EX-99.1 2 v148400_ex99-1.htm Unassociated Document
 
 
Quarterly Earnings and
Supplemental Operating and Financial Data
 
For the Three Months Ended March 31, 2009

 
 
 

 

LEXINGTON REALTY TRUST
SUPPLEMENTAL REPORTING PACKAGE
For the Three Months Ended March 31, 2009
 
Table of Contents
 
 
Section
Page
   
First Quarter 2009 Earnings Press Release
   3
   
Portfolio Data
 
1Q ’09 Leasing Summary
12
1Q ’09 Investment/ Disposition Summary
13
Property Leases and Vacancies – Consolidated Portfolio
14
Property Leases and Vacancies – Net Lease Strategic Assets Fund
22
Lease Rollover Schedule – Cash Basis
24
Lease Rollover Schedule – GAAP Basis
25
1Q ’09 Financing Summary
26
Mortgage Maturity Schedule
27
2009 Mortgage Maturities by Property Type
28
2010 Mortgage Maturities by Property Type
29
2011 Mortgage Maturities by Property Type
30
Mortgages and Notes Payable
31
Noncontrolling Investments – Partners’ Proportionate Share
38
Non-Consolidated Investments - Proportionate Share
39
Selected Balance Sheet Account Detail
40
Base Rent Estimates from Current Assets
41
Major Markets
42
Tenant Industry Diversification
43
Other Revenue Data
44
Top 10 Tenants or Guarantors
45
   
Investor Information
 
46

This Quarterly Earnings and Supplemental Operating and Financial Data contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the control of Lexington Realty Trust (“Lexington”) which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in Lexington’s periodic reports filed with the Securities and Exchange Commission (the “SEC”) filed with the SEC, including risks related to, (i) the failure to continue to qualify as a real estate investment trust, (ii) changes in general business and economic conditions, (iii) competition, (iv) increases in real estate construction costs, (v) changes in interest rates, or (vi) changes in accessibility of debt and equity capital markets. Copies of periodic reports Lexington files with the SEC are available on Lexington’s website at www.lxp.com and may be obtained free of charge by calling Lexington at 212-692-7200. Forward-looking statements, which are based on certain assumptions and describe Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "estimates," "projects" or similar expressions. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington's expectations will be realized.

 
 

 
 
 
Lexington Realty Trust
  TRADED: NYSE: LXP
 
One Penn Plaza, Suite 4015
 
New York NY 10119-4015
 
Contact:
Investor or Media Inquiries, T. Wilson Eglin, CEO
Lexington Realty Trust
Phone: (212) 692-7200 E-mail: tweglin@lxp.com

FOR IMMEDIATE RELEASE
Thursday May 7, 2009

LEXINGTON REALTY TRUST REPORTS FIRST QUARTER 2009 RESULTS

New York, NY – May 7, 2009 – Lexington Realty Trust (“Lexington”) (NYSE:LXP), a real estate investment trust focused on single-tenant real estate investments, today announced results for the first quarter ended March 31, 2009.

First Quarter 2009 Highlights
·
Obtained a new $250.0 million secured revolving credit facility and secured term loan, extending the maturity of refinanced debt from 2009 to 2011.
·
Reduced overall debt by $52.6 million, including $22.5 million of 5.45% Exchangeable Notes repurchased at a 34.1% discount.
·
Executed 16 new and renewal leases, totaling approximately 547,000 square feet.
·
Recorded real estate and debt investment impairment charges of $59.8 million and an $8.6 million non-cash charge related to a forward equity commitment to repurchase 3.5 million common shares.
·
Generated Company Funds From Operations (“Company FFO”) of $42.5 million or $0.38 per diluted common share/unit, excluding one-time items.(A)
·
2009 guidance modified to reflect quarterly dividend payment in common shares.
(A)
See the last page of this press release for a reconciliation of GAAP net income (loss) to Company FFO.

T. Wilson Eglin, President and Chief Executive Officer of Lexington, stated, “During the first quarter, Lexington made great progress with respect to strengthening its balance sheet. We successfully refinanced the vast majority of our 2009 debt maturities and reduced our overall debt by $52.6 million. In a challenging operating environment, we are pleased to have ended the quarter with 92% occupancy and believe that our real estate portfolio continues to produce strong cash flows supported by a diverse asset base and the stability of net leases. We are also pleased to announce that our credit facility has been increased by $40.0 million to a total of $290.0 million.”

FINANCIAL RESULTS
Revenues

For the quarter ended March 31, 2009, total gross revenues were $100.8 million, compared with total gross revenues of $105.5 million for the quarter ended March 31, 2008. The decrease is primarily due to the sale of certain assets to a co-investment program in 2008.

Net Loss Attributable to Common Shareholders

For the quarter ended March 31, 2009, net loss attributable to common shareholders was ($71.6) million, or a loss of ($0.72) per diluted share, compared with net loss attributable to common shareholders for the quarter ended March 31, 2008 of ($1.4) million, or a loss of ($0.02) per diluted share.

 
Page 3 of 46

 

Company FFO Attributable to Common Shareholders/Unitholders

The following presents in tabular form the one-time items impacting Company FFO for the periods presented:

   
March 31, 2009
         
March 31, 2008
       
   
Millions
   
Per Share/Unit
   
Millions(1)
   
Per Share/Unit
 
Reported Company FFO(A)
  $ (18.7 )   $ (0.17 )   $ 40.0     $ 0.38  
Severance charges
                  2.0          
Accounting pronouncements  - Exchangeable Notes
    0.5               1.0          
Formation costs – joint venture
                  0.9          
Debt satisfaction gains, net
    (6.4 )             (6.4 )        
Debt satisfaction gains, net – Concord
                  (2.6 )        
Forward equity commitment charge
    8.6                        
Impairment losses – real estate
    9.5               2.7          
Impairment losses –  consolidated debt investments
    1.1                        
Impairment losses – Concord debt investments
    20.1               2.7          
Impairment losses – Concord equity investment
    29.1                        
Land transaction income, net
    (1.3 )                      
    $ 42.5     $ 0.38     $ 40.3     $ 0.38  
(A)See the last page of this press release for a reconciliation of GAAP net income (loss) to Company FFO.

During the first quarter, Lexington (1) acquired the remainder interests in 27.6 acres in Long Beach, California for an estimated fair value of $2.5 million in connection with a tenant’s surrender obligations and recorded it as non-operating income, (2) sold one property for $11.4 million, (3) incurred an $8.6 million non-cash charge relating to its forward equity commitment to repurchase 3.5 million common shares, (4) recorded real estate impairment charges of $9.5 million relating to three properties and (5) recorded impairment charges of $50.3 million relating to its debt investments, including its share of joint ventures, and its equity investment in Concord as detailed in the chart above.

Financing Activities

On February 13, 2009, Lexington refinanced its unsecured revolving credit facility, with $25.0 million outstanding as of December 31, 2008, and its secured term loan, with $174.3 million outstanding as of December 31, 2008, each of which was scheduled to mature in 2009, with a $250.0 million secured credit facility consisting of a $165.0 million term loan and a $85.0 million revolving loan with KeyBank N.A. The new facility bears interest at 2.85% over LIBOR and matures in February 2011, but can be extended to February 2012 at Lexington's option. The new credit facility is secured by ownership interest pledges and guarantees by certain of Lexington’s subsidiaries that in the aggregate own interests in a borrowing base consisting of 72 properties. With the consent of the lenders, Lexington can increase the size of (1) the term loan by $135.0 million and (2) the revolving loan by $115.0 million (for a total facility size of $500.0 million) by adding properties to the borrowing base. Subsequent to quarter end, Lexington increased the aggregate size of the secured credit facility to $290.0 million, of which $200.0 million is currently outstanding

Balance Sheet

During the first quarter, Lexington reduced its overall debt by $52.6 million, including $22.5 million original principal amount of 5.45% Exchangeable Notes repurchased at a 34.1% discount. Subsequent to quarter-end, Lexington repurchased an additional $14.0 million original principal amount of these notes at a 25.5% discount, leaving $174.5 million original principal amount of outstanding.

 
Page 4 of 46

 

At March 31, 2009, Lexington had approximately $4.0 billion of total assets, including $73.8 million of cash and restricted cash, and $2.3 billion of debt outstanding. As of March 31, 2009, the debt had a weighted average interest rate of 5.7%, with a weighted average maturity of 6.0 years and 91.4% was subject to fixed interest rates.

Common Share Dividend/Distribution

During the quarter ended March 31, 2009, Lexington’s Board of Trustees declared a regular quarterly dividend/distribution of $0.18 per share/unit, which was paid in a combination of cash and common shares on April 24, 2009, to common shareholders/unitholders of record as of March 26, 2009.  Lexington issued approximately 5.1 million common shares on April 24, 2009 and retained approximately $16.3 million of liquidity by paying 90% of the common share dividend in common shares.
 
OPERATING ACTIVITIES

Sales

During the quarter ended March 31, 2009, Lexington sold its interest in one property to an unrelated party for an aggregate sales price of $11.4 million, which generated a gain on sale of $3.1 million.

Leasing Activity

At March 31, 2009, Lexington’s consolidated portfolio was approximately 92.2% leased.  For the quarter ended March 31, 2009, Lexington executed 16 new and renewal leases for approximately 547,000 square feet. Subsequent to quarter-end, Lexington executed 11 leases for an additional 457,000 square feet.

2009 EARNINGS GUIDANCE

Lexington reduced its estimated Company FFO guidance range from $1.35 to $1.42 per diluted share/unit for the year ending December 31, 2009 to a range of $1.30 to $1.37 per diluted share/unit to reflect the issuance of approximately 5.1 million common shares issued to shareholders of record in April 2009 in connection with the quarterly dividend. This guidance excludes the impact of non-recurring items and the new accounting pronouncement for convertible securities that was effective in January 2009.  In addition, this guidance is based on current expectations and is forward-looking.

FIRST QUARTER 2009 CONFERENCE CALL

Lexington will host a conference call today, Thursday, May 7, 2009, at 11:00 a.m. Eastern Time, to discuss its results for the quarter ended March 31, 2009. Interested parties may participate in this conference call by dialing (877) 407-0778 or (201) 689-8565. A replay of the call will be available through June 7, 2009, at (877) 660-6853, Account #: 286, Conference ID #: 318751.

A live web cast of the conference call will be available at www.lxp.com within the Investor Relations section. An online replay will also be available through May 7, 2010.

 
Page 5 of 46

 

ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust is a real estate investment trust that owns, invests in, and manages office, industrial and retail properties net-leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the net lease area.   Lexington shares are traded on the New York Stock Exchange under the symbol “LXP”.  Additional information about Lexington is available on-line at www.lxp.com or by contacting Lexington Realty Trust, One Penn Plaza, Suite 4015, New York, New York 10119-4015, Attention: Investor Relations.

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington’s control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington’s periodic reports filed with the Securities and Exchange Commission, including risks related to: (1) the failure to continue to qualify as a real estate investment trust, (2) changes in general business and economic conditions, including the impact of the current global financial and credit crisis, (3) competition, (4) increases in real estate construction costs, (5) changes in interest rates, or (6) changes in accessibility of debt and equity capital markets. Copies of the periodic reports Lexington files with the Securities and Exchange Commission are available on Lexington’s website at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects”, “is optimistic” or similar expressions. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.

 
Page 6 of 46

 

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three months ended March 31, 2009 and 2008
(Unaudited and in thousands, except share and per share data)

   
2009
   
2008 (1)
 
Gross revenues:
           
Rental
  $ 89,520     $ 95,144  
Advisory and incentive fees
    463       311  
Tenant reimbursements
    10,798       10,025  
Total gross revenues
    100,781       105,480  
                 
Expense applicable to revenues:
               
Depreciation and amortization
    (47,429 )     (54,917 )
Property operating
    (22,120 )     (18,695 )
General and administrative
    (6,665 )     (11,046 )
Non-operating income
    4,118       2,104  
Interest and amortization expense
    (34,942 )     (43,826 )
Debt satisfaction gains, net
    6,411       6,419  
Change in value of forward equity commitment
    (8,633 )      
Impairment charges and loan loss reserves
    (10,597 )      
Gains on sales of properties-affiliates
          23,169  
                 
Income (loss) before provision for income taxes,  equity in earnings  (losses) of
non-consolidated entities, and discontinued operations
    (19,076 )     8,688  
Provision for income taxes
    (675 )     (1,289 )
Equity in earnings (losses) of non-consolidated entities
    (47,124 )     5,548  
Income (loss) from continuing operations
    (66,875 )     12,947  
                 
Discontinued operations:
               
Income from discontinued operations
    8       1,065  
Provision  for income taxes
    (47 )     (68 )
Gains on sales of properties
    3,094       687  
Impairment charge
          (2,694 )
Total discontinued operations
    3,055       (1,010 )
Net income (loss)
    (63,820 )     11,937  
Less net income attributable to noncontrolling interests
    (1,128 )     (6,294 )
Net income (loss) attributable to Lexington
    (64,948 )     5,643  
Dividends attributable to preferred shares – Series B
    (1,590 )     (1,590 )
Dividends attributable to preferred shares – Series C
    (2,111 )     (2,519 )
Dividends attributable to preferred shares – Series D
    (2,926 )     (2,926 )
Net  loss attributable to common shareholders
  $ (71,575 )   $ (1,392 )
                 
Income  (loss) per common share – basic:
               
Income (loss) from continuing operations, after preferred dividends
  $ (0.75 )   $ (0.01 )
Income (loss) from discontinued operations
    0.03       (0.01 )
Net income (loss) attributable to common shareholders
  $ (0.72 )   $ (0.02 )
                 
Weighted average common shares outstanding – basic
    99,954,569       59,826,579  
                 
Income (loss) per common share – diluted:
               
Income (loss) from continuing operations, after preferred dividends
  $ (0.75 )   $ (0.01 )
Income (loss) from discontinued operations
    0.03       (0.01 )
Net  income (loss) attributable to common shareholders
  $ (0.72 )   $ (0.02 )
                 
Weighted average common shares outstanding – diluted
    99,954,569       59,826,579  
Amounts attributable to common shareholders:
               
Income (loss) from continued operations
  $ (74,630 )   $ (472 )
Income (loss) from discontinued operations
    3,055       (920 )
Net income (loss) attributable to common shareholders
  $ (71,575 )   $ (1,392 )

Page 7 of 46

 
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
March 31, 2009 and December 31, 2008
(Unaudited and in thousands, except share and per share data)

   
March 31,
   
December 31,
 
   
2009
   
2008 (1)
 
Assets:
           
Real estate, at cost
  $ 3,757,496     $ 3,756,188  
Less: accumulated depreciation and amortization
    489,405       461,661  
      3,268,091       3,294,527  
Properties held for sale – discontinued operations
    1,785       8,150  
Intangible assets, net
    323,267       343,192  
Cash and cash equivalents
    47,016       67,798  
Restricted cash
    26,768       31,369  
Investment in and advances to non-consolidated entities
    124,739       179,133  
Deferred expenses, net
    41,300       35,741  
Notes receivable, net
    66,237       68,812  
Rent receivable – current
    10,613       19,829  
Rent receivable – deferred
    18,748       16,499  
Other assets
    32,874       40,675  
    $ 3,961,438     $ 4,105,725  
Liabilities and Equity:
               
Liabilities:
               
Mortgages and notes payable
  $ 2,009,257     $ 2,033,854  
Exchangeable notes payable
    182,816       204,074  
Trust preferred securities
    129,120       129,120  
Contract rights payable
    15,132       14,776  
Dividends payable
    8,446       24,681  
Liabilities – discontinued operations
    306       6,142  
Accounts payable and other liabilities
    36,678       33,814  
Accrued interest payable
    9,311       16,345  
Deferred revenue - below market leases, net
    118,405       121,722  
Prepaid rent
    24,855       20,126  
      2,534,326       2,604,654  
Commitments and contingencies
               
                 
Equity:
               
Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares,
               
Series B Cumulative Redeemable Preferred, liquidation preference $79,000, 3,160,000 shares issued and outstanding
    76,315       76,315  
Series C Cumulative Convertible Preferred, liquidation preference $129,915, 2,598,300 shares issued and outstanding
    126,217       126,217  
Series D Cumulative Redeemable Preferred, liquidation preference $155,000, 6,200,000 shares issued and outstanding
    149,774       149,774  
Common shares, par value $0.0001 per share; authorized 400,000,000 shares, 100,780,075 and 100,300,238 shares issued and outstanding in 2009 and 2008, respectively
    10       10  
Additional paid-in-capital
    1,640,128       1,638,540  
Accumulated distributions in excess of net income
    (642,525 )     (569,131 )
Accumulated other comprehensive income  (loss)
    (16,112 )     (15,650 )
Total shareholders’ equity
    1,333,807       1,406,075  
Noncontrolling interests
    93,305       94,996  
Total equity
    1,427,112       1,501,071  
    $ 3,961,438     $ 4,105,725  

Page 8 of 46

 
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
EARNINGS PER SHARE AND COMPANY FUNDS FROM OPERATIONS PER SHARE
(in thousands, except share data)

   
Three Months Ended March 31,
 
   
2009
   
2008 (1)
 
EARNINGS PER SHARE:
           
Basic
           
Income (loss) from continuing operations attributable to Lexington
  $ (68,003 )   $ 6,563  
Less preferred dividends
    (6,627 )     (7,035 )
Income (loss) attributable to common shareholders from continuing operations - basic
    (74,630 )     (472 )
Total income (loss) from discontinued operations - basic
    3,055       (920 )
Net  income (loss) attributable to common shareholders - basic
  $ (71,575 )   $ (1,392 )
                 
Weighted average number of common shares outstanding
    99,954,569       59,826,579  
Per share data:
               
Income (loss) from continuing operations, after preferred dividends
  $ (0.75 )   $ (0.01 )
Income (loss) from discontinued operations
    0.03       (0.01 )
Net  income (loss) attributable to common shareholders
  $ (0.72 )   $ (0.02 )
                 
Diluted
               
Income (loss) attributable to common shareholders from continuing operations - basic
  $ (74,630 )   $ (472 )
Adjustments:
               
Incremental income attributable to assumed conversion of dilutive securities
    -       -  
Income (loss) attributable to common shareholders from continuing operations – diluted
    (74,630 )     (472 )
Total income (loss) from discontinued operations - diluted
    3,055       (920 )
Net income (loss) attributable to common shareholders - diluted
  $ (71,575 )   $ (1,392 )
                 
Weighted average number of shares used in calculation of basic earnings per share
    99,954,569       59,826,579  
Add incremental shares representing:
               
Shares issuable upon conversion of dilutive interests
    -       -  
Weighted average number of shares used in calculation of diluted earnings per common share
    99,954,569       59,826,579  
Per share data:
               
Income (loss) from continuing operations, after preferred dividends – diluted
  $ (0.75 )   $ (0.01 )
Income (loss) from discontinued operations - diluted
    0.03       (0.01 )
Net  income (loss)  attributable to common shareholders - diluted
  $ (0.72 )   $ (0.02 )
 
Page 9 of 46

 
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
 
EARNINGS PER SHARE AND COMPANY FUNDS FROM OPERATIONS PER SHARE (Continued)
(in thousands, except share data)

   
Three Months Ended March 31,
 
   
2009
   
2008(1)
 
COMPANY FUNDS FROM OPERATIONS: (2)
           
Basic and Diluted:
           
             
Net  loss attributable to common shareholders
  $ (71,575 )   $ (1,392 )
Adjustments:
               
Depreciation and amortization
    46,685       55,956  
Noncontrolling interests - OP units
    88       5,376  
Amortization of leasing commissions
    769       592  
Joint venture and noncontrolling interest adjustment
    6,296       705  
Preferred dividends - Series C
    2,111       2,519  
Gains on sale of properties
    (3,094 )     (23,856 )
Noncontrolling interest- sale of property
    -       84  
Company FFO
  $ (18,720 )   $ 39,984  
                 
Basic:
               
Weighted average shares outstanding - basic EPS
    99,954,569       59,826,579  
Unvested share based payment awards
    709,800       445,067  
Operating Partnership Units
    5,309,400       39,644,176  
Preferred Shares - Series C
    5,648,950       6,721,730  
Weighted average common shares outstanding – basic Company FFO
    111,622,719       106,637,552  
Company FFO per common share
  $ (0.17 )   $ 0.38  
                 
Diluted:
               
Weighted average shares outstanding – diluted EPS
    99,954,569       59,826,579  
Unvested share based payment awards
    709,800       445,067  
Operating Partnership Units
    5,309,400       39,644,176  
Preferred Shares - Series C
    5,648,950       6,721,730  
Weighted average common shares outstanding - diluted Company FFO
    111,622,719       106,637,552  
Company FFO per common share
  $ (0.17 )   $ 0.38  

1 Effective January 1, 2009 the Company adopted FASB Staff Position APB 14-1 “Accounting for Convertible Debt Instruments That May Be Settled in Cash Upon Conversion (Including Partial Cash Settlement) and FASB Staff Position No. EITF 03-6-1, “Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities”, both of which require retrospective application to prior periods. In accordance with FASB Staff Position EITF 03-6-1, net income attributable to common shareholders and earnings per common share and accordingly FFO and FFO per common share are adjusted for an allocation of net income to unvested share awards. However, net losses will not be allocated to unvested share awards. The Company’s FFO per common share (diluted) and earnings per common share (diluted) were reduced by the Company’s implementation of these FASB Staff Positions. FFO per common share (diluted) was reduced by $0.01 and $0.04 for the three months ended March 31, 2009 and 2008, respectively, and earnings (loss)  per common share (diluted) was reduced by $0.01 and $0.03 for the three months ended March 31, 2009 and 2008,  respectively.

2 Lexington believes that Funds from Operations (“FFO”) is a widely recognized and appropriate measure of the performance of an equity REIT.  Lexington presents FFO because it considers FFO an important supplemental measure of Lexington’s operating performance.  Lexington believes FFO is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results.  FFO is intended to exclude generally accepted accounting principles (“GAAP”), historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate diminishes ratably over time.  Historically, however, real estate values have risen or fallen with market conditions.  As a result, FFO provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities, interest costs and other matters without the inclusion of depreciation and amortization, providing perspective that may not necessarily be apparent from net income.

Lexington computes FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”).   FFO is defined by NAREIT as “net income (or loss) computed in accordance with GAAP, excluding gains (or losses) from sales of property, plus real estate depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures.”  FFO does not represent cash generated from operating activities in accordance with GAAP and is not indicative of cash available to fund cash needs.  FFO should not be considered as an alternative to net income as an indicator of our operating performance or as an alternative to cash flow as a measure of liquidity.
 
Page 10 of 46

 
Lexington includes in its calculation of FFO, which Lexington refers to as the “Company’s funds from operations” or “Company FFO,” Lexington’s operating partnership units and Lexington’s Series C Cumulative Convertible Preferred Shares because these securities are convertible, at the holder’s option, into Lexington’s common shares.  Management believes this is appropriate and relevant to securities analysts, investors and other interested parties because Lexington presents Company FFO on a company-wide basis as if all securities that are convertible, at the holder’s option, into Lexington’s common shares, are converted.  Since others do not calculate FFO in a similar fashion, Company FFO may not be comparable to similarly titled measures as reported by others.
 
# # #
 
 
Page 11 of 46

 
 
LEXINGTON REALTY TRUST
2009 First Quarter Leasing Summary

   
NEW LEASES
                               
   
Tenants/Guarantors
 
Location
 
Property
Type
 
Lease
Expiration
Date
   
Sq. Ft.
   
New Cash
Rent Per
Annum
($000)
   
New GAAP
Rent Per
Annum
($000)
 
1
 
Bando's
 
Beaumont
TX
 
Office
 
MTM
      4,000     $ 18     $ 18  
2
 
Clarius Partners, LLC
 
Chicago
IL
 
Office
 
MTM
      2,000     $ 41     $ 41  
3
 
Owens Corning Insulating Systems, LLC
 
Hebron
OH
 
 Industrial
 
MTM
      102,960     $ 286     $ 286  
4
 
Roche Diagnostics Operations, Inc.
 
Fishers
IN
 
Office
   
01/2020
      193,000     $ 2,461     $ 3,424  
5
 
Subway Real Estate Corporation
 
Baltimore
MD
 
Office
   
06/2019
      1,478     $ 55     $ 55  
5
 
TOTAL NEW LEASES
                      303,438     $ 2,861     $ 3,824  
                                               
   
LEASE EXTENSIONS
                                         
   
Tenants/Guarantors
 
Location
 
Property
Type
Lease
Expiration
Date
Sq. Ft.
 
New Cash
Rent Per
Annum
($000)
 
Prior Cash
Rent Per
Annum
($000)
 
New GAAP
Rent Per
Annum
($000)
 
Prior
GAAP Rent
Per Annum
($000)
 
1
 
Committee on House Administration of the House of Representatives of the State of Texas
 
Dallas
TX
 
Office
 
12/2010
  579   $ 9   $ 8   $ 9   $ 8  
2
 
Damar Services, Inc.
 
Indianapolis
IN
 
Office
 
08/2012
  5,756   $ 42   $ 40   $ 42   $ 40  
3
 
Edward F. Clarke
 
Honolulu
HI
 
Office
 
02/2010
  301   $ 4   $ 5   $ 4   $ 5  
4
 
FAQ Hawaii, Inc.
 
Honolulu
HI
 
Office
 
07/2009
  556   $ 10   $ 10   $ 10   $ 10  
5
 
Jacky Wong, dba Wong’s Photos
 
Honolulu
HI
 
Office
 
01/2014
  373   $ 12   $ 13   $ 12   $ 13  
6
 
Jane Shigemoto, dba Star Beauty Shop
 
Honolulu
HI
 
Office
 
05/2010
  663   $ 8   $ 8   $ 8   $ 8  
7
 
Jordan Associates, Inc. (1)
 
Oklahoma City
OK
 
Office
 
06/2009
  10,000   $ 40   $ 332   $ 40   $ 332  
8
 
Kingswere Furniture, LLC
 
Port Richey
FL
 
Retail
 
10/2018
  53,280   $ 346   $ -   $ 346   $ -  
9
 
Scottrade, Inc.
 
San Francisco
CA
 
Office
 
09/2012
  2,030   $ 93   $ 93   $ 93   $ 93  
10
 
Transocean Offshore Deepwater Drilling Inc.
 
Houston
TX
 
Office
 
03/2021
  155,040   $ 3,061   $ 3,412   $ 2,625   $ 3,160  
11
 
W.C. Pinkard & Co., Inc.
 
Baltimore
MD
 
Office
 
06/2019
  14,629   $ 395   $ 316   $ 395   $ 316  
11
 
TOTAL LEASE EXTENSIONS
                243,207   $ 4,020   $ 4,237   $ 3,584   $ 3,985  
                                                 
16
 
TOTAL NEW AND RENEWED LEASES
                546,645   $ 6,881   $ 4,237   $ 7,408   $ 3,985  
 
Footnotes
(1) Held as an investment in NLS joint venture.
 
Page 12 of 46

 
LEXINGTON REALTY TRUST
2009 First Quarter Investment/Disposition Summary

   
INVESTMENTS - FEE POSITIONS
               
   
Tenants/Guarantors
 
Location
 
Property Type
 
Basis
($000)
   
1
 
Multi-Tenant - Ground Parcel (1)
 
Long Beach
CA
 
Office
  $ 2,500    
1
 
TOTAL INVESTMENT
            $ 2,500    

   
DISPOSITIONS - LEASED PROPERTIES
                             
   
Tenants/Guarantors
 
Location
 
Property Type
 
Gross
Sale Price
($000)
   
Gain
Recognized
($000)
   
Cash
Cap Rate
   
Month of
Disposition
1
 
Jones Management Service Company
 
Bristol
PA
 
Office
  $ 11,386     $ 3,094       9.1 %  
Jan
1
 
TOTAL DISPOSITION
            $ 11,386     $ 3,094       9.1 %    
 
Footnotes
(1) 55.0% is our proportionate share, amount shown is 100%.
 
Page 13 of 46

 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 03/31/09
 
Year of
Lease
Expiration
Date of
Lease
Expiration
 
Property Location
City
State
Note
Primary Tenant (Guarantor)
Year
Built/Renovated/
Expanded
Sq.Ft. Leased
or Available (1)
Cash Rent
as of
3/31/2009
 ($000) (2)
GAAP
Base Rent
as of
 3/31/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
OFFICE PROPERTIES
                 
2009
4/30/2009
 
5550 Tech Center Dr.
Colorado Springs
CO
Federal Express Corporation
1982/2006
             61,690
210
187
0
     
6277 Sea Harbor Dr.
Orlando
FL
Harcourt Brace Jovanovich, Inc.
1984
           355,840
1,161
934
0
 
8/31/2009
 
1311 Broadfield Blvd.
Houston
TX
Newpark Drilling Fluids, Inc. (Newpark Resources, Inc.)
2000
             52,731
282
285
0
     
2706 Media Center Dr.
Los Angeles
CA
Sony Electronics, Inc.
2000
             20,203
72
68
0
 
9/15/2009
 
15375 Memorial Dr.
Houston
TX
BP America Production Company
1985
           349,674
900
1,063
0
 
9/30/2009
 
100 Light St.
Baltimore
MD
Legg Mason Tower, Inc.
1973
           371,392
1,992
1,992
0
 
11/30/2009
 
5724 West Las Positas Blvd.
Pleasanton
CA
(9)
NK Leasehold
1984
             40,914
207
170
0
 
12/31/2009
 
1701 Market St.
Philadelphia
PA
(6)(10)
Sun National Bank
1957/1997
              5,315
53
53
0
2010
1/14/2010
 
421 Butler Farm Rd.
Hampton
VA
Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)
2000
             56,515
195
180
0
 
1/31/2010
 
4848 129th East Ave.
Tulsa
OK
Metris Direct, Inc. (Metris Companies, Inc.)
2000
           101,100
327
327
0
     
389-399 Interpace Hwy.
Parsippany
NJ
Sanofi-aventis U.S., Inc. (Aventis, Inc. and Aventis Pharma Holding GmbH)
1999
           206,593
2,253
2,210
0
 
2/10/2010
 
130 East Shore Dr.
Glen Allen
VA
Capital One Services, Inc.
2000
             79,675
259
268
1,070
 
3/31/2010
 
120 East Shore Dr.
Glen Allen
VA
Capital One Services, Inc.
2000
             77,045
250
252
1,042
 
7/31/2010
 
350 Pine St.
Beaumont
TX
Honeywell International, Inc.
1981
              7,045
27
27
0
 
10/31/2010
 
12209 West Markham St.
Little Rock
AR
Entergy Arkansas, Inc.
1980
             36,311
59
59
237
 
11/30/2010
 
6200 Northwest Pkwy.
San Antonio
TX
United Healthcare Services, Inc.
2000
           142,500
410
405
1,968
 
12/31/2010
 
100 Barnes Rd.
Wallingford
CT
3M Company
1978/1985/1990/1993
             44,400
164
151
475
2011
2/28/2011
 
4200 RCA Blvd.
Palm Beach Gardens
FL
The Wackenhut Corporation
1996
             96,118
453
453
2,402
 
9/30/2011
 
200 Lucent Ln.
Cary
NC
Alcatel-Lucent USA, Inc.
1999
           124,944
553
515
0
 
11/30/2011
 
207 Mockingbird Ln.
Johnson City
TN
Sun Trust Bank
1979
             63,800
169
189
675
 
12/20/2011
 
15 Nijborg
3927 DA Renswoude
The Netherlands
AS Watson (Health and Beauty Continental Europe, BV)
1993/1994
             17,610
83
83
0
 
12/31/2011
 
2050 Roanoke Rd.
Westlake
TX
Daimler Chrysler Services North America, LLC
2001
           130,290
915
864
0
2012
1/31/2012
 
26210 and 26220 Enterprise Court
Lake Forest
CA
Apria Healthcare, Inc. (Apria Healthcare Group, Inc.)
2001
           100,012
475
448
0
     
4000 Johns Creek Pkwy.
Suwanee
GA
Kraft Foods North America, Inc.
2001
             73,264
349
346
0
     
1275 Northwest 128th St.
Clive
IA
Principal Life Insurance Company
2004
             61,180
200
200
935
 
3/31/2012
 
1701 Market St.
Philadelphia
PA
(6)(10)
Car-Tel Communications, Inc.
1957/1997
              1,220
12
12
0
     
3940 South Teller St.
Lakewood
CO
Travelers Express Company, Inc.
2002
             68,165
292
216
1,295
 
4/30/2012
 
2300 Litton Ln.
Hebron
KY
Zwicker & Associates, P.C.
1986/1996
             14,961
20
20
0
 
6/30/2012
 
275 South Valencia Ave.
Brea
CA
Bank of America NT & SA
1983
           637,503
2,178
2,199
0
 
8/31/2012
 
2300 Litton Ln.
Hebron
KY
AGC Automotive Americas Company (AFG Industries, Inc.)
1986/1996
             25,629
51
51
0
     
5757 Decatur Blvd.
Indianapolis
IN
Allstate Insurance Company
2002
             84,200
343
387
0
           
(4)
Damar Services, Inc.
2002
              5,756
10
10
47
 
10/31/2012
 
4455 American Way
Baton Rouge
LA
Bell South Mobility, Inc.
1997
             70,100
276
278
1,207
 
11/7/2012
 
2706 Media Center Dr.
Los Angeles
CA
Playboy Enterprises, Inc.
2000
             63,049
361
314
0
 
11/14/2012
 
2211 South 47th St.
Phoenix
AZ
Avnet, Inc.
1997
           176,402
602
565
0
 
12/31/2012
 
200 Executive Blvd. South
Southington
CT
Hartford Fire Insurance Company
1984
           153,364
420
406
0
2013
1/31/2013
 
12600 Gateway Blvd.
Fort Meyers
FL
Gartner, Inc.
1998
             62,400
274
273
0
     
2300 Litton Ln.
Hebron
KY
FTJ FundChoice, LLC
1986/1996
             10,752
13
12
0
     
3476 Stateview Blvd.
Fort Mill
SC
Wells Fargo Home Mortgage, Inc.
2004
           169,083
765
756
0
     
810 & 820 Gears Rd.
Houston
TX
IKON Office Solutions, Inc.
2000
           157,790
557
563
0
 
3/31/2013
 
3165 McKelvey Rd.
Bridgeton
MO
BJC Health System
1981
             52,994
96
132
0
     
8900 Freeport Pkwy.
Irving
TX
Nissan Motor Acceptance Corporation (Nissan North America, Inc.)
2003
           268,445
1,187
1,222
0
 
4/30/2013
 
Sandlake Rd./Kirkman Rd.
Orlando
FL
Lockheed Martin Corporation
1982
           184,000
240
467
960
 
 
Page 14 of 46

 
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 03/31/09
 
Year of
Lease
Expiration
Date of
Lease
Expiration
 
Property Location
City
State
Note
Primary Tenant (Guarantor)
Year
Built/Renovated/
Expanded
Sq.Ft. Leased
or Available (1)
Cash Rent
as of
3/31/2009
 ($000) (2)
GAAP
Base Rent
as of
3/31/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
 
5/31/2013
 
6303 Barfield Rd.
Atlanta
GA
International Business Machines Corporation (Internet Security Systems, Inc.)
2000/2001
           238,600
1,176
1,220
0
     
859 Mount Vernon Hwy.
Atlanta
GA
International Business Machines Corporation (Internet Security Systems, Inc.)
2004
             50,400
297
257
0
 
6/30/2013
 
2210 Enterprise Dr.
Florence
SC
(6)
JPMorgan Chase Bank, NA
1998
           179,300
314
314
0
 
7/31/2013
 
2300 Litton Ln.
Hebron
KY
Zwicker & Associates, P.C.
1986/1996
             25,475
28
27
0
 
9/30/2013
 
9200 South Park Center Loop
Orlando
FL
(6)
Corinthian Colleges, Inc.
2003
             59,927
311
290
0
 
11/30/2013
 
1110 Bayfield Dr.
Colorado Springs
CO
Honeywell International, Inc.
1980/1990/2002
           166,575
436
400
1,713
 
12/13/2013
 
3333 Coyote Hill Rd.
Palo Alto
CA
Xerox Corporation
1973/1975/1982
           202,000
875
848
0
 
12/31/2013
 
2550 Interstate Dr.
Harrisburg
PA
New Cingular Wireless PCS, LLC
1998
             81,859
455
468
0
2014
1/31/2014
 
1701 Market St.
Philadelphia
PA
(10)
Morgan, Lewis & Bockius, LLC
1957/1997
           293,170
1,116
1,116
5,149
     
6226 West Sahara Ave.
Las Vegas
NV
Nevada Power Company
1982
           282,000
1,934
1,002
2,754
 
2/28/2014
 
1500 Hughes Way
Long Beach
CA
Fluor Enterprises, Inc.
1981
             86,610
156
483
0
 
3/15/2014
 
101 East Erie St.
Chicago
IL
Draftfcb, Inc. (Interpublic Group of Companies, Inc.)
1986
           218,414
1,020
1,236
0
 
5/31/2014
 
3480 Stateview Blvd.
Fort Mill
SC
Wells Fargo Bank, NA
2004
           169,218
849
862
0
 
7/31/2014
 
16676 Northchase Dr.
Houston
TX
Anadarko Petroleum Corporation
2003
           101,111
402
407
0
     
350 Pine St.
Beaumont
TX
Entergy Gulf States, Inc.
1981
           125,406
266
317
0
 
9/30/2014
 
333 Mt. Hope Ave.
Rockway
NJ
BASF Corporation
1981/2002/2004
             95,500
561
531
0
 
10/31/2014
 
1409 Centerpoint Blvd.
Knoxville
TN
Alstom Power, Inc.
1997
             84,404
392
405
0
     
2800 Waterford Lake Dr.
Midlothian
VA
Alstom Power, Inc.
2000
             99,057
488
504
0
     
700 US Hwy. Route 202-206
Bridgewater
NJ
Biovail Pharmaceuticals, Inc. (Biovail Corporation)
1985/2003/2004
           115,558
506
712
0
 
12/14/2014
 
5150 220th Ave.
Issaquah
WA
OSI Systems, Inc. (Instrumentarium Corporation)
1992
           106,944
531
538
0
     
22011 Southeast 51st St.
Issaquah
WA
OSI Systems, Inc. (Instrumentarium Corporation)
1987
             95,600
475
480
0
 
12/31/2014
 
180 South Clinton St.
Rochester
NY
(6)
Frontier Corporation
1988/2000
           226,000
744
742
0
     
275 Technology Dr.
Canonsburg
PA
ANSYS, Inc.
1996
           107,872
357
344
0
     
3535 Calder Ave.
Beaumont
TX
Compass Bank
1977
             49,639
171
171
0
     
400 Butler Farm Rd.
Hampton
VA
Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)
1999
           100,632
302
310
0
2015
1/31/2015
 
26555 Northwestern Hwy.
Southfield
MI
Federal-Mogul Corporation
1963/1965/1988/1989
           187,163
290
355
0
 
4/30/2015
 
13775 McLearen Rd.
Herndon
VA
Equant, Inc. (Equant ,NV)
1984/1988/1992
           125,293
514
533
0
 
6/30/2015
 
389-399 Interpace Hwy.
Parsippany
NJ
Cadbury Schweppes Holdings
1999
           133,647
53
53
0
 
7/1/2015
 
33 Commercial St.
Foxboro
MA
Invensys Systems, Inc. (Siebe, Inc.)
1982/1987
           164,689
859
859
3,024
 
7/31/2015
 
4001 International Pkwy.
Carrollton
TX
Motel 6 Operating, LP (Accor S.A.)
2003
           138,443
811
817
3,612
 
9/27/2015
 
10001 Richmond Ave.
Houston
TX
Baker Hughes, Inc.
1976/1984
           554,385
177
1,844
6,596
     
12645 West Airport Rd.
Sugar Land
TX
Baker Hughes, Inc.
1997
           165,836
35
486
1,976
 
9/30/2015
 
500 Olde Worthington Rd.
Westerville
OH
(5)
InVentiv Communications, Inc.
2000
             97,000
278
314
0
     
550 Business Center Dr.
Lake Mary
FL
JPMorgan Chase Bank, NA
1999
           125,920
762
436
0
     
600 Business Center Dr.
Lake Mary
FL
JPMorgan Chase Bank, NA
1996
           125,155
787
415
0
 
10/31/2015
 
13430 North Black Canyon Fwy.
Phoenix
AZ
Bull HN Information Systems, Inc.
1981/1982
             42,320
130
141
0
2016
3/31/2016
 
13430 North Black Canyon Fwy.
Phoenix
AZ
Money Management International
1981/1982
             28,710
151
157
0
 
4/30/2016
 
11511 Luna Rd.
Farmers Branch
TX
Haggar Clothing Company (Texas Holding Clothing Corporation and Haggar Corporation)
2000
           180,507
540
797
2,531
     
2000 Eastman Dr.
Milford
OH
Siemens Product Lifecycle Management Software, Inc.
1991
           221,215
622
456
2,426
 
7/31/2016
 
1600 Viceroy Dr.
Dallas
TX
Visiting Nurse Association
1986
             48,027
162
154
0
     
13430 North Black Canyon Fwy.
Phoenix
AZ
Associated Billing Services, LLC
1981/1982
             17,767
75
77
0
 
10/31/2016
 
104 & 110 South Front St.
Memphis
TN
Hnedak Bobo Group, Inc.
1871/1988/1999
             37,229
121
125
0
 
11/30/2016
 
4000 Johns Creek Pkwy.
Suwanee
GA
Perkin Elmer Instruments, LLC
2001
             13,955
56
58
0
 
12/31/2016
 
37101 Corporate Dr.
Farmington Hills
MI
TEMIC Automotive of North America, Inc.
2001
           119,829
768
611
0
 
 
Page 15 of 46

 
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 03/31/09
 
Year of
Lease
Expiration
Date of
Lease
Expiration 
 
Property Location
City
State
Note
Primary Tenant (Guarantor)
Year
Built/Renovated/ 
Expanded
Sq.Ft. Leased
or Available (1)
Cash Rent
as of
3/31/2009
 ($000) (2)
GAAP
Base Rent
as of
3/31/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
2017
1/31/2017
 
6301 Gaston Ave.
Dallas
TX
Wells Fargo
1970/1981
             16,431
37
37
0
 
4/30/2017
 
555 Dividend Dr.
Coppell
TX
Brinks, Inc.
2002
           101,844
465
479
0
     
1315 West Century Dr.
Louisville
CO
Global Healthcare Exchange
1987
           106,877
313
400
0
 
9/30/2017
 
9201 East Dry Creek Rd.
Centennial
CO
The Shaw Group, Inc.
2001/2002
           128,500
549
591
0
2018
5/30/2018
 
13651 McLearen Rd.
Herndon
VA
US Government
1987
           159,664
738
846
0
 
5/31/2018
 
2300 Litton Ln.
Hebron
KY
Great American Insurance Company
1986/1996
              3,623
4
4
99
 
6/14/2018
 
17 Nijborg
3927 DA Renswoude
The Netherlands
AS Watson (Health and Beauty Continental Europe, BV)
1993/1994
           114,195
736
588
0
 
7/31/2018
 
4200 RCA Blvd.
Palm Beach Gardens
FL
Office Suites Plus Properties, Inc.
1996
             18,400
105
112
0
 
9/15/2018
 
295 Chipeta Way
Salt Lake City
UT
Northwest Pipeline Corporation
1982
           295,000
1,580
1,580
3,463
 
9/30/2018
 
1701 Market St.
Philadelphia
PA
(6)
Brinker Corner Bakery II, LLC
1957/1997
              8,070
48
53
0
 
11/30/2018
 
4201 Marsh Ln.
Carrollton
TX
Carlson Restaurants Worldwide, Inc. (Carlson Companies, Inc.)
2003
           130,000
482
494
0
 
12/22/2018
 
5200 Metcalf Ave.
Overland Park
KS
Swiss Re American Holding Corporation
1980/1990/2004/2005
           320,198
1,114
1,122
0
 
12/31/2018
 
1500 Hughes Way
Long Beach
CA
(11)
Molina Healthcare, Inc.
1981
           158,074
0
703
0
2019
1/31/2019
 
1600 Viceroy Dr.
Dallas
TX
TFC Services, Inc. (Freeman Decorating Company)
1986
           116,358
294
372
0
 
3/31/2019
 
1500 Hughes Way
Long Beach
CA
(11)
Jacobs Engineering Group, Inc.
1981
             83,919
312
312
0
 
4/1/2019
 
9201 Stateline Rd.
Kansas City
MO
Swiss Re American Holding Corporation
1963/1973/1985/2003
           155,925
516
516
0
 
6/19/2019
 
3965 Airways Blvd.
Memphis
TN
Federal Express Corporation
1982/1983/1985
           521,286
1,781
1,753
5,375
 
7/31/2019
 
500 Jackson St.
Columbus
IN
Cummins, Inc.
1984
           390,100
1,068
1,135
4,925
 
9/30/2019
 
13430 North Black Canyon Fwy.
Phoenix
AZ
Brown Mackie College-Phoenix, Inc.
1981/1982
             24,834
0
0
0
 
10/31/2019
 
10475 Crosspoint Blvd.
Fishers
IN
John Wiley & Sons, Inc.
1999
           141,047
599
567
0
 
12/31/2019
 
850-950 Warrenville Rd.
Lisle
IL
(5)
National Louis University
1985
             99,414
331
419
0
2020
1/31/2020
 
10300 Kincaid Dr.
Fishers
IN
(8)
JPMorgan Chase Bank, NA
1999
           193,000
846
694
0
 
2/14/2020
 
5600 Broken Sound Blvd.
Boca Raton
FL
(6)
Océ Printing Systems USA, Inc. (Oce-USA Holding, Inc.)
1983/2002
           136,789
541
561
0
 
7/8/2020
 
1460 Tobias Gadsen Blvd.
Charleston
SC
(6)
Hagemeyer North America, Inc.
2005
             50,076
191
210
0
2021
2/28/2021
 
5550 Britton Pkwy.
Hilliard
OH
(5)
BMW Financial Services NA, LLC
2006
           220,966
636
651
0
 
3/31/2021
 
1311 Broadfield Blvd.
Houston
TX
Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.)
2000
           103,260
571
505
0
 
6/30/2021
 
1415 Wyckoff Rd.
Wall
NJ
New Jersey Natural Gas Company
1983
           157,511
731
731
4,224
 
11/30/2021
 
29 South Jefferson Rd.
Whippany
NJ
CAE SimuFlite, Inc.
2006/2008
           123,734
573
582
2,069
2022
12/31/2022
 
147 Milk St.
Boston
MA
Harvard Vanguard Medical Assoc.
1910
             52,337
383
415
0
2023
3/31/2023
 
6555 Sierra Dr.
Irving
TX
TXU Energy Retail Company, LLC (Texas Competitive Electric Holdings Company, LLC)
1999
           247,254
518
738
0
 
7/31/2023
 
11201 Renner Blvd.
Lenexa
KS
(6)
Applebee’s Services, Inc. (DineEquity, Inc.)
2007
           178,000
878
976
0
2025
11/30/2025
 
11707 Miracle Hills Dr.
Omaha
NE
Infocrossing, Inc.
1988/1995
             85,200
292
292
0
 
12/31/2025
 
2005 East Technology Cir.
Tempe
AZ
Infocrossing, Inc.
1998
             60,000
282
282
0
NA
NA
 
10 John St.
Clinton
CT
(12)
(Available for Lease)
1972
             41,188
0
0
0
     
100 Light St.
Baltimore
MD
(Available for Lease)
1973
             12,648
0
0
0
     
1500 Hughes Way
Long Beach
CA
(11)
(Available for Lease)
1981
           161,451
0
0
0
     
160 Clairemont Ave.
Decatur
GA
(Available for Lease)
1983
             63,833
0
0
0
     
1600 Viceroy Dr.
Dallas
TX
(Available for Lease)
1986
             48,359
0
0
0
     
1701 Market St.
Philadelphia
PA
(10)
Parking Operators
1957/1997
                     -
597
597
0
     
255 California St.
San Francisco
CA
(9)
(Available for Lease)
1959
             39,297
0
0
0
     
350 Pine St.
Beaumont
TX
(Available for Lease)
1981
             80,459
0
0
0
     
9950 Mayland Dr.
Richmond
VA
(7)
(Available for Lease)(Prior tenant Circuit City Stores, Inc.)
1990
           288,000
477
477
0
     
6301 Gaston Ave.
Dallas
TX
(Available for Lease)
1970/1981
             69,065
0
0
0
     
1032 Fort St. Mall
Honolulu
HI
Parking Operators
1979/2002
                     -
379
379
0
 
 
Page 16 of 46

 
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 03/31/09
 
Year of
Lease
Expiration
Date of
Lease
Expiration 
 
Property Location
City
State
Note
Primary Tenant (Guarantor)
Year
Built/Renovated/ 
Expanded
Sq.Ft. Leased
or Available (1)
Cash Rent
as of
3/31/2009
($000) (2)
GAAP
Base Rent
as of
3/31/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
     
13430 North Black Canyon Fwy.
Phoenix
AZ
(Available for Lease)
1981/1982
             25,309
0
0
0
     
100 East Shore Dr.
Glen Allen
VA
(Available for Lease)
1999
              3,263
0
0
0
     
1770 Cartwright Rd.
Irvine
CA
(13)
(Available for Lease)
1982
             44,531
0
0
0
     
101 East Erie St.
Chicago
IL
(Available for Lease)(Prior tenant Draftfcb, Inc.)
1986
             12,270
0
0
0
     
King St.
Honolulu
HI
(Available for Lease)
1979/2002
             10,961
0
0
0
Various
Various
 
100 Light St.
Baltimore
MD
Multi-Tenant
1973
           139,200
1,148
1,148
0
     
160 Clairemont Ave.
Decatur
GA
Multi-Tenant
1983
             57,853
201
201
0
     
255 California St.
San Francisco
CA
(9)
Multi-Tenant
1959
           134,150
909
947
0
     
350 Pine St.
Beaumont
TX
Multi-Tenant
1981
           212,288
880
882
0
     
6301 Gaston Ave.
Dallas
TX
Multi-Tenant
1970/1981
             88,359
363
363
0
     
100 East Shore Dr.
Glen Allen
VA
Multi-Tenant
1999
             64,245
321
327
0
     
1770 Cartwright Rd.
Irvine
CA
(13)
Multi-Tenant
1982
           104,663
527
635
0
     
King St.
Honolulu
HI
Multi-Tenant
1979/2002
           228,330
324
321
990
OFFICE TOTAL/WEIGHTED AVERAGE
     
94.8% Leased
 
      17,401,943
 $            64,708
 $            67,281
 
 
 
Page 17 of 46

 
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 03/31/09
 
Year of
Lease
Expiration
Date of
Lease
Expiration 
 
Property Location
City
State
Note
Primary Tenant (Guarantor)
Year
Built/Renovated/
Expanded
Sq.Ft. Leased
or Available
(1)
Cash Rent
as of
3/31/2009
 ($000) (2)
GAAP
Base Rent
as of 
3/31/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
INDUSTRIAL PROPERTIES
                 
2009
5/31/2009
 
191 Arrowhead Dr.
Hebron
OH
Owens Corning Insulating Systems, LLC
1999
           102,960
72
72
0
     
200 Arrowhead Dr.
Hebron
OH
Owens Corning Insulating Systems, LLC
2000
           400,522
257
246
0
 
12/31/2009
 
75 North St.
Saugerties
NY
(14)
Rotron, Inc. (EG&G)
1979
             52,000
31
58
122
2010
4/30/2010
 
2203 Sherrill Dr.
Statesville
NC
LA-Z-Boy Greensboro, Inc. (LA-Z-Boy Inc.)
1999/2002
           639,600
412
476
1,813
 
12/31/2010
 
113 Wells St.
North Berwick
ME
United Technologies Corporation
1965/1980
           820,868
586
586
1,811
2011
3/31/2011
 
2455 Premier Dr.
Orlando
FL
Walgreen Company
1980
           205,016
127
196
508
 
5/31/2011
 
291 Park Center Dr.
Winchester
VA
(5)
Kraft Foods North America, Inc.
2001
           344,700
402
394
0
 
9/25/2011
 
3820 Micro Dr.
Millington
TN
(6)
Ingram Micro, L.P (Ingram Micro, Inc.)
1997
           701,819
610
593
0
 
9/30/2011
 
1601 Pratt Ave.
Marshall
MI
Joseph Campbell Company
1979
             58,300
31
31
0
2012
8/4/2012
 
101 Michelin Dr.
Laurens
SC
CEVA Logistics US, Inc. (TNT Holdings BV)
1991/1993
        1,164,000
853
826
2,619
     
7111 Crabb Rd.
Temperance
MI
CEVA Logistics US, Inc. (TNT Holdings BV)
1978/1993
           744,570
572
553
1,756
 
10/31/2012
 
43955 Plymouth Oaks Blvd.
Plymouth
MI
Tower Automotive Operations USA I, LLC (Tower Automotive Holdings I, LLC)
1996/1998
           290,133
471
459
0
 
12/31/2012
 
245 Salem Church Rd.
Mechanicsburg
PA
Exel Logistics, Inc. (NFC plc)
1985
           252,000
217
216
0
2013
10/31/2013
 
7150 Exchequer Dr.
Baton Rouge
LA
Corporate Express Office Products, Inc. (Corporate Express US, Inc.)
1998/2005
             79,086
115
110
0
2014
1/2/2014
 
2415 US Hwy. 78 East
Moody
AL
CEVA Logistics US, Inc. (TNT Holdings BV)
2004
           595,346
263
263
1,054
 
1/31/2014
 
1133 Poplar Creek Rd.
Henderson
NC
Corporate Express Office Products, Inc. (Corporate Express US, Inc.)
1998/2006
           196,946
206
202
0
 
12/31/2014
 
3686 South Central Ave.
Rockford
IL
Jacobson Warehouse Company, Inc. (Jacobson Distribution Company, Inc. and Jacobson Transportation Company, Inc.)
1992
             90,000
101
79
446
2015
12/31/2015
 
749 Southrock Dr.
Rockford
IL
Jacobson Warehouse Company, Inc. (Jacobson Distribution Company, Inc. and Jacobson Transportation Company, Inc.)
1992
           150,000
113
122
525
2016
2/28/2016
 
7670 Hacks Cross Rd.
Olive Branch
MS
MAHLE Clevite, Inc. (MAHLE Industries, Inc.)
1989
           268,104
239
229
0
 
3/31/2016
 
19500 Bulverde Rd.
San Antonio
TX
Harcourt, Inc. (Harcourt General, Inc.)
2001
           559,258
833
857
0
 
8/31/2016
 
10590 Hamilton Ave.
Cincinnati
OH
The Hillman Group, Inc.
1991/1994/1995/2005
           247,088
198
198
0
 
9/30/2016
 
900 Industrial Blvd.
Crossville
TN
Dana Commercial Vehicle Products, LLC (Dana Limited)
1989/2006
           222,200
171
171
0
2017
2/28/2017
 
3456 Meyers Ave.
Memphis
TN
Sears, Roebuck & Company
1973
           780,000
398
424
1,592
 
6/30/2017
 
7500 Chavenelle Rd.
Dubuque
IA
The McGraw-Hill Companies, Inc.
2002
           330,988
288
291
0
 
9/30/2017
 
250 Swathmore Ave.
High Point
NC
Steelcase, Inc.
2002
           244,851
266
272
1,165
 
10/31/2017
 
1420 Greenwood Rd.
McDonough
GA
Versacold USA, Inc.
2000
           296,972
661
649
0
2018
6/30/2018
 
1650-1654 Williams Rd.
Columbus
OH
ODW Logistics, Inc.
1973
           772,450
337
336
0
 
9/30/2018
 
50 Tyger River Dr.
Duncan
SC
(6)
Plastic Omnium Exteriors, LLC
2005/2007/2008
           221,833
239
239
0
2019
10/17/2019
 
10345 Philipp Pkwy.
Streetsboro
OH
L'Oreal USA S/D, Inc. (L’Oreal USA, Inc.)
2004
           649,250
573
653
3,149
2020
3/31/2020
 
2425 Hwy. 77 North
Waxahachie
TX
James Hardie Building Products, Inc. (James Hardie, NV)
1996/2001
           335,610
850
850
0
 
6/30/2020
 
3102 Queen Palm Dr.
Tampa
FL
Time Customer Service, Inc. (Time, Inc.)
1986
           229,605
278
319
0
 
9/30/2020
 
3350 Miac Cove Rd.
Memphis
TN
Mimeo.com, Inc.
1987
           107,405
94
93
0
 
12/19/2020
 
1901 Ragu Dr.
Owensboro
KY
(12)
Unilever Supply Chain, Inc. (Unilever United States, Inc.)
1975/1979/1995
           443,380
262
374
1,802
2021
3/30/2021
 
121 Technology Dr.
Durham
NH
Heidelberg Web Systems, Inc.
1986/2002/2003
           500,500
517
500
0
 
3/31/2021
 
6050 Dana Way
Antioch
TN
W.M Wright Company
1999
           338,700
254
254
0
 
5/31/2021
 
477 Distribution Pkwy.
Collierville
TN
Federal Express Corporation
1984/1987/2005
           120,000
120
101
0
 
11/30/2021
 
2880 Kenny Biggs Rd.
Lumberton
NC
Quickie Manufacturing Corporation
1998/2001/2006
           423,280
314
339
0
 
12/31/2021
 
224 Harbor Freight Rd.
Dillon
SC
(6)
Harbor Freight Tools USA, Inc. (Central Purchasing, Inc.)
2001/2005
        1,010,859
745
773
0
2023
4/30/2023
 
3600 Southgate Dr.
Danville
IL
The Sygma Network, Inc. (Sysco Corporation)
2000/2008
           201,369
430
430
1,027
2025
6/30/2025
 
10000 Business Blvd.
Dry Ridge
KY
Dana Light Axle Products, LLC (Dana Limited)
1988/1999
           336,350
336
336
1,402
     
4010 Airpark Dr.
Owensboro
KY
Dana Structural Products, LLC (Dana Limited)
1998/2006
           211,598
302
302
829
     
301 Bill Bryan Rd.
Hopkinsville
KY
Dana Structural Products, LLC (Dana Limited)
1989/1999/2000/2005
           424,904
422
422
1,512
     
730 North Black Branch Rd.
Elizabethtown
KY
Dana Structural Products, LLC (Dana Limited)
2001
167,770
134
134
558
 
 
Page 18 of 46

 
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 03/31/09
 
Year of
Lease
Expiration
Date of
Lease
Expiration 
 
Property Location
City
State
Note
Primary Tenant (Guarantor)
Year
Built/Renovated/
Expanded
Sq.Ft. Leased
or Available (1)
Cash Rent
as of
3/31/2009
 ($000) (2)
GAAP
Base Rent
as of 
3/31/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
     
750 North Black Branch Rd.
Elizabethtown
KY
Dana Structural Products, LLC (Dana Limited)
1995/2000/2001
           539,592
710
710
2,960
 
7/31/2025
 
7005 Cochran Rd.
Glenwillow
OH
Royal Appliance Manufacturing Company
1997
           458,000
486
563
2,164
2026
10/31/2026
 
5001 Greenwood Rd.
Shreveport
LA
Libbey Glass, Inc. (Libbey, Inc.)
2006
           646,000
485
541
0
NA
NA
 
1109 Commerce Blvd.
Swedesboro
NJ
(Available for Lease)
1998
           262,644
0
0
0
     
1665 Hughes Way
Long Beach
CA
(11)
(Available for Lease)
1981
           200,541
0
0
0
     
191 Arrowhead Dr.
Hebron
OH
(Available for Lease)
1999
           147,450
0
0
0
     
250 Rittenhouse Cir.
Bristol
PA
(Available for Lease)
1983/1997
           255,019
0
0
0
     
3350 Miac Cove Rd.
Memphis
TN
(Available for Lease)
1987
             33,954
0
0
0
     
34 East Main St.
New Kingstown
PA
(Available for Lease)
1981
           179,200
0
0
0
     
46600 Port St.
Plymouth
MI
(Available for Lease)
1996
           134,160
0
0
0
     
6 Doughten Rd.
New Kingstown
PA
(Available for Lease)
1989
           330,000
0
0
0
     
6050 Dana Way
Antioch
TN
(Available for Lease)
1999
           338,700
0
0
0
INDUSTRIAL TOTAL/WEIGHTED AVERAGE
     
90.5% Leased
 
      19,857,450
 $            16,381
 $            16,842
 

 
Page 19 of 46

 

LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 03/31/09

Year of 
Lease 
Expiration
Date of 
Lease  
Expiration
 
Property Location
City
State
Note
Primary Tenant (Guarantor)
Year
Built/Renovated/
Expanded
Sq.Ft. Leased 
Or Available (1)
Cash Rent
as of
3/31/2009
($000) (2)
GAAP
Base Rent
as of
3/31/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
RETAIL PROPERTIES
                 
2009
9/30/2009
 
1032 Fort St. Mall
Honolulu
HI
Macy's Department Stores, Inc.
1979/2002
             85,610
247
243
990
 
12/31/2009
 
3468 Georgia Hwy. 120
Duluth
GA
Bank of America, NA (Bank of America Corporation)
1971
              9,300
33
38
133
     
4733 Hills & Dales Rd.
Canton
OH
Bally's Total Fitness of the Midwest (Bally's Health & Tennis Corporation)
1987
             37,214
112
99
0
2010
5/31/2010
 
24th St. West & St. John’s Ave.
Billings
MT
Safeway Stores, Inc.
1981
             40,800
47
83
186
 
7/1/2010
 
1600 East 23rd St.
Chattanooga
TN
BI-LO, LLC
1983
             42,130
32
32
134
2011
5/31/2011
 
18601 Alderwood Mall Blvd.
Lynnwood
WA
Toys “R” Us, Inc.
1981/1993
             43,105
70
75
279
     
4811 Wesley St.
Greenville
TX
Safeway Stores, Inc.
1985
             48,492
43
60
171
     
12535 Southeast 82nd Ave.
Clackamas
OR
Toys “R” Us, Inc.
1981
             42,842
76
81
298
     
6910 South Memorial Hwy.
Tulsa
OK
Toys “R” Us, Inc.
1981
             43,123
64
68
255
 
9/30/2011
 
928 First Ave.
Rock Falls
IL
Rock Falls Country Market, LLC (Rock Island Country Market, LLC)
1982
             27,650
23
24
140
 
12/29/2011
 
13133 Steubner Ave.
Houston
TX
The Kroger Company
1980
             52,200
70
101
281
2012
4/30/2012
 
10415 Grande Ave.
Sun City
AZ
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1982
             10,000
41
66
0
     
119 North Balboa Rd.
El Paso
TX
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1982
             10,000
41
34
0
     
402 East Crestwood Dr.
Victoria
TX
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1982
             10,000
41
29
0
     
4121 South Port Ave.
Corpus Christi
TX
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1980
             10,000
41
34
0
     
900 South Canal St.
Carlsbad
NM
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1980
             10,000
41
26
0
     
901 West Expwy.
McAllen
TX
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1980
             10,000
41
41
0
 
5/31/2012
 
3451 Alta Mesa Blvd.
Fort Worth
TX
Minyard Food Stores, Inc.
1985
             44,000
76
90
304
 
11/30/2012
 
101 West Buckingham Rd.
Garland
TX
Minyard Food Stores, Inc.
1982
             40,000
81
81
326
     
120 South Waco St.
Hillsboro
TX
Brookshire Grocery
1985
             35,000
40
47
161
     
1415 Hwy. 377 East
Granbury
TX
The Kroger Company
1982
             65,417
51
79
204
     
205 Homer Rd.
Minden
LA
Brookshire Grocery
1985
             35,000
48
71
193
2013
2/28/2013
 
US 221 & Hospital Rd.
Jefferson
NC
Food Lion, Inc.
1981
             23,000
18
18
73
     
104 Branchwood Shopping Center
Jacksonville
NC
Food Lion, Inc.
1982/1995
             23,000
21
28
84
     
291 Talbert Blvd.
Lexington
NC
Food Lion, Inc.
1981
             23,000
35
35
138
     
S. Carolina 52/52 Bypass
Moncks Corner
SC
Food Lion, Inc.
1982
             23,000
15
31
62
     
3211 West Beverly St.
Staunton
VA
Food Lion, Inc.
1971
             23,000
41
41
166
 
7/1/2013
 
1053 Mineral Springs Rd.
Paris
TN
The Kroger Company
1982
             31,170
40
53
159
     
302 Coxcreek Pkwy.
Florence
AL
The Kroger Company
1983
             42,130
56
78
223
 
10/31/2013
 
1084 East Second St.
Franklin
OH
Marsh Supermarkets, Inc.
1961/1978
             29,119
28
39
111
     
130 Midland Ave.
Port Chester
NY
Pathmark Stores, Inc.
1982
             59,000
115
299
458
     
5104 North Franklin Rd.
Lawrence
IN
Marsh Supermarkets, Inc.
1958
             28,721
48
48
193
     
3501 US 601 South
Concord
NC
Food Lion, Inc.
1983
             32,259
49
49
197
     
2526 Little Rock Road
Charlotte
NC
Food Lion, Inc.
1982/1997
             33,640
24
38
98
2014
3/31/2014
 
N.E.C. 45th St./Lee Blvd.
Lawton
OK
Associated Wholesale Grocers, Inc.
1984
             30,757
83
19
185
 
12/31/2014
 
1066 Main St.
Forest Park
GA
Bank of America, NA (Bank of America Corporation)
1969
             14,859
50
47
199
     
201 West Main St.
Cumming
GA
Bank of America, NA (Bank of America Corporation)
1968/1982
             14,208
50
72
198
     
2223 North Druid Hills Rd.
Atlanta
GA
Bank of America, NA (Bank of America Corporation)
1972
              6,260
28
24
112
     
4545 Chamblee – Dunwoody Rd.
Chamblee
GA
Bank of America, NA (Bank of America Corporation)
1972
              4,565
22
19
88
     
825 Southway Dr.
Jonesboro
GA
Bank of America, NA (Bank of America Corporation)
1971
              4,894
19
16
77
     
956 Ponce de Leon Ave.
Atlanta
GA
Bank of America, NA (Bank of America Corporation)
1975
              3,900
20
22
78
     
1698 Mountain Industrial Blvd.
Stone Mountain
GA
Bank of America, NA (Bank of America Corporation)
1973
              5,704
24
22
95
2015
1/25/2015
 
3711 Gateway Dr.
Eau Claire
WI
Kohl's Department Stores, Inc.
1994
             76,164
117
116
487

 
Page 20 of 46

 

LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 03/31/09

Year of 
Lease 
Expiration
Date of 
Lease  
Expiration
 
Property Location
City
State
Note
Primary Tenant (Guarantor)
Year
Built/Renovated/
Expanded
Sq.Ft. Leased
or Available (1)
Cash Rent
as of
3/31/2009
($000) (2)
GAAP
Base Rent
as of
3/31/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
 
1/31/2015
 
1700 State Route 160
Port Orchard
WA
Save-A-Lot, Ltd.
1983
             16,037
20
20
97
2017
3/31/2017
 
1610 South Westmoreland Ave.
Dallas
TX
Malone’s Food Stores
1960
             68,024
90
120
376
2018
2/26/2018
 
4831 Whipple Ave., Northwest
Canton
OH
Best Buy Company, Inc.
1995
             46,350
116
116
465
     
399 Peachwood Centre Dr.
Spartanburg
SC
Best Buy Company, Inc.
1996
             45,800
99
99
395
 
9/30/2018
 
835 Julian Ave.
Thomasville
NC
Mighty Dollar, LLC
1983
             23,767
17
17
0
 
10/31/2018
 
10340 U.S. 19
Port Richey
FL
Kingswere Furniture
1980
             53,280
164
164
400
 
12/31/2018
 
1150 West Carl Sandburg Dr.
Galesburg
IL
Kmart Corporation
1992
             94,970
21
82
0
     
12080 Carmel Mountain Rd.
San Diego
CA
Sears Holding Corporation
1993
           107,210
24
188
0
     
21082 Pioneer Plaza Dr.
Watertown
NY
Kmart Corporation
1993
           120,727
35
120
0
     
255 Northgate Dr.
Manteca
CA
Kmart Corporation
1993
           107,489
37
139
0
     
5350 Leavitt Rd.
Lorain
OH
Kmart Corporation
1993
           193,193
53
183
0
     
97 Seneca Trail
Fairlea
WV
Kmart Corporation
1993/1999
             90,933
25
87
0
2021
1/31/2021
 
3040 Josey Ln.
Carrollton
TX
Ong’s Family, Inc.
1984
             61,000
65
101
0
2028
1/31/2028
 
2010 Apalachee Pkwy.
Tallahassee
FL
Kohl's Department Stores, Inc.
2007
           102,381
100
105
484
 
8/31/2028
 
9803 Edmonds Way
Edmonds
WA
PCC Natural Markets
1981
             34,459
151
150
0
NA
NA
 
1700 State Route 160
Port Orchard
WA
(Available for Lease)
1983
             11,931
0
0
0
     
2500 E. Carrier Pkwy.
Grand Prairie
TX
(7)
(Available for Lease) (Prior tenant Grocer's Supply)
1984
             49,349
124
93
0
     
35400 Cowan Rd.
Westland
MI
(7)
(Available for Lease)(Prior tenant Sam’s Real Estate Business Trust)
1987/1997
           101,402
63
63
0
     
5402 4th St.
Lubbock
TX
(Available for Lease)
1978
             53,820
0
0
0
     
5544 Atlanta Hwy.
Montgomery
AL
(Available for Lease)
1980/2007
             60,698
0
0
0
     
9400 South 755 East
Sandy
UT
(Available for Lease)
1981
             41,612
0
0
0
     
811 US Hwy. 17
North Myrtle Beach
SC
(Available for Lease)
1981
             41,021
0
0
0
 
RETAIL TOTAL/WEIGHTED AVERAGE
     
87.2% Leased
 
        2,809,686
                3,466
                4,463
 
                 
 
     
 
TOTAL CONSOLIDATED PORTFOLIO/WEIGHTED AVERAGE
 
92.15% Leased
 
      40,069,079
              84,555
               88,586
 

Footnotes
(1)    Square foot leased or vacant.
(2)    Three months ended 03/31/09 cash rent.
(3)    Three months ended 03/31/09 GAAP base rent.
(4)    Rent at option rate listed for those lease contracts where a set rent in dollars is specified, as it relates to Fixed Rent at Next Option.
(5)    Lesser of the noted rent or a function of fair market value such as 100%, 95%, or 90%.
(6)    Greater of the noted rent or a function of fair market value such as 100%, 95%, or 90%.
(7)    Rents from tenants prior to expiration of lease, prior tenant has vacated.
(8)    Lease entered into with new tenant effective 11/1/09 and now expires 01/2020.
(9)    Lexington has a 0.01% interest in this property.
(10)  Lexington has a 81.5% interest in this property.
(11)   Lexington has a 55.0% interest in this property.
(12)  Lexington has a 71.1% interest in this property.
(13)  Lexington has a 64.4% interest in this property.
(14)  Lexington has a 57.8% interest in this property.

 
Page 21 of 46

 
Property Leases and Vacancies -  Net Lease Strategic Assets Fund Portfolio - 03/31/09
                         
Year of Lease Expiration
Date of Lease
Expiration
 
Property Location
City
State
Note
Primary Tenant (Guarantor)
Year Built/Renovated/
Expanded
Sq.Ft. Leased
or Available
(1)
Cash Rent
as of
3/31/2009
($000) (2)
GAAP
Base Rent
as of
3/31/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
NET LEASE STRATEGIC ASSETS FUND PROPERTIES
                 
2009
9/30/2009
 
109 Stevens St.
Jacksonville
FL
(5)
Unisource Worldwide, Inc.
1959/1967
168,800
159
146
0
2010
10/31/2010
 
265 Lehigh St.
Allentown
PA
Wachovia Bank, NA
1980
           71,230
62
143
261
     
5201 West Barraque St.
Pine Bluff
AR
Entergy Services, Inc.
1964/1973
27,189
48
48
192
2011
5/31/2011
 
1200 Jupiter Rd.
Garland
TX
Raytheon Company
1980
278,759
377
513
1,588
 
7/15/2011
 
19019 North 59th Ave.
Glendale
AZ
Honeywell International, Inc.
1986/1997/2000
252,300
613
777
0
2012
4/30/2012
 
3600 Army Post Rd.
Des Moines
IA
(6)
Electronic Data Systems, LLC
2002
         405,000
713
742
0
 
5/31/2012
 
101 Creger Dr.
Ft. Collins
CO
Lithia Motors
1982
10,000
69
59
0
2013
5/31/2013
 
2401 Cherahala Blvd.
Knoxville
TN
Advance PCS, Inc.
2002
59,748
225
225
0
 
6/30/2013
 
420 Riverport Rd.
Kingsport
TN
Kingsport Power Company
1981
           42,770
77
77
310
     
8555 South River Pkwy.
Tempe
AZ
(6)
ASM Lithography, Inc. (ASM Lithography Holding, NV)
1998
           95,133
589
553
0
 
10/14/2013
 
3943 Denny Ave.
Pascagoula
MS
Northrop Grumman Systems Corporation
1995
           94,841
159
159
0
 
12/31/2013
 
120 Southeast Pkwy. Dr.
Franklin
TN
Essex Group, Inc. (United Technologies Corporation)
1970/1983
         289,330
184
163
735
2014
1/31/2014
 
1401 & 1501 Nolan Ryan Pkwy.
Arlington
TX
Siemens Dematic Postal Automation, LP
2003
         236,547
656
670
0
 
4/30/2014
 
12000 & 12025 Tech Center Dr.
Livonia
MI
(6)
Kelsey-Hayes Company (TRW Automotive, Inc.)
1987/1988/1990
         180,230
497
518
0
 
6/30/2014
 
70 Mechanic St.
Foxboro
MA
Invensys Systems, Inc. (Siebe, Inc.)
1965/1967/1971
251,914
1,584
1,481
2,817
 
12/31/2014
 
324 Industrial Park Rd.
Franklin
NC
(5)
SKF USA, Inc.
1996
72,868
106
106
0
2015
6/30/2015
 
1901 49th Ave.
Minneapolis
MN
(5)
Owens Corning Roofing and Asphalt, LLC
2003
18,620
147
147
0
     
2935 Van Vactor Dr.
Plymouth
IN
Bay Valley Foods, LLC
2000/2003
300,500
195
202
853
     
3711 San Gabriel
Mission
TX
VoiceStream PCS II Corporation (T-Mobile USA, Inc.)
2003
75,016
225
255
0
     
2500 Patrick Henry Pkwy.
McDonough
GA
Georgia Power Company
1999
         111,911
369
384
0
 
9/27/2015
 
9110 Grogans Mill Rd.
Houston
TX
Baker Hughes, Inc.
1992
275,750
73
787
0
     
2529 West Thorne Dr.
Houston
TX
Baker Hughes, Inc.
1982/1999
66,243
20
209
0
2016
1/31/2016
 
1600 Eberhardt Rd.
Temple
TX
Nextel of Texas
2001
108,800
381
404
0
 
5/14/2016
 
6455 State Hwy. 303 Northeast
Bremerton
WA
Nextel West Corporation
2002
           60,200
271
291
0
 
9/30/2016
 
1440 East 15th St.
Tucson
AZ
Cox Communications, Inc.
1988
28,591
122
139
0
 
11/30/2016
 
736 Addison Rd.
Erwin
NY
(6)
Corning, Inc.
2006
408,000
287
287
0
2017
12/31/2017
 
11411 North Kelly Ave.
Oklahoma City
OK
American Golf Corporation
1991/1996
           13,924
119
120
0
2018
3/15/2018
 
601 & 701 Experian Pkwy.
Allen
TX
Experian Information Solutions, Inc. (Experian North America)
1981/1983
292,700
768
932
0
 
8/31/2018
 
3500 North Loop Rd.
McDonough
GA
Litton Loan Servicing, LP
2007
           62,218
280
280
0
 
9/30/2018
 
904 Industrial Rd.
Marshall
MI
Tenneco Automotive Operating Company, Inc. (Tenneco, Inc.)
1968/1972
         246,508
191
201
925
2019
1/31/2019
 
2999 Southwest 6th St.
Redmond
OR
VoiceStream PCS I, LLC (T-Mobile USA, Inc.)
2004
           77,484
359
393
0
 
6/28/2019
 
3265 East Goldstone Dr.
Meridian
ID
(6)
VoiceStream PCS Holding, LLC  (T-Mobile USA, Inc.)
2004
           77,484
310
341
0
 
10/31/2019
 
17191 St. Luke's Way
The Woodlands
TX
Montgomery County Management Company, LLC
2004
41,000
199
246
0
     
9601 Renner Blvd.
Lenexa
KS
(6)
VoiceStream PCS II Corporation (T-Mobile USA, Inc.)
2004
77,484
317
348
0
 
Page 22 of 46

 
Property Leases and Vacancies -  Net Lease Strategic Assets Fund Portfolio - 03/31/09
                         
Year of Lease Expiration
Date of
Lease
Expiration
 
Property Location
City
State
Note
Primary Tenant (Guarantor)
Year Built/Renovated/
Expanded
Sq.Ft. Leased or Available (1)
Cash Rent
as of
3/31/2009
($000) (2)
GAAP
Base Rent
as of
3/31/2009
($000) (3)
Fixed Rent
at
Next Option ($000) (4)
2020
5/31/2020
 
359 Gateway Dr.
Lavonia
GA
TI Group Automotive Systems, LLC (TI Automotive Ltd.)
2005
133,221
300
300
0
 
6/30/2020
 
10419 North 30th St.
Tampa
FL
Time Customer Service, Inc.
1986
132,981
314
339
0
 
8/31/2020
 
First Park Dr.
Oakland
ME
(6)
Omnipoint Holdings, Inc. (T-Mobile USA, Inc.)
2005
78,610
314
287
0
 
11/30/2020
 
11555 University Blvd.
Sugar Land
TX
KS Management Services, LLP (St. Luke’s Episcopal Health System Corporation)
2005
72,683
279
313
0
2021
10/25/2021
 
6938 Elm Valley Dr.
Kalamazoo
MI
Dana Commercial Vehicle Products, LLC (Dana Limited)
1999/2004
150,945
461
483
0
2025
7/14/2025
 
590 Ecology Ln.
Chester
SC
Owens Corning, Inc.
2001/2005
420,597
546
542
1,678
2026
8/31/2026
 
25500 State Hwy. 249
Tomball
TX
Parkway Chevrolet, Inc. (R. Durdin, J. Durdin)
2005
           77,076
319
377
0
2027
4/30/2027
 
2424 Alpine Rd.
Eau Claire
WI
(6)
Silver Spring Gardens, Inc. (Huntsinger Farms, Inc.)
1993/2004
159,000
233
293
0
 
NET LEASE STRATEGIC ASSETS FUND TOTAL/WEIGHTED AVERAGE
 
100.0% Leased
 
       6,104,205
 $       13,517
 $          15,280
 

Footnotes
(1)    Square foot leased or vacant.
(2)   Three months ended 03/31/09 cash rent.
(3)   Three months ended 03/31/09 GAAP base rent.
(4)    Rent at option rate listed for those lease contracts where a set rent in dollars is specified, as it relates to Fixed Rent at Next Option.
(5)    Lesser of the noted rent or a function of fair market value such as 100%, 95%, or 90%.
(6)    Greater of the noted rent or a function of fair market value such as 100%, 95%, or 90%.

Page 23 of 46


LEXINGTON REALTY TRUST
Lease Rollover Schedule by Property Type - Cash Basis
3/31/2009

   
Office
   
Industrial
   
Retail
 
Year
 
Net Rentable
Area
   
Cash Rent 
as of 
3/31/2009 
($000)
   
Net Rent
PSF
   
Net Rentable
Area
   
Cash Rent 
as of 
3/31/2009 
($000)
   
Net Rent
PSF
   
Net
Rentable
Area
   
Cash Rent 
as of 
3/31/2009 
($000)
   
Net Rent
PSF
 
2009
    1,257,759     $ 4,877     $ 15.51       555,482     $ 360     $ 2.59       132,124     $ 392     $ 11.87  
2010
    751,184     $ 3,944     $ 21.00       1,460,468     $ 998     $ 2.73       82,930     $ 79     $ 3.81  
2011
    432,762     $ 2,173     $ 20.08       1,309,835     $ 1,170     $ 3.57       257,412     $ 346     $ 5.38  
2012
    1,534,805     $ 5,589     $ 14.57       2,450,703     $ 2,113     $ 3.45       279,417     $ 542     $ 7.76  
2013
    1,909,600     $ 7,024     $ 14.71       79,086     $ 115     $ 5.82       371,039     $ 490     $ 5.28  
2014
    2,357,135     $ 10,270     $ 17.43       882,292     $ 570     $ 2.58       85,147     $ 296     $ 13.91  
2015
    1,859,851     $ 4,696     $ 10.10       150,000     $ 113     $ 3.01       92,201     $ 137     $ 5.94  
2016
    667,239     $ 2,495     $ 14.96       1,296,650     $ 1,441     $ 4.45      
-
    $
-
    $
-
 
2017
    353,652     $ 1,364     $ 15.43       1,652,811     $ 1,613     $ 3.90       68,024     $ 90     $ 5.29  
2018
    1,207,224     $ 4,807     $ 15.93       994,283     $ 576     $ 2.32       883,719     $ 591     $ 2.68  
2019
    1,532,883     $ 4,901     $ 12.79       649,250     $ 573     $ 3.53      
-
    $
-
    $
-
 
2020
    379,865     $ 1,578     $ 16.62       1,116,000     $ 1,484     $ 5.32      
-
    $
-
    $
-
 
2021
    605,471     $ 2,511     $ 16.59       2,393,339     $ 1,950     $ 3.26       61,000     $ 65     $ 4.26  
2022
    52,337     $ 383     $ 29.27      
-
    $
-
    $
-
     
-
    $
-
    $
-
 
2023
    425,254     $ 1,396     $ 13.13       201,369     $ 430     $ 8.54      
-
    $
-
    $
-
 
2024
   
-
    $
-
    $
-
     
-
    $
-
    $
-
     
-
    $
-
    $
-
 
2025
    145,200     $ 574     $ 15.81       2,138,214     $ 2,390     $ 4.47      
-
    $
-
    $
-
 
2026
   
-
 
  $
-
    $
-
      646,000     $ 485     $ 3.00      
-
    $
-
    $
-
 
2027
   
-
    $
-
    $
-
     
-
    $
-
    $
-
     
-
    $
-
    $
-
 
2028
   
-
    $
-
    $
-
     
-
    $
-
    $
-
      136,840     $ 251     $ 7.34  
                                                                         
Total/Weighted Average (1)
    15,472,221     $ 58,582     $ 15.15       17,975,782     $ 16,381     $ 3.65       2,449,859     $ 3,279     $ 5.35  

Footnotes
(1) Total shown may differ from detailed amounts due to rounding, and does not include multi-tenant properties.

 
Page 24 of 46

 

LEXINGTON REALTY TRUST
Lease Rollover Schedule - GAAP Basis
3/31/2009

Year
 
Number of
Leases
Expiring
   
GAAP Base
Rent as of
03/31/2009
($000)
   
Percent of
GAAP Base Rent
as of
3/31/2009
 
2009
   
14
    $ 5,508      
6.7%
 
2010
   
13
    $ 5,056      
6.2%
 
2011
   
15
    $ 3,727      
4.5%
 
2012
   
29
    $ 8,104      
9.9%
 
2013
   
28
    $ 8,116      
9.9%
 
2014
   
28
    $ 10,945      
13.3%
 
2015
   
14
    $ 6,511      
7.9%
 
2016
   
12
    $ 3,890      
4.7%
 
2017
   
9
    $ 3,263      
4.0%
 
2018
   
21
    $ 7,272      
8.9%
 
2019
   
9
    $ 5,727      
7.0%
 
2020
   
7
    $ 3,101      
3.8%
 
2021
   
10
    $ 4,537      
5.5%
 
2022
   
1
    $ 415      
0.5%
 
2023
   
3
    $ 2,144      
2.6%
 
2024
   
-
    $ -      
0.0%
 
2025
   
8
    $ 3,041      
3.7%
 
2026
   
1
    $ 541      
0.7%
 
2027
   
-
    $ -      
0.0%
 
2028
   
2
    $ 255      
0.3%
 
Total (1)
   
224
    $ 82,153      
100.0%
 
                         
Footnotes                        
(1) Total shown may differ from detailed amounts due to rounding, and does not include multi-tenant properties.

 
Page 25 of 46

 

2009 First Quarter Financing Summary

 
NEW CORPORATE LEVEL FINANCING
               
     
Amount 
($000)
     
Rate
   
Maturity
         
1
Secured Term Loan (1)
  $ 165,000      
LIBOR + 285bps
     
02/2011
         
2
Secured Line of Credit (1)(2)
  $ 85,000      
LIBOR + 285bps
     
02/2011
         
2
TOTAL FINANCING
  $ 250,000                          

 
DEBT RETIRED
                       
     
Face 
($000)
   
Payoff 
($000)
   
Rate
   
Due Date
 
1
Exchangeable Guaranteed Notes
  $ 22,500     $ 14,830       5.45 %    
01/2012
 
2
Secured Term Loan
  $ 174,280     $ 174,280    
LIBOR + 60bps
   
06/2009
 
3
Unsecured Line of Credit
  $ 25,000     $ 25,000    
LIBOR + 120 to 170 bps
   
06/2009
 
4
Bristol, PA
  $ 5,259     $ 5,259       7.25 %    
04/2009
 
4
TOTAL RETIRED
  $ 227,039     $ 219,369                  

Footnotes
(1) Secured by a borrowing base pool of 72 properties, maturity can be extended to 02/2012.
(2) $35,000 outstanding at 3/31/09.

 
Page 26 of 46

 

LEXINGTON REALTY TRUST
Mortgage Maturity Schedule
3/31/2009
($000)

Consolidated Properties
 
Year
 
Real Estate
Scheduled
Amortization
   
Real Estate
Balloon Payments
   
Corporate Debt
 
2009
  $ 22,569     $ 55,068     $
-
 
2010
    34,489       110,577      
-
 
2011
    31,094       86,615       200,000  
2012
    31,146       191,034       188,500  
2013
    27,081       234,937       60,723  
    $ 146,379     $ 678,231     $ 449,223  
 
 
 
Non-Consolidated Investments - LXP Proportionate Share
 
Year
 
Real Estate
Scheduled
Amortization
   
Real Estate
Balloon Payments
   
Concord
Balloon Payments
 
2009
  $ 2,779     $ 9,034     $ 10,758  
2010
    2,881       1,140       39,650  
2011
    2,941       6,903       79,738  
2012
    3,042       3,323       29,807  
2013
    3,217       2,496      
-
 
    $ 14,860     $ 22,896     $ 159,953  

 
Page 27 of 46

 

LEXINGTON REALTY TRUST
2009 Mortgage Maturities by Property Type
3/31/2009

   
Property Location
City
State
 
Net Rentable
Area
   
Mortgage Balance
at Maturity
($000)
   
Maturity Date
   
Original Gross
Book Value
($000) (1)
   
Cash Rent
as of
3/31/2009
($000)
   
GAAP
Base Rent
as of
3/31/2009
($000)
 
Office
 
15375 Memorial Dr.
Houston
TX
    349,674     $ 18,229      
10/2009
    $ 45,792     $ 900     $ 1,063  
   
255 California St. (4)
San Francisco
CA
    173,447     $ 20,000      
12/2009
    $ 53,989     $ 909     $ 947  
   
295 Chipeta Way
Salt Lake City
UT
    295,000     $ -      
10/2009
    $ 55,404     $ 1,580     $ 1,580  
   
5724 West Las Positas Blvd. (4)
Pleasanton
CA
    40,914     $ 3,808      
12/2009
    $ 6,544     $ 207     $ 170  
Industrial
 
1133 Poplar Creek Rd. (3)
Henderson
NC
    196,946     $ 3,854      
05/2009
    $ 7,442     $ 206     $ 202  
   
250 Swathmore Ave.
High Point
NC
    244,851     $ 7,741      
10/2009
    $ 13,248     $ 266     $ 272  
   
7150 Exchequer Dr. (2)
Baton Rouge
LA
    79,086     $ 1,436      
07/2009
    $ 4,001     $ 115     $ 110  
Retail
 
35400 Cowan Rd.
Westland
MI
    101,402     $ -      
09/2009
    $ 7,221     $ 63     $ 63  
                                                         
   
Total 2009 Mortgage Maturities
      1,481,320     $ 55,068             $ 193,641     $ 4,246     $ 4,407  

Footnotes
(1) Represents original GAAP capitalized costs.
(2) Neither the lender nor Lexington, elected to call/put debt at 3/1/09. Earliest call/put date is currently 7/1/09.
(3) Mortgage satisfied subsequent to March 31, 2009.
(4) Properties are in a partnership that is a variable interest entity (VIE) that is consolidated with our operations as we are the primary beneficiary of the VIE, however, mortgage debt will be satisfied with partnership assets only. Our ownership interest is 0.01%.

 
Page 28 of 46

 

LEXINGTON REALTY TRUST
2010 Mortgage Maturities by Property Type
3/31/2009

   
Property Location
City
State
 
Net Rentable
Area
   
Mortgage Balance
at Maturity
($000)
   
Maturity Date
   
Original Gross
Book Value
($000) (1)
   
Cash Rent
as of
3/31/2009
($000)
   
GAAP
Base Rent
as of
3/31/2009
($000)
 
Office
 
10300 Kincaid Dr.
Fishers
IN
   
193,000
    $ 12,960      
04/2010
    $ 28,639     $ 846     $ 694  
   
13651 McLearen Rd.
Herndon
VA
   
159,664
    $ 17,301      
12/2010
    $ 27,621     $ 738     $ 846  
   
400 Butler Farm Rd.
Hampton
VA
   
100,632
    $ 6,758      
04/2010
    $ 11,964     $ 302     $ 310  
   
421 Butler Farm Rd.
Hampton
VA
   
56,515
    $ 4,144      
04/2010
    $ 6,800     $ 195     $ 180  
   
550 Business Center Dr.
Lake Mary
FL
   
125,920
    $ 12,082      
10/2010
    $ 23,958     $ 762     $ 436  
   
600 Business Center Dr.
Lake Mary
FL
   
125,155
    $ 12,118      
10/2010
    $ 23,846     $ 787     $ 415  
   
6555 Sierra Dr.
Irving
TX
   
247,254
    $ 24,454      
10/2010
    $ 46,661     $ 518     $ 738  
   
9950 Mayland Dr.
Richmond
VA
   
288,000
    $ 15,257      
02/2010
    $ 19,217     $ -     $ -  
Industrial
 
3102 Queen Palm Dr.
Tampa
FL
   
229,605
    $ 5,503      
08/2010
    $ 9,632     $ 278     $ 319  
Retail
 
1150 West Carl Sandburg Dr.
Galesburg
IL
   
94,970
    $ -      
07/2010
    $ 2,884     $ 21     $ 82  
   
12080 Carmel Mountain Rd.
San Diego
CA
   
107,210
    $ -      
07/2010
    $ 5,463     $ 24     $ 188  
   
21082 Pioneer Plaza Dr.
Watertown
NY
   
120,727
    $ -      
07/2010
    $ 5,316     $ 35     $ 120  
   
255 Northgate Dr.
Manteca
CA
   
107,489
    $ -      
07/2010
    $ 6,509     $ 37     $ 139  
   
5350 Leavitt Rd.
Lorain
OH
   
193,193
    $ -      
07/2010
    $ 8,513     $ 53     $ 183  
   
97 Seneca Trail
Fairlea
WV
   
90,933
    $ -      
07/2010
    $ 3,360     $ 25     $ 87  
                                                         
   
Total 2010 Mortgage Maturities
       
2,240,267
    $ 110,577             $ 230,383     $ 4,621     $ 4,737  

Footnotes
(1) Represents original GAAP capitalized costs.

 
Page 29 of 46

 

LEXINGTON REALTY TRUST
2011 Mortgage Maturities by Property Type
3/31/2009

   
Property Location
City
State
 
Net Rentable
Area
   
Mortgage Balance
at Maturity
($000)
   
Maturity Date
   
Original Gross
Book Value
($000) (1)
   
Cash Rent
as of
3/31/2009
($000)
   
GAAP
Base Rent
as of
3/31/2009
($000)
 
Office
 
100 Barnes Rd.
Wallingford
CT
   
44,400
    $ 3,187      
05/2011
    $ 5,525     $ 164     $ 151  
   
15/17 Nijborg
Renswoude
The Netherlands
   
131,805
    $ 32,535      
04/2011
    $ 42,818     $ 819     $ 671  
   
389-399 Interpace Hwy.
Parsippany
NJ
   
340,240
    $ 37,047      
03/2011
    $ 106,602     $ 2,306     $ 2,263  
Industrial
 
291 Park Center Dr.
Winchester
VA
   
344,700
    $ 9,675      
08/2011
    $ 18,865     $ 402     $ 394  
   
46600 Port St.
Plymouth
MI
   
134,160
    $ 4,171      
07/2011
    $ 7,663     $ -     $ -  
                                                         
   
Total 2011 Mortgage Maturities
     
995,305
    $ 86,615             $ 181,473     $ 3,691     $ 3,479  

Footnotes
(1) Represents original GAAP capitalized costs.

 
Page 30 of 46

 

LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
3/31/2009

Property
 
Footnotes
 
Debt Balance
($000)
   
Interest Rate
(%)
   
Maturity (a)
   
Current
Estimated
Annual Debt
Service
($000) (d)
   
Balloon
Payment
($000)
 
Henderson, NC
      $ 3,854       7.390 %    
05/2009
    $
-
    $ 3,854  
Baton Rouge, LA
 
(m)
    1,462       7.375 %    
07/2009
      53       1,436  
Westland, MI
        331       10.500 %    
09/2009
      340      
-
 
Houston, TX
 
(b)
    18,653       6.400 %    
10/2009
      1,185       18,229  
High Point, NC
        7,846       5.750 %    
10/2009
      326       7,741  
Salt Lake City, UT
        1,410       7.610 %    
10/2009
      1,451      
-
 
San Francisco, CA
        20,875       3.893 %    
12/2009
      1,407       20,000  
Pleasanton, CA
        4,023       10.250 %    
12/2009
      484       3,808  
Richmond, VA
 
(f)
    15,458       8.100 %    
02/2010
      1,366       15,257  
Fishers, IN
 
(b)
    13,593       6.516 %    
04/2010
      1,499       12,960  
Hampton, VA
        6,856       8.270 %    
04/2010
      621       6,758  
Hampton, VA
        4,209       8.260 %    
04/2010
      415       4,144  
Lorain, OH
 
(b)
    1,204       5.540 %    
07/2010
      873      
-
 
Manteca, CA
 
(b)
    851       5.540 %    
07/2010
      617      
-
 
Watertown, NY
 
(b)
    800       5.540 %    
07/2010
      580      
-
 
Lewisburg, WV
 
(b)
    562       5.540 %    
07/2010
      407      
-
 
San Diego, CA
 
(b)
    542       5.540 %    
07/2010
      393      
-
 
Galesburg, IL
 
(b)
    477       5.540 %    
07/2010
      346      
-
 
Tampa, FL
        5,631       6.880 %    
08/2010
      485       5,503  
Irving, TX
 
(b)
    25,530       6.587 %    
10/2010
      2,432       24,454  
Lake Mary, FL
 
(b)
    12,660       6.502 %    
10/2010
      1,181       12,118  
Lake Mary, FL
 
(b)
    12,623       6.502 %    
10/2010
      1,178       12,082  
Herndon, VA
        17,742       8.180 %    
12/2010
      1,723       17,301  
Parsippany, NJ
 
(b)
    38,992       6.349 %    
03/2011
      3,472       37,047  
Renswoude, NA
        34,135       5.305 %    
04/2011
      2,615       32,535  
Wallingford, CT
        3,303       4.926 %    
05/2011
      221       3,187  
Plymouth, MI
        4,348       7.960 %    
07/2011
      421       4,171  
Winchester, VA
 
(b)
    10,311       6.346 %    
08/2011
      908       9,675  
Louisville, CO
        7,494       5.830 %    
01/2012
      544       7,195  
New Kingston, PA
        6,594       7.790 %    
01/2012
      678       6,116  
Mechanicsburg, PA
        4,867       7.780 %    
01/2012
      500       4,514  
New Kingston, PA
        3,142       7.780 %    
01/2012
      323       2,914  
Milford, OH
 
(b)
    15,171       6.612 %    
02/2012
      1,822       12,686  
Lake Forest, CA
        10,170       7.260 %    
02/2012
      901       9,708  
Fort Worth, TX
 
(b)
    18,688       5.392 %    
05/2012
      1,280       17,829  
Memphis, TN
        17,100       5.247 %    
05/2012
      1,181       16,222  
Raleigh, NC
 
(b)
    12,673       5.584 %    
05/2012
      647       12,543  
Lakewood, CO
        8,339       5.097 %    
05/2012
      566       7,890  
Farmington Hills, MI
 
(b)
    19,147       5.723 %    
09/2012
      1,500       17,724  
Laurens, SC
 
(b)
    15,729       5.911 %    
09/2012
      1,396       14,022  
Temperance, MI
 
(b)
    10,544       5.912 %    
09/2012
      936       9,400  
Baton Rouge, LA
 
(b)
    6,340       5.333 %    
10/2012
      443       5,948  
San Antonio, TX
        28,073       6.080 %    
10/2012
      2,260       26,025  
Plymouth, MI
 
(b)
    11,433       5.964 %    
12/2012
      1,026       10,026  
Colorado Springs, CO
 
(b)
    11,128       5.996 %    
12/2012
      887       10,272  
Fort Mill, SC
        10,676       6.000 %    
01/2013
      839       9,904  
Centennial, CO
 
(b)
    14,933       5.724 %    
02/2013
      1,177       13,555  
Los Angeles, CA
 
(b)
    77,027       5.734 %    
05/2013
      5,361       73,071  

 
Page 31 of 46

 
 
LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
3/31/2009
Property
 
Footnotes
 
Debt Balance
($000)
   
Interest Rate
(%)
   
Maturity (a)
   
Current
Estimated
Annual Debt
Service
($000) (d)
   
Balloon
Payment
($000)
 
Atlanta, GA
        43,399       5.268 %    
05/2013
      3,004       40,356  
Dallas, TX
 
(b)
    38,915       5.452 %    
05/2013
      2,702       36,466  
Houston, TX
        16,956       5.218 %    
05/2013
      1,166       15,737  
Southington, CT
        13,192       5.018 %    
05/2013
      890       12,228  
Indianapolis, IN
        9,239       5.168 %    
05/2013
      633       8,580  
Fort Meyers, FL
        8,912       5.268 %    
05/2013
      476       8,550  
Phoenix, AZ
        18,356       6.270 %    
09/2013
      1,527       16,490  
Foxboro, MA
 
(b)
    13,902       6.000 %    
01/2014
      3,369      
-
 
Moody, AL
        7,076       4.978 %    
01/2014
      493       6,350  
Logan Township, NJ
 
(b)
    7,226       5.545 %    
04/2014
      482       6,784  
Clive, IA
        5,673       5.139 %    
05/2014
      387       5,151  
Fort Mill, SC
        19,900       5.373 %    
05/2014
      1,364       18,311  
Philadelphia, PA
        47,852       5.060 %    
07/2014
      3,178       43,547  
Eau Claire, WI
        1,339       8.000 %    
07/2014
      313      
-
 
Columbus, IN
 
(i)
    25,831       6.150 %    
09/2014
      1,611       25,831  
Las Vegas, NV
 
(i)
    31,427       6.150 %    
09/2014
      1,960       31,427  
Memphis, TN
 
(i)
    46,253       6.150 %    
09/2014
      2,884       46,253  
Issaquah, WA
 
(b)
    31,767       5.665 %    
12/2014
      1,712       30,388  
Canonsburg, PA
 
(b)
    9,074       5.426 %    
12/2014
      489       9,095  
Chicago, IL
 
(b)
    29,113       5.639 %    
01/2015
      1,548       29,900  
Carrollton, TX
        13,634       5.530 %    
01/2015
      993       12,022  
Herndon, VA
 
(b)
    11,701       5.885 %    
04/2015
      888       10,359  
Richmond, VA
 
(b)
    19,528       5.377 %    
05/2015
      1,026       18,321  
Houston, TX
        16,272       5.160 %    
05/2015
      1,114       14,408  
Rockaway, NJ
        14,900       5.292 %    
05/2015
      799       14,900  
Houston, TX
        12,709       5.210 %    
05/2015
      874       11,265  
Fishers, IN
        12,635       5.160 %    
05/2015
      865       11,188  
San Antonio, TX
        12,547       5.340 %    
05/2015
      875       11,149  
Atlanta, GA
        11,325       5.260 %    
05/2015
      604       10,502  
Los Angeles, CA
        11,018       5.110 %    
05/2015
      750       9,760  
Richmond, VA
        10,193       5.310 %    
05/2015
      708       9,055  
Harrisburg, PA
        8,795       5.110 %    
05/2015
      599       7,780  
Knoxville, TN
        7,495       5.310 %    
05/2015
      520       6,658  
Tulsa, OK
        7,363       5.060 %    
05/2015
      499       6,517  
Carrollton, TX
 
(b)
    20,250       5.725 %    
07/2015
      1,382       18,710  
Elizabethtown, KY
 
(j)
    15,362       4.990 %    
07/2015
      1,048       13,436  
Hopkinsville, KY
        9,005       4.990 %    
07/2015
      614       7,880  
Dry Ridge, KY
 
(o)
    6,642       4.990 %    
07/2015
      453       5,813  
Owensboro, KY
 
(o)
    5,911       4.990 %    
07/2015
      403       5,173  
Elizabethtown, KY
 
(j)
    2,898       4.990 %    
07/2015
      198       2,536  
Houston, TX
 
(b)
    52,318       6.250 %    
09/2015
      8,336       18,161  
Sugar Land, TX
 
(b)
    13,562       6.250 %    
09/2015
      2,127       6,286  
Danville, IL
        5,979       9.000 %    
01/2016
      692       4,578  
Bridgewater, NJ
        14,805       5.732 %    
03/2016
      860       13,825  
Omaha, NE
        8,647       5.610 %    
04/2016
      621       7,560  
Tempe, AZ
        8,166       5.610 %    
04/2016
      586       7,140  
Lisle, IL
        10,361       6.500 %    
06/2016
      793       9,377  
Dallas, TX
 
(b)
    18,539       5.939 %    
07/2016
      1,136       18,365  
Rochester, NY
        18,679       6.210 %    
08/2016
      1,383       16,765  

 
Page 32 of 46

 
 
LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
3/31/2009

Property
 
Footnotes
 
Debt Balance
($000)
   
Interest Rate
(%)
   
Maturity (a)
   
Current
Estimated
Annual Debt
Service
($000) (d)
   
Balloon
Payment
($000)
 
Statesville, NC
        14,009       6.210 %    
08/2016
      1,037       12,574  
Rockford, IL
        6,856       6.210 %    
08/2016
      508       6,153  
Glenwillow, OH
        16,903       6.130 %    
09/2016
      1,240       15,132  
Memphis, TN
        3,938       5.710 %    
01/2017
      275       3,484  
Orlando, FL
        9,975       5.722 %    
02/2017
      579       9,309  
Coppell, TX
        14,400       5.710 %    
06/2017
      834       14,400  
Dubuque, IA
        10,400       5.402 %    
06/2017
      733       8,725  
Shreveport, LA
        19,000       5.690 %    
07/2017
      1,096       19,000  
McDonough, GA
        23,000       6.110 %    
11/2017
      1,425       21,651  
Lorain, OH
 
(b)
    1,266       7.750 %    
07/2018
      108      
-
 
Manteca, CA
 
(b)
    894       7.750 %    
07/2018
      77      
-
 
Watertown, NY
 
(b)
    841       7.750 %    
07/2018
      72      
-
 
Lewisburg, WV
 
(b)
    591       7.750 %    
07/2018
      51      
-
 
San Diego, CA
 
(b)
    570       7.750 %    
07/2018
      49      
-
 
Galesburg, IL
 
(b)
    502       7.750 %    
07/2018
      43      
-
 
Boston, MA
        13,660       6.100 %    
12/2018
      996       11,520  
Overland Park, KS
 
(b)
    37,482       5.891 %    
05/2019
      2,619       31,819  
Kansas City, MO
 
(b)
    17,882       5.883 %    
05/2019
      1,250       15,182  
Streetsboro, OH
 
(b)
    19,370       5.749 %    
09/2019
      1,344       16,338  
Boca Raton, FL
        20,400       6.470 %    
02/2020
      1,338       18,383  
Wall Township, NJ
 
(b)
    28,546       6.250 %    
01/2021
      2,788      
-
 
Hilliard, OH
        28,960       5.907 %    
02/2021
      1,734       27,483  
Charleston, SC
        7,350       5.850 %    
02/2021
      436       6,632  
Durham, NH
 
(b)
    18,876       6.750 %    
03/2021
      1,975      
-
 
Antioch, TN
 
(b)
    13,947       6.320 %    
10/2021
      1,580       774  
Whippany, NJ
        16,261       6.298 %    
11/2021
      1,344       10,400  
Dillon, SC
        22,379       5.974 %    
02/2022
      1,832       13,269  
Subtotal/Wtg. Avg./Years Remaining (l)
  $ 1,752,448       5.897 %    
5.3
    $ 140,563     $ 1,502,985  

 
Page 33 of 46

 
 
LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
3/31/2009
Property
 
Footnotes
 
Debt Balance
($000)
   
Interest Rate
(%)
   
Maturity (a)
   
Current
Estimated
Annual Debt
Service
($000) (d)
   
Balloon
Payment
($000)
 
Corporate
                                 
Credit Facility
 
 (c)
    35,000       3.406 %    
02/2011
      1,209       35,000  
Term Loan
 
(c)
    165,000       3.406 %    
02/2011
      5,698       165,000  
Exchangeable Notes
 
(e)(n)
    188,500       5.450 %    
01/2012
      10,273       188,500  
Term Loan
 
(h)(k)
    35,723       5.520 %    
03/2013
      1,999       35,723  
Term Loan
 
(h)(k)
    25,000       5.520 %    
03/2013
      1,399       25,000  
Trust Preferred Notes
 
(g)
    129,120       6.804 %    
04/2037
      8,785       129,120  
Subtotal/Wtg. Avg./Years Remaining (l)
  $ 578,343       5.053 %    
8.2
    $ 29,363     $ 578,343  
Total/Wtg. Avg./Years Remaining (l)
  $ 2,330,791       5.687 %    
6.0
    $ 169,926     $ 2,081,328  
 
Footnotes
(a)    Subtotal and total based on weighted average term to maturity shown in years based on debt balance.
(b)    Debt balances based upon imputed interest rates.
(c)    Floating rate debt 30/60/90/120 day LIBOR plus 285 bps.
(d)    Remaining payments for debt with less than 12 months to maturity, all others are debt service for next 12 months.
(e)    Holders have the right to put notes to the Company commencing 2012 and every five years thereafter. Notes mature in 2027.
(f)    Former Circuit City location, last debt service paid 3/1/09.
(g)    Rate fixed through April 2017, thereafter LIBOR plus 170 bps.
(h)    Rate is swapped to fixed rate through maturity.
(i)     Properties are cross-collateralized properties.
(j)     Properties are cross-collateralized properties.
(k)    Represents full payable of loans, discount of $3,914 excluded from balance.
(l)     Total shown may differ from detailed amounts due to rounding.
(m)   Mortgage call date was 3/1/09. Lender did not call and earliest call date is currently 7/1/09.
(n)    Represents full payable of notes, discount of $5,684 excluded from balance.
(o)    Properties are cross-collateralized properties.

 
Page 34 of 46

 

LEXINGTON REALTY TRUST
Non- Consolidated Investments: Mortgages & Notes Payable
3/31/2009

Joint Venture
 
Footnotes
 
Debt
Balance
($000)
   
LXP Proportionate
Share
($000) (9)
   
Interest
Rate (%)
   
Maturity
   
Current
Estimated
Annual Debt
Service
($000) (8)
   
Balloon
Payment
($000)
   
Proportionate
Share Balloon
Payment
($000) (9)
 
Dallas Commerce
      $ 4,652     $ 1,205       6.680 %    
06/2009
    $ 4,807     $
-
    $
-
 
BCBS LLC
        22,774       9,110       7.850 %    
10/2009
      1,830       22,586       9,034  
Net Lease Strategic
        7,789       1,168       6.930 %    
08/2010
      674       7,603       1,140  
Harpard
        886       241       9.875 %    
01/2011
      531      
-
     
-
 
Net Lease Strategic
        2,182       327       7.500 %    
01/2011
      226       2,076       311  
Net Lease Strategic
        13,821       2,073       7.400 %    
04/2011
      1,258       13,365       2,005  
Net Lease Strategic
        30,582       4,587       5.126 %    
05/2011
      1,589       30,582       4,587  
Taber
        627       171       10.125 %    
06/2011
      313      
-
     
-
 
Jayal
        944       280       11.500 %    
03/2012
      365      
-
     
-
 
Net Lease Strategic
        22,761       3,414       5.147 %    
05/2012
      1,188       22,153       3,323  
Net Lease Strategic
        9,601       1,440       7.670 %    
01/2013
      2,900      
-
     
-
 
Net Lease Strategic
        13,080       1,962       5.148 %    
05/2013
      894       12,144       1,822  
Net Lease Strategic
        4,915       737       5.950 %    
09/2013
      381       4,496       674  
Net Lease Strategic
        20,493       3,074       5.810 %    
02/2014
      1,551       18,588       2,788  
Net Lease Strategic
        9,411       1,412       5.616 %    
04/2014
      697       8,484       1,273  
Net Lease Strategic
        1,268       190       8.500 %    
04/2015
      271      
-
     
-
 
Net Lease Strategic
        16,928       2,539       5.411 %    
05/2015
      1,189       15,087       2,263  
Net Lease Strategic - Oklahoma TIC
    14,749       885       5.240 %    
05/2015
      784       13,673       820  
Net Lease Strategic
        12,590       1,889       5.212 %    
06/2015
      836       11,349       1,702  
Net Lease Strategic
        6,128       919       5.783 %    
06/2015
      462       5,371       806  
Net Lease Strategic
        19,857       2,979       8.036 %    
09/2015
      3,425       6,925       1,039  
Net Lease Strategic
        5,670       851       8.036 %    
09/2015
      944       2,203       330  
Net Lease Strategic
        8,592       1,289       6.090 %    
01/2016
      668       7,446       1,117  
Net Lease Strategic
        6,351       953       6.090 %    
04/2016
      494       5,465       820  
Net Lease Strategic
        6,481       972       6.315 %    
09/2016
      497       5,723       858  
One Summit
        18,056       5,417       9.375 %    
10/2016
      3,344      
-
     
-
 
Net Lease Strategic
        9,157       1,374       6.063 %    
11/2016
      683       8,023       1,203  
One Summit
        11,709       3,513       10.625 %    
11/2016
      2,239      
-
     
-
 
Net Lease Strategic
        9,051       1,358       5.910 %    
10/2018
      728       6,624       994  

 
Page 35 of 46

 
 
Non- Consolidated Investments: Mortgages & Notes Payable
3/31/2009
Joint Venture
 
Footnotes
 
Debt
Balance
($000)
   
LXP
Proportionate
Share
($000) (9)
   
Interest
Rate (%)
   
Maturity
   
Current
Estimated
Annual Debt
Service
($000) (8)
   
Balloon
Payment
($000)
   
Proportionate
Share Balloon
Payment
($000) (9)
 
Net Lease Strategic
        10,239       1,536       9.800 %    
10/2018
      1,952      
-
     
-
 
Dallas Commerce
        12,512       3,241       15.000 %    
12/2018
      2,455      
-
 
   
-
 
Net Lease Strategic
        9,837       1,476       6.010 %    
08/2019
      753       7,658       1,149  
Net Lease Strategic
        7,500       1,125       6.507 %    
11/2019
      495       6,692       1,004  
Net Lease Strategic
        9,927       1,489       6.270 %    
12/2019
      774       7,755       1,163  
Net Lease Strategic
        10,041       1,506       5.930 %    
10/2020
      750       7,660       1,149  
Net Lease Strategic
        9,452       1,418       5.460 %    
12/2020
      741       5,895       884  
Net Lease Strategic
        9,558       1,434       5.640 %    
01/2021
      692       7,018       1,053  
Net Lease Strategic
        12,460       1,869       5.380 %    
08/2025
      1,144       362       54  
Subtotal/Wtg. Avg. (4)/Years Remaining (5)
  $ 402,631     $ 71,420       7.272 %    
5.9
    $ 45,524     $ 273,006     $ 45,367  

 
Page 36 of 46

 
 
Non- Consolidated Investments: Mortgages & Notes Payable
3/31/2009
Joint Venture
 
Footnotes
 
Debt
Balance
($000)
   
LXP
Proportionate
Share
($000) (9)
   
Interest
Rate (%)
   
Maturity
   
Current
Estimated
Annual Debt
Service
($000) (8)
   
Balloon
Payment
($000)
   
Proportionate
Share Balloon
Payment
($000) (9)
 
Corporate
                                             
Concord
 
(3)
    21,516       10,758       1.523 %    
12/2009
      321       21,516       10,758  
Concord
 
(6)(7)
    79,300       39,650       2.721 %    
03/2010
      2,188       79,300       39,650  
Concord
 
(1)(10)
    159,475       79,738       1.538 %    
03/2011
      2,487       159,475       79,738  
Concord
 
(3)
    59,613       29,807       1.556 %    
02/2012
      940       59,613       29,807  
Concord
 
(2)
    347,525       173,763       1.003 %    
12/2016
      3,534       347,525       173,763  
Subtotal/Wtg. Avg. (4)/Years Remaining (5)
  $ 667,429     $ 333,716       1.401 %    
4.8
    $ 9,470     $ 667,429     $ 333,716  
Total/Wtg. Avg. (4)/Years Remaining (5)
  $ 1,070,060     $ 405,136       2.436 %    
5.0
    $ 54,994     $ 940,435     $ 379,082  

Footnotes
(1)   Represents amount outstanding on $165.0 million repurchase agreement, variable rate, a portion of which is fixed subject to swap agreements.
(2)   Collateralized debt obligation of investment grade-rated debt secured directly or indirectly by real estate assets.
(3)   Represents amount outstanding on term loans.
(4)   Weighted average interest rate based on proportionate share.
(5)   Weighted average years remaining on maturities based on proportionate debt balance.
(6)   Maturity date can be extended to 03/2011 if certain criteria are met.
(7)   Represents amount outstanding on $100.0 million repurchase agreement, variable rate.
(8)   Amounts represent estimated 12 months debt service regardless of maturity date for corporate level debt.
(9)   Total balance shown may differ from detailed amounts due to rounding.
(10)  Subsequent to March 31, 2009, an amendment to the facility was executed whereby the balance will be reduced to $60.0 million by 12/31/09 and the maturity date is now 12/31/10.

 
Page 37 of 46

 

LEXINGTON REALTY TRUST
Noncontrolling Interest Properties- Partners' Proportionate Share
Three Months Ended March 31, 2009
($000)

Noncontrolling Interest Properties - Partners' Proportionate Share (1)
     
       
EBITDA (2)
  $ 2,059  
Interest expense
  $ 295  
Non- operating income (2)
  $ 1,325  
Depreciation and amortization
  $ 583  

Footnotes
(1) Does not include OP unit noncontrolling interests.
(2) Includes $1,125 non-cash income for the transfer of land in Long Beach, California.

 
Page 38 of 46

 
 
LEXINGTON REALTY TRUST
Non-Consolidated Investments - Proportionate Share
Three Months Ended March 31, 2009
($000)

Non-Consolidated Operations- Real Estate
     
       
EBITDA
  $ 9,487  
Interest expense
  $ 1,296  
         
         
Non-Consolidated Operations- Debt Platform
       
         
EBITDA
  $ 4,780  
Interest expense
  $ 2,132  
Impairment charges and loan loss reserves
  $ 20,144  

 
Page 39 of 46

 

LEXINGTON REALTY TRUST
Selected Balance Sheet Account Detail
As of March 31, 2009
($000)

Investments in and advances to non-consolidated entities
  $ 124,739  
         
Lexington's "Investments in and advances to non-consolidated entities" line item includes investments in entities which invest in real estate debt securities and loans and net leased properties. A summary is as follows:
       
         
Investment in debt platform
  $ 62,633  
Investment in net lease partnerships
    62,106  
         
Other assets
  $ 32,874  
         
The components of other assets are:
       
         
Deposits, including forward purchase equity commitment
  $ 5,019  
Investments
    15,331  
Equipment
    1,959  
Prepaids
    4,927  
Other receivables
    1,256  
Other
    4,382  
         
Accounts payable and other liabilities
  $ 36,678  
         
The components of accounts payable and other liabilities are:
       
         
Accounts payable and accrued expenses
  $ 14,967  
CIP accruals and other
    4,864  
Taxes
    903  
Deferred lease costs
    2,230  
Subordinated notes
    2,010  
Deposits
    1,525  
Escrows
    2,091  
Transaction costs
    933  
Derivative liability
    7,155  

 
Page 40 of 46

 

LEXINGTON REALTY TRUST
Base Rent Estimates for Current Assets
3/31/2009
($000)

Year
 
Cash
   
GAAP
 
2009
  $ 253,581     $ 252,391  
2010
    311,113       312,581  
2011
    298,609       299,445  
2012
    268,790       268,752  
2013
    230,915       230,153  

Amounts assume (1) lease terms for non-cancellable periods only, (2) that all below market leases are renewed by the tenants at the option rate and (3) that no new or renegotiated leases are entered into for any other property.

 
Page 41 of 46

 

LEXINGTON REALTY TRUST
Major Markets
3/31/2009

   
Core Based Statistical Area (2)
Percent of
GAAP Base Rent
as of
03/31/2009 (1)
1
 
Dallas-Fort Worth-Arlington, TX
8.4%
2
 
Los Angeles-Long Beach-Santa Ana, CA
5.8%
3
 
Houston-Sugar Land-Baytown, TX
5.8%
4
 
New York-Northern New Jersey-Long Island, NY-NJ-PA
5.8%
5
 
Memphis, TN-MS-AR
3.7%
6
 
Baltimore-Towson, MD
3.5%
7
 
Atlanta-Sandy Springs-Marietta, GA
3.4%
8
 
Orlando-Kissimmee, FL
3.1%
9
 
Kansas City, MO-KS
3.0%
10
 
Detroit-Warren-Livonia, MI
2.3%
11
 
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
2.1%
12
 
Richmond, VA
2.1%
13
 
Boston-Cambridge-Quincy, MA-NH
2.0%
14
 
Indianapolis-Carmel, IN
1.9%
15
 
Charlotte-Gastonia-Concord, NC-SC
1.9%
16
 
Chicago-Naperville-Joliet, IL-IN-WI
1.9%
17
 
Columbus, OH
1.8%
18
 
Salt Lake City, UT
1.8%
19
 
Beaumont-Port Arthur, TX
1.6%
20
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
1.6%
21
 
Phoenix-Mesa-Scottsdale, AZ
1.5%
22
 
San Antonio, TX
1.4%
23
 
Seattle-Tacoma-Bellevue, WA
1.4%
24
 
Denver-Aurora, CO
1.4%
25
 
Cincinnati-Middletown, OH-KY-IN
1.3%
26
 
Columbus, IN
1.3%
27
 
Miami-Fort Lauderdale-Pompano Beach, FL
1.3%
28
 
San Francisco-Oakland-Fremont, CA
1.3%
29
 
Las Vegas-Paradise, NV
1.1%
30
 
Honolulu, HI
1.1%
31
 
San Jose-Sunnyvale-Santa Clara, CA
1.0%
32
 
Elizabethtown, KY
1.0%
   
Areas which account for 1% or greater of total GAAP base rent (3)
78.3%

Footnotes
(1)  Three months ended 03/31/2009 GAAP base rent recognized for consolidated properties owned as of 03/31/2009.
(2) A Core Based Statistical Area is the official term for a functional region based around an urban center of at least 10,000 people, based on standards published by the Office of Management and Budget (OMB) in 2000. These standards are used to replace the definitions of metropolitan areas that were defined in 1990.
(3) Total shown may differ from detailed amounts due to rounding.

 
Page 42 of 46

 

LEXINGTON REALTY TRUST
Tenant Industry Diversification
3/31/2009
 
Industry Category
Percent of
GAAP Base Rent
as of
03/31/2009 (1)
Finance/Insurance
15.4%
 
Energy
11.3%
 
Automotive
8.9%
 
Technology
8.8%
 
Food
7.0%
 
Healthcare
6.2%
 
Consumer Products/Other
6.1%
 
Service
5.6%
 
Media/Advertising
5.5%
 
Transportation/Logistics
5.0%
 
Aerospace/Defense
3.6%
 
Retail Department & Discount
2.9%
 
Construction Materials
2.6%
 
Printing/Production
2.3%
 
Telecommunications
2.0%
 
Other
1.5%
 
Real Estate
1.3%
 
Apparel
1.1%
 
Security
1.1%
 
Retail – Specialty
1.0%
 
Retail – Electronics
0.8%
 
Health/Fitness
0.1%
 
Total (2)
100.0%
 
 
Footnotes
(1) Three months ended 03/31/2009 GAAP base rent recognized for consolidated properties owned as of 03/31/2009.
(2) Total shown may differ from detailed amounts due to rounding.

 
Page 43 of 46

 
 
LEXINGTON REALTY TRUST
Other Revenue Data
3/31/2009
 
   
GAAP Base Rent
as of 03/31/09
($000) (1)
   
Percentage
 
Asset Class
           
Office
 
$
67,281
     
76.0%
 
Industrial
 
$
16,842
     
19.0%
 
Retail
 
$
4,463
     
5.0%
 
   
$
88,586
     
100.0%
 
Credit Rating
               
Investment Grade
 
$
39,072
     
44.1%
 
Non-Investment Grade
 
$
9,751
     
11.0%
 
Unrated
 
$
39,763
     
44.9%
 
   
$
88,586
     
100.0%
 
 
Footnotes
(1) Three months ended 03/31/2009 GAAP base rent recognized for consolidated properties owned as of 03/31/2009.

 
Page 44 of 46

 

LEXINGTON REALTY TRUST
Top 10 Tenants or Guarantors
3/31/2009

Tenant or Guarantor
 
Number of Leases
   
Sq. Ft. Leased
   
Sq. Ft. Leased
as a Percent of
Consolidated
Portfolio (2)
   
GAAP Base
Rent as of
03/31/09
($000) (1)
   
Percent of
GAAP Base Rent as of
03/31/09 (1) (2)
 
Bank of America
   
  9
      701,193       1.7 %   $ 2,459       2.8 %
Baker Hughes, Inc.
   
  2
      720,221       1.8 %     2,330       2.6 %
Sanofi-aventis U.S., Inc. (Aventis, Inc. and Aventis Pharma Holding GmbH)
   
  1
      206,593       0.5 %     2,210       2.5 %
Dana Limited
   
  6
      1,902,414       4.7 %     2,075       2.3 %
Federal Express Corporation
   
  3
      702,976       1.8 %     2,041       2.3 %
Legg Mason Tower, Inc.
   
  1
      371,392       0.9 %     1,992       2.2 %
JPMorgan Chase Bank, NA
   
  4
      623,375       1.6 %     1,859       2.1 %
Harcourt, Inc.
   
  2
      915,098       2.3 %     1,791       2.0 %
Morgan, Lewis & Bockius, LLC  (3)
   
  1
      293,170       0.7 %     1,713       1.9 %
Wells Fargo
   
  3
      354,732       0.9 %     1,655       1.9 %
     
32
      6,791,164       16.9 %     $ 20,125       22.7 %

Footnotes
(1) Three months ended 03/31/2009 GAAP base rent recognized for consolidated properties owned as of 03/31/2009.
(2) Total shown may differ from detailed amounts due to rounding.
(3) Includes parking garage operations.

 
Page 45 of 46

 
 
 
Investor Information
     
Transfer Agent
 
Investor Relations
BNY Mellon Shareowner Services
 
Patrick Carroll
480 Washington Blvd.
 
Executive Vice President and Chief Financial Officer
Jersey City NJ 07310-1900
 
Telephone (direct)
(212) 692-7215
(800) 850-3948
 
Facsimile (main)
(212) 594-6600
www.bnymellon.com/shareowner/isd
 
E-mail
pcarroll@lxp.com
     
 
Research Coverage
     
Friedman, Billings, Ramsey
 
Keefe, Bruyette & Woods
Gabe Poggi
703) 469-1141  
Sheila K. McGrath
(212) 887-7793
         
J.P. Morgan Chase    
Barclays Capital
 
Joseph Dazio, CFA
(212) 622-6416
 
Ross L. Smotrich
(212)526-2306
Michael W. Mueller, CFA
(212) 622-6689
     
Anthony Paolone, CFA
(212) 622-6682
 
Raymond James & Assoc.
 
Gregory P. Stuart
(212) 622-5390
 
Paul Puryear
(727) 567-2253
         
     
Stifel Nicolaus
 
   
John W. Guinee
(443) 224-1307

 
Page 46 of 46