LXP Industrial Trust (LXP) 10-K 13 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 12, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period Ended Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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
Entity Address, Address Line Two	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 Well-known Seasoned User	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	true
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 2,625,426,441
Entity Common Stock, Shares Outstanding (in shares)		295,728,056
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Certain information contained in the Definitive Proxy Statement for LXP Industrial Trust's Annual Meeting of Shareholders, or an amendment on Form 10-K/A, is incorporated by reference in this Annual Report on Form 10-K in response to Part III, Items 10, 11, 12, 13 and 14, which will be filed with the Securities and Exchange Commission not later than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K.
Entity Central Index Key	0000910108
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock
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
Preferred shares - Series C
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

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	New York, New York
Auditor Firm ID	34

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Real estate, at cost	$ 4,176,294	$ 3,774,239
Real estate - intangible assets	318,444	314,525
Land held for development	82,827	80,743
Investments in real estate under construction	5,947	319,355
Real estate, gross	4,583,512	4,488,862
Less: accumulated depreciation and amortization	1,047,166	904,709
Real estate, net	3,536,346	3,584,153
Assets held for sale	0	9,168
Right-of-use assets, net	16,484	19,342
Cash and cash equivalents	101,836	199,247
Restricted cash	237	216
Short-term investments	0	130,140
Investments in non-consolidated entities	40,018	48,495
Deferred expenses, (net of accumulated amortization of $28,035 in 2024 and $21,667 in 2023)	39,820	35,008
Investment in a sales-type lease, net (allowance for credit loss of $61 in 2023)	0	63,464
Rent receivable - current	2,052	5,327
Rent receivable - deferred	85,757	80,421
Other assets	20,762	17,794
Total assets	3,843,312	4,192,775
Liabilities:
Mortgages and notes payable, net	54,930	60,124
Term loan payable, net	297,814	296,764
Senior notes payable, net	1,089,373	1,286,145
Trust preferred securities, net	127,893	127,794
Dividends payable	41,164	39,610
Liabilities held for sale	0	417
Operating lease liabilities	17,114	20,233
Accounts payable and other liabilities	57,055	57,981
Accrued interest payable	10,517	11,379
Deferred revenue - including below market leases (net of accumulated accretion of $18,292 in 2024 and $17,259 in 2023)	6,751	9,428
Prepaid rent	19,918	17,443
Total liabilities	1,722,529	1,927,318
Commitments and contingencies
Equity:
Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares, Series C Cumulative Convertible Preferred, liquidation preference $96,770 and 1,935,400 shares issued and outstanding	94,016	94,016
Common shares, par value $0.0001 per share; authorized 600,000,000 shares, 294,499,790 and 293,449,088 shares issued and outstanding in 2024 and 2023, respectively	29	29
Additional paid-in-capital	3,315,104	3,330,383
Accumulated distributions in excess of net income	(1,316,993)	(1,201,824)
Accumulated other comprehensive income	6,136	9,483
Total shareholders’ equity	2,098,292	2,232,087
Noncontrolling interests	22,491	33,370
Total equity	2,120,783	2,265,457
Total liabilities and equity	$ 3,843,312	$ 4,192,775

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Deferred expenses, accumulated amortization	$ 28,035	$ 21,667
Allowance for credit loss, sales-type lease		61
Liabilities:
Below market lease, accumulated accretion	$ 18,292	$ 17,259
Equity:
Preferred shares, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred shares, authorized shares (in shares)	100,000,000	100,000,000
Preferred shares, liquidation preference	$ 96,770	$ 96,770
Preferred shares, convertible preferred, shares issued (in shares)	1,935,400	1,935,400
Preferred shares, redeemable preferred, shares outstanding (in shares)	1,935,400	1,935,400
Common shares, par value (usd per share)	$ 0.0001	$ 0.0001
Common shares, authorized shares (in shares)	600,000,000	600,000,000
Common shares, shares issued (in shares)	294,499,790	293,449,088
Common shares, shares outstanding (in shares)	294,499,790	293,449,088

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Gross revenues:
Rental revenue	$ 354,353	$ 334,220	$ 313,992
Other revenue	4,105	6,283	7,253
Total gross revenues	358,458	340,503	321,245
Expense applicable to revenues:
Depreciation and amortization	(192,863)	(183,524)	(180,567)
Property operating	(60,513)	(58,394)	(54,870)
General and administrative	(40,045)	(36,334)	(38,714)
Transaction costs	(498)	(4)	(4,177)
Non-operating income	7,707	2,982	935
Interest and amortization expense	(66,477)	(46,389)	(45,417)
Debt satisfaction losses, net	0	(132)	(119)
Impairment charges	0	(16,490)	(3,037)
Change in allowance for credit loss	61	32	(93)
Gains on sales of properties	39,848	33,010	59,094
Gain on change in control of a subsidiary	209	0	0
Selling profit from sales-type leases	0	0	47,059
Income before benefit (provision) for income taxes and equity in earnings (losses) of non-consolidated entities	45,887	35,260	101,339
Benefit (provision) for income taxes	127	(703)	(1,102)
Equity in earnings (losses) of non-consolidated entities	(3,179)	1,366	16,006
Net income	42,835	35,923	116,243
Less net (income) loss attributable to noncontrolling interests	1,699	(5,540)	(2,460)
Net income attributable to LXP Industrial Trust shareholders	44,534	30,383	113,783
Dividends attributable to preferred shares - Series C	(6,290)	(6,290)	(6,290)
Allocation to participating securities	(322)	(230)	(186)
Net income attributable to common shareholders, basic	37,922	23,863	107,307
Net income attributable to common shareholders, diluted	$ 37,922	$ 23,863	$ 107,307
Net income attributable to common shareholders - per common share basic (usd per share)	$ 0.13	$ 0.08	$ 0.38
Weighted-average common shares outstanding - basic (in shares)	291,472,930	290,245,877	279,887,760
Net income attributable to common shareholders - per common share diluted (usd per share)	$ 0.13	$ 0.08	$ 0.38
Weighted-average common shares outstanding - diluted (in shares)	291,559,993	291,193,514	282,473,458

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 42,835	$ 35,923	$ 116,243
Other comprehensive income (loss):
Change in unrealized income (loss) on interest rate swaps, net	(3,338)	(6,847)	22,576
Company's share of other comprehensive income (loss) of non-consolidated entities	(9)	(1,359)	1,371
Other comprehensive income (loss)	(3,347)	(8,206)	23,947
Comprehensive income	39,488	27,717	140,190
Comprehensive (income) loss attributable to noncontrolling interests	1,699	(5,540)	(2,460)
Comprehensive income attributable to LXP Industrial Trust shareholders	$ 41,187	$ 22,177	$ 137,730

CONSOLIDATED STATEMENTS OF CHAN

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, 2021	$ 2,323,228	$ 94,016	$ 28	$ 3,252,506	$ (1,049,434)	$ (6,258)	$ 32,370
Beginning balance (in shares) at Dec. 31, 2021		1,935,400	283,752,726
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of partnership interest in real estate	7,814						7,814
Redemption of noncontrolling OP units for common shares	0			211			(211)
Redemption of noncontrolling OP units for common shares (in shares)			39,747
Purchase of noncontrolling interest in consolidated joint venture	(27,958)			(25,058)			(2,900)
Issuance of common shares and deferred compensation amortization, net (in shares)			20,580,816
Issuance of common shares and deferred compensation amortization, net	229,390		$ 2	229,388
Repurchase of common shares	(130,676)		$ (1)	(130,675)
Repurchase of common shares (in shares)			(12,102,074)
Repurchase of common shares to settle tax obligations	(6,285)			(6,285)
Repurchase of common shares to settle tax obligations (in shares)			(410,958)
Forfeiture of employee common shares	16				16
Forfeiture of employee common shares (in shares)			(140,947)
Dividends/ distributions	(144,716)				(143,452)		(1,264)
Net income (loss)	116,243				113,783		2,460
Other comprehensive income (loss)	22,576					22,576
Company's share of other comprehensive income (loss) of non-consolidated entities	1,371					1,371
Ending balance at Dec. 31, 2022	2,391,003	$ 94,016	$ 29	3,320,087	(1,079,087)	17,689	38,269
Ending 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	714						714
Redemption of noncontrolling OP units for common shares	(415)			3,393			(3,808)
Redemption of noncontrolling OP units for common shares (in shares)			832,571
Issuance of common shares and deferred compensation amortization, net (in shares)			1,286,648
Issuance of common shares and deferred compensation amortization, net	8,979			8,979
Repurchase of common shares to settle tax obligations	(2,076)			(2,076)
Repurchase of common shares to settle tax obligations (in shares)			(204,780)
Forfeiture of employee common shares	5				5
Forfeiture of employee common shares (in shares)			(184,661)
Dividends/ distributions	(160,470)				(153,125)		(7,345)
Net income (loss)	35,923				30,383		5,540
Other comprehensive income (loss)	(6,847)					(6,847)
Company's share of other comprehensive income (loss) of non-consolidated entities	(1,359)					(1,359)
Ending balance at Dec. 31, 2023	2,265,457	$ 94,016	$ 29	3,330,383	(1,201,824)	9,483	33,370
Ending 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	1,751						1,751
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 (in shares)			1,670,011
Issuance of common shares and deferred compensation amortization, net	10,152			10,152
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	8				8
Forfeiture of employee common shares (in shares)			(459,230)
Dividends/ distributions	(164,084)				(159,711)		(4,373)
Net income (loss)	42,835				44,534		(1,699)
Other comprehensive income (loss)	(3,338)					(3,338)
Company's share of other comprehensive income (loss) of non-consolidated entities	(9)					(9)
Ending balance at Dec. 31, 2024	$ 2,120,783	$ 94,016	$ 29	$ 3,315,104	$ (1,316,993)	$ 6,136	$ 22,491
Ending balance (in shares) at Dec. 31, 2024		1,935,400	294,499,790

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends (usd per share)	$ 0.525	$ 0.505	$ 0.485

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 42,835	$ 35,923	$ 116,243
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	196,629	186,540	183,419
Gains on sales of properties	(39,848)	(33,010)	(59,094)
Gain on change in control of a subsidiary	(209)	0	0
Change in allowance for credit loss	(61)	(32)	93
Selling profit from sales-type leases	0	0	(47,059)
Debt satisfaction losses, net	0	132	119
Impairment charges	0	16,490	3,037
Straight-line rents	(7,097)	(9,471)	(11,363)
Amortization of right of use assets	4,166	4,136	3,980
Other non-cash expense, net	7,521	5,900	6,072
Equity in (earnings) losses of non-consolidated entities	3,179	(1,366)	(16,006)
Distributions of accumulated earnings from non-consolidated entities	1,646	4,614	17,024
Changes in assets and liabilities:
Change in accounts payable and other liabilities	2,914	4,407	(1,574)
Change in rent receivable and prepaid rent, net	5,639	(488)	623
Change in accrued interest payable	(862)	2,199	700
Other adjustments, net	(5,265)	(6,528)	(1,945)
Net cash provided by operating activities	211,187	209,446	194,269
Cash flows from investing activities:
Acquisition of real estate, including intangible assets	(161,979)	(15,018)	(132,026)
Investment in real estate under construction	(105,711)	(120,793)	(276,706)
Capital expenditures	(17,782)	(17,937)	(32,562)
Net proceeds from sale of properties	177,473	97,758	194,472
Realization of net investment in a sales-type lease	65,828	0	0
Principal payments on loans receivable	0	1,462	27
Investments in non-consolidated entities, net	(1,312)	(3,648)	(3,225)
Distributions from non-consolidated entities in excess of accumulated earnings	7,266	10,009	19,930
Payments of deferred leasing costs	(7,212)	(6,151)	(5,156)
Investment in held-to-maturity securities	130,000
Investment in held-to-maturity securities		(130,000)	0
Change in real estate deposits, net	(168)	867	(1,673)
Net cash provided by (used in) investing activities	86,403	(183,451)	(236,919)
Cash flows from financing activities:
Dividends to common and preferred shareholders	(158,157)	(151,932)	(142,461)
Principal amortization payments	(5,373)	(12,265)	(11,275)
Repayment of senior notes	(198,932)	0	0
Revolving credit facility borrowings	85,000	125,000	280,000
Revolving credit facility payments	(85,000)	(125,000)	(280,000)
Proceeds from issuance of senior notes	0	298,269	0
Deferred financing costs	0	(5,818)	(3,626)
Cash distributions to noncontrolling interests	(4,373)	(7,345)	(1,264)
Cash contributions from noncontrolling interests	1,751	714	7,814
Repurchase of common shares	0	0	(130,675)
Purchase of noncontrolling interest	(27,875)	0	(27,958)
Issuance of common shares, net of costs and repurchases to settle tax obligations	(2,021)	(2,661)	215,574
Net cash provided by (used in) financing activities	(394,980)	118,962	(93,871)
Change in cash, cash equivalents and restricted cash	(97,390)	144,957	(136,521)
Cash, cash equivalents and restricted cash, at beginning of year	199,463	54,506	191,027
Cash, cash equivalents and restricted cash, at end of year	$ 102,073	$ 199,463	$ 54,506

The Company and Financial State

The Company and Financial Statement Presentation	12 Months Ended
	Dec. 31, 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 facilities. Class A real estate encompasses attractive and efficient buildings of high quality that are well-designed and constructed with above-average material, workmanship and finishes and are well-maintained and managed. As of December 31, 2024, the Company had ownership interests in approximately 119 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Consolidation. The Company's consolidated financial statements are prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“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 December 31, 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 of which three projects were substantially completed and placed into service. 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 consolidated financial statements. In 2023, the Company purchased the remaining 0.925% noncontrolling interest in Lepercq Corporate Income Fund L.P. (“LCIF”) consisting of 730,623.5 LCIF operating partnership (“OP”) units by issuing 822,627 common shares at $9.47 per share, for a total value of approximately $7,800. As the Company previously consolidated LCIF, the acquisition of the noncontrolling ownership interest was recorded as an equity transaction with the carrying balance of noncontrolling interest, net of transaction costs, of $3,344 recorded as additional paid-in-capital. There were no LCIF OP units outstanding after the transaction. 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 on the consolidated balance sheets as of December 31, 2024 and 2023: December 31, 2024 December 31, 2023 Real estate, net $ 380,563 $ 535,118 Total assets $ 392,791 $ 626,442 Total liabilities $ 8,603 $ 19,549 In addition, the Company acquires, from time to time, properties using a reverse like-kind exchange structure pursuant to Section 1031 of the Internal Revenue Code (a “reverse 1031 exchange”) and, as such, the properties are in the possession of an Exchange Accommodation Titleholder (“EAT”) until the reverse 1031 exchange is completed. The EAT is classified as a VIE as it is a “thinly capitalized” entity. The Company consolidates the EAT because it is the primary beneficiary as it has the ability to control the activities that most significantly impact the EAT's economic performance and can collapse the 1031 exchange structure at any time. The assets of the EAT primarily consist of leased property (net real estate and intangibles). Revenue Recognition. The Company recognizes operating lease revenue on a straight-line basis over the term of the lease unless another systematic and rational basis is more representative of the time pattern in which the use benefit is derived from the leased property. Revenue is recognized on a contractual basis for leases with escalations tied to a consumer price index with no floor. The Company evaluates the collectability of its rental payments and recognizes revenue on a cash basis when the Company believes it is no longer probable that it will receive substantially all of the remaining lease payments. Renewal options in leases are excluded from the calculation of straight-line rent if the renewals are not reasonably certain. If the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. If the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition when possession or control of the space is turned over to the tenant for tenant work to begin. The lease incentive is recorded as a deferred expense and amortized as a reduction of revenue on a straight-line basis over the respective lease term. The Company recognizes lease termination fees as rental revenue in the period received and writes off unamortized lease-related intangible and other lease-related account balances, provided there are no further Company obligations under the lease. Otherwise, such fees and balances are recognized on a straight-line basis over the remaining obligation period with the termination payments being recorded as a component of rent receivable-deferred on the consolidated balance sheets. Sales-type lease income is recognized on an effective interest rate basis at a constant rate of return over the term of the applicable leases using the rate implicit in the leases. The investment in a sales-type lease balance is increased every period to reflect income on the net investment in the lease and reduced by the amount of lease payments collected during the period. Earnings Per Share . Basic net income (loss) per share is computed under the two-class method by dividing net income (loss) reduced by preferred dividends and amounts allocated to certain non-vested share-based payment awards, if applicable, by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share amounts are similarly computed but include the effect, when dilutive, of in-the-money common share options and non-vested common shares, unsettled common shares sold in forward sales transactions, OP units and put options of certain convertible securities. 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 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 estimate of credit losses for investments in sales-type leases, the allocation of incurred and future shared development costs to land parcels, and the useful lives of long-lived assets. Actual results could differ materially from those estimates. Acquisition of Real Estate. The fair value of the real estate acquired, which includes the impact of fair value adjustments for assumed mortgage debt related to property acquisitions, is allocated to the acquired tangible assets, consisting of land, building and improvements and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place leases and value of tenant relationships, based in each case on their fair values. The Company's acquisitions are primarily considered asset acquisitions, thus acquisition costs are capitalized. The fair value of the tangible assets of an acquired property (which includes land, building and improvements and fixtures and equipment) is determined by valuing the property as if it were vacant. The “as-if-vacant” value is then allocated to land and building and improvements based on management's determination of relative fair values of these assets. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions. Management generally retains a third party to assist in the allocations. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market lease values are recorded based on the difference between the current in-place lease rent and management's estimate of current market rents. Below-market lease intangibles are recorded as part of deferred revenue and amortized into rental revenue over the non-cancelable periods and bargain renewal periods of the respective leases. Above-market leases are recorded as part of intangible assets and amortized as a direct charge against rental revenue over the non-cancelable portion of the respective leases. The aggregate value of other acquired intangible assets, consisting of in-place leases and tenant relationship values, is measured based on the lease revenue and market value of lease up costs avoided as a result of having an in-place lease on the acquisition date. This aggregate value is allocated between in-place lease values and tenant relationship values based on management's evaluation of the specific characteristics of each tenant's lease. The value of in-place leases is amortized to expense over the remaining non-cancelable periods and any bargain renewal periods of the respective leases. The value of tenant relationships is amortized to expense over the applicable lease term plus expected renewal periods. Depreciation is determined by the straight-line method over the remaining estimated economic useful lives of the properties. The Company generally depreciates its real estate assets over periods ranging up to 40 years. Impairment of Real Estate. The Company evaluates the carrying value of all tangible and intangible real estate assets held for investment for possible impairment when an event or change in circumstance has occurred that indicates its carrying value may not be recoverable. The Company considers the strategic decisions regarding the future plans to sell properties and other market factors. The Company regularly updates significant estimates and assumptions including rental rates, capitalization rates and discount rates, which are included in the anticipated future undiscounted cash flows derived from the asset. If such cash flows are less than the asset's carrying value, an impairment charge is recognized to the extent by which the asset's carrying value exceeds its estimated fair value, which may be below the balance of any non-recourse financing. Estimating future cash flows and fair values is highly subjective and such estimates could differ materially from actual results. Investments in Non-Consolidated Entities . The Company uses the equity method of accounting for those joint ventures where it exercises significant influence but does not have control. If the Company's investment in the entity is insignificant and the Company has no influence over the control of the entity then the entity is accounted for under the cost method. Impairment of Equity Method Investments. The Company assesses whether there are indicators that the value of its equity method investments may be impaired. An impairment charge is recognized only if the Company determines that a decline in the value of the investment below its carrying value is other-than-temporary. The assessment of impairment is highly subjective and involves the application of significant assumptions and judgments about the Company's intent and ability to recover its investment given the nature and operations of the underlying investment, including the level of the Company's involvement therein, among other factors. To the extent an impairment is deemed to be other-than-temporary, the loss is measured as the excess of the carrying amount of the investment over the estimated fair value of the investment. Fair Value Measurements. The Company follows the guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures (“Topic 820”), to determine the fair value of financial and non-financial instruments. Topic 820 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. Topic 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 - quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 - observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 - unobservable inputs, which are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as considering counterparty credit risk. The Company has formally elected to apply the portfolio exception within Topic 820 with respect to measuring counterparty risk for all of its derivative transactions subject to master netting arrangements. The Company estimates the fair value of its real estate assets, including non-consolidated real estate assets, by using income and market valuation techniques. The Company may estimate fair values using market information such as recent sale contracts (Level 2 inputs) or recent sale offers or discounted cash flow models, which primarily rely on Level 3 inputs. The cash flow models include estimated cash inflows and outflows over a specified holding period. These cash flows may include contractual rental revenues, projected future rental revenues and expenses and forecasted tenant improvements and lease commissions based upon market conditions determined through discussion with local real estate professionals, experience the Company has with its other owned properties in such markets and expectations for growth. Capitalization rates and discount rates utilized in these models are estimated by management based upon rates that management believes to be within a reasonable range of current market rates for the respective properties based upon an analysis of factors such as property and tenant quality, geographical location and local supply and demand observations. To the extent the Company under-estimates forecasted cash out flows (tenant improvements, lease commissions and operating costs) or over-estimates forecasted cash inflows (rental revenue rates), the estimated fair value of its real estate assets could be overstated. Cost Capitalization. The Company capitalizes direct and indirect project costs associated with construction of a property or improvements, including interest and compensation costs of employees directly contributing to the completion of each construction project, up to the time the property is stabilized. These costs are included within investments in real estate under construction for development projects and in construction in progress within real estate, at cost for improvements on the consolidated balance sheets. If activities and costs incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once construction is substantially complete on a vacant space and it is ready for its intended use, costs are no longer capitalized. The Company will reclassify a development project to real estate, at cost from investments in real estate under construction once in service upon stabilization. The Company considers stabilization to occur upon the earlier of 90% occupancy of the property or one-year from cessation of major construction activities. If some portions of a development project are substantially complete and ready for use and other portions have not yet reached that stage, we cease capitalizing costs on the completed portion of the project but continue to capitalize costs for the incomplete portion. When a portion of the development project is substantially complete and ready for its intended use, the project is placed into service and depreciation commences. The Company incurs common development costs that include actual costs incurred and estimates of future common development costs benefiting individual properties within a development project. Common development costs, if they cannot be specifically identified, are allocated to each sold parcel based upon its relative sales value. For purposes of allocating common development costs, estimates of future common development costs are re-evaluated throughout the development life cycle, with adjustments being allocated prospectively to the land parcels being developed. Properties Held For Sale. Assets and liabilities of properties that meet various held for sale criteria, including whether it is probable that a sale will occur within 12 months, are presented separately on the consolidated balance sheets. Properties are held for sale for a period longer than 12 months if events or circumstances out of the Company's control occur that delay the sale and while management continues to be committed to the plan of sale and is performing actions necessary to respond to the conditions causing the delay the properties held for sale remain salable in their current condition. The operating results of these properties are reflected as discontinued operations on the consolidated statements of operations only if the sale of these assets represents a major strategic shift in operations; if not, the operating results are included in continuing operations. Properties classified as held for sale are carried at the lower of net carrying value or estimated fair value less costs to sell and depreciation and amortization are no longer recognized. Held for sale properties are evaluated quarterly to ensure that properties continue to meet the held for sale criteria. If properties are required to be reclassified from held for sale to held for use due to changes to a plan of sale, they are recorded at the lower of fair value or the carrying amount before the property was classified as held for sale, adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used. Properties that do not meet the held for sale criteria are accounted for as operating properties. Deferred Expenses. Deferred expenses consist primarily of revolving line of credit debt and leasing costs. Debt costs are amortized using the straight-line method, which approximates the interest method, over the terms of the debt instruments and leasing costs are amortized over the term of the related lease. Investment in Sales-Type Leases . Investments in sales-type leases are accounted for under ASC 842 “Leases” (“ASC 842”). Upon lease commencement or lease modification, the Company assesses lease classification to determine whether the lease should be classified as a direct financing, sales-type or operating lease. As required by ASC 842, the Company separately assesses the land and building components of the property to determine the classification of each component unless the effect of separately accounting for the land component will be insignificant. If the lease is determined to be a direct financing or sales-type lease, the Company records a net investment in the lease, which is equal to the sum of the lease receivable and the unguaranteed residual asset, discounted at the rate implicit in the lease. Any difference between the fair value of the asset and the net investment in the lease is considered selling profit or loss and is either recognized upon execution of the lease or deferred and recognized over the life of the lease, depending on the lease classification and the collectability of the minimum lease payments. Initial direct costs are recognized as an expense if, at the commencement date, the fair value of the underlying asset is different from its carrying amount. If the fair value of the underlying asset equals its carrying amount, initial direct costs are deferred at the commencement date and included in the measurement of the net investment in the lease. Allowance for Credit Losses. On January 1, 2020, the Company adopted ASC 326 “Financial Instruments-Credit Losses” (“ASC 326” or “CECL”), which requires that the Company measures and records current expected credit losses for its investments, the scope of which includes investment in sales-type leases in its consolidated balance sheets. The Company has elected to use a discounted cash flow model to estimate the allowance for credit losses. This model requires us to develop cash flows which is used to project estimated credit losses over the life of the lease and discount these cash flows at the asset’s effective interest rate. The Company then records an allowance equal to the difference between the amortized cost basis of the asset and the present value of the expected credit loss cash flows. Expected losses within the Company's cash flows are determined by estimating the probability of default of the tenant and their parent guarantors over the term of the lease. The Company evaluates the collectability of its investment in sales-type leases, net based various probability weighted default scenarios that include, but are not limited to, current payment status, the financial strength of its tenant and its parent guarantors, current economic conditions and 20 years of historical information on corporate defaults. The Company is unable to use its historical data to estimate losses as it has no relevant loss history to date. The allowance is recorded as a reduction to our investment in sales-type leases, net, on the consolidated balance sheets. The Company is required to update its allowance on a quarterly basis with the resulting change being recorded on the consolidated statement of operations for the relevant period. The Company regularly evaluates the extent and impact of any credit deterioration that could affect performance and the value of its investment in sales-type leases, as well as the financial and operating capability of the tenant. The Company also evaluates the tenant’s competency in managing and operating the secured property and considers the overall economic environment, real estate sector and geographic sub-market in which the secured property is located. If a tenant's credit deteriorates and it defaults under the terms of the sales-type lease, the Company puts the lease in non-accrual status until it is determined that all payments under the lease are probable of being collected. Write-offs are deducted from the allowance in the period in which they are deemed uncollectible. Recoveries previously written off are recorded when received. Derivative Financial Instruments . The Company accounts for its interest rate swap agreements in accordance with FASB ASC Topic 815, Derivatives and Hedging (“Topic 815”). In accordance with Topic 815, these agreements are carried on the balance sheet at their respective fair values, as an asset if fair value is positive, or as a liability if fair value is negative. If the interest rate swap is designated as a cash flow hedge, the portion of the interest rate swap's change in fair value is reported as a component of other comprehensive income (loss). The Company also accounts for its share of cash flow hedges from non-consolidated entities as part of investment in non-consolidated entities and accumulated other comprehensive income (loss). Upon entering into hedging transactions, the Company documents the relationship between the interest rate swap agreement and the hedged item. The Company also documents its risk-management policies, including objectives and strategies, as they relate to its hedging activities. The Company assesses, both at inception of a hedge and on an ongoing basis, whether or not the hedge is highly effective. The Company will discontinue hedge accounting on a prospective basis with changes in the estimated fair value reflected in earnings when (1) it is determined that the derivative is no longer effective in offsetting cash flows of a hedged item (including forecasted transactions), (2) it is no longer probable that the forecasted transaction will occur or (3) it is determined that designating the derivative as an interest rate swap is no longer appropriate. The Company does and may continue to utilize interest rate swap and cap agreements to manage interest rate risk, but does not anticipate entering into derivative transactions for speculative trading purposes. Stock Compensation. The Company maintains an equity participation plan. Non-vested share grants generally vest either based upon (1) time, (2) performance and/or (3) market conditions. All share-based payments to employees are recognized on the consolidated statements of operations based on their fair values. The Company has made an accounting policy election to account for share-based award forfeitures in compensation costs when they occur. Tax Status. The Company has made an election to qualify, and believes it is operating so as to qualify, as a REIT for federal income tax purposes. Accordingly, the Company generally 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 Sections 856 through 860 of 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 under the Code. As such, the Company is subject to federal and state income taxes on the income from these activities. Income taxes, primarily related to the Company's taxable REIT subsidiaries, are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Cash and Cash Equivalents. The Company considers all highly liquid instruments with maturities of three months or less from the date of purchase to be cash equivalents. Restricted Cash. Restricted cash is comprised primarily of cash balances held by lenders. Short-Term Investments. Short-term investments classified as held-to-maturity securities consist of term deposits and treasury bills that the Company has the ability and intent to hold to maturity. These short-term investments have an original maturity of greater than three months but less than 12 months and are recorded in short-term investments on the consolidated balance sheet. Held-to-maturity securities are recorded at amortized cost, which approximates fair value. The estimate of expected losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. We do not measure expected credit losses on held-to-maturity securities in which historical credit loss information adjusted for current conditions and reasonable and supportable forecasts results in an expectation that nonpayment of the amortized cost basis is zero. Environmental Matters. Under various federal, state and local environmental laws, statutes, ordinances, rules and regulations, an owner of real property may be liable for the costs of removal or remediation of certain hazardous or toxic substances at, on, in or under such property as well as certain other potential costs relating to hazardous or toxic substances. These liabilities may include government fines, penalties and damages for injuries to persons and adjacent property. Such laws often impose liability without regard to whether the owner knew of, or was responsible for, the presence or disposal of such substances. Although most of the tenants of properties in which the Company has an interest are primarily responsible for any environmental damage and claims related to the leased premises, in the event of the bankruptcy or inability of the tenant of such premises to satisfy any obligations with respect to such environmental liability, or if the tenant is not responsible, the Company's property owner subsidiary may be required to satisfy any such obligations, should they exist. In addition, the property owner subsidiary, as the owner of such a property, may be held directly liable for any such damages or claims irrespective of the provisions of any lease. As of December 31, 2024, the Company was not aware of any environmental matter relating to any of its investments that would have a material impact on the consolidated financial statements. Segment Reporting. The Company operates in one operating segment, focused on single-tenant real estate assets. Recently Issued Accounting Guidance . In November 2023, the 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. The Company adopted ASU 2023-07 and the adoption of this ASU did not have a material impact on the consolidated financial statements. See the enhanced disclosure in Note 15 "Segment Reporting".

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 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 each of the years in the three-year period ended December 31, 2024: 2024 2023 2022 BASIC: Net income attributable to common shareholders $ 37,922 $ 23,863 $ 107,307 Weighted-average number of common shares outstanding 291,472,930 290,245,877 279,887,760 Net income attributable to common shareholders - per common share basic $ 0.13 $ 0.08 $ 0.38 2024 2023 2022 DILUTED: Net income attributable to common shareholders - basic $ 37,922 $ 23,863 $ 107,307 Impact of assumed conversions — (58) 156 Net income attributable to common shareholders $ 37,922 $ 23,805 $ 107,463 Weighted-average common shares outstanding - basic 291,472,930 290,245,877 279,887,760 Effect of dilutive securities: Unvested share-based payment awards and options 87,063 127,251 457,597 Shares issuable under forward sales agreements — — 1,274,842 Operating Partnership Units — 820,386 853,259 Weighted-average common shares outstanding - diluted 291,559,993 291,193,514 282,473,458 Net income attributable to common shareholders - per common share diluted $ 0.13 $ 0.08 $ 0.38 For per common share amounts, 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 for each of the years in the three-year period ended December 31, 2024: Years Ended December 31, 2024 2023 2022 Preferred shares - Series C 4,710,570 4,710,570 4,710,570

Investments in Real Estate

Investments in Real Estate	12 Months Ended
	Dec. 31, 2024
Real Estate [Abstract]
Investments in Real Estate	Investments in Real Estate The Company's real estate, net, consists of the following at December 31, 2024 and 2023: 2024 2023 Real estate, at cost: Buildings and building improvements $ 3,765,387 $ 3,424,334 Land, land estates and land improvements 399,685 348,133 Construction in progress 11,222 1,772 Real estate intangibles: In-place lease values 308,266 303,457 Tenant relationships 9,498 10,388 Above-market leases 680 680 Land held for development 82,827 80,743 Investments in real estate under construction 5,947 319,355 4,583,512 4,488,862 Accumulated depreciation and amortization (1) (1,047,166) (904,709) Real estate, net $ 3,536,346 $ 3,584,153 (1) Includes accumulated amortization of real estate intangible assets of $209,172 and $191,332 in 2024 and 2023, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $25,126 in 2025, $21,518 in 2026, $15,964 in 2027, $11,879 in 2028 and $10,737 in 2029. The Company had below-market leases, net of accumulated accretion, which are included in deferred revenue, of $6,722 and $9,385, respectively, as of December 31, 2024 and 2023. The estimated accretion for the next five years: Years ending December 31, Estimated Accretion 2025 $ 2,568 2026 1,215 2027 969 2028 681 2029 681 $ 6,114 The Company acquired or completed and placed into service the following assets during 2024 and 2023: 2024: Market (% owned) Acquisition/ Placed in Service Date Initial Cost Basis (1) Primary Lease Expiration Land Building and Improvements Lease in-place Value Intangible 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 — Central Florida (100%) (3) July 2024 12,401 N/A 2,752 9,649 — Columbus, OH (100%) August 2024 23,879 10/2029 3,113 20,766 — Savannah, GA (100%) October 2024 34,267 01/2034 5,612 25,602 3,053 Atlanta, GA (100%) November 2024 47,897 08/2027 2,728 41,180 3,989 Atlanta, GA (100%) November 2024 30,238 05/2029 2,378 25,861 1,999 Houston, TX (100%) November 2024 45,202 02/2034 6,084 28,526 10,592 Greenville/Spartanburg, SC (100%) (4) December 2024 66,324 12/2036 3,163 63,161 — $ 550,520 $ 62,281 $ 468,606 $ 19,633 Weighted-average life of intangible assets (years) 7.3 (1) Initial basis excludes certain remaining costs, such as tenant improvements, lease costs and developer incentive fees or partner promotes, if any. (2) The facility was placed in service vacant one year after the completion of base building construction in accordance with the Company's policy. (3) During 2024, the remaining portion of the facility, representing 58% of the facility, was placed in service vacant one year after the completion of base building construction. During 2023, a 57,690 square foot portion of the facility, representing 42% of the facility, was occupied by a tenant and placed into service. (4) During 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 facility subject to a 12-year lease, which was occupied by the tenant and placed into service in December 2024. In addition, during 2024, the Company acquired the fee interest in the land underlying its previously ground leased asset in Orlando, Florida and an additional land parcel with a 145,974 square foot tenant-constructed expansion for $7,609. 2023: Market (% owned) Acquisition/ Placed in Service Date Initial Primary Lease Expiration Land Building and Improvements Phoenix, AZ (100%) (1) March 2023 $ 37,173 08/2033 $ 7,552 $ 29,621 Dallas, TX (100%) July 2023 15,018 N/A 2,100 12,918 Columbus, OH (100%) (1) October 2023 64,524 10/2033 6,536 57,988 Greenville/Spartanburg, SC (100%) (1) October 2023 21,676 02/2029 1,795 19,881 Central Florida (100%) (1)(2) December 2023 7,985 01/2029 1,961 6,024 $ 146,376 $ 19,944 $ 126,432 (1) Initial basis excludes certain remaining costs, such as tenant improvements, lease costs and developer incentive fees or partner promotes, if any. (2) Represents a portion of the Central Florida development project placed into service. At December 31, 2024, the Company incurred $5,947 related to infrastructure development costs at the Reems & Olive project that is recorded in investments in real estate under construction on the consolidated balance sheets. As of December 31, 2024, the details of the land held for industrial development are as follows (in $000's, except acres): Project (% owned) Market Approximate Acres (unaudited) GAAP Investment Balance as of 12/31/2024 LXP Amount Funded as of 12/31/2024 (1) Consolidated: Reems & Olive (95.5%) Phoenix, AZ 315 $ 75,324 $ 74,175 Mt. Comfort Phase II (80%) Indianapolis, IN 116 5,771 4,658 ATL Fairburn (100%) Atlanta, GA 14 1,732 1,768 445 $ 82,827 $ 80,601 (1) Excludes noncontrolling interests' share.

Dispositions and Impairment

Dispositions and Impairment	12 Months Ended
	Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Dispositions and Impairment	Dispositions and Impairment For the years ended December 31, 2024, 2023 and 2022, the Company disposed of its interests in various properties for an aggregate gross disposition price of $181,050, $100,152 and $196,989, respectively, which resulted in gains on sales of $39,848, $33,010 and $59,094, respectively. The Company did not have properties classified as held for sale at December 31, 2024 and had two properties classified as held for sale at December 31, 2023. Assets and liabilities of the held for sale properties consisted of the following: December 31, 2023 Assets: Real estate, at cost $ 9,018 Other 150 Total assets held for sale $ 9,168 Liabilities: Accounts payable and other liabilities $ 5 Deferred revenue 53 Prepaid rent 359 Total liabilities held for sale $ 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 prolonged 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	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [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 December 31, 2024 and 2023, aggregated by the level in the fair value hierarchy within which those measurements fall: Fair Value Measurements Using Description 2024 (Level 1) (Level 2) (Level 3) Interest rate swap assets $ 6,134 $ — $ 6,134 $ — Fair Value Measurements Using Description 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 December 31, 2024 and 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 December 31, 2024 and 2023: As of December 31, 2024 As of December 31, 2023 Carrying Fair Value Carrying Fair Value Assets Investment in a sales-type lease, net $ — $ — $ 63,464 $ 62,500 Liabilities Debt $ 1,570,010 $ 1,459,062 $ 1,770,827 $ 1,630,066 The fair value of the Company's investment in a sales-type lease, net was 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, Short-Term Investments, Accounts Receivable and Accounts Payable . The Company estimates that the fair value of cash equivalents, restricted cash, short-term investments, 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	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [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 December 31, 2024 2024 2023 2024 2023 2022 NNN MFG Cold JV L.P. (“MFG Cold JV”) (1) 20% $ 10,428 $ 19,693 $ (3,250) $ (3,300) $ (2,050) NNN Office JV L.P. (“Office JV”) (2) 20% 15,189 16,237 504 508 18,156 Etna Park 70 LLC (3) 90% 9,732 10,320 (264) (258) (137) Etna Park 70 East LLC (4) 90% 2,360 2,245 (167) (192) (174) BSH Lessee L.P. (5) —% — — — 4,608 211 Lombard Street Lots, LLC (6) 44.1% 2,309 — (2) — — $ 40,018 $ 48,495 $ (3,179) $ 1,366 $ 16,006 (1) MFG Cold JV is a joint venture formed in 2021 that owns special purpose industrial properties formerly owned by the Company. During 2024 MFG Cold JV sold one asset and the Company recognized its share of gain on sale of $9 in connection with the disposition of the asset, and, in addition, the Company recognized its share of a gain on debt satisfaction of $555 within equity in earnings (losses) of non-consolidated entities within its consolidated statement of operations. (2) Office JV is a joint venture formed in 2018 that owns office properties formerly owned by the Company. During 2024 and 2023, Office JV sold three and one assets, respectively, and the Company recognized its share of aggregate gains on sale of $1,382 and $1,010, respectively, within equity in earnings (losses) of non-consolidated entities within its consolidated statements of operations. (3) Joint venture formed in 2017 with a developer entity to acquire a parcel of land. In the second quarter of 2023, the joint venture commenced development of a 250,020 square foot industrial speculative development project for an estimated cost of $30,200. During 2023, the Company's wholly owned subsidiary purchased the land and building improvements for approximately $15,897 and recorded it in real estate, at cost on its consolidated balance sheets. (4) Joint venture formed in 2019 with a developer entity to acquire a parcel of land. (5) A joint venture investment that sold its sole asset in January 2023 and the Company recognized its 25% share of the gain on sale of $4,791 within equity in earnings (losses) of non-consolidated entities within its consolidated statements of operations. (6) The joint venture holds an interest in a parking garage in Baltimore, MD. In June 2024, the Company determined it no longer controlled and ceased to consolidate the operations of Lombard Street Lots, LLC in its 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.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases 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. For the years ended December 31, 2024 and 2023, no accounts receivable were written off and for the year ended December 31, 2022, the Company wrote off an aggregate of $417 of accounts receivable, net, relating to tenant defaults. 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 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 each of the three years ended December 31, 2024, 2023 and 2022, the Company incurred nominal or no 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 any of its properties. Sales-Type Leases. As of December 31, 2024, the Company had no leases that qualify as a sales-type lease. As of December 31, 2022, the Company entered into one ground lease for an industrial development land parcel located in the Phoenix, Arizona market that was 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 contained a purchase option starting on the second anniversary date of the lease and ending on the third anniversary date which was determined not reasonably certain to be exercised at lease inception. The Company recognized $36,875 in selling profit from sales-type leases and $4,119 of direct costs to enter into the lease within transaction costs on the consolidated statements of operations. During 2024, the tenant executed the purchase option within their lease and purchased the property for $86,522, which qualified as a lease modification. The Company recognized $14,991 of additional income from a sales-type lease as part of rental revenue in its 2024 consolidated statement of operations, which included $5,604 of estimated development obligations that will be substantially completed subsequent to the execution of the purchase option. In 2022, the Company had two tenants that exercised the purchase option within their lease and purchased the assets for an aggregate price of $34,841. The purchase options were not reasonably certain to be exercised at the commencement date of each lease, resulting in modifications of the operating leases. As a result of these modifications to the leases, the Company re-evaluated the lease classifications and classified both leases as sales-type leases. The Company recognized an aggregate of $10,184 in selling profit from sales-type leases in its consolidated statements of operations related to these transactions for the year ended December 31, 2022. Rental Revenue Classification. The following table presents the Company’s classification of rental revenue for its operating and sales-type leases for the years ended December 31, 2024, 2023 and 2022: Years Ended December 31, Classification 2024 2023 2022 Fixed $ 280,433 $ 275,186 $ 267,644 Sales-type lease income 22,027 7,427 1,936 Variable (1) 51,893 51,607 44,412 Total $ 354,353 $ 334,220 $ 313,992 (1) Primarily comprised of tenant reimbursements. Future fixed rental receipts for operating leases, assuming no new or re-negotiated leases as of December 31, 2024 were as follows: Year ending December 31, Operating 2025 $ 282,180 2026 271,036 2027 236,526 2028 199,846 2029 172,801 Thereafter 532,790 Total $ 1,695,179 The above minimum lease payments 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, if not reasonably certain. 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 December 31, 2024. The leases have remaining lease terms of up to 32 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: Years Ended December 31, 2024 2023 Weighted-average remaining lease term (years) Operating leases 8.7 8.7 Weighted-average discount rate Operating leases 4.2 % 4.0 % The components of lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows: Income Statement Classification Fixed Variable Total 2024: Property operating $ 3,487 $ 15 $ 3,502 General and administrative (1) 1,642 262 1,904 Total $ 5,129 $ 277 $ 5,406 2023: Property operating $ 3,539 $ 7 $ 3,546 General and administrative 1,521 280 1,801 Total $ 5,060 $ 287 $ 5,347 2022: Property operating $ 3,543 $ — $ 3,543 General and administrative 1,520 122 1,642 Total $ 5,063 $ 122 $ 5,185 (1) The general and administrative lease expense excludes a reduction of $718 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 $3,295 in 2024 and $3,320 in each of the years ended December 31, 2023 and 2022. The following table shows the Company's maturity analysis of its operating lease liabilities as of December 31, 2024: Year ending December 31, Operating Leases 2025 $ 5,424 2026 4,451 2027 3,968 2028 1,356 2029 508 Thereafter 5,288 Total lease payments 20,995 Less: Imputed interest (3,881) Present value of lease liabilities $ 17,114
Leases	Leases 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. For the years ended December 31, 2024 and 2023, no accounts receivable were written off and for the year ended December 31, 2022, the Company wrote off an aggregate of $417 of accounts receivable, net, relating to tenant defaults. 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 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 each of the three years ended December 31, 2024, 2023 and 2022, the Company incurred nominal or no 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 any of its properties. Sales-Type Leases. As of December 31, 2024, the Company had no leases that qualify as a sales-type lease. As of December 31, 2022, the Company entered into one ground lease for an industrial development land parcel located in the Phoenix, Arizona market that was 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 contained a purchase option starting on the second anniversary date of the lease and ending on the third anniversary date which was determined not reasonably certain to be exercised at lease inception. The Company recognized $36,875 in selling profit from sales-type leases and $4,119 of direct costs to enter into the lease within transaction costs on the consolidated statements of operations. During 2024, the tenant executed the purchase option within their lease and purchased the property for $86,522, which qualified as a lease modification. The Company recognized $14,991 of additional income from a sales-type lease as part of rental revenue in its 2024 consolidated statement of operations, which included $5,604 of estimated development obligations that will be substantially completed subsequent to the execution of the purchase option. In 2022, the Company had two tenants that exercised the purchase option within their lease and purchased the assets for an aggregate price of $34,841. The purchase options were not reasonably certain to be exercised at the commencement date of each lease, resulting in modifications of the operating leases. As a result of these modifications to the leases, the Company re-evaluated the lease classifications and classified both leases as sales-type leases. The Company recognized an aggregate of $10,184 in selling profit from sales-type leases in its consolidated statements of operations related to these transactions for the year ended December 31, 2022. Rental Revenue Classification. The following table presents the Company’s classification of rental revenue for its operating and sales-type leases for the years ended December 31, 2024, 2023 and 2022: Years Ended December 31, Classification 2024 2023 2022 Fixed $ 280,433 $ 275,186 $ 267,644 Sales-type lease income 22,027 7,427 1,936 Variable (1) 51,893 51,607 44,412 Total $ 354,353 $ 334,220 $ 313,992 (1) Primarily comprised of tenant reimbursements. Future fixed rental receipts for operating leases, assuming no new or re-negotiated leases as of December 31, 2024 were as follows: Year ending December 31, Operating 2025 $ 282,180 2026 271,036 2027 236,526 2028 199,846 2029 172,801 Thereafter 532,790 Total $ 1,695,179 The above minimum lease payments 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, if not reasonably certain. 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 December 31, 2024. The leases have remaining lease terms of up to 32 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: Years Ended December 31, 2024 2023 Weighted-average remaining lease term (years) Operating leases 8.7 8.7 Weighted-average discount rate Operating leases 4.2 % 4.0 % The components of lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows: Income Statement Classification Fixed Variable Total 2024: Property operating $ 3,487 $ 15 $ 3,502 General and administrative (1) 1,642 262 1,904 Total $ 5,129 $ 277 $ 5,406 2023: Property operating $ 3,539 $ 7 $ 3,546 General and administrative 1,521 280 1,801 Total $ 5,060 $ 287 $ 5,347 2022: Property operating $ 3,543 $ — $ 3,543 General and administrative 1,520 122 1,642 Total $ 5,063 $ 122 $ 5,185 (1) The general and administrative lease expense excludes a reduction of $718 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 $3,295 in 2024 and $3,320 in each of the years ended December 31, 2023 and 2022. The following table shows the Company's maturity analysis of its operating lease liabilities as of December 31, 2024: Year ending December 31, Operating Leases 2025 $ 5,424 2026 4,451 2027 3,968 2028 1,356 2029 508 Thereafter 5,288 Total lease payments 20,995 Less: Imputed interest (3,881) Present value of lease liabilities $ 17,114

Allowance for Credit Loss

Allowance for Credit Loss	12 Months Ended
	Dec. 31, 2024
Credit Loss [Abstract]
Allowance for Credit Loss	Allowance for Credit Loss During 2024, 2023 and 2022, the Company recognized $(61), $(32) and $93, respectively, of credit loss allowance or recovery related to its investment in a sales-type lease. As of December 31, 2024, the Company's investment in a sales-type lease was fully repaid and the related credit allowance was recovered. The following tables detail the allowance for credit loss as of December 31, 2023: As of December 31, 2023 Amortized cost Allowance Net Investment Allowance as a % of Amortized Cost Investment in a sales-type lease $ 63,525 $ (61) $ 63,464 0.10 % For the Twelve Months Ended December 31, 2023 Balance at Beginning of Period Write-Offs General Allowance Balance at End of Period Allowance for credit loss $ 93 $ — $ (32) $ 61

Mortgages and Notes Payable

Mortgages and Notes Payable	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Mortgages and Notes Payable	Mortgages and Notes Payable The Company had the following mortgages and notes payable outstanding as of December 31, 2024 and 2023: December 31, 2024 December 31, 2023 Mortgages and notes payable $ 55,515 $ 60,888 Unamortized debt issuance costs (585) (764) $ 54,930 $ 60,124 Interest rates, including imputed rates on mortgages and notes payable, ranged from 3.5% to 4.3% at December 31, 2024 and 2023, respectively, and all mortgages and notes payable mature between 2028 and 2031 as of December 31, 2024. The weighted-average interest rate at December 31, 2024 and 2023 was approximately 4.1% and 4.0%, respectively. The Company has an unsecured credit agreement with KeyBank National Association, as agent. The maturity dates and interest rates as of December 31, 2024, were 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 ranges from SOFR (plus a 0.10% index adjustment) plus 0.725% to 1.400%, and the revolving credit facility allows for further reductions upon the achievement of to-be-determined sustainability metrics. At December 31, 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 fixed-rate of 2.722% per annum, until January 31, 2025. In 2024, the Company entered into forward interest rate swap agreements designated as cash flow hedges to effectively fix the interest rate related to an aggregate notional amount of $250,000 of $300,000 of the term loan at an average interest rate of 4.31% from January 31, 2025 to January 31, 2027. The aggregate unamortized debt issuance costs for the term loan were $2,186 and $3,236 as of December 31, 2024 and 2023, respectively. The Company was compliant with all applicable financial covenants contained in its corporate-level debt agreements at December 31, 2024. Mortgages payable and secured loans are generally collateralized by real estate and the related leases. Certain mortgages payable have yield maintenance or defeasance requirements relating to any prepayments. Scheduled principal and balloon payments for mortgages, notes payable and term loan for the next five years and thereafter are as follows: Year ending December 31, Total 2025 $ 5,570 2026 5,773 2027 305,984 2028 2,223 2029 960 Thereafter 35,005 355,515 Unamortized debt issuance costs (2,771) $ 352,744 In addition, the Company capitalized $3,884, $11,059 and $7,235 of interest expense for the years ended 2024, 2023 and 2022, respectively. Of these amounts, $54 and $8,134 of capitalized interest was recognized related to development projects under construction at December 31, 2024 and 2023, respectively, and are included in investments in real estate under construction on the consolidated balance sheets.

Senior Notes, Convertible Notes

Senior Notes, Convertible Notes and Trust Preferred Securities	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Senior Notes, Convertible Notes and Trust Preferred Securities	Senior Notes, Convertible Notes and Trust Preferred Securities The Company had the following Senior Notes outstanding as of December 31, 2024 and 2023: Issue Date December 31, 2024 December 31, 2023 Interest Rate Maturity Date Issue Price May 2014 $ — $ 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 (3,731) (4,489) Unamortized debt issuance cost (6,896) (8,298) $ 1,089,373 $ 1,286,145 Each series of the senior notes is unsecured and requires 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 a make-whole premium. In November 2023, the Company issued $300,000 aggregate principal amount of 6.750% Senior Notes due 2028 (“2028 Senior Notes”) at an issuance price of 99.423% of the principal amount. The Company issued the 2028 Senior Notes at an initial discount of $1,731, which is being recognized as additional interest expense over the term of the 2028 Senior Notes. The Company used the net proceeds to pay down amounts outstanding on its unsecured revolving credit facility and for general corporate purposes. A portion of the proceeds were invested on a short-term basis and the Company used the investments to repay the 4.400% Senior Notes due 2024 at maturity. During 2007, the Company issued $200,000 original principal amount of Trust Preferred Securities. As of December 31, 2024 and 2023, there was $129,120 original principal amount of Trust Preferred Securities outstanding and $1,227 and $1,326, respectively, of unamortized debt issuance costs. 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 all-in variable interest rate at December 31, 2024 was 6.55%. During 2024, the Company entered into interest rate swap agreements designated as cash flow hedges to effectively fix the interest rate related to an aggregate amount of $82,500 notional amount of the $129,120 Trust Preferred Securities resulting in an average interest rate of 5.20% from October 30, 2024 to October 30, 2027. At December 31, 2024, the weighted-average interest rate for the $129,120 Trust Preferred Securities was 5.69%, which includes the effect of the interest rate swaps. Scheduled principal payments for these debt instruments for the next five years and thereafter are as follows: Year ending December 31, Total 2025 $ — 2026 — 2027 — 2028 300,000 2029 — Thereafter 929,120 1,229,120 Unamortized debt discounts (3,731) Unamortized debt issuance costs (8,123) $ 1,217,266

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 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 years ended December 31, 2024 and 2023. The following table summarizes the terms of our outstanding derivative financial instruments on the Company's balance sheet as of December 31, 2024 and December 31, 2023: Derivative Type Number of Instruments Effective Date Maturity Date Notional Value Fair Value of Asset/(Liability) December 31, 2024 December 31, 2023 Term Loan Interest Rate Swap 4 7/1/2022 1/31/2025 $ 300,000 $ 678 $ 9,471 Term Loan Forward Interest Rate Swap 5 1/31/2025 1/31/2027 250,000 3,762 — Trust Preferred Securities Interest Rate Swap 2 10/30/2024 10/30/2027 82,500 1,694 — $ 632,500 $ 6,134 $ 9,471 During the next 12 months, the Company estimates that an additional $3,366 will be reclassified as a decrease in interest expense if the swaps remain outstanding. The table below present the effect of the Company's derivative financial instruments on the consolidated statements of operations for 2024 and 2023: Derivatives in Cash Flow Amount of Gain Recognized Amount of (Income) Loss Reclassified from Accumulated OCI into Income (1) December 31, Hedging Relationships 2024 2023 2024 2023 Interest Rate Swap $ 7,651 $ 3,496 $ (10,989) $ (10,343) The Company's share of non-consolidated entity's interest rate cap 151 158 (160) (1,517) Total $ 7,802 $ 3,654 $ (11,149) $ (11,860) (1) Amounts reclassified from accumulated other comprehensive income (loss) to interest expense within the consolidated statements of operations. Total interest expense presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded was $66,477 and $46,389 for 2024 and 2023, respectively.

Concentration of Risk

Concentration of Risk	12 Months Ended
	Dec. 31, 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 years ended December 31, 2024, 2023 and 2022, no single tenant represented greater than 10% of rental revenues. Cash and cash equivalent balances and certain short-term investments at certain institutions may exceed insurable amounts. The Company believes it mitigates this risk by investing in or through major financial institutions.

Equity

Equity	12 Months Ended
	Dec. 31, 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 years ended December 31, 2024 and 2023, the Company did not sell shares under the ATM program. During 2022, the Company issued 3,649,023 common shares, which were previously sold on a forward basis in the first quarter of 2021, on the maturity date of the forward sales contracts and received $38,492 of net proceeds. Underwritten Equity Offerings. During 2021, the Company entered into forward sales contracts for the sale of 16,000,000 common shares at a public offering price of $12.11 per common share in an underwritten equity offering. The forward sale contracts were settled in December 2022, and the Company received $183,419 of net proceeds. The Company did not issue common shares as part of an underwritten offering in 2024 and 2023. Stock Based Compensation. During the years ended December 31, 2024, 2023 and 2022, the Company issued 1,669,211, 1,284,704 and 930,602 of its common shares, respectively, to certain employees and trustees. Typically, trustee share grants vest immediately. Employee share grants generally vest ratably, on anniversaries of the grant date, however, in certain situations vesting is cliff-based after a specific number of years and/or subject to meeting certain performance criteria. 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. No common shares were repurchased during 2024 and 2023. During 2022, 12,102,074 common shares were repurchased and retired for an average price of $10.78 per share. As of December 31, 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 December 31, 2024. Series C Preferred Stock. The Company had 1,935,400 shares of Series C Cumulative Convertible Preferred Stock (“Series C Preferred”) outstanding at December 31, 2024. The shares have a dividend of $3.25 per share per annum and 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 December 31, 2024, the conversion ratio was one Series C Preferred share to 2.4339 common shares. The conversion rate 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 related to the Company's cash flow hedges is as follows: Years ended December 31, 2024 2023 Balance at beginning of period $ 9,483 $ 17,689 Other comprehensive income before reclassifications 7,802 3,654 Amounts of (income) reclassified from accumulated other comprehensive income to interest expense (11,149) (11,860) Balance at end of period $ 6,136 $ 9,483 Noncontrolling Interests. In conjunction with several of the Company's acquisitions in prior years, sellers were issued 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 had determined that the OP units were not redeemable securities as defined by GAAP. Each OP unit was redeemable for approximately 1.13 common shares, subject to future adjustments. During 2023 and 2022, 832,571 and 39,747 common shares, respectively, were issued by the Company, in connection with OP unit redemptions, for an aggregate book value of $3,393 and $211, respectively. On December 31, 2023, LCIF was merged with and into the Company and all outstanding OP units were converted into 822,627 common shares for a total of $7,800 on a one to 1.13 basis. The Company was the surviving entity of the merger. The following discloses the effects of changes in the Company's ownership interests in its noncontrolling interests: Net Income Attributable to Shareholders and Transfers from Noncontrolling Interests 2024 2023 2022 Net income attributable to LXP Industrial Trust shareholders $ 44,534 $ 30,383 $ 113,783 Transfers from noncontrolling interests: Increase in additional paid-in-capital for redemption of noncontrolling OP units — 3,393 211 Change from net income attributable to shareholders and transfers from noncontrolling interests $ 44,534 $ 33,776 $ 113,994

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company is a real estate investment trust focused on operating, acquiring and developing Class A warehouse and distribution facilities. A majority of the properties are subject to net or similar leases, where the tenant bears all or substantially all of the costs, including cost increases, for real estate taxes, utilities, insurance and ordinary repairs. All of the properties are located in North America and operate within a comparable regulatory environment. The CODM, which is the Company's Chief Executive Officer, reviews the business on a consolidated basis to assess performance and make operating decisions. The Company has only one operating segment because of its organizational and management structure, as well as information used by the CODM to make decisions about resource allocation and assess performance.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2024
Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]
Benefit Plans	Benefit Plans Non-vested share activity for the years ended December 31, 2024 and 2023, is as follows: Number of Weighted-Average Grant-Date Fair Balance at December 31, 2022 2,058,890 $ 8.70 Granted 1,191,697 7.97 Vested (526,453) 9.08 Forfeited (184,661) 6.34 Balance at December 31, 2023 2,539,473 8.45 Granted 1,570,459 7.33 Vested (425,302) 10.37 Forfeited (459,230) 6.66 Balance at December 31, 2024 3,225,400 $ 7.90 During 2024 and 2023, the Company granted common shares to certain employees and trustees as follows: 2024 2023 Performance Shares (1) Shares issued: Index 489,182 407,611 Peer 489,177 407,606 Grant date fair value per share: (2) Index $ 6.01 $ 6.96 Peer $ 5.68 $ 6.50 Non-Vested Common Shares: (3) Shares issued 592,100 376,480 Grant date fair value $ 5,794 $ 4,010 (1) The shares vest based on the Company's total shareholder return growth after a three-year measurement period relative to an index and a group of Company peers. Dividends will not be paid on these grants until earned. Once the performance criteria are met and the actual number of shares earned is determined, such shares vest immediately. During 2024, 119,519 of the 565,652 outstanding performance shares issued in 2021 vested. (2) The fair value of grants was determined at the grant date using a Monte Carlo simulation model. (3) The shares vest at various times over a period of time up to a three year service period commencing on the grant date. In addition, during 2024, 2023 and 2022, the Company issued 98,752, 93,007 and 69,937, respectively, of fully vested common shares to non-management members of the Company's Board of Trustees with a fair value of $900, $939 and $849, respectively. As of December 31, 2024, of the remaining 3,225,400 non-vested shares, 915,722 are subject to time-based vesting and 2,309,628 are subject to performance-based vesting. At December 31, 2024, there are 1,784,563 awards available for grant. The Company has $10,846 in unrecognized compensation costs relating to the non-vested shares that will be charged to compensation expense over an average of approximately 1.6 years. The Company has established a trust for a certain officer in which vested common shares granted for the benefit of the officer was deposited. The officer exerts no control over the common shares in the trust and the common shares are available to the general creditors of the Company. As of December 31, 2024 and 2023, there were 130,863 common shares in the trust. The Company sponsors a 401(k) retirement savings plan covering all eligible employees. The Company makes a discretionary matching contribution on a portion of employee participant salaries and, based on its profitability, may make an additional discretionary contribution at each fiscal year end to all eligible employees. These discretionary contributions are subject to vesting under a schedule providing for 25% annual vesting starting with the first year of employment and 100% vesting after four years of employment. Approximately $485, $499 and $480 of contributions are applicable to 2024, 2023 and 2022, respectively. During 2024, 2023 and 2022, the Company recognized $9,536, $8,210 and $6,636, respectively, in expense relating to scheduled vesting of common share grants.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions There were no related party transactions other than those disclosed elsewhere in the consolidated financial statements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes relates primarily to the taxable income of the Company's taxable REIT subsidiaries. The earnings, other than in taxable REIT subsidiaries, of the Company are not generally subject to federal income taxes at the Company level due to the REIT election made by the Company. Income taxes have been provided for on the asset and liability method. Under the asset and liability method, deferred income taxes are recognized for the temporary differences between the financial reporting basis and the tax basis of assets and liabilities. The Company's provision for income taxes for the years ended December 31, 2024, 2023 and 2022 is summarized as follows: 2024 2023 2022 Current: Federal $ — $ — $ — State and local 50 (774) (1,120) Deferred federal 77 71 18 Total $ 127 $ (703) $ (1,102) Net deferred tax asset of $166 and $89 are included in Other assets on the accompanying consolidated balance sheets at December 31, 2024 and 2023, respectively. This net deferred tax asset relates primarily to a net operating loss carryforward. The income tax provision differs from the amount computed by applying the statutory federal income tax rate to pre-tax operating income as follows: 2024 2023 2022 Federal provision at statutory tax rate (21%) $ 77 $ 71 $ 18 State and local taxes, net of federal benefit — — — Other 50 (774) (1,120) Total $ 127 $ (703) $ (1,102) For the years ended December 31, 2024, 2023 and 2022, the “other” amount is comprised primarily of state franchise taxes (refunds) of $(50), $774 and $1,121, respectively. As of December 31, 2024 and 2023, the Company had estimated net operating loss carry forward for income tax reporting purposes of $789 and $423, respectively. A summary of the average taxable nature of the Company's common dividends for each of the years in the three-year period ended December 31, 2024, is as follows: 2024 2023 2022 Total dividends per share $ 0.52 $ 0.50 $ 0.48 Ordinary income 55.65 % 71.67 % 81.26 % Qualifying dividend — % — % — % Capital gain 41.58 % — % — % Return of capital 2.77 % 28.33 % 18.74 % 100.00 % 100.00 % 100.00 % A summary of the average taxable nature of the Company's dividend on shares of its Series C Preferred for each of the years in the three-year period ended December 31, 2024, is as follows: 2024 2023 2022 Total dividends per share $ 3.25 $ 3.25 $ 3.25 Ordinary income 57.23 % 100.00 % 100.00 % Qualifying dividend — % — % — % Capital gain 42.77 % — % — % Return of capital — % — % — % 100.00 % 100.00 % 100.00 %

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 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 December 31, 2024, the Company expects to incur approximately $29,750, excluding noncontrolling interests' share and potential developer fees or partner buyouts, to substantially fund the leasing costs for the Company's placed-in service development projects and infrastructure work for the Company's consolidated and non-consolidated land parcels held for development. The Company is unable to estimate (1) the timing of any required funding for the such leasing costs until leases are executed and (2) the timing or amount of any additional costs related to the land parcels until the Company commits to such additional costs. As of December 31, 2024, the outstanding liability for unpaid severance expense was $1,482 which is included in accounts payable and other liabilities of the consolidated balance sheet. From time to time, the Company is directly or indirectly involved in legal proceedings arising in the ordinary course of business. Management believes, based on currently available information, and after consultation with legal counsel, that although the outcomes of those normal course proceedings are uncertain, the results of such proceedings, in the aggregate, will not have a material adverse effect on the Company's business, financial condition and results of operations.

Supplemental Disclosure of Stat

Supplemental Disclosure of Statement of Cash Flow Information	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Information [Abstract]
Supplemental Disclosure of Statement of Cash Flow Information	Supplemental Disclosure of Statement of Cash Flow Information 2024 2023 2022 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents at beginning of period $ 199,247 $ 54,390 $ 190,926 Restricted cash at beginning of period 216 116 101 Cash, cash equivalents and restricted cash at beginning of period $ 199,463 $ 54,506 $ 191,027 Cash and cash equivalents at end of period $ 101,836 $ 199,247 $ 54,390 Restricted cash at end of period 237 216 116 Cash, cash equivalents and restricted cash at end of period $ 102,073 $ 199,463 $ 54,506 In addition to disclosures discussed elsewhere, during 2024, 2023 and 2022, the Company paid $66,699, $51,763 and $48,675, respectively, for interest and $274, $951 and $1,265, respectively, for income taxes. For the years ended December 31, 2024, 2023 and 2022, the Company accrued additions for capital projects of $14,683, $21,052 and $42,962, respectively. During 2024, the Company deconsolidated Lombard Street Lots, LLC, which resulted in non-cash changes in real estate, at cost, investments in non-consolidated entities and noncontrolling interests of $4,605, $2,311, and $2,503, respectively. In 2023, LCIF merged with and into the Company. The consideration included the conversion of the remaining OP units outstanding valued at approximately $7,800. In 2023, a wholly owned subsidiary of the Company purchased a parcel of land from Etna Park 70, LLC, which the Company has a 90% ownership interest. The transaction generated a gain on sale that the Company recognized as a $1,392 non-cash decrease to the basis acquired.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation and Amortization	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III	Description Location Encumbrances Land and Land Estates Buildings and Improvements Total Accumulated Depreciation and Amortization (1) Date Acquired/Constructed WAREHOUSE/DISTRIBUTION PROPERTIES Industrial Chandler, AZ $ — $ 10,733 $ 69,759 $ 80,492 $ 13,480 2020 Industrial Goodyear, AZ — 5,247 36,115 41,362 10,038 2018 Industrial Goodyear, AZ 39,418 11,970 50,072 62,042 11,376 2019 Industrial Goodyear, AZ — 1,614 16,222 17,836 3,291 2020 Industrial Goodyear, AZ — 7,552 29,621 37,173 2,869 2023 Industrial Goodyear, AZ — 11,732 52,840 64,572 6,823 2021 Industrial Goodyear, AZ — 9,448 43,026 52,474 2,753 2024 Industrial Phoenix, AZ — 8,027 78,258 86,285 11,409 2021 Industrial Phoenix, AZ — 5,366 49,199 54,565 5,644 2022 Industrial Tolleson, AZ — 3,311 16,013 19,324 3,707 2019 Industrial Lakeland, FL — 1,416 21,013 22,429 3,550 2021 Industrial Ocala, FL — 4,113 50,034 54,147 9,871 2020 Industrial Ocala, FL — 11,376 70,173 81,549 2,573 2024 Industrial Orlando, FL — 5,278 13,782 19,060 5,156 2006/2024 Industrial Plant City, FL — 2,610 48,884 51,494 7,864 2021 Industrial Ruskin, FL — 4,493 14,483 18,976 290 2024 Industrial Ruskin, FL — 4,713 15,801 20,514 419 2023/2024 Industrial Tampa, FL — 2,160 11,109 13,269 8,913 1988 Industrial Adairsville, GA — 1,465 23,950 25,415 3,325 2021 Industrial Adairsville, GA — 2,728 41,181 43,909 366 2024 Industrial Austell, GA — 3,251 51,518 54,769 18,204 2019 Industrial Cartersville, GA — 2,497 42,242 44,739 5,704 2021 Industrial Cartersville, GA — 2,006 33,279 35,285 4,379 2021 Industrial Cartersville, GA — 2,378 25,861 28,239 228 2024 Industrial Fairburn, GA — 7,209 44,269 51,478 6,504 2021 Industrial McDonough, GA — 5,441 52,790 58,231 16,254 2017 Industrial McDonough, GA — 3,253 32,203 35,456 8,092 2019 Industrial Pooler, GA — 1,690 30,356 32,046 6,330 2020 Industrial Rincon, GA — 3,775 34,357 38,132 6,468 2020 Industrial Rincon, GA — 5,612 25,602 31,214 183 2024 Industrial Savannah, GA — 2,560 25,812 28,372 5,079 2020 Industrial Savannah, GA — 1,070 7,458 8,528 1,472 2020 Industrial Union City, GA — 2,536 22,905 25,441 5,547 2019 Industrial Edwardsville, IL — 4,593 34,817 39,410 11,642 2016 Industrial Edwardsville, IL — 3,649 41,657 45,306 12,140 2018 Industrial Rantoul, IL — 1,304 32,562 33,866 9,841 2014 Industrial Rockford, IL — 371 4,624 4,995 1,442 2006 Industrial Rockford, IL — 509 5,921 6,430 2,705 2006 Industrial Greenfield, IN — 5,126 58,692 63,818 2,162 2024 Industrial Lafayette, IN — 662 15,814 16,476 5,801 2017 Industrial Lebanon, IN — 2,100 29,996 32,096 9,720 2017 Industrial Whiteland, IN — 741 14,486 15,227 2,041 2021 Industrial Whiteland, IN — 1,991 39,334 41,325 5,708 2021 Industrial Whiteland, IN — 695 13,956 14,651 1,964 2021 Industrial Whitestown, IN — 1,954 17,368 19,322 4,416 2019 Industrial Whitestown, IN — 1,162 11,825 12,987 2,028 2021 Industrial Whitestown, IN — 1,208 12,337 13,545 2,078 2021 Industrial Whitestown, IN — 8,335 80,054 88,389 11,086 2021 Industrial New Century, KS — — 15,115 15,115 4,824 2017 Industrial Walton, KY — 2,010 23,837 25,847 3,205 2022 Industrial Walton, KY — 4,197 41,043 45,240 5,120 2022 Industrial Minneapolis, MN — 1,886 1,922 3,808 736 2012 Industrial Byhalia, MS — 1,006 35,795 36,801 12,898 2011 Industrial Byhalia, MS — 1,751 31,452 33,203 12,759 2017 Industrial Canton, MS — 5,077 71,289 76,366 32,839 2015 Description Location Encumbrances Land and Land Estates Buildings and Improvements Total Accumulated Depreciation and Amortization (1) Date Acquired/Constructed Industrial Olive Branch, MS — 2,500 48,907 51,407 13,142 2018 Industrial Olive Branch, MS — 1,958 38,702 40,660 12,032 2018 Industrial Olive Branch, MS — 2,646 40,446 43,092 9,720 2019 Industrial Olive Branch, MS — 851 15,630 16,481 3,698 2019 Industrial Shelby, NC — 1,421 18,862 20,283 8,799 2011 Industrial Statesville, NC — 891 22,056 22,947 9,706 2006 Industrial Erwin, NY — 1,648 12,514 14,162 5,892 2012 Industrial Long Island City, NY 16,097 — 42,759 42,759 33,671 2013 Industrial Chillicothe, OH — 735 12,464 13,199 5,690 2011 Industrial Columbus, OH — 2,251 25,349 27,600 3,737 2021 Industrial Etna, OH — 6,536 58,202 64,738 2,770 2023 Industrial Etna, OH — 3,113 20,766 23,879 346 2024 Industrial Hebron, OH — 1,803 15,128 16,931 4,103 1997 Industrial Hebron, OH — 2,052 14,332 16,384 5,775 2001 Industrial Lockbourne, OH — 2,800 16,678 19,478 2,980 2021 Industrial Monroe, OH — 544 14,120 14,664 3,322 2019 Industrial Monroe, OH — 3,123 61,410 64,533 14,465 2019 Industrial Monroe, OH — 3,950 89,007 92,957 20,275 2019 Industrial Monroe, OH — 1,109 16,477 17,586 2,574 2021 Industrial Streetsboro, OH — 2,441 25,351 27,792 14,305 2007 Industrial Bristol, PA — 2,508 15,863 18,371 11,009 1998 Industrial Duncan, SC — 1,615 27,988 29,603 6,978 2019 Industrial Duncan, SC — 1,406 14,282 15,688 3,262 2019 Industrial Duncan, SC — 1,257 13,439 14,696 3,064 2019 Industrial Duncan, SC — 2,819 24,509 27,328 3,704 2021 Industrial Duncan, SC — 1,169 23,206 24,375 3,457 2021 Industrial Duncan, SC — 1,016 18,479 19,495 2,705 2021 Industrial Duncan, SC — 1,705 27,817 29,522 4,159 2021 Industrial Greer, SC — 6,959 79,460 86,419 16,706 2019 Industrial Greer, SC — 1,329 22,393 23,722 3,357 2021 Industrial Greer, SC — 2,376 32,203 34,579 4,825 2021 Industrial Greer, SC — 2,484 62,479 64,963 6,264 2022 Industrial Greer, SC — 1,795 22,159 23,954 1,213 2023 Industrial Greer, SC — 6,765 66,649 73,414 2,000 2024 Industrial Piedmont, SC — 3,163 63,161 66,324 — 2024 Industrial Spartanburg, SC — 1,447 24,959 26,406 7,470 2018 Industrial Spartanburg, SC — 1,186 15,820 17,006 2,787 2020 Industrial Antioch, TN — 3,847 17,808 21,655 7,408 2007 Industrial Cleveland, TN — 1,871 29,743 31,614 9,950 2017 Industrial Jackson, TN — 1,454 49,134 50,588 15,258 2017 Industrial Lewisburg, TN — 173 10,865 11,038 3,619 2014 Industrial Millington, TN — 723 24,317 25,040 16,511 2005 Industrial Smyrna, TN — 1,793 93,940 95,733 29,892 2017 Industrial Carrollton, TX — 3,228 16,234 19,462 6,101 2018 Industrial Dallas, TX — 2,420 24,201 26,621 5,737 2019 Industrial Deer Park, TX — 6,489 28,470 34,959 4,553 2021 Industrial Grand Prairie, TX — 3,166 17,985 21,151 5,849 2017 Industrial Houston, TX — 15,055 57,949 73,004 21,184 2013 Industrial Hutchins, TX — 1,307 8,472 9,779 1,729 2020 Industrial Lancaster, TX — 3,847 25,037 28,884 4,390 2020 Industrial Lancaster, TX — 2,100 14,381 16,481 963 2023 Industrial Missouri City, TX — 14,555 5,895 20,450 5,895 2012 Industrial Northlake, TX — 4,500 71,636 76,136 14,801 2020 Industrial Northlake, TX — 3,938 37,189 41,127 6,793 2020 Industrial Pasadena, TX — 4,057 17,810 21,867 5,102 2018 Industrial Pasadena, TX — 2,202 17,135 19,337 3,323 2020 Industrial Pasadena, TX — 4,272 22,295 26,567 3,529 2021 Description Location Encumbrances Land and Land Estates Buildings and Improvements Total Accumulated Depreciation and Amortization (1) Date Acquired/Constructed Industrial Pasadena, TX — 1,792 9,089 10,881 1,425 2021 Industrial Pasadena, TX — 6,084 28,526 34,610 237 2024 Industrial San Antonio, TX — 1,311 36,644 37,955 11,821 2017 Industrial Chester, VA — 8,544 53,067 61,611 16,080 2018 Industrial Winchester, VA — 1,988 32,536 34,524 9,743 2017 Industrial Winchester, VA — 2,818 24,422 27,240 4,637 2020 Industrial Winchester, VA — 3,823 12,498 16,321 6,186 2007 Construction in progress 11,222 Deferred loan costs, net (585) $ 54,930 $ 399,685 $ 3,765,387 $ 4,176,294 $ 837,994 (1) Depreciation and amortization expense is calculated on a straight-line basis over the following lives: Building and improvements Up to 40 years Land estates Up to 51 years Tenant improvements Shorter of useful life or term of related lease The initial cost includes the purchase price paid directly or indirectly by the Company. The total cost basis of the Company's properties at December 31, 2024 for federal income tax purposes was approximately $4.4 billion. 2024 2023 2022 Reconciliation of real estate, at cost: Balance at the beginning of year $ 3,774,239 $ 3,691,066 $ 3,583,978 Additions during year 564,602 164,489 229,962 Properties sold and impaired during the year (170,467) (174,466) (161,393) Other reclassifications 7,920 93,150 38,519 Balance at end of year $ 4,176,294 $ 3,774,239 $ 3,691,066 Reconciliation of accumulated depreciation and amortization: Balance at the beginning of year $ 713,377 $ 627,027 $ 504,699 Depreciation and amortization expense 159,997 147,617 144,163 Accumulated depreciation and amortization of properties sold and impaired during year (34,807) (100,474) (43,521) Other reclassifications (573) 39,207 21,686 Balance at end of year $ 837,994 $ 713,377 $ 627,027

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income attributable to LXP Industrial Trust shareholders	$ 44,534	$ 30,383	$ 113,783

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 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

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Processes for Assessing, Identifying and Managing Material Risks from Cybersecurity Threats Our cybersecurity program focuses on (1) preventing and preparing for cybersecurity incidents, (2) detecting and analyzing cybersecurity incidents, and (3) containing, eradicating, recovering from, and reporting cybersecurity events. Prevention and Preparation As noted above, we utilize our MS Provider for cloud-based information technology services. This third-party solution includes 24/7 monitoring and is consistent with a well-recognized cybersecurity framework. We also engage a nationally recognized public accounting firm to perform periodic cybersecurity assessments, which entail performing a qualitative current state evaluation of our cybersecurity program in line with specific domains within the recognized third-party framework. In addition, we take the following preventative measures: • We engage a third party to perform internal and external penetration tests on an annual basis. • We require multi-factor authentication and other enhanced security measures for our network and primary applications. • We utilize geolocation-based blocking and mobile device management. We recognize that threat actors frequently target employees to gain unauthorized access to information systems. Therefore, a key element of our prevention efforts is employee training on cybersecurity around phishing, malware and other cyber risks. We use a third-party provider of security awareness training and simulated phishing for our email phishing reporting and periodic cyber security training. We maintain comprehensive business continuity and disaster recovery plans, which we update on at least an annual basis and we test through tabletop exercises on an annual basis. We do not maintain any on-premises data or servers. We are exposed to risks from interactions with vendors and other third parties. To mitigate this risk, we perform due diligence on our vendors and third-party service providers. We believe we work with reputable vendors and require SOC reports from critical vendors and IT service providers. We also maintain cybersecurity insurance providing coverage for certain costs related to cybersecurity failures and specified cybersecurity-related incidents that interrupt our network or networks of our vendors, in all cases up to specified limits and subject to certain exclusions. Detection and Analysis Cybersecurity incidents may be detected through a variety of means, which may include, but are not limited to, automated event-detection notifications, employee notifications, and notification from external parties (e.g., our third-party information technology provider). Once a potential cybersecurity incident is identified, including a third party cybersecurity event, the incident response team designated pursuant to the incident response plan follows the procedures set forth in the plan to investigate the potential incident, including determining the nature of the event and assessing the severity of the event and sensitivity of any compromised data. Containment, Eradication, Recovery, and Reporting In the event of a cybersecurity incident, our first priority is to contain the cybersecurity incident as quickly as possible consistent with the procedures in our incident response plan. A representative of our third-party information technology provider is a member of the incident response team. Our third-party information technology provider takes the lead on assisting us with the steps and procedures to contain the incident. If our third-party information technology provider is unable to contain the incident, we expect to work with our CTO/CISO and cybersecurity insurer to engage an appropriate vendor for containment. Once a cybersecurity incident is contained our focus shifts to remediation. Eradication and recovery activities depend on the nature of the cybersecurity incident and may include rebuilding systems and/or hosts, replacing compromised files with clean versions, validation of files or data that may have been affected, increased network monitoring or logging to identify recurring attacks, or employee re-training, among other things. We have specific recovery time objectives and recovery point objectives in our disaster recovery plan. Our incident response plan provides clear communication protocols, which may include, depending on the incident's classification and other circumstances, our CEO, CFO and COO, our internal and external counsel, our management disclosure committee and the Audit and Cyber Risk Committee and the Board of Trustees. In addition, our COO and CTO/CISO generally engage with external legal counsel with respect to regulatory reporting obligations related to an incident. Following the conclusion of an incident, the incident response team will generally assess the effectiveness of the cybersecurity program and make adjustments as appropriate. Cybersecurity Risks As of December 31, 2024, we are not aware of any material cybersecurity incidents in the last three years. However, there can be no assurance that our security efforts and measures, and those of our third-party providers, will be effective or that attempted cybersecurity incidents or disruptions would not be successful or damaging. See “Item 1A–Risk Factors–Cybersecurity incidents may adversely affect our business.”
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our enterprise risk management framework was developed in conjunction with a third-party that objectively assessed key stakeholder responses to questionnaires on our operations and business functions, including information technology and cybersecurity. Our internal controls over financial reporting include key controls covering certain information technology and cybersecurity processes that are documented and tested annually.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our enterprise risk management framework was developed in conjunction with a third-party that objectively assessed key stakeholder responses to questionnaires on our operations and business functions, including information technology and cybersecurity. Our internal controls over financial reporting include key controls covering certain information technology and cybersecurity processes that are documented and tested annually. The Audit and Cyber Risk Committee of our Board of Trustees assists our Board of Trustees on oversight of management in connection with regularly assessing our key risks and engaging in enterprise-wide risk management as they relate to cybersecurity and our technology and information systems, including with respect to strategies, objectives, capabilities, initiatives, policies and investments. We employ a Director of Information Technology who works exclusively on information technology and cybersecurity matters and has significant related experience. Our Director of Information Technology reports to our Chief Operating Officer. Due to our size and the size of our employee base, we use third-party vendors to assist us with our network and information technology requirements. Since 2019, BDO USA, LLC (“BDO”) has acted as our outsourced chief technology officer/chief information security officer (“CTO/CISO”) and provided us with the following services: • Overseeing the chief security role and informing leadership of cybersecurity risks and the role of staff in protecting information, including, but not limited to: ◦ Monitoring emerging risks, and suggesting and overseeing implementation of mitigations; ◦ Overseeing security awareness and training programs; and ◦ Reporting significant security events to leadership. • Guidance regarding incidence response, business continuity and disaster recovery program, strategy and testing. • Oversight and guidance on vendor risk management processes and individual vendor profiles. • IT strategy advice. • Monitoring the relationship with our information technology managed services provider. • Technical, policy and procedure recommendations. Together with our Director of Information Technology, BDO regularly reports to our Chief Operating Officer and General Counsel and to the Audit and Cyber Risk Committee of our Board of Trustees on a quarterly basis. We outsource our information technology managed services to a third-party provider of customized private cloud solutions featuring virtual desktops and servers (“MS Provider”). Our Director of Information Technology, together with BDO, oversees the MS Provider. We maintain a critical systems vendor management program with the assistance of a third-party provider of vendor risk intelligence data, including cybersecurity vulnerabilities, business health and credit risk. In the event of an incident which jeopardizes the confidentiality, integrity, or availability of the information technology systems we use, we utilize an incident response plan. Our incident response plan was developed to guide the internal response to incidents taking into account a recognized third party cybersecurity framework. Pursuant to our incident response plan and its escalation protocols, designated personnel are responsible for assessing the severity of the incident and associated threat, containing the threat, remediating the threat, including recovery of data and access to systems, analyzing the reporting and disclosure obligations associated with the incident, and performing post-incident analysis and program improvements. While the particular personnel assigned to an incident response team will depend on the particular facts and circumstances, the incident response team is made up of two teams: the information security response team and the business response team. The information security response team is generally led by our Chief Operating Officer and includes our CTO/CISO, our Director of Information Technology, our MS Provider account manager, our Chief Financial Officer and other members of our senior leadership. The business response team includes primary and secondary contacts for each impacted business area. These individuals assist with any necessary customer notification procedures. The incident response team regularly reports to senior management, including the CEO, in the event of a significant incident, and our Chief Operating Officer and Chief Financial Officer provide reports to our Audit and Cyber Risk Committee and our Board of Trustees.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit and Cyber Risk Committee oversees, on behalf of the Board of Trustees, our information technology and cybersecurity strategy and initiatives.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	On at least a quarterly basis, our Chief Operating Officer, CTO/CISO and Director of Information Technology report to our Audit and Cyber Risk Committee on information technology matters, including cybersecurity.
Cybersecurity Risk Role of Management [Text Block]	Processes for Assessing, Identifying and Managing Material Risks from Cybersecurity Threats Our cybersecurity program focuses on (1) preventing and preparing for cybersecurity incidents, (2) detecting and analyzing cybersecurity incidents, and (3) containing, eradicating, recovering from, and reporting cybersecurity events. Prevention and Preparation As noted above, we utilize our MS Provider for cloud-based information technology services. This third-party solution includes 24/7 monitoring and is consistent with a well-recognized cybersecurity framework. We also engage a nationally recognized public accounting firm to perform periodic cybersecurity assessments, which entail performing a qualitative current state evaluation of our cybersecurity program in line with specific domains within the recognized third-party framework. In addition, we take the following preventative measures: • We engage a third party to perform internal and external penetration tests on an annual basis. • We require multi-factor authentication and other enhanced security measures for our network and primary applications. • We utilize geolocation-based blocking and mobile device management. We recognize that threat actors frequently target employees to gain unauthorized access to information systems. Therefore, a key element of our prevention efforts is employee training on cybersecurity around phishing, malware and other cyber risks. We use a third-party provider of security awareness training and simulated phishing for our email phishing reporting and periodic cyber security training. We maintain comprehensive business continuity and disaster recovery plans, which we update on at least an annual basis and we test through tabletop exercises on an annual basis. We do not maintain any on-premises data or servers. We are exposed to risks from interactions with vendors and other third parties. To mitigate this risk, we perform due diligence on our vendors and third-party service providers. We believe we work with reputable vendors and require SOC reports from critical vendors and IT service providers. We also maintain cybersecurity insurance providing coverage for certain costs related to cybersecurity failures and specified cybersecurity-related incidents that interrupt our network or networks of our vendors, in all cases up to specified limits and subject to certain exclusions.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	We employ a Director of Information Technology who works exclusively on information technology and cybersecurity matters and has significant related experience. Our Director of Information Technology reports to our Chief Operating Officer.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	We employ a Director of Information Technology who works exclusively on information technology and cybersecurity matters and has significant related experience. Our Director of Information Technology reports to our Chief Operating Officer.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Together with our Director of Information Technology, BDO regularly reports to our Chief Operating Officer and General Counsel and to the Audit and Cyber Risk Committee of our Board of Trustees on a quarterly basis.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation. The Company's consolidated financial statements are prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“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.
Revenue Recognition	Revenue Recognition.
Earnings Per Share	Earnings Per Share . Basic net income (loss) per share is computed under the two-class method by dividing net income (loss) reduced by preferred dividends and amounts allocated to certain non-vested share-based payment awards, if applicable, by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share amounts are similarly computed but include the effect, when dilutive, of in-the-money common share options and non-vested common shares, unsettled common shares sold in forward sales transactions, OP units and put options of certain convertible securities.
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 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 estimate of credit losses for investments in sales-type leases, the allocation of incurred and future shared development costs to land parcels, and the useful lives of long-lived assets. Actual results could differ materially from those estimates.
Acquisition of Real Estate	Acquisition of Real Estate. The fair value of the real estate acquired, which includes the impact of fair value adjustments for assumed mortgage debt related to property acquisitions, is allocated to the acquired tangible assets, consisting of land, building and improvements and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place leases and value of tenant relationships, based in each case on their fair values. The Company's acquisitions are primarily considered asset acquisitions, thus acquisition costs are capitalized. The fair value of the tangible assets of an acquired property (which includes land, building and improvements and fixtures and equipment) is determined by valuing the property as if it were vacant. The “as-if-vacant” value is then allocated to land and building and improvements based on management's determination of relative fair values of these assets. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions. Management generally retains a third party to assist in the allocations. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market lease values are recorded based on the difference between the current in-place lease rent and management's estimate of current market rents. Below-market lease intangibles are recorded as part of deferred revenue and amortized into rental revenue over the non-cancelable periods and bargain renewal periods of the respective leases. Above-market leases are recorded as part of intangible assets and amortized as a direct charge against rental revenue over the non-cancelable portion of the respective leases. The aggregate value of other acquired intangible assets, consisting of in-place leases and tenant relationship values, is measured based on the lease revenue and market value of lease up costs avoided as a result of having an in-place lease on the acquisition date. This aggregate value is allocated between in-place lease values and tenant relationship values based on management's evaluation of the specific characteristics of each tenant's lease. The value of in-place leases is amortized to expense over the remaining non-cancelable periods and any bargain renewal periods of the respective leases. The value of tenant relationships is amortized to expense over the applicable lease term plus expected renewal periods. Depreciation is determined by the straight-line method over the remaining estimated economic useful lives of the properties. The Company generally depreciates its real estate assets over periods ranging up to 40 years.
Impairment of Real Estate	Impairment of Real Estate. The Company evaluates the carrying value of all tangible and intangible real estate assets held for investment for possible impairment when an event or change in circumstance has occurred that indicates its carrying value may not be recoverable. The Company considers the strategic decisions regarding the future plans to sell properties and other market factors. The Company regularly updates significant estimates and assumptions including rental rates, capitalization rates and discount rates, which are included in the anticipated future undiscounted cash flows derived from the asset. If such cash flows are less than the asset's carrying value, an impairment charge is recognized to the extent by which the asset's carrying value exceeds its estimated fair value, which may be below the balance of any non-recourse financing. Estimating future cash flows and fair values is highly subjective and such estimates could differ materially from actual results.
Investments in Non-Consolidated Entities	Investments in Non-Consolidated Entities . The Company uses the equity method of accounting for those joint ventures where it exercises significant influence but does not have control. If the Company's investment in the entity is insignificant and the Company has no influence over the control of the entity then the entity is accounted for under the cost method.
Impairment of Equity Method Investments	Impairment of Equity Method Investments. The Company assesses whether there are indicators that the value of its equity method investments may be impaired. An impairment charge is recognized only if the Company determines that a decline in the value of the investment below its carrying value is other-than-temporary. The assessment of impairment is highly subjective and involves the application of significant assumptions and judgments about the Company's intent and ability to recover its investment given the nature and operations of the underlying investment, including the level of the Company's involvement therein, among other factors. To the extent an impairment is deemed to be other-than-temporary, the loss is measured as the excess of the carrying amount of the investment over the estimated fair value of the investment.
Fair Value Measurements	Fair Value Measurements. The Company follows the guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures (“Topic 820”), to determine the fair value of financial and non-financial instruments. Topic 820 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. Topic 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 - quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 - observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 - unobservable inputs, which are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as considering counterparty credit risk. The Company has formally elected to apply the portfolio exception within Topic 820 with respect to measuring counterparty risk for all of its derivative transactions subject to master netting arrangements. The Company estimates the fair value of its real estate assets, including non-consolidated real estate assets, by using income and market valuation techniques. The Company may estimate fair values using market information such as recent sale contracts (Level 2 inputs) or recent sale offers or discounted cash flow models, which primarily rely on Level 3 inputs. The cash flow models include estimated cash inflows and outflows over a specified holding period. These cash flows may include contractual rental revenues, projected future rental revenues and expenses and forecasted tenant improvements and lease commissions based upon market conditions determined through discussion with local real estate professionals, experience the Company has with its other owned properties in such markets and expectations for growth. Capitalization rates and discount rates utilized in these models are estimated by management based upon rates that management believes to be within a reasonable range of current market rates for the respective properties based upon an analysis of factors such as property and tenant quality, geographical location and local supply and demand observations. To the extent the Company under-estimates forecasted cash out flows (tenant improvements, lease commissions and operating costs) or over-estimates forecasted cash inflows (rental revenue rates), the estimated fair value of its real estate assets could be overstated.
Cost Capitalization	Cost Capitalization. The Company capitalizes direct and indirect project costs associated with construction of a property or improvements, including interest and compensation costs of employees directly contributing to the completion of each construction project, up to the time the property is stabilized. These costs are included within investments in real estate under construction for development projects and in construction in progress within real estate, at cost for improvements on the consolidated balance sheets. If activities and costs incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once construction is substantially complete on a vacant space and it is ready for its intended use, costs are no longer capitalized. The Company will reclassify a development project to real estate, at cost from investments in real estate under construction once in service upon stabilization. The Company considers stabilization to occur upon the earlier of 90% occupancy of the property or one-year from cessation of major construction activities. If some portions of a development project are substantially complete and ready for use and other portions have not yet reached that stage, we cease capitalizing costs on the completed portion of the project but continue to capitalize costs for the incomplete portion. When a portion of the development project is substantially complete and ready for its intended use, the project is placed into service and depreciation commences.
Common Development Cost Estimates for Land Sold.	The Company incurs common development costs that include actual costs incurred and estimates of future common development costs benefiting individual properties within a development project. Common development costs, if they cannot be specifically identified, are allocated to each sold parcel based upon its relative sales value. For purposes of allocating common development costs, estimates of future common development costs are re-evaluated throughout the development life cycle, with adjustments being allocated prospectively to the land parcels being developed.
Properties Held For Sale	Properties Held For Sale. Assets and liabilities of properties that meet various held for sale criteria, including whether it is probable that a sale will occur within 12 months, are presented separately on the consolidated balance sheets. Properties are held for sale for a period longer than 12 months if events or circumstances out of the Company's control occur that delay the sale and while management continues to be committed to the plan of sale and is performing actions necessary to respond to the conditions causing the delay the properties held for sale remain salable in their current condition. The operating results of these properties are reflected as discontinued operations on the consolidated statements of operations only if the sale of these assets represents a major strategic shift in operations; if not, the operating results are included in continuing operations. Properties classified as held for sale are carried at the lower of net carrying value or estimated fair value less costs to sell and depreciation and amortization are no longer recognized. Held for sale properties are evaluated quarterly to ensure that properties continue to meet the held for sale criteria. If properties are required to be reclassified from held for sale to held for use due to changes to a plan of sale, they are recorded at the lower of fair value or the carrying amount before the property was classified as held for sale, adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used. Properties that do not meet the held for sale criteria are accounted for as operating properties.
Deferred Expenses	Deferred Expenses. Deferred expenses consist primarily of revolving line of credit debt and leasing costs. Debt costs are amortized using the straight-line method, which approximates the interest method, over the terms of the debt instruments and leasing costs are amortized over the term of the related lease.
Investment in Sales-Type Leases	Investment in Sales-Type Leases . Investments in sales-type leases are accounted for under ASC 842 “Leases” (“ASC 842”). Upon lease commencement or lease modification, the Company assesses lease classification to determine whether the lease should be classified as a direct financing, sales-type or operating lease. As required by ASC 842, the Company separately assesses the land and building components of the property to determine the classification of each component unless the effect of separately accounting for the land component will be insignificant. If the lease is determined to be a direct financing or sales-type lease, the Company records a net investment in the lease, which is equal to the sum of the lease receivable and the unguaranteed residual asset, discounted at the rate implicit in the lease. Any difference between the fair value of the asset and the net investment in the lease is considered selling profit or loss and is either recognized upon execution of the lease or deferred and recognized over the life of the lease, depending on the lease classification and the collectability of the minimum lease payments. Initial direct costs are recognized as an expense if, at the commencement date, the fair value of the underlying asset is different from its carrying amount. If the fair value of the underlying asset equals its carrying amount, initial direct costs are deferred at the commencement date and included in the measurement of the net investment in the lease.
Allowance for Credit Losses	Allowance for Credit Losses. On January 1, 2020, the Company adopted ASC 326 “Financial Instruments-Credit Losses” (“ASC 326” or “CECL”), which requires that the Company measures and records current expected credit losses for its investments, the scope of which includes investment in sales-type leases in its consolidated balance sheets. The Company has elected to use a discounted cash flow model to estimate the allowance for credit losses. This model requires us to develop cash flows which is used to project estimated credit losses over the life of the lease and discount these cash flows at the asset’s effective interest rate. The Company then records an allowance equal to the difference between the amortized cost basis of the asset and the present value of the expected credit loss cash flows. Expected losses within the Company's cash flows are determined by estimating the probability of default of the tenant and their parent guarantors over the term of the lease. The Company evaluates the collectability of its investment in sales-type leases, net based various probability weighted default scenarios that include, but are not limited to, current payment status, the financial strength of its tenant and its parent guarantors, current economic conditions and 20 years of historical information on corporate defaults. The Company is unable to use its historical data to estimate losses as it has no relevant loss history to date. The allowance is recorded as a reduction to our investment in sales-type leases, net, on the consolidated balance sheets. The Company is required to update its allowance on a quarterly basis with the resulting change being recorded on the consolidated statement of operations for the relevant period. The Company regularly evaluates the extent and impact of any credit deterioration that could affect performance and the value of its investment in sales-type leases, as well as the financial and operating capability of the tenant. The Company also evaluates the tenant’s competency in managing and operating the secured property and considers the overall economic environment, real estate sector and geographic sub-market in which the secured property is located. If a tenant's credit deteriorates and it defaults under the terms of the sales-type lease, the Company puts the lease in non-accrual status until it is determined that all payments under the lease are probable of being collected. Write-offs are deducted from the allowance in the period in which they are deemed uncollectible. Recoveries previously written off are recorded when received.
Derivative Financial Instruments	Derivative Financial Instruments . The Company accounts for its interest rate swap agreements in accordance with FASB ASC Topic 815, Derivatives and Hedging (“Topic 815”). In accordance with Topic 815, these agreements are carried on the balance sheet at their respective fair values, as an asset if fair value is positive, or as a liability if fair value is negative. If the interest rate swap is designated as a cash flow hedge, the portion of the interest rate swap's change in fair value is reported as a component of other comprehensive income (loss). The Company also accounts for its share of cash flow hedges from non-consolidated entities as part of investment in non-consolidated entities and accumulated other comprehensive income (loss). Upon entering into hedging transactions, the Company documents the relationship between the interest rate swap agreement and the hedged item. The Company also documents its risk-management policies, including objectives and strategies, as they relate to its hedging activities. The Company assesses, both at inception of a hedge and on an ongoing basis, whether or not the hedge is highly effective. The Company will discontinue hedge accounting on a prospective basis with changes in the estimated fair value reflected in earnings when (1) it is determined that the derivative is no longer effective in offsetting cash flows of a hedged item (including forecasted transactions), (2) it is no longer probable that the forecasted transaction will occur or (3) it is determined that designating the derivative as an interest rate swap is no longer appropriate. The Company does and may continue to utilize interest rate swap and cap agreements to manage interest rate risk, but does not anticipate entering into derivative transactions for speculative trading purposes.
Stock Compensation	Stock Compensation. The Company maintains an equity participation plan. Non-vested share grants generally vest either based upon (1) time, (2) performance and/or (3) market conditions. All share-based payments to employees are recognized on the consolidated statements of operations based on their fair values. The Company has made an accounting policy election to account for share-based award forfeitures in compensation costs when they occur.
Tax Status	Tax Status. The Company has made an election to qualify, and believes it is operating so as to qualify, as a REIT for federal income tax purposes. Accordingly, the Company generally 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 Sections 856 through 860 of 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 under the Code. As such, the Company is subject to federal and state income taxes on the income from these activities. Income taxes, primarily related to the Company's taxable REIT subsidiaries, are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled.
Cash and Cash Equivalents	Cash and Cash Equivalents. The Company considers all highly liquid instruments with maturities of three months or less from the date of purchase to be cash equivalents.
Restricted Cash	Restricted Cash. Restricted cash is comprised primarily of cash balances held by lenders.
Short-Term Investments	Short-Term Investments. Short-term investments classified as held-to-maturity securities consist of term deposits and treasury bills that the Company has the ability and intent to hold to maturity. These short-term investments have an original maturity of greater than three months but less than 12 months and are recorded in short-term investments on the consolidated balance sheet. Held-to-maturity securities are recorded at amortized cost, which approximates fair value. The estimate of expected losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. We do not measure expected credit losses on held-to-maturity securities in which historical credit loss information adjusted for current conditions and reasonable and supportable forecasts results in an expectation that nonpayment of the amortized cost basis is zero.
Environmental Matters	Environmental Matters.
Segment Reporting	Segment Reporting. The Company operates in one operating segment, focused on single-tenant real estate assets.
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance . In November 2023, the 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. The Company adopted ASU 2023-07 and the adoption of this ASU did not have a material impact on the consolidated financial statements. See the enhanced disclosure in Note 15 "Segment Reporting".

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [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 on the consolidated balance sheets as of December 31, 2024 and 2023: December 31, 2024 December 31, 2023 Real estate, net $ 380,563 $ 535,118 Total assets $ 392,791 $ 626,442 Total liabilities $ 8,603 $ 19,549

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 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 each of the years in the three-year period ended December 31, 2024: 2024 2023 2022 BASIC: Net income attributable to common shareholders $ 37,922 $ 23,863 $ 107,307 Weighted-average number of common shares outstanding 291,472,930 290,245,877 279,887,760 Net income attributable to common shareholders - per common share basic $ 0.13 $ 0.08 $ 0.38 2024 2023 2022 DILUTED: Net income attributable to common shareholders - basic $ 37,922 $ 23,863 $ 107,307 Impact of assumed conversions — (58) 156 Net income attributable to common shareholders $ 37,922 $ 23,805 $ 107,463 Weighted-average common shares outstanding - basic 291,472,930 290,245,877 279,887,760 Effect of dilutive securities: Unvested share-based payment awards and options 87,063 127,251 457,597 Shares issuable under forward sales agreements — — 1,274,842 Operating Partnership Units — 820,386 853,259 Weighted-average common shares outstanding - diluted 291,559,993 291,193,514 282,473,458 Net income attributable to common shareholders - per common share diluted $ 0.13 $ 0.08 $ 0.38
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 for each of the years in the three-year period ended December 31, 2024: Years Ended December 31, 2024 2023 2022 Preferred shares - Series C 4,710,570 4,710,570 4,710,570

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	12 Months Ended
	Dec. 31, 2024
Real Estate [Abstract]
Schedule of Net Real Estate	The Company's real estate, net, consists of the following at December 31, 2024 and 2023: 2024 2023 Real estate, at cost: Buildings and building improvements $ 3,765,387 $ 3,424,334 Land, land estates and land improvements 399,685 348,133 Construction in progress 11,222 1,772 Real estate intangibles: In-place lease values 308,266 303,457 Tenant relationships 9,498 10,388 Above-market leases 680 680 Land held for development 82,827 80,743 Investments in real estate under construction 5,947 319,355 4,583,512 4,488,862 Accumulated depreciation and amortization (1) (1,047,166) (904,709) Real estate, net $ 3,536,346 $ 3,584,153 (1) Includes accumulated amortization of real estate intangible assets of $209,172 and $191,332 in 2024 and 2023, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $25,126 in 2025, $21,518 in 2026, $15,964 in 2027, $11,879 in 2028 and $10,737 in 2029. As of December 31, 2024, the details of the land held for industrial development are as follows (in $000's, except acres): Project (% owned) Market Approximate Acres (unaudited) GAAP Investment Balance as of 12/31/2024 LXP Amount Funded as of 12/31/2024 (1) Consolidated: Reems & Olive (95.5%) Phoenix, AZ 315 $ 75,324 $ 74,175 Mt. Comfort Phase II (80%) Indianapolis, IN 116 5,771 4,658 ATL Fairburn (100%) Atlanta, GA 14 1,732 1,768 445 $ 82,827 $ 80,601 (1) Excludes noncontrolling interests' share.
Schedule of Below Market Lease, Future Amortization Income	The estimated accretion for the next five years: Years ending December 31, Estimated Accretion 2025 $ 2,568 2026 1,215 2027 969 2028 681 2029 681 $ 6,114
Schedule Of Acquired Properties	The Company acquired or completed and placed into service the following assets during 2024 and 2023: 2024: Market (% owned) Acquisition/ Placed in Service Date Initial Cost Basis (1) Primary Lease Expiration Land Building and Improvements Lease in-place Value Intangible 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 — Central Florida (100%) (3) July 2024 12,401 N/A 2,752 9,649 — Columbus, OH (100%) August 2024 23,879 10/2029 3,113 20,766 — Savannah, GA (100%) October 2024 34,267 01/2034 5,612 25,602 3,053 Atlanta, GA (100%) November 2024 47,897 08/2027 2,728 41,180 3,989 Atlanta, GA (100%) November 2024 30,238 05/2029 2,378 25,861 1,999 Houston, TX (100%) November 2024 45,202 02/2034 6,084 28,526 10,592 Greenville/Spartanburg, SC (100%) (4) December 2024 66,324 12/2036 3,163 63,161 — $ 550,520 $ 62,281 $ 468,606 $ 19,633 Weighted-average life of intangible assets (years) 7.3 (1) Initial basis excludes certain remaining costs, such as tenant improvements, lease costs and developer incentive fees or partner promotes, if any. (2) The facility was placed in service vacant one year after the completion of base building construction in accordance with the Company's policy. (3) During 2024, the remaining portion of the facility, representing 58% of the facility, was placed in service vacant one year after the completion of base building construction. During 2023, a 57,690 square foot portion of the facility, representing 42% of the facility, was occupied by a tenant and placed into service. (4) During 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 facility subject to a 12-year lease, which was occupied by the tenant and placed into service in December 2024. In addition, during 2024, the Company acquired the fee interest in the land underlying its previously ground leased asset in Orlando, Florida and an additional land parcel with a 145,974 square foot tenant-constructed expansion for $7,609. 2023: Market (% owned) Acquisition/ Placed in Service Date Initial Primary Lease Expiration Land Building and Improvements Phoenix, AZ (100%) (1) March 2023 $ 37,173 08/2033 $ 7,552 $ 29,621 Dallas, TX (100%) July 2023 15,018 N/A 2,100 12,918 Columbus, OH (100%) (1) October 2023 64,524 10/2033 6,536 57,988 Greenville/Spartanburg, SC (100%) (1) October 2023 21,676 02/2029 1,795 19,881 Central Florida (100%) (1)(2) December 2023 7,985 01/2029 1,961 6,024 $ 146,376 $ 19,944 $ 126,432 (1) Initial basis excludes certain remaining costs, such as tenant improvements, lease costs and developer incentive fees or partner promotes, if any. (2) Represents a portion of the Central Florida development project placed into service.

Dispositions and Impairment (Ta

Dispositions and Impairment (Tables)	12 Months Ended
	Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities of Held for Sale Properties	Assets and liabilities of the held for sale properties consisted of the following: December 31, 2023 Assets: Real estate, at cost $ 9,018 Other 150 Total assets held for sale $ 9,168 Liabilities: Accounts payable and other liabilities $ 5 Deferred revenue 53 Prepaid rent 359 Total liabilities held for sale $ 417

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [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 December 31, 2024 and 2023, aggregated by the level in the fair value hierarchy within which those measurements fall: Fair Value Measurements Using Description 2024 (Level 1) (Level 2) (Level 3) Interest rate swap assets $ 6,134 $ — $ 6,134 $ — Fair Value Measurements Using Description 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 December 31, 2024 and 2023: As of December 31, 2024 As of December 31, 2023 Carrying Fair Value Carrying Fair Value Assets Investment in a sales-type lease, net $ — $ — $ 63,464 $ 62,500 Liabilities Debt $ 1,570,010 $ 1,459,062 $ 1,770,827 $ 1,630,066

Investments in Non-Consolidat_2

Investments in Non-Consolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investments in and Advances to Affiliates	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 December 31, 2024 2024 2023 2024 2023 2022 NNN MFG Cold JV L.P. (“MFG Cold JV”) (1) 20% $ 10,428 $ 19,693 $ (3,250) $ (3,300) $ (2,050) NNN Office JV L.P. (“Office JV”) (2) 20% 15,189 16,237 504 508 18,156 Etna Park 70 LLC (3) 90% 9,732 10,320 (264) (258) (137) Etna Park 70 East LLC (4) 90% 2,360 2,245 (167) (192) (174) BSH Lessee L.P. (5) —% — — — 4,608 211 Lombard Street Lots, LLC (6) 44.1% 2,309 — (2) — — $ 40,018 $ 48,495 $ (3,179) $ 1,366 $ 16,006 (1) MFG Cold JV is a joint venture formed in 2021 that owns special purpose industrial properties formerly owned by the Company. During 2024 MFG Cold JV sold one asset and the Company recognized its share of gain on sale of $9 in connection with the disposition of the asset, and, in addition, the Company recognized its share of a gain on debt satisfaction of $555 within equity in earnings (losses) of non-consolidated entities within its consolidated statement of operations. (2) Office JV is a joint venture formed in 2018 that owns office properties formerly owned by the Company. During 2024 and 2023, Office JV sold three and one assets, respectively, and the Company recognized its share of aggregate gains on sale of $1,382 and $1,010, respectively, within equity in earnings (losses) of non-consolidated entities within its consolidated statements of operations. (3) Joint venture formed in 2017 with a developer entity to acquire a parcel of land. In the second quarter of 2023, the joint venture commenced development of a 250,020 square foot industrial speculative development project for an estimated cost of $30,200. During 2023, the Company's wholly owned subsidiary purchased the land and building improvements for approximately $15,897 and recorded it in real estate, at cost on its consolidated balance sheets. (4) Joint venture formed in 2019 with a developer entity to acquire a parcel of land. (5) A joint venture investment that sold its sole asset in January 2023 and the Company recognized its 25% share of the gain on sale of $4,791 within equity in earnings (losses) of non-consolidated entities within its consolidated statements of operations. (6) The joint venture holds an interest in a parking garage in Baltimore, MD. In June 2024, the Company determined it no longer controlled and ceased to consolidate the operations of Lombard Street Lots, LLC in its 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.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Operating Lease, Lease Income	The following table presents the Company’s classification of rental revenue for its operating and sales-type leases for the years ended December 31, 2024, 2023 and 2022: Years Ended December 31, Classification 2024 2023 2022 Fixed $ 280,433 $ 275,186 $ 267,644 Sales-type lease income 22,027 7,427 1,936 Variable (1) 51,893 51,607 44,412 Total $ 354,353 $ 334,220 $ 313,992 (1) Primarily comprised of tenant reimbursements.
Lessor, Operating Lease, Payments to be Received, Maturity	Future fixed rental receipts for operating leases, assuming no new or re-negotiated leases as of December 31, 2024 were as follows: Year ending December 31, Operating 2025 $ 282,180 2026 271,036 2027 236,526 2028 199,846 2029 172,801 Thereafter 532,790 Total $ 1,695,179
Lease, Cost	Supplemental information related to operating leases is as follows: Years Ended December 31, 2024 2023 Weighted-average remaining lease term (years) Operating leases 8.7 8.7 Weighted-average discount rate Operating leases 4.2 % 4.0 % The components of lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows: Income Statement Classification Fixed Variable Total 2024: Property operating $ 3,487 $ 15 $ 3,502 General and administrative (1) 1,642 262 1,904 Total $ 5,129 $ 277 $ 5,406 2023: Property operating $ 3,539 $ 7 $ 3,546 General and administrative 1,521 280 1,801 Total $ 5,060 $ 287 $ 5,347 2022: Property operating $ 3,543 $ — $ 3,543 General and administrative 1,520 122 1,642 Total $ 5,063 $ 122 $ 5,185 (1) The general and administrative lease expense excludes a reduction of $718 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 December 31, 2024: Year ending December 31, Operating Leases 2025 $ 5,424 2026 4,451 2027 3,968 2028 1,356 2029 508 Thereafter 5,288 Total lease payments 20,995 Less: Imputed interest (3,881) Present value of lease liabilities $ 17,114

Allowance for Credit Loss (Tabl

Allowance for Credit Loss (Tables)	12 Months Ended
	Dec. 31, 2024
Credit Loss [Abstract]
Sales-type Lease, Net Investment in Lease, Allowance for Credit Loss	The following tables detail the allowance for credit loss as of December 31, 2023: As of December 31, 2023 Amortized cost Allowance Net Investment Allowance as a % of Amortized Cost Investment in a sales-type lease $ 63,525 $ (61) $ 63,464 0.10 % For the Twelve Months Ended December 31, 2023 Balance at Beginning of Period Write-Offs General Allowance Balance at End of Period Allowance for credit loss $ 93 $ — $ (32) $ 61

Mortgages and Notes Payable (Ta

Mortgages and Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The Company had the following mortgages and notes payable outstanding as of December 31, 2024 and 2023: December 31, 2024 December 31, 2023 Mortgages and notes payable $ 55,515 $ 60,888 Unamortized debt issuance costs (585) (764) $ 54,930 $ 60,124
Schedule of Line of Credit Facilities	The maturity dates and interest rates as of December 31, 2024, were 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 ranges from SOFR (plus a 0.10% index adjustment) plus 0.725% to 1.400%, and the revolving credit facility allows for further reductions upon the achievement of to-be-determined sustainability metrics. At December 31, 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 fixed-rate of 2.722% per annum, until January 31, 2025. In 2024, the Company entered into forward interest rate swap agreements designated as cash flow hedges to effectively fix the interest rate related to an aggregate notional amount of $250,000 of $300,000 of the term loan at an average interest rate of 4.31% from January 31, 2025 to January 31, 2027. The aggregate unamortized debt issuance costs for the term loan were $2,186 and $3,236 as of December 31, 2024 and 2023, respectively.
Schedule of Maturities of Long-term Debt	Scheduled principal and balloon payments for mortgages, notes payable and term loan for the next five years and thereafter are as follows: Year ending December 31, Total 2025 $ 5,570 2026 5,773 2027 305,984 2028 2,223 2029 960 Thereafter 35,005 355,515 Unamortized debt issuance costs (2,771) $ 352,744 Scheduled principal payments for these debt instruments for the next five years and thereafter are as follows: Year ending December 31, Total 2025 $ — 2026 — 2027 — 2028 300,000 2029 — Thereafter 929,120 1,229,120 Unamortized debt discounts (3,731) Unamortized debt issuance costs (8,123) $ 1,217,266

Senior Notes, Convertible Not_2

Senior Notes, Convertible Notes and Trust Preferred Securities (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt Instrument Redemption	The Company had the following Senior Notes outstanding as of December 31, 2024 and 2023: Issue Date December 31, 2024 December 31, 2023 Interest Rate Maturity Date Issue Price May 2014 $ — $ 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 (3,731) (4,489) Unamortized debt issuance cost (6,896) (8,298) $ 1,089,373 $ 1,286,145
Schedule of Maturities of Long-term Debt	Scheduled principal and balloon payments for mortgages, notes payable and term loan for the next five years and thereafter are as follows: Year ending December 31, Total 2025 $ 5,570 2026 5,773 2027 305,984 2028 2,223 2029 960 Thereafter 35,005 355,515 Unamortized debt issuance costs (2,771) $ 352,744 Scheduled principal payments for these debt instruments for the next five years and thereafter are as follows: Year ending December 31, Total 2025 $ — 2026 — 2027 — 2028 300,000 2029 — Thereafter 929,120 1,229,120 Unamortized debt discounts (3,731) Unamortized debt issuance costs (8,123) $ 1,217,266

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets at Fair Value	The following table summarizes the terms of our outstanding derivative financial instruments on the Company's balance sheet as of December 31, 2024 and December 31, 2023: Derivative Type Number of Instruments Effective Date Maturity Date Notional Value Fair Value of Asset/(Liability) December 31, 2024 December 31, 2023 Term Loan Interest Rate Swap 4 7/1/2022 1/31/2025 $ 300,000 $ 678 $ 9,471 Term Loan Forward Interest Rate Swap 5 1/31/2025 1/31/2027 250,000 3,762 — Trust Preferred Securities Interest Rate Swap 2 10/30/2024 10/30/2027 82,500 1,694 — $ 632,500 $ 6,134 $ 9,471
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The table below present the effect of the Company's derivative financial instruments on the consolidated statements of operations for 2024 and 2023: Derivatives in Cash Flow Amount of Gain Recognized Amount of (Income) Loss Reclassified from Accumulated OCI into Income (1) December 31, Hedging Relationships 2024 2023 2024 2023 Interest Rate Swap $ 7,651 $ 3,496 $ (10,989) $ (10,343) The Company's share of non-consolidated entity's interest rate cap 151 158 (160) (1,517) Total $ 7,802 $ 3,654 $ (11,149) $ (11,860) (1) Amounts reclassified from accumulated other comprehensive income (loss) to interest expense within the consolidated statements of operations.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income Loss	A summary of the changes in accumulated other comprehensive income related to the Company's cash flow hedges is as follows: Years ended December 31, 2024 2023 Balance at beginning of period $ 9,483 $ 17,689 Other comprehensive income before reclassifications 7,802 3,654 Amounts of (income) reclassified from accumulated other comprehensive income to interest expense (11,149) (11,860) Balance at end of period $ 6,136 $ 9,483
Effects of Changes in the Company's Ownership Interests in Noncontrolling Interests	The following discloses the effects of changes in the Company's ownership interests in its noncontrolling interests: Net Income Attributable to Shareholders and Transfers from Noncontrolling Interests 2024 2023 2022 Net income attributable to LXP Industrial Trust shareholders $ 44,534 $ 30,383 $ 113,783 Transfers from noncontrolling interests: Increase in additional paid-in-capital for redemption of noncontrolling OP units — 3,393 211 Change from net income attributable to shareholders and transfers from noncontrolling interests $ 44,534 $ 33,776 $ 113,994

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Nonvested Share Activity	Non-vested share activity for the years ended December 31, 2024 and 2023, is as follows: Number of Weighted-Average Grant-Date Fair Balance at December 31, 2022 2,058,890 $ 8.70 Granted 1,191,697 7.97 Vested (526,453) 9.08 Forfeited (184,661) 6.34 Balance at December 31, 2023 2,539,473 8.45 Granted 1,570,459 7.33 Vested (425,302) 10.37 Forfeited (459,230) 6.66 Balance at December 31, 2024 3,225,400 $ 7.90
Schedule of Share-based Compensation, Activity	During 2024 and 2023, the Company granted common shares to certain employees and trustees as follows: 2024 2023 Performance Shares (1) Shares issued: Index 489,182 407,611 Peer 489,177 407,606 Grant date fair value per share: (2) Index $ 6.01 $ 6.96 Peer $ 5.68 $ 6.50 Non-Vested Common Shares: (3) Shares issued 592,100 376,480 Grant date fair value $ 5,794 $ 4,010 (1) The shares vest based on the Company's total shareholder return growth after a three-year measurement period relative to an index and a group of Company peers. Dividends will not be paid on these grants until earned. Once the performance criteria are met and the actual number of shares earned is determined, such shares vest immediately. During 2024, 119,519 of the 565,652 outstanding performance shares issued in 2021 vested. (2) The fair value of grants was determined at the grant date using a Monte Carlo simulation model. (3) The shares vest at various times over a period of time up to a three year service period commencing on the grant date.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The Company's provision for income taxes for the years ended December 31, 2024, 2023 and 2022 is summarized as follows: 2024 2023 2022 Current: Federal $ — $ — $ — State and local 50 (774) (1,120) Deferred federal 77 71 18 Total $ 127 $ (703) $ (1,102)
Statutory Accounting Practices Disclosure	The income tax provision differs from the amount computed by applying the statutory federal income tax rate to pre-tax operating income as follows: 2024 2023 2022 Federal provision at statutory tax rate (21%) $ 77 $ 71 $ 18 State and local taxes, net of federal benefit — — — Other 50 (774) (1,120) Total $ 127 $ (703) $ (1,102)
Summary of Average Taxable Nature of Dividends	A summary of the average taxable nature of the Company's common dividends for each of the years in the three-year period ended December 31, 2024, is as follows: 2024 2023 2022 Total dividends per share $ 0.52 $ 0.50 $ 0.48 Ordinary income 55.65 % 71.67 % 81.26 % Qualifying dividend — % — % — % Capital gain 41.58 % — % — % Return of capital 2.77 % 28.33 % 18.74 % 100.00 % 100.00 % 100.00 % A summary of the average taxable nature of the Company's dividend on shares of its Series C Preferred for each of the years in the three-year period ended December 31, 2024, is as follows: 2024 2023 2022 Total dividends per share $ 3.25 $ 3.25 $ 3.25 Ordinary income 57.23 % 100.00 % 100.00 % Qualifying dividend — % — % — % Capital gain 42.77 % — % — % Return of capital — % — % — % 100.00 % 100.00 % 100.00 %

Supplemental Disclosure of St_2

Supplemental Disclosure of Statement of Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	2024 2023 2022 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents at beginning of period $ 199,247 $ 54,390 $ 190,926 Restricted cash at beginning of period 216 116 101 Cash, cash equivalents and restricted cash at beginning of period $ 199,463 $ 54,506 $ 191,027 Cash and cash equivalents at end of period $ 101,836 $ 199,247 $ 54,390 Restricted cash at end of period 237 216 116 Cash, cash equivalents and restricted cash at end of period $ 102,073 $ 199,463 $ 54,506

The Company and Financial Sta_2

The Company and Financial Statement Presentation (Details)	Dec. 31, 2024 state property
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of consolidated properties | property	119
Number of states in which entity has interests | state	17

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024 jointVenture segment	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($)
Property, Plant and Equipment [Line Items]
Joint venture interests | jointVenture	5
Redemption of noncontrolling OP units for common shares | $		$ 415	$ 0
Number of operating segments | segment	1
Building and improvements
Property, Plant and Equipment [Line Items]
Maximum useful life of PPE (in years)	40 years
Variable Interest Entity, Primary Beneficiary | LCIF Partnership
Property, Plant and Equipment [Line Items]
Percentage of ownership purchased		0.925%
Number of LCIF partnership units converted (in units) | shares		730,623.5
Common shares issued (in shares) | shares		822,627
Shares issued, price per share (in dollars per share) | $ / shares		$ 9.47
Value of shares redeemed | $		$ 7,800
Redemption of noncontrolling OP units for common shares | $		$ 3,344
On-Going Development Projects
Property, Plant and Equipment [Line Items]
Joint venture interests | jointVenture	3
Land Joint Ventures
Property, Plant and Equipment [Line Items]
Joint venture interests | jointVenture	2
Joint Ventures With Developers | Minimum
Property, Plant and Equipment [Line Items]
Joint venture, ownership percentage	80%
Joint Ventures With Developers | Maximum
Property, Plant and Equipment [Line Items]
Joint venture, ownership percentage	95.50%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Variable Interest Entities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Real estate, net	$ 3,536,346	$ 3,584,153
Total assets	3,843,312	4,192,775
Total liabilities	1,722,529	1,927,318
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Real estate, net	380,563	535,118
Total assets	392,791	626,442
Total liabilities	$ 8,603	$ 19,549

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share Reconciliation (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
BASIC:
Net income attributable to common shareholders	$ 37,922	$ 23,863	$ 107,307
Weighted-average common shares outstanding - basic (in shares)	291,472,930	290,245,877	279,887,760
Net income attributable to common shareholders - per common share basic (usd per share)	$ 0.13	$ 0.08	$ 0.38
DILUTED:
Net income attributable to common shareholders - basic	$ 37,922	$ 23,863	$ 107,307
Impact of assumed conversions	0	(58)	156
Net income attributable to common shareholders	$ 37,922	$ 23,805	$ 107,463
Weighted-average common shares outstanding - basic (in shares)	291,472,930	290,245,877	279,887,760
Effect of dilutive securities:
Unvested share-based payment awards and options (in shares)	87,063	127,251	457,597
Shares issuable under forward sales agreements (in shares)	0	0	1,274,842
Operating Partnership Units (in shares)	0	820,386	853,259
Weighted-average common shares outstanding (in shares)	291,559,993	291,193,514	282,473,458
Net income attributable to common shareholders - per common share diluted (usd per share)	$ 0.13	$ 0.08	$ 0.38

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Preferred shares - Series C
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive shares excluded from the dilutive earnings per share calculation	4,710,570	4,710,570	4,710,570

Investments in Real Estate - Sc

Investments in Real Estate - Schedule of Net Real Estate (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Real Estate [Line Items]
Buildings and building improvements	$ 3,765,387	$ 3,424,334
Land, land estates and land improvements	399,685	348,133
Construction in progress	11,222	1,772
Real estate - intangible assets	318,444	314,525
Land held for development	82,827	80,743
Investments in real estate under construction	5,947	319,355
Real estate, gross	4,583,512	4,488,862
Accumulated depreciation and amortization	(1,047,166)	(904,709)
Real estate, net	3,536,346	3,584,153
Accumulated amortization	209,172	191,332
Amortization expense, next 12 months	25,126
Amortization expense, year 2	21,518
Amortization expense, year 3	15,964
Amortization expense, year 4	11,879
Amortization expense, year 5	10,737
In-place lease values
Real Estate [Line Items]
Real estate - intangible assets	308,266	303,457
Tenant relationships
Real Estate [Line Items]
Real estate - intangible assets	9,498	10,388
Above-market leases
Real Estate [Line Items]
Real estate - intangible assets	$ 680	$ 680

Investments in Real Estate - Ad

Investments in Real Estate - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Real Estate [Line Items]
Below-market leases, net of accretion	$ 6,722	$ 9,385
Payments to acquire real estate	161,979	15,018	$ 132,026
Investments in real estate under construction	$ 5,947	$ 319,355
Industrial Property | Orlando, Florida warehouse
Real Estate [Line Items]
Area of Real Estate Property | ft²	145,974
Payments to acquire real estate	$ 7,609

Investments in Real Estate - _2

Investments in Real Estate - Schedule of Below Market Lease, Future Amortization Income (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Real Estate [Abstract]
2025	$ 2,568
2026	1,215
2027	969
2028	681
2029	681
Total	$ 6,114

Investments in Real Estate - _3

Investments in Real Estate - Schedule of Real Estate Acquisitions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) a	Dec. 31, 2023 USD ($) ft²	Dec. 31, 2022 USD ($)
Real Estate [Line Items]
Real estate, at cost	$ 4,176,294	$ 3,774,239
Payments to acquire real estate	$ 161,979	15,018	$ 132,026
In-place lease values
Real Estate [Line Items]
Weighted-average life of intangible assets (years)	7 years 3 months 18 days
Industrial Property
Real Estate [Line Items]
Real estate, at cost	$ 550,520	146,376
Land	62,281	19,944
Building and Improvements	468,606	$ 126,432
Lease in-place Value Intangible	$ 19,633
Phoenix, AZ | Industrial Property | Phoenix, AZ Industrial Property, Lease Expiring January 2031
Real Estate [Line Items]
Project (% owned)	100%
Real estate, at cost	$ 52,767
Land	9,449
Building and Improvements	43,318
Lease in-place Value Intangible	$ 0
Phoenix, AZ | Industrial Property | Phoenix, AZ Industrial Property Expiring August 2033
Real Estate [Line Items]
Project (% owned)		100%
Real estate, at cost		$ 37,173
Land		7,552
Building and Improvements		$ 29,621
Central Florida | Industrial Property
Real Estate [Line Items]
Period after completion of base building construction, placed in service	1 year
% Lease as of end of period	58%
Central Florida | Industrial Property | Real Estate Investment Property Leased
Real Estate [Line Items]
Area of Real Estate Property | ft²		57,690
Central Florida | Industrial Property | Central Florida Industrial Property, Lease Expiration Date Not Available, Placed In Service, February 2024
Real Estate [Line Items]
Project (% owned)	80%
Real estate, at cost	$ 80,825
Land	10,618
Building and Improvements	70,207
Lease in-place Value Intangible	$ 0
Central Florida | Industrial Property | Central Florida Industrial Property, Lease Expiration Date Not Available
Real Estate [Line Items]
Project (% owned)	100%
Real estate, at cost	$ 19,021
Land	4,493
Building and Improvements	14,528
Lease in-place Value Intangible	$ 0
Period after completion of base building construction, placed in service	1 year
Central Florida | Industrial Property | Central Florida Industrial Property, Lease Expiration Date Not Available, Placed In Service July 2024
Real Estate [Line Items]
Project (% owned)	100%
Real estate, at cost	$ 12,401
Land	2,752
Building and Improvements	9,649
Lease in-place Value Intangible	$ 0
% Lease as of end of period		42%
Central Florida | Industrial Property | Central Florida Industrial Property, Expiring January 2029
Real Estate [Line Items]
Project (% owned)		100%
Real estate, at cost		$ 7,985
Land		1,961
Building and Improvements		$ 6,024
Indianapolis, IN | Industrial Property | Indianapolis, IN Industrial Property, Lease Expiration Date Not Available
Real Estate [Line Items]
Project (% owned)	80%
Real estate, at cost	$ 64,285
Land	5,126
Building and Improvements	59,159
Lease in-place Value Intangible	$ 0
Greenville/Spartanburg, SC | Industrial Property | Greenville-Spartanburg, SC, Industrial Property, Lease Expiration Date Not Available
Real Estate [Line Items]
Project (% owned)	90%
Real estate, at cost	$ 73,414
Land	6,765
Building and Improvements	66,649
Lease in-place Value Intangible	$ 0
Greenville/Spartanburg, SC | Industrial Property | Greenville/Spartanburg, SC Industrial Property Expiring December 2036
Real Estate [Line Items]
Project (% owned)	100%
Real estate, at cost	$ 66,324
Land	3,163
Building and Improvements	63,161
Lease in-place Value Intangible	0
Payments to acquire real estate	$ 3,416
Term of lease	12 years
Greenville/Spartanburg, SC | Industrial Property | Greenville/Spartanburg, SC Industrial Property Expiring December 2036 | Real Estate Investment Property Leased
Real Estate [Line Items]
Number of acres purchased | a	59.1
Greenville/Spartanburg, SC | Industrial Property | Greenville/Spartanburg, SC Industrial Property Expiring Feburary 2029
Real Estate [Line Items]
Project (% owned)		100%
Real estate, at cost		$ 21,676
Land		1,795
Building and Improvements		$ 19,881
Columbus, OH | Industrial Property | Columbus, OH Industrial Property, Lease Expiration Date October 2029
Real Estate [Line Items]
Project (% owned)	100%
Real estate, at cost	$ 23,879
Land	3,113
Building and Improvements	20,766
Lease in-place Value Intangible	$ 0
Dallas, TX | Industrial Property | Dallas, TX Industrial Property
Real Estate [Line Items]
Project (% owned)		100%
Real estate, at cost		$ 15,018
Land		2,100
Building and Improvements		$ 12,918
Columbus, OH | Industrial Property | Columbus, Ohio Industrial Property Expiring October 2033
Real Estate [Line Items]
Project (% owned)		100%
Real estate, at cost		$ 64,524
Land		6,536
Building and Improvements		$ 57,988
Savannah, GA | Industrial Property | Savannah, GA Industrial Property, Lease Expiration Date January, 2034
Real Estate [Line Items]
Project (% owned)	100%
Real estate, at cost	$ 34,267
Land	5,612
Building and Improvements	25,602
Lease in-place Value Intangible	$ 3,053
Atlanta, GA | Industrial Property | Atlanta, GA Industrial Property, Lease Expiration Date August, 2027
Real Estate [Line Items]
Project (% owned)	100%
Real estate, at cost	$ 47,897
Land	2,728
Building and Improvements	41,180
Lease in-place Value Intangible	$ 3,989
Atlanta, GA | Industrial Property | Atlanta, GA Industrial Property, Lease Expiration Date May, 2029
Real Estate [Line Items]
Project (% owned)	100%
Real estate, at cost	$ 30,238
Land	2,378
Building and Improvements	25,861
Lease in-place Value Intangible	$ 1,999
Houston, TX | Industrial Property | Houston, TX Industrial Property, Lease Expiration Date February 2034
Real Estate [Line Items]
Project (% owned)	100%
Real estate, at cost	$ 45,202
Land	6,084
Building and Improvements	28,526
Lease in-place Value Intangible	$ 10,592

Investments in Real Estate - La

Investments in Real Estate - Land Held for Development (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) a	Dec. 31, 2023 USD ($)
Real Estate [Line Items]
Approximate Acres (unaudited) | a	445
GAAP Investment Balance as of end of period	$ 82,827	$ 80,743
LXP Amount Funded as of end of period	$ 80,601
Reems & Olive | Phoenix, AZ
Real Estate [Line Items]
Project (% owned)	95.50%
Approximate Acres (unaudited) | a	315
GAAP Investment Balance as of end of period	$ 75,324
LXP Amount Funded as of end of period	$ 74,175
Mt. Comfort Phase II | Indianapolis, IN
Real Estate [Line Items]
Project (% owned)	80%
Approximate Acres (unaudited) | a	116
GAAP Investment Balance as of end of period	$ 5,771
LXP Amount Funded as of end of period	$ 4,658
Fairburn JV | Atlanta, GA
Real Estate [Line Items]
Project (% owned)	100%
Approximate Acres (unaudited) | a	14
GAAP Investment Balance as of end of period	$ 1,732
LXP Amount Funded as of end of period	$ 1,768

Dispositions and Impairment - A

Dispositions and Impairment - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate gain on sale of properties	$ 39,848	$ 33,010	$ 59,094
Properties classified as held-for-sale (in number of properties) | property	0	2
Asset impairment charges	$ 0	$ 16,490	3,037
Disposal Group, Disposed of by Sale, not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of property	181,050	100,152	196,989
Aggregate gain on sale of properties	$ 39,848	$ 33,010	$ 59,094

Dispositions and Impairment - S

Dispositions and Impairment - Schedule of Properties Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Real estate, at cost		$ 9,018
Other		150
Assets held for sale		9,168
Liabilities:
Accounts payable and other liabilities		5
Deferred revenue		53
Prepaid rent		359
Liabilities held for sale	$ 0	$ 417

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Measurements Inputs (Details) $ in Thousands	Dec. 31, 2024 USD ($) year	Dec. 31, 2023 USD ($)
Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input | year	0.100
Residual Capitalization Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input | year	0.080
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap assets	$ 6,134	$ 9,471
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired assets held for sale		9,170
(Level 1) | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap assets	0	0
(Level 1) | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired assets held for sale		0
(Level 2) | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap assets	6,134	9,471
(Level 2) | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired assets held for sale		0
(Level 3) | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap assets	$ 0	0
(Level 3) | 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 Measurements - Fair

Fair Value Measurements - Fair Value, by Balance Sheet Grouping (Details) - (Level 3) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Carrying Amount
Assets:
Investment in a sales-type lease, net	$ 0	$ 63,464
Liabilities
Debt	1,570,010	1,770,827
Fair Value
Assets:
Investment in a sales-type lease, net	0	62,500
Liabilities
Debt	$ 1,459,062	$ 1,630,066

Investments in Non-Consolidat_3

Investments in Non-Consolidated Entities - Schedule of Investments in and Non-consolidated Entities (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2023 USD ($)	Dec. 31, 2024 USD ($) property officeAsset	Dec. 31, 2023 USD ($) ft² officeAsset	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Investment Balance as of December 31,		$ 40,018	$ 48,495
Equity in earnings (losses) of non-consolidated entities Years ended December 31,		(3,179)	1,366	$ 16,006
Aggregate gain on sale of properties		39,848	33,010	59,094
Gain on change in control of a subsidiary		209	0	0
Total assets		3,843,312	4,192,775
Total liabilities		1,722,529	1,927,318
Debt satisfaction losses, net		0	$ (132)	(119)
Lombard Street Lots, LLC
Schedule of Equity Method Investments [Line Items]
Gain on change in control of a subsidiary		209
Total assets		4,608
Total liabilities		$ 4
ETNA Building D | Real Estate Investment Properties Available For Lease | Columbus, OH
Schedule of Equity Method Investments [Line Items]
Area of Real Estate Property | ft²			250,020
NNN MFG Cold JV L.P.
Schedule of Equity Method Investments [Line Items]
Percent ownership at end of period		20%
Investment Balance as of December 31,		$ 10,428	$ 19,693
Equity in earnings (losses) of non-consolidated entities Years ended December 31,		$ (3,250)	(3,300)	(2,050)
Number of properties sold | property		1
Aggregate gain on sale of properties		$ 9
Debt satisfaction losses, net		$ 555
NNN Office JV L.P.
Schedule of Equity Method Investments [Line Items]
Percent ownership at end of period		20%
Investment Balance as of December 31,		$ 15,189	16,237
Equity in earnings (losses) of non-consolidated entities Years ended December 31,		$ 504	$ 508	18,156
NNN Office JV L.P. | NNN Office Joint Venture Properties
Schedule of Equity Method Investments [Line Items]
Number of properties sold | officeAsset		3	1
Income (loss) from equity method investments, gain on sale of assets		$ 1,382	$ 1,010
Etna Park 70 LLC
Schedule of Equity Method Investments [Line Items]
Percent ownership at end of period		90%	90%
Investment Balance as of December 31,		$ 9,732	$ 10,320
Equity in earnings (losses) of non-consolidated entities Years ended December 31,		(264)	(258)	(137)
Estimated construction costs			30,200
Construction in process purchased by subsidiary		$ 15,897
Etna Park 70 East LLC
Schedule of Equity Method Investments [Line Items]
Percent ownership at end of period		90%
Investment Balance as of December 31,		$ 2,360	2,245
Equity in earnings (losses) of non-consolidated entities Years ended December 31,		$ (167)	(192)	(174)
BSH Lessee L.P.
Schedule of Equity Method Investments [Line Items]
Percent ownership at end of period		0%
Investment Balance as of December 31,		$ 0	0
Equity in earnings (losses) of non-consolidated entities Years ended December 31,		$ 0	4,608	211
BSH Lessee L.P. | BSH Lessee Joint Venture Properties
Schedule of Equity Method Investments [Line Items]
Aggregate gain on sale of properties	$ 4,791
Lombard Street Lots, LLC
Schedule of Equity Method Investments [Line Items]
Percent ownership at end of period		44.10%
Investment Balance as of December 31,		$ 2,309	0
Equity in earnings (losses) of non-consolidated entities Years ended December 31,		(2)	$ 0	$ 0
Fair value of investment		$ 2,311

Investments in Non-Consolidat_4

Investments in Non-Consolidated Entities - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments in and Advances to Affiliates [Line Items]
Investment advisory fees	$ 4,105	$ 6,283	$ 7,253
Lexington Reality Advisors Inc | Investment Advice
Investments in and Advances to Affiliates [Line Items]
Investment advisory fees	$ 4,105	$ 4,337	$ 5,615

Leases - Additional information

Leases - Additional information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) tenant groundLease
Lessee, Lease, Description [Line Items]
Number of ground leases	0		1
Selling profit from sales-type leases	$ 0	$ 0	$ 47,059
Net Investment	0	63,464
Number of tenants exercising purchase option | tenant			2
Sublease income	3,295	3,320	$ 3,320
Sales-type lease income	$ 22,027	7,427	1,936
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term (up to)	32 years
Phoenix, AZ
Lessee, Lease, Description [Line Items]
Selling profit from sales-type leases			36,875
Sales-type lease, direct cost			4,119
Net Investment	$ 86,522
Sales-type lease, interest income	14,991
Sales-type lease income	5,604
Unspecified
Lessee, Lease, Description [Line Items]
Selling profit from sales-type leases			10,184
Net Investment			34,841
COVID-19 Pandemic
Lessee, Lease, Description [Line Items]
Rent revenue reduced	$ 0	$ 0	$ 417

Leases - Lease Income (Details)

Leases - Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Fixed	$ 280,433	$ 275,186	$ 267,644
Sales-type lease income	22,027	7,427	1,936
Variable	51,893	51,607	44,412
Total	$ 354,353	$ 334,220	$ 313,992

Leases - Future Fixed Rental Re

Leases - Future Fixed Rental Receipts (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Total
2025	$ 282,180
2026	271,036
2027	236,526
2028	199,846
2029	172,801
Thereafter	532,790
Total	$ 1,695,179

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details)	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted-average remaining lease term, operating leases (years)	8 years 8 months 12 days	8 years 8 months 12 days
Weighted-average discount rate, operating leases	4.20%	4%

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Fixed	$ 5,129	$ 5,060	$ 5,063
Variable	277	287	122
Total	5,406	5,347	5,185
Sublease income	3,295	3,320	3,320
Property operating
Lessee, Lease, Description [Line Items]
Fixed	3,487	3,539	3,543
Variable	15	7	0
Total	3,502	3,546	3,543
General and administrative
Lessee, Lease, Description [Line Items]
Fixed	1,642	1,521	1,520
Variable	262	280	122
Total	1,904	$ 1,801	$ 1,642
Sublease income	$ 718

Leases - Operating Lease Liabil

Leases - Operating Lease Liabilities Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
2025	$ 5,424
2026	4,451
2027	3,968
2028	1,356
2029	508
Thereafter	5,288
Total lease payments	20,995
Less: Imputed interest	(3,881)
Present value of lease liabilities	$ 17,114	$ 20,233

Allowance for Credit Loss - Add

Allowance for Credit Loss - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Credit Loss [Abstract]
Allowance for credit loss, sales-type lease	$ (61)	$ (32)	$ 93

Allowance for Credit Loss - Sal

Allowance for Credit Loss - Sales-Type Lease, Allowance (Details) $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Credit Loss [Abstract]
Amortized cost		$ 63,525
Allowance		(61)
Net Investment	$ 0	$ 63,464
Allowance as a % of Amortized Cost		0.0010

Allowance for Credit Loss - Inv

Allowance for Credit Loss - Investment in Sales-Type Lease (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Sales-type Lease, Net Investment in Lease, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ 61
Write-Offs		$ 0
General Allowance	$ (61)	(32)	$ 93
Balance at End of Period		$ 61

Mortgages and Notes Payable - S

Mortgages and Notes Payable - Schedule of Mortgages and Notes Payable (Details) - Mortgages and Notes Payable - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Mortgages and notes payable	$ 55,515	$ 60,888
Unamortized debt issuance costs	(585)	(764)
Long-term debt	$ 54,930	$ 60,124

Mortgages and Notes Payable - A

Mortgages and Notes Payable - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Interest paid, capitalized	$ 3,884	$ 11,059	$ 7,235
Construction in progress, capitalized interest	$ 54	$ 8,134
Mortgages and Notes Payable
Debt Instrument [Line Items]
Weighted-average interest rate	4.10%	4%
Minimum | Mortgages and Notes Payable
Debt Instrument [Line Items]
Effective interest percentage	3.50%	3.50%
Maximum | Mortgages and Notes Payable
Debt Instrument [Line Items]
Effective interest percentage	4.30%	4.30%

Mortgages and Notes Payable - C

Mortgages and Notes Payable - Credit Agreement Terms (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Notional amount	$ 632,500
Unsecured Term Loan
Debt Instrument [Line Items]
Debt issuance costs	$ 2,186	$ 3,236
Unsecured Revolving Credit Facility, Expiring February 2023 | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.85%
Line of credit remaining borrowing capacity	$ 600,000
Unsecured Revolving Credit Facility, Expiring February 2023 | Unsecured Term Loan
Debt Instrument [Line Items]
Revolving credit facility borrowings	600,000
Unsecured Term Loan, Expiring January 2025 | Unsecured Term Loan
Debt Instrument [Line Items]
Face amount	$ 300,000
Basis spread on variable rate	1%
Notional amount	$ 250,000
Revolving Credit Facility Expires in July 2026 | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate, increase (decrease) during period	0.0010
Revolving Credit Facility Expires in July 2026 | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.725%
Revolving Credit Facility Expires in July 2026 | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.40%
Unsecured Term Loan, Expiring January 2027 | Unsecured Term Loan | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate from interest rate swap	2.722%
Term Loan Forward Swap | Unsecured Term Loan
Debt Instrument [Line Items]
Derivative, average variable interest rate	4.31%

Mortgages and Notes Payable - M

Mortgages and Notes Payable - Maturities of Long-term Debt (Details) - Mortgages, Notes Payable and Term Loan $ in Thousands	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
2025	$ 5,570
2026	5,773
2027	305,984
2028	2,223
2029	960
Thereafter	35,005
Long-term debt, gross	355,515
Unamortized debt issuance costs	(2,771)
Long-term debt	$ 352,744

Senior Notes, Convertible Not_3

Senior Notes, Convertible Notes and Trust Preferred Securities - Schedule of Long-term Debt Instruments (Details) - Senior Notes - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Nov. 30, 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,100,000	$ 1,298,932
Unamortized debt discounts	(3,731)	(4,489)
Unamortized debt issuance costs	(6,896)	(8,298)
Long-term debt	1,089,373	1,286,145
Senior Notes Due 2024
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	198,932
Interest rate	4.40%		4.40%
Issue Price	99.883%
Senior Notes Due 2028
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	300,000
Unamortized debt discounts			$ (1,731)
Interest rate	6.75%		6.75%
Issue Price	99.423%		99.423%
Senior Notes Due 2030
Debt Instrument [Line Items]
Long-term debt, gross	$ 400,000	400,000
Interest rate	2.70%
Issue Price	99.233%
Senior Notes Due 2031
Debt Instrument [Line Items]
Long-term debt, gross	$ 400,000	$ 400,000
Interest rate	2.375%
Issue Price	99.758%

Senior Notes, Convertible Not_4

Senior Notes, Convertible Notes and Trust Preferred Securities - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Nov. 30, 2023	Dec. 31, 2007
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notional amount	$ 632,500
Senior Notes
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt instrument, unamortized discount	3,731	$ 4,489
Debt issuance costs	$ 6,896	8,298
Senior Notes | Senior Notes Due 2028
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount			$ 300,000
Interest rate	6.75%		6.75%
Issue price	99.423%		99.423%
Debt instrument, unamortized discount			$ 1,731
Senior Notes | Senior Notes Due 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	4.40%		4.40%
Issue price	99.883%
6.804% Trust Preferred Securities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount				$ 200,000
Interest rate, effective percentage	6.55%
Trust Preferred Securities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal amount outstanding on Trust Preferred Securities	$ 129,120	129,120
Debt issuance costs	1,227	$ 1,326
Notional amount	$ 82,500
Weighted-average interest rate	5.69%
Trust Preferred Securities | Trust Preferred Securities Due In 2037
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustment to interest rate	0.26%
Basis spread on variable rate	1.70%
Trust Preferred Securities | Trust Preferred Forward Swap Securities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Derivative, average variable interest rate	5.20%

Senior Notes, Convertible Not_5

Senior Notes, Convertible Notes and Trust Preferred Securities - Schedule of Maturities of Long-term Debt (Details) - Senior Notes, Convertible Notes, and Trust Preferred Securities $ in Thousands	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
2025	$ 0
2026	0
2027	0
2028	300,000
2029	0
Thereafter	929,120
Long-term debt, gross	1,229,120
Unamortized debt discounts	(3,731)
Unamortized debt issuance costs	(8,123)
Long-term debt	$ 1,217,266

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Schedule of the terms of our outstanding financial instruments on the company's balance sheet (Details) $ in Thousands	Dec. 31, 2024 USD ($) instrument	Dec. 31, 2023 USD ($)
Derivative [Line Items]
Fair Value of Asset/(Liability)	$ 6,134	$ 9,471
Notional Value	632,500
Term Loan Interest Rate Swap
Derivative [Line Items]
Fair Value of Asset/(Liability)	678	9,471
Notional Value	$ 300,000
Term Loan Interest Rate Swap | Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Number of Instruments | instrument	4
Term Loan Forward Interest Rate Swap
Derivative [Line Items]
Fair Value of Asset/(Liability)	$ 3,762	0
Notional Value	$ 250,000
Term Loan Forward Interest Rate Swap | Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Number of Instruments | instrument	5
Trust Preferred Securities Interest Rate Swap
Derivative [Line Items]
Fair Value of Asset/(Liability)	$ 1,694	$ 0
Notional Value	$ 82,500
Trust Preferred Securities Interest Rate Swap | Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Number of Instruments | instrument	2

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Amount reclassified as decrease to interest expense	$ 3,366
Interest expense	66,477	$ 46,389	$ 45,417
Cashflow Hedge
Derivative [Line Items]
Interest expense	$ 66,477	$ 46,389

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Schedule of Derivative Instruments (Details) - Cash Flow Hedging - Designated as Hedging Instrument - Interest Expense - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Amount of gain (loss) recognized in OCI on derivative	$ 7,802	$ 3,654
Amount of (income) loss reclassified from AOCI into income	(11,149)	(11,860)
Interest Rate Swap
Derivative [Line Items]
Amount of gain (loss) recognized in OCI on derivative	7,651	3,496
Amount of (income) loss reclassified from AOCI into income	(10,989)	(10,343)
Interest Rate Cap
Derivative [Line Items]
Amount of gain (loss) recognized in OCI on derivative	151	158
Amount of (income) loss reclassified from AOCI into income	$ (160)	$ (1,517)

Equity - Additional Information

Equity - Additional Information (Details)	1 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 $ / shares shares	Aug. 31, 2022 shares
Equity [Line Items]
Shares issued, net of forfeitures (in shares)		1,669,211	1,284,704	930,602
Number of shares authorized to be repurchased (in shares)						10,000,000
Average cost per share (in dollars per share) | $ / shares				$ 10.78
Remaining authorized repurchase amount (in shares)		6,874,241
Preferred shares outstanding (in shares)		1,935,400	1,935,400
Preferred shares, liquidation preference | $		$ 96,770,000	$ 96,770,000
Shares issued for units redeemed (in shares)			832,571	39,747
Partners' capital account, exchanges and conversions | $			$ 3,393,000	$ 211,000
Exchange ratio of partner units (in shares)			1.13
Variable Interest Entity, Primary Beneficiary | LCIF Partnership
Equity [Line Items]
Common shares issued (in shares)			822,627
Value of shares redeemed | $			$ 7,800,000
Common Stock
Equity [Line Items]
Repurchase of common shares (in shares)		0	0	12,102,074
Preferred shares - Series C
Equity [Line Items]
Preferred shares outstanding (in shares)		1,935,400
Dividend rate (usd per share) | $ / shares		$ 3.25
Preferred shares, liquidation preference | $		$ 96,770,000
Convertible preferred stock, conversion ratio		2.4339
Preferred stock conversion, threshold conversion price percentage (at least)		125%
Forward Contracts
Equity [Line Items]
Sale of stock, number of shares issued (in shares)				3,649,023
Sale of stock, net proceeds | $		$ 38,492,000
At-The-Market Offering
Equity [Line Items]
Sale of stock, authorized amount | $	$ 350,000,000			$ 350,000,000
Underwritten Offering
Equity [Line Items]
Sale of stock, number of shares issued (in shares)					16,000,000
Sale of stock (in dollars per share) | $ / shares					$ 12.11
Underwritten Offering | Forward Contracts
Equity [Line Items]
Sale of stock, net proceeds | $	$ 183,419,000

Equity - Schedule of Changes in

Equity - Schedule of Changes in AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Changes in Accumulated Other Comprehensive Income
Beginning balance	$ 2,265,457	$ 2,391,003
Ending balance	2,120,783	2,265,457
Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income
Beginning balance	9,483	17,689
Ending balance	6,136	9,483
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Changes in Accumulated Other Comprehensive Income
Other comprehensive income before reclassifications	7,802	3,654
Amounts of (income) reclassified from accumulated other comprehensive income to interest expense	$ (11,149)	$ (11,860)

Equity - Schedule of Effects of

Equity - Schedule of Effects of Changes in Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Net income attributable to LXP Industrial Trust shareholders	$ 44,534	$ 30,383	$ 113,783
Transfers from noncontrolling interests:
Increase in additional paid-in-capital for redemption of noncontrolling OP units	0	3,393	211
Change from net income attributable to shareholders and transfers from noncontrolling interests	$ 44,534	$ 33,776	$ 113,994

Benefit Plans - Non-Vested Shar

Benefit Plans - Non-Vested Share Activity (Details) - Non-vested Shares - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares outstanding, beginning (in shares)	2,539,473	2,058,890
Number of shares granted (in shares)	1,570,459	1,191,697
Number of shares vested (in shares)	(425,302)	(526,453)
Number of shares forfeited (in shares)	(459,230)	(184,661)
Number of shares outstanding, ending (in shares)	3,225,400	2,539,473
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Value per share outstanding, beginning (usd per share)	$ 8.45	$ 8.70
Value per share granted (usd per share)	7.33	7.97
Value per share vested (usd per share)	10.37	9.08
Value per share forfeited (usd per share)	6.66	6.34
Value per share outstanding, ending (usd per share)	$ 7.90	$ 8.45

Benefit Plans - Shares Granted

Benefit Plans - Shares Granted to Certain Employees and Trustees (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2021
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Measurement period (in years)	3 years
Number of shares vested (in shares)	119,519		565,652
Index Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	489,182	407,611
Value per share granted (usd per share)	$ 6.01	$ 6.96
Peer Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	489,177	407,606
Value per share granted (usd per share)	$ 5.68	$ 6.50
Non-vested Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	592,100	376,480
Grant date fair value (usd per share)	$ 5,794	$ 4,010
Vesting period (in years)	3 years

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares held in employee trust (in shares)	130,863	130,863
Initial vesting percentage	25%
Vesting percentage	100%
Vesting period (in years)	4 years
Cost recognized	$ 485	$ 499	$ 480
Allocated share-based compensation expense	$ 9,536	$ 8,210	$ 6,636
Non-Management Award Grant
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares issued for services (in shares)	98,752	93,007	69,937
Shares issued for services, value	$ 900	$ 939	$ 849
Non-vested Shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Non-options, nonvested, number (in shares)	3,225,400	2,539,473	2,058,890
Number of shares available for grant (in shares)	1,784,563
Compensation cost not yet recognized	$ 10,846
Total compensation cost not yet recognized, period for recognition (in years)	1 year 7 months 6 days
Shares Subject to Time
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Non-options, nonvested, number (in shares)	915,722
Shares Subject to Performance
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Non-options, nonvested, number (in shares)	2,309,628

Income Taxes - Components of In

Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 0	$ 0	$ 0
State and local	50	(774)	(1,120)
Deferred federal	77	71	18
Total	$ 127	$ (703)	$ (1,102)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Net deferred tax assets	$ 166	$ 89
Operating loss carryforwards	789	423
State and Local Jurisdiction
Income Taxes [Line Items]
State taxes paid	$ (50)	$ 774	$ 1,121

Income Taxes - Statutory Federa

Income Taxes - Statutory Federal Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal provision at statutory tax rate (21%)	$ 77	$ 71	$ 18
State and local taxes, net of federal benefit	0	0	0
Other	50	(774)	(1,120)
Total	$ 127	$ (703)	$ (1,102)
Effective income tax rate reconciliation, at federal statutory income tax rate (in percent)	21%	21%	21%

Income Taxes - Summary of Avera

Income Taxes - Summary of Average Taxable Nature of Dividends (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Total dividends per share, common (usd per share)	$ 0.52	$ 0.50	$ 0.48
Common Stock
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	100%	100%	100%
Common Stock | Ordinary income
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	55.65%	71.67%	81.26%
Common Stock | Qualifying dividend
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0%	0%	0%
Common Stock | Capital gain
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	41.58%	0%	0%
Common Stock | Return of capital
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	2.77%	28.33%	18.74%
Preferred shares - Series C
Income Tax Contingency [Line Items]
Total dividends per share, preferred (usd per share)	$ 3.25	$ 3.25	$ 3.25
Taxable percentage allocation on dividends	100%	100%	100%
Preferred shares - Series C | Ordinary income
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	57.23%	100%	100%
Preferred shares - Series C | Qualifying dividend
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0%	0%	0%
Preferred shares - Series C | Capital gain
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	42.77%	0%	0%
Preferred shares - Series C | Return of capital
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0%	0%	0%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Other Commitments [Line Items]
Real estate investment property, estimated cost in 2024	$ 29,750
Employee Severance
Other Commitments [Line Items]
Restructuring Reserve	$ 1,482

Supplemental Disclosure of St_3

Supplemental Disclosure of Statement of Cash Flow Information - Supplemental Disclosure of Statement of Cash Flow Information (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]
Cash and cash equivalents	$ 101,836	$ 199,247	$ 54,390	$ 190,926
Restricted cash	237	216	116	101
Cash, cash equivalents, and restricted cash	$ 102,073	$ 199,463	$ 54,506	$ 191,027

Supplemental Disclosure of St_4

Supplemental Disclosure of Statement of Cash Flow Information - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Significant Noncash Transactions [Line Items]
Interest paid	$ 66,699	$ 51,763	$ 48,675
Income taxes paid, net	274	951	1,265
Noncash increase to real estate investments under construction	14,683	21,052	$ 42,962
Carrying balance of investment	40,018	48,495
Change in control of a subsidiary	2,503
Palo Alto Office Property | Palo Alto, California
Other Significant Noncash Transactions [Line Items]
Real estate, cost derecognized		29,375
Real estate, accumulated depreciation and amortization derecognized		29,375
Etna Park 70 LLC
Other Significant Noncash Transactions [Line Items]
Carrying balance of investment	$ 9,732	$ 10,320
Co-venture equity ownership percentage	90%	90%
Gain on purchase of land recognized as a noncash decrease to land basis acquired		$ 1,392
Lombard Street Lots, LLC
Other Significant Noncash Transactions [Line Items]
Noncash changes to real estate, at cost	$ 4,605
Carrying balance of investment	2,309	0
Change in control of a subsidiary	$ 2,503
Co-venture equity ownership percentage	44.10%
Fair value of investment	$ 2,311
Variable Interest Entity, Primary Beneficiary | LCIF Partnership
Other Significant Noncash Transactions [Line Items]
Value of shares redeemed		$ 7,800

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	2 Months Ended
	Feb. 15, 2025 USD ($)
Subsequent Event | Unsecured Term Loan, Expiring January 2025 | Unsecured Term Loan
Subsequent Event [Line Items]
Repayments of Long-Term Debt	$ 50,000

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation and Amortization - Schedule III (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate and Accumulated Depreciation [Line Items]
Land and Land Estates	$ 399,685
Buildings and Improvements	3,765,387
Total	4,176,294	$ 3,774,239	$ 3,691,066	$ 3,583,978
Accumulated depreciation and amortization	837,994	$ 713,377	$ 627,027	$ 504,699
Deferred loan costs, net	585
Encumbrances, net of deferred loan costs	$ 54,930
Building and improvements
Real Estate and Accumulated Depreciation [Line Items]
Useful life computing depreciation in latest income statement (years)	40 years
Land estates
Real Estate and Accumulated Depreciation [Line Items]
Useful life computing depreciation in latest income statement (years)	51 years
Industrial Property | Chandler, AZ | Chandler, AZ, Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land and Land Estates	10,733
Buildings and Improvements	69,759
Total	80,492
Accumulated depreciation and amortization	13,480
Industrial Property | Goodyear, AZ | Goodyear, AZ Industrial Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,247
Buildings and Improvements	36,115
Total	41,362
Accumulated depreciation and amortization	10,038
Industrial Property | Goodyear, AZ | Goodyear, AZ Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	39,418
Land and Land Estates	11,970
Buildings and Improvements	50,072
Total	62,042
Accumulated depreciation and amortization	11,376
Industrial Property | Goodyear, AZ | Goodyear, AZ Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,614
Buildings and Improvements	16,222
Total	17,836
Accumulated depreciation and amortization	3,291
Industrial Property | Goodyear, AZ | Goodyear, AZ Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	7,552
Buildings and Improvements	29,621
Total	37,173
Accumulated depreciation and amortization	2,869
Industrial Property | Goodyear, AZ | Goodyear, AZ Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	11,732
Buildings and Improvements	52,840
Total	64,572
Accumulated depreciation and amortization	6,823
Industrial Property | Goodyear, AZ | Goodyear, AZ, Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	9,448
Buildings and Improvements	43,026
Total	52,474
Accumulated depreciation and amortization	2,753
Industrial Property | Phoenix, AZ | Phoenix, AZ Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	8,027
Buildings and Improvements	78,258
Total	86,285
Accumulated depreciation and amortization	11,409
Industrial Property | Phoenix, AZ | Phoenix, AZ Industrial Acquired 2022
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,366
Buildings and Improvements	49,199
Total	54,565
Accumulated depreciation and amortization	5,644
Industrial Property | Tolleson, AZ | Tolleson, AZ Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,311
Buildings and Improvements	16,013
Total	19,324
Accumulated depreciation and amortization	3,707
Industrial Property | Lakeland, FL | Lakeland, FL Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,416
Buildings and Improvements	21,013
Total	22,429
Accumulated depreciation and amortization	3,550
Industrial Property | Ocala, FL | Ocala, FL, Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,113
Buildings and Improvements	50,034
Total	54,147
Accumulated depreciation and amortization	9,871
Industrial Property | Ocala, FL | Ocala, FL, Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	11,376
Buildings and Improvements	70,173
Total	81,549
Accumulated depreciation and amortization	2,573
Industrial Property | Orlando, FL | Orlando, FL, Industrial Acquired 2006
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,278
Buildings and Improvements	13,782
Total	19,060
Accumulated depreciation and amortization	5,156
Industrial Property | Plant City, FL | Plant City, FL Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,610
Buildings and Improvements	48,884
Total	51,494
Accumulated depreciation and amortization	7,864
Industrial Property | Ruskin, FL | Ruskin, FL, Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,493
Buildings and Improvements	14,483
Total	18,976
Accumulated depreciation and amortization	290
Industrial Property | Ruskin, FL | Ruskin, FL, Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,713
Buildings and Improvements	15,801
Total	20,514
Accumulated depreciation and amortization	419
Industrial Property | Tampa, FL | Tampa, FL, Industrial Acquired 1988
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,160
Buildings and Improvements	11,109
Total	13,269
Accumulated depreciation and amortization	8,913
Industrial Property | Adairsville, GA | Adairsville, GA Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,465
Buildings and Improvements	23,950
Total	25,415
Accumulated depreciation and amortization	3,325
Industrial Property | Adairsville, GA | Adairsville, GA, Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,728
Buildings and Improvements	41,181
Total	43,909
Accumulated depreciation and amortization	366
Industrial Property | Austell, GA | Austell, GA, Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,251
Buildings and Improvements	51,518
Total	54,769
Accumulated depreciation and amortization	18,204
Industrial Property | Cartersville, GA | Cartersville, GA Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,497
Buildings and Improvements	42,242
Total	44,739
Accumulated depreciation and amortization	5,704
Industrial Property | Cartersville, GA | Cartersville, GA Industrial Acquired 2021, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,006
Buildings and Improvements	33,279
Total	35,285
Accumulated depreciation and amortization	4,379
Industrial Property | Cartersville, GA | Cartersville, GA, Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,378
Buildings and Improvements	25,861
Total	28,239
Accumulated depreciation and amortization	228
Industrial Property | Fairburn, GA | Fairburn, GA, Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	7,209
Buildings and Improvements	44,269
Total	51,478
Accumulated depreciation and amortization	6,504
Industrial Property | McDonough, GA | McDonough, GA Industrial Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,441
Buildings and Improvements	52,790
Total	58,231
Accumulated depreciation and amortization	16,254
Industrial Property | McDonough, GA | McDonough, GA Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,253
Buildings and Improvements	32,203
Total	35,456
Accumulated depreciation and amortization	8,092
Industrial Property | Pooler, GA | Pooler, GA, Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,690
Buildings and Improvements	30,356
Total	32,046
Accumulated depreciation and amortization	6,330
Industrial Property | Rincon, GA | Rincon, GA, Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,775
Buildings and Improvements	34,357
Total	38,132
Accumulated depreciation and amortization	6,468
Industrial Property | Rincon, GA | Rincon, GA, Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,612
Buildings and Improvements	25,602
Total	31,214
Accumulated depreciation and amortization	183
Industrial Property | Savannah, GA | Savannah, GA, Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,560
Buildings and Improvements	25,812
Total	28,372
Accumulated depreciation and amortization	5,079
Industrial Property | Savannah, GA | Savannah, GA, Industrial Acquired 2020, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,070
Buildings and Improvements	7,458
Total	8,528
Accumulated depreciation and amortization	1,472
Industrial Property | Union City, GA | Union City, GA, Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,536
Buildings and Improvements	22,905
Total	25,441
Accumulated depreciation and amortization	5,547
Industrial Property | Edwardsville, IL | Edwardsville, IL Industrial Acquired 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,593
Buildings and Improvements	34,817
Total	39,410
Accumulated depreciation and amortization	11,642
Industrial Property | Edwardsville, IL | Edwardsville, IL Industrial Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,649
Buildings and Improvements	41,657
Total	45,306
Accumulated depreciation and amortization	12,140
Industrial Property | Rantoul, IL | Rantoul, IL, Industrial Property, Acquired 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,304
Buildings and Improvements	32,562
Total	33,866
Accumulated depreciation and amortization	9,841
Industrial Property | Rockford, IL | Rockford, IL Industrial Acquired 2006
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	371
Buildings and Improvements	4,624
Total	4,995
Accumulated depreciation and amortization	1,442
Industrial Property | Rockford, IL | Rockford, IL Industrial Acquired 2006, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	509
Buildings and Improvements	5,921
Total	6,430
Accumulated depreciation and amortization	2,705
Industrial Property | Greenfield, IN | Greenfield, IN Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,126
Buildings and Improvements	58,692
Total	63,818
Accumulated depreciation and amortization	2,162
Industrial Property | Lafayette, IN | Lafayette, IN, Industrial Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	662
Buildings and Improvements	15,814
Total	16,476
Accumulated depreciation and amortization	5,801
Industrial Property | Lebanon, IN | Lebanon, IN, Industrial Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,100
Buildings and Improvements	29,996
Total	32,096
Accumulated depreciation and amortization	9,720
Industrial Property | Whiteland, IN | Whiteland, IN Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	741
Buildings and Improvements	14,486
Total	15,227
Accumulated depreciation and amortization	2,041
Industrial Property | Whiteland, IN | Whiteland, IN Industrial Acquired 2021 Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,991
Buildings and Improvements	39,334
Total	41,325
Accumulated depreciation and amortization	5,708
Industrial Property | Whiteland, IN | Whiteland, IN Industrial Acquired 2021, Property 3
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	695
Buildings and Improvements	13,956
Total	14,651
Accumulated depreciation and amortization	1,964
Industrial Property | Whitestown, IN | Whitestown, IN Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,954
Buildings and Improvements	17,368
Total	19,322
Accumulated depreciation and amortization	4,416
Industrial Property | Whitestown, IN | Whitestown, IN Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,162
Buildings and Improvements	11,825
Total	12,987
Accumulated depreciation and amortization	2,028
Industrial Property | Whitestown, IN | Whitestown, IN Industrial Acquired 2021 Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,208
Buildings and Improvements	12,337
Total	13,545
Accumulated depreciation and amortization	2,078
Industrial Property | Whitestown, IN | Whitestown, IN Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	8,335
Buildings and Improvements	80,054
Total	88,389
Accumulated depreciation and amortization	11,086
Industrial Property | New Century, KS | New Century, KS, Industrial Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	0
Buildings and Improvements	15,115
Total	15,115
Accumulated depreciation and amortization	4,824
Industrial Property | Walton, KY | Walton, KY Industrial Acquired 2022
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,010
Buildings and Improvements	23,837
Total	25,847
Accumulated depreciation and amortization	3,205
Industrial Property | Walton, KY | Walton, KY Industrial Acquired 2022, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,197
Buildings and Improvements	41,043
Total	45,240
Accumulated depreciation and amortization	5,120
Industrial Property | Minneapolis, MN | Minneapolis, MN, Industrial Acquired 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,886
Buildings and Improvements	1,922
Total	3,808
Accumulated depreciation and amortization	736
Industrial Property | Byhalia, MS | Byhalia, MS Industrial Acquired 2011
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,006
Buildings and Improvements	35,795
Total	36,801
Accumulated depreciation and amortization	12,898
Industrial Property | Byhalia, MS | Byhalia, MS Industrial Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,751
Buildings and Improvements	31,452
Total	33,203
Accumulated depreciation and amortization	12,759
Industrial Property | Canton, MS | Canton, MS, Industrial Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,077
Buildings and Improvements	71,289
Total	76,366
Accumulated depreciation and amortization	32,839
Industrial Property | Olive Branch, MS | Olive Branch, MS Industrial Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,500
Buildings and Improvements	48,907
Total	51,407
Accumulated depreciation and amortization	13,142
Industrial Property | Olive Branch, MS | Olive Branch, MS Industrial Acquired 2018, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,958
Buildings and Improvements	38,702
Total	40,660
Accumulated depreciation and amortization	12,032
Industrial Property | Olive Branch, MS | Olive Branch, MS Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,646
Buildings and Improvements	40,446
Total	43,092
Accumulated depreciation and amortization	9,720
Industrial Property | Olive Branch, MS | Olive Branch, MS Industrial Acquired 2019, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	851
Buildings and Improvements	15,630
Total	16,481
Accumulated depreciation and amortization	3,698
Industrial Property | Shelby, NC | Shelby, NC, Industrial Acquired 2011
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,421
Buildings and Improvements	18,862
Total	20,283
Accumulated depreciation and amortization	8,799
Industrial Property | Statesville, NC | Statesville, NC Industrial Acquired 2006
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	891
Buildings and Improvements	22,056
Total	22,947
Accumulated depreciation and amortization	9,706
Industrial Property | Erwin, NY | Erwin, NY, Industrial Acquired 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,648
Buildings and Improvements	12,514
Total	14,162
Accumulated depreciation and amortization	5,892
Industrial Property | Long Island City, NY | Long Island City, NY, Industrial Acquired 2013
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	16,097
Land and Land Estates	0
Buildings and Improvements	42,759
Total	42,759
Accumulated depreciation and amortization	33,671
Industrial Property | Chillicothe, OH | Chillicothe, OH, Industrial Acquired 2011
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	735
Buildings and Improvements	12,464
Total	13,199
Accumulated depreciation and amortization	5,690
Industrial Property | Columbus, OH | Columbus, OH, Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,251
Buildings and Improvements	25,349
Total	27,600
Accumulated depreciation and amortization	3,737
Industrial Property | Etna, OH | Etna, OH Industrial, Acquired 2023
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	6,536
Buildings and Improvements	58,202
Total	64,738
Accumulated depreciation and amortization	2,770
Industrial Property | Etna, OH | Etna, OH, Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,113
Buildings and Improvements	20,766
Total	23,879
Accumulated depreciation and amortization	346
Industrial Property | Hebron, OH | Hebron, OH Industrial, Acquired 1997
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,803
Buildings and Improvements	15,128
Total	16,931
Accumulated depreciation and amortization	4,103
Industrial Property | Hebron, OH | Hebron, OH Industrial, Acquired 2001
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,052
Buildings and Improvements	14,332
Total	16,384
Accumulated depreciation and amortization	5,775
Industrial Property | Lockbourne, OH | Lockbourne, OH Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,800
Buildings and Improvements	16,678
Total	19,478
Accumulated depreciation and amortization	2,980
Industrial Property | Monroe, OH | Monroe, OH Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	544
Buildings and Improvements	14,120
Total	14,664
Accumulated depreciation and amortization	3,322
Industrial Property | Monroe, OH | Monroe, OH Industrial Acquired 2019, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,123
Buildings and Improvements	61,410
Total	64,533
Accumulated depreciation and amortization	14,465
Industrial Property | Monroe, OH | Monroe, OH Industrial Acquired 2019, Property 3
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,950
Buildings and Improvements	89,007
Total	92,957
Accumulated depreciation and amortization	20,275
Industrial Property | Monroe, OH | Monroe, OH Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,109
Buildings and Improvements	16,477
Total	17,586
Accumulated depreciation and amortization	2,574
Industrial Property | Streetsboro, OH | Streetsboro, OH Industrial Acquired 2007
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,441
Buildings and Improvements	25,351
Total	27,792
Accumulated depreciation and amortization	14,305
Industrial Property | Bristol, PA | Bristol, PA Industrial Acquired 1998
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,508
Buildings and Improvements	15,863
Total	18,371
Accumulated depreciation and amortization	11,009
Industrial Property | Duncan, SC | Duncan, SC Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,615
Buildings and Improvements	27,988
Total	29,603
Accumulated depreciation and amortization	6,978
Industrial Property | Duncan, SC | Duncan, SC Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,406
Buildings and Improvements	14,282
Total	15,688
Accumulated depreciation and amortization	3,262
Industrial Property | Duncan, SC | Duncan, SC Industrial Acquired 2019, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,257
Buildings and Improvements	13,439
Total	14,696
Accumulated depreciation and amortization	3,064
Industrial Property | Duncan, SC | Duncan, SC Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,819
Buildings and Improvements	24,509
Total	27,328
Accumulated depreciation and amortization	3,704
Industrial Property | Duncan, SC | Duncan, SC Industrial Acquired 2021, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,169
Buildings and Improvements	23,206
Total	24,375
Accumulated depreciation and amortization	3,457
Industrial Property | Duncan, SC | Duncan, SC Industrial Acquired 2021, Property 3
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,016
Buildings and Improvements	18,479
Total	19,495
Accumulated depreciation and amortization	2,705
Industrial Property | Duncan, SC | Duncan, SC Industrial Acquired 2021, Property 4
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,705
Buildings and Improvements	27,817
Total	29,522
Accumulated depreciation and amortization	4,159
Industrial Property | Greer, SC | Greer, SC Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	6,959
Buildings and Improvements	79,460
Total	86,419
Accumulated depreciation and amortization	16,706
Industrial Property | Greer, SC | Greer, SC Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,329
Buildings and Improvements	22,393
Total	23,722
Accumulated depreciation and amortization	3,357
Industrial Property | Greer, SC | Greer, SC Industrial Acquired 2021, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,376
Buildings and Improvements	32,203
Total	34,579
Accumulated depreciation and amortization	4,825
Industrial Property | Greer, SC | Greer, SC Industrial Property Acquired 2022
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,484
Buildings and Improvements	62,479
Total	64,963
Accumulated depreciation and amortization	6,264
Industrial Property | Greer, SC | Greer, SC, Industrial Property, Acquired 2023
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,795
Buildings and Improvements	22,159
Total	23,954
Accumulated depreciation and amortization	1,213
Industrial Property | Greer, SC | Greer, SC Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	6,765
Buildings and Improvements	66,649
Total	73,414
Accumulated depreciation and amortization	2,000
Industrial Property | Piedmont, SC | Piedmont, SC Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,163
Buildings and Improvements	63,161
Total	66,324
Accumulated depreciation and amortization	0
Industrial Property | Spartanburg, SC | Spartanburg, SC Industrial Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,447
Buildings and Improvements	24,959
Total	26,406
Accumulated depreciation and amortization	7,470
Industrial Property | Spartanburg, SC | Spartanburg, SC Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,186
Buildings and Improvements	15,820
Total	17,006
Accumulated depreciation and amortization	2,787
Industrial Property | Antioch, TN | Antioch, TN, Industrial Acquired 2007
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,847
Buildings and Improvements	17,808
Total	21,655
Accumulated depreciation and amortization	7,408
Industrial Property | Cleveland, TN | Cleveland, TN, Industrial Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,871
Buildings and Improvements	29,743
Total	31,614
Accumulated depreciation and amortization	9,950
Industrial Property | Jackson, TN | Jackson, TN, Industrial Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,454
Buildings and Improvements	49,134
Total	50,588
Accumulated depreciation and amortization	15,258
Industrial Property | Lewisburg, TN | Lewisburg, TN, Industrial Acquired 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	173
Buildings and Improvements	10,865
Total	11,038
Accumulated depreciation and amortization	3,619
Industrial Property | Millington, TN | Millington, TN, Industrial Acquired 2005
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	723
Buildings and Improvements	24,317
Total	25,040
Accumulated depreciation and amortization	16,511
Industrial Property | Smyrna, TN | Smyrna, TN, Industrial Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,793
Buildings and Improvements	93,940
Total	95,733
Accumulated depreciation and amortization	29,892
Industrial Property | Carrollton, TX | Carrollton, TX, Industrial Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,228
Buildings and Improvements	16,234
Total	19,462
Accumulated depreciation and amortization	6,101
Industrial Property | Dallas, TX | Dallas, TX, Industrial Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,420
Buildings and Improvements	24,201
Total	26,621
Accumulated depreciation and amortization	5,737
Industrial Property | Deer Park, TX | Deer Park, TX, Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	6,489
Buildings and Improvements	28,470
Total	34,959
Accumulated depreciation and amortization	4,553
Industrial Property | Grand Prairie, TX | Grand Prairie, TX, Industrial Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,166
Buildings and Improvements	17,985
Total	21,151
Accumulated depreciation and amortization	5,849
Industrial Property | Houston, TX | Houston, TX Industrial Acquired 2013
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	15,055
Buildings and Improvements	57,949
Total	73,004
Accumulated depreciation and amortization	21,184
Industrial Property | Hutchins, TX | Hutchins, TX, Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,307
Buildings and Improvements	8,472
Total	9,779
Accumulated depreciation and amortization	1,729
Industrial Property | Lancaster, TX | Lancaster, TX, Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,847
Buildings and Improvements	25,037
Total	28,884
Accumulated depreciation and amortization	4,390
Industrial Property | Lancaster, TX | Lancaster, TX, Industrial Acquired 2023,
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,100
Buildings and Improvements	14,381
Total	16,481
Accumulated depreciation and amortization	963
Industrial Property | Missouri City, TX | Missouri City, TX, Industrial Acquired, 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	14,555
Buildings and Improvements	5,895
Total	20,450
Accumulated depreciation and amortization	5,895
Industrial Property | Northlake, TX | Northlake, TX Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,500
Buildings and Improvements	71,636
Total	76,136
Accumulated depreciation and amortization	14,801
Industrial Property | Northlake, TX | Northlake, TX Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,938
Buildings and Improvements	37,189
Total	41,127
Accumulated depreciation and amortization	6,793
Industrial Property | Pasadena, TX | Pasadena, TX Industrial Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,057
Buildings and Improvements	17,810
Total	21,867
Accumulated depreciation and amortization	5,102
Industrial Property | Pasadena, TX | Pasadena, TX Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,202
Buildings and Improvements	17,135
Total	19,337
Accumulated depreciation and amortization	3,323
Industrial Property | Pasadena, TX | Pasadena, TX Industrial Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,272
Buildings and Improvements	22,295
Total	26,567
Accumulated depreciation and amortization	3,529
Industrial Property | Pasadena, TX | Pasadena, TX Industrial Acquired 2021, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,792
Buildings and Improvements	9,089
Total	10,881
Accumulated depreciation and amortization	1,425
Industrial Property | Pasadena, TX | Pasadena, TX, Industrial Acquired 2024
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	6,084
Buildings and Improvements	28,526
Total	34,610
Accumulated depreciation and amortization	237
Industrial Property | San Antonio, TX | San Antonio, TX, Industrial Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,311
Buildings and Improvements	36,644
Total	37,955
Accumulated depreciation and amortization	11,821
Industrial Property | Chester, VA | Chester, VA, Industrial Acquired, 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	8,544
Buildings and Improvements	53,067
Total	61,611
Accumulated depreciation and amortization	16,080
Industrial Property | Winchester, VA | Winchester, VA Industrial Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,988
Buildings and Improvements	32,536
Total	34,524
Accumulated depreciation and amortization	9,743
Industrial Property | Winchester, VA | Winchester, VA Industrial Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,818
Buildings and Improvements	24,422
Total	27,240
Accumulated depreciation and amortization	4,637
Industrial Property | Winchester, VA | Winchester, VA Industrial Acquired 2007
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,823
Buildings and Improvements	12,498
Total	16,321
Accumulated depreciation and amortization	6,186
Construction in progress
Real Estate and Accumulated Depreciation [Line Items]
Total	$ 11,222

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation and Amortization - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Total cost basis for federal income tax purposes	$ 4,400,000
Reconciliation of real estate owned:
Balance at the beginning of year	3,774,239	$ 3,691,066	$ 3,583,978
Additions during year	564,602	164,489	229,962
Properties sold and impaired during the year	(170,467)	(174,466)	(161,393)
Other reclassifications	7,920	93,150	38,519
Balance at end of year	4,176,294	3,774,239	3,691,066
Reconciliation of accumulated depreciation and amortization:
Balance at the beginning of year	713,377	627,027	504,699
Depreciation and amortization expense	159,997	147,617	144,163
Accumulated depreciation and amortization of properties sold and impaired during year	(34,807)	(100,474)	(43,521)
Other reclassifications	(573)	39,207	21,686
Balance at end of year	$ 837,994	$ 713,377	$ 627,027