EX-99.1 2 ex99-1.htm SUPPLEMENTAL REPORTING PACKAGE ex99-1.htm
Exhibit 99.2
 

 
 







Quarterly Earnings and
Supplemental Operating and Financial Data
 
For the Quarter and Nine Months Ended September 30, 2007


 

 

 
 

 
 

 
 
LEXINGTON REALTY TRUST
SUPPLEMENTAL REPORTING PACKAGE
For the quarter and nine months ended September 30, 2007

Table of Contents
 
Section
Page
   
Third Quarter 2007 Earnings Press Releas
3
 
Portfolio Data
 
Major Markets
11
 
Tenant Diversification
12
 
Other Revenue Data
13
 
Top 10 Tenant Data
14
 
Property Leases and Vacancies – Consolidated Portfolio
15
 
3Q ’07 Disposition Summary
28
 
3Q ’07 Financing & Leasing Summary
29
     
Financial Data
 
Selected Balance Sheet Account Detail
31
 
Selected Balance Sheet Account Detail
32
 
Mortgages and Notes Payable
33
 
Base rent estimates from current assets
40
     
Investor Information
41

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
TRADED: NYSE: LXP
One Penn Plaza, Suite 4015
New York NY 10119-4015
 
Contact:
Investor or Media Inquiries, Carol Merriman, VP Investor Relations & Corporate Development
Lexington Realty Trust
Phone: (212) 692-7264 E-mail: cmerriman@lxp.com

FOR IMMEDIATE RELEASE
Thursday, November 8, 2007

LEXINGTON REALTY TRUST REPORTS THIRD QUARTER 2007 RESULTS

New York, NY – November 8, 2007– Lexington Realty Trust (“Lexington”) (NYSE:LXP), a real estate investment trust (REIT) focused on single-tenant real estate investments, today announced results for the third quarter ended September 30, 2007.  All per share amounts are on a diluted basis.

Third Quarter 2007 Highlights
 
·
Total rental revenues of $114.0 million
 
·
Company Funds From Operations of $50.4 million or $0.46 per share(1)
 
·
39 new and renewal leases executed, totaling 946,000 square feet
 
·
$119.5 million in real estate dispositions
 
·
513,000 shares/units repurchased at an average price of $20.00 per share/unit
  ·
$0.375 common share/unit dividend/distribution declared
(1)
See the last page of this press release for a reconciliation of GAAP net income to Company FFO.
 
COMMENTS FROM MANAGEMENT
 
T. Wilson Eglin, President and Chief Executive Officer of Lexington stated, “We are pleased to report exceptionally strong third quarter operating results fueled by investment and capital market activities during the first half of the year and strong leasing activity. During the quarter, Lexington sold 23 properties for $119.5 million realizing gains of $27.0 million. In connection with the sales, we incurred debt prepayment penalties of $3.6 million, which reduced our reported funds from operations by $0.03 per share.” Mr. Eglin continued, “We expect to remain active on the sale front in the fourth quarter and believe that fourth quarter disposition activity will total between $171.5 million to $258.3 million. These sales, combined with prior disposition activity and the anticipated closing of our previously announced co-investment program are expected to generate taxable gain to the shareholders for 2007 of approximately $4.75 to $5.50 per share. Accordingly, we expect to pay a corresponding special distribution to our shareholders in early 2008.”
 
Michael L. Ashner, Executive Chairman of Lexington added, “We are pleased with our efforts to date with regards to our strategic restructuring plan.  The slower pace of sales, compared with our previous expectations, reflect our view that our sales either be accretive or consist of non-core assets.  Our slowed pace of acquisitions during the second half of this year reflects our view that investment opportunities are more likely to improve than diminish in the near to mid-term.”
 

 
Page 3 of 41


FINANCIAL RESULTS
Revenue

For the quarter ended September 30, 2007, rental revenues increased 168.3% to $114.0 million, compared with rental revenues of $42.5 million for the quarter ended September 30, 2006.  The increase was primarily a result of the December 31, 2006 merger with Newkirk Realty Trust, Inc. and the second quarter 2007 acquisition of 48 properties which Lexington had previously held in four co-investment programs.

Net Income Allocable to Common Shareholders

For the quarter ended September 30, 2007, net income allocable to common shareholders was $7.4 million, compared to the quarter ended September 30, 2006, which had a loss of $21.7 million.  On a per share basis, net income allocable to common shareholders for the quarter ended September 30, 2007 was $0.12, compared with a loss of $0.42 for the comparable period last year.  For the nine months ended September 30, 2007, net income allocable to common shareholders was $25.9 million, or $0.39 per share, as compared to $1.7 million, or $0.03 per share, for the same period in 2006.

Company Funds From Operations Applicable to Common Shareholders

For the quarter ended September 30, 2007, Company Funds From Operations (“Company FFO”) was $50.4 million, compared with Company FFO for the quarter ended September 30, 2006 of $(0.3) million.  On a per share basis, Company FFO was $0.46 for the quarter ended September 30, 2007, compared with $0.00 for the same period in 2006.  For the nine months ended September 30, 2007, Company FFO was $158.9 million or $1.42 per share, as compared with $66.5 million or $1.05 per share for the same period in 2006.

Market Capitalization

At September 30, 2007, Lexington’s total market capitalization was approximately $5.8 billion, based on the New York Stock Exchange closing price of Lexington’s common shares on September 30, 2007, and assuming the conversion of all operating partnership units to common shares, the liquidation preference of preferred shares, and the principal balance of total debt outstanding.

Dividend

On September 14, 2007, Lexington declared a regular quarterly cash dividend/distribution of $0.375 per common share/unit (equal to $1.50 on an annualized basis), which was paid on October 15, 2007, to common shareholders/unit holders of record as of September 28, 2007.

Share Repurchase Authorization

During the quarter ended September 30, 2007, Lexington repurchased approximately 513,000 common shares/units at an average price of $20.00 per share/unit. During the nine months ended September 30, 2007, Lexington has repurchased approximately 7.1 million common shares/units at an average price of $20.61 per share/unit, reducing the number of shares/units outstanding to approximately 103.4 million.  On March 5, 2007, Lexington’s Board of Trustees authorized the repurchase from time to time of 10.0 million common shares/units, of which 3.4 million common shares/units remain available for repurchase.
 
Page 4 of 41


2007 EARNINGS GUIDANCE

Lexington reaffirmed its previously disclosed 2007 full-year per diluted share Company FFO guidance range of $1.75 to $1.85.  This guidance is based on current expectations and is forward-looking.  In connection with projected property sales, Lexington expects to incur $0.05 to $0.06 per share of mortgage prepayment penalties in the fourth quarter.

INVESTMENT & DISPOSITION ACTIVITY

Co-Investment Program

In August 2007, Lexington announced that The Lexington Master Limited Partnership formed a co-investment program with Inland American (Net Lease) Sub, LLC, a wholly owned subsidiary of Inland American Real Estate Trust, Inc., to invest in specialty single-tenant net leased assets in the United States.

The co-investment program entered into an agreement to acquire 53 primarily single-tenant net leased assets from Lexington and its subsidiaries for an aggregate purchase price of $940.0 million (including the assumption of non-recourse first mortgage financing secured by certain of the assets) and subordinated financing by The Lexington Master Limited Partnership subject to certain terms and conditions.  The properties contain an aggregate of more than eight million net rentable square feet, and are located in 28 states.  In addition to the 53 assets under contract, The Lexington Master Limited Partnership and Inland American (Net Lease) Sub, LLC, intend to invest $22.5 million and $127.5 million, respectively, in the co-investment program to acquire additional specialty single-tenant net leased assets.  Assuming mortgage financing of 70% of acquisition cost, the joint venture will acquire up to $1.4 billion of property.

The sale of each of the 53 assets by Lexington and its subsidiaries, the purchase by the co-investment program, and the funding by Inland American (Net Lease) Sub, LLC are subject to satisfaction of conditions precedent to closing, including the assumption of existing financing, obtaining certain consents and waivers, the continuing solvency of the tenants and certain other customary conditions.  Accordingly, Lexington can not provide assurances that the sales by it and its subsidiaries, the acquisition by the co-investment program and the funding by Inland American (Net Lease) Sub, LLC will be completed.

Dispositions

During the quarter ended September 30, 2007, Lexington sold 23 non-core properties under its previously announced disposition program for an aggregate price of $119.5 million.

LEASING ACTIVITY

At September 30, 2007, Lexington’s portfolio was approximately 95.8% leased.  For the quarter ended September 30, 2007, Lexington executed 39 leases for approximately 946,000 square feet.  Sixteen new leases were executed, (13 office properties, two industrial properties, and one retail property) encompassing 300,000 square feet.  Twenty-three lease renewals were executed (three office properties, one industrial property, and 19 retail properties) encompassing 646,000 square feet.

Page 5 of 41

 
THIRD QUARTER 2007 CONFERENCE CALL

On Thursday, November 8, 2007, at 11:00 a.m. Eastern Time, Lexington will host a conference call to discuss its results for the quarter ended September 30, 2007.  Lexington’s remarks will be followed by a question and answer period.  Interested parties may participate in this conference call by dialing (877) 407-0782 or (201) 689-8567.  A taped replay of the call will be available through December 8, 2007 at (877) 660-6853, Account 286, Conference ID 256173.

A live web cast (listen-only mode) of the conference call will be available at www.lxp.com within the Investor Relations section. An online replay will also be available through December 8, 2007.

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, Investor Relations, One Penn Plaza, Suite 4015, New York, New York 10119-4015.

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 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 successfully complete the strategic restructuring plan, (ii) the failure to complete the sale of the 53 assets to the newly formed co-investment program described above, (iii) the failure to complete the expected fourth quarter disposition activity described above, (iv) the failure to obtain board approval of any special distribution described above, (v) the failure to integrate our operations and properties with those of Newkirk Realty Trust, (vi) the failure to continue to qualify as a real estate investment trust, (vii) changes in general business and economic conditions, (viii) competition, (ix) increases in real estate construction costs, (x) changes in interest rates, or (xi) changes in accessibility of debt and equity capital markets. 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 Company'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
 
Page 6 of 41

 
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES  
 
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS     
 
Three and Nine months ended September 30, 2007 and 2006        
 
(Unaudited and in thousands, except share and per share data)        
 
                         
 
Three Months Ended
   
Nine Months Ended
 
 
September 30, 
   
September 30, 
 
   
2007
   
2006
   
2007
   
2006
 
Gross revenues:
                       
Rental
  $
113,988
    $
42,482
    $
293,377
    $
125,860
 
Advisory and incentive fees
   
239
     
1,127
     
12,182
     
3,527
 
Tenant reimbursements
   
10,128
     
4,185
     
22,300
     
12,229
 
Total gross revenues
   
124,355
     
47,794
     
327,859
     
141,616
 
                                 
Expense applicable to revenues:
                               
Depreciation and amortization
    (67,211 )     (19,143 )     (174,130 )     (56,843 )
Property operating
    (18,031 )     (7,858 )     (42,868 )     (22,325 )
General and administrative
    (7,547 )     (5,383 )     (28,707 )     (15,852 )
Non-operating income
   
2,673
     
963
     
7,644
     
7,669
 
Interest and amortization expense
    (50,347 )     (16,306 )     (120,390 )     (49,035 )
Debt satisfaction charges
   
      (510 )    
      (216 )
Impairment loss
   
     
     
      (1,121 )
                                 
Income  (loss) before provision for income taxes, minority interests, equity in earnings of non-consolidated entities and discontinued operations
    (16,108 )     (443 )     (30,592 )    
3,893
 
Provision for income taxes
    (410 )     (178 )     (2,646 )     (24 )
Minority interests share of (income) loss
   
1,966
     
3
      (8,630 )     (704 )
Equity in earnings of non-consolidated entities
   
4,054
     
1,029
     
45,951
     
3,145
 
Income (loss) from continuing operations
    (10,498 )    
411
     
4,083
     
6,310
 
                                 
Discontinued operations:
                               
Income from discontinued operations
   
6,029
     
2,576
     
17,728
     
8,278
 
(Provision) benefit for income taxes
    (2 )    
1
      (2,623 )     (73 )
Debt satisfaction (charges) gains
    (3,596 )    
15
      (3,685 )    
5,779
 
Gains on sales of properties
   
26,980
     
1,920
     
39,808
     
18,836
 
Impairment charge
   
      (28,209 )    
      (28,209 )
Minority interests share of (income) loss
    (4,450 )    
5,691
      (9,694 )    
3,081
 
Total discontinued operations
   
24,961
      (18,006 )    
41,534
     
7,692
 
Net income (loss)
   
14,463
      (17,595 )    
45,617
     
14,002
 
Dividends attributable to preferred shares – Series B
    (1,590 )     (1,590 )     (4,770 )     (4,770 )
Dividends attributable to preferred shares – Series C
    (2,519 )     (2,519 )     (7,556 )     (7,556 )
Dividends attributable to preferred shares – Series D
    (2,925 )    
      (7,372 )    
 
Net income (loss) allocable to common shareholders
  $
7,429
    $ (21,704 )   $
25,919
    $
1,676
 
                                 
Income  (loss) per common share – basic:
                               
Income (loss) from continuing operations, after preferred dividends
  $ (0.27 )   $ (0.07 )   $ (0.24 )   $ (0.12 )
Income (loss) from discontinued operations
   
0.39
      (0.35 )    
0.63
     
0.15
 
Net income (loss)  allocable to common shareholders
  $
0.12
    $ (0.42 )   $
0.39
    $
0.03
 
                                 
Weighted average common shares outstanding – basic
   
63,458,167
     
52,279,750
     
65,735,321
     
52,081,514
 
                                 
Income  (loss) per common share – diluted:
                               
Income (loss) from continuing operations, after preferred dividends
  $ (0.27 )   $ (0.07 )   $ (0.24 )   $ (0.12 )
Income (loss) from discontinued operations
   
0.39
      (0.35 )    
0.63
     
0.15
 
Net income (loss) allocable to common shareholders
  $
0.12
    $ (0.42 )   $
0.39
    $
0.03
 
                                 
Weighted average common shares outstanding - diluted
   
63,458,167
     
52,279,750
     
65,735,321
     
52,081,514
 
 
Page 7 of 41

 
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES    
 
CONDENSED CONSOLIDATED BALANCE SHEETS    
 
September 30, 2007 (Unaudited) and December 31, 2006    
 
(In thousands, except share and per share data)    
 
             
   
September 30,
   
December 31,
 
   
2007
   
2006
 
Assets:
           
Real estate, at cost
  $
4,630,170
    $
3,747,156
 
Less: accumulated depreciation and amortization
   
387,237
     
276,129
 
     
4,242,933
     
3,471,027
 
Properties held for sale – discontinued operations
   
159,982
     
69,612
 
Intangible assets, net
   
609,000
     
468,244
 
Cash and cash equivalents
   
260,487
     
97,547
 
Investment in and advances to non-consolidated entities
   
173,742
     
247,045
 
Deferred expenses, net
   
39,600
     
16,084
 
Notes receivable
   
41,968
     
50,534
 
Rent receivable – current
   
27,525
     
53,744
 
Rent receivable – deferred
   
19,012
     
29,410
 
Investment in marketable equity securities
   
4,276
     
32,036
 
Other assets
   
88,966
     
89,574
 
    $
5,667,491
    $
4,624,857
 
Liabilities and Shareholders’ Equity:
               
Liabilities:
               
Mortgages and notes payable
  $
2,631,225
    $
2,126,810
 
Exchangeable notes payable
   
450,000
     
 
Trust notes payable
   
200,000
     
 
Contract rights payable
   
13,133
     
12,231
 
Dividends payable
   
30,884
     
44,948
 
Liabilities – discontinued operations
   
100,672
     
6,064
 
Accounts payable and other liabilities
   
41,037
     
25,877
 
Accrued interest payable
   
15,442
     
10,818
 
Deferred revenue - below market leases
   
263,801
     
362,815
 
Prepaid rent
   
21,171
     
10,109
 
     
3,767,365
     
2,599,672
 
Minority interests
   
789,519
     
902,741
 
     
4,556,884
     
3,502,413
 
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 $155,000, 3,100,000 shares issued and outstanding
   
150,589
     
150,589
 
Series D Cumulative Redeemable Preferred, liquidation preference $155,000, 6,200,000 shares issued and outstanding in 2007
   
149,774
     
 
Special Voting Preferred Share, par value $0.0001 per share; authorized, issued and outstanding 1 share
   
     
 
Common shares, par value $0.0001 per share; authorized 400,000,000 shares, 63,598,112 and 69,051,781 shares issued and outstanding in 2007 and 2006, respectively
   
6
     
7
 
Additional paid-in-capital
   
1,077,707
     
1,188,900
 
Accumulated distributions in excess of net income
    (341,243 )     (294,640 )
Accumulated other comprehensive income (loss)
    (2,541 )    
1,273
 
     
1,110,607
     
1,122,444
 
    $
5,667,491
    $
4,624,857
 
 
Page 8 of 41

 
                         
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES     
 
EARNINGS PER SHARE AND FUNDS FROM OPERATIONS PER SHARE     
 
(In thousands, except share data)          
 
                         
 
Three Months Ended
   
Nine Months Ended
 
 
September 30,  
   
September 30, 
 
   
2007
   
2006
   
2007
   
2006
 
EARNINGS PER SHARE:
                       
Basic:
                       
Income (loss) from continuing operations
  $ (10,498 )   $
411
    $
4,083
    $
6,310
 
Less preferred dividends
    (7,034 )     (4,109 )     (19,698 )     (12,326 )
Income (loss) allocable to common shareholders from continuing operations
    (17,532 )     (3,698 )     (15,615 )     (6,016 )
Total income (loss) from discontinued operations
   
24,961
      (18,006 )    
41,534
     
7,692
 
Net income (loss) allocable to common shareholders
  $
7,429
    $ (21,704 )   $
25,919
    $
1,676
 
                                 
Weighted average number of common shares outstanding
   
63,458,167
     
52,279,750
     
65,735,321
     
52,081,514
 
                                 
Income (loss) per common share - basic:
                               
Income (loss) from continuing operations
  $ (0.27 )   $ (0.07 )   $ (0.24 )   $ (0.12 )
Income (loss) from discontinued operations
   
0.39
      (0.35 )    
0.63
     
0.15
 
Net income (loss)
  $
0.12
    $ (0.42 )   $
0.39
    $
0.03
 
                                 
Diluted:
                               
Income (loss) allocable to common shareholders from continuing operations
  $ (17,532 )   $ (3,698 )   $ (15,615 )   $ (6,016 )
Incremental income attributed to assumed conversion of dilutive securities
   
     
     
     
 
Income (loss) allocable to common shareholders from continuing operations
    (17,532 )     (3,698 )     (15,615 )     (6,016 )
Total income (loss) from discontinued operations
   
24,961
      (18,006 )    
41,534
     
7,692
 
Net income (loss) allocable to common shareholders
  $
7,429
    $ (21,704 )   $
25,919
    $
1,676
 
                                 
Weighted average number of common shares used in calculation of basic earnings per share
   
63,458,167
     
52,279,750
     
65,735,321
     
52,081,514
 
Add incremental shares representing:
                               
Shares issuable upon exercise of employee share options
   
     
     
     
 
Shares issuable upon conversion of dilutive securities
   
     
     
     
 
Weighted average number of shares used in calculation of diluted earnings per common share
   
63,458,167
     
52,279,750
     
65,735,321
     
52,081,514
 
                                 
Income per common share - diluted:
                               
Income (loss) from continuing operations
  $ (0.27 )   $ (0.07 )   $ (0.24 )   $ (0.12 )
Income (loss) from discontinued operations
   
0.39
      (0.35 )    
0.63
     
0.15
 
Net income (loss)
  $
0.12
    $ (0.42 )   $
0.39
    $
0.03
 
 
Page 9 of 41

 
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES     
 
EARNINGS PER SHARE AND FUNDS FROM OPERATIONS PER SHARE (Continued)  
 
(In thousands, except share data)          
 
                         
   
Three Months Ended
   
Nine Months Ended
 
   
September 30,  
   
September 30, 
 
   
2007
   
2006
   
2007
   
2006
 
The Company's Funds from Operations: (1)
                       
Basic and Diluted:
                       
Net income (loss) allocable to common shareholders - basic
  $
7,429
    $ (21,704 )   $
25,919
    $
1,676
 
Adjustments:
                               
Depreciation and amortization
   
67,439
     
20,419
     
180,224
     
60,726
 
Minority interests - OP units
   
952
      (5,581 )    
14,867
      (2,026 )
Amortization of leasing commissions
   
346
     
169
     
882
     
479
 
Joint venture and minority interest adjustment
    (1,348 )    
5,785
     
1,698
     
16,848
 
Preferred dividends - Series C
   
2,519
     
2,519
     
7,556
     
7,556
 
Gains on sale of properties
    (26,980 )     (1,920 )     (39,808 )     (18,836 )
Taxes incurred on sale of properties
   
     
     
1,749
     
74
 
Gains on sale of joint venture properties
   
     
      (34,164 )    
 
Company's funds from operations
  $
50,357
    $ (313 )   $
158,923
    $
66,497
 
                                 
Basic:
                               
Weighted average shares outstanding - basic EPS
   
63,458,167
     
52,279,750
     
65,735,321
     
52,081,514
 
Operating partnership units
   
39,636,305
     
5,621,824
     
40,192,868
     
5,632,598
 
Preferred shares - Series C
   
5,779,330
     
5,779,330
     
5,779,330
     
5,779,330
 
Weighted average shares outstanding - basic
   
108,873,802
     
63,680,904
     
111,707,519
     
63,493,442
 
Company's funds from operations per share
  $
0.46
    $
    $
1.42
    $
1.05
 
                                 
Diluted:
                               
Weighted average shares outstanding - diluted  EPS
   
63,458,167
     
52,279,750
     
65,735,321
     
52,081,514
 
Operating partnership units
   
39,636,305
     
5,621,824
     
40,192,868
     
5,632,598
 
Preferred shares - Series C
   
5,779,330
     
5,779,330
     
5,779,330
     
5,779,330
 
Other
   
403
     
     
544
     
23,053
 
Adjusted weighted average shares outstanding - diluted
   
108,874,205
     
63,680,904
     
111,708,063
     
63,516,495
 
Company's funds from operations per share
  $
0.46
    $
    $
1.42
    $
1.05
 
 
1Lexington 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 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, and also incentive fees earned from joint ventures.  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 10 of 41

 
LEXINGTON REALTY TRUST
Major Markets
9/30/07
 
Core Based Statistical Area (2)
% of Annualized
GAAP Rent at
9/30/2007 (1)
     
1    
Dallas-Fort Worth-Arlington, TX
9.0%
2    
Los Angeles-Long Beach-Santa Ana, CA
8.9%
3    
Houston-Sugar Land-Baytown, TX
6.1%
4    
New York-Northern New Jersey-Long Island, NY-NJ-PA
5.1%
5    
Atlanta-Sandy Springs-Marietta, GA
3.1%
6    
Memphis, TN-MS-AR
3.0%
7    
Baltimore-Towson, MD
2.9%
8    
Orlando-Kissimmee, FL
2.7%
9    
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2.7%
10    
Detroit-Warren-Livonia, MI
2.4%
11    
Boston-Cambridge-Quincy, MA-NH
2.3%
12    
Chicago-Naperville-Joliet, IL-IN-WI
2.0%
13    
Phoenix-Mesa-Scottsdale, AZ
1.9%
14    
Columbus, OH
1.8%
15    
Richmond, VA
1.7%
16    
San Francisco-Oakland-Fremont, CA
1.6%
17    
Kansas City, MO-KS
1.6%
18    
Indianapolis-Carmel, IN
1.5%
19    
Charlotte-Gastonia-Concord, NC-SC
1.5%
20    
Salt Lake City, UT
1.4%
21    
Seattle-Tacoma-Bellevue, WA
1.2%
22    
Greenville-Mauldin-Easley, SC
1.1%
23    
Harrisburg-Carlisle, PA
1.1%
24    
Beaumont-Port Arthur, TX
1.1%
25    
Cincinnati-Middletown, OH-KY-IN
1.1%
26    
San Antonio, TX
1.1%
27    
Washington-Arlington-Alexandria, DC-VA-MD-WV
1.1%
28    
Columbus, IN
1.0%
29    
Miami-Fort Lauderdale-Pompano Beach, FL
1.0%
 
Areas which account for 1% of greater of total revenue
73.0%
 
(1) Calculated by annualizing third quarter 2007 GAAP rent recognized for consolidated properties owned as of 9/30/2007.
(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.
 
 
Page 11 of 41

 
LEXINGTON REALTY TRUST 
Tenant Industry Diversification 
9/30/2007 
  
Industry Category
% of Annualized
GAAP Rent at
9/30/2007 (1)
 
   
Finance/Insurance
15.1%
Technology
9.9%
Energy
9.6%
Automotive
8.9%
Aerospace/Defense
8.7%
Food
7.1%
Transportation/Logistics
5.7%
Consumer Products/Other
4.9%
Healthcare
4.8%
Media/Advertising
4.6%
Telecommunications
4.3%
Service
2.7%
Retail Department & Discount
2.4%
Printing/Production
2.1%
Construction Materials
1.8%
Retail - Specialty
1.6%
Apparel
1.4%
Other
1.2%
Real Estate
1.2%
Security
0.9%
Retail - Electronics
0.8%
Health/Fitness
0.2%
Paper/Containers & Packaging
0.1%
 
100.0%
   

(1) Calculated by annualizing third quarter 2007 GAAP rent recognized for consolidated properties owned as of 9/30/2007.
 
 
Page 12 of 41

 
 
LEXINGTON REALTY TRUST
Supplemental Reporting Package
Other Revenue Data
       
             
             
   
Annualized GAAP Rent at 9/30/07 ($000) (1)
   
Percentage
 
Asset Class
           
Office
  $
284,796
      61.0 %
Industrial
  $
77,496
      16.6 %
Retail
  $
31,100
      6.6 %
Specialty
  $
73,764
      15.8 %
    $
467,156
      100.0 %
Credit Rating
               
Investment Grade
  $
263,676
      56.4 %
Non-Investment Grade
  $
65,904
      14.1 %
Unrated
  $
137,576
      29.5 %
    $
467,156
      100.0 %
 
 
 
 

 
(1) Calculated by annualizing third quarter 2007 GAAP rent recognized for consolidated properties owned as of 9/30/2007.
 
 
 
 
Page 13 of 41

 
LEXINGTON REALTY TRUST
 
Supplemental Reporting Package
 
Top 10 Tenants or Guarantors
 
   
   
      
Tenant or Guarantor
 
Number of Leases
    Sq. Ft. Leased    
Sq. Ft. Leased as a Percent of Total Portfolio
   
Annualized GAAP Rent at 9/30/07 ($000) (1)
   
% of Annualized GAAP Rent at 9/30/2007 (1)
 
Raytheon Company
   
6
     
2,286,009
      4.4 %   $
27,772
      5.9 %
Baker Hughes, Inc.
   
4
     
1,061,471
      2.0 %    
13,252
      2.8 %
St. Paul Fire and Marine Insurance Co.
   
1
     
530,000
      1.0 %    
13,104
      2.8 %
Dana Corporation
   
8
     
2,201,359
      4.2 %    
10,500
      2.2 %
Bank of America
   
11
     
735,253
      1.4 %    
10,420
      2.2 %
Sanofi-Aventis U.S., Inc (Aventis, Inc.)
   
1
     
206,593
      0.4 %    
8,840
      1.9 %
Federal Express Corporation
   
3
     
712,286
      1.4 %    
8,148
      1.7 %
Wells Fargo
   
4
     
404,421
      0.8 %    
7,268
      1.6 %
Harcourt Brace & Company
   
2
     
916,538
      1.8 %    
7,164
      1.5 %
Morgan Lewis & Bockius LLC
   
1
     
290,565
      0.6 %    
6,652
      1.4 %
     
41
     
9,344,495
      18.0 %   $
113,120
      24.0 %
 
 
(1) Calculated by annualizing third quarter 2007 GAAP rent recognized for consolidated properties owned as of 9/30/2007.
 
 
 
 
Page 14 of 41

 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 9/30/07

Year of Lease Expiration
Date of Lease   Expiration
Property Location
City
State
Notes
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1)
Annualized Cash Rent ($000) (2)
Annualized GAAP Rent ($000) (3)
Fixed Rent at Next Option ($000) (4)
OFFICE PROPERTIES
               
2007
8/31/2007
599 Ygnacio Valley Rd.
Walnut Creek
CA
 
Hercules
                        42,820
 $                       1,364
 $                          952
 $                               -
 
12/28/2007
2010 Alderson Dr.
Dallas
TX
(9)
T-Mobile
                                    -
 $                            20
 $                            20
 $                               -
 
12/31/2007
160 Clairemont Ave.
Decatur
GA
 
Allied Holdings, Inc.
                       112,248
 $                       1,724
 $                       1,528
 $                               -
2008
3/25/2008
250 Rittenhouse Cir.
Bristol
PA
 
Jones Apparel Group USA, Inc. (Jones Apparel Group, Inc.)
                      255,019
 $                       1,264
 $                       1,384
 $                               -
 
5/30/2008
13775 McLearen Rd.
Herndon
VA
(9)
Boeing North American Services, Inc. (The Boeing Company)
                                    -
 $                            32
 $                            32
 $                               -
   
13651 McLearen Rd.
Herndon
VA
 
Boeing North American Services, Inc. (The Boeing Company)
                      159,664
$                       2,868
 $                       2,476
 $                               -
 
6/30/2008
2210 Enterprise Dr.
Florence
SC
 
Washington Mutual Home Loans, Inc.
                      177,747
 $                       1,748
 $                       1,700
 $                       1,750
 
9/30/2008
17770 Cartwright Rd.
Irvine
CA
 
Associates First Capital Corporation
                     200,000
 $                       5,752
 $                       3,140
 $                       2,400
 
11/15/2008
2550 Interstate Dr.
Harrisburg
PA
 
AT&T Wireless Services, Inc.
                         81,859
 $                       1,460
 $                       1,448
 $                               -
 
12/1/2008
1500 Hughes Way
Long Beach
CA
 
Raytheon Company
                     478,437
 $                     16,988
 $                     10,040
 $                       9,291
2009
3/31/2009
6277 Sea Harbor Dr.
Orlando
FL
 
Harcourt Brace & Company
                     357,280
 $                       4,644
 $                       3,736
 $                       3,735
 
4/1/2009
5550 Tech Center Dr.
Colorado Springs
CO
 
Federal Express Corporation
                         71,000
 $                       2,212
 $                          748
 $                               -
 
8/31/2009
1311 Broadfield Blvd.
Houston
TX
 
Newpark
                         52,731
 $                       1,132
 $                        1,136
 $                               -
 
9/1/2009
295 Chipeta Way
Salt Lake City
UT
 
Northwest Pipeline Corp.
                     295,000
 $                       6,320
 $                       6,320
 $                       3,463
   
15375 Memorial Dr.
Houston
TX
 
Vastar Resources, Inc
                     327,325
 $                       3,600
 $                       4,252
 $                               -
 
9/30/2009
100 Light St.
Baltimore
MD
 
St. Paul Fire and Marine Insurance Co.
                     530,000
 $                     25,832
 $                     13,104
 $                     13,345
   
600 Business Center Dr.
Lake Mary
FL
 
First USA Management Services, Inc.
                       125,155
 $                       3,024
 $                       2,652
 $                       3,203
   
550 Business Center Dr.
Lake Mary
FL
 
First USA Management Services, Inc.
                      125,920
 $                       2,932
 $                       2,476
 $                       3,103
   
2010 Alderson Dr.
Dallas
TX
 
Verizon Wireless
                              265
 $                            20
 $                            20
 $                               -
 
10/1/2009
10300 Kincaid Dr.
Fishers
IN
(6)
Bank One Indiana, N.A.
                      193,000
 $                       3,380
 $                       2,776
 $                       3,381
 
11/1/2009
5724 W. Las Positas Blvd.
Pleasanton
CA
 
NK Leasehold
                         41,760
 $                          828
 $                          680
 $                               -
 
12/31/2009
400 Butler Farm Rd.
Hampton
VA
 
Nextel Communications of the Mid-Atlantic, Inc.
                      100,632
 $                       1,340
 $                       1,304
 $                               -
   
1701 Market St.
Philadelphia
PA
(6)
Sun Bank
                           5,315
 $                          212
 $                          212
 $                               -
2010
1/1/2010
6555 Sierra Dr.
Irving
TX
 
True North Communications Inc.
                     247,254
 $                       4,460
 $                       3,968
 $                               -
   
4848 129th East Ave.
Tulsa
OK
 
Metris Companies, Inc.
                        101,100
 $                       1,308
 $                       1,308
 $                               -
 
1/14/2010
421 Butler Farm Rd.
Hampton
VA
 
Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)
                         56,515
 $                          752
 $                          720
 $                               -
 
1/31/2010
389-399 Interpace Hwy. Morris Corp Ctr IV
Parsippany
NJ
 
Sanofi-Aventis U.S., Inc (Aventis, Inc.)
                     206,593
 $                       9,016
 $                       8,840
 $                               -
           
Cadbury Schweppes
                      133,647
 $                          212
 $                          212
 $                               -
 
2/1/2010
110, 120, 130 E. Shore Dr.
Glen Allen
VA
 
Capital One Services, Inc.
                      156,720
 $                       2,272
 $                       2,296
 $                               -
 
2/28/2010
9950 Mayland Dr.
Richmond
VA
 
Circuit City Stores, Inc.
                     288,562
 $                       2,860
 $                       2,792
 $                               -
 
7/31/2010
350 Pine St.
Beaumont
TX
 
Honeywell International, Inc.
                          7,045
 $                            72
 $                            72
 $                               -
 
10/1/2010
6200 Northwest Pkwy.
San Antonio
TX
 
PacifiCare Health Systems, Inc.
                      142,500
 $                       1,640
 $                       1,620
 $                       1,968
   
12209 W. Markham St.
Little Rock
AR
 
Entergy Arkansas, Inc.
                          36,311
 $                          236
 $                          236
 $                          237
 
10/31/2010
700 US Hwy Route 202-206
Bridgewater
NJ
 
Biovail Pharmaceuticals, Inc.
                       115,558
 $                       2,024
 $                       2,848
 $                               -
   
13430 N. Black Canyon Fwy.
Phoenix
AZ
 
Bull HN Information Systems, Inc.
                        64,699
 $                          748
 $                          696
 $                               -
 
12/31/2010
100 Barnes Rd.
Wallingford
CT
 
Minnesota Mining and Manufacturing Company
                        44,400
 $                          604
 $                          604
 $                          475
 
 
Page 15 of 41

 
Year of Lease Expiration
Date of Lease   Expiration
 
Property Location
 
City
 
State
 
Notes
 
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1) 
Annualized Cash Rent ($000) (2) 
Annualized GAAP Rent ($000) (3)
Fixed Rent at Next Option ($000) (4) 
2011
1/30/2011
207 Mockingbird Ln.
Johnson City
TN
 
Sun Trust Bank
                        63,800
 $                          676
 $                          756
 $                          675
 
2/28/2011
4200 RCA Blvd.
Palm Beach Gardens
FL
 
The Wackenhut Corp.
                          96,118
 $                       1,812
 $                       1,812
 $                       2,403
 
3/1/2011
1311 Broadfield Blvd.
Houston
TX
 
Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.)
                      103,260
 $                       2,284
 $                      2,276
 $                               -
 
4/1/2011
2000 Eastman Dr.
Milford
OH
(6)
Siemens Product Lifecycle Management Software Inc.
                       221,215
 $                       2,920
 $                      2,444
 $                       3,102
 
9/30/2011
200 Lucent Ln.
Cary
NC
 
Lucent Technologies, Inc.
                      124,944
 $                       2,088
 $                      2,056
 $                               -
 
12/1/2011
2050 Roanoke Rd.
Westlake
TX
 
Chrysler Financial Company LLC
                      130,290
 $                       3,660
 $                      3,456
 $                               -
 
12/31/2011
200 Milik St.
Carteret
NJ
 
Pathmark Stores, Inc.
                       149,100
 $                       1,760
 $                       1,488
 $                       1,075
   
15 Nijborg, 3927 DA
Renswoude
Netherlands
AS Watson (Health & Beauty Continental Europe)
                          17,610
 $                          324
 $                          324
 $                               -
2012
1/1/2012
1275 NW 128th St.
Clive
IA
 
Principal Life Insurance Company
                          61,180
 $                          800
 $                          800
 $                          935
   
26210 and 26220 Enterprise Court
Lake Forest
CA
 
Apria Healthcare Group, Inc.
                       100,012
 $                       1,808
 $                       1,792
 $                               -
 
1/31/2012
701 Brookfield Pkwy.
Greenville
SC
 
Verizon Wireless
                      192,884
 $                       2,056
 $                       2,068
 $                       2,313
   
4000 Johns Creek Pkwy.
Suwanee
GA
 
Kraft Foods N.A., Inc.
                        73,264
 $                       1,360
 $                       1,384
 $                               -
 
3/1/2012
3940 South Teller St.
Lakewood
CO
 
Travelers Express, Inc.
                         68,165
 $                       1,168
 $                          864
$                        1,295
 
3/31/2012
147 Milk St.
Boston
MA
 
Harvard Vanguard Medical Assoc.
                        52,337
 $                       1,252
 $                       1,244
 $                                -
   
2300 Litton Ln.
Hebron
KY
 
Zwicker
                         12,356
 $                            76
 $                            80
 $                                -
   
1701 Market St.
Philadelphia
PA
(6)
Car-Tel
                           1,220
 $                            44
 $                            48
 $                                -
 
6/1/2012
275 South Valencia Ave.
Brea
CA
 
Bank of America NT & SA
                     637,503
 $                       8,712
 $                       8,796
 $                                -
 
8/1/2012
5757 Decatur Blvd.
Indianapolis
IN
 
Allstate Insurance Co.
                        84,200
 $                       1,288
 $                       1,548
 $                                -
           
Damar
                          5,756
 $                            40
 $                            40
 $                                -
   
2300 Litton Ln.
Hebron
KY
 
AGC Automotive Americas Co. (AFG Industries, Inc.)
                         21,542
 $                          204
 $                          204
 $                                -
 
10/1/2012
27016 Media Center Dr.
Los Angeles
CA
 
Playboy Enterprises, Inc.
                        63,049
 $                       1,340
 $                       1,256
 $                                -
           
Sony
                        20,203
 $                          272
 $                          272
 $                                -
 
11/1/2012
2211 South 47th St.
Phoenix
AZ
 
Avnet, Inc.
                      176,402
 $                       2,204
 $                       2,260
 $                                -
 
12/1/2012
3535 Calder Ave.
Beaumont
TX
 
Wells Fargo & Co.
                        49,689
 $                       1,444
 $                          584
 $                                -
 
12/31/2012
200 Executive Blvd. S
Southington
CT
 
Hartford Fire Insurance Co.
                      153,364
 $                       1,680
 $                       1,624
 $                                -
 
Page 16 of 41

 
Year of Lease Expiration 
Date of Lease   Expiration
 
Property Location
 
City
 
State
 
Notes
 
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1)  
Annualized Cash Rent ($000) (2)  
Annualized GAAP Rent ($000) (3) 
Fixed Rent at Next Option ($000) (4)  
2013
1/1/2013
810 & 820 Gears Rd.
Houston
TX
 
IKON Office Solutions, Inc.
                      157,790
 $                       2,228
 $                       2,252
 $                                -
 
1/31/2013
12600 Gateway Blvd.
Fort Meyers
FL
 
Gartner, Inc.
                        62,400
 $                       1,064
 $                       1,092
 $                                -
   
3476 Stateview Blvd.
Fort Mill
SC
 
Wells Fargo Home Mortgage, Inc.
                      169,083
 $                       2,952
 $                       3,020
 $                                -
   
2300 Litton Ln.
Hebron
KY
 
FTJ Fundschoice
                           9,164
 $                            40
 $                            48
 $                                -
 
3/1/2013
8900 Freeport Pkwy.
Irving
TX
 
Nissan Motor Acceptance Corporation/ (Nissan North America, Inc.)
                     268,445
 $                       4,636
 $                       4,888
 $                                -
   
3165 McKelvey Rd.
Bridgeton
MO
 
BJC Health System
                        52,994
 $                          372
 $                          528
 $                                -
 
4/30/2013
Sandlake Rd./Kirkman Rd.
Orlando
FL
 
Lockheed Martin Corporation
                      184,000
 $                          960
 $                       1,868
 $                           960
 
5/31/2013
6303 Barfield Rd.
Atlanta
GA
 
International Business Machines
                     289,000
 $                       6,440
 $                       5,988
 $                                -
 
7/1/2013
800 Ridgelake Blvd.
Memphis
TN
 
The Kroger Co.
                        75,000
 $                       1,244
 $                          648
 $                           421
 
7/31/2013
180 Rittenhouse Cir.
Bristol
PA
 
Jones Apparel Group USA, Inc. (Jones Apparel Group, Inc.)
                        96,000
 $                          992
 $                          972
 $                                -
 
8/31/2013
288 North Broad St.
Elizabeth
NJ
 
Bank of America
                        30,000
 $                          772
 $                          480
 $                           367
   
656 Plainsboro Rd.
Plainsboro
NJ
 
Bank of America
                          4,060
 $                          156
 $                          104
 $                             70
 
9/30/2013
9200 S. Park Center Loop
Orlando
FL
 
Corinthian Colleges, Inc.
                        59,927
 $                       1,172
 $                       1,160
 $                                -
   
270 Billerica Rd.
Chelmsford
MA
 
Cadence Design Systems
                      100,000
 $                       1,016
 $                       1,064
 $                                -
 
10/1/2013
4455 American Way
Baton Rouge
LA
 
Bell South Mobility, Inc.
                         70,100
 $                       1,056
 $                       1,112
 $                        1,207
 
11/1/2013
1110 Bayfield Dr.
Colorado Springs
CO
 
Honeywell International, Inc.
                      166,575
 $                       1,636
 $                       1,900
 $                        1,713
 
12/1/2013
2230 East Imperial Hwy. 1
El Segundo
CA
 
Raytheon Company/Direct TV
                      184,636
 $                       7,972
 $                       7,924
 $                                -
 
12/19/2013
10 John St.
Clinton
CT
 
Ragu, Inc.  (Unilever United States, Inc.)
                          41,188
 $                          808
 $                          364
 $                           227
2014
1/1/2014
6226 W. Sahara Ave.
Las Vegas
NV
 
Nevada Power Company
                     282,000
 $                       7,736
 $                       4,008
 $                        2,754
 
1/31/2014
1701 Market St.
Philadelphia
PA
(6)
Morgan Lewis & Bockius LLC
                     290,565
 $                       4,460
 $                       4,464
 $                        5,149
 
3/15/2014
101 E. Erie Building
Chicago
IL
 
DraftFCB (Interpublic Group of Companies, Inc.)
                     203,376
 $                       3,880
 $                       4,748
 $                                -
 
5/31/2014
3480 Stateview Blvd.
Fort Mill
SC
 
Wells Fargo Bank N.A.
                       169,218
 $                       3,324
 $                       3,448
 $                                -
 
7/1/2014
33 Commercial St.
Foxboro
MA
 
Invensys Systems, Inc. (Siebe, Inc.)
                      164,689
 $                       3,372
 $                       3,372
 $                        3,024
 
7/14/2014
16676 Northchase Dr.
Houston
TX
 
Anadarko Petroleum Corporation
                          101,111
 $                       1,584
 $                       1,628
 $                                -
 
7/31/2014
350 Pine St.
Beaumont
TX
 
Entergy Gulf States
                      125,406
 $                       4,468
 $                       3,588
 $                                -
 
9/30/2014
333 Mt. Hope Ave.
Rockway
NJ
 
BASF Corporation
                        95,500
 $                       2,244
 $                       2,124
 $                                -
 
10/31/2014
2800 Waterford Lake Dr.
Richmond
VA
 
Alstom Power, Inc
                        99,057
 $                       1,876
 $                       2,016
 $                                -
   
1409 Centerpoint Blvd.
Knoxville
TN
 
Alstom Power, Inc.
                        84,404
 $                       1,520
 $                       1,620
 $                                -
 
12/1/2014
5150 220th Ave.
Issaquah
WA
 
Spacelabs Medical, Inc (OSI Systems, Inc.)
                      106,944
 $                       1,780
 $                       1,888
 $                                -
   
22011 SE 51st St.
Issaquah
WA
 
Spacelabs Medical, Inc (OSI Systems, Inc.)
                        95,600
 $                       1,988
 $                       2,148
 $                                -
 
12/31/2014
275 Technology Dr.
Canonsburg
PA
 
ANSYS, Inc.
                      107,872
 $                       1,240
 $                       1,376
 $                                -
   
180 South Clinton St.
Rochester
NY
 
Frontier Corporation
                     226,000
 $                       2,900
 $                       2,948
 $                                -
 
Page 17 of 41

 
Year of Lease Expiration 
Date of Lease   Expiration 
 
Property Location
 
City
 
State
 
Notes
 
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1)  
Annualized Cash Rent ($000) (2)  
Annualized GAAP Rent ($000) (3) 
Fixed Rent at Next Option ($000) (4)  
2015
1/31/2015
26555 Northwestern Hwy.
Southfield
MI
 
Federal-Mogul Corporation
                       187,163
 $                       1,160
 $                       1,420
 $                                -
 
4/30/2015
13775 McLearen Rd.
Herndon
VA
 
Equant N.V.
                      125,293
 $                       1,896
 $                       2,064
 $                                -
 
7/1/2015
4001 International Pkwy.
Carrollton
TX
 
Motel 6 Operating L.P. (Accor S.A.)
                      138,443
 $                       2,992
 $                       3,268
 $                        3,612
   
555 Dividend Dr.
Coppell
TX
 
Brinks, Inc.
                       101,844
 $                       1,556
 $                       2,448
 $                        2,633
 
8/31/2015
1701 Market St.
Philadelphia
PA
(6)
Parkway Corporation
                                    -
 $                       2,188
 $                       2,188
 $                                -
 
9/27/2015
2529 W. Thorne Dr.
Houston
TX
(5)
Baker Hughes, Inc.
                        65,500
 $                          960
 $                          848
 $                           746
 
9/30/2015
500 Olde Worthington Rd.
Westerville
OH
 
InVentiv Communications, Inc.
                        97,000
 $                       1,016
 $                       1,900
 $                                -
   
250 Turnpike Rd.
Southborough
MA
 
Kaz USA, Inc.
                        57,698
 $                          488
 $                          508
 $                                -
 
11/1/2015
700 Oakmont Ln.
Westmont
IL
 
North American Van Lines, Inc. (SIRVA, Inc.)
                      269,715
 $                       2,504
 $                       2,572
 $                                -
2016
3/31/2016
13430 N. Black Canyon Fwy.
Phoenix
AZ
(8)
Money Management
                         28,710
 $                               -
 $                               -
 $                                -
 
4/1/2016
11511 Luna Rd.
Farmers Branch
TX
 
Haggar Clothing Company
                      180,507
 $                       2,116
 $                       3,188
 $                        2,531
 
6/1/2016
1600 Viceroy Dr.
Dallas
TX
 
TFC Services (Freeman Decorating Co.)
                       110,080
 $                          992
 $                       1,492
 $                                -
 
7/31/2016
13430 N. Black Canyon Fwy.
Phoenix
AZ
 
ABS
                         17,767
 $                          300
 $                          308
 $                                -
 
10/31/2016
104 & 110 South Front St.
Memphis
TN
 
Hnedak Bobo Group, Inc.
                        37,229
 $                          484
 $                          500
 $                                -
 
11/30/2016
4000 Johns Creek Pkwy.
Suwanee
GA
 
Perkin
                         13,955
 $                          216
 $                          232
 $                                -
 
12/31/2016
37101 Corporate Dr.
Farmington Hills
MI
(6)
TEMIC Automotive of North America, Inc.
                       119,829
 $                       3,072
 $                       2,440
 $                        3,187
   
3601 Converse Dr.
Wilmington
NC
 
Verizon Wireless
                      160,500
 $                       1,532
 $                       1,644
 $                                -
2017
1/31/2017
2010 Alderson Dr.
Dallas
TX
 
Wells Fargo
                          16,431
 $                          224
 $                          216
 $                                -
 
2/28/2017
4200 RCA Blvd.
Palm Beach Gardens
FL
 
Office Suites Plus
                         18,400
 $                               -
 $                          416
 $                                -
 
9/1/2017
9201 East Dry Creek Rd.
Centennial
CO
 
The Shaw Group, Inc.
                      128,500
 $                       2,112
 $                       2,372
 $                                -
2018
6/14/2018
17 Nijborg, 3927 DA
Renswoude
Netherlands
AS Watson (Health & Beauty Continental Europe)
                        114,195
 $                       2,900
 $                       2,340
 $                                -
 
6/30/2018
2300 Litton Ln.
Hebron
KY
(8)
GAI
                           3,145
 $                               -
 $                               -
 $                                -
 
9/30/2018
1701 Market St.
Philadelphia
PA
(6)
Brinker
                          8,070
 $                          136
 $                          144
 $                                -
 
11/1/2018
4201 Marsh Ln.
Carrollton
TX
 
Carlson Restaurants Worldwide, Inc.
                      130,000
 $                       1,868
 $                       1,976
 $                                -
 
12/1/2018
5200 Metcalf Ave.
Overland Park
KS
 
Employers Reinsurance Corporation
                      320,198
 $                       4,200
 $                       4,232
 $                                -
 
12/31/2018
2200/2230 & 2222 E. Imperial Hwy. 2
El Segundo
CA
 
Raytheon Company
                     959,000
 $                       4,023
 $                       2,912
 $                        1,616
   
2200 & 2222 East Imperial Hwy. 3
El Segundo
CA
 
Raytheon Company
                      184,636
 $                       5,891
 $                       3,484
 $                        1,616
2019
1/31/2019
1600 Viceroy Dr.
Dallas
TX
 
VNA
                        48,027
 $                          476
 $                          632
 $                                -
 
4/1/2019
9201 Stateline Rd.
Kansas City
MO
 
Employers Reinsurance Corporation
                       166,641
 $                       2,004
 $                       2,004
 $                                -
 
6/19/2019
3965 Airways Blvd.
Memphis
TN
 
Federal Express Corporation
                      521,286
 $                       7,212
 $                       6,996
 $                                -
 
7/1/2019
500 Jackson St.
Columbus
IN
 
Cummins Engine Company Inc.
                     372,267
 $                       4,272
 $                       4,540
 $                        4,925
 
10/1/2019
10475 Crosspoint Blvd.
Indianapolis
IN
 
John Wiley & Sons, Inc.
                       141,047
 $                       2,396
 $                       2,268
 $                                -
 
12/1/2019
850-950 Warrenville Rd.
Lisle
IL
 
National Louis University
                        99,329
 $                       1,232
 $                        1,676
 $                                -
2020
2/14/2020
5600 Broken Sound Blvd.
Boca Raton
FL
 
Océ Printing Systems USA, Inc.
                      143,290
 $                       2,164
 $                        2,244
 $                                -
 
7/8/2020
1460 Tobias Gadsen Blvd.
Charleston
SC
 
Hagemeyer North America, Inc.
                        50,076
 $                          764
 $                           840
 $                                -
 
Page 18 of 41

 
Year of Lease Expiration  
Date of Lease   Expiration  
 
Property Location
 
City
 
State
 
Notes
 
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1)   
Annualized Cash Rent ($000) (2)   Annualized GAAP Rent ($000) (3)  Fixed Rent at Next Option ($000) (4)  
2021
2/28/2021
5550 Britton Pkwy.
Hilliard
OH
 
BMW Financial Services NA, LLC
                     220,966
 $                       2,484
 $                        2,536
 $                                -
 
6/30/2021
1415 Wyckoff Rd.
Wall Township
NJ
 
New Jersey Natural Gas Co.
                        157,511
 $                       2,924
 $                        2,924
 $                        4,224
NA
Multi-Tenant
255 California St.
San Francisco
CA
 
(Available for Lease)
                        49,799
 $                               -
 $                                -
 $                                -
 
or
       
Multi-Tenant
                      120,047
 $                       3,904
 $                        4,360
 $                                -
 
Vacant
849 Front St.
Evanston
WY
 
(Available for Lease)
                          8,479
 $                               -
 $                                -
 $                                -
           
Multi-Tenant
                          13,815
 $                            76
 $                           116
 $                                -
   
350 Pine St.
Beaumont
TX
 
(Available for Lease)
                      208,159
 $                               -
 $                               -
 $                                -
           
Multi-Tenant
                        86,494
 $                          912
 $                          912
 $                                -
   
110, 120, 130 E. Shore Dr.
Glen Allen
VA
 
(Available for Lease)
                          8,485
 $                               -
 $                               -
 $                                -
           
Multi-Tenant
                        59,023
 $                          676
 $                          836
 $                                -
   
101 E. Erie Building
Chicago
IL
 
Multi-Tenant
                         24,193
 $                          168
 $                          172
 $                                -
   
13430 N. Black Canyon Fwy.
Phoenix
AZ
 
(Available for Lease)
                        27,764
 $                               -
 $                               -
 $                                -
   
27404 Drake Rd.
Farmington Hills
MI
 
(Available for Lease)
                       110,329
 $                               -
 $                               -
 $                                -
   
1600 Viceroy Dr.
Dallas
TX
 
(Available for Lease)
                         91,345
 $                               -
 $                               -
 $                                -
   
599 Ygnacio Valley Rd.
Walnut Creek
CA
 
Multi-Tenant
                          11,708
 $                            96
 $                            96
 $                                -
   
1900 L. Don Dodson Dr.
Bedford
TX
 
(Available for Lease)
                      146,200
 $                               -
 $                               -
 $                                -
         
(8)
Multi-Tenant
                        56,293
 $                               -
 $                               -
 $                                -
   
King St.
Honolulu
HI
 
Multi-Tenant
                        211,831
 $                       2,908
 $                       2,844
 $                                -
   
2010 Alderson Dr.
Dallas
TX
 
(Available for Lease)
                         66,016
 $                               -
 $                               -
 $                                -
           
Multi-Tenant
                          91,143
 $                       1,080
 $                       1,076
 $                                -
   
2300 Litton Ln.
Hebron
KY
 
(Available for Lease)
                        34,234
 $                               -
 $                               -
 $                                -
OFFICE TOTAL/WEIGHTED AVERAGE   
95.7% Leased
       19,125,253
 $                 314,634
 $                 284,796
 
 
Page 19 of 41

 
Year of Lease Expiration  
Date of Lease Expiration  
 
Property Location
  
City
 
State
 
Notes
 
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1)   
Annualized Cash Rent ($000) (2)  
Annualized GAAP Rent ($000) (3)  
Fixed Rent at Next Option ($000) (4)  
INDUSTRIAL PROPERTIES
2007
10/31/2007
6 Doughten Rd.
New Kingstown
PA
 
Arnold Logistics, LLC
                        38,940
 $                          584
 $                          584
 $                               -
 
12/31/2007
6050 Dana Way
Antioch
TN
 
Comprehensive Logistics
                        80,000
 $                       1,164
 $                       1,164
 $                               -
   
450 Stern St.
Oberlin
OH
 
Johnson Controls, Inc.
                         111,160
 $                          748
 $                          748
 $                               -
2008
1/1/2008
3333 Coyote Hill Rd.
Palo Alto
CA
 
Xerox Corporation
                      123,000
 $                       3,980
 $                       3,360
 $                       3,499
 
2/28/2008
34 East Main St.
New Kingstown
PA
 
Quaker Sales & Distribution, Inc.
                      179,200
 $                          628
 $                          584
 $                               -
 
8/1/2008
300 Bennett Ln.
Lewisville
TX
 
Xerox Corporation
                     256,000
 $                       1,508
 $                       1,832
 $                       1,071
 
10/31/2008
US Hwy. 17
North Myrtle Beach
SC
 
Food Lion, Inc.
                        36,828
 $                          144
 $                          244
 $                          143
 
12/1/2008
1901 Ragu Dr.
Owensboro
KY
 
Ragu Foods, Inc. (Unilever United States, Inc.)
                     368,000
 $                       5,252
 $                       2,892
 $                       1,802
   
1665 Hughes Way
Long Beach
CA
 
Raytheon Company
                      200,541
 $                       2,984
 $                       1,680
 $                       1,677
 
12/31/2008
1109 Commerce Blvd.
Logan Township
NJ
 
Linens-n-Things, Inc.
                     262,644
 $                       1,260
 $                       1,252
 $                               -
2009
5/31/2009
200 Arrowhead Dr.
Hebron
OH
 
Owens Corning Insulating Systems LLC
                      401,260
 $                       1,028
 $                          984
 $                               -
 
12/31/2009
75 North St.
Saugerties
NY
 
Rotron Inc. (EG&G)
                        52,000
 $                          124
 $                          232
 $                          122
2010
4/30/2010
2203 Sherrill Dr.
Statesville
NC
 
LA-Z-Boy Greensboro, Inc. (LA-Z-Boy Incorporated)
                     639,600
 $                       1,648
 $                       1,904
 $                       1,810
 
8/17/2010
904 Industrial Rd.
Marshall
MI
 
Tenneco Automotive Operating Company, Inc. (Tenneco, Inc.)
                      195,640
 $                          612
 $                          600
 $                               -
 
12/31/2010
North Wells Rd.
North Berwick
ME
 
United Technologies Corp.
                     820,868
 $                       2,344
 $                       2,348
 $                        1,811
2011
3/31/2011
2455 Premier Dr.
Orlando
FL
 
Walgreen Co.
                      205,016
 $                          508
 $                          784
 $                           508
   
291 Park Center Dr.
Winchester
VA
 
Kraft Foods North America, Inc.
                     344,700
 $                       1,608
 $                       1,580
 $                                -
 
9/25/2011
3820 Micro Dr.
Millington
TN
(6)
Ingram Micro, L.P (Ingram Micro, Inc)
                       701,819
 $                       2,440
 $                       2,372
 $                        2,341
2012
3/19/2012
6345 Brackbill Blvd.
Mechanicsburg
PA
 
Exel Logistics, Inc. (NFC plc)
                     507,000
 $                       2,344
 $                       1,852
 $                                -
 
3/31/2012
6500 Adelaide Court
Groveport
OH
(5)
Anda Pharmaceuticals, Inc. (Andrx Corporation)
                     354,676
 $                       1,296
 $                       1,200
 $                        1,383
 
6/1/2012
7670 Hacks Cross Rd.
Olive Branch
MS
 
Mahle Clevite, Inc. (Mahle Industries, Incorporated)
                      268,100
 $                          956
 $                          916
 $                                -
 
7/1/2012
2280 Northeast Dr.
Waterloo
IA
 
Ryder Integrated Logistics, Inc. (Ryder Systems, Inc.)
                     276,480
 $                       1,076
 $                       1,004
 $                        1,251
 
8/1/2012
187 Spicer Dr.
Gordonsville
TN
 
Dana Corporation
                      148,000
 $                          356
 $                          356
 $                                -
 
8/4/2012
101 Michelin Dr.
Laurens
SC
(6)
TNT Logistics North America, Inc. (TPG N.V.)
                    1,164,000
 $                       3,104
 $                       3,300
 $                        2,619
   
7111 Crabb Rd.
Temperance
MI
(6)
CEVA Logistics US, Inc. (TNT Holdings)
                     744,570
 $                       2,076
 $                       2,216
 $                        1,756
 
10/31/2012
43955 Plymouth Oaks Blvd.
Plymouth
MI
 
Tower Automotive Operations USA I, LLC (Tower Automotive Holdings I, LLC)
                      290,133
 $                       1,884
 $                       1,832
 $                        2,083
 
12/31/2012
245 Salem Church Rd.
Mechanicsburg
PA
 
Exel Logistics, Inc. (NFC plc)
                     252,000
 $                          868
 $                          864
 $                                -
2013
10/1/2013
7150 Exchequer Dr.
Baton Rouge
LA
 
Corporate Express Office Products, Inc. (Buhrmann, N.V.)
                        79,086
 $                          436
 $                          440
 $                                -
2014
1/1/2014
Moody Commuter & Tech Park
Moody
AL
(5)
TNT Logistics North America, Inc. (TPG N.V.)
                     595,346
 $                       1,052
 $                       1,052
 $                        1,054
 
1/31/2014
1133 Poplar Creek Rd.
Henderson
NC
 
Corporate Express Office Products, Inc. (Buhrmann, N.V.)
                      196,946
 $                          788
 $                          808
 $                                -
 
4/30/2014
12025 Tech Center Dr.
Livonia
MI
(6)
Kelsey-Hayes Company (TRW Automotive Inc.)
                      100,000
 $                       1,100
 $                       1,140
 $                        1,230
 
12/1/2014
3686 South Central Ave.
Rockford
IL
 
Jacobson Warehouse Company, Inc. (Jacobson Transportation Company, Inc.)
                        90,000
 $                          332
 $                          316
 $                           446
2015
5/31/2015
300 McCormick Rd.
Columbus
OH
 
SBC Services, Inc.
                        20,000
 $                          132
 $                          156
 $                           154
 
7/31/2015
7005 Cochran Rd.
Glenwillow
OH
(6)
Royal Appliance Mfg. Co.
                     458,000
 $                       1,876
 $                       2,152
 $                        2,040
 
12/1/2015
749 Southrock Dr.
Rockford
IL
 
Jacobson Warehouse Company, Inc. (Jacobson Transportation Company, Inc.)
                      150,000
 $                          452
 $                          488
 $                           525
 
Page 20 of 41

 
Year of Lease Expiration 
Date of Lease Expiration 
 
Property Location
   
City
 
State
 
Notes
 
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1)   Annualized Cash Rent ($000) (2)  Annualized GAAP Rent ($000) (3)   Fixed Rent at Next Option ($000) (4) 
2016
3/1/2016
19500 Bulverde Rd.
San Antonio
TX
 
Harcourt Brace & Company (Pearson PLC)
                     559,258
 $                       3,332
 $                      3,428
 $                                -
 
8/1/2016
10590 Hamilton Ave.
Cincinnati
OH
 
The Hillman Group, Inc.
                     247,000
 $                          792
 $                          792
 $                                -
 
9/1/2016
900 Industrial Blvd.
Crossville
TN
(6)
Dana Corporation
                     222,200
 $                          684
 $                          684
 $                           802
2017
2/1/2017
3456 Meyers Ave.
Memphis
TN
 
Sears, Roebuck & Company
                     780,000
 $                       1,592
 $                       1,696
 $                        1,592
 
5/31/2017
50 Tyger River Dr.
Duncan
SC
 
Plastic Omnium Exterior LLC
                       218,122
 $                          900
 $                          900
 $                                -
 
6/1/2017
7500 Chavenelle Rd.
Dubuque
IA
 
The McGraw-Hill Companies, Inc.
                     330,988
 $                       1,088
 $                       1,164
 $                                -
 
9/30/2017
250 Swathmore Ave.
High Point
NC
 
Steelcase, Inc.
                      244,851
 $                       1,044
 $                       1,088
 $                        1,165
 
10/31/2017
1420 Greenwood Rd.
McDonough
GA
 
Atlas Cold Storage America LLC
                     296,972
 $                       2,444
 $                       2,596
 $                                -
2018
6/30/2018
1650-1654 Williams Rd.
Columbus
OH
(6)
ODW Logistics, Inc.
                     772,450
 $                       1,348
 $                       1,344
 $                         1,347
2019
10/1/2019
10345 Philipp Parkway
Streetsboro
OH
 
L’Oreal USA, Inc.
                     649,250
 $                       2,292
 $                       2,612
 $                         3,149
2020
3/31/2020
2425 Hwy. 77 North
Waxahachie
TX
 
James Hardie Building Products, Inc. (James Hardie NV)
                      425,816
 $                       3,400
 $                       3,400
 $                                -
 
6/30/2020
3102 Queen Palm Dr.
Tampa
FL
 
Time Customer Service, Inc. (Time, Inc.)
                     229,605
 $                       1,084
 $                       1,264
 $                                -
 
9/1/2020
3350 Miac Cove Rd.
Memphis
TN
 
Mimeo.com, Inc.
                      107,405
 $                          324
 $                          372
 $                                -
2021
3/1/2021
121 Technology Dr.
Durham
NH
 
Heidelberg Web Systems, Inc.
                     500,500
 $                       3,296
 $                       2,000
 $                                -
 
3/31/2021
6050 Dana Way
Antioch
TN
 
W.M Wright Company
                     338,700
 $                       1,016
 $                       1,016
 $                                -
 
5/31/2021
477 Distribution Pkwy.
Collierville
TN
 
Federal Express Corporation
                      120,000
 $                          480
 $                          404
 $                                -
 
11/30/2021
2880 Kenny Biggs Rd.
Lumberton
NC
 
Quickie Manufacturing Corp.
                     308,000
 $                       1,220
 $                       1,356
 $                                -
 
12/31/2021
159 Farley Dr.
Dillon
SC
 
Harbor Freight Tools USA, Inc. (Central Purchasing, Inc.)
                    1,010,859
 $                       2,956
 $                       3,072
 $                                -
2026
7/1/2026
5001 Greenwood Rd.
Shreveport
LA
 
Libbey Glass, Inc.
                     646,000
 $                       1,940
 $                       2,164
 $                                -
NA
Multi-Tenant
46600 Port St.
Plymouth
MI
(7)
(Available for Lease)
                       134,160
 $                          688
 $                          688
 $                                -
 
or
6050 Dana Way
Antioch
TN
 
(Available for Lease)
                     258,700
 $                               -
 $                               -
 $                                -
 
Vacant
6 Doughten Rd.
New Kingstown
PA
 
(Available for Lease)
                      291,060
 $                               -
 $                               -
 $                                -
   
3350 Miac Cove Rd.
Memphis
TN
 
(Available for Lease)
                        33,954
 $                               -
 $                               -
 $                                -
   
191 Arrowhead Dr.
Hebron
OH
(7)
(Available for Lease)
                     250,450
 $                          220
 $                          220
 $                                -
   
4425 Purks Rd.
Auburn Hills
MI
 
(Available for Lease)
                       183,717
 $                               -
 $                               -
 $                                -
INDUSTRIAL TOTAL/WEIGHTED AVERAGE   
94.2% Leased
       19,871,570
 $          80,832
 $          77,496
 
 
 
Page 21 of 41

 
Year of Lease Expiration
Date of Lease Expiration
Property Location
City
State
Notes
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1)
Annualized Cash Rent ($000) (2)
Annualized GAAP Rent ($000) (3)
Fixed Rent at Next Option ($000) (4)  
RETAIL PROPERTIES           
2007
11/1/2007
101 West Buckingham Rd.
Garland
TX
 
Safeway Stores, Inc.
                        40,000
 $                          680
 $                          460
 $                           326
   
1415 Hwy. 377 East
Granbury
TX
 
Safeway Stores, Inc.
                        35,000
 $                          424
 $                          316
 $                           203
   
120 South Waco St.
Hillsboro
TX
 
Safeway Stores, Inc.
                        35,000
 $                          336
 $                            60
 $                           161
2008
2/1/2008
3211 W. Beverly St.
Staunton
VA
 
Food Lion, Inc.
                        23,000
 $                          164
 $                          164
 $                           166
   
291 Talbet Blvd.
Lexington
NC
 
Food Lion, Inc.
                        23,000
 $                          140
 $                          116
 $                           138
   
Gum Branch Rd.
Jacksonville
NC
 
Food Lion, Inc.
                        23,000
 $                            84
 $                          112
 $                             84
   
US 221 & Hospital Rd.
Jefferson
NC
 
Food Lion, Inc.
                        23,000
 $                            72
 $                            92
 $                             73
   
S. Carlina 52/52 Bypass
Moncks Corner
SC
 
Food Lion, Inc.
                        23,000
 $                            60
 $                          124
 $                             62
 
7/1/2008
1600 East 23rd St.
Chattanooga
TN
 
The Kroger Co.
                         42,130
 $                          708
 $                          348
 $                           240
   
1053 Mineral Springs Rd.
Paris
TN
 
The Kroger Co.
                          31,170
 $                          468
 $                         (76)
 $                           159
 
10/1/2008
130 Midland Ave.
Portchester
NY
 
Pathmark Stores, Inc.
                        59,000
 $                       1,116
 $                       1,196
 $                           458
   
Julian Ave./Clominger St.
Thomasville
NC
 
Food Lion, Inc.
                         21,000
 $                          108
 $                          108
 $                           106
 
12/1/2008
500 East Harbor Blvd.
Ventura
CA
 
City of San Buenaventura
                        39,600
 $                          788
 $                          980
 $                           896
   
4733 Hills & Dales Rd.
Canton
OH
 
Bally Total Fitness of the Midwest, Inc. (Bally Total Fitness Holding Corporation)
                         37,214
 $                          760
 $                          684
 $                           456
   
7200 Cradle Rock Way
Columbia
MD
 
GFS Realty, Inc.
                        57,209
 $                          300
 $                          412
 $                           146
2009
1/1/2009
35400 Cowan Rd.
Westland
MI
 
Sam’s Real Estate Business Trust
                       101,402
 $                          752
 $                          752
 $                                -
 
2/1/2009
N.E.C. 45th St./Lee Blvd.
Lawton
OK
 
Safeway Stores, Inc.
                        30,757
 $                          332
 $                          204
 $                           185
 
3/1/2009
228th Ave., N.E.
Redmond
WA
 
Safeway Stores, Inc.
                         44,718
 $                          504
 $                          508
 $                           279
   
2500 E. Carrier Pkwy.
Grand Prairie
TX
 
Safeway Stores, Inc.
                        49,349
 $                          496
 $                          372
 $                           274
   
Meridan & 65th
Milton
WA
 
Safeway Stores, Inc.
                         44,718
 $                          476
 $                          416
 $                           264
   
224th St. & Meridan
Graham
WA
 
Safeway Stores, Inc.
                         44,718
 $                          412
 $                          384
 $                           229
   
4512 N Market
Spokane
WA
 
Safeway Stores, Inc
                        38,905
 $                          376
 $                          264
 $                           208
   
Grant Rd. & Craycroft
Tucson
AZ
 
Safeway Stores, Inc.
                        37,268
 $                          364
 $                          304
 $                           202
   
1642 Williams Ave.
Grants Pass
OR
 
Safeway Stores, Inc.
                        33,770
 $                          292
 $                          216
 $                           162
   
Bisbee Naco Hwy. & Hwy. 92
Bisbee
AZ
 
Safeway Stores, Inc.
                          30,181
 $                          272
 $                          204
 $                           152
 
3/31/2009
849 Front St.
Evanston
WY
 
Bank of the West
                          7,206
 $                            40
 $                            56
 $                                -
 
9/1/2009
Fort St. Mall, King St.
Honolulu
HI
 
Macy's, Inc.
                         85,610
 $                          988
 $                          972
 $                           990
 
Page 22 of 41

 
Year of Lease Expiration
Date of Lease Expiration 
Property Location
City
State
Notes
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1) 
Annualized Cash Rent ($000) (2) 
Annualized GAAP Rent ($000) (3)
Fixed Rent at Next Option ($000) (4) 
 
12/1/2009
1066 Main St.
Forest Park
GA
 
Bank of America
                         14,859
 $                          248
 $                          188
 $                           199
   
201 West Main St.
Cumming
GA
 
Bank of America
                         14,208
 $                          244
 $                          288
 $                           198
   
205 Homer Rd.
Minden
LA
 
Safeway Stores, Inc.
                        35,000
 $                          404
 $                          284
 $                           193
   
3468 Georgia Hwy. 120
Duluth
GA
 
Bank of America
                          9,300
 $                          164
 $                          152
 $                           133
   
2223 North Druid Hills Rd.
Atlanta
GA
 
Bank of America
                          6,260
 $                          140
 $                            96
 $                           112
   
1698 Mountain Indus. Blvd.
Stone Mountain
GA
 
Bank of America
                          5,704
 $                          116
 $                            88
 $                             95
   
4545 Chamblee – Dunwoody Rd.
Chamblee
GA
 
Bank of America
                          4,565
 $                          108
 $                            76
 $                             88
   
956 Ponce de Leon Ave.
Atlanta
GA
 
Bank of America
                          3,900
 $                            96
 $                            88
 $                             78
   
825 Southway Dr.
Jonesboro
GA
 
Bank of America
                          4,894
 $                            96
 $                            64
 $                             77
2010
5/1/2010
24th St. West & St. John’s Ave.
Billings
MT
 
Safeway Stores, Inc.
                        40,800
 $                          188
 $                          332
 $                           186
 
7/31/2010
10340 U.S. 19
Port Richey
FL
(8)
Kingswere Furniture (Ashley Furniture Industries, Inc.)
                        53,820
 $                               -
 $                               -
 $                           400
 
11/1/2010
4160 Monument Rd.
Philadelphia
PA
 
Pathmark Stores, Inc.
                        50,000
 $                          404
 $                          728
 $                           404
2011
5/1/2011
150 N.E. 20th St.
Newport
OR
 
Fred Meyer, Inc.
                        118,179
 $                          828
 $                          828
 $                            828
   
12535 S.E. 82nd Ave.
Clackamas
OR
 
Toys “R” Us, Inc.
                        42,842
 $                          304
 $                          324
 $                            300
   
18601 Alderwood Mall Blvd.
Lynnwood
WA
 
Toys “R” Us, Inc.
                         43,105
 $                          280
 $                          300
 $                            279
   
10 South Ave.
Garwood
NJ
 
Pathmark Stores, Inc.
                        52,000
 $                          320
 $                       1,060
 $                            277
   
6910 S. Memorial Hwy.
Tulsa
OK
 
Toys “R” Us, Inc.
                         43,123
 $                          256
 $                          272
 $                            256
   
4811 Wesley St.
Greenville
TX
 
Safeway Stores, Inc.
                        48,427
 $                          172
 $                          240
 $                            171
 
9/1/2011
928 First Ave.
Rock Falls
IL
 
Rock Falls Country Market, LLC (Rock Island Country Market, LLC)
                        27,650
 $                            64
 $                            96
 $                            140
 
12/1/2011
13133 Steubner Ave.
Houston
TX
 
The Kroger Co.
                        52,200
 $                          280
 $                          404
 $                           281
   
2440 Bardstown Rd.
Louisville
KY
 
The Kroger Co.
                         40,019
 $                               -
 $                               -
 $                            245
   
2410 Bardstown Rd.
Louisville
KY
 
CVS (The Kroger Co.)
                          9,600
 $                               -
 $                               -
 $                              42
 
12/31/2011
2000 East Main St.
Columbus
OH
 
The Kroger Co.
                         34,019
 $                               -
 $                               -
 $                            294
2012
3/1/2012
3451 Alta Mesa Blvd.
Fort Worth
TX
 
Safeway Stores, Inc.
                        44,000
 $                          304
 $                          360
 $                            304
 
4/1/2012
4121 South Port Ave.
Corpus Christi
TX
 
Furrs Cafeterias Operators LP
                         10,000
 $                          164
 $                          136
 $                                -
   
901 West Expressway
McAllen
TX
 
Furrs Cafeterias Operators LP
                         10,000
 $                          164
 $                          164
 $                                -
   
900 South Canal St.
Carlsbad
NM
 
Furrs Cafeterias Operators LP
                         10,000
 $                          164
 $                          104
 $                                -
   
119 North Balboa Rd.
El Paso
TX
 
Furrs Cafeterias Operators LP
                         10,000
 $                          164
 $                          136
 $                                -
   
10415 Grande Ave.
Sun City
AZ
 
Furrs Cafeterias Operators LP
                         10,000
 $                          164
 $                          264
 $                                -
   
402 East Crestwood Dr.
Victoria
TX
 
Furrs Cafeterias Operators LP
                         10,000
 $                          164
 $                          116
 $                                -
 
5/1/2012
Old Mammoth Rd./Meridian Blvd.
Mammoth Lakes
CA
 
Safeway Stores, Inc.
                        44,425
 $                          412
 $                          576
 $                           410
   
12000 East Mississippi Ave.
Aurora
CO
 
Safeway Stores, Inc.
                        24,000
 $                          256
 $                          276
 $                           257
 
8/1/2012
1400 Stoneridge Mall
Pleasanton
CA
 
Macy's, Inc.
                      175,000
 $                       1,176
 $                       1,584
 $                                -
 
 
Page 23 of 41

 
Year of Lease Expiration 
Date of Lease Expiration   
Property Location
 
City
 
State
 
Notes
 
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1) 
Annualized Cash Rent ($000) (2) 
Annualized GAAP Rent ($000) (3) 
Fixed Rent at Next Option ($000) (4)
2013
7/1/2013
302 Croxcreek Pkwy.
Florence
AL
 
The Kroger Co.
                         42,130
 $                          660
 $                          312
 $                           112
 
10/1/2013
Brown Mill Rd./US 601
Concord
NC
 
Food Lion, Inc.
                        32,259
 $                          196
 $                          164
 $                           197
   
5104 North Franklin Rd.
Lawrence
IN
 
Marsh Supermarkets, Inc.
                         28,721
 $                          192
 $                          192
 $                           193
   
502 East Carmel Dr.
Carmel
IN
 
Marsh Supermarkets, Inc.
                        38,567
 $                          156
 $                          284
 $                           159
   
1084 East Second St.
Franklin
OH
 
Marsh Supermarkets, Inc.
                          29,119
 $                          112
 $                          156
 $                           111
   
Little Rock Rd./Tuckaseegee Rd.
Charlotte
NC
 
Food Lion, Inc.
                        33,640
 $                            96
 $                          152
 $                             98
2014
2/1/2014
9580 Livingston Rd.
Oxon Hill
MD
 
GFS Realty, Inc. (Giant Food, Inc.)
                      107,337
 $                          204
 $                          272
 $                           164
 
4/16/2014
24100 Laguna Hills Mall
Laguna Hills
CA
 
Macy's, Inc.
                      160,000
 $                          292
 $                          348
 $                                -
 
12/24/2014
1700 State Route 160
Port Orchard
WA
(8)
Moran Foods (Save A Lot)
                         16,037
 $                               -
 $                               -
 $                             97
2015
1/1/2015
3711 Gateway Dr.
Eau Claire
WI
 
Kohl’s Dept. Stores, Inc.
                         76,164
 $                          468
 $                          464
 $                           487
2016
12/1/2016
270 Fashion Valley Rd.
San Diego
CA
 
Nordstrom, Inc.
                      225,919
 $                       1,600
 $                       2,808
 $                                -
2017
1/1/2017
1610 South Westmoreland Ave.
Dallas
TX
 
Malone’s Food Stores
                        68,024
 $                          360
 $                          480
 $                           376
 
4/1/2017
2401 Wooton Pkwy.
Rockville
MD
 
GFS Realty, Inc. (Giant Food, Inc.)
                         51,682
 $                          116
 $                          152
 $                             92
 
8/1/2017
5544 Atlanta Hwy.
Montgomery
AL
 
Beasley Development LLC
                        60,698
 $                          248
 $                          264
 $                                -
2018
2/1/2018
4831 Whipple Ave., N.W.
Canton
OH
 
Best Buy Co., Inc.
                        46,350
 $                          464
 $                          464
 $                           465
 
2/26/2018
399 Peach Wood Centre Dr.
Spartanburg
SC
 
Best Buy Co., Inc.
                        45,800
 $                          396
 $                          396
 $                           395
 
8/1/2018
2014 Cottman Ave.
Philadelphia
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          208
 $                          108
 $                           101
   
363 West Lancaster Ave.
Wayne
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          200
 $                          132
 $                             97
   
2001-03 Broad St.
Philadelphia
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          200
 $                          104
 $                             96
   
15 South 52nd St.
Philadelphia
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          188
 $                            88
 $                             90
   
1055 West Baltimore Pike
Lima
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          168
 $                          128
 $                             82
   
7323-29 Frankford Ave.
Philadelphia
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          164
 $                          128
 $                             79
   
25 East Main St.
Lansdale
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          156
 $                            72
 $                             75
   
1025 West Lehigh Ave.
Philadelphia
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          148
 $                            64
 $                             72
   
10650 Bustleton Ave.
Philadelphia
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          148
 $                            88
 $                             71
   
559 North Main St.
Doylestown
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          148
 $                          100
 $                             71
   
4947 North Broad St.
Philadelphia
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          140
 $                            80
 $                            67
   
15 Newton – Richboro Rd.
Richboro
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                          136
 $                            88
 $                            66
   
6201 North 5th St.
Philadelphia
PA
 
Citizens Bank of Pennsylvania
                          3,800
 $                            44
 $                            32
 $                             21
 
12/1/2018
255 Northgate Dr.
Manteca
CA
 
Kmart Corporation
                      107,489
 $                       1,192
 $                          556
 $                                -
   
97 Seneca Trail
Fairlea
WV
 
Kmart Corporation
                        90,933
 $                          788
 $                          348
 $                                -
   
5350 Leavitt Rd.
Lorain
OH
 
Kmart Corporation
                       193,193
 $                       1,684
 $                          732
 $                                -
   
12080 Carmel Mountain Rd.
San Diego
CA
 
Kmart Corporation
                       107,210
 $                          760
 $                          752
 $                                -
   
1150 West Carl Sandburg Dr.
Galesburg
IL
 
Kmart Corporation
                        94,970
 $                          668
 $                          332
 $                                -
   
21082 Pioneer Plaza Dr.
Watertown
NY
 
Kmart Corporation
                      120,727
 $                       1,120
 $                          484
 $                                -
 
Page 24 of 41

 
Year of Lease Expiration 
Date of Lease Expiration
 
Property Location
  
City
 
State
 
Notes
 
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1)  
Annualized Cash Rent ($000) (2)  
Annualized GAAP Rent ($000) (3)  
Fixed Rent at Next Option ($000) (4) 
2021
1/1/2021
3040 Josey Ln.
Carrollton
TX
 
Ong’s Family Inc.
                         61,000
 $                          240
 $                          404
 $                                -
2028
2/28/2028
2010 Apalachee Pkwy.
Tallahassee
FL
(8)
Kohl's Department Stores, Inc.
                        53,820
 $                               -
 $                               -
 $                           484
NA
Multi-Tenant
Kipling St. & Bowles Ave.
Littleton
CO
 
(Available for Lease)
                        29,360
 $                               -
 $                               -
 $                                -
 
or
9400 South 755 East
Sandy
UT
 
(Available for Lease)
                          41,612
 $                               -
 $                               -
 $                                -
 
Vacant
5402 4th St.
Lubbock
TX
 
(Available for Lease)
                        53,820
 $                               -
 $                               -
 $                                -
   
1606 North Bend Rd.
Cincinnati
OH
 
Vacant*
                        25,628
 $                               -
 $                               -
 $                                -
   
9803 Edmonds Way
Edmonds
WA
 
(Available for Lease)
                        35,459
 $                               -
 $                               -
 $                                -
   
1700 State Route 160
Port Orchard
WA
 
(Available for Lease)
                           11,931
 $                               -
 $                               -
 $                                -
   
15220 East 6th Ave.
Aurora
CO
 
(Available for Lease)
                         41,384
 $                               -
 $                               -
 $                                -
   
3621 E Lincoln Way
Cheyenne
WY
 
(Available for Lease)
                         31,420
 $                               -
 $                               -
 $                                -
 
RETAIL TOTAL/WEIGHTED AVERAGE   
93.8% Leased
        4,374,627
 $          33,416
 $           31,100
 
 
Page 25 of 41

 
Year of Lease Expiration
Date of Lease Expiration
Property Location
City
State
Notes
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1) 
Annualized Cash Rent ($000) (2) 
Annualized GAAP Rent ($000) (3)
Fixed Rent at Next Option ($000) (4)
SPECIALTY ASSETS         
2008
8/31/2008
1601 Pratt Ave.
Marshall
MI
 
Joseph Campbell Company
                        58,300
 $                          144
 $                          144
 $                           148
 
10/31/2008
3943 Denny Ave.
Pascagoula
MS
 
Northrop Grumman Systems Corporation
                         94,841
 $                          680
 $                          680
 $                                -
 
12/31/2008
120 SE Parkway Dr.
Franklin
TN
 
United Technologies Corp.
                     289,330
 $                       1,476
 $                          952
 $                           735
2009
9/30/2009
109 Stevens St.
Jacksonville
FL
 
Unisource Worldwide, Inc
                      168,800
 $                          604
 $                          588
 $                                -
2010
10/1/2010
5201 West Barraque St.
Pine Bluff
AR
 
Entergy Services, Inc.
                         27,189
 $                          192
 $                          192
 $                           192
   
601 & 701 Experian Pkwy.
Allen
TX
 
Experian Information Solutions, Inc. (TRW Inc.)
                     292,700
 $                       3,612
 $                       3,372
 $                                -
 
10/31/2010
265 Lehigh St.
Allentown
PA
 
Wachovia Bank N.A.
                         71,230
 $                          248
 $                          564
 $                                -
2011
5/1/2011
1200 Jupiter Rd.
Garland
TX
 
Raytheon Company
                     278,759
 $                       1,508
 $                       1,732
 $                                -
 
7/1/2011
19019 N. 59th Ave.
Glendale
AZ
 
Honeywell, Inc.
                     252,300
 $                       2,452
 $                       2,452
 $                                -
2012
4/1/2012
3600 Army Post Rd.
Des Moines
IA
(6)
EDS Information Services LLC (Electronic Data Systems Corporation)
                     405,000
 $                       2,772
 $                       2,916
 $                        3,118
 
5/1/2012
101 Creger Dr.
Ft. Collins
CO
 
Lithia Motors
                         10,000
 $                          272
 $                          240
 $                           250
2013
5/31/2013
2401 Cherahala Blvd.
Knoxville
TN
 
Advance PCS, Inc.
                        59,748
 $                          900
 $                          820
 $                                -
 
6/1/2013
8555 S. River Pkwy.
Tempe
AZ
 
ASM Lithography Holding NV
                         95,133
 $                       2,132
 $                       1,840
 $                                -
 
6/30/2013
420 Riverport Rd.
Kingsport
TN
 
American Electric Power
                        42,770
 $                          468
 $                            20
 $                           310
2014
1/1/2014
1401 & 1501 Nolan Ryan Parkway
Arlington
TX
 
Siemens Dematic Postal Automation, L.P.
                     236,547
 $                       2,384
 $                       2,588
 $                                -
 
4/30/2014
12000 Tech Center Dr.
Livonia
MI
(6)
Kelsey-Hayes Company (TRW Automotive Inc.)
                        80,230
 $                          800
 $                          824
 $                           918
 
12/31/2014
324 Industrial Park Rd.
Franklin
NC
(5)
SKF USA, Inc.
                        72,868
 $                          396
 $                          396
 $                           395
2015
6/1/2015
2935 Van Vactor Dr.
Plymouth
IN
 
Bay Valley Foods, LLC
                     300,500
 $                          772
 $                          804
 $                           853
   
1901 49th Ave.
Minneapolis
MN
(5)
Owens Corning Roofing and Asphalt, LLC
                         18,620
 $                          576
 $                          576
 $                           663
   
3711 San Gabriel
Mission
TX
 
Voice Stream PCS II Corporation (T-Mobile USA, Inc.)
                         75,016
 $                          900
 $                       1,008
 $                                -
 
6/30/2015
2500 Patrick Henry Pkwy
McDonough
GA
 
Georgia Power Company
                          111,911
 $                       1,452
 $                       1,524
 $                                -
 
7/1/2015
70 Mechanic St.
Foxboro
MA
 
Invensys Systems, Inc. (Siebe, Inc.)
                       251,914
 $                       2,992
 $                       2,624
 $                        2,562
 
9/27/2015
10001 Richmond Ave.
Houston
TX
(5)
Baker Hughes, Inc.
                     554,385
 $                       7,920
 $                       7,376
 $                        6,596
   
9110 Grogans Mill Rd.
The Woodlands
TX
(6)
Baker Hughes, Inc.
                     275,750
 $                       3,696
 $                       3,080
 $                        2,756
   
12645 W. Airport Rd.
Sugar Land
TX
(5)
Baker Hughes, Inc.
                      165,836
 $                       2,360
 $                       1,948
 $                        1,976
 
10/1/2015
3600 Southgate Dr.
Danville
IL
 
Sygma Network, Inc. (Sysco Corporation)
                      149,500
 $                          932
 $                          932
 $                        1,027
2016
1/31/2016
1600 Eberhardt Rd.
Temple
TX
 
Nextel of Texas
                      108,800
 $                       1,524
 $                       1,560
 $                                -
 
5/1/2016
6455 State Hwy 303 NE
Bremerton
WA
 
Nextel West Corporation
                        60,200
 $                       1,084
 $                       1,112
 $                                -
 
9/1/2016
1440 E. 15th St.
Tucson
AZ
 
Cox Communications, Inc.
                         28,591
 $                          464
 $                          456
 $                                -
 
11/1/2016
736 Addison Rd.
Erwin
NY
 
Corning, Inc.
                     408,000
 $                       1,096
 $                       1,096
 $                                -
2017
12/1/2017
11411 N. Kelly Avenue
Oklahoma City
OK
 
American Golf Corporation
                         13,924
 $                          476
 $                          476
 $                                -
2019
1/31/2019
2999 SW 6th St.
Redmond
OR
 
Voice Stream PCS I LLC (T-Mobile USA, Inc.)
                        77,484
 $                       1,436
 $                       1,552
 $                                -
 
6/1/2019
3265 E. Goldstone Dr.
Meridian
ID
 
Voicestream PCS II Corporation (T-Mobile USA, Inc.)
                        77,484
 $                       1,216
 $                       1,292
 $                                -
 
10/1/2019
9601 Renner Blvd.
Lenexa
KS
 
Voicestream PCS II Corporation (T-Mobile USA, Inc.)
                        77,484
 $                       1,220
 $                       1,376
 $                                -
 
10/31/2019
26410 McDonald Rd.
The Woodlands
TX
 
Montgomery County Management  Company LLC
                         41,000
 $                          716
 $                          808
 $                                -
 
Page 26 of 41

 
Year of Lease Expiration 
Date of Lease Expiration 
Property Location
City
State
Notes
Primary Tenant (Guarantor)
Sq.Ft. Leased or Available (1)  
Annualized Cash Rent ($000) (2)  
Annualized GAAP Rent ($000) (3) 
Fixed Rent at Next Option ($000) (4) 
2020
5/31/2020
359 Gateway Dr.
Lavonia
GA
 
TI Group Automotive Systems, LLC
                       133,221
 $                       1,200
 $                       1,200
 $                        1,260
 
6/1/2020
10419 N. 30th St.
Tampa
FL
 
Time Customer Service, Inc. (Time, Inc.)
                       132,981
 $                       1,220
 $                       1,288
 $                                -
 
8/31/2020
First Park Dr.
Oakland
ME
(6)
Omnipoint Holdings, Inc. (T-Mobile USA, Inc.)
                         78,610
 $                       1,216
 $                       1,208
 $                        1,562
 
11/30/2020
11555 University Blvd.
Sugar Land
TX
 
KS Management Services, LLP (St. Luke’s Episcopal Health System Corporation)
                        72,683
 $                       1,116
 $                       1,228
 $                                -
2021
10/25/2021
6938 Elm Valley Dr.
Kalamazoo
MI
 
Dana Corporation
                      150,945
 $                       1,844
 $                       1,844
 $                                -
 
11/30/2021
29 S. Jefferson Rd.
Whippany
NJ
 
CAE SimuFlite, Inc.
                        76,383
 $                       2,232
 $                       2,328
 $                        2,069
2025
6/1/2025
750 N. Black Branch Rd.
Elizabethtown
KY
 
Dana Corporation
                     539,592
 $                       2,840
 $                       2,840
 $                        2,960
   
301 Bill Bryan Blvd.
Hopkinsville
KY
 
Dana Corporation
                     424,904
 $                       1,688
 $                       1,688
 $                        1,756
   
10000 Business Blvd.
Dry Ridge
KY
 
Dana Corporation
                     336,350
 $                       1,344
 $                       1,344
 $                        1,402
   
4010 Airpark Dr.
Owensboro
KY
 
Dana Corporation
                       211,598
 $                       1,208
 $                       1,208
 $                        1,254
   
730 N. Black Branch Rd.
Elizabethtown
KY
 
Dana Corporation
                      167,770
 $                          536
 $                          536
 $                           558
 
7/14/2025
590 Ecology Ln.
Chester
SC
 
Owens Corning
                     420,597
 $                       2,184
 $                       2,184
 $                        1,678
 
11/1/2025
11707 Miracle Hills Dr.
Omaha
NE
 
(i) Structure, LLC (Infocrossing, Inc.)
                        86,800
 $                       1,168
 $                       1,168
 $                                -
 
12/1/2025
2005 E. Technology Cir.
Tempe
AZ
 
(i) Structure, LLC (Infocrossing, Inc.)
                        60,000
 $                       1,128
 $                       1,128
 $                                -
2026
8/31/2026
25500 State Hwy 249
Tomball
TX
(6)
Parkway Chevrolet, Inc.
                        77,076
 $                       1,232
 $                       1,488
 $                        1,785
2027
4/30/2027
2424 Alpine Rd.
Eau Claire
WI
(6)
Silver Spring Gardens, Inc. (Huntsinger Farms, Inc.)
                      159,000
 $                          932
 $                       1,164
 $                        1,414
 
SPECIALTY ASSETS TOTAL/WEIGHTED AVERAGE  
100.0% Leased
        8,460,654
 $          74,960
 $          73,764
 
           
 
TOTAL CONSOLIDATED PORTFOLIO/WEIGHTED AVERAGE
95.8% Leased
       51,832,104
 $        503,842
 $        467,156
 

(1) Square foot leased or vacant includes those tenants with month-to-month leases.    
(2) Annualized cash rent is calculated as follows:  quarterly rent obligation for the reported period,  multiplied by 4.    
(3) Annualized GAAP rent is calculated as follows: quarterly GAAP rent, multiplied by 4.    
(4) Rent at option rate listed for those lease contracts where a set rent in dollars is specified.    
(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, property is now vacant.      
(8) Tenant occupies space, rent has not yet commenced.       
(9) Air space or parking space, no designated square feet.       
           
 
Page 27 of 41

 
LEXINGTON REALTY TRUST
2007 Third Quarter Disposition Summary
                                 
DISPOSITIONS
 
Tenants/Guarantors
   
Location
   
Property Type
 
Gross Sale Price ($000) 
 
Gain Recognized ($000) 
 
Cash Cap Rate
 
GAAP Cap Rate
   
Month of Disposition
 
Michael's Stores, Inc.
 
Lancaster
CA
 
Industrial
 
 $            45,284
 
 $            18,902
 
7.2%
 
7.3%
 
Sep
 
Safeway Stores, Inc.
 
Albuquerque
NM
 
Retail
 
4,200
 
0
 
7.6%
 
8.5%
 
Jul
 
Reed Elsevier, Inc.
 
Miamisburg (2 properties)
OH
 
Office
 
14,500
 
0
 
7.3%
 
6.7%
 
Aug
 
Quest Diagnostics, Inc.
 
Valley Forge
PA
 
Office
 
26,700
 
7,346
 
8.5%
 
8.1%
 
Sep
 
Greyhound Lines, Inc.
 
Stockton
CA
 
Other
 
1,970
 
732
 
11.4%
 
11.4%
 
Sep
 
Vacant
 
Warren
OH
 
Industrial
 
15,800
 
0
 
N/A
 
N/A
 
Sep
 
CSK/Goodyear
 
Various (16 locations)
   
Retail
 
11,081
 
0
 
7.1%
 
12.0%
 
Sep
 
TOTAL DISPOSITIONS (23)
         
 $          119,535
 
 $            26,980
 
7.6%
 
8.0%
     
 
 
 
 
 
 
Page 28 of 41

 
LEXINGTON REALTY TRUST
2007 Third Quarter Financings and Leasing Activity
                             
 
PROPERTY FINANCINGS
                         
       
Tenants/Guarantors
 
Location
     
Property Type
 
Amount ($000)
 
Interest Rate
   
Maturity Date
 
New or Refinance
 
1
Cummins Engine
Columbus
IN
 
Office
 
 $            42,800
 
6.15%
 
Sep-2014
 
New
 
2
Nevada Power
Las Vegas
NV
 
Office
 
               22,245
 
6.15%
 
Feb-2014
 
New
 
3
Nevada Power
Las Vegas
NV
 
Office
 
               31,235
 
6.15%
 
Sep-2014
 
New
 
4
Federal Express
Memphis
TN
 
Office
 
               11,388
 
6.15%
 
Sep-2014
 
New
 
5
Federal Express
Memphis
TN
 
Office
 
               65,572
 
6.15%
 
Sep-2014
 
New
 
5
TOTAL/WEIGHTED AVERAGE PROPERTY FINANCINGS
       
 $          173,240
 
6.15%
         
                             
 
NEW LEASES
                         
   
Tenants/Guarantors
 
Location
     
Property Type
   
Lease Expiration Date
 
Sq. Ft. 
 
Cash Rent Per Annum ($000) 
     
1
Money Management International
Phoenix
AZ
 
Office
 
03/2016
 
          28,710
 
 $                603
     
2
Bayside Medical Group, Inc.
Walnut Creek
CA
 
Office
 
MTM
 
            2,188
 
                     59
     
3
First Bank
Walnut Creek
CA
 
Office
 
MTM
 
            4,488
 
                   113
     
4
First Bank
Walnut Creek
CA
 
Office
 
MTM
 
            5,032
 
                   115
     
5
The Elder & Disability Law Firm
Decatur
GA
 
Office
 
07/2012
 
            1,590
 
                     22
     
6
CRS Insurance Group LLC
Decatur
GA
 
Office
 
12/2010
 
            4,556
 
                     62
     
7
Great American Insurance Company
Hebron
KY
 
Office
 
06/2018
 
            3,145
 
                     16
     
8
ABS Americas
Beaumont
TX
 
Office
 
10/2007
 
            1,794
 
                     24
     
9
Profiles Financial Group, Inc.
Beaumont
TX
 
Office
 
10/2007
 
            1,975
 
                     28
     
10
Praxair Healthcare Services, Inc.
Beaumont
TX
 
Office
 
07/2017
 
          30,526
 
                   256
     
11
Howe-Baker Engineers, Ltd. (Chicago Bridge and Iron)
Beaumont
TX
 
Office
 
10/2007
 
          52,380
 
                   629
     
12
Tacilent Corporation
Dallas
TX
 
Office
 
03/2008
 
1,220
 
                     15
     
13
Visions Investment Group, LLC
Evanston
WY
 
Office
 
08/2010
 
            1,456
 
                     13
     
14
Atlas Cold Storage America LLC
McDonough
GA
 
Industrial
 
10/2017
 
          86,302
 
                   545
     
15
Arnold Logistics, LLC
New Kingston
PA
 
Industrial
 
10/2007
 
          59,000
 
                   290
     
16
Moran Foods (Save A Lot)
Port Orchard
WA
 
Retail
 
09/2014
 
          16,037
 
                     81
     
16
TOTAL NEW LEASES
             
        300,399
 
 $             2,871
     
 
Page 29 of 41

 
LEXINGTON REALTY TRUST
2007 Third Quarter Financings and Leasing Activity
 
 
LEASE EXTENSIONS
                   
   
Tenants/Guarantors
 
Location
     
Property Type
 
Lease Expiration Date 
 
Sq. Ft. 
 
Cash Rent Per Annum ($000) 
1
Time Customer Service, Inc. (Time, Inc.)
Tampa
FL
 
Office
 
06/2020
 
132,981
 
 $             1,223
2
Bank of America
Elizabeth
NJ
 
Office
 
08/2013
 
          30,000
 
                   368
3
Bank of America
Plainsboro
NJ
 
Office
 
08/2013
 
            4,060
 
                   156
4
Time Customer Service, Inc. (Time, Inc.)
Tampa
FL
 
Industrial
 
06/2020
 
229,605
 
                1,084
5
Marsh Supermarkets
Carmel
IN
 
Retail
 
10/2013
 
38,567
 
                   159
6
Marsh Supermarkets
Lawrence
IN
 
Retail
 
10/2013
 
28,721
 
                   193
7
Food Lion, Inc.
Charlotte
NC
 
Retail
 
10/2013
 
          33,640
 
                     98
8
Food Lion, Inc.
Concord
NC
 
Retail
 
10/2019
 
          32,259
 
                   197
9
Bally Total Fitness of the Midwest, Inc. (Bally Total Fitness Holding Corporation)
Canton
OH
 
Retail
 
12/2009
 
          37,214
 
                   447
10
Marsh Supermarkets
Franklin
OH
 
Retail
 
10/2013
 
29,119
 
                   111
11
Citizens Bank of Pennsylvania
Doylestown
PA
 
Retail
 
08/2018
 
            3,800
 
                     71
12
Citizens Bank of Pennsylvania
Lansdale
PA
 
Retail
 
08/2018
 
            3,800
 
                     75
13
Citizens Bank of Pennsylvania
Lima
PA
 
Retail
 
08/2018
 
            3,800
 
                     82
14
Citizens Bank of Pennsylvania
Philadelphia
PA
 
Retail
 
08/2018
 
            3,800
 
                     96
15
Citizens Bank of Pennsylvania
Philadelphia
PA
 
Retail
 
08/2018
 
            3,800
 
                     67
16
Citizens Bank of Pennsylvania
Philadelphia
PA
 
Retail
 
08/2018
 
            3,800
 
                     71
17
Citizens Bank of Pennsylvania
Philadelphia
PA
 
Retail
 
08/2018
 
            3,800
 
                     90
18
Citizens Bank of Pennsylvania
Philadelphia
PA
 
Retail
 
08/2018
 
            3,800
 
                     79
19
Citizens Bank of Pennsylvania
Philadelphia
PA
 
Retail
 
08/2018
 
            3,800
 
                     21
20
Citizens Bank of Pennsylvania
Philadelphia
PA
 
Retail
 
08/2018
 
            3,800
 
                   101
21
Citizens Bank of Pennsylvania
Philadelphia
PA
 
Retail
 
08/2018
 
            3,800
 
                     72
22
Citizens Bank of Pennsylvania
Richboro
PA
 
Retail
 
08/2018
 
            3,800
 
                     66
23
Citizens Bank of Pennsylvania
Wayne
PA
 
Retail
 
08/2018
 
            3,800
 
                     97
23
TOTAL LEASE EXTENSIONS
             
        645,566
 
 $             5,024
                       
39
TOTAL NEW AND RENEWED LEASES
           
        945,965
 
 $             7,895
 
Page 30 of 41

 
   
LEXINGTON REALTY TRUST
   
   
Selected Balance Sheet Account Detail
   
   
 September 30, 2007
   
           
Investments in and advances to non-consolidated entities
 $
173,742
           
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
 $
140,909
 
Investment in net lease partnerships
 
32,833
           
Investments in marketable equity securities
 $
4,276
           
Lexington invests in marketable equity securities where it recognizes an opportunity to generate current income in the form of dividends, the realization of value from long term appreciation, or where there is a strategic opportunity. 
 
           
Other assets
 $
88,966
           
   
The primary components of other assets are:
   
           
     
Restricted cash
 $
14,214
     
Deferred tax assets
 
2,433
     
Due from lender
 
21,106
     
CIP/Deposits
 
17,178
     
Debt investments
 
16,038
     
Equipment
 
2,756
     
Prepaids
 
6,102
     
Other receivables
 
5,324
           
Accounts payable and other liabilities
 $
41,037
           
   
The primary components of accounts payable and other liabilities are:
   
           
     
Accounts payable and accrued expenses
 $
13,523
     
CIP accruals
 
14,757
     
Taxes
 
2,012
     
Deferred lease costs
 
3,366
     
Subordinated notes
 
2,986
     
Deposits
 
1,159
     
Escrows
 
1,106
     
Financing costs
 
2,128
 
Page 31 of 41

 
LEXINGTON REALTY TRUST
   
Select Income Statement Account Detail
   
Nine Months Ended September 30, 2007
   
$000
   
       
Equity in earnings of non-consolidated entities
 $
45,951
       
The components of equity in earnings of non-consolidated entities are as follows:
   
 
Gains on sale of joint venture properties
 $
34,164
 
Equity in earnings
 
11,787
       
       
Advisory and incentive fees
 $
12,182
       
The components of advisory fees are as follows:
   
 
Asset management fees
 $
1,588
 
Incentive fees earned
 
10,594
       
 
 
Page 32 of 41

 
LEXINGTON REALTY TRUST     
Consolidated Properties: Mortgages and Notes Payable    
9/30/2007      
 
Property
Footnotes
Debt Balance
($000)
Interest
Rate (%)
Maturity (a)
Current Est.
Annual Debt
Service ($000)(d)
Balloon
Payment
($000)
Bristol, PA
 
              9,295
7.400%
02/2008
             277
            9,262
Garwood, NJ
 
                   95
5.000%
05/2008
             100
                  -
Decatur, GA
 
              6,147
6.720%
06/2008
             385
            6,049
Palm Beach Gardens, FL
 
            10,593
7.010%
06/2008
             728
          10,418
Canton, OH
 
              3,017
7.150%
08/2008
             261
            2,936
Spartanburg, SC
 
              2,505
7.150%
08/2008
             217
            2,438
Irvine, CA
 
              5,377
9.339%
09/2008
          5,653
                  -
Owensboro, KY
 
              4,666
7.940%
12/2008
          3,361
                  -
Columbia, MD
 
                 994
8.625%
12/2008
             297
               719
Clinton, CT
 
                 721
7.940%
12/2008
             519
                  -
Long Beach, CA
 
            15,923
6.250%
01/2009
        11,286
                  -
Long Beach, CA
 
              5,903
6.160%
01/2009
          4,180
                  -
Florence, SC
 
              8,730
7.500%
02/2009
             869
            8,443
Canton, OH
 
                 512
9.490%
02/2009
             388
                  -
Baton Rouge, LA
 
              1,604
7.375%
03/2009
             208
            1,478
Livonia, MI
 
            10,494
7.800%
04/2009
             992
          10,236
Bristol, PA
 
              5,485
7.250%
04/2009
             571
            5,228
Henderson, NC
 
              4,035
7.390%
05/2009
             417
            3,854
Westland, MI
 
              1,227
10.500%
09/2009
             683
                  -
Houston, TX
(b)
            19,851
5.810%
10/2009
          2,032
          18,229
High Point, NC
 
              8,204
5.750%
10/2009
             695
            7,741
Salt Lake City, UT
 
              5,335
7.610%
10/2009
          2,901
                  -
San Francisco, CA
 
            22,673
3.893%
12/2009
          2,020
          20,000
Pleasanton, CA
 
              4,481
10.250%
12/2009
             727
            3,808
Richmond, VA
 
            15,799
8.100%
02/2010
          1,511
          15,257
Fishers, IN
(b)
            14,425
5.880%
04/2010
          1,499
          12,960
Hampton, VA
 
              7,007
8.270%
04/2010
             677
            6,758
Hampton, VA
 
              4,297
8.260%
04/2010
             415
            4,144
Lorain, OH
(b)
              2,017
5.540%
07/2010
             905
                  -
Manteca, CA
(b)
              1,425
5.540%
07/2010
             639
                  -
Watertown, NY
(b)
              1,340
5.540%
07/2010
             601
                  -
Lewisburg, WV
(b)
                 941
5.540%
07/2010
             422
                  -
San Diego, CA
(b)
                 908
5.540%
07/2010
             408
                  -
Galesburg, IL
(b)
                 799
5.540%
07/2010
             359
                  -
Tampa, FL
 
              7,970
6.930%
08/2010
             674
            7,603
Tampa, FL
 
              5,762
6.880%
08/2010
             485
            5,495
Irving, TX
(b)
            26,571
5.880%
10/2010
          2,432
          24,454
Lake Mary, FL
(b)
            13,159
5.880%
10/2010
          1,181
          12,118
Lake Mary, FL
(b)
            13,120
5.880%
10/2010
          1,178
          12,082
Herndon, VA
 
            18,098
8.180%
12/2010
          1,723
          17,301
Tucson, AZ
 
              2,267
7.500%
01/2011
             226
            2,076
Parsippany, NJ
(b)
            40,374
5.860%
03/2011
          3,472
          37,047
Glendale, AZ
 
            14,132
7.400%
04/2011
          1,258
          13,365
Renswoude, NA
 
            38,178
5.305%
04/2011
          2,884
          35,498
Dallas, TX
 
            30,582
5.126%
05/2011
          1,594
          30,582
Wallingford, CT
 
              3,383
4.926%
05/2011
             221
            3,187
 
Page 33 of 41

 
 
LEXINGTON REALTY TRUST     
Consolidated Properties: Mortgages and Notes Payable    
9/30/2007      
 
Property
Footnotes
Debt Balance
($000)
Interest
Rate (%)
Maturity (a)
Current Est.
Annual Debt
Service ($000)(d)
Balloon
Payment
($000)
Auburn Hills, MI
 
              6,633
7.010%
06/2011
             637
            5,918
Plymouth, MI
 
              4,453
7.960%
07/2011
             421
            4,171
Winchester, VA
(b)
            10,663
5.860%
08/2011
             908
            9,675
Newport, OR
 
              6,543
5.030%
08/2011
             470
            5,980
Greenville, SC
(h)
            12,991
4.415%
01/2012
             841
          11,806
New Kingston, PA
 
              6,816
7.790%
01/2012
             678
            6,101
Mechanicsburg, PA
 
              5,031
7.780%
01/2012
             500
            4,503
New Kingston, PA
 
              3,247
7.780%
01/2012
             323
            2,906
Milford, OH
(b)
            16,345
5.860%
02/2012
          1,822
          12,686
Lake Forest, CA
 
            10,385
7.260%
02/2012
             901
            9,708
Des Moines, IA
(b)
            22,526
5.510%
05/2012
          1,235
          22,153
Fort Worth, TX
(b)
            19,039
5.510%
05/2012
          1,280
          17,823
Memphis, TN
 
            17,488
5.247%
05/2012
          1,181
          16,222
Raleigh, NC
(b)
            12,573
5.860%
05/2012
             649
          12,543
Lakewood, CO
 
              8,524
5.097%
05/2012
             566
            7,890
Farmington Hills, MI
(b)
            19,703
5.860%
09/2012
          1,500
          17,724
Laurens, SC
(b)
            16,378
5.870%
09/2012
          1,396
          14,022
Temperance, MI
(b)
            10,979
5.870%
09/2012
             936
            9,400
Groveport, OH
(h)
              7,475
6.030%
10/2012
             563
            6,860
Baton Rouge, LA
(b)
              6,485
5.520%
10/2012
             443
            5,943
San Antonio, TX
 
            28,789
6.080%
10/2012
          2,260
          26,025
Plymouth, MI
(b)
            11,926
5.860%
12/2012
          1,026
          10,026
Colorado Springs, CO
(b)
            11,430
5.870%
12/2012
             887
          10,272
Foxboro, MA
(b)
            14,091
6.000%
01/2013
          2,817
                  -
Fort Mill, SC
 
            10,946
6.000%
01/2013
             839
            9,904
Centennial, CO
(b)
            15,396
5.550%
02/2013
          1,177
          13,555
Waterloo, IA
(h)
              5,671
5.610%
02/2013
             672
            3,505
Los Angeles, CA
(b)
            78,289
5.860%
05/2013
          5,361
          73,071
Atlanta, GA
 
            44,382
5.268%
05/2013
          3,004
          40,356
Dallas, TX
(b)
            39,703
5.550%
05/2013
          2,702
          36,453
Houston, TX
 
            17,322
5.218%
05/2013
          1,166
          15,737
Southington, CT
 
            13,506
5.018%
05/2013
             890
          12,228
Tempe, AZ
 
            13,383
5.148%
05/2013
             894
          12,144
Indianapolis, IN
 
              9,452
5.168%
05/2013
             633
            8,580
Fort Meyers, FL
 
              8,912
5.268%
05/2013
             477
            8,550
Chelmsford, MA
 
              6,871
5.118%
05/2013
             458
            6,231
Knoxville, TN
 
              5,036
5.950%
09/2013
             381
            4,496
Phoenix, AZ
 
            18,893
6.270%
09/2013
          1,527
          16,490
Foxboro, MA
(b)
            18,351
6.000%
01/2014
          3,270
                  -
Moody, AL
 
              7,273
4.978%
01/2014
             493
            6,350
Arlington, TX
(b)
            20,938
5.870%
02/2014
          1,551
          18,588
Las Vegas, NV
 
            22,245
6.150%
02/2014
          4,160
               429
Mechanicsburg, PA
(h)
            12,902
5.730%
03/2014
          1,045
          10,538
Redmond, OR
 
              9,643
5.616%
04/2014
             697
            8,484
Logan Township, NJ
(b)
              7,336
5.870%
04/2014
             482
            6,784
Clive, IA
 
              5,805
5.139%
05/2014
             387
            5,181
 
Page 34 of 41


LEXINGTON REALTY TRUST     
Consolidated Properties: Mortgages and Notes Payable    
9/30/2007      
 
Property
Footnotes
Debt Balance
($000)
Interest
Rate (%)
Maturity (a)
Current Est.
Annual Debt
Service ($000)(d)
Balloon
Payment
($000)
Fort Mill, SC
 
            20,300
5.373%
05/2014
          1,341
          18,311
Philadelphia, PA
 
            48,897
5.060%
07/2014
          3,178
          43,547
Eau Claire, WI
 
              1,629
8.000%
07/2014
             313
                  -
Memphis, TN
 
            65,572
6.150%
09/2014
          4,089
          65,572
Memphis, TN
 
            11,388
6.150%
09/2014
          1,344
            5,840
Columbus, IN
 
            42,800
6.150%
09/2014
          2,669
          40,429
Las Vegas, NV
 
            31,235
6.150%
09/2014
          1,948
          31,235
Issaquah, WA
(b)
            31,552
5.890%
12/2014
          1,663
          30,388
Canonsburg, PA
(b)
              9,069
5.550%
12/2014
             489
            9,095
Chicago, IL
(b)
            28,948
5.870%
01/2015
          1,552
          29,900
Carrollton, TX
 
            13,976
5.530%
01/2015
             993
          12,022
Franklin, NC
 
              1,497
8.500%
03/2015
             271
                  -
Herndon, VA
(b)
            11,972
5.870%
04/2015
             888
          10,359
Richmond, VA
(b)
            19,476
5.510%
05/2015
          1,029
          18,321
Kalamazoo, MI
 
            17,301
5.411%
05/2015
          1,189
          15,087
Houston, TX
 
            16,648
5.160%
05/2015
          1,114
          14,408
Rockaway, NJ
 
            14,900
5.292%
05/2015
             802
          14,900
Houston, TX
 
            13,001
5.210%
05/2015
             874
          11,265
Fishers, IN
 
            12,927
5.160%
05/2015
             865
          11,188
San Antonio, TX
 
            12,827
5.340%
05/2015
             875
          11,149
Atlanta, GA
 
            11,325
5.260%
05/2015
             606
          10,502
Los Angeles, CA
 
            11,275
5.110%
05/2015
             750
            9,760
Richmond, VA
 
            10,409
5.310%
05/2015
             708
            9,055
Harrisburg, PA
 
              9,000
5.110%
05/2015
             599
            7,780
Knoxville, TN
 
              7,654
5.310%
05/2015
             520
            6,658
Tulsa, OK
 
              7,536
5.060%
05/2015
             499
            6,517
McDonough, GA
(b)
            12,298
5.870%
06/2015
             672
          11,349
Mission, TX
(b)
              6,335
5.500%
06/2015
             462
            5,371
Carrollton, TX
(b)
            20,231
5.870%
07/2015
          1,115
          18,677
Elizabethtown, KY
 
            15,981
4.990%
07/2015
          1,068
          13,648
Hopkinsville, KY
 
              9,367
4.990%
07/2015
             626
            7,999
Dry Ridge, KY
 
              7,304
4.990%
07/2015
             506
            6,238
Owensboro, KY
 
              6,520
4.990%
07/2015
             452
            5,568
Elizabethtown, KY
 
              3,014
4.990%
07/2015
             201
            2,574
Southborough, MA
 
              1,649
7.500%
09/2015
             275
                  -
Houston, TX
(b)
            60,193
6.250%
09/2015
          7,118
          18,318
Houston, TX
(b)
            24,498
6.250%
09/2015
          2,923
            6,985
Sugar Land, TX
(b)
            15,670
6.250%
09/2015
          1,944
            6,286
Houston, TX
(b)
              6,948
6.250%
09/2015
             806
            2,222
Temple, TX
 
              8,790
6.090%
01/2016
             668
            7,446
Danville, IL
 
              6,195
9.000%
01/2016
             692
            4,578
Bridgewater, NJ
 
            14,805
5.732%
03/2016
             863
          13,824
Omaha, NE
 
              8,831
5.610%
04/2016
             621
            7,560
Tempe, AZ
 
              8,340
5.610%
04/2016
             586
            7,140
Bremerton, WA
 
              6,497
6.090%
04/2016
             494
            5,465
Lisle, IL
 
            10,450
6.500%
06/2016
             715
            9,325
 
Page 35 of 41


LEXINGTON REALTY TRUST     
Consolidated Properties: Mortgages and Notes Payable    
9/30/2007      
 
Property
Footnotes
Debt Balance
($000)
Interest
Rate (%)
Maturity (a)
Current Est.
Annual Debt
Service ($000)(d)
Balloon
Payment
($000)
Dallas, TX
(b)
            18,567
5.870%
07/2016
          1,139
          18,363
Rochester, NY
 
            18,800
6.210%
08/2016
          1,202
          16,765
Statesville, NC
 
            14,100
6.210%
08/2016
             901
          12,574
Rockford, IL
 
              6,900
6.210%
08/2016
             441
            6,153
Glenwillow, OH
 
            17,000
6.130%
09/2016
          1,069
          15,132
Plymouth, IN
 
              6,597
6.315%
09/2016
             497
            5,723
Tomball, TX
 
              9,327
6.063%
11/2016
             683
            8,023
El Segundo, CA
 
            54,466
5.675%
12/2016
          3,820
          45,723
Memphis, TN
 
              3,951
5.710%
01/2017
             229
            3,484
Orlando, FL
 
              9,975
5.722%
02/2017
             580
            9,309
Wilmington, NC
(b)
            12,512
5.850%
03/2017
             684
          11,580
Shreveport, LA
 
            19,000
5.690%
04/2017
          1,099
          19,000
Coppell, TX
 
            14,400
5.710%
06/2017
             836
          14,400
Dubuque, IA
 
            10,635
5.402%
06/2017
             733
            8,725
McDonough, GA
 
            23,000
6.110%
11/2017
          1,429
          21,651
Westmont, IL
 
            14,959
6.210%
03/2018
          1,292
            9,662
Lorain, OH
(b)
              1,280
7.750%
07/2018
             108
                  -
Manteca, CA
(b)
                 904
7.750%
07/2018
               77
                  -
Watertown, NY
(b)
                 850
7.750%
07/2018
               72
                  -
Lewisburg, WV
(b)
                 597
7.750%
07/2018
               51
                  -
San Diego, CA
(b)
                 576
7.750%
07/2018
               49
                  -
Galesburg, IL
(b)
                 507
7.750%
07/2018
               43
                  -
Erwin, NY
(b)
              9,501
5.550%
10/2018
             728
            6,624
Overland Park, KS
(b)
            37,461
5.900%
05/2019
          2,230
          31,819
Kansas City, MO
(b)
            17,874
5.900%
05/2019
          1,064
          15,182
Meridian, ID
(b)
            10,121
5.900%
08/2019
             753
            7,658
Streetsboro, OH
(b)
            19,449
5.900%
09/2019
          1,108
          16,338
Houston, TX
 
              7,500
6.507%
11/2019
             496
            6,692
Lenexa, KS
(b)
            10,357
5.900%
12/2019
             774
            7,755
Boca Raton, FL
 
            20,400
6.470%
02/2020
          1,342
          18,383
Oakland, ME
(b)
            10,268
5.900%
10/2020
             750
            7,660
Houston, TX
 
              9,777
5.640%
12/2020
             692
            7,018
Livonia, GA
 
              9,749
5.460%
12/2020
             741
            5,895
Wall Township, NJ
(b)
            29,430
6.250%
01/2021
          2,372
                  -
Hilliard,OH
 
            28,960
5.907%
02/2021
          1,739
          27,483
Charleston, SC
 
              7,350
5.850%
02/2021
             437
            6,632
Durham, NH
(b)
            19,273
6.750%
03/2021
          1,312
                  -
Antioch, TN
(b)
            14,940
5.630%
10/2021
          1,580
               774
Whippany, NJ
 
            16,704
6.298%
11/2021
          1,344
          10,400
Dillon, SC
 
            23,056
5.974%
02/2022
          1,832
          13,269
El Segundo, CA
 
            16,965
4.860%
01/2024
               66
          13,955
El Segundo, CA
 
            13,880
4.860%
01/2024
               54
          11,417
Chester, SC
 
            13,127
5.380%
08/2025
          1,144
               362
Subtotal/Wtg. Avg. (g)/Years Remaining
       2,445,264
5.902%
7.0
      214,604
     1,964,221
 
Page 36 of 41


LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
9/30/2007
 
Property
Footnotes
Debt Balance
($000)
Interest
Rate (%)
Maturity (a)
Current Est.
Annual Debt
Service ($000)(d)
Balloon
Payment
($000)
Corporate
           
Credit Facility
 (c)
                   -
         -
06/2008
               -
                  -
Term Loan
(f)
          225,000
6.270%
06/2009
        14,108
        225,000
Exchangeable Notes
(e)
          450,000
5.450%
01/2027
        24,525
        450,000
Trust Preferred Notes
 
          200,000
6.804%
04/2037
        13,608
        200,000
Subtotal/Wtg. Avg. (g)/Years Remaining
          875,000
5.970%
17.1
        52,241
        875,000
Total/Wtg. Avg. (g)/Years Remaining
 $    3,320,264
5.920%
9.7
 $   266,845
 $  2,839,221

(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.
(f)     Floating rate debt 30 day LIBOR plus 60 bps.
       
(g)    Weighted average interest rate based on proportionate share.
     
(h)   Property held for sale.
           
 
Page 37 of 41

 
LEXINGTON REALTY TRUST
Unconsolidated Properties: Mortgages and Notes Payable
9/30/2007
                 
Joint Venture
Footnotes
 Debt Balance ($000)
 LXP Proportionate Share ($000)
Interest Rate (%)
Maturity
 Current Estimated Annual Debt Service ($000)
 Balloon Payment ($000)
 Proportionate Share Balloon Payment ($000)
One Arkansas
 
 $              868
 $                  304
6.850%
05/2008
 $              913
 $                      -
 $                      -
Dallas Commerce
 
            17,722
                  4,608
6.680%
06/2009
              9,614
                       -
 $                      -
BCBS LLC
 
            23,286
                  9,314
7.850%
10/2009
              2,196
                22,586
 $               9,034
Harpard
 
              1,610
                     435
9.875%
01/2011
                 569
                       -
 $                      -
Taber
 
                 972
                     262
10.125%
06/2011
                 313
                       -
 $                      -
Jayal
 
              1,447
                     434
11.500%
03/2012
                 409
                       -
 $                      -
Oklahoma TIC
 
            14,749
                  5,900
5.240%
05/2015
                 786
                13,673
 $               5,469
One Summit
 
            20,359
                  6,108
9.375%
10/2016
              3,344
                       -
 $                      -
One Summit
 
            13,083
                  3,925
10.625%
11/2016
              2,239
                       -
 $                      -
Dallas Commerce
 
            12,512
                  3,253
15.000%
12/2018
              1,877
                       -
 $                      -
Subtotal/Wtg. Avg. (5)/Years Remaining (6)
 $       106,608
 $             34,543
8.586%
5.9
 $         22,260
 $             36,259
 $             14,503
                 
Corporate
               
Warehouse facility
(4)
            41,870
                20,935
6.136%
11/2007
              2,569
                41,870
                20,935
Warehouse facility
(1)
            56,156
                28,078
5.948%
11/2008
              3,340
                56,156
                28,078
Warehouse facility
(2)
          320,835
              160,418
6.656%
03/2009
            21,355
              320,835
              160,418
CDO
(3)
          376,650
              188,325
5.825%
12/2046
            21,940
              376,650
              188,325
Subtotal/Wtg. Avg. (5)/Years Remaining (6)
 $       795,511
 $           397,756
6.185%
19.2
 $         49,204
 $           795,511
 $           397,756
Total/Wtg. Avg. (5)/Years Remaining (6)
 $       902,119
 $           432,299
6.377%
18.1
 $         71,464
 $           831,770
 $           412,259
 
 
(1) Represents amount outstanding on $200.0 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, variable rate.
(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.
     
 
Page 38 of 41

 
LEXINGTON REALTY TRUST
 
 Mortgage Maturity Schedule  
9/30/2007
 
   
Consolidated Properties     
 
Year
 
Scheduled
Amortization
($000)
 
 
Balloon Payments
($000)
 
 
Balloon Weighted
Average Interest
Rate %
 
 
2007 - remaining
$
                 8,758
 $
                    -
 
                     -
 
2008
 
                 73,218
 
              31,822
 
7.13%
 
2009
 
                 61,452
 
            304,017
 
6.25%
 
2010
 
                 51,257
 
            118,172
 
6.84%
 
2011
 
                 48,776
 
            147,499
 
5.79%
 
 
 $
            243,461
 $
 $      601,510
 
6.30%
 
               
               
               
Joint Venture Properties - LXP Proportionate Share
       
 
Year
 
Scheduled
Amortization
($000) 
 
Balloon Payments
($000)
 
Balloon Weighted
Average Interest
Rate % 
 
2007- remaining
 $
                 1,512
  $
            20,935
(1)
6.14%
 
2008
 
                   3,595
 
              28,078
(1)
5.95%
 
2009
 
                   2,568
 
            169,452
(1)
6.72%
 
2010
 
                   1,439
 
                     -
 
                     -
 
2011
 
                   1,441
 
                     -
 
                     -
 
 
 $
              10,555
  $
          218,465
 
6.56%
 
 
 
(1) Includes joint venture warehouse facilities.
         
 
Page 39 of 41

 
LEXINGTON REALTY TRUST
Base Rent Estimates for Current Assets
9/30/07
($000)
 
 
 
 Year
 
 Cash
 
 GAAP
         
Remaining 2007
$
116.8
$
112.8
2008
 
474.4
 
445.4
2009
 
401.8
 
402.1
2010
 
353.5
 
356.4
2011
 
333.1
 
336.0
         
Amounts assume all below market leases are renewed by the tenants at the option rate and no new or renegotiated leases are entered into for any other property.
 
 
 
 
 
 
Page 40 of 41

 
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

           
Bear, Stearns & Co., Inc. 
    
Keefe, Bruyette & Woods
 
Ross Smotrich 
(212) 272-8046 
 
Sheila K. McGrath
(212) 887-7793
Jeffrey Langbaum 
(212) 272-4201 
     
George Hoglund, CFA 
(212) 272-6272 
 
Raymond James & Assoc.
 
       
Paul Puryear
(727) 567-2253
Cantor Fitzgerald 
    
Ken Avalos
(727) 567-2660
Philip Martin 
(312) 469-7485 
     
Matthew Thorp 
(312) 469-7484 
 
Stifel Nicolaus
 
       
John W. Guinee
(410) 454-5520
Friedman, Billings, Ramsey 
    
Michael C. Hudgins
(410) 454-4830
Merrill Ross 
(703) 312-9769 
     
Gabe Poggi 
(703) 469-1141 
 
 
 
       
 
 
J.P. Morgan 
        
Anthony Paolone, CFA 
(212) 622-6682 
     
Michael W. Mueller, CFA 
(212) 622-6689 
     
Joseph Dazio, CFA 
(212) 622-6416 
     
Gregory P. Stuart 
(212) 622-5390 
     
           
           
           
 
 
 Page 41 of 41