EX-99 4 ex99-2.htm EX. 99.2: SUPPLEMENTAL REPORTING PACKAGE

 

Exhibit 99.2

 

 


 

 

 

Quarterly Earnings and

Supplemental Operating and Financial Data

 

For the Quarter Ended March 31, 2007

 

 

 

 

 


 


 

LEXINGTON REALTY TRUST

SUPPLEMENTAL REPORTING PACKAGE

For the three months ended March 31, 2007

 

Table of Contents

 

Statements of Operations

3

Balance Sheets

4

Combined Joint Venture Income Statement

5

First Quarter Transaction Summary

6

Property Holdings

8

Lease Rollover Schedules

21

Mortgages and Notes Payable

23

Revenue by Tenant Industry

29

Revenue by MSA

30

Other Revenue Data

31

Investor Information

32

 

This Quarterly Earnings and Supplemental Operating and Financial Data contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the control of Lexington Realty Trust (“Lexington”) which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 1, 2007 (the “Form 10-K”) and other periodic reports filed with the SEC, including risks related to, (i) the failure to integrate our operations and properties with those of Newkirk Realty Trust, (ii) the failure to continue to qualify as a real estate investment trust, (iii) changes in general business and economic conditions, (iv) competition, (v) increases in real estate construction costs, (vi) changes in interest rates, or (vii) changes in accessibility of debt and equity capital market. Copies of the Form 10-K and the other periodic reports Lexington files with the SEC are available on Lexington’s website at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe the Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects” or similar expressions. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.

 


Lexington Realty Trust and Consolidated Subsidiaries

Consolidated Statements of Operations

(in thousands, except share data)

 

 

 

Three Months Ended
March 31,

 

 

 

2007

 

2006

 

Gross revenues:

 

 

 

 

 

 

 

Rental

 

$

88,792

 

$

46,125

 

Advisory fees

 

 

719

 

 

1,063

 

Tenant reimbursements

 

 

5,651

 

 

4,433

 

Total gross revenues

 

 

95,162

 

 

51,621

 

 

 

 

 

 

 

 

 

Expense applicable to revenues:

 

 

 

 

 

 

 

Depreciation and amortization

 

 

(54,302

)

 

(19,541

)

Property operating

 

 

(11,475

)

 

(7,697

)

General and administrative

 

 

(8,816

)

 

(5,614

)

Non-operating income

 

 

2,560

 

 

795

 

Interest and amortization expense

 

 

(32,978

)

 

(17,369

)

Debt satisfaction charges

 

 

 

 

(947

)

 

 

 

 

 

 

 

 

Income (loss) before benefit (provision) for income taxes, minority interests,
equity in earnings of non-consolidated entities and discontinued operations

 

 

(9,849

)

 

1,248

 

Benefit (provision) for income taxes

 

 

(543

)

 

73

 

Minority interests share of (income) loss

 

 

7,522

 

 

(216

)

Equity in earnings of non-consolidated entities

 

 

3,508

 

 

1,268

 

Income from continuing operations

 

 

638

 

 

2,373

 

 

 

 

 

 

 

 

 

Discontinued operations:

 

 

 

 

 

 

 

Income from discontinued operations

 

 

2,414

 

 

1,732

 

Debt satisfaction charges

 

 

 

 

(78

)

Gains on sales of properties

 

 

 

 

2,653

 

Minority interests share of (income) loss

 

 

(837

)

 

(602

)

Total discontinued operations

 

 

1,577

 

 

3,705

 

Net income

 

 

2,215

 

 

6,078

 

Dividends attributable to preferred shares – Series B

 

 

(1,590

)

 

(1,590

)

Dividends attributable to preferred shares – Series C

 

 

(2,519

)

 

(2,519

)

Dividends attributable to preferred shares – Series D

 

 

(1,522

)

 

 

Net income (loss) allocable to common shareholders

 

$

(3,416

)

$

1,969

 

 

 

 

 

 

 

 

 

Income (loss) per common share – basic:

 

 

 

 

 

 

 

Loss from continuing operations, after preferred dividends

 

$

(0.07

)

$

(0.03

)

Income from discontinued operations

 

 

0.02

 

 

0.07

 

Net income (loss) allocable to common shareholders

 

$

(0.05

)

$

0.04

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – basic

 

 

68,538,404

 

 

51,844,001

 

 

 

 

 

 

 

 

 

Income (loss) per common share – diluted:

 

 

 

 

 

 

 

Loss from continuing operations, after preferred dividends

 

$

(0.07

)

$

(0.03

)

Income from discontinued operations

 

 

0.02

 

 

0.07

 

Net income (loss) allocable to common shareholders

 

$

(0.05

)

$

0.04

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – diluted

 

 

68,538,404

 

 

51,844,001

 

Page 3

 


Lexington Realty Trust and Consolidated Subsidiaries

Consolidated Balance Sheets

(in thousands)

 

 

 

March 31,
2007

 

December 31,
2006

 

Assets:

 

 

 

 

 

 

 

Real estate, at cost

 

$

3,774,018

 

$

3,747,156

 

Less: accumulated depreciation and amortization

 

 

305,432

 

 

276,129

 

 

 

 

3,468,586

 

 

3,471,027

 

Properties held for sale – discontinued operations

 

 

86,540

 

 

69,612

 

Intangible assets, net

 

 

434,466

 

 

468,244

 

Cash and cash equivalents

 

 

200,120

 

 

97,547

 

Investment in and advances to non-consolidated entities

 

 

243,494

 

 

247,045

 

Deferred expenses, net

 

 

30,901

 

 

16,084

 

Notes receivable

 

 

49,382

 

 

50,534

 

Rent receivable – current

 

 

27,916

 

 

53,744

 

Rent receivable – deferred

 

 

24,600

 

 

29,410

 

Investment in marketable securities

 

 

24,792

 

 

32,036

 

Other assets

 

 

81,444

 

 

89,574

 

 

 

$

4,672,241

 

$

4,624,857

 

Liabilities and Shareholders’ Equity:

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

Mortgages and notes payable

 

$

1,526,813

 

$

2,126,810

 

Exchangeable notes payable, including accrued interest

 

 

450,000

 

 

 

Trust notes payable, including accrued interest

 

 

200,000

 

 

 

Contract rights payable

 

 

12,527

 

 

12,231

 

Dividends payable

 

 

30,412

 

 

44,948

 

Liabilities – discontinued operations

 

 

48,316

 

 

6,064

 

Accounts payable and other liabilities

 

 

24,621

 

 

25,877

 

Accrued interest payable

 

 

10,147

 

 

10,818

 

Deferred revenue

 

 

325,500

 

 

362,815

 

Prepaid rent

 

 

17,215

 

 

10,109

 

 

 

 

2,645,551

 

 

2,599,672

 

Minority interests

 

 

839,144

 

 

902,741

 

 

 

 

 

 

 

 

 

Shareholders’ equity

 

 

1,187,546

 

 

1,122,444

 

 

 

$

4,672,241

 

$

4,624,857

 

 

 

 

 

 

 

 

 

Common shares

 

 

66,242

 

 

69,052

 

Operating partnership units

 

 

40,166

 

 

41,191

 

Preferred shares

 

 

12,460

 

 

6,260

 

Page 4

 


 

Lexington Realty Trust

Joint Venture Proportionate Share

Combined Condensed Statement of Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

 

March 31, 2007

 

 

 

 

 

 

 

 

 

 

Gross revenues

 

$                           13,918 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

$                             5,305 

 

 

 

Interest and amortization

$                             8,170 

 

 

 

Other income and expenses

$                           (2,970)

 

 

 

Expenses

 

 

$                           10,505 

 

 

 

 

 

 

 

 

 

 

Net income

 

$                             3,413 

 

 

Page 5

 


Lexington Realty Trust

2007 First Quarter Transaction Summary

($000)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Acquisitions

Tenants/Guarantors

 

Location

 

 

Property
Type

Capitalized Costs

Average Annual
GAAP Rent, net

Average
GAAP Yield

Current
Annual Cash
Rent, net

Current
Cash Yield

Lease
Term

 

Corinthian Colleges, Inc.

 

Orlando

FL

 

Office

 

$            14,320 

 

$              1,222 

 

8.5%

 

$      1,184 

 

8.3%

 

Sep-2013

 

Libbey Glass, Inc.

 

Shreveport

LA

 

Industrial

 

$            26,678 

 

$              2,092 

 

7.8%

 

$      1,873 

 

7.0%

 

Oct-2026

 

Harvard Vanguard Medical Assoc.

 

Boston

MA

 

Office

 

$            20,070 

 

$              1,246 

 

6.2%

 

$      1,229 

 

6.1%

 

May-2012

 

Brinks, Inc.

 

Coppell

TX

 

Office

 

$            18,082 

 

$              1,426 

 

7.9%

 

$      1,204 

 

6.7%

 

Apr-2017

 

 

 

 

 

 

 

 

$            79,150 

 

$              5,986 

 

7.6%

 

$      5,490 

 

6.9%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dispositions

 

Tenants/Guarantors

 

Location

 

 

Property
Type

Net Sale Price

 

Net Book Value

 

 

 

 

 

 

 

 

 

Honeywell International Inc.

 

Morris Township

NJ

 

Office

 

$            11,967 

 

$            11,967 

 

 

 

 

 

 

 

 

 

Honeywell International Inc.

 

Morris Township

NJ

 

Office

 

$              1,470 

 

$              1,470 

 

 

 

 

 

 

 

 

 

Honeywell International Inc.

 

Morris Township

NJ

 

Office

 

$              9,768 

 

$              9,768 

 

 

 

 

 

 

 

 

 

Honeywell International Inc.

 

Morris Township

NJ

 

Office

 

$            18,689 

 

$            18,689 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$            41,894 

 

$            41,894 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

New Property Financings

Tenants/Guarantors

 

Location

 

 

Property
Type

Amount

 

Interest Rate

 

Maturity Date

 

 

 

 

 

 

Corinthian Colleges, Inc.

 

Orlando

FL

 

Office

 

$              9,975 

 

5.72%

 

Feb-2017

 

 

 

 

 

 

 

Atlas Cold Storage 

 

McDonough

GA

 

Industrial

 

$            23,000 

 

6.11%

 

Nov-2017

 

 

 

 

 

 

 

Hagemeyer North American, Inc.

Charleston

SC

 

Office

 

$              7,350 

 

5.85%

 

Feb-2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$            40,325 

 

5.97%

 

 

 

 

 

 

 

 

Page 6

 


Lexington Realty Trust

2007 First Quarter Transaction Summary (continued)

($000)

 

New Leases

Tenants/Guarantors

 

Location

 

 

Property Type

Term

 

Sq. Ft.

 

Rent Per Annum

 

 

 

 

Kohl’s Department Stores, Inc.

 

Tallahassee

FL

 

Retail

 

Feb-2028

 

90,000 

 

$         400 

 

 

 

 

 

 

Zwicker & Associates, P.C.

 

Hebron

KY

 

Office

 

Mar-2012

 

12,356 

 

$           62 

 

 

 

 

 

 

Ferris, Baker Watts, Inc.

 

Baltimore

MD

 

Office

 

Sep-2016

 

45,909 

 

$      1,277 

 

 

 

 

 

 

The Center Club, Inc.

 

Baltimore

MD

 

Office

 

Sep-2019

 

31,306 

 

$         612 

 

 

 

 

 

 

Quaker Sales & Distribution, Inc.

New Kingston

PA

 

Industrial

 

Feb-2008

 

179,200 

 

$         627 

 

 

 

 

 

 

Comprehensive Logistics Inc.

 

Antioch

TN

 

Industrial

 

8/07 & 12/07

 

300,700 

 

$         942 

 

 

 

 

 

 

General Electric Company

 

Richmond

VA

 

Office

 

May-2012

 

24,375 

 

$         439 

 

 

 

 

 

 

Clegg, Daniels & Petrey, LLC

 

Decatur

GA

 

Office

 

Mar-2013

 

1,846 

 

$           40 

 

 

 

 

 

 

Packet 360, Inc.

 

Richmond

VA

 

Office

 

Mar-2014

 

10,273 

 

$         190 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

695,965 

 

$      4,589 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

 

 

 

 

 

 

 

 

Lease Extensions

Tenants/Guarantors

 

Location

 

 

Property Type

Term

 

Sq. Ft.

 

Rent Per Annum

 

 

 

 

Mervyn’s

 

Tustin

CA

 

Retail

 

Dec-2012

 

72,000 

 

$         100 

 

 

 

 

 

 

Damar Services, Inc.

 

Indianapolis

IN

 

Office

 

Mar-2008

 

5,756 

 

$           40 

 

 

 

 

 

 

Safeway Stores, Inc.

 

Minden

LA

 

Retail

 

Nov-2012

 

35,000 

 

$         193 

 

 

 

 

 

 

Food Lion, LLC

 

Jacksonville

NC

 

Retail

 

Feb-2013

 

23,000 

 

$           84 

 

 

 

 

 

 

Food Lion, LLC

 

Jefferson

NC

 

Retail

 

Feb-2013

 

23,000 

 

$           73 

 

 

 

 

 

 

Food Lion, LLC

 

Lexington

NC

 

Retail

 

Feb-2013

 

23,000 

 

$         138 

 

 

 

 

 

 

Food Lion, LLC

 

Moncks Corner

SC

 

Retail

 

Feb-2013

 

23,000 

 

$           62 

 

 

 

 

 

 

Dana Corporation

 

Gordonsville

TN

 

Industrial

 

Aug-2012

 

148,000 

 

$         355 

 

 

 

 

 

 

Worthington Direct, Inc.

 

Dallas

TX

 

Office

 

Jan-2012

 

3,621 

 

$           53 

 

 

 

 

 

 

Middleburg Riddle & Gianna

 

Dallas

TX

 

Office

 

Dec-2011

 

2,558 

 

$           35 

 

 

 

 

 

 

Safeway Stores, Inc.

 

Granbury

TX

 

Retail

 

Nov-2012

 

35,000 

 

$         203 

 

 

 

 

 

 

Safeway Stores, Inc.

 

Hillsboro

TX

 

Retail

 

Nov-2012

 

35,000 

 

$         161 

 

 

 

 

 

 

Food Lion, LLC

 

Staunton

VA

 

Retail

 

Feb-2013

 

23,000 

 

$         166 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

451,935 

 

$      1,663 

 

 

 

 

 

 

Page 7

 


LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

 

 

Property Location

City

State

Primary Tenant (Guarantor)

Property Net Rentable Sq.Ft.

 

1

 

12209 W. Markham St.

Little Rock

AR

Entergy Arkansas, Inc.

36,311

 

2

 

5201 West Barraque St.

Pine Bluff

AR

Entergy Services, Inc.

27,189

 

3

 

19019 No. 59th Ave.

Glendale

AZ

Honeywell, Inc.

252,300

 

4

 

2211 South 47th St.

Phoenix

AZ

Avnet, Inc.

176,402

 

5

 

13430 N. Black Canyon Fwy.

Phoenix

AZ

Bull HN Information Systems, Inc.

87,259

 

 

 

 

 

 

VACANT

49,799

 

6

 

2005 East Technology Cir.

Tempe

AZ

(i) Structure, LLC (Infocrossing, Inc.)

60,000

 

7

 

8555 South River Pkwy.

Tempe

AZ

ASM Lithography Holding NV

95,133

 

8

 

1440 East 15th St.

Tucson

AZ

Cox Communications, Inc.

28,591

 

9

 

2200 & 2222 East Imperial Hwy. 3

El Segundo

CA

Raytheon Company

184,636

 

10

 

2230 East Imperial Hwy. 1

El Segundo

CA

Raytheon Company/Direct TV

184,636

 

11

 

17770 Cartwright Rd.

Irvine

CA

Associates First Capital Corporation

200,000

 

12

 

26210 and 26220 Enterprise Court

Lake Forest

CA

Apria Healthcare Group, Inc.

100,012

 

13

 

1500 Hughes Way

Long Beach

CA

Raytheon Company

478,437

 

14

 

27016 Media Center Dr.

Los Angeles

CA

Playboy Enterprises, Inc.

83,252

 

15

 

5724 W. Las Positas Blvd.

Pleasanton

CA

NK Leasehold

41,760

 

16

 

255 California St.

San Francisco

CA

Multi-Tenanted

142,239

 

 

 

 

 

 

VACANT

27,607

 

17

 

599 Ygnacio Valley Rd.

Walnut Creek

CA

Hercules Credit, Inc.

54,528

 

18

 

5550 Tech Center Dr.

Colorado Spring

CO

Federal Express Corporation

71,000

 

19

 

3940 South Teller St.

Lakewood

CO

Travelers Express, Inc

68,165

 

20

 

10 John St.

Clinton

CT

Chesebrough Ponds (Unilever United States, Inc.)

41,188

 

21

 

200 Executive Blvd. S

Southington

CT

Hartford Fire Insurance Co.

153,364

 

22

 

100 Barnes Rd.

Wallingford

CT

Minnesota Mining and Manufacturing Company

44,400

 

23

 

5600 Broken Sound Blvd

Boca Raton

FL

Océ Printing Systems USA, Inc.

143,290

 

24

 

12600 Gateway Blvd.

Fort Meyers

FL

Gartner, Inc.

62,400

 

25

 

2310 Village Square Pkwy.

Jacksonville

FL

AmeriCredit Corporation

85,000

 

26

 

9200 South Park Center Loop

Orlando

FL

Corinthian Colleges, Inc.

59,927

 

27

 

6277 Sea Harbor Dr.

Orlando

FL

Harcourt Brace & Company

357,280

 

28

 

Sandlake Rd./Kirkman Rd.

Orlando

FL

Lockheed Martin Corporation

184,000

 

29

 

4200 RCA Blvd.

Palm Beach Gardens

FL

The Wackenhut Corp.

114,518

 

30

 

10419 North 30th St.

Tampa

FL

Time Customer Service, Inc. (Time, Inc.)

132,981

 

31

 

6303 Barfield Rd. & 859 Mount Vernon Hwy.

Atlanta

GA

Internet Security Systems, Inc.

289,000

 

Page 8

 


LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

 

 

Property Location

City

State

Primary Tenant (Guarantor)

Property Net Rentable Sq.Ft.

 

32

 

4000 Johns Creek Pkwy.

Atlanta

GA

Kraft Foods N.A., Inc.

87,219

 

33

 

160 Clairemont Ave.

Decatur

GA

Allied Holdings, Inc.

112,248

 

34

 

King St.

Honolulu

HI

Multi –Tenanted

206,535

 

 

 

 

 

 

VACANT

5,296

 

35

 

1275 NW 128th St.

Clive

IA

Principal Life Insurance Company

61,180

 

36

 

850-950 Warrenville Rd.

Lisle

IL

National Louis University

99,414

 

37

 

700 Oakmont Lane

Westmont

IL

North American Van Lines, Inc. (SIRVA, Inc.)

269,715

 

38

 

500 Jackson St.

Columbus

IN

Cummins Engine Company Inc.

390,100

 

39

 

5757 Decatur Blvd.

Indianapolis

IN

Allstate Insurance Co.

89,956

 

40

 

10475 Crosspoint Blvd.

Indianapolis

IN

John Wiley & Sons, Inc.

141,047

 

41

 

2300 Litton Lane

Hebron

KY

AGC Automotive Americas Co.

30,706

 

 

 

 

 

 

VACANT

49,714

 

42

 

313 Carondelet

New Orleans

LA

Hibernia Corporation

222,432

 

43

 

1111 Tulane St.

New Orleans

LA

Hibernia Corporation

180,595

 

44

 

147 Milk St.

Boston

MA

Harvard Vanguard Medical Assoc.

52,337

 

45

 

270 Billerica Rd.

Chelmsford

MA

Cadence Design Systems

100,000

 

46

 

33 Commercial St.

Foxboro

MA

Invensys Systems, Inc. (Siebe, Inc.)

164,689

 

47

 

70 Mechanic St.

Foxboro

MA

Invensys Systems, Inc. (Siebe, Inc.)

251,914

 

48

 

250 Turnpike Rd.

Southborough

MA

Honeywell Consumer Products

57,698

 

49

 

100 Light St.

Baltimore

MD

St. Paul Fire and Marine Insurance Co.

530,000

 

50

 

3165 McKelvey Rd.

Bridgeton

MO

BJC Health System

52,994

 

51

 

27404 Drake Rd.

Farmington Hills

MI

VACANT

111,454

 

52

 

12000 Tech Center Dr.

Livonia

MI

Kelsey-Hayes Company

80,230

 

53

 

26555 Northwestern Hwy.

Southfield

MI

Federal-Mogul Corporation

187,163

 

54

 

3943 Denny Ave.

Pascagoula

MS

Northrop Grumman Systems Corporation

94,841

 

55

 

11707 Miracle Hills Dr.

Omaha

NE

(i) Structure, LLC (Infocrossing, Inc.)

86,800

 

56

 

700 US Hwy Route 202-206

Bridgewater

NJ

Biovail Pharmaceuticals, Inc.

115,558

 

57

 

200 Milik St.

Carteret

NJ

Pathmark Stores, Inc.

96,400

 

58

 

288 North BRd. St.

Elizabeth

NJ

Bank of America

30,000

 

59

 

656 Plainsboro Rd.

Plainsboro

NJ

Bank of America

2,000

 

60

 

333 Mt. Hope Ave.

Rockway

NJ

BASF Corporation

95,500

 

61

 

1415 Wyckoff Rd.

Wall Township

NJ

New Jersey Natural Gas Co.

157,511

 

62

 

29 South Jefferson Rd.

Whippany

NJ

CAE SimuFlite, Inc.

76,363

 

63

 

6226 West Sahara Ave.

Las Vegas

NV

Nevada Power Company

282,000

 

64

 

180 South Clinton St.

Rochester

NY

Frontier Corporation

226,000

 

65

 

5550 Britton Pkwy.

Hilliard

OH

BMW Financial Services NA, LLC

220,966

 

66

 

9333 Springsboro Pike

Miamisburg

OH

Reed Elsevier, Inc.

61,229

 

Page 9

 


LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

 

 

Property Location

City

State

Primary Tenant (Guarantor)

Property Net Rentable Sq.Ft.

 

 

 

CONSOLIDATED OFFICE PROPERTIES

 

 

 

 

67

 

9393 Springsboro Pike

Miamisburg

OH

Reed Elsevier, Inc.

85,873

 

68

 

4848 129th East Ave.

Tulsa

OK

Metris Companies, Inc.

101,100

 

69

 

2999 SW 6th St.

Redmond

OR

Voice Stream PCS I LLC (T-Mobile USA, Inc.)

77,484

 

70

 

265 Lehigh St.

Allentown

PA

Wachovia Bank N.A.

71,230

 

71

 

180 Rittenhouse Cir.

Bristol

PA

Jones Apparel Group USA, Inc. (Jones Apparel Group, Inc.)

96,000

 

72

 

250 Rittenhouse Cir.

Bristol

PA

Jones Apparel Group USA, Inc. (Jones Apparel Group, Inc.)

255,019

 

73

 

2550 Interstate Dr.

Harrisburg

PA

AT&T Wireless Services, Inc.

81,859

 

74

 

1701 Market St.

Philadelphia

PA

Morgan Lewis & Bockius LLC

321,815

 

75

 

2750 Monroe Blvd.

Valley Forge

PA

Quest Diagnostics, Inc.

109,281

 

76

 

1460 Tobias Gadsen Blvd.

Charleston

SC

Hagemeyer North American, Inc.

50,076

 

77

 

2210 Enterprise Dr.

Florence

SC

Washington Mutual Home Loans, Inc.

177,747

 

78

 

3480 Stateview Blvd.

Fort Mill

SC

Wells Fargo Bank N.A.

169,218

 

79

 

3476 Stateview Blvd.

Fort Mill

SC

Wells Fargo Home Mortgage, Inc.

169,083

 

80

 

701 Brookfield Pkwy.

Greenville

SC

Verizon Wireless

192,884

 

81

 

Nijborg 15 & 17, 3927 DA

Renswoude

Netherlands

AS Watson (Health & Beauty Continental Europe)

122,450

 

82

 

207 Mockingbird Lane

Johnson City

TN

Sun Trust Bank

63,800

 

83

 

420 Riverport Rd.

Kingport

TN

American Electric Power

42,770

 

84

 

2401 Cherahala Blvd.

Knoxville

TN

Advance PCS, Inc.

59,748

 

85

 

1409 Centerpoint Blvd.

Knoxville

TN

Alstom Power, Inc.

84,404

 

86

 

104 & 110 South Front St.

Memphis

TN

Hnedak Bobo Group, Inc.

37,229

 

87

 

3965 Airways Blvd.

Memphis

TN

Federal Express Corporation

521,286

 

88

 

800 Ridgelake Blvd.

Memphis

TN

The Kroger Co.

75,000

 

89

 

350 Pine St.

Beaumont

TX

Entergy Gulf States

427,104

 

90

 

3535 Calder Ave.

Beaumont

TX

Wells Fargo & Co.

49,689

 

91

 

1900 L. Don Dodson Dr.

Bedford

TX

VACANT

206,905

 

92

 

4201 Marsh Lane

Carrollton

TX

Carlson Restaurants Worldwide, Inc.

130,000

 

93

 

555 Dividend Dr.

Coppell

TX

Brinks, Inc.

101,844

 

94

 

601 & 701 Experian Pkwy.

Dallas

TX

Experian Information Solutions, Inc. (TRW Inc.)

292,700

 

Page 10

 


LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

 

 

Property Location

City

State

Primary Tenant (Guarantor)

Property Net Rentable Sq.Ft.

 

95

 

1600 Viceroy Dr.

Dallas

TX

TFC Services (Freeman Decorating Co.)

156,592

 

 

 

 

 

 

VACANT

92,860

 

96

 

2010 Alderson Dr.

Dallas

TX

Multi-Tenanted

104,243

 

 

 

 

 

 

VACANT

69,612

 

97

 

1200 Jupiter Rd.

Garland

TX

Raytheon Company

278,759

 

98

 

10001 Richmond Ave.

Houston

TX

Baker Hughes, Inc.

554,385

 

99

 

2529 West Thorns Dr.

Houston

TX

Baker Hughes, Inc.

65,500

 

100

 

810 & 820 Gears Rd.

Houston

TX

IKON Office Solutions, Inc.

157,790

 

101

 

16676 Northchase Dr.

Houston

TX

Kerr-McGee Oil and Gas Corporation

101,111

 

102

 

26410 McDonald Rd.

Houston

TX

Montgomery County Management Company LLC

41,000

 

103

 

1311 Broadfield Blvd.

Houston

TX

Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.)

155,991

 

104

 

6200 Northwest Pkwy.

San Antonio

TX

PacifiCare Health Systems, Inc.

142,500

 

105

 

12645 W. Airport Rd.

Sugar Land

TX

Baker Hughes, Inc.

165,836

 

106

 

11555 University Blvd.

Sugarland

TX

KS Management Services, LLP (St. Luke’s Episcopal Health System Corporation)

72,683

 

107

 

1600 Eberhardt Rd.

Temple

TX

Nextel of Texas

108,800

 

108

 

295 Chipeta Way

Salt Lake City

UT

Northwest Pipeline Corp.

295,000

 

109

 

400 Butler Farm Rd.

Hampton

VA

Nextel Communications of the Mid-Atlantic, Inc.

100,632

 

110

 

421 Butler Farm Rd.

Hampton

VA

Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)

56,515

 

111

 

13651 McLearen Rd.

Herndon

VA

Boeing North American Services, Inc. (The Boeing Company)

159,664

 

112

 

2800 Waterford Lake Dr.

Richmond

VA

Alstom Power, Inc

99,057

 

113

 

9950 Mayland Dr.

Richmond

VA

Circuit City Stores, Inc.

288,562

 

114

 

6455 State Hwy 303 NE

Bremerton

WA

Nextel West Corporation

60,200

 

115

 

849 Front St.

Evanston

WY

Multi-Tenanted

13,852

 

 

 

 

 

 

VACANT

8,442

 

115

 

Consolidated Office Properties Total

 

 

 

16,719,592

 

 

 

 

 

 

 

 

 

Page 11

 


LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

 

 

Property Location

City

State

Primary Tenant (Guarantor)

Property Net Rentable Sq.Ft.

 

 

 

CONSOLIDATED INDUSTRIAL PROPERTIES

 

 

 

 

1

 

Moody Commuter & Tech Park

Moody

AL

TNT Logistics North America, Inc. (TPG N.V.)

595,346

 

2

 

3501 West Ave. H

Lancaster

CA

Michaels Stores, Inc.

762,775

 

3

 

1665 Hughes Way

Long Beach

CA

Raytheon Company

200,541

 

4

 

3333 Coyote Hill Rd.

Palo Alto

CA

Xerox Corporation

123,000

 

5

 

109 Stevens St.

Jacksonville

FL

Unisource Worldwide, Inc

168,800

 

6

 

2455 Premier Dr.

Orlando

FL

Walgreen Co.

205,016

 

7

 

3102 Queen Palm Dr.

Tampa

FL

Time Customer Service, Inc. (Time, Inc.)

229,605

 

8

 

359 Gateway Dr.

Livonia

GA

TI Group Automotive Systems, LLC

133,221

 

9

 

1420 Greenwood Rd.

McDonough

GA

Atlas Cold Storage America LLC

201,583

 

10

 

7500 Chavenelle Rd.

Dubuque

IA

The McGraw-Hill Companies, Inc.

330,988

 

11

 

2280 Northeast Dr.

Waterloo

IA

Ryder Integrated Logistics, Inc. (Ryder Systems, Inc.)

276,480

 

12

 

3600 Southgate Dr.

Danville

IL

Sygma Network, Inc. (Sysco Corporation)

149,500

 

13

 

749 Southrock Dr.

Rockford

IL

Jacobson Warehouse Company, Inc. (Jacobson Transportation Company, Inc.)

150,000

 

14

 

3686 South Central Ave.

Rockford

IL

Jacobson Warehouse Company, Inc. (Jacobson Transportation Company, Inc.)

90,000

 

15

 

2935 Van Vactor Way

Plymouth

IN

Bay Valley Foods, LLC

300,500

 

16

 

10000 Business Blvd.

Dry Ridge

KY

Dana Corporation

336,350

 

17

 

750 N. Black Branch Rd.

Elizabethtown

KY

Dana Corporation

539,592

 

18

 

730 N. Black Branch Rd.

Elizabethtown

KY

Dana Corporation

167,770

 

19

 

301 Bill Breyer Rd.

Hopkinsville

KY

Dana Corporation

424,904

 

20

 

4010 Airpark Dr.

Owensboro

KY

Dana Corporation

251,041

 

21

 

1901 Ragu Dr.

Owensboro

KY

Ragu Foods, Inc (Unilever United States, Inc.)

443,380

 

22

 

7150 Exchequer Dr.

Baton Rouge

LA

Corporate Express Office Products, Inc. (Buhrmann, N.V.)

79,086

 

23

 

5001 Greenwood Rd.

Shreveport

LA

Libbey Glass, Inc.

646,000

 

24

 

North Wells Rd.

North Berwick

ME

United Technologies Corp.

820,868

 

25

 

4425 Purks Rd.

Auburn Hills

MI

VACANT

183,717

 

26

 

6938 Elm Valley Dr.

Kalamazoo

MI

Dana Corporation

150,945

 

27

 

12025 Tech Center Dr.

Livonia

MI

Kelsey-Hayes Company

100,000

 

28

 

1601 Pratt Ave.

Marshall

MI

Joseph Campbell Company

58,300

 

29

 

904 Industrial Rd.

Marshall

MI

Tenneco Automotive Operating Company, Inc. (Tenneco Automotive, Inc.)

195,640

 

30

 

46600 Port St.

Plymouth

MI

Johnson Controls, Inc.

134,160

 

31

 

1901 49th Ave.

Minneapolis

MN

Owens Corning

18,620

 

32

 

7670 Hacks Cross Rd.

Olive Branch

MS

Dana Corporation

268,100

 

33

 

324 Industrial Park Rd.

Franklin

NC

SKF USA, Inc.

72,868

 

Page 12

 


LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

 

 

Property Location

City

State

Primary Tenant (Guarantor)

Property Net Rentable Sq.Ft.

 

34

 

1133 Poplar Creek Rd.

Henderson

NC

Corporate Express Office Products, Inc. (Buhrmann, N.V.)

196,946

 

35

 

250 Swathmore Ave.

High Point

NC

Steelcase, Inc.

244,851

 

36

 

2880 Kenny Biggs Rd.

Lumberton

NC

Quickie Manufacturing Corp.

308,000

 

37

 

2203 Sherrill Dr.

Statesville

NC

LA-Z-Boy Greensboro, Inc. (LA-Z-Boy Incorporated)

639,600

 

38

 

75 North St.

Saugerties

NY

Rotron Inc. (EG&G)

52,000

 

39

 

10590 Hamilton Ave.

Cincinnati

OH

The Hillman Group, Inc.

247,000

 

40

 

300 McCormick Rd.

Columbus

OH

Ameritech Services, Inc.

20,000

 

41

 

1650-1654 Williams Rd.

Columbus

OH

ODW Logistics, Inc..

744,800

 

42

 

7005 Cochran Rd.

Glenwillow

OH

Royal Appliance Mfg. Co.

458,000

 

43

 

6500 Adelaide Court

Groveport

OH

Anda Pharmaceuticals, Inc. (Andrx Corporation)

354,676

 

44

 

200 Arrowhead Dr.

Hebron

OH

Owens Corning Sales, Inc.

400,522

 

45

 

191 Arrowhead Dr.

Hebron

OH

Owens Corning Sales, Inc.

250,410

 

46

 

450 Stern St.

Oberlin

OH

Johnson Controls, Inc.

111,160

 

47

 

541 Perkins Jones Rd.

Warren

OH

Kmart Corp.

1,462,642

 

48

 

6345 Brackbill Blvd.

Mechanicsburg

PA

Exel Logistics, Inc. (NFC plc)

507,000

 

49

 

245 Salem Church Rd.

Mechanicsburg

PA

Exel Logistics, Inc. (NFC plc)

252,000

 

50

 

6 Doughten Rd.

New Kingston

PA

Exel Logistics, Inc. (NFC plc)

330,000

 

51

 

34 East Main St.

New Kingston

PA

Quaker Sales & Distribution, Inc.

179,200

 

52

 

590 Ecology Lane

Chester

SC

Owens Corning

420,597

 

53

 

159 Farley Dr.

Dillon

SC

Harbor Freight Tools USA, Inc. (Central Purchasing, Inc.)

1,010,859

 

54

 

US Hwy. 17

North Myrtle Beach

SC

Food Lion, Inc.

36,828

 

55

 

477 Distribution Pkwy.

Collierville

TN

Federal Express Corporation

120,000

 

56

 

900 Industrial Blvd.

Crossville

TN

Dana Corporation

222,200

 

57

 

120 South East Pkwy. Dr.

Franklin

TN

United Technologies Corp.

289,330

 

58

 

187 Spicer Dr.

Gordonsville

TN

Dana Corporation

148,000

 

59

 

3350 Miac Cove Rd.

Memphis

TN

Mimeo.com, Inc.

107,400

 

 

 

 

 

 

VACANT

33,959

 

60

 

3456 Meyers Ave.

Memphis

TN

Sears, Roebuck & Company

780,000

 

61

 

3820 Micro Dr.

Millington

TN

Ingram Micro, L.P (Ingram Micro, Inc)

701,819

 

62

 

9110 Grogans Mill Rd.

Houston

TX

Baker Hughes, Inc.

275,750

 

63

 

300 Bennett Lane

Lewisville

TX

Xerox Corporation

256,000

 

64

 

19500 Bulverde Rd.

San Antonio

TX

Harcourt Brace & Company (Reed Elsevier, Inc.)

559,258

 

65

 

2425 Hwy. 77 North

Waxahachie

TX

James Hardie Building Products, Inc. (James Hardie NV)

425,816

 

66

 

4400 State Rd. 19

Windsor

WI

Walgreen Co.

356,000

 

66

 

Consolidated Industrial Properties Total

 

 

 

21,311,319

 

 

 

 

 

 

 

 

 

Page 13

 


LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

 

 

Property Location

City

State

Primary Tenant (Guarantor)

Property Net Rentable Sq.Ft.

 

 

 

CONSOLIDATED RETAIL/OTHER PROPERTIES

 

 

 

 

1

 

302 Croxcreek Pkwy.

Florence

AL

The Kroger Co.

42,130

 

2

 

5544 Atlanta Hwy.

Montgomery

AL

Beasley Development LLC

60,698

 

3

 

Bisbee Naco Hwy. & Hwy. 92

Bisbee

AZ

Safeway Stores, Inc..

30,181

 

4

 

25 E. McKellips Rd.

Mesa

AZ

CSK Auto (Albertsons Inc.)

2,660

 

5

 

10415 Grande Ave.

Sun City

AZ

Furrs Cafeterias Operators LP

10,000

 

6

 

Grant Rd. & Craycroft

Tucson

AZ

Safeway Stores, Inc.

37,268

 

7

 

7470 El Camino Real

Atascadero

CA

CSK Auto (Albertsons Inc.)

4,000

 

8

 

635 Highland Spring Rd.

Beaumont

CA

CSK Auto (Albertsons Inc.).

4,000

 

9

 

185 Washburn Cir.

Corona

CA

Mark C. Bloome (Goodyear)

9,400

 

10

 

2200/2230 & 2222 E. Imperial Hwy. 2

El Segundo

CA

Raytheon Company

959,000

 

11

 

810124 Hwy. 111

Indio

CA

Mark C. Bloome (Goodyear)

9,600

 

12

 

24100 Laguna Hills Mall

Laguna Hills

CA

Federated Department Stores, Inc. (Macy's)

160,000

 

13

 

22765 Aspan St.

Lake Forest

CA

Mark C. Bloome (Goodyear)

10,250

 

14

 

Old Mammoth Rd./Meridian Blvd

Mammoth Lakes

CA

Safeway Stores, Inc.

44,425

 

15

 

15745 Monterey Rd.

Morgan Hill

CA

Gerard Tire Services (Goodyear)

10,250

 

16

 

2044 West Main St.

Paso Robles

CA

CSK Auto (Albertsons Inc.)

7,000

 

17

 

1400 Stoneridge Mall

Pleasanton

CA

Federated Department Stores, Inc. (Macy's)

175,000

 

18

 

1631 West Redlands Blvd.

Redlands

CA

Mark C. Bloome (Goodyear)

11,200

 

19

 

270 Fashion Valley Rd.

San Diego

CA

Nordstrom, Inc.

225,919

 

20

 

315 Colorado Ave.

Santa Monica

CA

Federated Department Stores, Inc. (Macy's)

150,000

 

21

 

121 South Center St.

Stockton

CA

Greyhound Lines, Inc.

17,000

 

22

 

18182 Irvine Blvd.

Tustin

CA

Mervyn’s

72,000

 

23

 

34734 Alvarado Niles Rd.

Union City

CA

Gerard Tire Services (Goodyear)

10,800

 

24

 

500 East Harbor Blvd.

Ventura

CA

City of San Buenaventura

39,600

 

25

 

17005 Imperial Hwy.

Yorba Linda

CA

Mark C. Bloome (Goodyear)

10,800

 

26

 

12000 East Mississippi Ave.

Aurora

CO

Safeway Stores, Inc.

24,000

 

27

 

15220 East 6th Ave.

Aurora

CO

VACANT

41,384

 

28

 

101 Creger

Ft. Collins

CO

Lithia Motors

10,000

 

29

 

Kipling St. & Bowles Ave.

Littleton

CO

VACANT

29,360

 

30

 

10340 U.S. 19

Port Richey

FL

VACANT

53,820

 

31

 

2010 Apalachee Pkwy.

Tallahassee

FL

Kohl's Department Stores, Inc.

53,820

 

32

 

2223 North Druid Hills Rd.

Atlanta

GA

Bank of America

6,260

 

33

 

956 Ponce de Leon Ave.

Atlanta

GA

Bank of America

3,900

 

34

 

4545 Chamblee – Dunwoody Rd.

Chamblee

GA

Bank of America

4,565

 

35

 

201 West Main St.

Cumming

GA

Bank of America

14,208

 

Page 14

 


LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

 

 

Property Location

City

State

Primary Tenant (Guarantor)

Property Net Rentable Sq.Ft.

 

36

 

3468 Georgia Hwy. 120

Duluth

GA

Bank of America

9,300

 

37

 

1066 Main St.

Forest Park

GA

Bank of America

14,859

 

38

 

825 Southway Dr.

Jonesboro

GA

Bank of America

4,894

 

39

 

1698 Mountain Indus. Blvd.

Stone Mountain

GA

Bank of America

5,704

 

40

 

Fort St. Mall, King St.

Honolulu

HI

Liberty House, Inc.

85,610

 

41

 

928 First Ave.

Rock Falls

IL

Rock Falls County Market

27,650

 

42

 

502 East Carmel Dr.

Carmel

IN

Marsh Supermarkets, Inc.

38,567

 

43

 

5104 North Franklin Rd.

Lawrence

IN

Marsh Supermarkets, Inc.

28,721

 

44

 

2440 Bardstown Rd. (Supermarket)

Louisville

KY

The Kroger Co.

40,019

 

45

 

2440 Bardstown Rd.

Louisville

KY

The Kroger Co.

9,600

 

46

 

205 Homer Rd.

Minden

LA

Safeway Stores, Inc.

35,000

 

47

 

7200 Cradle Rock Way

Columbia

MD

GFS Realty, Inc.

57,209

 

48

 

9580 Livingston Rd.

Oxon Hill

MD

GFS Realty, Inc. (Giant Food, Inc.)

107,337

 

49

 

2401 Wooton Pkwy.

Rockville

MD

GFS Realty, Inc. (Giant Food, Inc.)

51,682

 

50

 

35400 Cowan Rd.

Westland

MI

Sam’s Real Estate Business Trust

102,826

 

51

 

24th St. West & St. John’s Ave.

Billings

MT

Safeway Stores, Inc.

40,800

 

52

 

Little Rock Rd./Tuckaseegee Rd.

Charlotte

NC

Food Lion, Inc.

33,640

 

53

 

Brown Mill Rd./US 601

Concord

NC

Food Lion, Inc.

32,259

 

54

 

Gum Branch Rd.

Jacksonville

NC

Food Lion, Inc.

23,000

 

55

 

US 221 & Hospital Rd.

Jefferson

NC

Food Lion, Inc.

23,000

 

56

 

291 Talbet Blvd.

Lexington

NC

Food Lion, Inc.

23,000

 

57

 

Julian Ave./Clominger St.

Thomasville

NC

Food Lion, Inc.

21,000

 

58

 

10 South Ave.

Garwood

NJ

Pathmark Stores, Inc.

52,000

 

59

 

2910 Juan Tabo Blvd.

Albuquerque

NM

Safeway Stores, Inc.

35,000

 

60

 

900 South Canal St..

Carlsbad

NM

Furrs Cafeterias Operators LP

10,000

 

61

 

2404 West Main St.

Farmington

NM

CSK Auto (Albertsons Inc.)

3,030

 

62

 

2520 E. Bonanza Rd.

Las Vegas

NV

CSK Auto (Albertsons Inc.)

2,800

 

63

 

130 Midland Ave.

Portchester

NY

Pathmark Stores, Inc.

59,000

 

64

 

4831 Whipple Ave., N.W.

Canton

OH

Best Buy Co., Inc.

46,350

 

65

 

4733 Hills & Dales Rd.

Canton

OH

Scandinavian Health Spa, Inc. (Bally Total Fitness Corp.)

37,214

 

66

 

1606 North Bend Rd.

Cincinnati

OH

VACANT

25,628

 

67

 

2000 East Main St.

Columbus

OH

The Kroger Co.

34,019

 

68

 

1084 East Second St.

Franklin

OH

Marsh Supermarkets, Inc.

29,119

 

69

 

N.E.C. 45th St./Lee Blvd.

Lawton

OK

Safeway Stores, Inc.

30,757

 

70

 

11411 N. Kelly Ave.

Oklahoma City

OK

American Golf Corporation

13,924

 

71

 

6910 S. Memorial Hwy.

Tulsa

OK

Toys “R” Us, Inc.

43,123

 

72

 

12535 S.E. 82nd Ave.

Clackamas

OR

Toys “R” Us, Inc.

42,842

 

Page 15

 


LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

 

 

Property Location

City

State

Primary Tenant (Guarantor)

Property Net Rentable Sq.Ft.

 

73

 

1642 Williams Ave.

Grants Pass

OR

Safeway Stores, Inc.

33,770

 

74

 

2655 Shasta Way

Klamath Falls

OR

Fred Meyer, Inc.

178,204

 

75

 

150 N.E. 20th St.

Newport

OR

Fred Meyer, Inc.

118,179

 

76

 

559 North Main St.

Doylestown

PA

Citizens Bank of Pennsylvania

3,800

 

77

 

25 East Main St.

Lansdale

PA

Citizens Bank of Pennsylvania

3,800

 

78

 

1055 West Baltimore Pike

Lima

PA

Citizens Bank of Pennsylvania

3,800

 

79

 

4947 North BRd. St.

Philadelphia

PA

Citizens Bank of Pennsylvania

3,800

 

80

 

2001-03 BRd. St.

Philadelphia

PA

Citizens Bank of Pennsylvania

3,800

 

81

 

6201 North 5th St.

Philadelphia

PA

Citizens Bank of Pennsylvania

3,800

 

82

 

7323-29 Frankford Ave.

Philadelphia

PA

Citizens Bank of Pennsylvania

3,800

 

83

 

15 South 52nd St.

Philadelphia

PA

Citizens Bank of Pennsylvania

3,800

 

84

 

10650 Bustleton Ave.

Philadelphia

PA

Citizens Bank of Pennsylvania

3,800

 

85

 

1025 West Lehigh Ave.

Philadelphia

PA

Citizens Bank of Pennsylvania

3,800

 

86

 

2014 Cottman Ave.

Philadelphia

PA

Citizens Bank of Pennsylvania

3,800

 

87

 

4160 Monument Rd.

Philadelphia

PA

Pathmark Stores, Inc.

50,000

 

88

 

15 Newton – Richboro Rd.

Richboro

PA

Citizens Bank of Pennsylvania

3,800

 

89

 

363 West Lancaster Ave.

Wayne, PA

PA

Citizens Bank of Pennsylvania

3,800

 

90

 

399 Peach Wood Centre Dr.

Spartanburg

SC

Best Buy Co., Inc.

45,800

 

91

 

S. Carlina 52/52 Bypass

Moncks Corner

SC

Food Lion, Inc.

23,000

 

92

 

1600 East 23rd St.

Chattanooga

TN

The Kroger Co.

42,130

 

93

 

1053 Mineral Springs Raod

Paris

TN

The Kroger Co.

31,170

 

94

 

3040 Josey Lane

Carrollton

TX

Ong’s Family Inc.

61,000

 

95

 

4121 South Port Ave.

Corpus Christi

TX

Furrs Cafeterias Operators LP

10,000

 

96

 

1610 South Westmoreland Ave.

Dallas

TX

Malone’s Food Stores

68,024

 

97

 

8960 Dyer St.

El Paso

TX

CSK Auto (Albertsons Inc.)

2,625

 

98

 

6100 Alameda Ave.

El Paso

TX

CSK Auto (Albertsons Inc.)

2,800

 

99

 

119 North Balboa Rd.

El Paso

TX

Furrs Cafeterias Operators LP

10,000

 

100

 

3451 Alta Mesa Blvd.

Fort Worth

TX

Safeway Stores, Inc.

44,000

 

101

 

101 West Buckingham Rd.

Garland

TX

Safeway Stores, Inc.

40,000

 

102

 

1415 Hwy. 377 East

Granbury

TX

Safeway Stores, Inc.

35,000

 

103

 

2500 E. Carrier Pkwy.

Grand Prairie

TX

Safeway Stores, Inc.

49,349

 

104

 

4811 Wesley St.

Greenville

TX

Safeway Stores, Inc.

48,427

 

105

 

120 South Waco St.

Hillsboro

TX

Safeway Stores, Inc.

35,000

 

106

 

13133 Steubner Ave

Houston

TX

The Kroger Co.

52,200

 

107

 

3322 82nd St.

Lubbock

TX

CSK Auto (Albertsons Inc.)

2,550

 

108

 

5402 4th St.

Lubbock

TX

VACANT

53,820

 

109

 

901 West Expressway

McAllen

TX

Furrs Cafeterias Operators LP

10,000

 

Page 16

 


LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

 

 

Property Location

City

State

Primary Tenant (Guarantor)

Property Net Rentable Sq.Ft.

 

110

 

25500 State Hwy 249

Tomball

TX

Parkway Chevrolet, Inc.

77,076

 

111

 

402 East Crestwood Dr.

Victoria

TX

Furrs Cafeterias Operators LP

10,000

 

112

 

9400 South 755 East

Sandy

UT

VACANT

41,612

 

113

 

3211 W. Beverly St.

Staunton

VA

Food Lion, Inc.

23,000

 

114

 

9803 Edmonds Way

Edmonds

WA

VACANT

35,459

 

115

 

224th St. & Meridan

Graham

WA

Safeway Stores, Inc.

44,718

 

116

 

18601 Alderwood Mall Blvd.

Lynwood

WA

Toys “R” Us, Inc.

43,105

 

117

 

Meridan & 65th

Milton

WA

Safeway Stores, Inc.

44,718

 

118

 

1700 State Route 160

Port Orchard

WA

Jubilee Fun

27,968

 

119

 

228th Ave., N.E.

Redmond

WA

Safeway Stores, Inc.

44,718

 

120

 

4512 N Market

Spokane

WA

Safeway Stores, Inc

38,905

 

121

 

3711 Gateway Dr.

Eau Claire

WI

Kohl’s Dept. Stores, Inc.

76,164

 

122

 

3621 E Lincoln Way

Cheyenne

WY

VACANT

31,420

 

123

 

849 Front St.

Evanston

WY

Bank of the West

7,206

 

123

 

Consolidated Retail / Other Properties Total

 

 

5,277,498

 

 

 

 

 

 

 

 

 

304

 

Consolidated Portfolio Total

 

 

 

43,308,409

 

Page 17

 


LEXINGTON REALTY TRUST

Joint Venture Property Holdings

3/31/2007

 

LXP
Ownership

Property Location

City

State

Primary Tenant (Guarantor)

Property Net
Rentable
Sq. Ft.

 

 

JOINT VENTURE OFFICE PROPERTIES

 

 

 

 

1

30.51%

Route 64 West & Junction 333

Russellville

AR

Entergy Gulf States

191,950

2

25.00%

275 South Valencia Ave.

Los Angeles

CA

Bank of America NT & SA

637,503

3

30.00%

350 Rhode Island St.

San Francisco

CA

California Culinary Academy, LLC (Career Education Corp.)

125,344

4

30.00%

100 Wood Hollow Dr.

Novato

CA

Greenpoint Mortgage Funding, Inc.

124,600

5

30.00%

10940 White Rock Rd. / 10929 Disk Dr.

Rancho Cordova

CA

Progressive Casualty Insurance Company

158,582

6

30.00%

27027 Tourney Rd.

Santa Clarita

CA

Specialty Laboratories, Inc.

187,262

7

33.33%

1110 Bayfield Dr.

Colorado Springs

CO

Honeywell International, Inc.

166,575

8

30.00%

9201 East Dry Creek Rd.

Centennial

CO

The Shaw Group, Inc.

128,500

9

33.33%

600 Business Center Dr.

Lake Mary

FL

First USA Management Services, Inc.

125,155

10

33.33%

550 Business Center Dr.

Lake Mary

FL

First USA Management Services, Inc.

125,920

11

25.00%

2500 Patrick Henry Pkwy

McDonough

GA

Georgia Power Company

111,911

12

25.00%

3265 East Goldstone Dr.

Meridian

ID

Voicestream PCS II Corporation (T-Mobile USA, Inc.)

77,484

13

30.00%

101 East Erie Building

Chicago

IL

Foote, Cone & Belding (Interpublic Group of Companies, Inc.)

224,565

14

25.11%

101 East Washington Blvd.

Fort Wayne

IN

American Electric Power

348,452

15

33.33%

10300 Kincaid Dr.

Fishers

IN

Bank One Indiana, N.A.

193,000

16

25.00%

5200 Metcalf Ave.

Overland Park

KS

GE Insurance Solutions (Employers Reinsurance Corporation)

320,198

17

25.00%

9601 Renner Blvd.

Lenexa

KS

Voicestream PCS II Corporation (T-Mobile USA, Inc.)

77,484

18

30.00%

4455 American Way

Baton Rouge

LA

Bell South Mobility, Inc.

70,100

19

25.00%

First Park Dr.

Oakland

ME

Omnipoint Holdings, Inc. (T-Mobile USA, Inc.)

78,610

20

33.33%

3701 Corporate Dr.

Farmington Hills

MI

Motorola, Inc.

119,829

21

25.00%

9201 Stateline

Kansas City

MO

GE Insurance Solutions (Employers Reinsurance Corporation)

166,641

22

30.00%

200 Lucent Ln.

Cary

NC

Lucent Technologies, Inc.

124,944

23

25.00%

3601 Converse Dr.

Wilmington

NC

Verizon Wireless

160,500

24

33.33%

389-399 Interpace Hwy. Morris Corporate Center IV

Parsippany

NJ

Aventis Pharmaceuticals, Inc (Pharma Holdings GmbH)

340,240

25

33.33%

2000 Eastman Dr.

Milford

OH

Structural Dynamic Research Corp.

212,836

26

40.00%

3201 Quail Springs Pkwy.

Oklahoma City

OK

AT& T Wireless Services, Inc.

128,500

27

30.00%

275 Technology Dr.

Canonsburg

PA

ANSYS, Inc.

107,872

28

30.00%

70 Valley Stream Parkway

Malvern

PA

IKON Office Solutions, Inc.

106,855

29

30.00%

1475 Dunwoody Dr.

West Chester

PA

ING USA Annuity and Life Insurance Company

125,000

30

40.00%

17 Technology Cir.

Columbia

SC

Blue Cross Blue Shield of South Carolina Inc.

456,304

31

30.00%

2050 Roanoke Rd.

Westlake

TX

Chrysler Financial Company LLC

130,290

32

30.00%

11511 Luna Rd.

Farmers Branch

TX

Haggar Clothing Company

180,507

Page 18

 


LEXINGTON REALTY TRUST

Joint Venture Property Holdings

3/31/2007

 

LXP
Ownership

Property Location

City

State

Primary Tenant (Guarantor)

Property Net
Rentable
Sq. Ft.

33

25.00%

4001 International Pkwy.

Carrollton

TX

Motel 6 Operating L.P. (Accor S.A.)

138,443

34

30.00%

8900 Freeport Pkwy

Irving

TX

Nissan Motor Acceptance Corporation/ (Nissan North America, Inc.)

268,445

35

25.00%

1401 & 1501 Nolan Ryan Parkway

Arlington

TX

Siemens Dematic Postal Automation, L.P.

236,547

36

33.33%

6555 Sierra Dr.

Irving

TX

True North Communications Inc.

247,254

37

33.33%

15375 Memorial Dr.

Houston

TX

Vastar Resources, Inc

327,325

38

30.00%

10300 Town Park Dr.

Houston

TX

Veritas DGC, Inc.

218,641

39

30.00%

3711 San Gabriel

Mission

TX

Voice Stream PCS II Corporation (T-Mobile USA, Inc.)

75,016

40

30.00%

110, 120 & 130 E. Shore Dr.

Glen Allen

VA

Capital One Services, Inc.

225,220

41

30.00%

13775 McLearen Rd.

Herndon

VA

Equant N.V.

125,293

42

25.00%

5150 220th Ave.

Issaquah

WA

Spacelabs Medical, Inc (OSI Systems, Inc.)

106,944

43

25.00%

22011 SE 51st St.

Issaquah

WA

Spacelabs Medical, Inc (OSI Systems, Inc.)

95,600

43

 

Joint Venture Office Properties Total

 

 

 

7,898,241

 

 

 

 

 

 

 

 

 

JOINT VENTURE INDUSTRIAL PROPERTIES

1

30.00%

3245 Meridian Parkway

Weston

FL

Circuit City Stores, Inc.

230,600

2

30.00%

3225 Meridian Parkway

Weston

FL

Hagemeyer Foods, Inc.

201,845

3

30.00%

3600 Army Post Rd.

Des Moines

IA

EDS Information Services LLC (Electronic Data Systems Corporation)

405,000

4

30.00%

2400 West Haven Ave.

New Lenox

IL

Michaels Stores Procurement Company, Inc. (Michaels Stores, Inc.)

693,185

5

33.33%

7111 Crabb Rd.

Temperance

MI

TNT Logistics North America, Inc. (TPG N.V.)

752,000

6

30.00%

43955 Plymouth Oaks Blvd.

Plymouth

MI

Tower Automotive Products Company (Tower Automotive, Inc.)

290,133

7

33.33%

121 Technology Dr.

Durham

NH

Heidelberg Web Systems, Inc.

500,500

8

30.00%

1109 Commerce Blvd.

Logan Township

NJ

Linens-n-Things, Inc.

262,644

9

30.00%

736 Addison Rd.

Erwin

NY

Corning, Inc.

408,000

10

25.00%

10345 Philipp Parkway

Streetsboro

OH

L’Oreal USA, Inc.

649,250

11

33.33%

101 Michelin Dr.

Laurens

SC

TNT Logistics North America, Inc. (TPG N.V.)

1,164,000

12

30.00%

6050 Dana Way

Antioch

TN

W.M Wright Company

647,400

 

 

 

 

 

VACANT

30,000

13

33.33%

291 Park Center Dr.

Winchester

VA

Kraft Foods North America, Inc.

344,700

13

 

Joint Venture Industrial Properties Total

 

 

 

6,579,257

 

 

 

 

 

 

 

Page 19

 


LEXINGTON REALTY TRUST

Joint Venture Property Holdings

3/31/2007

 

LXP
Ownership

Property Location

City

State

Primary Tenant (Guarantor)

Property Net
Rentable
Sq. Ft.

 

 

JOINT VENTURE RETAIL/OTHER PROPERTIES

 

 

 

 

1

30.00%

12080 Carmel Mountain Rd.

San Diego

CA

Kmart Corporation

107,210

2

30.00%

255 Northgate Dr.

Manteca

CA

Kmart Corporation

107,489

3

30.00%

1150 West Carl Sandburg Dr.

Galesburg

IL

Kmart Corporation

94,970

4

30.00%

21082 Pioneer Plaza Dr.

Watertown

NY

Kmart Corporation

120,727

5

30.00%

5350 Leavitt Rd.

Lorain

OH

Kmart Corporation

193,193

6

23.98%

1321 Commerce St.

Dallas

TX

Adolphus Associates (Met Life)

498,122

7

30.00%

97 Seneca Trail

Fairlea

WV

Kmart Corporation

90,933

7

 

Joint Venture Retail / Other Properties Total

 

 

 

1,212,644

 

 

 

 

 

 

 

63

 

Joint Venture Portfolio Total

 

 

 

15,690,142

Page 20

 


Lexington Realty Trust

Lease Rollover Schedule by Property Type - Cash Basis

3/31/2007

 

 

 

 

 

 

 

 

 

 

 

 

 

Office

 

Industrial

 

Retail

 

Square

Cash Rental

Rent

 

Square

Cash Rental

Rent

 

Square

Cash Rental

Rent

Year

Feet

Revenue* 

PSF

 

Feet

Revenue* 

PSF

 

Feet

Revenue* 

PSF

 

 

 

 

 

 

 

 

 

 

 

 

2007

562,694 

$               13,356 

$   24.43 

 

2,597,072 

$               13,329 

$     5.44 

 

40,000 

$                    682 

$   17.05 

2008

2,525,852 

$               34,272 

$   20.63 

 

1,463,579 

$                    146 

$     7.61 

 

501,559 

$                 6,777 

$   13.84 

2009

2,858,244 

$               50,037 

$   21.65 

 

883,966 

$                 2,085 

$     3.34 

 

1,213,603 

$                 9,493 

$   15.36 

2010

2,300,355 

$               19,809 

$   13.51 

 

1,885,413 

$                 5,773 

$     3.06 

 

90,800 

$                    590 

$     6.50 

2011

1,608,948 

$               15,815 

$   15.32 

 

1,251,535 

$                    536 

$     4.67 

 

511,164 

$                 4,081 

$     7.98 

2012

1,963,179 

$               19,396 

$   12.69 

 

4,707,134 

$               11,007 

$     4.15 

 

738,425 

$                 5,272 

$     7.16 

2013

1,957,103 

$               23,878 

$   15.53 

 

202,086 

$                 3,982 

$   19.70 

 

154,600 

$                 1,419 

$     9.18 

2014

2,716,818 

$               34,844 

$   16.51 

 

1,055,160 

$                 3,927 

$     3.72 

 

267,337 

$                    496 

$     1.85 

2015

2,274,294 

$               21,072 

$   14.00 

 

1,372,370 

$                 7,514 

$     5.53 

 

76,164 

$                    469 

$     6.15 

2016

1,198,136 

$               10,162 

$   16.78 

 

1,655,158 

$                 6,180 

$     4.20 

 

225,919 

$                 1,600 

$     7.08 

2017

232,534 

$                 2,420 

$   13.57 

 

1,788,022 

$                 6,497 

$     4.04 

 

119,706 

$                    473 

$     3.95 

2018

740,924 

$                 5,955 

$   12.34 

 

744,800 

$                 1,347 

$     1.81 

 

1,943,876 

$                 4,668 

$     3.85 

2019

1,680,720 

$               19,366 

$   15.13 

 

1,412,025 

$                 4,121 

$     4.41 

 

-   

$                        - 

$         -

2020

344,659 

$                 5,214 

$   18.53 

 

666,037 

$                 4,892 

$     7.51 

 

-   

$                        - 

$         -  

2021

420,926 

$                 8,324 

$   19.78 

 

1,928,504 

$                 7,607 

$     4.31 

 

61,000 

$                    361 

$     5.92 

2022

-   

$                         -

$         -

 

-

$                         -

$         -

 

-

$                        -

$          -

2023

-   

$                         -

$         -

 

-

$                         -

$         -

 

-

$                        -

$          -

2024

187,262 

$                 1,069 

$   19.02 

 

693,185 

$                    568 

$     2.73 

 

-   

$                        - 

$         -  

2025

146,800 

$                 2,088 

$   15.63 

 

2,140,254 

$                 9,802 

$     3.20 

 

-   

$                        - 

$         -  

2026

-   

$                         -

$         -

 

1,146,500

$                 2,895

$     3.27

 

77,076

$                 1,624

$   23.16

2027

-   

$                         -

$         -

 

-

$                         -

$         -

 

-

$                        -

$          -

2028

-   

$                         -

$         -

 

-

$                         -

$         -

 

-

$                        -

$          -

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

$   16.66 

 

 

 

$     4.40 

 

 

 

$     8.35 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue in $000s

 

 

 

 

 

 

 

 

 

 

* Includes proportionate share of joint venture investments

 

 

 

 

 

 

 

Page 21

 


LEXINGTON REALTY TRUST

Lease Rollover Schedule  GAAP Basis

3/31/2007

($000s)

 

Lease Expiration
Year

 

Number of Leases
Expiring

 

Annualized Base Rent

 

 

 

 

Total $ (1)

 

% of Total

 

 

2007

 

35

 

$       28,551 

 

6.4%

 

 

2008

 

72

 

$       61,633 

 

13.9%

 

 

2009

 

67

 

$       60,908 

 

13.7%

 

 

2010

 

33

 

$       27,597 

 

6.2%

 

 

2011

 

31

 

$       22,898 

 

5.2%

 

 

2012

 

43

 

$       34,192 

 

7.7%

 

 

2013

 

28

 

$       35,527 

 

8.0%

 

 

2014

 

27

 

$       36,213 

 

8.2%

 

 

2015

 

23

 

$       31,042 

 

7.0%

 

 

2016

 

20

 

$       17,062 

 

3.8%

 

 

2017

 

9

 

$         7,370 

 

1.7%

 

 

2018

 

14

 

$       14,856 

 

3.4%

 

 

2019

 

18

 

$       22,793 

 

5.1%

 

 

2020

 

7

 

$         9,627 

 

2.2%

 

 

2021

 

10

 

$       15,867 

 

3.6%

 

 

2022

 

0

 

$               -   

 

-

 

 

2023

 

0

 

$               -   

 

-

 

 

2024

 

2

 

$         1,679 

 

0.4%

 

 

2025

 

8

 

$       12,096 

 

2.7%

 

 

2026

 

2

 

$         3,580 

 

0.8%

 

 

Total

 

449

 

$     443,491 

 

100.0%

 

 

 

 

 

 

 

 

 

 

 

Lease Expiration Year

 

Lease Estimated Amortization

 

 

 

Below Market

 

Above Market

 

Net

 

 

2007 - remaining

 

$                13,077 

 

$      (27,276)

 

$      (14,199)

 

 

2008

 

$                15,651 

 

$      (29,922)

 

$      (14,271)

 

 

2009

 

$                15,548 

 

$      (10,868)

 

$         4,680 

 

 

2010

 

$                14,831 

 

$           (706)

 

$       14,125 

 

 

2011

 

$                14,590 

 

$           (706)

 

$       13,884 

 

 

 

 

 

 

 

 

 

 

 

(1) Includes proportionate share of joint venture investments.

 

 

 

 

 

 

 

 

 

 

 

 

Page 22

 


LEXINGTON REALTY TRUST

Motgages and Notes Payable

3/31/2007

($000s)

Property

Footnotes

Debt Balance

Interest Rate

Maturity

Current Est.
Annual Debt
Service (d)

Balloon
Payment

Warren, Ohio

(a) (b)

$               5,851

7.000%

Oct-07

$          6,160

$               -  

Bristol, PA

 

9,359

7.400%

Feb-08

831

9,262

Garwood, NJ

 

186

5.000%

May-08

100

-  

Decatur, GA

 

6,229

6.720%

Jun-08

579

6,049

Palm Beach Gardens, FL

 

10,704

7.010%

Jun-08

970

10,418

Canton, OH

 

3,062

7.150%

Aug-08

313

2,936

Spartanburg, SC

 

2,543

7.150%

Aug-08

260

2,438

Irvine, CA

 

7,884

9.339%

Sep-08

5,653

-  

New Orleans, LA

 

5,802

6.930%

Sep-08

4,084

-  

New Orleans, LA

 

4,612

6.930%

Sep-08

3,246

-  

Owensboro, KY

 

6,104

7.940%

Dec-08

3,361

-  

Clinton, CT

 

943

7.940%

Dec-08

519

-  

Columbia, MD

 

1,097

8.625%

Dec-08

297

719

Long Beach, CA

 

7,753

6.160%

Jan-09

4,180

-  

Long Beach, CA

 

20,913

6.250%

Jan-09

11,286

-  

Canton, OH

 

677

9.490%

Feb-09

388

-  

Florence, SC

 

8,827

7.500%

Feb-09

869

8,443

Baton Rouge, LA

 

1,648

7.375%

Mar-09

208

1,478

Bristol, PA

 

5,570

7.250%

Apr-09

571

5,228

Livonia, MI

 

10,572

7.800%

Apr-09

992

10,236

Henderson, NC

 

4,090

7.390%

May-09

417

3,854

Westland, MI

 

1,496

10.500%

Sep-09

683

-  

Salt Lake City, UT

 

6,548

7.610%

Oct-09

2,901

-  

High Point, NC

 

8,317

5.750%

Oct-09

695

7,741

Pleasanton, CA

 

4,589

10.250%

Dec-09

727

3,808

San Francisco, CA

 

23,102

3.893%

Dec-09

1,750

20,000

Richmond, VA

 

15,898

8.100%

Feb-10

1,511

15,257

Hampton, VA

 

4,323

8.260%

Apr-10

415

4,144

Hampton, VA

 

7,049

8.270%

Apr-10

677

6,758

Tampa, FL

 

5,801

6.880%

Aug-10

485

5,495

Tampa, FL

 

8,023

6.930%

Aug-10

674

7,603

Herndon, VA

 

18,200

8.180%

Dec-10

1,723

17,301

Tucson, AZ

 

2,293

7.500%

Jan-11

226

2,076

Valley Forge, PA

 

12,225

7.120%

Feb-11

1,166

10,927

NK Marc CAA

 

3,440

6.500%

Mar-11

286

3,178

Glendale, AZ

 

14,228

7.400%

Apr-11

1,258

13,365

Renswoude, NA

 

36,056

5.305%

Apr-11

2,638

33,028

Dallas, TX

 

30,582

5.126%

May-11

1,594

30,582

Wallingford, CT

 

3,408

4.926%

May-11

221

3,187

Auburn Hills, MI

 

6,717

7.010%

Jun-11

637

5,918

Plymouth, MI

 

4,486

7.960%

Jul-11

421

4,171

Newport, OR

 

6,610

5.030%

Aug-11

470

5,980

New Kingston, PA

 

6,882

7.790%

Jan-12

678

6,101

Mechanicsburg, PA

 

5,080

7.780%

Jan-12

500

4,503

New Kingston, PA

 

3,279

7.780%

Jan-12

323

2,906

Greenville, SC

 

13,119

4.415%

Jan-12

841

11,806

Lake Forest, CA

 

10,451

7.260%

Feb-12

901

9,708

Memphis, TN

 

17,610

5.247%

May-12

1,181

16,222

Lakewood, CO

 

8,585

5.097%

May-12

566

7,890

Groveport, OH

 

7,525

6.030%

Oct-12

563

6,860

San Antonio, TX

 

29,025

6.080%

Oct-12

2,260

26,025

Foxboro, MA

(b)

14,182

6.000%

Jan-13

2,817

-  

Page 23

 


Property

Footnotes

Debt Balance

Interest Rate

Maturity

Current Est.
Annual Debt
Service (d)

Balloon
Payment

Fort Mill, SC

 

11,029

6.000%

Jan-13

839

9,904

Waterloo,IA

 

5,814

5.610%

Feb-13

672

3,505

Indianapolis, IN

 

9,519

5.168%

May-13

633

8,580

Fort Meyers, FL

 

8,912

5.268%

May-13

477

8,550

Houston, TX

 

17,444

5.218%

May-13

1,166

15,737

Atlanta, GA

 

44,690

5.268%

May-13

3,004

40,356

Chelmsford, MA

 

6,928

5.118%

May-13

458

6,231

Southington, CT

 

13,604

5.018%

May-13

890

12,228

Tempe, AZ

 

13,479

5.148%

May-13

894

12,144

Knoxville, TN

 

5,073

5.950%

Sep-13

381

4,496

Lancaster, CA

 

10,084

7.020%

Sep-13

900

8,637

Lancaster, CA

 

8,518

5.920%

Sep-13

642

7,518

Phoenix, AZ

 

19,061

6.270%

Sep-13

1,527

16,490

Foxboro, MA

(b)

18,536

6.000%

Jan-14

3,270

-  

Moody, AL

 

7,333

4.978%

Jan-14

493

6,350

Mechanicsburg, PA

 

13,053

5.730%

Mar-14

1,045

10,538

Redmond, OR

 

9,713

5.616%

Apr-14

697

8,484

Clive, IA

 

5,846

5.139%

May-14

387

5,151

Fort Mill, SC

 

20,300

5.373%

May-14

1,217

18,311

Eau Claire, WI

 

1,719

8.000%

Jul-14

313

-  

Philadelphia, PA

 

49,000

5.060%

Jul-14

2,959

43,547

Carrollton, TX

 

14,085

5.530%

Jan-15

993

12,022

Franklin, NC

 

1,567

8.500%

Mar-15

271

-  

Richmond, VA

 

10,481

5.310%

May-15

708

9,055

Harrisburg, PA

 

9,065

5.110%

May-15

599

7,780

Fishers, IN

 

13,019

5.160%

May-15

865

11,188

Houston, TX

 

13,092

5.210%

May-15

874

11,265

Atlanta, GA

 

11,325

5.260%

May-15

606

10,502

San Antonio, TX

 

12,915

5.340%

May-15

875

11,149

Houston, TX

 

16,767

5.160%

May-15

1,114

14,408

Los Angeles, CA

 

11,356

5.110%

May-15

750

9,760

Kalamazoo, MI

 

17,418

5.411%

May-15

1,189

15,087

Knoxville, TN

 

7,706

5.310%

May-15

520

6,658

Jacksonville, FL

(a)

5,738

5.110%

May-15

379

4,927

Tulsa, OK

 

7,591

5.060%

May-15

499

6,517

Rockaway, NJ

 

14,900

5.292%

May-15

799

14,900

Elizabethtown, KY

 

16,204

4.990%

Jul-15

1,068

13,730

Elizabethtown, KY

 

3,054

4.990%

Jul-15

201

2,587

Hopkinsville, KY

 

9,490

4.990%

Jul-15

626

8,041

Owensboro, KY

 

6,859

4.990%

Jul-15

452

5,811

Dry Ridge, KY

 

7,676

4.990%

Jul-15

506

6,504

Southborough, MA

 

1,723

7.500%

Sep-15

275

-  

Houston, TX

(b)

25,608

6.250%

Sep-15

3,967

6,985

Sugarland, TX

(b)

16,372

6.250%

Sep-15

2,608

6,286

Houston, TX

(b)

7,218

6.250%

Sep-15

1,057

2,222

Houston, TX

(b)

62,342

6.250%

Sep-15

9,087

18,318

Temple, TX

 

8,849

6.090%

Jan-16

668

7,446

Danville, IL

 

6,261

9.000%

Jan-16

692

4,578

Bridgewater, NJ

 

14,805

5.732%

Mar-16

860

13,824

Bremerton, WA

 

6,541

6.090%

Apr-16

494

5,465

Omaha, NE

 

8,888

5.610%

Apr-16

621

7,560

Tempe, AZ

 

8,395

5.610%

Apr-16

586

7,140

Page 24

 


LEXINGTON REALTY TRUST

Motgages and Notes Payable

3/31/2007

($000s)

Property

Footnotes

Debt Balance

Interest Rate

Maturity

Current Est.
Annual Debt
Service (d)

Balloon
Payment

Lisle, IL

 

10,450

6.500%

Jun-16

688

9,325

Rockford, IL

 

6,900

6.210%

Aug-16

434

6,153

Statesville, NC

 

14,100

6.210%

Aug-16

888

12,574

Rochester, NY

 

18,800

6.210%

Aug-16

1,184

16,765

Glenwillow, OH

 

17,000

6.130%

Sep-16

1,057

15,132

Plymouth, IN

 

6,633

6.315%

Sep-16

497

5,723

Tomball, TX

 

9,380

6.063%

Nov-16

683

8,023

El Segundo, CA

 

54,824

5.675%

Dec-16

3,820

45,723

Memphis, TN

 

3,951

5.710%

Jan-17

229

3,484

Dubuque, IA

 

10,707

5.402%

Jun-17

733

8,725

McDonough, GA

 

23,000

6.110%

Nov-17

1,425

21,651

Westmont, IL

 

15,137

6.210%

Mar-18

1,292

9,662

Houston, TX

 

7,500

6.507%

Nov-19

496

6,692

Boca Raton, FL

 

20,400

6.470%

Feb-20

1,342

18,383

Houston, TX

 

9,846

5.640%

Dec-20

692

7,018

Livonia, GA

 

9,847

5.460%

Dec-20

741

5,895

Wall Township, NJ

(b)

29,514

6.250%

Jan-21

2,130

-

Hilliard,OH

 

28,960

5.907%

Feb-21

1,739

27,483

Whippany, NJ

 

16,830

6.298%

Nov-21

1,344

10,400

Dillon, SC

 

23,268

5.974%

Feb-22

1,832

13,269

El Segundo, CA

 

13,577

4.860%

Jan-24

54

11,417

El Segundo, CA

 

16,594

4.860%

Jan-24

66

13,955

Chester, SC

 

13,339

5.380%

Aug-25

1,144

362

Charleston, SC

 

7,350

5.850%

Feb-21

437

6,632

Orlando, FL

 

9,975

5.722%

Feb-17

580

9,309

 

 

1,538,402

5.954%

 

160,272

1,155,828

 

 

 

 

 

 

 

Property - Variable Rate

 

 

 

 

 

 

 

 

-

-

 

-

-

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

Credit Facility

(c)

-

-

Jun-08

-

-

Trust Preferred Notes

 

200,000

6.804%

Apr-37

13,608

200,000

Exchangeable Notes

(e)

450,000

5.450%

Jan-27

24,525

450,000

 

 

 

 

 

 

 

Total

 

$2,188,402

5.928%

 

$198,405

$1,805,828

 

(a)     Included in discontinued operations.

 

 

 

 

(b)    Debt balances based upon imputed interest rates.

 

 

 

(c)     Floating rate debt 30/60/90 day LIBOR plus 120 to 170 bps.

 

 

 

(d)     Remaining payments for debt with less than 12 months to maturity, all others are debt service for next 12 months.

(e)     Holders have the right to put notes to the Company commencing 2012 and every five years thereafter.

Page 25

 


LEXINGTON REALTY TRUST

Mortgages Payable- Joint Venture Properties

3/31/2007

($000s)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

LXP

 

 

Estimated

 

 

 

 

Proportionate

Interest

 

Annual Debt

Balloon

Joint Venture Property

Footnotes

Debt Balance

Share

Rate

Maturity

Service

Payment

Russellville, AR

 

$        1,281

$                  391

6.850%

May-08

$                 913

$               -  

Dallas, TX

 

21,800

5,228

6.680%

Jun-09

9,614

-  

Santa Clarita, CA

 

28,200

8,460

4.750%

Oct-09

1,340

28,200

Columbia, SC

 

23,451

9,380

7.850%

Oct-09

2,196

22,586

Houston, TX

 

19,705

6,568

7.580%

Oct-09

2,032

18,229

Fishers, IN

 

14,092

4,697

8.190%

Apr-10

1,499

12,960

Lorain, OH

(4)

2,709

813

6.000%

Jul-10

873

-  

Manteca, CA

(4)

1,913

574

6.000%

Jul-10

617

-  

Watertown, NY

(4)

1,799

540

6.000%

Jul-10

580

-  

Fairlea, WV

(4)

1,264

379

6.000%

Jul-10

407

-  

San Diego, CA

(4)

1,219

366

6.000%

Jul-10

393

-  

Galesburg, IL

(4)

1,074

322

6.000%

Jul-10

346

-  

Irving, TX

 

25,657

8,552

8.160%

Oct-10

2,432

24,454

Lake Mary, FL

 

12,760

4,253

7.880%

Oct-10

1,181

12,118

Lake Mary, FL

 

12,722

4,241

7.880%

Oct-10

1,178

12,082

Parsippany, NJ

 

39,434

13,144

7.350%

Mar-11

3,472

37,047

Novato, CA

 

21,839

6,552

5.750%

Jul-11

1,600

20,307

Winchester, VA

 

10,380

3,460

7.330%

Aug-11

908

9,675

Milford, OH

 

15,765

5,255

8.170%

Feb-12

1,817

12,686

Des Moines, IA

 

22,761

6,828

5.147%

May-12

1,188

22,153

Fort Worth, TX

 

19,399

5,820

5.097%

May-12

1,280

17,823

Raleigh, NC

 

12,900

3,870

4.947%

May-12

649

12,543

Farmington Hills, MI

 

20,145

6,715

5.420%

Sep-12

1,500

17,724

Laurens, SC

 

16,513

5,504

6.000%

Sep-12

1,396

14,022

Temperance, MI

 

11,070

3,690

6.000%

Sep-12

936

9,400

Baton Rouge, LA

 

6,659

1,998

4.900%

Oct-12

443

5,943

Plymouth, MI

 

11,945

3,584

6.220%

Dec-12

1,026

10,026

Colorado Springs, CO

 

11,386

3,795

6.250%

Dec-12

887

10,272

Centennial, CO

 

15,235

4,571

6.150%

Feb-13

1,177

13,555

Los Angeles, CA

 

80,182

20,045

5.330%

May-13

5,270

73,071

Dallas, TX

 

40,420

12,126

5.218%

May-13

2,702

36,453

Malvern, PA

 

12,814

3,844

5.530%

Jan-14

916

11,236

Arlington, TX

 

21,136

5,284

5.810%

Feb-14

1,551

18,588

New Lenox, IL

 

17,400

5,220

5.510%

Feb-14

975

17,400

Logan Township, NJ

 

7,690

2,307

4.760%

Apr-14

473

6,784

Rancho Cordova, CA

(4)

18,103

5,431

6.000%

Sep-14

1,457

14,646

Weston, FL

 

10,518

3,155

5.420%

Nov-14

733

9,066

Issaquah, WA

 

32,800

8,200

5.001%

Dec-14

1,668

30,388

Canonsburg, PA

 

9,095

2,729

5.377%

Dec-14

489

9,095

Chicago, IL

 

29,900

8,970

5.105%

Jan-15

1,552

29,900

Herndon, VA

 

12,031

3,609

5.920%

Apr-15

888

10,359

Richmond, VA

 

19,800

5,940

5.110%

May-15

1,029

18,321

Oklahoma City, OK

 

14,749

5,900

5.240%

May-15

784

13,673

McDonough, GA

 

12,675

3,169

5.212%

Jun-15

672

11,349

Mission, TX

 

6,320

1,896

5.780%

Jun-15

462

5,371

Carrollton, TX

 

20,800

5,200

5.274%

Jul-15

1,115

18,677

Houston, TX

 

23,910

7,172

5.410%

Oct-15

1,315

21,846

Dallas, TX

 

18,363

5,509

6.100%

Jul-16

1,139

18,363

Fort Wayne, IN

 

21,057

5,288

9.375%

Oct-16

3,344

-  

Fort Wayne, IN

 

13,495

3,389

10.625%

Nov-16

2,239

-  

Page 26

 


LEXINGTON REALTY TRUST

Mortgages Payable- Joint Venture Properties

3/31/2007

($000s)

 

 

 

 

 

 

Current

 

 

 

 

LXP

 

 

Estimated

 

 

 

 

Proportionate

Interest

 

Annual Debt

Balloon

Joint Venture Property

Footnotes

Debt Balance

Share

Rate

Maturity

Service

Payment

Wilmington, NC

 

13,000

3,250

5.190%

Mar-17

686

11,580

Weston, FL

 

7,268

2,180

5.520%

Nov-17

512

5,758

Lorain, OH

(4)

1,450

435

6.000%

Jul-18

108

-  

Manteca, CA

(4)

1,024

307

6.000%

Jul-18

77

-  

Watertown, NY

(4)

963

289

6.000%

Jul-18

72

-  

Fairlea, WV

(4)

676

203

6.000%

Jul-18

51

-  

San Diego, CA

(4)

653

196

6.000%

Jul-18

49

-  

Galesburg, IL

(4)

575

173

6.000%

Jul-18

43

-  

Erwin, NY

 

9,416

2,825

5.910%

Oct-18

728

6,624

Dallas, TX

 

12,512

3,000

15.000%

Dec-18

1,877

-  

Overland Park, KS

 

37,620

9,405

5.830%

May-19

2,230

31,819

Kansas City, MO

 

17,950

4,488

5.830%

May-19

1,064

15,182

West Chester, PA

 

10,020

3,006

6.750%

Jul-19

1,204

-  

Meridian, ID

 

10,125

2,531

6.010%

Aug-19

753

7,658

Streetsboro, OH

 

20,200

5,050

5.285%

Sep-19

1,085

16,338

San Fransisco, CA

 

22,080

6,624

5.580%

Nov-19

1,253

18,002

Lenexa, KS

 

10,194

2,549

6.270%

Dec-19

774

7,755

Oakland, ME

 

10,314

2,579

5.930%

Oct-20

750

7,660

Durham, NH

 

19,182

6,394

6.730%

Mar-21

1,309

-  

Antioch, TN

 

13,731

4,119

7.940%

Oct-21

1,580

774

Subtotal/Wtg. Avg. Proportionate Share

1,067,288

313,536

6.226%

 

90,858

847,541

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

Warehouse facility

(1)

57,813

28,906

5.640%

Jun-07

3,261

57,813

Warehouse facility

(2)

139,118

69,559

6.057%

Mar-08

8,426

139,118

CDO

(3)

376,650

188,325

5.825%

Dec-46

21,940

376,650

Total/Wtg. Avg. Proportionate Share

$       600,326

$       600,326

6.053%

 

$       124,485

$    1,421,122

 

(1) Represents amount outstanding on $200.0 million repurchase agreement, variable rate.

(2) Represents amount outstanding on $300.0 million repurchase agreement, variable rate.

(3) Collateralized debt obligation of investment grade-rated debt secured directly or indirectly by real estate assets, variable rate.

(4) Based on imputed interest rate.

Page 27

 


Lexington Realty Trust

Mortgage Maturity Schedule

3/31/2007

($000)

 

 

 

 

 

 

 

Consolidated Properties

Year

 

Scheduled
Amortization

 

Balloon Payments

 

Balloon Weighted
Average Interest
Rate%

2007 - remaining

 

$                   42,613

 

$                            -

 

-    

2008

 

62,922

 

31,822

 

7.13%

2009

 

43,607

 

60,788

 

6.28%

2010

 

33,824

 

56,558

 

7.88%

2011

 

34,107

 

112,410

 

5.92%

 

 

$                 217,073

 

$                 261,578

 

6.57%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Joint Venture Properties - LXP Proprotionate Share

Year

 

Scheduled
Amortization

 

Balloon Payments

 

Balloon Weighted
Average Interest
Rate %

2007- remaining

 

$                     5,799

 

$                   28,906

(1)

5.64%

2008

 

7,177

 

69,559

(1)

6.06%

2009

 

6,906

 

23,570

 

6.67%

2010

 

5,804

 

20,538

 

8.06%

2011

 

5,042

 

21,666

 

6.90%

 

 

$                   30,728

 

$                 164,239

 

6.43%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Includes joint venture warehouse facilities.

 

 

Page 28

 


 

Lexington Realty Trust

 

Revenue by Tenant Industry

 

3/31/2007

 

Tenant Industry

 

% Base Rent for the 3 months ended 3/31/07 (1)

 

 

Finance/Insurance

 

14.9%

 

 

Energy

 

11.4%

 

 

Aerospace/Defense

 

9.1%

 

 

Food

 

7.8%

 

 

Technology

 

7.7%

 

 

Automotive

 

7.5%

 

 

Transportation/Logistics

 

5.3%

 

 

Consumer Products

 

5.0%

 

 

Retail-Department/ Discount Store

 

4.8%

 

 

Healthcare

 

4.3%

 

 

Media/Advertising

 

4.0%

 

 

Service

 

3.9%

 

 

Telecommunications

 

3.3%

 

 

Retail-Specialty

 

3.1%

 

 

Construction Materials

 

2.2%

 

 

Printing/Production

 

2.1%

 

 

Retail-Electronics

 

1.0%

 

 

Apparel

 

0.9%

 

 

Real Estate/Other

 

0.8%

 

 

Security

 

0.6%

 

 

Health/Fitness

 

0.2%

 

 

Paper/Containers & Packaging

 

0.1%

 

 

 

 

100.0%

 

 

 

 

 

 

 

 

 

 

 

 

(1)     Includes proportionate share of joint venture investments and rental revenue recognized from properties sold through date of sale.

 

Page 29

 


Lexington Realty Trust

Revenue by Metropolitan Statistical Area

 

 

Metropolitan Statistical Area

% of Base Rent for the 3 Months Ended 3/31/07

1

 

Los Angeles-Riverside-Orange County-CA

10.3%

2

 

Houston-Galveston-Brazoria-TX

6.4%

3

 

Dallas-Fort Worth-TX

5.1%

4

 

New York-Northern New Jersey-Long Island

4.3%

5

 

Washington-Baltimore

4.1%

6

 

Philadelphia-Wilmington-Atlantic City

3.7%

7

 

San Francisco-Oakland-San Jose-CA

3.3%

8

 

Memphis-TN

3.3%

9

 

Atlanta-GA

3.1%

10

 

Phoenix-Mesa-AZ

2.2%

11

 

Orlando-FL

2.2%

12

 

Youngstown-Warren-OH

2.1%

13

 

Boston-Worcester-Lawrence-MA

2.0%

14

 

Beaumont-Port Arthur, TX

1.8%

15

 

Detroit-Ann Arbor-Flint-MI

1.8%

16

 

Columbus-OH

1.7%

17

 

Charlotte-Gastonia-Rock Hill-NC-SC

1.6%

18

 

Salt Lake City-Ogden-UT

1.5%

19

 

Chicago-Gary-Kenosha-IL

1.5%

20

 

Harrisburg-Lebanon-Carlisle-PA

1.4%

21

 

Richmond-Petersburg-VA

1.3%

22

 

Indianapolis-IN

1.3%

23

 

San Antonio-TX

1.2%

24

 

New Orleans, LA

1.2%

25

 

West Palm Beach-Boca Raton-FL

1.1%

26

 

Columbus, IN

1.1%

27

 

Las Vegas, NV-AZ

1.0%

28

 

Owensboro-KY

1.0%

 

 

Areas which account for 1% or greater of total revenue

72.6%

Page 30

 


LEXINGTON REALTY TRUST

Supplemental Reporting Package

Other Revenue Data

3/31/2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Historical
Year to Date
Base Rent
($000s) (1)

 

 

 

 

 

 

 

 

 

 

 

Revenue by Property Type

 

Percentage

 

 

 

 

 

 

 

 

 

Office

$                68,875

 

65.9%

 

 

 

 

 

 

 

 

 

Industrial

$                24,860

 

23.8%

 

 

 

 

 

 

 

 

 

Retail

$                10,706

 

10.3%

 

 

 

 

 

 

 

 

 

 

$              104,441

 

100.0%

 

 

 

 

 

 

 

 

 

Revenue by Credit Rating (2)

 

 

 

 

 

 

 

 

 

 

 

 

Investment Grade

$                56,121

 

53.7%

 

 

 

 

 

 

 

 

 

Non-Investment Grade

$                18,956

 

18.2%

 

 

 

 

 

 

 

 

 

Unrated

$                29,364

 

28.1%

 

 

 

 

 

 

 

 

 

 

$              104,441

 

100.0%

 

 

 

 

 

 

 

 

 

 

 

 

Aggregate
Rentable Sq.
Ft.

 

% of Total
Aggregate
Rentable Sq.
Ft.

 

Base Rent
YTD

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Major Tenants/Guarantors

Number of
Leases(2)

 

 

 

Property Type

 

% of
Base
Rent
(1)

 

 

Raytheon Corporation

6

 

2,286,009

 

3.9%

 

$            6,817 

Office/Industrial/Other

 

6.5%

 

 

St. Paul Fire and Marine Insurance

1

 

530,000

 

0.9%

 

$            3,314 

Office

 

3.2%

 

 

Baker Hughes, Inc.

4

 

1,061,471

 

1.8%

 

$            3,308 

Office/Industrial

 

3.2%

 

 

Kmart Corp/Sears Holdings

8

 

2,957,164

 

5.0%

 

$            2,908 

Industrial/Retail

 

2.8%

 

 

Dana Corporation

8

 

2,240,802

 

3.8%

 

$            2,624 

Office/Industrial

 

2.5%

 

 

Harcourt Brace/Reed Elsevier

4

 

1,063,640

 

1.8%

 

$            2,122 

Office/Industrial

 

2.0%

 

 

Entergy Services, Inc.

4

 

682,554

 

1.2%

 

$            2,090 

Office

 

2.0%

 

 

Federal Express, Inc.

3

 

712,286

 

1.2%

 

$            2,014 

Office/Industrial

 

1.9%

 

 

Morgan, Lewis & Bockius LLP

1

 

309,049

 

0.5%

 

$            1,672 

Office

 

1.6%

 

 

Northwest Pipeline Corp.

1

 

295,000

 

0.5%

 

$            1,580 

Office

 

1.5%

 

 

Total

40

 

12,137,975

 

20.6%

 

$          28,449 

 

 

27.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)     Includes proportionate share of joint venture investments and rental revenue recognized from properties sold through the date of sale.

 

 

 

(2)     As of March 31, 2007.

 

 

 

 

 

 

 

 

 

 

 

Page 31

 


 

Investor Information

 

 

 

 

 

Transfer Agent

 

Investor Relations

Mellon Investor Services LLC

 

Carol M. Merriman

480 Washington Blvd.

 

VP of Investor Relations and Corporate Development

Jersey City NJ 07310-1900

 

Telephone (direct)

(212) 692-7264

(800) 850-3948

 

Facsimile (main)

(212) 594-6600

www.melloninvestor.com

 

E-mail

cmerriman@lxp.com

 

 

 

 

Research Coverage

 

 

 

BB&T Capital Markets

 

 

J.P. Morgan

 

Stephanie Krewson

(804) 782-8784

 

Anthony Paolone, CFA

(212) 622-6682

Robert P. Whittemore

(804) 782-8796

 

Michael W. Mueller, CFA

(212) 622-6689

 

 

 

Joseph Dazio, CFA

(212) 622-6416

Bear, Stearns & Co., Inc.

 

 

Gregory P. Stuart

(212) 622-5390

Ross Smotrich

(212) 272-8046

 

 

 

Jeffrey Langbaum

(212) 272-4201

 

Raymond James & Assoc.

 

George Hoglund, CFA

(212) 272-6272

 

Paul Puryear

(727) 567-2253

 

 

 

Ken Avalos

(727) 567-2660

Cantor Fitzgerald

 

 

 

 

Philip Martin

(312) 469-7485

 

Stifel Nicolaus

 

Matthew Thorp

(312) 469-7484

 

John W. Guinee

(410) 454-5520

 

 

 

Michael C. Hudgins

(410) 454-4830

Friedman, Billings, Ramsey

 

 

 

 

Merrill Ross

(703) 312-9769

 

Wachovia Securities

 

Gabe Poggi

(703) 469-1141

 

Stephen Swett

(212) 214-5050

 

 

 

 

 

 

 

 

 

 

Page 32