of Trustees authorized the repurchase of up to an additional 10,000,000 common shares under the Company's share repurchase program, which does not have an expiration date. There were no common shares repurchased during the six months ended June 30, 2024 and 2023. As of June 30, 2024, 6,874,241 common shares remain available for repurchase under this authorization. The Company records a liability for repurchases that have not yet been settled as of the period end. There were no unsettled repurchases as of June 30, 2024. Series C Preferred Stock. The Company had 1,935,400 shares of Series C Cumulative Convertible Preferred Stock (“Series C Preferred”) outstanding at June 30, 2024. The shares have a dividend of $3.25 per share per annum, have a liquidation preference of $96,770, and the Company, if certain common share prices are achieved, can force conversion into common shares of the Company. As of June 30, 2024, each share was convertible into 2.4339 common shares. This conversion ratio may increase over time if the Company's common share dividend exceeds certain quarterly thresholds. If certain fundamental changes occur, holders may require the Company, in certain circumstances, to repurchase all or part of their shares of Series C Preferred. In addition, upon the occurrence of certain fundamental changes, the Company will, under certain circumstances, increase the conversion rate by a number of additional common shares or, in lieu thereof, may in certain circumstances elect to adjust the conversion rate upon the shares of Series C Preferred becoming convertible into shares of the public acquiring or surviving company. The Company may, at the Company's option, cause shares of Series C Preferred to be automatically converted into that number of common shares that are issuable at the then prevailing conversion rate. The Company may exercise its conversion right only if, at certain times, the closing price of the Company's common shares equals or exceeds 125% of the then prevailing conversion price of the Series C Preferred. Holders of shares of Series C Preferred generally have no voting rights, but will have limited voting rights if the Company fails to pay dividends for six or more quarters and under certain other circumstances. Upon conversion, the Company may choose to deliver the conversion value to investors in cash, common shares, or a combination of cash and common shares. A summary of the changes in accumulated other comprehensive income (loss) related to the Company's cash flow hedges is as follows: Six Months Ended June 30, 2024 2023 Balance at beginning of period $ 9,483 $ 17,689 Other comprehensive income before reclassifications 2,499 3,888 Amounts of (income) reclassified from accumulated other comprehensive income to interest expense (5,785) (5,377) Balance at end of period $ 6,197 $ 16,200 Noncontrolling Interests. In conjunction with several of the Company's acquisitions in prior years, sellers were issued limited partner interests in an operating partnership (“OP units”) as a form of consideration. All OP units, other than OP units owned by the Company, were redeemable for common shares at certain times, at the option of the holders, and were generally not otherwise mandatorily redeemable by the Company. The OP units were classified as a component of permanent equity as the Company has determined that the OP units were not redeemable securities as defined by GAAP. Each OP unit was redeemable for approximately 1.13 common shares. During the six months ended June 30, 2023, 4,886 common shares, were issued by the Company, in connection with OP unit redemptions, for an aggregate value of $25. On December 31, 2023, the operating partnership was merged with and into the Company and all outstanding OP units were converted into 822,627 common shares for a total value of $7,800 on a one to 1.13 basis. The following discloses the effects of changes in the Company's ownership interests in its noncontrolling interests: Net Income Attributable to Six Months Ended June 30, 2024 2023 Net income attributable to LXP Industrial Trust shareholders $ 5,157 $ 3,118 Transfers from noncontrolling interests: Increase in additional paid-in-capital for redemption of noncontrolling OP units — 25 Change from net income attributable to shareholders and transfers from noncontrolling interests $ 5,157 $ 3,143 During the six months ended June 30, 2024, the Company purchased the remaining equity interests owned in two joint venture partnerships that own warehouse/distribution facilities for an aggregate of $27,873. As the Company previously consolidated its interests in the joint ventures, the acquisitions of the noncontrolling interests were recorded as equity transactions with the difference between the purchase prices and the aggregate carrying balances recorded as a $23,843 reduction in additional paid-in-capital.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In addition to the commitments and contingencies disclosed elsewhere, the Company has the following commitments and contingencies. The Company is obligated under certain tenant leases, including its proportionate share for leases for non-consolidated entities, to fund the expansion of the underlying leased properties. The Company, under certain circumstances, may guarantee to tenants the completion of base building improvements and the payment of tenant improvement allowances and lease commissions on behalf of its subsidiaries. As of June 30, 2024, the Company expects to incur approximately $65,600 excluding noncontrolling interests' share and potential developer incentive fees or partner buyouts, to substantially fund the consolidated development project commitments. As of June 30, 2024, the Company has interests in various industrial land parcels held for development. The Company is unable to estimate the timing of any required funding for the potential development projects on these parcels.

Supplemental Disclosure of Stat

Supplemental Disclosure of Statement of Cash Flow Information	6 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Information [Abstract]
Supplemental Disclosure of Statement of Cash Flow Information	Supplemental Disclosure of Statement of Cash Flow Information In addition to disclosures discussed elsewhere, during the six months ended June 30, 2024 and 2023, the Company paid $35,561 and $25,780, respectively, for interest and $588 and $757, respectively, for income taxes. During the six months ended June 30, 2024 and 2023, the Company accrued additions for capital projects of $32,474 and $34,884, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	(16) Subsequent Events • Disposed of one property for gross proceeds of $28,600.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income attributable to LXP Industrial Trust shareholders	$ 5,426	$ (8,048)	$ 5,157	$ 3,118

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

The Company and Financial Sta_2

The Company and Financial Statement Presentation (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation.
Variable Interest Entity	The Company consolidates wholly-owned subsidiaries, partnerships and joint ventures which it controls (i) through voting rights or similar rights or (ii) by means other than voting rights if the Company is the primary beneficiary of a variable interest entity ("VIE"). Entities which the Company does not control and entities which are VIEs in which the Company is not a primary beneficiary are accounted for under appropriate GAAP.
Use of Estimates	Use of Estimates. Management has made a number of significant estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses to prepare these unaudited condensed consolidated financial statements in conformity with GAAP. These estimates and assumptions are based on management's best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Management adjusts such estimates when facts and circumstances dictate. The most significant estimates made include the recoverability of current and deferred accounts receivable, allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed, the determination of VIEs and which entities should be consolidated, the determination of impairment of long-lived assets and equity method investments, valuation of derivative financial instruments, valuation of awards granted under compensation plans, the determination of the incremental borrowing rate for leases where the Company is the lessee, the determination of the term and fair value of sales-type leases, the estimated credit losses for investments in sales-type leases and the useful lives of long-lived assets. Actual results could differ materially from those estimates.
Reclassifications	Reclassifications
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance . In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within the segment measure of profit or loss, an amount and description of its composition for other segment items to reconcile to segment profit or loss, and the title and position of the entity's CODM. ASU 2023-07 will be effective retrospectively for fiscal years beginning after December 15, 2023 and interim periods beginning after December 15, 2024. The Company will continue to evaluate the impact of the guidance on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures that requires public companies to annually (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than five percent of the amount computed by multiplying pretax income or loss by the applicable statutory income tax rate). The ASU is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of the guidance until it becomes effective. In March 2024, the U.S. Securities and Exchange Commission ("SEC") adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors. This rule will require registrants to disclose certain climate-related information in registration statements and annual reports. In April 2024, the SEC voluntarily stayed the effectiveness of the new rules pending related litigation. If the stay is lifted and the effective times are unchanged, certain of the disclosure requirements will begin to apply to the Company's fiscal year beginning January 1, 2025. The Company is currently evaluating the final rule to determine its impact on the Company's disclosures.
Lessor	Lessor Operating Leases. The Company’s lease portfolio as a lessor primarily includes general purpose, single-tenant net-leased real estate assets. Most of the Company’s leases require tenants to pay fixed annual rental payments that escalate on an annual basis and variable payments for other operating expenses, such as real estate taxes, insurance, common area maintenance ("CAM"), and utilities, that are based on the actual expenses incurred. Certain leases allow for the tenant to renew the lease term upon expiration or earlier. Periods covered by a renewal option are included within the lease term only when renewals are deemed to be reasonably certain. Certain leases allow for the tenant to terminate the lease before the expiration of the lease term and certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price upon expiration of the lease term or before. Accounting guidance under ASC 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease and determining the lease term when the contract has renewal, purchase or early termination provisions. The Company analyzes its accounts receivable, customer creditworthiness and current economic trends when evaluating the adequacy of the collectability of the lessee's total accounts receivable balance on a lease by lease basis. In addition, tenants in bankruptcy are analyzed and considerations are made in connection with the expected pre-petition and post-petition claims. If a lessee's accounts receivable balance is considered uncollectible, the Company will write-off the receivable balances associated with the lease to rental revenue and cease to recognize lease income, including straight-line rent, unless cash is received. If the Company subsequently determines that it is probable it will collect substantially all of the lessee's remaining lease payments under the lease term; the Company will reinstate the straight-line balance adjusting for the amount related to the period when the lease was accounted for on a cash basis. The Company elected that the lease and non-lease components in its leases are a single lease component, which is, therefore, being recognized as rental revenue in its unaudited condensed consolidated statements of operations. The primary non-lease service included within rental revenue is CAM services provided as part of the Company’s real estate leases. ASC 842 requires that the Company capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. For the six months ended June 30, 2024 and 2023, the Company did not incur any costs that were not incremental to the execution of leases. The Company manages the risk associated with the residual value of its leased properties by including contract clauses that make tenants responsible for surrendering the space in good condition upon lease termination, holding a diversified portfolio, and other activities . The Company does not have residual value guarantees on specific properties.
Lessee	Lessee The Company, as lessee, has ground leases, corporate leases for office space, and office equipment leases. All leases were classified as operating leases as of June 30, 2024. The leases have remaining lease terms of up to 33 years. Renewal periods are included in the lease term only when renewal is deemed to be reasonably certain. The lease term also includes periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the termination option. The Company measures its lease payments by including fixed rental payments and variable rental payments that tie to an index or a rate, such as CPI. The Company recognizes lease expense for its operating leases on a straight-line basis over the lease term and variable lease expense not included in the lease payment measurement as incurred. The accounting guidance under ASC 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease, determining the term of a lease when the contract has renewal or termination provisions and determining the discount rate. The Company determines whether an arrangement is or includes a lease at contract inception by evaluating whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If the Company has the right to obtain substantially all of the economic benefits from and can direct the use of, the identified asset for a period of time, the Company accounts for the contract as a lease. The Company uses the information available at the lease commencement date to determine the discount rate for any new leases. The Company used a portfolio approach to determine its incremental borrowing rate. Lease contracts were grouped based on similar lease terms and economic environments in a manner in which the Company reasonably expects that the outcome from applying a portfolio approach does not differ materially from an individual lease approach. The Company estimated a collateralized discount rate for each portfolio of leases.

The Company and Financial Sta_3

The Company and Financial Statement Presentation (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	Below is a summary of selected financial data of consolidated VIEs for which the Company is the primary beneficiary included in the unaudited condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Real estate, net $ 384,422 $ 535,118 Total assets $ 460,804 $ 626,442 Total liabilities $ 6,882 $ 19,549

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Reconciliation	The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 BASIC Net income (loss) attributable to common shareholders $ 3,775 $ (9,683) $ 1,844 $ (161) Weighted-average number of common shares outstanding - basic 291,403,985 290,186,934 291,346,184 290,134,015 Net income (loss) attributable to common shareholders - per common share basic $ 0.01 $ (0.03) $ 0.01 $ — DILUTED Net income (loss) attributable to common shareholders - basic $ 3,775 $ (9,683) $ 1,844 $ (161) Impact of assumed conversions — (81) — (77) Net income (loss) attributable to common shareholders $ 3,775 $ (9,764) $ 1,844 $ (238) Weighted-average common shares outstanding - basic 291,403,985 290,186,934 291,346,184 290,134,015 Effect of dilutive securities: Unvested share-based payment awards 211,365 — 105,682 — Operating partnership units — 828,603 — 830,335 Weighted-average common shares outstanding - diluted 291,615,350 291,015,537 291,451,866 290,964,350 Net income (loss) attributable to common shareholders - per common share diluted $ 0.01 $ (0.03) $ 0.01 $ —
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes the potentially dilutive shares excluded from the dilutive earnings per share calculation as the inclusion of such shares would be anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Unvested share-based payment awards — 135,172 — 131,522 Preferred shares - Series C 4,710,570 4,710,570 4,710,570 4,710,570

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	6 Months Ended
	Jun. 30, 2024
Real Estate [Abstract]
Schedule of Acquired Properties	The Company placed in service the following warehouse/distribution facilities during the six months ended June 30, 2024: Market (% owned) Placed in Service Date Initial Cost Basis (1) Lease Land Building and Improvements Phoenix, AZ (100%) February 2024 $ 52,767 01/2031 $ 9,449 $ 43,318 Central Florida (80%) (2) February 2024 80,825 N/A 10,618 70,207 Indianapolis, IN (80%) (2) February 2024 64,285 N/A 5,126 59,159 Greenville/Spartanburg, SC (90%) (2) April 2024 73,414 N/A 6,765 66,649 Central Florida (100%) (2) June 2024 19,021 N/A 4,493 14,528 $ 290,312 $ 36,451 $ 253,861 (1) Initial cost basis excludes certain remaining costs, such as tenant improvements, lease costs and developer incentive fees or partner promotes, if any. (2) The warehouse/distribution facility was placed in service vacant one year after the completion of base building construction in accordance with the Company's policy.
Schedule of Real Estate Properties	As of June 30, 2024, the details of the development arrangements outstanding are as follows (in $000's, except square feet): Project (% owned) # of Buildings Market Estimated Sq. Ft. Estimated Project Cost (1) GAAP Investment Balance as of 6/30/2024 (2) LXP Amount Funded as of 6/30/2024 Actual/Estimated Base Building Completion Date % Leased as of 6/30/2024 Build-to-Suit Development Projects Leased Piedmont (100%) (3) 1 Greenville/Spartanburg, SC 625,238 $ 74,400 $ 48,578 $ 34,540 4Q 2024 100 % Development Projects Available for Lease (4) South Shore Building B (100%) (5) 1 Central Florida 80,983 $ 12,700 $ 12,122 $ 11,919 3Q 2023 — % Etna Building D (100%) 1 Columbus, OH 250,020 30,200 23,743 25,021 1Q 2024 — % 2 331,003 $ 42,900 $ 35,865 $ 36,940 3 956,241 $ 117,300 $ 84,443 $ 71,480 (1) Excludes leasing costs, incomplete costs, and developer incentive fees or partner promotes, if any. (2) Excludes leasing costs and incomplete costs. (3) During the six months ended June 30, 2024, the Company acquired a 59.1 acre land parcel for a purchase price of $3,416 and commenced construction of a build-to-suit warehouse/distribution facility subject to a 12-year lease, which is estimated to commence January 2025. (4) Estimated project cost excludes potential developer incentive fees or partner promotes, if any. (5) During the fourth quarter of 2023, a 57,690 square foot portion of the project, representing 42% of the facility was occupied by a tenant and placed in service. As of June 30, 2024, the details of the land held for industrial development are as follows (in $000's, except acres): Project (% owned) Market Approx. Developable Acres GAAP Investment Balance as of 6/30/2024 LXP Amount Funded as of 6/30/2024 (1) Reems & Olive (95.5%) Phoenix, AZ 315 $ 79,338 $ 74,610 Mt. Comfort Phase II (80%) Indianapolis, IN 116 5,331 4,295 ATL Fairburn JV (100%) Atlanta, GA 14 1,732 1,757 445 $ 86,401 $ 80,662 (1) Excludes noncontrolling interests' share.

Dispositions and Impairment (Ta

Dispositions and Impairment (Tables)	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities, Held-for-Sale	Assets and liabilities of the held for sale properties at June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 Assets: Real estate, at cost $ 26,758 $ 9,018 Real estate, intangible assets 3,536 — Accumulated depreciation and amortization (14,452) — Other 131 150 $ 15,973 $ 9,168 Liabilities: Accounts payable and other liabilities $ 24 $ 5 Deferred revenue — 53 Prepaid rent — 359 $ 24 $ 417

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Schedule of Fair Value Measurement Inputs	The following tables present the Company's assets and liabilities measured at fair value on a recurring and non-recurring basis as of June 30, 2024 and December 31, 2023, aggregated by the level in the fair value hierarchy within which those measurements fall: Balance Fair Value Measurements Using Description June 30, 2024 (Level 1) (Level 2) (Level 3) Interest rate swap assets $ 6,128 $ — $ 6,128 $ — Balance Fair Value Measurements Using Description December 31, 2023 (Level 1) (Level 2) (Level 3) Interest rate swap assets $ 9,471 $ — $ 9,471 $ — Impaired assets held for sale (1) $ 9,170 $ — $ — $ 9,170 (1) The Company estimated the fair value of certain real estate assets throughout the year based on a discounted cash flow analysis using a discount rate of 10.0% and a residual capitalization rate of 8.0%. As significant inputs to the models are unobservable, the Company determined that the value determined for these properties falls within Level 3 of the fair value reporting hierarchy.
Schedule of Carrying Amounts and Fair Value of Financial Instruments	The table below sets forth the carrying amounts and estimated fair values of the Company's financial instruments, as of June 30, 2024 and December 31, 2023: As of June 30, 2024 As of December 31, 2023 Carrying Fair Value Carrying Fair Value Assets Investment in a sales-type lease, net $ 64,657 $ 72,280 $ 63,464 $ 62,500 Liabilities Debt $ 1,571,017 $ 1,434,209 $ 1,770,827 $ 1,630,066

Investments in Non-Consolidat_2

Investments in Non-Consolidated Entities (Tables)	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Schedule of Investments in Non-Consolidated Entities	Below is a schedule of the Company's investments in non-consolidated entities: Percentage Ownership at Investment Balance as of Equity in earnings (losses) of non-consolidated entities Investment June 30, 2024 June 30, 2024 December 31, 2023 June 30, 2024 June 30, 2023 NNN MFG Cold JV L.P. ("MFG Cold JV") (1) 20% $ 16,464 $ 19,693 $ (1,986) $ (1,597) NNN Office JV L.P. ("NNN JV") (2) 20% 16,363 16,237 (74) (263) Etna Park 70, LLC (3) 90% 9,685 10,320 (134) (86) Etna Park East LLC (4) 90% 2,297 2,245 (92) (72) BSH Lessee L.P. (5) 25% — — — 4,608 Lombard Street Lots, LLC (6) 44.1% 2,311 — — — $ 47,120 $ 48,495 $ (2,286) $ 2,590 (1) MFG Cold JV is a joint venture formed in 2021 that owns special purpose industrial properties formerly owned by the Company. (2) NNN JV is a joint venture formed in 2018 that owns office properties formerly owned by the Company. During the six months ended June 30, 2024, NNN JV sold one asset and the Company recognized its share of gains on sale and debt satisfaction costs of $283 and $3, respectively, within equity in earnings (losses) of non-consolidated entities within its unaudited condensed consolidated statements of operations. (3) Joint venture formed in 2017 with a developer entity to acquire a parcel of land. (4) Joint venture formed in 2019 with a developer entity to acquire a parcel of land. (5) A joint venture investment which sold its sole single-tenant, net-leased asset in January 2023 and the Company recognized its share of the gain on sale of $4,791 within equity in earnings (losses) of non-consolidated entities within its unaudited condensed consolidated statements of operations. (6) In June 2024, the Company determined it no longer controlled and ceased to consolidate the operations of Lombard Street Lots, LLC in its unaudited condensed consolidated financial statements, as a result of an amendment to the LLC agreement. The Company retained significant influence over Lombard Street Lots, LLC and accounted for its interest under the equity method of accounting. The Company recognized a gain on change in control of a subsidiary as a result of the deconsolidation of $209 and recorded its equity method investment in Lombard Street Lots, LLC at a fair value of $2,311. The total assets and liabilities deconsolidated were $4,608 and $4, respectively.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The Company had the following mortgages and notes payable outstanding as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Mortgages and notes payable $ 58,225 $ 60,888 Unamortized debt issuance costs (674) (764) Mortgage notes payable, net $ 57,551 $ 60,124
Debt Instrument Redemption	The Company had the following senior notes outstanding as of June 30, 2024 and December 31, 2023: Issue Date June 30, 2024 December 31, 2023 Interest Rate Maturity Date Issue Price May 2014 (1) $ — $ 198,932 4.400 % June 2024 99.883 % November 2023 300,000 300,000 6.750 % November 2028 99.423 % August 2020 400,000 400,000 2.700 % September 2030 99.233 % August 2021 400,000 400,000 2.375 % October 2031 99.758 % 1,100,000 1,298,932 Unamortized debt discount (4,106) (4,489) Unamortized debt issuance costs (7,560) (8,298) Senior notes payable, net $ 1,088,334 $ 1,286,145
Schedule of Line of Credit Facilities	The maturity dates and interest rates as of June 30, 2024, are as follows: Maturity Date Interest Rate $600,000 Revolving Credit Facility (1) July 2026 SOFR + 0.85% $300,000 Term Loan (2) January 2027 Term SOFR + 1.00% (1) Maturity date of the revolving credit facility can be extended to July 2027, subject to certain conditions. The interest rate includes a 0.10% adjustment. The interest rate spread ranges from 0.725% to 1.400%, and the revolving credit facility allows for further reductions upon the achievement of to-be-determined sustainability metrics. At June 30, 2024, the Company had no borrowings outstanding and availability of $600,000, subject to covenant compliance. (2) The Term SOFR portion of the interest rate was swapped to obtain a current fixed rate of 2.722% per annum, until January 31, 2025. The aggregate unamortized debt issuance costs for the term loan was $2,711 and $3,236 as of June 30, 2024 and December 31, 2023, respectively.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	As of June 30, 2024, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: Interest Rate Derivative Number of Instruments Notional Interest Rate Swaps 4 $300,000
Fair Value of the Company's Derivative Financial Instruments and Classification on the Balance Sheets	The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the unaudited condensed consolidated balance sheets: As of June 30, 2024 As of December 31, 2023 Derivatives designated as hedging instruments: Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest Rate Swaps Other Assets $ 6,128 Other Assets $ 9,471
Effect of the Company's Derivative Financial Instruments on the Statements of Operation	The table below presents the effect of the Company's derivative financial instruments on the unaudited condensed consolidated statements of operations for the six months ended June 30, 2024 and 2023: Derivatives in Cash Flow Amount of Gain Amount of (Income) Loss Reclassified from Accumulated OCI into Income (1) June 30, Hedging Relationships 2024 2023 2024 2023 Interest Rate Swaps $ 2,279 $ 3,668 $ (5,623) $ (4,719) The Company's share of non-consolidated entity's interest rate cap 220 220 (162) (658) Total $ 2,499 $ 3,888 $ (5,785) $ (5,377) (1) Amounts reclassified from accumulated other comprehensive income (loss) to interest expense within the unaudited condensed consolidated statements of operations.

Lease Accounting (Tables)

Lease Accounting (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Operating Lease, Lease Income	The following table presents the Company’s classification of rental revenue for its operating leases and sales-type lease for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, Classification 2024 2023 2024 2023 Fixed $ 69,748 $ 69,049 $ 139,760 $ 137,136 Sales-type lease income 1,917 1,848 3,816 3,681 Variable (1) 13,103 14,168 26,399 27,665 Total $ 84,768 $ 85,065 $ 169,975 $ 168,482 (1) Primarily comprised of tenant reimbursements.
Lessor, Operating Lease, Payments to be Received, Maturity	Future fixed rental receipts for operating and sales-type leases, assuming no new or re-negotiated leases as of June 30, 2024 were as follows: Operating Sales-Type 2024 - remainder $ 136,494 $ 2,648 2025 270,138 5,473 2026 255,230 5,692 2027 220,623 5,920 2028 186,951 6,156 2029 160,456 6,403 Thereafter 447,527 726,604 Total $ 1,677,419 $ 758,896 Difference between undiscounted cash flow and present value (694,169) Investment in a sales-type lease $ 64,727
Assets and Liabilities, Lessee	Supplemental information related to operating leases is as follows: Six Months Ended June 30, 2024 June 30, 2023 Weighted-average remaining lease term Operating leases (years) 8.6 9.2 Weighted-average discount rate Operating leases 4.1 % 4.1 %
Lease, Cost	The components of lease expense for the six months ended June 30, 2024 and 2023 were as follows: Income Statement Classification Fixed Variable Total 2024: Property operating $ 1,756 $ 15 $ 1,771 General and administrative (1) 788 124 912 Total $ 2,544 $ 139 $ 2,683 2023: Property operating $ 1,771 $ 7 $ 1,778 General and administrative 767 151 918 Total $ 2,538 $ 158 $ 2,696 (1) The general and administrative lease expense excludes a reduction of $267 to lease expense for the sublease of the Company's office space in New York, New York.
Lessee, Operating Lease, Liability, Maturity	The following table shows the Company's maturity analysis of its operating lease liabilities as of June 30, 2024: Operating Leases 2024 - remainder $ 2,489 2025 5,174 2026 4,144 2027 3,643 2028 1,031 2029 193 Thereafter 5,287 Total lease payments $ 21,961 Less: Imputed interest (4,026) Present value of lease liabilities $ 17,935

Allowance for Credit Loss (Tabl

Allowance for Credit Loss (Tables)	6 Months Ended
	Jun. 30, 2024
Credit Loss [Abstract]
Sales-type Lease, Net Investment in Lease, Allowance for Credit Loss	The following table details the investment in a sales-type lease as of June 30, 2024 and December 31, 2023: As of June 30, 2024 Amortized cost Allowance Net Investment Allowance as a % of Amortized Cost Investment in a sales-type lease $ 64,727 $ (70) $ 64,657 0.11 % As of December 31, 2023 Investment in a sales-type lease $ 63,525 $ (61) $ 63,464 0.10 % For the Six Months Ended June 30, 2024 Balance at Beginning of Period Write-Offs General Allowance Balance at End of Period Allowance for credit loss $ 61 $ — $ 9 $ 70 For the Twelve Months Ended December 31, 2023 Allowance for credit loss $ 93 $ — $ (32) $ 61 As of June 30, 2024, the lessee in the sales-type lease remains current on their obligations to the Company and, therefore, the investment is not on non-accrual status.

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	A summary of the changes in accumulated other comprehensive income (loss) related to the Company's cash flow hedges is as follows: Six Months Ended June 30, 2024 2023 Balance at beginning of period $ 9,483 $ 17,689 Other comprehensive income before reclassifications 2,499 3,888 Amounts of (income) reclassified from accumulated other comprehensive income to interest expense (5,785) (5,377) Balance at end of period $ 6,197 $ 16,200
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net	The following discloses the effects of changes in the Company's ownership interests in its noncontrolling interests: Net Income Attributable to Six Months Ended June 30, 2024 2023 Net income attributable to LXP Industrial Trust shareholders $ 5,157 $ 3,118 Transfers from noncontrolling interests: Increase in additional paid-in-capital for redemption of noncontrolling OP units — 25 Change from net income attributable to shareholders and transfers from noncontrolling interests $ 5,157 $ 3,143

The Company and Financial Sta_4

The Company and Financial Statement Presentation - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) state property	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) jointVenture property state	Jun. 30, 2023 USD ($)
Variable Interest Entity [Line Items]
Number of properties | property	117		117
Number of states in which entity has interests | state	17		17
Gains on sales of properties | $	$ 8,352	$ 0	$ 8,352	$ 7,879
Joint Ventures with Developers
Variable Interest Entity [Line Items]
Number of joint ventures acquired			5
Joint Ventures with Developers | On-Going Development Projects
Variable Interest Entity [Line Items]
Number of joint ventures acquired			3
Joint Ventures with Developers | Land Joint Ventures
Variable Interest Entity [Line Items]
Number of joint ventures acquired			2
Joint Ventures with Developers | Minimum
Variable Interest Entity [Line Items]
Joint venture, ownership percentage			80%
Joint Ventures with Developers | Maximum
Variable Interest Entity [Line Items]
Joint venture, ownership percentage			95.50%

The Company and Financial Sta_5

The Company and Financial Statement Presentation - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Real estate, net	$ 3,543,143	$ 3,584,153
Total assets	3,885,867	4,192,775
Total liabilities	1,725,355	1,927,318
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Real estate, net	384,422	535,118
Total assets	460,804	626,442
Total liabilities	$ 6,882	$ 19,549

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Numerators and Denominators (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
BASIC
Net income (loss) attributable to common shareholders	$ 3,775	$ (9,683)	$ 1,844	$ (161)
Weighted-average number of common shares outstanding – basic (in shares)	291,403,985	290,186,934	291,346,184	290,134,015
Net income (loss) attributable to common shareholders – per common share basic (in dollars per share)	$ 0.01	$ (0.03)	$ 0.01	$ 0
DILUTED
Impact of assumed conversions	$ 0	$ (81)	$ 0	$ (77)
Net income (loss) attributable to common shareholders, diluted	$ 3,775	$ (9,764)	$ 1,844	$ (238)
Effect of dilutive securities:
Unvested share-based payment awards (in shares)	211,365	0	105,682	0
Operating partnership units (in shares)	0	828,603	0	830,335
Weighted-average common shares outstanding - diluted (in shares)	291,615,350	291,015,537	291,451,866	290,964,350
Net income (loss) attributable to common shareholders – per common share diluted (in dollars per share)	$ 0.01	$ (0.03)	$ 0.01	$ 0

Earnings Per Share - Potentiall

Earnings Per Share - Potentially Dilutive Shares (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Unvested share-based payment awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive shares excluded from the computation of EPS (in shares)	0	135,172	0	131,522
Preferred shares - Series C
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive shares excluded from the computation of EPS (in shares)	4,710,570	4,710,570	4,710,570	4,710,570

Investments in Real Estate - Sc

Investments in Real Estate - Schedule of Real Estate Acquisitions (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Real Estate [Line Items]
Real estate, at cost	$ 4,044,720	$ 3,774,239
Industrial Property
Real Estate [Line Items]
Real estate, at cost	290,312
Land	36,451
Building and Improvements	$ 253,861
Phoenix, AZ | Industrial Property | Phoenix, AZ Industrial Property, Lease Expiring January 2031
Real Estate [Line Items]
Market (% owned)	100%
Real estate, at cost	$ 52,767
Land	9,449
Building and Improvements	$ 43,318
Central Florida | Industrial Property | Central Florida Industrial Property, Lease Expiration Date Not Available, Placed In Service, February 2024
Real Estate [Line Items]
Market (% owned)	80%
Real estate, at cost	$ 80,825
Land	10,618
Building and Improvements	$ 70,207
Central Florida | Industrial Property | Central Florida Industrial Property, Lease Expiration Date Not Available
Real Estate [Line Items]
Market (% owned)	100%
Real estate, at cost	$ 19,021
Land	4,493
Building and Improvements	$ 14,528
Period after completion of base building construction, placed in service	1 year
Indianapolis, IN | Industrial Property | Indianapolis, IN Industrial Property, Lease Expiration Date Not Available
Real Estate [Line Items]
Market (% owned)	80%
Real estate, at cost	$ 64,285
Land	5,126
Building and Improvements	$ 59,159
Greenville/Spartanburg, SC | Industrial Property | Greenville-Spartanburg, SC, Industrial Property, Lease Expiration Date Not Available
Real Estate [Line Items]
Market (% owned)	90%
Real estate, at cost	$ 73,414
Land	6,765
Building and Improvements	$ 66,649

Investments in Real Estate - _2

Investments in Real Estate - Schedule of Real Estate Properties Under Construction (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($) ft² a building	Jun. 30, 2024 USD ($) ft² a building	Dec. 31, 2023 USD ($) a
Real Estate [Line Items]
# of Buildings | building	3	3
Estimated Sq. Ft. | ft²	956,241	956,241
Estimated Project Cost	$ 117,300	$ 117,300
GAAP Investment Balance as of period end	84,443	84,443	$ 319,355
Amount Funded as of period end	$ 71,480	$ 71,480
Development Projects Available for Lease
Real Estate [Line Items]
# of Buildings | building	2	2
Estimated Sq. Ft. | ft²	331,003	331,003
Estimated Project Cost	$ 42,900	$ 42,900
GAAP Investment Balance as of period end	35,865	35,865
Amount Funded as of period end	$ 36,940	$ 36,940
Greenville/Spartanburg, SC | Piedmont | Development Projects Leased
Real Estate [Line Items]
Project (% owned)		100%
# of Buildings | building	1	1
Estimated Sq. Ft. | ft²	625,238	625,238
Estimated Project Cost	$ 74,400	$ 74,400
GAAP Investment Balance as of period end	48,578	48,578
Amount Funded as of period end	$ 34,540	$ 34,540
% Leased as of period end	100%	100%
Greenville/Spartanburg, SC | Piedmont | Industrial Property | Development Projects Leased
Real Estate [Line Items]
Number of acres purchased | a	59.1	59.1
Acquisition of real estate, including intangible assets	$ 3,416
Term of lease	12 years	12 years
Central Florida | South Shore | Development Projects Leased
Real Estate [Line Items]
Estimated Sq. Ft. | a			57,690
% Leased as of period end			42%
Central Florida | South Shore | Development Projects Available for Lease
Real Estate [Line Items]
Project (% owned)		100%
# of Buildings | building	1	1
Estimated Sq. Ft. | ft²	80,983	80,983
Estimated Project Cost	$ 12,700	$ 12,700
GAAP Investment Balance as of period end	12,122	12,122
Amount Funded as of period end	$ 11,919	$ 11,919
% Leased as of period end	0%	0%
Columbus, Ohio | Etna Building D | Development Projects Available for Lease
Real Estate [Line Items]
Project (% owned)		100%
# of Buildings | building	1	1
Estimated Sq. Ft. | ft²	250,020	250,020
Estimated Project Cost	$ 30,200	$ 30,200
GAAP Investment Balance as of period end	23,743	23,743
Amount Funded as of period end	$ 25,021	$ 25,021
% Leased as of period end	0%	0%

Investments in Real Estate - Na

Investments in Real Estate - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Real Estate [Line Items]
Investments in real estate under construction	$ 84,443		$ 319,355
Capitalized interest	2,687	$ 5,436
Development Arrangements Not Placed Into Service
Real Estate [Line Items]
Capitalized interest	$ 869	$ 5,194

Investments in Real Estate - _3

Investments in Real Estate - Schedule of Land Held for Development (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) a	Dec. 31, 2023 USD ($)
Real Estate [Line Items]
Approx. Developable Acres | a	445
GAAP Investment Balance as of period end	$ 86,401	$ 80,743
LXP Amount Funded as of period end	$ 80,662
Reems & Olive | Phoenix, AZ
Real Estate [Line Items]
Project (% owned)	95.50%
Approx. Developable Acres | a	315
GAAP Investment Balance as of period end	$ 79,338
LXP Amount Funded as of period end	$ 74,610
Mt. Comfort Phase II | Indianapolis, IN
Real Estate [Line Items]
Project (% owned)	80%
Approx. Developable Acres | a	116
GAAP Investment Balance as of period end	$ 5,331
LXP Amount Funded as of period end	$ 4,295
ATL Fairburn JV | Atlanta, GA
Real Estate [Line Items]
Project (% owned)	100%
Approx. Developable Acres | a	14
GAAP Investment Balance as of period end	$ 1,732
LXP Amount Funded as of period end	$ 1,757

Dispositions and Impairment - N

Dispositions and Impairment - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) property	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) property	Jun. 30, 2023 USD ($)	Dec. 31, 2023 property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties held for sale | property	1		1		2
Impairment charges	$ 0	$ 12,967	$ 0	$ 16,490
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate gross disposition price	$ 15,750	$ 27,910	15,750	27,910
Gain on sale of properties			$ 8,352	$ 7,879

Dispositions and Impairment - S

Dispositions and Impairment - Schedule of Properties Held for Sale (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Real estate, at cost	$ 26,758	$ 9,018
Real estate, intangible assets	3,536	0
Accumulated depreciation and amortization	(14,452)	0
Other	131	150
Assets held for sale	15,973	9,168
Liabilities:
Accounts payable and other liabilities	24	5
Deferred revenue	0	53
Prepaid rent	0	359
Liabilities held for sale	$ 24	$ 417

Fair Value Measurements - Sched

Fair Value Measurements - Schedule Fair Value Measurements Inputs (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate		10%
Residual capitalization rate		8%
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap assets	$ 6,128	$ 9,471
Fair Value, Recurring | (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap assets	0	0
Fair Value, Recurring | (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap assets	6,128	9,471
Fair Value, Recurring | (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap assets	$ 0	0
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired assets held for sale		9,170
Fair Value, Nonrecurring | (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired assets held for sale		0
Fair Value, Nonrecurring | (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired assets held for sale		0
Fair Value, Nonrecurring | (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired assets held for sale		$ 9,170

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value by Balance Sheet Grouping (Details) - (Level 3) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Carrying Amount
Assets:
Investment in a sales-type lease, net	$ 64,657	$ 63,464
Liabilities
Carrying value of debt	1,571,017	1,770,827
Fair Value
Assets:
Investment in a sales-type lease, net	72,280	62,500
Liabilities
Fair value of debt	$ 1,434,209	$ 1,630,066

Investments in Non-Consolidat_3

Investments in Non-Consolidated Entities - Schedule of Investment in Non-Consolidated Entities (Details) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2024 USD ($) property	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Investments in and Advances to Affiliates [Line Items]
Investment Balance as of	$ 47,120			$ 47,120		$ 48,495
Equity in earnings (losses) of non-consolidated entities	(1,005)	$ (1,014)		(2,286)	$ 2,590
Gain on change in control of a subsidiary	209	$ 0		209	0
Total assets	3,885,867			3,885,867		4,192,775
Total liabilities	1,725,355			1,725,355		1,927,318
Lombard Street Lots, LLC
Investments in and Advances to Affiliates [Line Items]
Gain on change in control of a subsidiary	209
Total assets	4,608			4,608
Total liabilities	$ 4			$ 4
NNN MFG Cold JV L.P.
Investments in and Advances to Affiliates [Line Items]
Percentage Ownership at	20%			20%
Investment Balance as of	$ 16,464			$ 16,464		19,693
Equity in earnings (losses) of non-consolidated entities				$ (1,986)	(1,597)
NNN Office Joint Venture
Investments in and Advances to Affiliates [Line Items]
Percentage Ownership at	20%			20%
Investment Balance as of	$ 16,363			$ 16,363		16,237
Equity in earnings (losses) of non-consolidated entities				$ (74)	(263)
Etna Park 70 LLC
Investments in and Advances to Affiliates [Line Items]
Percentage Ownership at	90%			90%
Investment Balance as of	$ 9,685			$ 9,685		10,320
Equity in earnings (losses) of non-consolidated entities				$ (134)	(86)
Etna Park East LLC
Investments in and Advances to Affiliates [Line Items]
Percentage Ownership at	90%			90%
Investment Balance as of	$ 2,297			$ 2,297		2,245
Equity in earnings (losses) of non-consolidated entities				$ (92)	(72)
BSH Lessee L.P.
Investments in and Advances to Affiliates [Line Items]
Percentage Ownership at	25%			25%
Investment Balance as of	$ 0			$ 0		0
Equity in earnings (losses) of non-consolidated entities				$ 0	4,608
BSH Lessee L.P. | BSH Lessee Joint Venture Properties
Investments in and Advances to Affiliates [Line Items]
Aggregate gain on sale of properties			$ 4,791
Lombard Street Lots, LLC
Investments in and Advances to Affiliates [Line Items]
Percentage Ownership at	44.10%			44.10%
Investment Balance as of	$ 2,311			$ 2,311		$ 0
Equity in earnings (losses) of non-consolidated entities				$ 0	$ 0
NNN Office Joint Venture Properties | NNN Office Joint Venture
Investments in and Advances to Affiliates [Line Items]
Number of assets sold in joint venture | property				1
Aggregate gain on sale of properties				$ 283
Debt satisfaction costs				$ 3

Investments in Non-Consolidat_4

Investments in Non-Consolidated Entities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Investments [Line Items]
Other revenue	$ 1,018	$ 1,985	$ 2,062	$ 3,643
Investment Advice | Lexington Reality Advisors Inc
Schedule of Investments [Line Items]
Other revenue			$ 2,062	$ 2,208

Debt - Schedule of Mortgages an

Debt - Schedule of Mortgages and Notes Payable (Details) - Mortgages and Notes Payable - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Mortgages and notes payable	$ 58,225	$ 60,888
Unamortized debt issuance costs	(674)	(764)
Mortgage notes payable, net	$ 57,551	$ 60,124

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2007
Debt Instrument [Line Items]
Capitalized interest	$ 2,687,000	$ 5,436,000
Mortgages and Notes Payable
Debt Instrument [Line Items]
Weighted average interest rate	4%		4%
Trust Preferred Securities | Trust Preferred Securities Due in 2037
Debt Instrument [Line Items]
Face amount of debt instrument				$ 200,000,000
Adjustment to interest rate	0.26%
Basis spread on variable rate	1.70%
Interest rate, effective percentage	7.291%
Principal amount outstanding	$ 129,120,000		$ 129,120,000
Unamortized debt issuance costs	$ 1,277,000		$ 1,326,000
Minimum | Mortgages and Notes Payable
Debt Instrument [Line Items]
Interest Rate	3.50%		3.50%
Maximum | Mortgages and Notes Payable
Debt Instrument [Line Items]
Interest Rate	4.30%		4.30%

Debt - Schedule of Debt Instrum

Debt - Schedule of Debt Instrument Redemption (Details) - Senior Notes - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Mortgages and notes payable	$ 1,100,000	$ 1,298,932
Unamortized debt discount	(4,106)	(4,489)
Unamortized debt issuance costs	(7,560)	(8,298)
Notes payable, net	1,088,334	1,286,145
November 2023
Debt Instrument [Line Items]
Mortgages and notes payable	$ 300,000	300,000
Interest Rate	6.75%
Percentage of issuance price	99.423%
August 2021
Debt Instrument [Line Items]
Mortgages and notes payable	$ 400,000	400,000
Interest Rate	2.375%
Percentage of issuance price	99.758%
August 2020
Debt Instrument [Line Items]
Mortgages and notes payable	$ 400,000	400,000
Interest Rate	2.70%
Percentage of issuance price	99.233%
May 2014
Debt Instrument [Line Items]
Mortgages and notes payable	$ 0	$ 198,932
Interest Rate	4.40%
Percentage of issuance price	99.883%

Debt - Schedule of Credit Agree

Debt - Schedule of Credit Agreement Terms (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Revolving Credit Facility Expires in July 2026 | Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 600,000,000
Adjustment to interest rate	0.10%
Basis spread on variable rate	0.85%
Revolving Credit Facility Expires in July 2026 | Unsecured Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.725%
Revolving Credit Facility Expires in July 2026 | Unsecured Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.40%
Unsecured Term Loan, Expiring January 2025 | Unsecured Term Loan
Debt Instrument [Line Items]
Face amount of debt instrument	$ 300,000,000
Basis spread on variable rate	1%
Interest Rate	2.722%
Unamortized debt issuance costs	$ 2,711,000	$ 3,236,000
Unsecured Revolving Credit Facility, Expiring February 2023 | Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility borrowings	0
Remaining borrowing capacity	$ 600,000,000

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) instrument	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) instrument	Jun. 30, 2023 USD ($)
Derivative [Line Items]
Gain (loss) to be reclassified during next 12 months	$ 6,128		$ 6,128
Interest expense	$ 17,603	$ 10,144	$ 34,587	$ 21,537
Interest Rate Swaps | Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Number of instruments | instrument	4		4
Notional amount	$ 300,000		$ 300,000

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Schedule of Derivative Instruments (Details) - Interest Rate Swaps - Designated as Hedging Instrument - Cash Flow Hedging $ in Thousands	Jun. 30, 2024 USD ($) instrument
Derivative [Line Items]
Number of instruments | instrument	4
Notional amount | $	$ 300,000

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Fair Value of the Company's Derivative Financial Instruments and Classification on the Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Interest Rate Swaps | Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset	$ 6,128	$ 9,471

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Effect of the Company's Derivative Financial Instruments on the Statements of Operation (Details) - Cash Flow Hedging - Designated as Hedging Instrument - Interest Expense - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Derivative [Line Items]
Amount of gain (loss) recognized in OCI on derivatives	$ 2,499	$ 3,888
Amount of (income) loss reclassified from accumulated OCI into income	(5,785)	(5,377)
Interest Rate Swaps
Derivative [Line Items]
Amount of gain (loss) recognized in OCI on derivatives	2,279	3,668
Amount of (income) loss reclassified from accumulated OCI into income	(5,623)	(4,719)
Interest Rate Cap
Derivative [Line Items]
OCI, equity method investment, before reclassification, after tax	220	220
OCI, equity method investment, reclassification, after tax	$ (162)	$ (658)

Lease Accounting - Narrative (D

Lease Accounting - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) a groundLease sales-typeLease $ / ft²	Jun. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Number of sales-type leases | sales-typeLease	1
Sublease income | $	$ 1,660	$ 1,660
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term (up to)	33 years
Phoenix, AZ
Lessee, Lease, Description [Line Items]
Number of ground leases | groundLease	1
Number of acres, industrial development land parcel | a	100
Purchase option, land, per square foot | $ / ft²	20

Lease Accounting - Lease Income

Lease Accounting - Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Fixed	$ 69,748	$ 69,049	$ 139,760	$ 137,136
Sales-type lease income	1,917	1,848	3,816	3,681
Variable	13,103	14,168	26,399	27,665
Total	$ 84,768	$ 85,065	$ 169,975	$ 168,482

Lease Accounting - Future Fixed

Lease Accounting - Future Fixed Rental Receipts (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Operating
2024 - remainder	$ 136,494
2025	270,138
2026	255,230
2027	220,623
2028	186,951
2029	160,456
Thereafter	447,527
Total	1,677,419
Sales-Type
2024 - remainder	2,648
2025	5,473
2026	5,692
2027	5,920
2028	6,156
2029	6,403
Thereafter	726,604
Total	758,896
Difference between undiscounted cash flow and present value	(694,169)
Investment in a sales-type lease	$ 64,727

Lease Accounting - Supplemental

Lease Accounting - Supplemental Balance Sheet Information (Details)	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Weighted-average remaining lease term, operating leases (years)	8 years 7 months 6 days	9 years 2 months 12 days
Weighted-average discount rate, operating leases	4.10%	4.10%

Lease Accounting - Components o

Lease Accounting - Components of Lease Expense (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Lessee, Lease, Description [Line Items]
Fixed	$ 2,544	$ 2,538
Variable	139	158
Total	2,683	2,696
Sublease income	1,660	1,660
Property operating
Lessee, Lease, Description [Line Items]
Fixed	1,756	1,771
Variable	15	7
Total	1,771	1,778
General and administrative(1)
Lessee, Lease, Description [Line Items]
Fixed	788	767
Variable	124	151
Total	$ 912	$ 918

Lease Accounting - Operating Le

Lease Accounting - Operating Lease Liabilities Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
2024 - remainder	$ 2,489
2025	5,174
2026	4,144
2027	3,643
2028	1,031
2029	193
Thereafter	5,287
Total lease payments	21,961
Less: Imputed interest	(4,026)
Operating lease liabilities	$ 17,935	$ 20,233

Allowance for Credit Loss - Nar

Allowance for Credit Loss - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Credit Loss [Abstract]
Allowance	$ (70)	$ (61)	$ (61)	$ (93)

Allowance for Credit Loss - Det

Allowance for Credit Loss - Detail of Investment in Sales-Type Lease (Details) $ in Thousands	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Credit Loss [Abstract]
Amortized cost	$ 64,727	$ 63,525
Allowance	(70)	(61)	$ (61)	$ (93)
Net Investment	$ 64,657	$ 63,464
Allowance as a % of Amortized Cost	0.0011	0.0010

Allowance for Credit Loss - All

Allowance for Credit Loss - Allowance for Sales-type Lease (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Sales-type Lease, Net Investment in Lease, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ 61	$ 93
Write-Offs	0	0
General Allowance	9	(32)
Balance at End of Period	$ 70	$ 61

Equity - Narrative (Details)

Equity - Narrative (Details)		3 Months Ended	6 Months Ended
	Dec. 31, 2023 USD ($) shares	Jun. 30, 2024 USD ($) property shares	Jun. 30, 2024 USD ($) property $ / shares shares	Jun. 30, 2023 USD ($) shares	Aug. 31, 2022 shares
Equity [Line Items]
Authorized amount (in shares) | shares					10,000,000
Common shares repurchased (in shares) | shares			0	0
Shares remaining available for repurchase (in shares) | shares		6,874,241	6,874,241
Unsettled repurchases		$ 0	$ 0
Series C cumulative convertible preferred, shares outstanding (in shares) | shares	1,935,400	1,935,400	1,935,400
Series C cumulative convertible preferred, liquidation preference	$ 96,770,000	$ 96,770,000	$ 96,770,000
OP unit equivalent in common shares			1.13
Partners capital account, shares issued for units redeemed | shares	822,627			4,886
Partners' capital account, exchanges and conversions	$ 7,800,000			$ 25,000
Exchange ratio of partner units (in shares)	1.13
Purchase of noncontrolling interest in consolidated joint venture		22,988,000	$ 27,898,000
Additional Paid-in-Capital
Equity [Line Items]
Purchase of noncontrolling interest in consolidated joint venture		$ 20,447,000	$ 23,843,000
Warehouse / Distribution Facility
Equity [Line Items]
Number of properties | property		2	2
Purchase of remaining equity			$ 27,873,000
Series C Cumulative Convertible Preferred Stock
Equity [Line Items]
Series C cumulative convertible preferred, shares outstanding (in shares) | shares		1,935,400	1,935,400
Preferred stock, dividend per annum (in dollars per share) | $ / shares			$ 3.25
Series C cumulative convertible preferred, liquidation preference		$ 96,770,000	$ 96,770,000
Convertible preferred stock, conversion ratio (in shares) | shares		2.4339	2.4339
Preferred stock conversion, threshold conversion price percentage (at least)		1.25	1.25
Unvested share-based payment awards
Equity [Line Items]
Shares granted (in shares) | shares			50,505	46,440
Grant date fair value			$ 450,000	$ 480,000
At-The-Market Program
Equity [Line Items]
Sale of stock, authorized amount (up to)		$ 350,000,000	$ 350,000,000

Equity - Changes in Other Compr

Equity - Changes in Other Comprehensive Income (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 2,265,457	$ 2,391,003
Ending balance	2,160,512	2,318,723
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	9,483	17,689
Ending balance	6,197	16,200
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive income before reclassifications	2,499	3,888
Amounts of (income) reclassified from accumulated other comprehensive income to interest expense	$ (5,785)	$ (5,377)

Equity - Effects of Changes in

Equity - Effects of Changes in Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Equity [Abstract]
Net income attributable to LXP Industrial Trust shareholders	$ 5,426	$ (8,048)	$ 5,157	$ 3,118
Transfers from noncontrolling interests:
Increase in additional paid-in-capital for redemption of noncontrolling OP units			0	25
Change from net income attributable to shareholders and transfers from noncontrolling interests			$ 5,157	$ 3,143

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Real estate investment property, estimated cost in 2024	$ 65,600

Supplemental Disclosure of St_2

Supplemental Disclosure of Statement of Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Real Estate [Line Items]
Interest paid		$ 35,561	$ 25,780
Income taxes paid, net		588	757
Noncash increase to real estate investments under construction		32,474	$ 34,884
Noncash changes to real estate, at cost		4,605
Carrying balance of investment	$ 47,120	47,120		$ 48,495
Change in control of a subsidiary	2,503	2,503
Lombard Street Lots, LLC
Real Estate [Line Items]
Carrying balance of investment	$ 2,311	2,311		$ 0
Change in control of a subsidiary		$ 2,503

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - Subsequent Event $ in Thousands	1 Months Ended
	Jul. 31, 2024 USD ($) property
Subsequent Event [Line Items]
Proceeds from sale of properties | $	$ 28,600
Number of real estate properties sold | property	1