EX-99.1 2 y65251exv99w1.htm EX-99.1: SUPPLEMENTAL REPORTING PACKAGE EX-99.1
Exhibit 99.1
(COMPANY LOGO)
Quarterly Earnings and
Supplemental Operating and Financial Data
For the Three and Six Months Ended June 30, 2008
(COMPANY LOGO)

 


 

LEXINGTON REALTY TRUST
SUPPLEMENTAL REPORTING PACKAGE
For the Three and Six Months Ended June 30, 2008
Table of Contents
         
Section   Page  
Second Quarter 2008 Earnings Press Release
    3  
 
       
Portfolio Data
       
Major Markets
    10  
Tenant Industry Diversification
    11  
Other Revenue Data
    12  
Top 10 Tenants or Guarantors
    13  
Property Leases and Vacancies – Consolidated Portfolio
    14  
Property Leases and Vacancies – Net Lease Strategic Asset Fund
    23  
2Q ’08 Disposition Summary
    25  
2Q ’08 Dispositions to Net Lease Strategic Asset Fund
    26  
2Q ’08 Leasing Summary
    27  
Lease Rollover Schedule – Cash Basis
    29  
Lease Rollover Schedule – GAAP Basis
    30  
 
       
Financial Data
       
 
       
Joint Venture Investments – Proportionate Share
    31  
Selected Balance Sheet Account Detail
    32  
Mortgages and Notes Payable
    33  
Base Rent Estimates from Current Assets
    41  
 
       
Investor Information
    42  
This Quarterly Earnings and Supplemental Operating and Financial Data contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the control of Lexington Realty Trust (“Lexington”) which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington’s periodic reports filed with the Securities and Exchange Commission (the “SEC”) filed with the SEC, including risks related to, (i) the failure to continue to qualify as a real estate investment trust, (ii) changes in general business and economic conditions, (iii) competition, (iv) increases in real estate construction costs, (v) changes in interest rates, or (vi) changes in accessibility of debt and equity capital markets. Copies of periodic reports Lexington files with the SEC are available on Lexington’s website at www.lxp.com and may be obtained free of charge by calling Lexington at 212-692-7200. Forward-looking statements, which are based on certain assumptions and describe the Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects” or similar expressions. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.

 


 

     
 
  Lexington Realty Trust
 
  TRADED: NYSE: LXP
 
  One Penn Plaza, Suite 4015
 
  New York NY 10119-4015
Contact:
Investor or Media Inquiries, T. Wilson Eglin, CEO
Lexington Realty Trust
Phone: (212) 692-7200 E-mail: tweglin@lxp.com
FOR IMMEDIATE RELEASE
Thursday, August 7th, 2008
LEXINGTON REALTY TRUST REPORTS SECOND QUARTER 2008 RESULTS
New York, NY – August 7, 2008 – Lexington Realty Trust (“Lexington”) (NYSE:LXP), a real estate investment trust focused on single-tenant real estate investments, today announced results for the second quarter ended June 30, 2008.
Second Quarter 2008 Highlights
    Increased total gross revenues by 18.9% to $128.7 million.
 
    Generated Company Funds From Operations (“Company FFO”) of $77.7 million or $0.73 per diluted share/unit.(1)
 
    Executed 37 new and renewal leases, totaling approximately 1.5 million square feet.
 
    Sold 5 properties for $46.1 million at a 7.4% cap rate.
 
    Repurchased $121.0 million face amount of senior securities at a 28.8% discount.
 
    Received $28.7 million in lease termination payments from two tenants.
 
(1)   See the last page of this press release for a reconciliation of GAAP net income to Company FFO.
T. Wilson Eglin, President and Chief Executive Officer of Lexington stated, “We are pleased with our accomplishments in the second quarter, especially in the leasing area where we executed 37 leases totaling 1.5 million square feet. In addition, we continued to strengthen our balance sheet as we reduced debt by $112.5 million through the repayment of mortgages and repurchase of senior securities at a substantial discount. Sales activity was $46.1 million at an average cap rate of 7.4% — highly satisfactory in an environment where cap rates have increased significantly. Accordingly, the acquisition market has become attractive to buyers, and we look forward to selectively growing our portfolio and leveraging our investment capital through joint ventures.”
FINANCIAL RESULTS
Revenues
For the quarter ended June 30, 2008, total gross revenues increased 18.9% to $128.7 million, compared with total gross revenues of $108.2 million for the quarter ended June 30, 2007. The increase is primarily due to the acquisition of certain assets from our co-investment programs in the second quarter of 2007 and $28.7 million of lease termination payments received, partially offset by $4.1 million in accelerated amortization of above and below market leases, in the second quarter of 2008.
Net Income (Loss) Allocable to Common Shareholders
For the quarter ended June 30, 2008, net loss allocable to common shareholders was ($3.8) million, or a loss of ($0.04) per diluted share, compared with net income allocable to common shareholders for the quarter ended June 30, 2007 of $21.9 million, or income of $0.34 per diluted share.
Page 3 of 42

 


 

Company FFO Applicable to Common Shareholders/Unitholders
For the quarter ended June 30, 2008, Company FFO was $77.7 million, or $0.73 per diluted share/unit, compared with Company FFO for the quarter ended June 30, 2007 of $59.9 million, or $0.54 per diluted share/unit. Company FFO for the quarter ended June 30, 2008 was impacted by several unusual items, including the impact of lease terminations and the accelerated amortization of above and below market leases ($34.9 million) as well as debt satisfaction gains ($28.0 million), including Lexington’s proportionate share through joint ventures, offset by impairment charges recorded at certain of Lexington’s joint ventures ($27.3 million). For the quarter ended June 30, 2007, Company FFO was impacted by the recognition of incentive fees and lease termination payments ($13.6 million), severance costs ($4.5 million) and merger costs ($0.8 million).
Balance Sheet
Lexington’s balance sheet continues to provide liquidity to deploy as investment opportunities become available. At June 30, 2008, Lexington had approximately $177.3 million of cash and restricted cash and $2.5 billion in debt outstanding, equating to a debt-to-total capitalization of approximately 58.8%. As of June 30, 2008, the weighted average interest rate on Lexington’s debt was 5.65% with a weighted average maturity of 6.5 years. Approximately 92% of Lexington’s debt is subject to fixed interest rates.
Common Share Dividend/Distribution
On June 13, 2008, Lexington’s Board of Trustees declared a regular quarterly cash dividend/distribution of $0.33 per share/unit, which was paid on July 15, 2008, to common shareholders/unitholders of record as of June 30, 2008, and which equated to an annualized dividend of $1.32 per share.
OPERATING ACTIVITIES
Dispositions
During the quarter ended June 30, 2008, Lexington sold its interest in five properties to third parties for an aggregate sales price of $46.1 million, which generated gains on sale of $3.9 million.
Leasing Activity
At June 30, 2008, Lexington’s consolidated portfolio was approximately 94.1% leased. For the quarter ended June 30, 2008, Lexington executed 37 leases (new and renewal) for approximately 1.5 million square feet. During the quarter, Lexington received an aggregate of $28.7 million in lease termination payments from two tenants.
2008 EARNINGS GUIDANCE
Lexington reaffirmed its previously disclosed Company FFO guidance range of $1.56 to $1.64 per diluted share/unit for the year ended December 31, 2008. This guidance excludes the impact of the 100 Light Street lease termination transaction and other non-recurring items. This guidance is based on current expectations and is forward-looking.
Page 4 of 42

 


 

2ND QUARTER 2008 CONFERENCE CALL
Lexington will host a conference call today, Thursday, August 7, 2008, at 11:00 a.m. Eastern Time, to discuss its results for the quarter ended June 30, 2008. Interested parties may participate in this conference call by dialing (877) 407-0778 or (201) 689-8565. A replay of the call will be available through September 7, 2008, at (877) 660-6853, Account #: 286, Conference ID #: 289670.
A live web cast of the conference call will be available at www.lxp.com within the Investor Relations section. An online replay will also be available through August 7, 2009.
ABOUT LEXINGTON REALTY TRUST
Lexington Realty Trust is a real estate investment trust that owns, invests in, and manages office, industrial and retail properties net-leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the net lease area. Lexington shares are traded on the New York Stock Exchange under the symbol “LXP”. Additional information about Lexington is available on-line at www.lxp.com or by contacting Lexington Realty Trust, One Penn Plaza, Suite 4015, New York, New York 10119-4015, Attention: Investor Relations.
This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington’s control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (“ SEC”) on February 29, 2008 and other periodic reports filed with the SEC, including risks related to: (1) the failure to continue to qualify as a real estate investment trust, (2) changes in general business and economic conditions, (3) competition, (4) increases in real estate construction costs, (5) changes in interest rates, or (6) changes in accessibility of debt and equity capital markets. Copies of the periodic reports Lexington files with the SEC are available on Lexington’s website at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe the Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects”, “is optimistic” or similar expressions. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.
Page 5 of 42

 


 

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three and Six Months ended June 30, 2008 and 2007
(Unaudited and in thousands, except share and per share data)
                                 
    Three months ended     Six months ended  
    June 30,     June 30,  
    2008     2007     2008     2007  
Gross Revenues:
                               
Rental
  $ 118,100     $ 90,345     $ 215,105     $ 164,719  
Advisory and incentive fees
    365       11,224       676       11,943  
Tenant reimbursements
    10,209       6,617       20,251       12,057  
 
                       
Total gross revenues
    128,674       108,186       236,032       188,719  
 
                               
Expense applicable to revenues:
                               
Depreciation and amortization
    (85,173 )     (54,006 )     (141,370 )     (101,968 )
Property operating
    (20,045 )     (13,527 )     (39,505 )     (24,693 )
General and administrative
    (7,310 )     (12,339 )     (18,377 )     (21,156 )
Non-operating income
    18,694       2,383       20,799       4,869  
Interest and amortization expense
    (39,921 )     (36,668 )     (83,277 )     (66,741 )
Debt satisfaction gains, net
    27,005             36,711        
Gains on sale-affiliates
    8,637             31,806        
 
                       
 
                               
Income (loss) before provision for income taxes, minority interests, equity in earnings (losses) of non-consolidated entities and discontinued operations
    30,561       (5,971 )     42,819       (20,970 )
Provision for income taxes
    (721 )     (1,667 )     (2,055 )     (2,193 )
Minority interests share of (income) loss
    10,967       (16,619 )     2,587       (6,748 )
Equity in earnings (losses) of non-consolidated entities
    (27,194 )     38,386       (21,647 )     41,890  
 
                       
Income from continuing operations
    13,613       14,129       21,704       11,979  
 
                       
 
                               
Discontinued operations:
                               
Income from discontinued operations
    378       10,622       2,202       18,190  
Provision for income taxes
    (45 )     (2,646 )     (69 )     (2,663 )
Debt satisfaction charges
    (313 )     (89 )     (313 )     (89 )
Gains on sales of properties
    3,925       12,828       4,612       12,828  
Impairment charge
                (2,694 )      
Minority interests share of income
    (1,833 )     (5,905 )     (1,905 )     (9,091 )
 
                       
Total discontinued operations
    2,112       14,810       1,833       19,175  
 
                       
Net income
    15,725       28,939       23,537       31,154  
Dividends attributable to preferred shares- Series B
    (1,590 )     (1,590 )     (3,180 )     (3,180 )
Dividends attributable to preferred shares- Series C
    (2,111 )     (2,519 )     (4,630 )     (5,038 )
Dividends attributable to preferred shares- Series D
    (2,925 )     (2,925 )     (5,851 )     (4,447 )
Redemption discount – Series C
    5,678             5,678        
 
                       
Net income allocable to common shareholders
  $ 14,777     $ 21,905     $ 15,554     $ 18,489  
 
                       
 
                               
Income per common share-basic:
                               
Income (loss) from continuing operations, after preferred dividends
  $ 0.21     $ 0.11     $ 0.23     $ (0.01 )
Income from discontinued operations
    0.04       0.23       0.03       0.29  
 
                       
Net income allocable to common shareholders
  $ 0.25     $ 0.34     $ 0.26     $ 0.28  
 
                       
 
                               
Weighted average common shares outstanding — basic
    60,163,396       65,265,217       59,994,988       66,892,769  
 
                       
 
                               
Income (loss) per common share-diluted:
                               
Income (loss) from continuing operations, after preferred dividends
  $ (0.08 )   $ 0.11     $ 0.02     $ (0.01 )
Income from discontinued operations
    0.04       0.23       0.03       0.29  
 
                       
Net income (loss) allocable to common shareholders
  $ (0.04 )   $ 0.34     $ 0.05     $ 0.28  
 
                       
 
                               
Weighted average common shares outstanding-diluted
    100,554,903       65,265,828       100,567,119       66,892,769  
 
                       
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LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
CONDENSED BALANCE SHEETS
June 30, 2008 and December 31, 2007
( Unaudited and in thousands, except share and per share data)
                 
    June 30,     December 31,  
    2008     2007  
Assets:
               
Real estate, at cost
  $ 3,805,177     $ 4,095,278  
Less: accumulated depreciation and amortization
    413,878       379,831  
 
           
 
    3,391,299       3,715,447  
Properties held for sale-discontinued operations
    4,558       150,907  
Intangible assets, net
    396,495       516,698  
Cash and cash equivalents
    157,849       412,106  
Restricted cash
    19,468       4,185  
Investment in and advances to non-consolidated entities
    227,466       226,476  
Deferred expenses, net
    37,448       42,040  
Notes receivable
    68,754       69,775  
Rent receivable-current
    21,347       25,289  
Rent receivable- deferred
    16,818       15,303  
Other assets
    69,349       86,937  
 
           
 
  $ 4,410,851     $ 5,265,163  
 
           
Liabilities and Shareholders’ Equity:
               
Liabilities:
               
Mortgage and notes payable
  $ 2,075,404     $ 2,312,422  
Exchangeable notes payable
    325,000       450,000  
Trust preferred securities
    129,120       200,000  
Contract rights payable
    14,094       13,444  
Dividends payable
    27,929       158,168  
Liabilities-discontinued operations
    7,132       119,093  
Accounts payable and other liabilities
    42,340       49,442  
Accrued interest payable
    18,011       23,507  
Deferred revenue-below market leases, net
    170,533       217,389  
Prepaid rent
    17,857       16,764  
 
           
 
    2,827,420       3,560,229  
Minority interests
    642,774       765,863  
 
           
 
    3,470,194       4,326,092  
 
           
Commitments and contingencies
               
 
               
Shareholders’ equity
               
Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares,
               
Series B Cumulative Redeemable Preferred, liquidation preference $79,000, 3,160,000 shares issued and outstanding
    76,315       76,315  
Series C Cumulative Convertible Preferred, liquidation preference $129,915 and $155,000, respectively, and 2,598,300 and 3,100,000 shares issued and outstanding in 2008 and 2007, respectively
    126,217       150,589  
Series D Cumulative Redeemable Preferred, liquidation preference $155,000, 6,200,000 shares issued and outstanding
    149,774       149,774  
Special Voting Preferred Share, par value $0.0001 per share; 1 share authorized, issued and outstanding
           
Common shares, par value $0.0001 per share; authorized 400,000,000 shares, 64,552,304 and 61,064,334 shares issued and outstanding in 2008 and 2007, respectively
    6       6  
Additional paid-in-capital
    1,080,697       1,033,332  
Accumulated distributions in excess of net income
    (493,779 )     (468,167 )
Accumulated other comprehensive income (loss)
    1,427       (2,778 )
 
           
Total shareholders’ equity
    940,657       939,071  
 
           
 
  $ 4,410,851     $ 5,265,163  
 
           

Page 7 of 42


 

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
EARNINGS PER SHARE AND COMPANY FUNDS FROM OPERATIONS PER SHARE
(Unaudited and in thousands, except share and per share data)
                                 
    Three Months ended     Six Months ended  
    June 30,     June 30,  
    2008     2007     2008     2007  
EARNINGS PER SHARE:
                               
Basic:
                               
Income from continuing operations
  $ 13,613     $ 14,129     $ 21,704     $ 11,979  
Less preferred dividends
    (948 )     (7,034 )     (7,983 )     (12,665 )
 
                       
Income (loss) allocable to common shareholders from continuing operations
    12,665       7,095       13,721       (686 )
Total income from discontinued operations
    2,112       14,810       1,833       19,175  
 
                       
Net income allocable to common shareholders
  $ 14,777     $ 21,905     $ 15,554     $ 18,489  
 
                       
 
                               
Weighted average number of common shares outstanding
    60,163,396       65,265,217       59,994,988       66,892,769  
 
                       
 
                               
Income (loss) per common share-basic:
                               
Income (loss) from continuing operations
  $ 0.21     $ 0.11     $ 0.23     $ (0.01 )
Income from continuing operations
    0.04       0.23       0.03       0.29  
 
                       
Net income
  $ 0.25     $ 0.34     $ 0.26     $ 0.28  
 
                       
 
                               
Diluted:
                               
Income allocable to common shareholders from continuing operations- basic
  $ 12,665     $ 7,095     $ 13,721     $ (686 )
Incremental loss attributed to assumed conversion of dilutive securities
    (20,450 )           (11,775 )      
 
                       
Income (loss) allocable to common shareholders from continuing operations
    (7,785 )     7,095       1,946       (686 )
Total income from discontinued operations
    3,970       14,810       2,957       19,175  
 
                       
Net income (loss) allocable to common shareholders
  $ (3,815 )   $ 21,905     $ 4,903     $ 18,489  
 
                       
 
                               
Weighted average number of common shares used in calculation of basic earnings per share
    60,163,396       65,265,217       59,994,988       66,892,769  
Add incremental shares representing:
                               
Shares issuable upon exercise of employee share options/non-vested shares
          611       10,373        
Shares issuable upon conversion of dilutive securities
    40,391,507             40,561,758        
 
                       
Weighted average number of shares used in calculation of diluted earnings per share
    100,554,903       65,265,828       100,567,119       66,892,769  
 
                       
 
                               
Income (loss) per common share-diluted:
                               
Income (loss) from continuing operations
  $ (0.08 )   $ 0.11     $ 0.02     $ (0.01 )
Income from discontinued operations
    0.04       0.23       0.03       0.29  
 
                       
Net income (loss)
  $ (0.04 )   $ 0.34     $ 0.05     $ 0.28  
 
                       
Page 8 of 42

 


 

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
EARNINGS PER SHARE AND COMPANY FUNDS FROM OPERATIONS PER SHARE (Continued)
(Unaudited and in thousands, except share and per share data)
                                 
    Three Months ended     Six Months ended  
    June 30,     June 30,  
    2008     2007     2008     2007  
COMPANY FUNDS FROM OPERATIONS: (1)
                               
Basic and Diluted:
                               
Net income allocable to common shareholders-basic
  $ 14,777     $ 21,905     $ 15,554     $ 18,489  
Adjustments:
                               
Depreciation and amortization
    84,785       58,153       140,741       112,785  
Minority interests- OP units
    (12,913 )     21,334       (5,379 )     13,915  
Amortization of leasing commissions
    420       283       1,012       536  
Joint venture adjustment-depreciation
    6,733       932       7,438       3,046  
Preferred dividends- Series C
    (3,567 )     2,519       (1,048 )     5,038  
Gains on sale of properties
    (12,562 )     (12,828 )     (36,418 )     (12,828 )
Taxes and minority interest on sale of property
          1,749       84       1,749  
Gains on sale of joint venture properties
          (34,164 )           (34,164 )
 
                       
Company FFO
  $ 77,673     $ 59,883     $ 121,984     $ 108,566  
 
                       
 
                               
Basic:
                               
Weighted average shares outstanding-basic EPS
    60,163,396       65,265,217       59,994,988       66,892,769  
Operating partnership units
    39,519,599       40,133,160       39,581,887       40,339,893  
Preferred Shares- Series C
    6,398,965       5,779,330       6,560,348       5,779,330  
 
                       
Weighted average shares outstanding-basic Company FFO
    106,081,960       111,177,707       106,137,223       113,011,992  
 
                       
Company FFO per share
  $ 0.73     $ 0.54     $ 1.15     $ 0.96  
 
                       
 
                               
Diluted:
                               
Weighted average shares outstanding — diluted EPS
    100,554,903       65,265,828       100,567,119       66,892,769  
Employee share options/non-vested shares
    10,197                   621  
Operating partnership units
          40,133,160             40,339,893  
Preferred Shares- Series C
    5,527,057       5,779,330       5,580,477       5,779,330  
 
                       
Weighted average shares outstanding — diluted Company FFO
    106,092,157       111,178,318       106,147,596       113,012,613  
 
                       
Company FFO per share
  $ 0.73     $ 0.54     $ 1.15     $ 0.96  
 
                       
 
1     Lexington believes that Funds from Operations (“FFO”) is a widely recognized and appropriate measure of the performance of an equity REIT. Lexington presents FFO because it considers FFO an important supplemental measure of Lexington’s operating performance. Lexington believes FFO is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. FFO is intended to exclude generally accepted accounting principles (“GAAP”), historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. As a result, FFO provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities, interest costs and other matters without the inclusion of depreciation and amortization, providing perspective that may not necessarily be apparent from net income.
 
Lexington computes FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”). FFO is defined by NAREIT as “net income (or loss) computed in accordance with GAAP, excluding gains (or losses) from sales of property, plus real estate depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures.” FFO does not represent cash generated from operating activities in accordance with GAAP and is not indicative of cash available to fund cash needs. FFO should not be considered as an alternative to net income as an indicator of our operating performance or as an alternative to cash flow as a measure of liquidity.
 
Lexington includes in its calculation of FFO, which Lexington refers to as the “Company’s funds from operations” or “Company FFO,” Lexington’s operating partnership units and Lexington’s Series C Cumulative Convertible Preferred Shares because these securities are convertible, at the holder’s option, into Lexington’s common shares. Management believes this is appropriate and relevant to securities analysts, investors and other interested parties because Lexington presents Company FFO on a company-wide basis as if all securities that are convertible, at the holder’s option, into Lexington’s common shares, are converted. Since others do not calculate FFO in a similar fashion, Company FFO may not be comparable to similarly titled measures as reported by others.
# # #
Page 9 of 42

 


 

LEXINGTON REALTY TRUST
Major Markets
6/30/2008
                 
            % of Annualized
            GAAP Base Rent
        Core Based Statistical Area (2)   at 6/30/2008 (1)
         
  1    
Dallas-Fort Worth-Arlington, TX
    8.8 %
  2    
Los Angeles-Long Beach-Santa Ana, CA
    7.7 %
  3    
New York-Northern New Jersey-Long Island, NY-NJ-PA
    5.8 %
  4    
Houston-Sugar Land-Baytown, TX
    5.8 %
  5    
Memphis, TN-MS-AR
    3.7 %
  6    
Orlando-Kissimmee, FL
    3.4 %
  7    
Atlanta-Sandy Springs-Marietta, GA
    3.4 %
  8    
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
    3.1 %
  9    
Detroit-Warren-Livonia, MI
    2.4 %
  10    
Richmond, VA
    2.2 %
  11    
Boston-Cambridge-Quincy, MA-NH
    1.9 %
  12    
Indianapolis-Carmel, IN
    1.9 %
  13    
Charlotte-Gastonia-Concord, NC-SC
    1.9 %
  14    
Chicago-Naperville-Joliet, IL-IN-WI
    1.8 %
  15    
Columbus, OH
    1.8 %
  16    
Salt Lake City, UT
    1.7 %
  17    
Kansas City, MO-KS
    1.7 %
  18    
Seattle-Tacoma-Bellevue, WA
    1.6 %
  19    
Phoenix-Mesa-Scottsdale, AZ
    1.5 %
  20    
Washington-Arlington-Alexandria, DC-VA-MD-WV
    1.4 %
  21    
San Francisco-Oakland-Fremont, CA
    1.4 %
  22    
San Antonio, TX
    1.4 %
  23    
Beaumont-Port Arthur, TX
    1.3 %
  24    
Baltimore-Towson, MD
    1.3 %
  25    
Columbus, IN
    1.3 %
  26    
Miami-Fort Lauderdale-Pompano Beach, FL
    1.2 %
  27    
Cincinnati-Middletown, OH-KY-IN
    1.2 %
  28    
Las Vegas-Paradise, NV
    1.1 %
  29    
Hartford-West Hartford-East Hartford, CT
    1.1 %
  30    
Honolulu, HI
    1.0 %
  31    
Harrisburg-Carlisle, PA
    1.0 %
  32    
Denver-Aurora, CO
    1.0 %
         
       
 
       
       
Areas which account for 1% or greater of total GAAP base rent (3)
    77.9 %
       
 
       
Footnotes
 
(1)   Calculated by annualizing six months ended 6/30/2008 GAAP base rent recognized for consolidated properties owned as of 6/30/2008.
 
(2)   A Core Based Statistical Area is the official term for a functional region based around an urban center of at least 10,000 people, based on standards published by the Office of Management and Budget (OMB) in 2000. These standards are used to replace the definitions of metropolitan areas that were defined in 1990.
 
(3)   Total shown may differ from detailed amounts due to rounding.
Page 10 of 42

 


 

LEXINGTON REALTY TRUST
Tenant Industry Diversification
6/30/2008
         
    % of Annualized
    GAAP Base Rent at
Industry Category   6/30/2008 (1)
 
Finance/Insurance
    15.7 %
 
       
Energy
    10.2 %
 
       
Automotive
    9.1 %
 
       
Technology
    8.9 %
 
       
Food
    7.4 %
 
       
Aerospace/Defense
    6.4 %
 
       
Consumer Products/Other
    5.8 %
 
       
Media/Advertising
    5.3 %
 
       
Transportation/Logistics
    5.1 %
 
       
Healthcare
    4.8 %
 
       
Service
    3.8 %
 
       
Retail Department & Discount
    2.6 %
 
       
Construction Materials
    2.5 %
 
       
Printing/Production
    2.2 %
 
       
Telecommunications
    2.0 %
 
       
Other
    1.7 %
 
       
Apparel
    1.5 %
 
       
Real Estate
    1.4 %
 
       
Retail — Specialty
    1.3 %
 
       
Security
    1.0 %
 
       
Retail — Electronics
    1.0 %
 
       
Health/Fitness
    0.1 %
 
       
 
       
Total (2)
    100.0 %
 
       
Footnotes
 
(1)   Calculated by annualizing six months ended 6/30/2008 GAAP base rent recognized for consolidated properties owned as of 6/30/2008.
 
(2)   Total shown may differ from detailed amounts due to rounding.
Page 11 of 42

 


 

LEXINGTON REALTY TRUST
Other Revenue Data
6/30/2008
                 
    Annualized GAAP        
    Base Rent at 6/30/08        
    ($000) (1)     Percentage  
     
Asset Class
               
Office
  $ 264,186       73.0 %
Industrial
  $ 73,336       20.3 %
Retail
  $ 24,382       6.7 %
     
 
  $ 361,904       100.0 %
     
 
               
Credit Rating
               
Investment Grade
  $ 189,006       52.3 %
Non-Investment Grade
  $ 52,606       14.5 %
Unrated
  $ 120,292       33.2 %
     
 
  $ 361,904       100.0 %
     
Footnotes
 
(1)   Calculated by annualizing six months ended 6/30/2008 GAAP base rent recognized for consolidated properties owned as of 6/30/2008.

Page 12 of 42


 

LEXINGTON REALTY TRUST
Top 10 Tenants or Guarantors
6/30/2008
                                         
                                    Percentage of
                            Annualized   Annualized
                    Sq. Ft. Leased   GAAP Base   GAAP Base
                    as a Percent of   Rent at   Rent at
    Number of           Consolidated   6/30/08   6/30/2008
Tenant or Guarantor   Leases   Sq. Ft. Leased   Portfolio (2)   ($000) (1)   (1) (2)
 
Raytheon Company
    2       690,595       1.7 %   $ 11,720       3.2 %
Bank of America
    11       735,253       1.8 %     10,412       2.9 %
Baker Hughes, Inc.
    2       720,221       1.8 %     9,318       2.6 %
Sanofi-aventis U.S., Inc. (Aventis Inc. and Aventis Pharma Holding GmbH)
    1       206,593       0.5 %     8,838       2.4 %
Dana Corporation
    6       1,902,414       4.6 %     8,300       2.3 %
Federal Express Corporation
    3       702,976       1.7 %     8,164       2.3 %
Harcourt, Inc.
    2       915,098       2.2 %     7,168       2.0 %
Morgan, Lewis & Bockius, LLC
    2       293,170       0.7 %     6,868       1.9 %
Wells Fargo
    3       354,732       0.9 %     6,620       1.8 %
CEVA Logistics US, Inc. (TNT Holdings BV)
    3       2,503,916       6.1 %     6,570       1.8 %
     
 
    35       9,024,968       22.0 %   $ 83,978       23.2 %
     
Footnotes
 
(1)   Calculated by annualizing six months ended 6/30/2008 GAAP base rent recognized for consolidated properties owned as of 6/30/2008.
 
(2)   Total shown may differ from detailed amounts due to rounding.
Page 13 of 42

 


 

LEXINGTON REALTY TRUST
Property Leases and Vacancies — Consolidated Portfolio — 6/30/08
                                                                 
Year of   Date of                       Year           Annualized   Annualized   Fixed Rent at
Lease   Lease                       Built/Renovated/   Sq.Ft. Leased   Cash Rent   GAAP Rent   Next Option
Expiration   Expiration   Property Location   City   State   Note   Primary Tenant (Guarantor)   Expanded   or Available (1)   ($000) (2)   ($000) (3)   ($000) (4)
 
OFFICE PROPERTIES
                                                     
 
                                                               
2008
    9/30/2008     5757 Decatur Blvd.   Indianapolis   IN     Damar Services, Inc.   2002     5,756       40       40       10  
 
    12/19/2008     10 John St.   Clinton   CT     Unilever Supply Chain, Inc. (Unilever United States, Inc.)   1972     41,188       812       2,204       0  
 
    12/31/2008     1500 Hughes Way   Long Beach   CA     Raytheon Company   1981     490,054       16,988       10,040       9,291  
 
                                                               
2009
    3/31/2009     6277 Sea Harbor Dr.   Orlando   FL     Harcourt Brace Jovanovich, Inc.   1984     355,840       4,644       3,738       3,735  
 
    4/30/2009     5550 Tech Center Dr.   Colorado Springs   CO     Federal Express Corporation   2006     61,690       1,754       746       0  
 
    8/31/2009     1311 Broadfield Blvd.   Houston   TX     Newpark Drilling Fluids, Inc. (Newpark Resources, Inc.)   2000     52,731       1,130       1,136       0  
 
          2706 Media Center Dr.   Los Angeles   CA     Sony Electronics, Inc.   2000     20,203       278       272       0  
 
    9/15/2009     15375 Memorial Dr.   Houston   TX     BP America Production Company   1985     327,325       3,600       4,250       0  
 
    9/30/2009     100 Light St.   Baltimore   MD   (7)   Legg Mason Tower, Inc. (Prior tenant St. Paul Fire and Marine Insurance Company)   1973     371,392       2,840       2,840       0  
 
          295 Chipeta Way   Salt Lake City   UT     Northwest Pipeline Corporation   1982     295,000       6,326       6,326       3,463  
 
    10/31/2009     10300 Kincaid Dr.   Fishers   IN     Bank One Indiana, N.A.   1999     193,000       3,382       2,774       0  
 
    11/30/2009     5724 West Las Positas Blvd.   Pleasanton   CA     NK Leasehold   1984     40,914       826       680       0  
 
    12/31/2009     1701 Market St.   Philadelphia   PA   (6)   Sun National Bank   1957/1997     5,315       212       212       0  
 
          400 Butler Farm Rd.   Hampton   VA     Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)   1999     100,632       1,368       1,302       0  
 
                                                               
2010
    1/14/2010     421 Butler Farm Rd.   Hampton   VA     Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)   2000     56,515       768       720       0  
 
    1/31/2010     4848 129th East Ave.   Tulsa   OK     Metris Direct (Metris Companies, Inc.)   2000     101,100       1,306       1,306       0  
 
          389-399 Interpace Hwy.   Parsippany   NJ     Sanofi-aventis U.S., Inc. (Aventis Inc. and Aventis Pharma Holding GmbH)   1999     206,593       9,014       8,838       0  
 
    2/10/2010     130 East Shore Dr.   Glen Allen   VA     Capital One Services, Inc.   2000     79,675       1,022       1,072       1,070  
 
    2/28/2010     9950 Mayland Dr.   Richmond   VA     Circuit City Stores, Inc.   1990     288,000       2,860       2,792       4,079  
 
    3/31/2010     120 East Shore Dr.   Glen Allen   VA     Capital One Services, Inc.   2000     77,045       986       1,010       1,042  
 
    7/31/2010     350 Pine St.   Beaumont   TX     Honeywell International, Inc.   1981     7,045       108       108       0  
 
    10/31/2010     12209 West Markham St.   Little Rock   AR     Entergy Arkansas, Inc.   1980     36,311       238       238       237  
 
          13430 North Black Canyon Fwy.   Phoenix   AZ     Bull HN Information Systems, Inc.   1981/1982     64,273       726       702       0  
 
    11/30/2010     6200 Northwest Pkwy.   San Antonio   TX     United Healthcare Services, Inc.   2000     142,500       1,640       1,620       1,968  
 
    12/31/2010     100 Barnes Rd.   Wallingford   CT     3M Company   1978/1985/1990/1993     44,400       628       606       475  
 
                                                               
2011
    2/28/2011     4200 RCA Blvd.   Palm Beach Gardens   FL     The Wackenhut Corporation   1996     96,118       1,812       1,812       2,402  
 
    3/31/2011     1311 Broadfield Blvd.   Houston   TX     Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.)   2000     103,260       2,284       2,276       0  
 
    9/30/2011     200 Lucent Ln.   Cary   NC     Lucent Technologies, Inc.   1999     124,944       2,150       2,058       0  
 
    11/30/2011     207 Mockingbird Ln.   Johnson City   TN     Sun Trust Bank   1979     63,800       676       756       675  
 
    12/20/2011     15 Nijborg   3927 DA Renswoude   The Netherlands     AS Watson (Health and Beauty Continental Europe) BV   1994/2003     17,610       374       374       0  
 
    12/31/2011     2050 Roanoke Rd.   Westlake   TX     Daimler Chrysler Financial Services Americas, LLC   2001     130,290       3,660       3,454       0  
 
                                                               
2012
    1/31/2012     26210 and 26220 Enterprise Court   Lake Forest   CA     Apria Healthcare, Inc. (Apria Healthcare Group, Inc.)   2001     100,012       1,854       1,792       0  
 
          4000 Johns Creek Pkwy.   Suwanee   GA     Kraft Foods North America, Inc.   2001     73,264       1,380       1,386       0  
 
          1275 Northwest 128th St.   Clive   IA     Principal Life Insurance Company   2004     61,180       800       800       935  
 
    3/31/2012     1701 Market St.   Philadelphia   PA   (6)   Car-Tel Communications, Inc.   1957/1997     1,220       46       48       0  
 
          2300 Litton Ln.   Hebron   KY     Zwicker & Associates, P.C.   1986/1996     49,590       78       80       0  
 
          3940 South Teller St.   Lakewood   CO     Travelers Express Company, Inc.   2002     68,165       1,170       866       1,295  

Page 14 of 42


 

LEXINGTON REALTY TRUST
Property Leases and Vacancies — Consolidated Portfolio — 6/30/08
                                                                 
Year of   Date of                       Year           Annualized   Annualized   Fixed Rent at
Lease   Lease                       Built/Renovated/   Sq.Ft. Leased   Cash Rent   GAAP Rent   Next Option
Expiration   Expiration   Property Location   City   State   Note   Primary Tenant (Guarantor)   Expanded   or Available (1)   ($000) (2)   ($000) (3)   ($000) (4)
 
 
    6/30/2012     275 South Valencia Ave.   Brea   CA     Bank of America NT & SA   1983     637,503       8,710       8,796       0  
 
    8/31/2012     2300 Litton Ln.   Hebron   KY     AGC Automotive Americas Company (AFG Industries, Inc.)   1986/1996     21,542       204       204       0  
 
          5757 Decatur Blvd.   Indianapolis   IN     Allstate Insurance Company   2002     84,200       1,374       1,548       0  
 
    10/31/2012     4455 American Way   Baton Rouge   LA     Bell South Mobility, Inc.   1997     70,100       1,080       1,114       1,207  
 
    11/7/2012     2706 Media Center Dr.   Los Angeles   CA     Playboy Enterprises, Inc.   2000     63,049       1,446       1,258       0  
 
    11/14/2012     2211 South 47th St.   Phoenix   AZ     Avnet, Inc.   1997     176,402       2,206       2,260       0  
 
    12/31/2012     200 Executive Blvd. S   Southington   CT     Hartford Fire Insurance Company   1984     153,364       1,680       1,624       0  
 
                                                               
2013
    1/31/2013     12600 Gateway Blvd.   Fort Meyers   FL     Gartner, Inc.   1998     62,400       1,078       1,092       0  
 
          2300 Litton Ln.   Hebron   KY     FTJ FundChoice, LLC   1986/1996     9,164       50       48       0  
 
          3476 Stateview Blvd.   Fort Mill   SC     Wells Fargo Home Mortgage, Inc.   2004     169,083       3,004       3,022       0  
 
          810 & 820 Gears Rd.   Houston   TX     IKON Office Solutions, Inc.   2000     157,790       2,228       2,252       0  
 
    3/31/2013     3165 McKelvey Rd.   Bridgeton   MO     BJC Health System   1981     52,994       378       526       0  
 
          8900 Freeport Pkwy.   Irving   TX     Nissan Motor Acceptance Corporation (Nissan North America, Inc.)   2003     268,445       4,692       4,888       0  
 
    4/30/2013     1900 L. Don Dodson Dr.   Bedford   TX     Transamerica Life Insurance Company   1984     59,285       0       782       0  
 
          Sandlake Rd./Kirkman Rd.   Orlando   FL     Lockheed Martin Corporation   1982     184,000       960       1,870       960  
 
    5/31/2013     6303 Barfield Rd.   Atlanta   GA     International Business Machines Corporation (Internet Security Systems, Inc.)   2000/2001     238,600       5,394       5,394       0  
 
          859 Mount Vernon Hwy.   Atlanta   GA     International Business Machines Corporation (Internet Security Systems, Inc.)   2004     50,400       1,166       942       0  
 
    6/30/2013     2210 Enterprise Dr.   Florence   SC   (6)   Washington Mutual Home Loans, Inc.   1998     177,747       1,750       1,698       0  
 
    7/31/2013     180 Rittenhouse Cir.   Bristol   PA     Jones Apparel Group, Inc.   1998     96,000       1,002       970       0  
 
    8/31/2013     288 North Broad St.   Elizabeth   NJ     Bank of America   1983     30,000       772       480       367  
 
          656 Plainsboro Rd.   Plainsboro   NJ     Bank of America (Bank of America Corporation)   1980     4,060       156       104       70  
 
    9/30/2013     9200 South Park Center Loop   Orlando   FL   (6)   Corinthian Colleges, Inc.   2003     59,927       1,208       1,160       0  
 
    11/30/2013     1110 Bayfield Dr.   Colorado Springs   CO     Honeywell International, Inc.   1980/1990/2002     166,575       1,636       1,600       1,713  
 
    12/31/2013     2550 Interstate Dr.   Harrisburg   PA     New Cingular Wireless PCS, LLC   1998     81,859       1,780       1,870       0  
 
                                                               
2014
    1/31/2014     1701 Market St.   Philadelphia   PA     Morgan, Lewis & Bockius, LLC   1957/1997     293,170       4,460       4,464       5,149  
 
          6226 West Sahara Ave.   Las Vegas   NV     Nevada Power Company   1982     282,000       7,736       4,008       2,754  
 
    3/15/2014     101 East Erie St.   Chicago   IL     Draftfcb, Inc. (Interpublic Group of Companies, Inc.)   1986     230,684       4,120       4,978       0  
 
    5/31/2014     3480 Stateview Blvd.   Fort Mill   SC     Wells Fargo Bank N.A.   2004     169,218       3,342       3,450       0  
 
    7/31/2014     16676 Northchase Dr.   Houston   TX     Anadarko Petroleum Corporation   2003     101,111       1,588       1,626       0  
 
          350 Pine St.   Beaumont   TX     Entergy Gulf States, Inc.   1981     125,406       1,066       1,262       0  
 
    9/30/2014     333 Mt. Hope Ave.   Rockway   NJ     BASF Corporation   1981/2004     95,500       2,244       2,122       0  
 
    10/31/2014     1409 Centerpoint Blvd.   Knoxville   TN     Alstom Power, Inc.   1997     84,404       1,522       1,620       0  
 
          2800 Waterford Lake Dr.   Midlothian   VA     Alstom Power, Inc.   2000     99,057       1,894       2,014       0  
 
          700 US Hwy Route 202-206   Bridgewater   NJ     Biovail Pharmaceuticals, Inc. (Biovail Corporation)   1985/2003/2004     115,558       2,022       2,848       0  
 
    12/14/2014     5150 220th Ave.   Issaquah   WA     OSI Systems, Inc. (Instrumentarium Corporation)   1992     106,944       2,056       2,150       0  
 
          22011 Southeast 51st St.   Issaquah   WA     OSI Systems, Inc. (Instrumentarium Corporation)   1987     95,600       1,872       1,936       0  

Page 15 of 42


 

LEXINGTON REALTY TRUST
Property Leases and Vacancies — Consolidated Portfolio — 6/30/08
                                                                 
Year of   Date of                       Year           Annualized   Annualized   Fixed Rent at
Lease   Lease                       Built/Renovated/   Sq.Ft. Leased   Cash Rent   GAAP Rent   Next Option
Expiration   Expiration   Property Location   City   State   Note   Primary Tenant (Guarantor)   Expanded   or Available (1)   ($000) (2)   ($000) (3)   ($000) (4)
 
 
    12/31/2014     180 South Clinton St.   Rochester   NY   (6)   Frontier Corporation   1988/2000     226,000       2,958       2,950       0  
 
          275 Technology Dr.   Canonsburg   PA     ANSYS, Inc.   1996     107,872       1,240       1,378       0  
 
          3535 Calder Ave.   Beaumont   TX     Compass Bank   1977     49,639       692       692       0  
 
                                                               
2015
    1/31/2015     26555 Northwestern Hwy.   Southfield   MI     Federal-Mogul Corporation   1963/1965/1988/1989     187,163       1,158       1,418       5,292  
 
    4/30/2015     13775 McLearen Rd.   Herndon   VA     Equant, Inc. (Equant N.V.)   1984/1988/1992     125,293       1,980       2,102       0  
 
    6/30/2015     389-399 Interpace Hwy.   Parsippany   NJ     Cadbury Schweppes Holdings   1999     133,647       212       212       0  
 
    7/1/2015     33 Commercial St.   Foxboro   MA     Invensys Systems, Inc. (Siebe, Inc.)   1982/1987     164,689       3,436       3,436       3,024  
 
    7/31/2015     4001 International Pkwy.   Carrollton   TX     Motel 6 Operating L.P. (Accor S.A.)   2003     138,443       2,992       3,266       3,612  
 
    9/27/2015     10001 Richmond Ave.   Houston   TX     Baker Hughes, Inc.   1976/1984     554,385       7,428       7,376       6,596  
 
          12645 West Airport Rd.   Sugar Land   TX     Baker Hughes, Inc.   1997     165,836       2,018       1,942       1,976  
 
    9/30/2015     500 Olde Worthington Rd.   Westerville   OH   (5)   InVentiv Communications, Inc.   2000     97,000       1,110       1,254       0  
 
          550 Business Center Dr.   Lake Mary   FL     JP Morgan Chase Bank, NA   1999     125,920       2,990       2,410       3,103  
 
          600 Business Center Dr.   Lake Mary   FL     JP Morgan Chase Bank, NA   1996     125,155       3,092       2,440       3,203  
 
                                                               
2016
    3/31/2016     13430 North Black Canyon Fwy.   Phoenix   AZ     Money Management International   1981/1982     28,710       300       624       0  
 
    4/30/2016     11511 Luna Rd.   Farmers Branch   TX     Haggar Clothing Company (Texas Holding Clothing Corporation and Haggar Corporation)   2000     180,507       2,132       3,188       2,531  
 
          2000 Eastman Dr.   Milford   OH     Siemens Product Lifecycle Management Software, Inc.   1991     221,215       2,342       1,678       2,426  
 
    7/31/2016     1600 Viceroy Dr.   Dallas   TX     Visiting Nurse Association   1986     48,027       478       618       0  
 
          13430 North Black Canyon Fwy.   Phoenix   AZ     Associated Billing Services, LLC   1981/1982     17,767       300       308       0  
 
    10/31/2016     104 & 110 South Front St.   Memphis   TN     Hnedak Bobo Group, Inc.   1871/1988/1999     37,229       484       502       0  
 
    11/30/2016     4000 Johns Creek Pkwy.   Suwanee   GA     Perkin Elmer Instruments, LLC   2001     13,955       220       232       0  
 
    12/31/2016     3710 Corporate Dr.   Farmington Hills   MI     TEMIC Automotive of North America, Inc.   2001     119,829       3,074       2,442       3,187  
 
                                                               
2017
    1/31/2017     6301 Gaston Ave.   Dallas   TX     Wells Fargo   1970/1981     16,431       148       148       0  
 
    2/28/2017     4200 RCA Blvd.   Palm Beach Gardens   FL     Office Suites Plus Properties, Inc.   1996     18,400       140       408       0  
 
    4/30/2017     555 Dividend Dr.   Coppell   TX     Brinks, Inc.   2002     101,844       1,858       1,984       0  
 
    9/30/2017     9201 East Dry Creek Rd.   Centennial   CO     The Shaw Group, Inc.   2001/2002     128,500       2,154       2,368       0  
 
                                                               
2018
    5/30/2018     13651 McLearen Rd.   Herndon   VA   (7)   US Government (Prior tenant Boeing Service Company)   1987     159,664       2,900       2,646       0  
 
    5/31/2018     2300 Litton Ln.   Hebron   KY     Great American Insurance Company   1986/1996     3,145       0       2       99  
 
    6/14/2018     17 Nijborg   3927 DA Renswoude   The Netherlands     AS Watson (Health and Beauty Continental Europe) BV   1994/2003     114,195       3,336       2,642       0  
 
    9/30/2018     1701 Market St.   Philadelphia   PA   (6)   Brinker Corner Bakery II, LLC   1957/1997     8,070       194       214       0  
 
    11/30/2018     4201 Marsh Ln.   Carrollton   TX     Carlson Restaurants Worldwide, Inc. (Carlson Companies, Inc.)   2003     130,000       1,868       1,976       0  
 
    12/22/2018     5200 Metcalf Ave.   Overland Park   KS     Employers Reinsurance Corporation   1980/1990/2004/2005     320,198       4,198       4,230       0  
 
                                                               
2019
    1/31/2019     1600 Viceroy Dr.   Dallas   TX     TFC Services (Freeman Decorating Co.)   1986     110,080       1,084       1,490       0  
 
    4/1/2019     9201 Stateline Rd.   Kansas City   MO     Employers Reinsurance Corporation   1963/1973/1985/2003     155,925       2,032       2,032       0  
 
    6/19/2019     3965 Airways Blvd.   Memphis   TN     Federal Express Corporation   1982/1983/1985     521,286       7,354       7,014       5,375  
 
    7/31/2019     500 Jackson St.   Columbus   IN     Cummins, Inc.   1983     390,100       4,270       4,540       4,925  
 
    10/31/2019     10475 Crosspoint Blvd.   Fishers   IN     John Wiley & Sons, Inc.   1999     141,047       2,396       2,268       0  
 
    12/31/2019     850-950 Warrenville Rd.   Lisle   IL   (5)   National Louis University   1985     99,329       1,276       1,676       0  

Page 16 of 42


 

LEXINGTON REALTY TRUST
Property Leases and Vacancies — Consolidated Portfolio — 6/30/08
                                                                 
Year of   Date of                       Year           Annualized   Annualized   Fixed Rent at
Lease   Lease                       Built/Renovated/   Sq.Ft. Leased   Cash Rent   GAAP Rent   Next Option
Expiration   Expiration   Property Location   City   State   Note   Primary Tenant (Guarantor)   Expanded   or Available (1)   ($000) (2)   ($000) (3)   ($000) (4)
 
2020
    2/14/2020     5600 Broken Sound Blvd.   Boca Raton   FL   (6)   Océ Printing Systems USA, Inc. (Oce-USA Holding, Inc.)   1983/2002     136,789       2,162       2,246       0  
 
    7/8/2020     1460 Tobias Gadsen Blvd.   Charleston   SC   (6)   Hagemeyer North America, Inc.   2005     50,076       762       840       0  
 
                                                               
2021
    2/28/2021     5550 Britton Pkwy.   Hilliard   OH   (5)   BMW Financial Services NA, LLC   2006     220,966       2,496       2,546       0  
 
    6/30/2021     1415 Wyckoff Rd.   Wall   NJ     New Jersey Natural Gas Company   1983     157,511       2,924       2,924       4,224  
 
    11/30/2021     29 South Jefferson Rd.   Whippany   NJ     CAE SimuFlite, Inc.   2006     76,383       2,262       2,328       2,069  
 
                                                               
2022
    12/31/2022     147 Milk St.   Boston   MA     Harvard Vanguard Medical Assoc.   1910     52,337       1,558       1,594       0  
 
                                                               
2023
    3/31/2023     6555 Sierra Dr.   Irving   TX     TXU Energy Retail Company, LLC (Texas Competitive Electric Holdings Company, LLC)   1999     247,254       1,036       2,814       0  
 
                                                               
2025
    11/30/2025     11707 Miracle Hills Dr.   Omaha   NE     (i) Structure, LLC (Infocrossing, Inc.)   1995     85,200       1,166       1,166       0  
 
    12/31/2025     2005 EastTechnology Cir.   Tempe   AZ     (i) Structure, LLC (Infocrossing, Inc.)   1998     60,000       1,128       1,128       0  
 
                                                               
NA
  NA     100 Light St.   Baltimore   MD     (Available for Lease)   1973     12,648       0       0       0  
 
          160 Clairemont Ave.   Decatur   GA     (Available for Lease)   1983     89,050       0       0       0  
 
          1600 Viceroy Dr.   Dallas   TX     (Available for Lease)   1986     54,642       0       0       0  
 
          1701 Market St.   Philadelphia   PA     Parking Operators   1957/1997           2,404       2,404       0  
 
          1900 L. Don Dodson Dr.   Bedford   TX     (Available for Lease)   1984     143,208       0       0       0  
 
          255 California St.   San Francisco   CA     (Available for Lease)   1959     12,435       0       0       0  
 
          27404 Drake Rd.   Farmington Hills   MI     (Available for Lease)   1999     108,499       0       0       0  
 
          350 Pine St.   Beaumont   TX     (Available for Lease)   1981     113,640       0       0       0  
 
          6301 Gaston Ave.   Dallas   TX     (Available for Lease)   1970/1981     72,224       0       0       0  
 
          848 Main St. & 849 Front St.   Evanston   WY     (Available for Lease)   1983     7,608       0       0       0  
 
          13430 North Black Canyon Fwy.   Phoenix   AZ     (Available for Lease)   1981/1982     28,190       0       0       0  
 
          100 East Shore Dr.   Glen Allen   VA     (Available for Lease)   1999     3,263       0       0       0  
 
          1770 Cartwright Rd.   Irvine   CA   (7)   (Available for Lease)(Prior tenant Associates First Capital Corporation)   1982     113,029       4,792       3,576       0  
 
          King St.   Honolulu   HI     (Available for Lease)   1979/2002     6,068       0       0       0  
 
                                                               
Various
  Various     100 Light St.   Baltimore   MD     Multi-Tenant   1973     139,200       1,542       1,542       0  
 
          160 Clairemont Ave.   Decatur   GA     Multi-Tenant   1983     32,636       584       584       0  
 
          255 California St.   San Francisco   CA     Multi-Tenant   1959     157,492       4,058       4,468       0  
 
          350 Pine St.   Beaumont   TX     Multi-Tenant   1981     179,107       1,088       2,780       0  
 
          6301 Gaston Ave.   Dallas   TX     Multi-Tenant   1970/1981     85,200       1,236       1,236       0  
 
          848 Main St. & 849 Front St.   Evanston   WY     Multi-Tenant   1983     21,892       110       164       0  
 
          100 East Shore Dr.   Glen Allen   VA     Multi-Tenant   1999     64,245       1,104       1,200       0  
 
          1770 Cartwright Rd.   Irvine   CA     Multi-Tenant   1982     23,151       480       480       0  
 
          King St.   Honolulu   HI     Multi-Tenant   1979/2002     223,778       2,870       2,806       990  
                                             
OFFICE TOTAL/WEIGHTED AVERAGE
            95.6% Leased         17,291,307       269,262       264,186          
                                             

Page 17 of 42


 

LEXINGTON REALTY TRUST
Property Leases and Vacancies — Consolidated Portfolio — 6/30/08
                                                                 
Year of   Date of                       Year           Annualized   Annualized   Fixed Rent at
Lease   Lease                       Built/Renovated/   Sq.Ft. Leased   Cash Rent   GAAP Rent   Next Option
Expiration   Expiration   Property Location   City   State   Note   Primary Tenant (Guarantor)   Expanded   or Available (1)   ($000) (2)   ($000) (3)   ($000) (4)
 
INDUSTRIAL PROPERTIES
                                                       
 
                                                               
2008
    7/7/2008     6 Doughten Rd.   New Kingstown   PA     Carolina Logistics Services   1989     168,000       756       756       0  
 
    9/30/2008     191 Arrowhead Dr.   Hebron   OH     Owens Corning Insulating Systems, LLC   1999     102,960       278       278       0  
 
    12/31/2008     1665 Hughes Way   Long Beach   CA     Raytheon Company   1981     200,541       2,984       1,680       1,677  
 
                                                               
2009
    5/31/2009     200 Arrowhead Dr.   Hebron   OH     Owens Corning Insulating Systems, LLC   2000     401,260       1,028       984       0  
 
    12/31/2009     75 North St.   Saugerties   NY     Rotron, Inc. (EG&G)   1975     52,000       122       232       122  
 
                                                               
2010
    4/30/2010     2203 Sherrill Dr.   Statesville   NC     LA-Z-Boy Greensboro, Inc. (LA-Z-Boy Inc.)   1999/2002     639,600       1,648       1,902       1,813  
 
    12/31/2010     1109 Commerce Blvd.   Swedesboro   NJ     Linens-n-Things, Inc.   1998     262,644       1,258       1,254       1,300  
 
          113 Wells St.   North Berwick   ME     United Technologies Corporation   1965/1980     820,868       2,346       2,346       1,811  
 
                                                               
2011
    3/31/2011     2455 Premier Dr.   Orlando   FL     Walgreen Company   1980     205,016       508       786       508  
 
    5/31/2011     291 Park Center Dr.   Winchester   VA   (5)   Kraft Foods North America, Inc.   2001     344,700       1,608       1,576       0  
 
    9/25/2011     3820 Micro Dr.   Millington   TN   (6)   Ingram Micro, L.P (Ingram Micro, Inc.)   1997     701,819       2,440       2,370       0  
 
    9/30/2011     1601 Pratt Ave.   Marshall   MI     Joseph Campbell Company   1979     53,600       120       118       0  
 
                                                               
2012
    8/4/2012     101 Michelin Dr.   Laurens   SC     CEVA Logistics US, Inc. (TNT Holdings BV)   1991/1993     1,164,000       3,102       3,304       2,619  
 
          7111 Crabb Rd.   Temperance   MI     CEVA Logistics US, Inc. (TNT Holdings BV)   1978/1993     744,570       2,078       2,212       1,756  
 
    10/31/2012     43955 Plymouth Oaks Blvd.   Plymouth   MI     Tower Automotive Operations USA I, LLC (Tower Automotive Holdings I, LLC)   1996/1998     290,133       1,886       1,834       2,083  
 
    12/31/2012     245 Salem Church Rd.   Mechanicsburg   PA     Exel Logistics, Inc. (NFC plc)   1985     252,000       870       866       0  
 
                                                               
2013
    10/31/2013     7150 Exchequer Dr.   Baton Rouge   LA     Corporate Express Office Products, Inc. (CEX Holding, Inc.)   1998/2005     79,086       460       440       0  
 
    12/13/2013     3333 Coyote Hill Rd.   Palo Alto   CA     Xerox Corporation   1973/1975/1982     202,000       3,580       3,390       3,499  
 
                                                               
2014
    1/2/2014     Moody Commuter & Tech Park   Moody   AL     CEVA Logistics US, Inc. (TNT Holdings BV)   2004     595,346       1,054       1,054       1,054  
 
    1/31/2014     1133 Poplar Creek Rd.   Henderson   NC     Corporate Express Office Products, Inc. (Buhrmann, N.V.)   1998/2006     196,946       820       810       0  
 
                          Jacobson Warehouse Company, Inc. (Jacobson Distribution Company, Inc. and Jacobson                                    
 
    12/31/2014     3686 South Central Ave.   Rockford   IL     Transportation Company, Inc.)   1992     90,000       332       314       446  
 
                                                               
2015
    10/31/2015     3600 Southgate Dr.   Danville   IL     Sygma Network, Inc. (Sysco Corporation)   2000     205,150       1,206       1,206       1,027  
 
                          Jacobson Warehouse Company, Inc. (Jacobson Distribution Company, Inc. and Jacobson                                    
 
    12/31/2015     749 Southrock Dr.   Rockford   IL     Transportation Company, Inc.)   1998     150,000       450       488       525  
 
                                                               
2016
    2/28/2016     7670 Hacks Cross Rd.   Olive Branch   MS     MAHLE Clevite, Inc. (MAHLE Industries, Inc.)   1989     268,104       954       916       0  
 
    3/31/2016     19500 Bulverde Rd.   San Antonio   TX     Harcourt, Inc. (Harcourt General, Inc.)   2001     559,258       3,330       3,430       0  
 
    8/31/2016     10590 Hamilton Ave.   Cincinnati   OH     The Hillman Group, Inc.   1991/1994/1995/2005     247,088       792       792       0  
 
    9/30/2016     900 Industrial Blvd.   Crossville   TN     Dana Commercial Vehicle Products, LLC (Dana Limited)   1989     222,200       684       684       802  
 
                                                               
2017
    2/28/2017     3456 Meyers Ave.   Memphis   TN     Sears, Roebuck & Company   1973     780,000       1,592       1,694       1,592  
 
    6/30/2017     7500 Chavenelle Rd.   Dubuque   IA     The McGraw-Hill Companies, Inc.   2002     330,988       1,090       1,164       0  
 
    9/30/2017     250 Swathmore Ave.   High Point   NC     Steelcase, Inc.   2002     244,851       1,056       1,086       1,165  
 
    10/31/2017     1420 Greenwood Rd.   McDonough   GA     Atlas Cold Storage America, LLC   2000     296,972       2,810       2,596       0  
 
                                                               
2018
    5/31/2018     50 Tyger River Dr.   Duncan   SC   (6)   Plastic Omnium Exteriors, LLC   2005/2007     222,103       902       902       0  
 
    6/30/2018     1650-1654 Williams Rd.   Columbus   OH     ODW Logistics, Inc.   1973     772,450       1,348       1,342       1,347  
 
                                                               
2019
    10/17/2019     10345 Philipp Pkwy   Streetsboro   OH     L'Oreal USA S/D, Inc. (L’Oreal USA, Inc.)   2004     649,250       2,290       2,610       3,149  

Page 18 of 42


 

LEXINGTON REALTY TRUST
Property Leases and Vacancies — Consolidated Portfolio — 6/30/08
                                                                 
Year of   Date of                       Year           Annualized   Annualized   Fixed Rent at
Lease   Lease                       Built/Renovated/   Sq.Ft. Leased   Cash Rent   GAAP Rent   Next Option
Expiration   Expiration   Property Location   City   State   Note   Primary Tenant (Guarantor)   Expanded   or Available (1)   ($000) (2)   ($000) (3)   ($000) (4)
 
2020
    3/31/2020     2425 Hwy. 77 North   Waxahachie   TX     James Hardie Building Products, Inc. (James Hardie NV)   1996/2001     425,816       3,400       3,400       0  
 
    6/30/2020     3102 Queen Palm Dr.   Tampa   FL     Time Customer Service, Inc. (Time, Inc.)   1986     229,605       1,084       1,276       0  
 
    9/30/2020     3350 Miac Cove Rd.   Memphis   TN     Mimeo.com, Inc.   1987     107,405       350       370       0  
 
    12/19/2020     1901 Ragu Dr.   Owensboro   KY     Unilever Supply Chain, Inc. (Unilever United States, Inc.)   1975/1979/1995     443,380       5,254       0       1,802  
 
                                                               
2021
    3/30/2021     121 Technology Dr.   Durham   NH     Heidelberg Web Systems, Inc.   1986/2002/2003     500,500       1,330       1,998       0  
 
    3/31/2021     6050 Dana Way   Antioch   TN     W.M Wright Company   1999     338,700       1,226       1,226       0  
 
    5/31/2021     477 Distribution Pkwy.   Collierville   TN     Federal Express Corporation   1984/1987/2005     120,000       480       404       0  
 
    11/30/2021     2880 Kenny Biggs Rd.   Lumberton   NC     Quickie Manufacturing Corporation   1998/2001/2006     423,280       1,236       1,356       0  
 
    12/31/2021     224 Harbor Freight Rd.   Dillon   SC   (6)   Harbor Freight Tools USA, Inc. (Central Purchasing, Inc.)   2001/2005     1,010,859       2,964       3,078       0  
 
                                                               
2025
    6/30/2025     10000 Business Blvd.   Dry Ridge   KY     Dana Light Axle Products, LLC (Dana Limited)   1988/1999     336,350       1,346       1,346       1,402  
 
          4010 Airpark Dr.   Owensboro   KY     Dana Structural Products, LLC (Dana Limited)   1998/2006     211,598       1,208       1,208       829  
 
          301 Bill Bryan Rd.   Hopkinsville   KY     Dana Structural Products, LLC (Dana Limited)   1989/1999/2000/2005     424,904       1,688       1,688       1,512  
 
          730 North Black Branch Rd.   Elizabethtown   KY     Dana Structural Products, LLC (Dana Limited)   2001     167,770       536       536       558  
 
          750 North Black Branch Rd.   Elizabethtown   KY     Dana Structural Products, LLC (Dana Limited)   1995/2000/2001     539,592       2,838       2,838       2,960  
 
    7/31/2025     7005 Cochran Rd.   Glenwillow   OH     Royal Appliance Manufacturing Company   1997     458,000       1,944       2,188       2,040  
 
                                                               
2026
    10/30/2026     5001 Greenwood Rd.   Shreveport   LA     Libbey Glass, Inc. (Libbey Inc.)   2006     646,000       1,938       2,166       0  
 
                                                               
NA
  NA     191 Arrowhead Dr.   Hebron   OH     (Available for Lease)   1999     147,450       0       0       0  
 
          250 Rittenhouse Cir.   Bristol   PA     (Available for Lease)   1983/1997     255,019       592       648       0  
 
          3350 Miac Cove Rd.   Memphis   TN     (Available for Lease)   1987     33,954       0       0       0  
 
          34 East Main St.   New Kingstown   PA     (Available for Lease)   1981     179,200       210       194       0  
 
          4425 Purks Rd.   Auburn Hills   MI     (Available for Lease)   1987/1988/1998     183,717       0       0       0  
 
          46600 Port St.   Plymouth   MI     (Available for Lease)   1996     134,160       0       0       0  
 
          6 Doughten Rd.   New Kingstown   PA     (Available for Lease)   1989     162,000       0       0       0  
 
          6050 Dana Way   Antioch   TN     (Available for Lease)   1999     338,700       0       0       0  
                                             
INDUSTRIAL TOTAL/WEIGHTED AVERAGE
            92.9% Leased         20,333,462       77,406       73,336          
                                             

Page 19 of 42


 

LEXINGTON REALTY TRUST
Property Leases and Vacancies — Consolidated Portfolio — 6/30/08
                                                                 
Year of   Date of                       Year           Annualized   Annualized   Fixed Rent at
Lease   Lease                       Built/Renovated/   Sq.Ft. Leased   Cash Rent   GAAP Rent   Next Option
Expiration   Expiration   Property Location   City   State   Note   Primary Tenant (Guarantor)   Expanded   or Available (1)   ($000) (2)   ($000) (3)   ($000) (4)
 
RETAIL PROPERTIES
                                                         
 
                                                               
2008
    7/1/2008     1600 East 23rd St.   Chattanooga   TN     The Kroger Company   1983     42,130       708       346       0  
 
    10/31/2008     1000 US Hwy. 17   North Myrtle Beach   SC     Food Lion, Inc.   1981     43,021       144       1,938       0  
 
          835 Julian Ave.   Thomasville   NC     Food Lion, Inc.   1983     21,000       106       106       0  
 
    12/31/2008     7200 Cradle Rock Way   Columbia   MD     GFS Realty, Inc. (Giant Food, Inc.)   1979     57,209       300       412       146  
 
                                                               
2009
    1/31/2009     35400 Cowan Rd.   Westland   MI     Sam’s Real Estate Business Trust   1987/1997     101,402       752       752       0  
 
    3/31/2009     2500 E. Carrier Pkwy.   Grand Prairie   TX     Safeway Stores, Inc.   1984     49,349       494       372       274  
 
    9/30/2009     1032 Fort St. Mall   Honolulu   HI     Macy's Department Stores, Inc.   1979/2002     85,610       990       972       990  
 
    12/31/2009     1066 Main St.   Forest Park   GA     Bank South, N.A. (Bank of America Corporation)   1969     14,859       216       186       199  
 
          201 West Main St.   Cumming   GA     Bank South, N.A. (Bank of America Corporation)   1968/1982     14,208       214       286       198  
 
          2223 North Druid Hills Rd.   Atlanta   GA     Bank South, N.A. (Bank of America Corporation)   1972     6,260       120       96       112  
 
          3468 Georgia Hwy. 120   Duluth   GA     Bank South, N.A. (Bank of America Corporation)   1971     9,300       144       150       133  
 
          4545 Chamblee – Dunwoody Rd.   Chamblee   GA     Bank South, N.A. (Bank of America Corporation)   1972     4,565       96       74       88  
 
          4733 Hills & Dales Rd.   Canton   OH     Bally's Total Fitness of the Midwest (Bally's Health & Tennis Corporation)   1987     37,214       446       396       0  
 
          825 Southway Dr.   Jonesboro   GA     Bank South, N.A. (Bank of America Corporation)   1971     4,894       84       64       77  
 
          956 Ponce de Leon Ave.   Atlanta   GA     Bank South, N.A. (Bank of America Corporation)   1975     3,900       84       86       78  
 
          1698 Mountain Industrial Blvd.   Stone Mountain   GA     Bank South, N.A. (Bank of America Corporation)   1973     5,704       102       90       95  
 
                                                               
2010
    5/31/2010     24th St. West & St. John’s Ave.   Billings   MT     Safeway Stores, Inc.   1981     40,800       186       332       186  
 
                                                               
2011
    5/31/2011     18601 Alderwood Mall Blvd.   Lynnwood   WA     Toys “R” Us, Inc.   1981/1993     43,105       282       298       279  
 
          4811 Wesley St.   Greenville   TX     Safeway Stores, Inc.   1981     48,427       170       242       171  
 
          12535 Southeast 82nd Ave.   Clackamas   OR     Toys “R” Us, Inc.   1981     42,842       306       324       298  
 
          6910 South Memorial Hwy.   Tulsa   OK     Toys “R” Us, Inc.   1981     43,123       258       272       255  
 
    9/30/2011     928 First Ave.   Rock Falls   IL     Rock Falls Country Market, LLC (Rock Island Country Market, LLC)   1982     27,650       78       96       140  
 
    12/29/2011     13133 Steubner Ave.   Houston   TX     The Kroger Company   1980     52,200       282       404       281  
 
                                                               
2012
    4/30/2012     10415 Grande Ave.   Sun City   AZ     Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)   1982     10,000       166       352       0  
 
          119 North Balboa Rd.   El Paso   TX     Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)   1983     10,000       166       136       0  
 
          402 East Crestwood Dr.   Victoria   TX     Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)   1982     10,000       166       116       0  
 
          4121 South Port Ave.   Corpus Christi   TX     Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)   1980     10,000       166       136       0  
 
          900 South Canal St.   Carlsbad   NM     Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)   1981     10,000       166       104       0  
 
          901 West Expwy.   McAllen   TX     Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)   1980     10,000       166       164       0  
 
    5/31/2012     12000 East Mississippi Ave.   Aurora   CO     Safeway Stores, Inc.   1981/1996     24,000       258       276       257  
 
          3451 Alta Mesa Blvd.   Fort Worth   TX     Minyard Food Stores, Inc.   1985     44,000       304       360       304  
 
          Old Mammoth Rd./Meridian Blvd.   Mammoth Lakes   CA     Safeway Stores, Inc.   1982     44,425       410       574       410  
 
    11/30/2012     101 West Buckingham Rd.   Garland   TX     Minyard Food Stores, Inc.   1982     40,000       326       326       326  
 
          120 South Waco St.   Hillsboro   TX     Brookshire Grocery   1982     35,000       160       186       161  
 
          1415 Hwy. 377 East   Granbury   TX     The Kroger Company   1982     35,000       204       316       203  
 
          205 Homer Rd.   Minden   LA     Brookshire Grocery   1981     35,000       192       286       193  

Page 20 of 42


 

LEXINGTON REALTY TRUST
Property Leases and Vacancies — Consolidated Portfolio — 6/30/08
                                                                 
Year of   Date of                       Year           Annualized   Annualized   Fixed Rent at
Lease   Lease                       Built/Renovated/   Sq.Ft. Leased   Cash Rent   GAAP Rent   Next Option
Expiration   Expiration   Property Location   City   State   Note   Primary Tenant (Guarantor)   Expanded   or Available (1)   ($000) (2)   ($000) (3)   ($000) (4)
 
2013
    2/28/2013     US 221 & Hospital Rd.   Jefferson   NC     Food Lion, Inc.   1981     23,000       72       78       73  
 
          104 Branchwood Shopping Center   Jacksonville   NC     Food Lion, Inc.   1982/1995     23,000       84       110       84  
 
          291 Talbert Blvd.   Lexington   NC     Food Lion, Inc.   1981     23,000       138       132       138  
 
          S. Carolina 52/52 Bypass   Moncks Corner   SC     Food Lion, Inc.   1982     23,000       62       124       62  
 
          3211 West Beverly St.   Staunton   VA     Food Lion, Inc.   1971     23,000       166       166       166  
 
    7/1/2013     1053 Mineral Springs Rd.   Paris   TN     The Kroger Company   1983     31,170       468       0       159  
 
          302 Coxcreek Pkwy.   Florence   AL     The Kroger Company   1983     42,130       660       312       223  
 
    10/31/2013     1084 East Second St.   Franklin   OH     Marsh Supermarkets, Inc.   1961/1978     29,119       112       158       111  
 
          130 Midland Ave.   Port Chester   NY     Pathmark Stores, Inc.   1982     59,000       1,114       1,196       458  
 
          5104 North Franklin Rd.   Lawrence   IN     Marsh Supermarkets, Inc.   1983     28,721       194       194       193  
 
          Brown Mill Rd./US 601   Concord   NC     Food Lion, Inc.   1983     32,259       196       164       197  
 
          Little Rock Rd./Tuckaseegee Rd.   Charlotte   NC     Food Lion, Inc.   1982/1997     33,640       98       152       98  
 
                                                               
2014
    2/28/2014     9580 Livingston Rd.   Oxon Hill   MD     GFS Realty, Inc. (Giant Food, Inc.)   1976     107,337       204       274       164  
 
    3/31/2014     1642 Williams Ave.   Grants Pass   OR     Safeway Stores, Inc.   1984     33,770       292       216       162  
 
          Bisbee Naco Hwy. & Hwy. 92   Bisbee   AZ     Safeway Stores, Inc.   1984     30,181       274       204       152  
 
          N.E.C. 45th St./Lee Blvd.   Lawton   OK     Associated Wholesale Grocers Inc.   1984     30,757       334       178       185  
 
          Grant Rd. & Craycroft Road   Tucson   AZ     Safeway Stores, Inc.   1983     37,268       364       304       202  
 
          224th St. & Meridan Ave.   Graham   WA     Safeway Stores, Inc.   1984     44,718       412       384       229  
 
          400 East Meridian Ave.   Milton   WA     Safeway Stores, Inc.   1984     44,718       476       418       264  
 
          228th Ave., Northeast   Redmond   WA     Safeway Stores, Inc.   1984     44,718       504       508       279  
 
          4512 North Market St.   Spokane   WA     Safeway Stores, Inc.   1984     38,905       374       264       208  
 
                                                               
2015
    1/25/2015     3711 Gateway Dr.   Eau Claire   WI     Kohl's Department Stores, Inc.   1994     76,164       468       462       487  
 
    1/31/2015     1700 State Route 160   Port Orchard   WA     Save-A-Lot, Ltd.   1983     16,037       72       72       97  
 
                                                               
2017
    3/31/2017     1610 South Westmoreland Ave.   Dallas   TX     Malone’s Food Stores   1960     68,024       358       478       376  
 
    4/30/2017     2401 Wooton Pkwy.   Rockville   MD     GFS Realty, Inc. (Giant Food, Inc.)   1977     51,682       114       152       92  
 
    11/30/2017     10340 U.S. 19   Port Richey   FL     Kingswere Furniture   1980     53,820       0       0       400  
 
                                                               
2018
    2/26/2018     4831 Whipple Ave., Northwest   Canton   OH     Best Buy Company, Inc.   1995     46,350       466       466       465  
 
          399 Peachwood Centre Dr.   Spartanburg   SC     Best Buy Company, Inc.   1996     45,800       396       396       395  
 
    8/31/2018     1025 West Lehigh Ave.   Philadelphia   PA     Citizens Bank of Pennsylvania   1922     3,800       148       66       72  
 
          1055 West Baltimore Pike   Lima   PA     Citizens Bank of Pennsylvania   1983     3,800       170       82       82  
 
          10650 Bustleton Ave.   Philadelphia   PA     Citizens Bank of Pennsylvania   1970     3,800       148       90       71  
 
          15 Newton – Richboro Rd.   Richboro   PA     Citizens Bank of Pennsylvania   1976     3,800       136       90       66  
 
          15 South 52nd St.   Philadelphia   PA     Citizens Bank of Pennsylvania   1921     3,800       186       88       90  
 
          2001-03 Broad St.   Philadelphia   PA     Citizens Bank of Pennsylvania   1920     3,800       198       102       96  
 
          2014 Cottman Ave.   Philadelphia   PA     Citizens Bank of Pennsylvania   1980     3,800       210       108       101  

Page 21 of 42


 

LEXINGTON REALTY TRUST
Property Leases and Vacancies — Consolidated Portfolio — 6/30/08
                                                                 
Year of   Date of                       Year           Annualized   Annualized   Fixed Rent at
Lease   Lease                       Built/Renovated/   Sq.Ft. Leased   Cash Rent   GAAP Rent   Next Option
Expiration   Expiration   Property Location   City   State   Note   Primary Tenant (Guarantor)   Expanded   or Available (1)   ($000) (2)   ($000) (3)   ($000) (4)
 
 
          25 East Main St.   Lansdale   PA     Citizens Bank of Pennsylvania   1966     3,800       156       72       75  
 
          363 West Lancaster Ave.   Wayne   PA     Citizens Bank of Pennsylvania   1983     3,800       200       132       97  
 
          4947 North Broad St.   Philadelphia   PA     Citizens Bank of Pennsylvania   1920     3,800       140       78       67  
 
          559 North Main St.   Doylestown   PA     Citizens Bank of Pennsylvania   1976     3,800       148       102       71  
 
          6201 North 5th St.   Philadelphia   PA     Citizens Bank of Pennsylvania   1975     3,800       44       34       21  
 
          7323-29 Frankford Ave.   Philadelphia   PA     Citizens Bank of Pennsylvania   1960     3,800       164       130       79  
 
    12/31/2018     1150 West Carl Sandburg Dr.   Galesburg   IL     Kmart Corporation   1992     94,970       110       328       0  
 
          12080 Carmel Mountain Rd.   San Diego   CA     Sears Holding Corporation   1993     107,210       124       752       0  
 
          21082 Pioneer Plaza Dr.   Watertown   NY     Kmart Corporation   1993     120,727       184       482       0  
 
          255 Northgate Dr.   Manteca   CA     Kmart Corporation   1993     107,489       196       556       0  
 
          5350 Leavitt Rd.   Lorain   OH     Kmart Corporation   1993     193,193       276       732       0  
 
          97 Seneca Trail   Fairlea   WV     Kmart Corporation   1993/1999     90,933       130       346       0  
 
                                                               
2021
    1/31/2021     3040 Josey Ln.   Carrollton   TX     Ong’s Family Inc.   1984     61,000       240       404       0  
 
                                                               
2028
    1/31/2028     2010 Apalachee Pkwy.   Tallahassee   FL     Kohl's Department Stores, Inc.   2007     102,381       400       420       484  
 
    8/31/2028     9803 Edmonds Way   Edmonds   WA   (8)   PCC Natural Markets   1981     34,459       0       0       0  
 
                                                               
NA
  NA     1700 State Route 160   Port Orchard   WA     (Available for Lease)   1983     11,931       0       0       0  
 
          3621 E Lincoln Way   Cheyenne   WY     (Available for Lease)   1981     31,420       0       0       0  
 
          5402 4th St.   Lubbock   TX     (Available for Lease)   1978     53,820       0       0       0  
 
          5544 Atlanta Hwy.   Montgomery   AL     (Available for Lease)   1980/2007     60,698       0       0       0  
 
          9400 South 755 East   Sandy   UT     (Available for Lease)   1981     41,612       0       0       0  
 
          Kipling St. & Bowles Ave.   Littleton   CO     (Available for Lease)   1981     29,360       0       0       0  
                                             
RETAIL TOTAL/WEIGHTED AVERAGE                     93.4% Leased         3,448,088       21,592       24,382          
                                             
 
                                                               
TOTAL CONSOLIDATED PORTFOLIO/WEIGHTED AVERAGE                     94.09% Leased         41,072,857       368,260       361,904          
                                             
Footnotes
 
 
(1)   Square foot leased or vacant includes those tenants with month-to-month leases.
 
(2)   Annualized cash rent is calculated as follows: six months rent obligation for the reported period, multiplied by 2.
 
(3)   Annualized GAAP base rent is calculated as follows: six months rent obligation for the reported period, multiplied by 2.
 
(4)   Rent at option rate listed for those lease contracts where a set rent in dollars is specified, as it relates to Fixed Rent at Next Option.
 
(5)   Lesser of the noted rent or a function of fair market value such as 100%, 95%, or 90%.
 
(6)   Greater of the noted rent or a function of fair market value such as 100%, 95%, or 90%.
 
(7)   Rents from tenants prior to expiration of lease, prior tenant has vacated.
 
(8)   Tenant occupies space, rent has not yet commenced.

Page 22 of 42


 

LEXINGTON REALTY TRUST
Property Leases and Vacancies — Net Lease Strategic Asset Fund Portfolio — 6/30/08
                                                                 
Year of   Date of                       Year           Annualized   Annualized   Fixed Rent at
Lease   Lease                       Built/Renovated/   Sq.Ft. Leased   Cash Rent   GAAP Rent   Next Option
Expiration   Expiration   Property Location   City   State   Note   Primary Tenant (Guarantor)   Expanded   or Available (1)   ($000) (2)   ($000) (3)   ($000) (4)
 
NET LEASE STRATEGIC ASSET FUND PROPERTIES
                             
2009
    9/30/2009     109 Stevens St.   Jacksonville   FL   (5)   Unisource Worldwide, Inc.   1959/1967     168,800       620       568       0  
 
                                                               
2010
    8/17/2010     904 Industrial Rd.   Marshall   MI     Tenneco Automotive Operating Company, Inc. (Tenneco, Inc.)   1968/1972     195,640       332       332       0  
 
    10/15/2010     601 & 701 Experian Pkwy.   Allen   TX     Experian Information Solutions, Inc. (TRW, Inc.)   1981/1983     292,700       278       1,936       0  
 
    10/31/2010     265 Lehigh St.   Allentown   PA     Wachovia Bank N.A.   1980     71,230       248       570       261  
 
          5201 West Barraque St.   Pine Bluff   AR     Entergy Services, Inc.   1980     27,189       192       192       192  
 
                                                               
2011
    5/31/2011     1200 Jupiter Rd.   Garland   TX     Raytheon Company   1980     278,759       268       358       1,588  
 
    7/15/2011     19019 North 59th Ave.   Glendale   AZ     Honeywell International, Inc.   1985/1997/2000     252,300       1,318       1,642       0  
 
                                                               
2012
    4/30/2012     3600 Army Post Rd.   Des Moines   IA   (6)   EDS Information Services, LLC (Electronic Data Systems Corporation)   2000     405,000       2,798       2,968       0  
 
    5/31/2012     101 Creger Dr.   Ft. Collins   CO     Lithia Motors   1982     10,000       274       236       0  
 
                                                               
2013
    5/31/2013     2401 Cherahala Blvd.   Knoxville   TN     Advance PCS, Inc.   2002     59,748       900       900       0  
 
    6/30/2013     420 Riverport Rd.   Kingsport   TN     American Electric Power   1981     42,770       470       306       310  
 
          8555 South River Pkwy.   Tempe   AZ   (6)   ASM Lithography, Inc. (ASM Lithography Holding NV)   1998     95,133       1,146       1,186       0  
 
    10/31/2013     3943 Denny Ave.   Pascagoula   MS     Northrop Grumman Systems Corporation   1995     94,841       704       680       0  
 
    12/31/2013     120 Southeast Parkway Dr.   Franklin   TN     Essex Group, Inc. (United Technologies Corporation)   1970     289,330       794       384       735  
 
                                                               
2014
    1/31/2014     1401 & 1501 Nolan Ryan Parkway   Arlington   TX     Siemens Dematic Postal Automation, L.P.   2003     236,547       1,282       1,410       0  
 
    4/30/2014     12000 & 12025 Tech Center Dr.   Livonia   MI   (6)   Kelsey-Hayes Company (TRW Automotive Inc.)   1987/1988/1990     180,230       1,928       2,074       0  
 
    6/30/2014     70 Mechanic St.   Foxboro   MA     Invensys Systems, Inc. (Siebe, Inc.)   1965/1967/1971     251,914       740       534       2,817  
 
    12/31/2014     324 Industrial Park Rd.   Franklin   NC   (5)   SKF USA, Inc.   1996     72,868       396       396       0  
 
                                                               
2015
    6/30/2015     1901 49th Ave.   Minneapolis   MN   (5)   Owens Corning Roofing and Asphalt, LLC   2003     18,620       578       578       0  
 
          2500 Patrick Henry Pkwy   McDonough   GA     Georgia Power Company   1999     111,911       1,452       1,536       0  
 
          2935 Van Vactor Dr.   Plymouth   IN     Bay Valley Foods, LLC   2000/2003     300,500       772       810       425  
 
          3711 San Gabriel   Mission   TX     Voicestream PCS II Corporation (T-Mobile USA, Inc.)   2003     75,016       900       1,020       0  
 
    9/27/2015     9110 Grogans Mill Rd.   Houston   TX     Baker Hughes, Inc.   1992     275,750       302       544       0  
 
    9/27/2015     2529 West Thorne Dr.   Houston   TX     Baker Hughes, Inc.   1982/1999     65,500       854       462       0  
 
                                                               
2016
    1/31/2016     1600 Eberhardt Rd.   Temple   TX     Nextel of Texas   2001     108,800       1,522       1,616       0  
 
    5/14/2016     6455 State Hwy 303 Northeast   Bremerton   WA     Nextel West Corporation   2002     60,200       1,084       1,162       0  
 
    9/30/2016     1440 East 15th St.   Tucson   AZ     Cox Communications, Inc.   1988     28,591       480       528       0  
 
    11/30/2016     736 Addison Rd.   Erwin   NY   (6)   Corning, Inc.   2006     408,000       1,126       1,224       0  
 
                                                               
2017
    12/31/2017     11411 North Kelly Avenue   Oklahoma City   OK     American Golf Corporation   1991/1996     13,924       474       478       0  
 
                                                               
2018
    8/31/2018     3500 North Loop Rd.   McDonough   GA     Litton Loan Servicing, L.P.   2007     62,218       1,092       1,092       0  
 
                                                               
2019
    1/31/2019     2999 Southwest 6th St.   Redmond   OR     Voice Stream PCS I, LLC (T-Mobile USA, Inc.)   2004     77,484       1,436       1,572       0  
 
    6/28/2019     3265 East Goldstone Dr.   Meridian   ID   (6)   Voicestream PCS II Corporation (T-Mobile USA, Inc.)   2004     77,484       1,214       1,364       0  
 
    10/31/2019     17191 St. Luke's Way   The Woodlands   TX     Montgomery County Management Company, LLC   2004     41,000       718       922       0  
 
          9601 Renner Blvd.   Lenexa   KS   (6)   Voicestream PCS II Corporation (T-Mobile USA, Inc.)   2004     77,484       1,244       1,392       0  

Page 23 of 42


 

LEXINGTON REALTY TRUST
Property Leases and Vacancies — Net Lease Strategic Asset Fund Portfolio — 6/30/08
                                                                 
Year of   Date of                       Year           Annualized   Annualized   Fixed Rent at
Lease   Lease                       Built/Renovated/   Sq.Ft. Leased   Cash Rent   GAAP Rent   Next Option
Expiration   Expiration   Property Location   City   State   Note   Primary Tenant (Guarantor)   Expanded   or Available (1)   ($000) (2)   ($000) (3)   ($000) (4)
2020
    5/31/2020     359 Gateway Dr.   Lavonia   GA     TI Group Automotive Systems, LLC (TI Automotive Ltd.)   2005     133,221       1,200       1,200       0  
 
    6/30/2020     10419 North 30th St.   Tampa   FL     Time Customer Service, Inc.   1986     132,981       658       770       0  
 
    8/31/2020     First Park Dr.   Oakland   ME   (6)   Omnipoint Holdings, Inc. (T-Mobile USA, Inc.)   2005     78,610       1,232       1,150       0  
 
    11/30/2020     11555 University Blvd.   Sugar Land   TX     KS Management Services, LLP (St. Luke’s Episcopal Health System Corporation)   2005     72,683       598       668       0  
2021
    10/25/2021     6938 Elm Valley Dr.   Kalamazoo   MI     Dana Commercial Vehicle Products, LLC (Dana Limited)   1999/2004     150,945       990       1,036       0  
 
                                                               
2025
    7/14/2025     590 Ecology Ln.   Chester   SC     Owens Corning, Inc.   2001/2005     420,597       2,186       2,168       1,678  
 
                                                               
2026
    8/31/2026     25500 State Hwy 249   Tomball   TX     Parkway Chevrolet, Inc. (R. Durdin, J. Durdin)   2005     77,076       1,250       1,506       0  
 
                                                               
2027
    4/30/2027     2424 Alpine Rd.   Eau Claire   WI   (6)   Silver Spring Gardens, Inc. (Huntsinger Farms, Inc.)   1993/2004     159,000       930       1,172       0  
                                     
    NET LEASE STRATEGIC ASSET FUND TOTAL/WEIGHTED AVERAGE             100.0% Leased         6,052,594       38,980       42,642          
                                     
 
                                                               
Footnotes
 
 
(1)   Square foot leased or vacant includes those tenants with month-to-month leases.
 
(2)   Annualized cash rent is calculated as follows: six months rent obligation for the reported period, multiplied by 2.
 
(3)   Annualized GAAP base rent is calculated as follows: six months rent obligation for the reported period, multiplied by 2.
 
(4)   Rent at option rate listed for those lease contracts where a set rent in dollars is specified, as it relates to Fixed Rent at Next Option.
 
(5)   Lesser of the noted rent or a function of fair market value such as 100%, 95%, or 90%.
 
(6)   Greater of the noted rent or a function of fair market value such as 100%, 95%, or 90%.

Page 24 of 42


 

LEXINGTON REALTY TRUST
2008 Second Quarter Disposition Summary
DISPOSITIONS
                                                 
                    Property   Gross Sale Price     Gain Recognized         Month of  
        Tenants/Guarantors   Location   Type   ($000)     ($000)     Cash Cap Rate   Disposition  
  1    
Pathmark Stores, Inc.
  Carteret   NJ   Office   $ 14,323     $ 72          7.0% (1)   June
  2    
Pathmark Stores, Inc.
  Garwood   NJ   Retail   $ 4,785     $ 781     6.7%   April
  3    
Pathmark Stores, Inc.
  Philadelphia   PA   Retail   $ 6,000     $ 783     6.7%   April
  4    
The Kroger Company
  Memphis   TN   Office   $ 5,985     $ 2,283     9.7%   June
  5    
Vacant
  Walnut Creek   CA   Office   $ 15,000     $ 6           N/A (2)   May
                                   
  5    
TOTAL DISPOSITIONS
              $ 46,093     $ 3,925     7.4%        
                                   
Footnotes
 
(1)   Calculated based upon 2011 step down rent.
 
(2)   N/A — not applicable as property is vacant.
Page 25 of 42

 


 

LEXINGTON REALTY TRUST
2008 Second Quarter Dispositions to Net Lease Strategic Asset Fund L.P.
DISPOSITIONS TO NET LEASE STRATEGIC ASSETS FUND L.P.        
                         
                        Month of
        Tenants/Guarantors   Location   Property Type   Disposition
  1    
Baker Hughes, Inc.
  Houston   TX   Industrial   May
  2    
Raytheon Company
  Garland   TX   Office   May
                 
  2    
TOTAL DISPOSITIONS TO NET LEASE STRATEGIC ASSETS FUND L.P.
               
                 
Page 26 of 42

 


 

LEXINGTON REALTY TRUST
2008 Second Quarter Leasing Summary
NEW LEASES
                                                                 
                                    New Cash Rent     Prior Cash Rent     New GAAP Rent     Prior GAAP Rent  
                    Property   Lease Expiration           Per Annum     Per Annum     Per Annum     Per Annum  
        Tenants/Guarantors   Location   Type   Date   Sq. Ft.     ($000)     ($000)     ($000)     ($000)  
  1    
Angel M.L. You (1)
  Honolulu   HI   Office   05/2011     423     $ 11     $ 13     $ 11     $ 13  
  2    
Baltimore Area Convention and Visitors Assoc., Inc.
  Baltimore   MD   Office   09/2019     14,629     $ 351     $ 349     $ 351     $ 349  
  3    
BI-LO, LLC
  Chattanooga   TN   Retail   07/2010     42,130     $ 130     $ 708     $ 130     $ 347  
  4    
FAQ Hawaii, Inc. (1)(2)
  Honolulu   HI   Office   05/2008     309     $ 6       N/A     $ 6       N/A  
  5    
Henderson & Hundley, P.C.
  Decatur   GA   Office   07/2013     2,832     $ 62     $ 66     $ 62     $ 61  
  6    
Internal Revenue Service
  Beaumont   TX   Office   07/2009     10,960     $ 240       N/A     $ 240       N/A  
  7    
Jennings Pacific, LLC (1)
  Honolulu   HI   Office   02/2009     310     $ 5     $ 8     $ 5     $ 8  
  8    
Mighty Dollar, LLC
  Thomasville   NC   Retail   09/2018     23,767     $ 69     $ 106     $ 69     $ 106  
  9    
Morgan & Woodling
  Decatur   GA   Office   06/2013     1,078     $ 24     $ 25     $ 24     $ 23  
  10    
Reckitt Benckiser, Inc.
  Parsippany   NJ   Office   01/2016     163,386     $ 4,616     $ 4,328     $ 4,824     $ 4,244  
  11    
The Center Club
  Baltimore   MD   Office   09/2019     31,293     $ 612     $ 760     $ 612     $ 760  
  12    
Tina Marie Williams, dba Studio VIP (1)
  Honolulu   HI   Office   08/2012     324     $ 6     $ 5     $ 6     $ 5  
  13    
US Government
  Herndon   VA   Office   05/2018     159,664     $ 2,953     $ 2,870     $ 3,386     $ 2,476  
  14    
US Navy
  Beaumont   TX   Office   12/2008     1,982     $ 29     $ 29     $ 29     $ 28  
                                       
  14    
TOTAL NEW LEASES
                    453,087     $ 9,114     $ 9,267     $ 9,755     $ 8,420  
                                         
Footnotes
 
(1)   Prior cash rent was based on a gross lease. Lease has been converted to a net lease.
 
(2)   Two month lease. Tenant pays $463.50/month.
Page 27 of 42

 


 

LEXINGTON REALTY TRUST
2008 Second Quarter Leasing Summary
LEASE EXTENSIONS
                                                                                 
                                                    New Cash Rent     Prior Cash Rent     New GAAP Rent     Prior GAAP Rent  
                            Property     Lease Expiration             Per Annum     Per Annum     Per Annum     Per Annum  
        Tenants/Guarantors   Location             Type     Date     Sq. Ft.     ($000)     ($000)     ($000)     ($000)  
  1    
Amy K.S. Fung, dba Hong Kong Fashion
  Honolulu   HI   Retail     03/2010       347     $ 5     $ 7     $ 5     $ 7  
  2    
Associated Wholesale Grocers, Inc.
  Lawton   OK   Retail     03/2014       30,757     $ 185     $ 334     $ 207     $ 204  
  3    
Compass Bank
  Beaumont   TX   Office     12/2014       49,639     $ 683     $ 683     $ 683     $ 683  
  4    
Diabetech, LP
  Dallas   TX   Office     06/2009       424     $ 6     $ 5     $ 6     $ 5  
  5    
Donna Reed, dba Donna’s Tattoo Shop
  Honolulu   HI   Retail     02/2010       285     $ 5     $ 5     $ 5     $ 5  
  6    
Doris ABE, dba Tropic Beauty Salon
  Honolulu   HI   Retail     06/2011       303     $ 4     $ 5     $ 4     $ 5  
  7    
Fisher Hawaii, Inc.
  Honolulu   HI   Retail     01/2013       8,216     $ 157     $ 135     $ 157     $ 135  
  8    
Fisher Hawaii, Inc.
  Honolulu   HI   Retail     01/2013       1,682     $ 4     $ 3     $ 4     $ 3  
  9    
Harvard Vanguard Medical Assoc.
  Boston   MA   Office     12/2022       52,337     $ 1,532     $ 1,350     $ 1,682     $ 1,074  
  10    
Hazel M. Yoichisako, dba Miki’s Beauty Shop
  Honolulu   HI   Retail     05/2010       326     $ 4     $ 5     $ 4     $ 5  
  11    
James K.Y. Lee and Li-Ping Lee
  Honolulu   HI   Retail     03/2012       857     $ 13     $ 18     $ 13     $ 18  
  12    
Jane Shigemoto, dba Star Beauty Shop
  Honolulu   HI   Retail     05/2009       663     $ 8     $ 10     $ 8     $ 10  
  13    
Joan M. Nishiguchi, dba Joan’s Beauty Shop
  Honolulu   HI   Retail     05/2011       276     $ 3     $ 4     $ 3     $ 4  
  14    
JP Morgan Chase Bank
  Lake Mary   FL   Office     09/2015       125,920     $ 1,789     $ 3,047     $ 2,096     $ 2,593  
  15    
JP Morgan Chase Bank
  Lake Mary   FL   Office     09/2015       125,155     $ 1,715     $ 3,148     $ 2,053     $ 2,653  
  16    
League of Women Voters of Hawaii
  Honolulu   HI   Office     05/2011       929     $ 11     $ 16     $ 11     $ 16  
  17    
Leetex Construction
  Dallas   TX   Office     07/2011       1,487     $ 21     $ 18     $ 21     $ 18  
  18    
Owens Corning Insulating Systems, LLC
  Hebron   OH   Industrial     09/2008       102,960     $ 278     $ 278     $ 278     $ 278  
  19    
Royal Appliance Manufacturing Company
  Glenwillow   OH   Industrial     07/2025       458,000     $ 1,944     $ 1,944     $ 2,225     $ 2,153  
  20    
Safeway Stores, Inc.
  Bisbee   AZ   Retail     03/2014       30,181     $ 152     $ 273     $ 203     $ 203  
  21    
Safeway Stores, Inc.
  Spokane   WA   Retail     03/2014       38,905     $ 208     $ 375     $ 264     $ 264  
  22    
Safeway Stores, Inc.
  Tucson   AZ   Retail     03/2014       37,268     $ 202     $ 364     $ 304     $ 304  
  23    
Sharon Teruya Cargo, dba H&S Beauty Shoppe
  Honolulu   HI   Retail     05/2011       285     $ 4     $ 5     $ 4     $ 5  
                                                               
  23    
TOTAL LEASE EXTENSIONS
                                    1,067,202     $ 8,933     $ 12,032     $ 10,240     $ 10,645  
                                                               
       
 
                                                                       
                                                               
  37    
TOTAL NEW AND RENEWED LEASES
                                    1,520,289     $ 18,047     $ 21,299     $ 19,995     $ 19,065  
                                                               

Page 28 of 42


 

LEXINGTON REALTY TRUST
Lease Rollover Schedule by Property Type- Cash Basis
6/30/2008
                                                                         
    Office   Industrial   Retail
    Net Rentable   Cash Rental   Net Rent   Net Rentable   Cash Rental   Net Rent   Net Rentable   Cash Rental   Net Rent
Year   Area   Revenue ($000)   PSF   Area   Revenue ($000)   PSF   Area   Revenue ($000)   PSF
 
2008
    536,998     $ 17,840     $ 33.22       471,501     $ 4,018     $ 8.52       163,360     $ 1,258     $ 7.70  
2009
    1,824,042     $ 26,360     $ 14.45       453,260     $ 1,150     $ 2.54       337,265     $ 3,742     $ 11.10  
2010
    1,103,457     $ 19,296     $ 17.49       1,723,112     $ 5,252     $ 3.05       40,800     $ 186     $ 4.56  
2011
    536,022     $ 10,956     $ 20.44       1,305,135     $ 4,676     $ 3.58       257,347     $ 1,376     $ 5.35  
2012
    1,559,591     $ 22,028     $ 14.12       2,450,703     $ 7,936     $ 3.24       317,425     $ 2,850     $ 8.98  
2013
    1,868,329     $ 27,254     $ 14.59       281,086     $ 4,040     $ 14.37       371,039     $ 3,364     $ 9.07  
2014
    2,182,163     $ 38,812     $ 17.79       882,292     $ 2,206     $ 2.50       412,372     $ 3,234     $ 7.84  
2015
    1,817,531     $ 26,416     $ 14.53       355,150     $ 1,656     $ 4.66       92,201     $ 540     $ 5.86  
2016
    667,239     $ 9,330     $ 13.98       1,296,650     $ 5,760     $ 4.44           $     $  
2017
    265,175     $ 4,300     $ 16.22       1,652,811     $ 6,548     $ 3.96       173,526     $ 472     $ 2.72  
2018
    735,272     $ 12,496     $ 17.00       994,553     $ 2,250     $ 2.26       856,072     $ 3,930     $ 4.59  
2019
    1,417,767     $ 18,412     $ 12.99       649,250     $ 2,290     $ 3.53           $     $  
2020
    186,865     $ 2,924     $ 15.65       1,206,206     $ 10,088     $ 8.36           $     $  
2021
    454,860     $ 7,682     $ 16.89       2,393,339     $ 7,236     $ 3.02       61,000     $ 240     $ 3.93  
2022
    52,337     $ 1,558     $ 29.77           $     $           $     $  
2023
    247,254     $ 1,036     $ 4.19           $     $           $     $  
2024
        $     $           $     $           $     $  
2025
    145,200     $ 2,294     $ 15.80       2,138,214     $ 9,560     $ 4.47           $     $  
2026
        $     $       646,000     $ 1,938     $ 3.00           $     $  
2027
        $     $           $     $           $     $  
2028
        $     $           $     $       136,840     $ 400     $ 2.92  
     
Total/Weighted Average (1)
    15,600,102     $ 248,994     $ 15.96       18,899,262     $ 76,604     $ 4.05       3,219,247     $ 21,592     $ 6.71  
     
Footnotes
 
(1)   Total shown may differ from detailed amounts due to rounding, and does not include multi-tenant leases.

Page 29 of 42


 

LEXINGTON REALTY TRUST
Lease Rollover Schedule — GAAP Basis
6/30/2008
                         
            Total    
    Number of   Annualized   Percentage of Total
    Leases   GAAP Base   Annualized GAAP
Year   Expiring   Rent ($000)   Base Rent
 
2008
    10     $ 17,800       5.24 %
2009
    25     $ 29,016       8.54 %
2010
    15     $ 24,846       7.31 %
2011
    16     $ 17,216       5.07 %
2012
    30     $ 33,324       9.81 %
2013
    31     $ 35,314       10.39 %
2014
    27     $ 42,426       12.48 %
2015
    14     $ 28,084       8.26 %
2016
    12     $ 15,414       4.54 %
2017
    11     $ 12,078       3.55 %
2018
    29     $ 19,186       5.65 %
2019
    7     $ 21,630       6.37 %
2020
    6     $ 8,132       2.39 %
2021
    9     $ 16,264       4.79 %
2022
    1     $ 1,594       0.47 %
2023
    1     $ 2,814       0.83 %
2024
        $       0.00 %
2025
    8     $ 12,098       3.56 %
2026
    1     $ 2,166       0.64 %
2027
        $       0.00 %
2028
    2     $ 420       0.12 %
     
Total (1)
    255     $ 339,822       100.0 %
     
Footnotes
 
 
(1)   Total shown may differ from detailed amounts due to rounding, and does not include multi-tenant leases.

Page 30 of 42


 

LEXINGTON REALTY TRUST
Joint Venture Investments — Proportionate Share
Six Months Ended June 30, 2008
($000)
         
Joint Venture Operations- Real Estate
       
EBITDA
  $ 14,802  
 
     
Interest expense
  $ 4,900  
 
     
 
       
Joint Venture Operations- Debt Platform
       
Interest income
  $ 18,604  
Interest expense
    (9,443 )
Other expenses, net
    (883 )
Gain- debt extinguishment
    3,851  
Impairment charge
    (29,008 )
 
     
Net loss
  $ (16,879 )
 
     

Page 31 of 42


 

LEXINGTON REALTY TRUST
Selected Balance Sheet Account Detail

As of June 30, 2008
($000)
         
Investments in and advances to non-consolidated entities
  $ 227,466  
 
     
 
       
Lexington’s “Investments in and advances to non-consolidated entities” line item includes investments in entities which invest in real estate debt securities and net leased properties. A summary is as follows:
       
 
       
Investment in debt platform
  $ 143,722  
Investment in net lease partnerships
    83,744  
 
       
Other assets
  $ 69,349  
 
     
 
       
The components of other assets are:
       
 
       
Due from lender/trustee
  $ 26,893  
CIP/Deposits
    6,976  
Investments
    15,711  
Equipment
    4,960  
Prepaids
    7,173  
Other receivables
    7,471  
Other
    165  
 
       
Accounts payable and other liabilities
  $ 42,340  
 
     
 
       
The components of accounts payable and other liabilities are:
       
 
       
Accounts payable and accrued expenses
  $ 12,453  
CIP accruals and other
    12,665  
Taxes
    514  
Deferred lease costs
    1,320  
Subordinated notes
    3,039  
Deposits
    1,386  
Escrows
    3,329  
Transaction costs
    5,119  
Derivative liability
    2,515  

Page 32 of 42


 

LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
6/30/2008
                                                 
                                    Current    
                                    Estimated   Balloon
            Debt Balance   Interest Rate           Annual Debt   Payment
     Property   Footnotes   ($000)   (%)   Maturity (a)   Service ($000) (d)   ($000)
 
Canton, OH
          $ 2,944       7.150 %     08/2008     $ 26     $ 2,936  
Spartanburg, SC
            2,445       7.150 %     08/2008       22       2,438  
Irvine, CA
            1,391       9.339 %     09/2008       1,413        
Owensboro, KY
            3,171       7.940 %     12/2008       1,680        
Columbia, MD
            833       8.625 %     12/2008       222       719  
Clinton, CT
            490       7.940 %     12/2008       519        
Long Beach, CA
            10,778       6.250 %     01/2009       11,286        
Long Beach, CA
            3,994       6.160 %     01/2009       4,180        
Florence, SC
            8,570       7.500 %     02/2009       507       8,443  
Canton, OH
            250       9.490 %     02/2009       259        
Baton Rouge, LA
            1,535       7.375 %     03/2009       139       1,478  
Bristol, PA
            5,352       7.250 %     04/2009       428       5,228  
Henderson, NC
            3,947       7.390 %     05/2009       417       3,854  
Westland, MI
            796       10.500 %     09/2009       683        
Houston, TX
    (b )     19,266       5.810 %     10/2009       2,032       18,229  
High Point, NC
            8,029       5.750 %     10/2009       695       7,741  
Salt Lake City, UT
            3,428       7.610 %     10/2009       2,901        
San Francisco, CA
            21,832       3.893 %     12/2009       2,110       20,000  
Pleasanton, CA
            4,249       10.250 %     12/2009       727       3,808  
Richmond, VA
            15,635       8.100 %     02/2010       1,511       15,257  
Fishers, IN
    (b )     14,042       5.880 %     04/2010       1,499       12,960  
Hampton, VA
            6,939       8.270 %     04/2010       677       6,758  
Hampton, VA
            4,255       8.260 %     04/2010       415       4,144  
Lorain, OH
    (b )     1,988       5.540 %     07/2010       873        
Manteca, CA
    (b )     1,405       5.540 %     07/2010       617        
Watertown, NY
    (b )     1,321       5.540 %     07/2010       580        
Lewisburg, WV
    (b )     928       5.540 %     07/2010       407        
San Diego, CA
    (b )     895       5.540 %     07/2010       393        
Galesburg, IL
    (b )     788       5.540 %     07/2010       346        
Tampa, FL
            5,699       6.880 %     08/2010       485       5,495  
Irving, TX
    (b )     26,063       5.880 %     10/2010       2,432       24,454  
Lake Mary, FL
    (b )     12,917       5.880 %     10/2010       1,181       12,118  
Lake Mary, FL
    (b )     12,878       5.880 %     10/2010       1,178       12,082  
Herndon, VA
            17,927       8.180 %     12/2010       1,723       17,301  
Parsippany, NJ
    (b )     39,623       5.860 %     03/2011       3,472       37,047  
Renswoude, NA
            41,547       5.305 %     04/2011       2,949       39,414  
Wallingford, CT
            3,344       4.926 %     05/2011       221       3,187  
Auburn Hills, MI
            6,516       7.010 %     06/2011       637       5,918  
Plymouth, MI
            4,402       7.960 %     07/2011       421       4,171  
Winchester, VA
    (b )     10,492       5.860 %     08/2011       908       9,675  
New Kingston, PA
            6,707       7.790 %     01/2012       678       6,101  
Mechanicsburg, PA
            4,951       7.780 %     01/2012       500       4,503  
New Kingston, PA
            3,196       7.780 %     01/2012       323       2,906  
Milford, OH
    (b )     15,772       5.860 %     02/2012       1,822       12,686  
Lake Forest, CA
            10,280       7.260 %     02/2012       901       9,708  
Fort Worth, TX
    (b )     18,857       5.510 %     05/2012       1,280       17,823  

Page 33 of 42


 

LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
6/30/2008
                                                 
                                    Current    
                                    Estimated   Balloon
            Debt Balance   Interest Rate           Annual Debt   Payment
     Property   Footnotes   ($000)   (%)   Maturity (a)   Service ($000) (d)   ($000)
 
Memphis, TN
            17,298       5.247 %     05/2012       1,181       16,222  
Raleigh, NC
    (b )     12,622       5.860 %     05/2012       647       12,543  
Lakewood, CO
            8,440       5.097 %     05/2012       566       7,890  
Farmington Hills, MI
    (b )     19,431       5.860 %     09/2012       1,500       17,724  
Laurens, SC
    (b )     16,062       5.870 %     09/2012       1,396       14,022  
Temperance, MI
    (b )     10,767       5.870 %     09/2012       936       9,400  
Baton Rouge, LA
    (b )     6,415       5.520 %     10/2012       443       5,943  
San Antonio, TX
            28,464       6.080 %     10/2012       2,260       26,025  
Plymouth, MI
    (b )     11,685       5.860 %     12/2012       1,026       10,026  
Colorado Springs, CO
    (b )     11,283       5.870 %     12/2012       887       10,272  
Fort Mill, SC
            10,814       6.000 %     01/2013       839       9,904  
Centennial, CO
    (b )     15,170       5.550 %     02/2013       1,177       13,555  
Los Angeles, CA
    (b )     77,672       5.860 %     05/2013       5,361       73,071  
Atlanta, GA
            43,900       5.268 %     05/2013       3,004       40,356  
Dallas, TX
    (b )     39,317       5.550 %     05/2013       2,702       36,455  
Houston, TX
            17,132       5.218 %     05/2013       1,166       15,737  
Southington, CT
            13,352       5.018 %     05/2013       890       12,228  
Indianapolis, IN
            9,348       5.168 %     05/2013       633       8,580  
Fort Meyers, FL
            8,912       5.268 %     05/2013       476       8,550  
Phoenix, AZ
            18,631       6.270 %     09/2013       1,527       16,490  
Foxboro, MA
    (b )     16,290       6.000 %     01/2014       3,270        
Moody, AL
            7,177       4.978 %     01/2014       493       6,350  
Logan Township, NJ
    (b )     7,282       5.870 %     04/2014       482       6,784  
Clive, IA
            5,740       5.139 %     05/2014       387       5,151  
Fort Mill, SC
            20,104       5.373 %     05/2014       1,364       18,311  
Philadelphia, PA
            48,388       5.060 %     07/2014       3,178       43,547  
Eau Claire, WI
            1,488       8.000 %     07/2014       313        
3 Properties
    (i )     103,511       6.150 %     09/2014       6,366       103,511  
Issaquah, WA
    (b )     31,664       5.890 %     12/2014       1,663       30,388  
Canonsburg, PA
    (b )     9,072       5.550 %     12/2014       489       9,095  
Chicago, IL
    (b )     29,029       5.870 %     01/2015       1,548       29,900  
Carrollton, TX
            13,809       5.530 %     01/2015       993       12,022  
Herndon, VA
    (b )     11,840       5.870 %     04/2015       888       10,359  
Richmond, VA
    (b )     19,503       5.510 %     05/2015       1,026       18,292  
Houston, TX
            16,464       5.160 %     05/2015       1,114       14,408  
Rockaway, NJ
            14,900       5.292 %     05/2015       799       14,900  
Houston, TX
            12,858       5.210 %     05/2015       874       11,265  
Fishers, IN
            12,801       5.160 %     05/2015       865       11,188  
San Antonio, TX
            12,690       5.340 %     05/2015       875       11,149  
Atlanta, GA
            11,325       5.260 %     05/2015       604       10,502  
Los Angeles, CA
            11,149       5.110 %     05/2015       750       9,760  
Richmond, VA
            10,310       5.310 %     05/2015       708       9,055  
Harrisburg, PA
            8,900       5.110 %     05/2015       599       7,780  
Knoxville, TN
            7,581       5.310 %     05/2015       520       6,658  
Tulsa, OK
            7,451       5.060 %     05/2015       499       6,517  
Carrollton, TX
    (b )     20,278       5.870 %     07/2015       1,272       18,677  

Page 34 of 42


 

LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
6/30/2008
                                                 
                                    Current    
                                    Estimated   Balloon
            Debt Balance   Interest Rate           Annual Debt   Payment
     Property   Footnotes   ($000)   (%)   Maturity (a)   Service ($000) (d)   ($000)
 
Elizabethtown, KY
            15,664       4.990 %     07/2015       1,068       13,648  
Hopkinsville, KY
            9,181       4.990 %     07/2015       626       7,999  
Dry Ridge, KY
            6,815       4.990 %     07/2015       506       6,238  
Owensboro, KY
            6,074       4.990 %     07/2015       452       5,568  
Elizabethtown, KY
            2,955       4.990 %     07/2015       201       2,574  
Houston, TX
    (b )     57,084       6.250 %     09/2015       8,323       18,318  
Sugar Land, TX
    (b )     14,765       6.250 %     09/2015       2,124       6,286  
Danville, IL
            6,091       9.000 %     01/2016       692       4,578  
Bridgewater, NJ
            14,805       5.732 %     03/2016       849       13,751  
Omaha, NE
            8,741       5.610 %     04/2016       621       7,560  
Tempe, AZ
            8,255       5.610 %     04/2016       586       7,140  
Lisle, IL
            10,441       6.500 %     06/2016       793       9,280  
Dallas, TX
    (b )     18,553       5.870 %     07/2016       1,136       18,365  
Rochester, NY
            18,800       6.210 %     08/2016       1,369       16,602  
Statesville, NC
            14,100       6.210 %     08/2016       1,026       12,451  
Rockford, IL
            6,900       6.210 %     08/2016       501       6,093  
Glenwillow, OH
            17,000       6.130 %     09/2016       1,195       14,987  
Memphis, TN
            3,951       5.710 %     01/2017       253       3,484  
Orlando, FL
            9,975       5.722 %     02/2017       579       9,309  
Coppell, TX
            14,400       5.710 %     06/2017       834       14,400  
Dubuque, IA
            10,521       5.402 %     06/2017       733       8,725  
Shreveport, LA
            19,000       5.690 %     07/2017       1,096       19,000  
McDonough, GA
            23,000       6.110 %     11/2017       1,425       21,651  
Lorain, OH
    (b )     1,275       7.750 %     07/2018       108        
Manteca, CA
    (b )     901       7.750 %     07/2018       77        
Watertown, NY
    (b )     847       7.750 %     07/2018       72        
Lewisburg, WV
    (b )     595       7.750 %     07/2018       51        
San Diego, CA
    (b )     574       7.750 %     07/2018       49        
Galesburg, IL
    (b )     506       7.750 %     07/2018       43        
Overland Park, KS
    (b )     37,471       5.911 %     05/2019       2,295       31,819  
Kansas City, MO
    (b )     17,878       5.900 %     05/2019       1,095       15,182  
Streetsboro, OH
    (b )     19,488       5.900 %     09/2019       1,304       16,338  
Boca Raton, FL
            20,400       6.470 %     02/2020       1,338       18,383  
Wall Township, NJ
    (b )     29,226       6.250 %     01/2021       2,496        
Hilliard, OH
            28,960       5.907 %     02/2021       1,734       27,483  
Charleston, SC
            7,350       5.850 %     02/2021       436       6,632  
Durham, NH
    (b )     19,271       6.750 %     03/2021       1,696        
Antioch, TN
    (b )     14,456       5.630 %     10/2021       1,580       774  
Whippany, NJ
            16,486       6.298 %     11/2021       1,344       10,400  
Dillon, SC
            22,725       5.974 %     02/2022       1,832       13,269  
 
                                               
 
                                               
Subtotal/Wtg. Avg./Years Remaining (l)
            1,816,466       5.895 %     6.1       163,769       1,517,431  
 
                                               

Page 35 of 42


 

LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
6/30/2008
                                                 
                                    Current    
                                    Estimated   Balloon
            Debt Balance   Interest Rate           Annual Debt   Payment
     Property   Footnotes   ($000)   (%)   Maturity (a)   Service ($000) (d)   ($000)
 
Corporate
                                               
Credit Facility
    (c )                 06/2009              
Term Loan
    (f )(j)     202,419       3.050 %     06/2009       6,260       202,419  
Exchangeable Notes
    (e )     325,000       5.450 %     01/2012       17,713       325,000  
Term Loan
    (h )(j)(k)     42,196       5.520 %     03/2013       2,362       42,196  
Term Loan
    (h )(k)     25,000       5.520 %     03/2013       1,399       25,000  
Trust Preferred Notes
    (g )     129,120       6.804 %     04/2037       8,785       129,120  
             
 
                                               
Subtotal/Wtg. Avg./Years Remaining (l)
            723,735       5.027 %     7.4       36,519       723,735  
             
 
                                               
Total/Wtg. Avg./Years Remaining (l)
          $ 2,540,201       5.648 %     6.5     $ 200,288     $ 2,241,166  
             
Footnotes
 
 
(a)    Subtotal and total based on weighted average term to maturity shown in years based on debt balance.
 
(b)    Debt balances based upon imputed interest rates.
 
(c)    Floating rate debt 30/60/90 day LIBOR plus 120 to 170 bps.  
 
(d)    Remaining payments for debt with less than 12 months to maturity, all others are debt service for next 12 months.  
 
(e)    Holders have the right to put notes to the Company commencing 2012 and every five years thereafter. Notes mature in 2027.  
 
(f)     Floating rate debt 30 day LIBOR plus 60 bps.  
 
(g)    Rate fixed through April 2017, thereafter LIBOR plus 170 bps.  
 
(h)    Rate is swapped to fixed rate through maturity.  
 
(i)    Debt on three cross-collateralized properties located in Nevada, Indiana, and Tennessee.  
 
(j)    An aggregate of $5,611 of these loans are included in discontinued operations.  
 
(k)    Represents full payable of loans, discount of $5,066 excluded from balance.  
 
(l)    Total shown may differ from detailed amounts due to rounding.  

Page 36 of 42


 

LEXINGTON REALTY TRUST
Non- Consolidated Investments: Mortgages & Notes Payable
6/30/2008
                                                                 
                                            Current            
                                            Estimated            
            Debt   LXP Proportionate                   Annual Debt           Proportionate
            Balance   Proportionate   Interest           Service   Balloon   Share Balloon
  Joint Venture   Footnotes   ($000)   Share ($000)   Rate (%)   Maturity   ($000) (10)   Payment ($000)   Payment ($000)
 
Net Lease Strategic
          $ 10,370     $ 4,986       7.800 %     04/2009     $ 826     $ 10,236     $ 4,921  
Dallas Commerce
            9,153       2,371       6.680 %     06/2009       9,614              
BCBS LLC
            23,055       9,222       7.850 %     10/2009       2,196       22,586       9,034  
Net Lease Strategic
            7,883       3,790       6.930 %     08/2010       674       7,603       3,656  
Harpard
            1,292       351       9.875 %     01/2011       569              
Net Lease Strategic
            2,226       1,070       7.500 %     01/2011       226       2,076       998  
Net Lease Strategic
            13,981       6,722       7.400 %     04/2011       1,258       13,365       6,426  
Net Lease Strategic
            30,582       14,704       5.126 %     05/2011       1,593       30,582       14,704  
Taber
            806       219       10.125 %     06/2011       313              
Jayal
            1,127       335       11.500 %     03/2012       379              
Net Lease Strategic
            22,761       10,943       5.147 %     05/2012       1,188       22,153       10,651  
Net Lease Strategic
            11,605       5,580       7.670 %     01/2013       2,894              
Net Lease Strategic
            13,235       6,363       5.148 %     05/2013       894       12,144       5,839  
Net Lease Strategic
            4,977       2,393       5.950 %     09/2013       381       4,496       2,162  
Net Lease Strategic
            20,746       9,975       5.810 %     02/2014       1,551       18,588       8,937  
Net Lease Strategic
            9,530       4,582       5.616 %     04/2014       697       8,484       4,079  
Net Lease Strategic
            1,386       666       8.500 %     04/2015       271              
Net Lease Strategic
            17,119       8,231       5.411 %     05/2015       1,189       15,087       7,254  
Net Lease Strategic
— Oklahoma TIC
            14,749       2,836       5.240 %     05/2015       784       13,673       2,584  
Net Lease Strategic
            12,675       6,094       5.212 %     06/2015       781       11,349       5,457  
Net Lease Strategic
            6,204       2,983       5.783 %     06/2015       462       5,371       2,582  
Net Lease Strategic
            21,545       10,359       8.036 %     09/2015       3,420       6,925       3,330  
Net Lease Strategic
            6,121       2,943       8.036 %     09/2015       943       2,203       1,059  
Net Lease Strategic
            8,694       4,180       6.090 %     01/2016       668       7,446       3,580  
Net Lease Strategic
            6,426       3,090       6.090 %     04/2016       494       5,465       2,628  
Net Lease Strategic
            6,541       3,145       6.315 %     09/2016       497       5,723       2,752  
One Summit
            19,248       5,774       9.375 %     10/2016       3,344              
Net Lease Strategic
            9,244       4,445       6.063 %     11/2016       683       8,023       3,857  
One Summit
            12,423       3,727       10.625 %     11/2016       2,239              
Net Lease Strategic
            9,193       4,420       5.910 %     10/2018       728       6,624       3,185  

Page 37 of 42


 

LEXINGTON REALTY TRUST
Non- Consolidated Investments: Mortgages & Notes Payable
6/30/2008
                                                                 
                                            Current            
                                            Estimated            
            Debt   LXP Proportionate                   Annual Debt           Proportionate
            Balance   Proportionate   Interest           Service   Balloon   Share Balloon
  Joint Venture   Footnotes   ($000)   Share ($000)   Rate (%)   Maturity   ($000) (10)   Payment ($000)   Payment ($000)
 
Dallas Commerce
            12,512       3,241       15.000 %     12/2018       2,166              
Net Lease Strategic
            9,949       4,783       6.010 %     08/2019       753       7,658       3,682  
Net Lease Strategic
            7,500       3,606       6.507 %     11/2019       496       6,692       3,218  
Net Lease Strategic
            10,033       4,824       6.270 %     12/2019       774       7,755       3,729  
Net Lease Strategic
            10,147       4,879       5.930 %     10/2020       750       7,660       3,683  
Net Lease Strategic
            9,595       4,613       5.460 %     12/2020       741       5,895       2,834  
Net Lease Strategic
            9,670       4,649       5.640 %     01/2021       692       7,018       3,374  
Net Lease Strategic
            12,801       6,155       5.380 %     08/2025       1,144       362       174  
             
Subtotal/Wtg. Avg. (5)/Years Remaining (6)
          $ 417,104     $ 183,249       6.561 %     6.7     $ 49,272     $ 283,242     $ 130,369  
             

Page 38 of 42


 

LEXINGTON REALTY TRUST
Non- Consolidated Investments: Mortgages & Notes Payable
6/30/2008
                                                                 
                                            Current            
                                            Estimated            
            Debt   LXP Proportionate                   Annual Debt           Proportionate
            Balance   Proportionate   Interest           Service   Balloon   Share Balloon
  Joint Venture   Footnotes   ($000)   Share ($000)   Rate (%)   Maturity   ($000) (10)   Payment ($000)   Payment ($000)
 
Corporate
                                                               
Concord
    (1 )     28,952       14,476       3.280 %     11/2008       963       28,952       14,476  
Concord
    (4 )     36,016       18,008       3.481 %     12/2008       1,271       36,016       18,008  
Concord
    (4 )(8)     15,981       7,991       3.393 %     03/2009       550       15,981       7,991  
Concord
    (2 )(7)     265,296       132,648       3.435 %     03/2009       9,239       265,296       132,648  
Concord
    (7 )(9)     22,000       11,000       4.660 %     03/2010       1,039       22,000       11,000  
Concord
    (4 )     59,613       29,807       3.471 %     12/2012       2,098       59,613       29,807  
Concord
    (3 )     362,450       181,225       2.977 %     12/2016       10,940       362,450       181,225  
             
 
                                                               
Subtotal/Wtg.
Avg.
(5)/Years
Remaining
(6)
          $ 790,308     $ 395,154       3.257 %     4.5     $ 26,100     $ 790,308     $ 395,155  
             
Total/Wtg.
Avg.
(5)/Years
Remaining
(6)
          $ 1,207,412     $ 578,403       4.304 %     5.2     $ 75,372     $ 1,073,550     $ 525,524  
             
Footnotes
 
(1)   Represents amount outstanding on $150.0 million repurchase agreement, variable rate.  
 
(2)   Represents amount outstanding on $350.0 million repurchase agreement, variable rate.  
 
(3)   Collateralized debt obligation of investment grade-rated debt secured directly or indirectly by real estate assets.  
 
(4)   Represents amount outstanding on term loans.  
 
(5)   Weighted average interest rate based on proportionate share.  
 
(6)   Weighted average years remaining on maturities based on proportionate debt balance.  
 
(7)   Maturity date can be extended to 03/2011 if certain criteria are met.  
 
(8)   Maturity date can be extended to 03/2012 if certain criteria are met.  
 
(9)   Represents amount outstanding on $100.0 million repurchase agreement, variable rate.  
 
(10)   Amounts represent estimated 12 months debt service regardless of maturity date.  

Page 39 of 42


 

LEXINGTON REALTY TRUST
Mortgage Maturity Schedule

As of June 30, 2008
($000)
                         
Consolidated Properties  
                    Balloon Weighted  
    Scheduled             Average Interest Rate  
Year   Amortization     Balloon Payments     (%)  
2008-remaining
  $ 27,514     $ 6,093 (1)     7.32 %
2009
    47,046       68,781 (2)     5.93  
2010
    34,454       110,569       6.83  
2011
    30,933       99,412       5.77  
2012
    30,994       183,794 (3)     5.98  
 
                 
 
  $ 170,941     $ 468,649       6.14 %
 
                 
                         
Joint Venture Investments — LXP Proportionate Share  
                    Balloon Weighted  
    Scheduled             Average Interest Rate  
Year   Amortization     Balloon Payments     (%)  
2008-remaining
  $ 2,539     $ 32,484       3.39 %
2009
    5,412       154,594       3.91  
2010
    4,477       14,656       5.29  
2011
    4,571       22,128       5.89  
2012
    4,670       40,458       3.92  
 
                 
 
  $ 21,669     $ 264,320       4.09 %
 
                 
Footnotes
 
(1)   Excludes corporate level debt of $5,611, variable rate 3.05% at 6/30/08.
 
(2)   Excludes corporate level debt of $197,931, variable rate 3.05% at 6/30/08.
 
(3)   Excludes corporate level debt of $325,000, fixed rate 5.45% at 6/30/08.

Page 40 of 42


 

LEXINGTON REALTY TRUST
Base Rent Estimates for Current Assets
6/30/2008

($000)
                 
Year   Cash   GAAP
2008-remaining
  $ 178,440     $ 179,374  
2009
    336,770       339,690  
2010
    297,274       301,003  
2011
    281,876       286,554  
2012
    256,398       263,158  
Amounts assume all below market leases are renewed by the tenants at the option rate and no new or renegotiated lease are entered into for any other property.

Page 41 of 42


 

Investor Information
     
Transfer Agent   Investor Relations
BNY Mellon Shareowner Services
480 Washington Blvd.
Jersey City NJ 07310-1900
(800) 850-3948
www.bnymellon.com/shareowner/isd
  Patrick Carroll
Executive Vice President and Chief Financial Officer
Telephone (direct)       (212) 692-7215
Facsimile (main)
      (212) 594-6600
E-mail
      pcarroll@lxp.com
             
Research Coverage            
Cantor Fitzgerald
      Keefe, Bruyette & Woods
   
Philip Martin
Matthew Thorp
  (312) 469-7485
(312) 469-7484
  Sheila K. McGrath   (212) 887-7793
 
      Lehman Brothers
   
 
      Ross L. Smotrich   (212)526-2306
 
Friedman, Billings, Ramsey
      Raymond James & Assoc.
   
Gabe Poggi
Merrill Ross
  (703) 469-1141
(703) 312-9769
  Paul Puryear

  (727) 567-2253
 
           
J.P. Morgan Chase
           
Joseph Dazio, CFA
  (212) 622-6416
  Stifel Nicolaus    
Michael W. Mueller, CFA
  (212) 622-6689
  John W. Guinee   (443) 224-1307
Anthony Paolone, CFA
  (212) 622-6682
       
Gregory P. Stuart
  (212) 622-5390
       

Page 42 of 42