EX-99.1 2 v156764_ex99-1.htm
 

Quarterly Earnings and
Supplemental Operating and Financial Data

For the Six Months Ended June 30, 2009


 
 
 
LEXINGTON REALTY TRUST
SUPPLEMENTAL REPORTING PACKAGE
For the Six Months Ended June 30, 2009
 
Table of Contents
 
Section
  
Page
     
Second Quarter 2009 Earnings Press Release
  
 3
     
Portfolio Data
    
2Q ’09 Leasing Summary
  
12
2Q ’09 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
2Q ’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
2012 Mortgage Maturities by Property Type
  
31
Mortgages and Notes Payable
  
32
Noncontrolling Investments – Partners’ Proportionate Share
  
39
Non-Consolidated Investments - Proportionate Share
  
40
Selected Balance Sheet Account Detail
  
41
Base Rent Estimates from Current Assets
  
42
Major Markets
  
43
Tenant Industry Diversification
  
44
Other Revenue Data
  
45
Top 10 Tenants or Guarantors
  
46
     
Investor Information
  
47
 
This Quarterly Earnings Release and Supplemental Reporting Package 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.

 
 

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

FOR IMMEDIATE RELEASE
Thursday, August 6, 2009

LEXINGTON REALTY TRUST REPORTS SECOND QUARTER 2009 RESULTS

New York, NY – August 6, 2009 – Lexington Realty Trust (“Lexington”) (NYSE:LXP), a real estate investment trust focused on single-tenant real estate investments, today announced results for the second quarter ended June 30, 2009.

Second Quarter 2009 Highlights
 
·
Generated Company Funds From Operations (“Company FFO”) of $40.7 million or $0.35 per diluted share/unit, excluding certain items.(A)
 
·
Executed 26 new and renewal leases, totaling approximately 1.8 million square feet.
 
·
Increased availability under its secured credit facility by $40.0 million to a total of $290.0 million.
 
·
Raised $84.0 million through asset sales and satisfaction of notes receivable.
 
·
Reduced overall debt by $111.4 million, including $54.1 million original principal amount of 5.45% Exchangeable Notes repurchased at an average discount of 17.6%.
 
·
Repurchased and retired 503,100 Series C preferred shares with $25.2 million liquidation preference by issuing $11.4 million of common shares.
 
·
Recognized $1.3 million in lease deferred maintenance and termination payments.
 
·
Recorded (1) debt investment impairment charges and reserves of $90.4 million, related to Concord Debt Holdings reducing our investment to zero, and (2) non-cash income of $4.2 million, related to a forward equity commitment to repurchase 3.5 million common shares.
·
Modified 2009 guidance to reflect 7.3 million common shares issued relating to the quarterly     dividend payment and repurchase of Series C preferred shares.
(A) See the last page of this press release for a reconciliation of GAAP net income to Company FFO.

T. Wilson Eglin, President and Chief Executive Officer of Lexington stated, “We continue to make steady progress in decreasing our overall debt level through accretive debt repurchases, asset sales and collections of notes receivable from our investment portfolio. We believe these efforts have strengthened our balance sheet and enhanced our capital position. Furthermore, as a result of our leasing success we have lowered the number of leases expiring over the next few years. We believe our portfolio continues to perform well with overall occupancy of approximately 92.0%”.

FINANCIAL RESULTS
Revenues

For the quarter ended June 30, 2009, total gross revenues were $98.8 million, compared with total gross revenues of $124.6 million for the quarter ended June 30, 2008.  The decrease is primarily due to $28.7 million of lease termination payments received, partially offset by $4.1 million in accelerated amortization of above and below market leases, in the second quarter of 2008.

 
Page 3 of 47
 
 
Company FFO Applicable to Common Shareholders/Unitholders

The following presents in tabular form certain items impacting Company FFO for the periods presented:

   
Three Months Ended
    
Six Months Ended
  
                                                 
   
June 30,
2009
Millions(1)
    
Per Diluted
Share/Unit
    
June 30,
2008
Millions(1)
    
Per Diluted
Share/Unit
    
June 30,
2009
Millions(1)
    
Per Diluted
Share/Unit
    
June 30,
2008
Millions (1)
    
Per Diluted
Share/Unit
  
Reported Company FFO(A)
   $ (38.8 )   $ (0.33 )   $ 76.1     $ 0.71     $ (57.5 )   $ (0.50 )   $ 116.1     $ 1.09  
Severance charges
     —               —               —               2.0          
New accounting pronouncements
     0.5               0.9               0.9               2.0          
Formation costs – joint venture
     —               0.2               —               1.1          
Debt satisfaction, net
     (5.9 )             (26.0 )             (12.3 )             (32.5 )        
Debt satisfaction, net – Concord
     —               (1.3 )             —               (3.8 )        
Forward equity commitment
     (4.2 )             —               4.4               —          
Impairment losses – real estate
     —               —               9.5               2.7          
Impairment losses – investments
      —               —               1.1               —          
Impairment losses/ reserves – Concord
       51.3                 26.3                 71.4                 29.0          
Equity impairment - Concord
       39.1                 —                 68.2                 —          
Impairment loss – JV
     —               1.0               —               1.0          
Lease termination/ deferred maintenance payments
     (1.3 )             (34.9 )             (1.3 )             (34.9 )        
Land transaction income, net
     —               —               (1.3 )             —          
    $ 40.7     $ 0.35     $ 42.3     $ 0.40     $ 83.1     $ 0.73     $ 82.7     $ 0.78  
   
(A)
See the last page of this press release for a reconciliation of GAAP net income (loss) to Company FFO.

Net Income (Loss) Attributable to Common Shareholders - Diluted

For the quarter ended June 30, 2009, net loss attributable to common shareholders was $(90.3) million, or a loss of $(0.87) per diluted share, compared with a net loss attributable to common shareholders for the quarter ended June 30, 2008 of $(5.4) million, or loss of $(0.06) per diluted share.

Financing Activities

During the second quarter, Lexington increased the aggregate availability under its secured credit facility to $290.0 million, of which $200.0 million was outstanding as of June 30, 2009.

 
Page 4 of 47
 
 
Balance Sheet

During the second quarter, Lexington reduced its overall debt by $111.4 million, including $54.1 million original principal amount of 5.45% Exchangeable Notes repurchased at an average discount of 17.6%. Subsequent to June 30, 2009, Lexington repurchased an additional $29.2 million original principal amount of these notes at a 15.0% discount, leaving $105.2 million currently outstanding. At June 30, 2009, the Company had approximately $3.8 billion in total assets, including $75.0 million of cash and restricted cash and $2.2 billion in debt outstanding. As of June 30, 2009, the weighted-average interest rate on the Company’s debt was 5.64% with a weighted-average maturity of 5.8 years. Approximately 91.0% of Lexington’s debt is subject to fixed interest rates.

In addition, Lexington repurchased and retired 503,100 of its Series C preferred shares in exchange for 2,955,368 common shares. This transaction reduced the liquidation preference of the Company’s Series C preferred shares by $25.2 million and lowered Lexington’s annual fixed charges by $1.6 million.

Common Share Dividend/Distribution

On June 16, 2009, Lexington announced it declared a regular quarterly dividend/distribution of $0.18 per share/unit, which was paid in a combination of cash and common shares on July 30, 2009 to common shareholders/unitholders of record as of June 30, 2009, and which equated to an annualized dividend of $0.72 per share. Lexington issued approximately 4.3 million common shares on July 30, 2009 and retained approximately $17.7 million of liquidity by paying 90% of the common share dividend in common shares.

OPERATING ACTIVITIES

Sales and Investments

During the quarter ended June 30, 2009, Lexington sold its interest in six properties to third parties for an aggregate gross sales price of $75.4 million, which generated gains on sale of $3.2 million. The weighted-average cap rate on the assets sold was 8.0%. In addition to these asset sales, Lexington received $4.7 million from a land sale/leaseback transaction and collected $3.9 million in full payment for two notes held for investment.

Leasing Activity

At June 30, 2009, Lexington’s portfolio was approximately 92.0% leased.  For the quarter ended June 30, 2009, Lexington executed 26 leases (new and renewal) for approximately 1.8 million square feet. During the quarter, Lexington recognized an aggregate of $1.3 million in lease deferred maintenance and termination payments.

2009 EARNINGS GUIDANCE

Lexington is reducing its estimated Company FFO guidance to a range of $1.29 to $1.34 per diluted share/unit from $1.30 to $1.37 per diluted share/unit for the year ended December 31, 2009 to reflect the issuance of approximately 7.3 million common shares issued in connection with the quarterly common share dividend and the repurchase and retirement of Series C preferred shares. This guidance excludes the impact of certain items, is based on current expectations and is forward-looking.

 
Page 5 of 47
 
 
2ND QUARTER 2009 CONFERENCE CALL

Lexington will host a conference call today, Thursday, August 6, 2009, at 11:00 a.m. Eastern Time, to discuss its results for the quarter ended June 30, 2009. Interested parties may participate in this conference call by dialing (800) 930-1353 or (913) 312-1383. A replay of the call will be available through August 20, 2009, at (888) 203-1112, Replay Pin Number: 2245185.

A live web cast of the conference call will be available at www.lxp.com within the Investor Relations section. An online replay will also be available through August 6, 2010.

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 47
 

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three and Six Months ended June 30, 2009 and 2008
(Unaudited and in thousands, except share and per share data)

   
Three months ended
June 30,
    
Six months ended
June 30,
  
             
   
2009
    
2008
    
2009
    
2008
  
Gross Revenues:
                        
Rental
   $ 87,934     $ 114,542     $ 175,776     $ 208,189  
Advisory and incentive fees
     583       365       1,046       676  
Tenant reimbursements
     10,247       9,727       20,354       19,164  
Total gross revenues
     98,764       124,634       197,176       228,029  
                                 
Expense applicable to revenues:
                                
Depreciation and amortization
     (45,405 )     (83,214 )     (92,097 )     (137,451 )
Property operating
     (21,607 )     (18,652 )     (42,900 )     (36,576 )
General and administrative
     (6,214 )     (7,306 )     (12,865 )     (18,350 )
Non-operating income
     1,500       18,692       5,618       20,796  
Interest and amortization expense
     (33,711 )     (39,528 )     (67,874 )     (82,564 )
Debt satisfaction gains, net
     7,305       26,355       13,716       32,774  
Change in value of forward equity commitment
     4,198       −       (4,435 )     −  
Impairment charges and loan loss reserves
     −       −       (9,476 )     −  
Gains on sale-affiliates
     −       8,637       −       31,806  
                                 
Income (loss) before provision for income taxes, equity in
                                
earnings (losses) of non-consolidated entities and
                                
discontinued operations
     4,830       29,618       (13,137 )     38,464  
Provision for income taxes
     (332 )     (641 )     (1,003 )     (1,931 )
Equity in earnings (losses) of non-consolidated entities
     (83,164 )     (27,194 )     (130,288 )     (21,647 )
Income (loss) from continuing operations
     (78,666 )     1,783       (144,428 )     14,886  
                                 
Discontinued operations:
                                
Income (loss) from discontinued operations
     532       (240 )     552       669  
Provision for income taxes
     −       (125 )     (52 )     (193 )
Debt satisfaction charges
     (1,399 )     (313 )     (1,399 )     (313 )
Gains on sales of properties
     3,186       3,925       6,280       4,612  
Impairment charge
     (46 )     −       (1,166 )     (2,694 )
Total discontinued operations
     2,273       3,247       4,215       2,081  
Net income (loss)
     (76,393 )     5,030       (140,213 )     16,967  
Less net (income) loss attributable to noncontrolling
                                
interests
     (715 )     9,874       (1,843 )     3,580  
Net income (loss) attributable to Lexington Realty Trust
     (77,108 )     14,904       (142,056 )     20,547  
Dividends attributable to preferred shares- Series B
     (1,590 )     (1,590 )     (3,180 )     (3,180 )
Dividends attributable to preferred shares- Series C
     (1,703 )     (2,111 )     (3,814 )     (4,630 )
Dividends attributable to preferred shares- Series D
     (2,925 )     (2,925 )     (5,851 )     (5,851 )
Redemption discount – Series C
     −       5,678       −       5,678  
Conversion dividend – Series C
     (6,994 )     −       (6,994 )     −  
Net income (loss) attributable to common shareholders
   $ (90,320 )   $ 13,956     $ (161,895 )   $ 12,564  
                                 
Income (loss) per common share-basic:
                                
Income (loss) from continuing operations
   $ (0.89 )   $ 0.20     $ (1.63 )   $ 0.20  
Income from discontinued operations
     0.02       0.03       0.04       0.01  
Net income (loss) attributable to common shareholders
   $ (0.87 )   $ 0.23     $ (1.59 )   $ 0.21  
                                 
Weighted average common shares outstanding - basic
     104,163,378       60,163,396       102,070,600       59,994,988  
                                 
Income (loss) per common share-diluted:
                                
Loss from continuing operations
   $ (0.89 )   $ (0.09 )   $ (1.63 )   $ (0.03 )
Income from discontinued operations
     0.02       0.03       0.04       0.01  
Net loss attributable to common shareholders
   $ (0.87 )   $ (0.06 )   $ (1.59 )   $ (0.02 )
                                 
Weighted average common shares outstanding-diluted
     104,163,378       100,554,903       102,070,600       100,556,746  
Amounts attributable to common shareholders:
                                
Income (loss) from continuing operations
   $ (92,189 )   $ 12,392     $ (165,751 )   $ 12,012  
Income from discontinued operations
     1,869       1,564       3,856       552  
Net income (loss) attributable to common shareholders
   $ (90,320 )   $ 13,956     $ (161,895 )   $ 12,564  
 
 
Page 7 of 47
 

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
CONDENSED BALANCE SHEETS
June 30, 2009 and December 31, 2008
( Unaudited and in thousands, except share and per share data)

   
June 30,
    
December 31,
  
   
2009
    
2008
  
Assets:
            
Real estate, at cost
   $ 3,695,818     $ 3,756,188  
Less: accumulated depreciation and amortization
     512,250       461,661  
      3,183,568       3,294,527  
Properties held for sale-discontinued operations
     191       8,150  
Intangible assets, net
     300,024       343,192  
Cash and cash equivalents
     48,639       67,798  
Restricted cash
     26,361       31,369  
Investment in and advances to non-consolidated entities
     64,479       179,133  
Deferred expenses, net
     39,522       35,741  
Notes receivable, net
     62,525       68,812  
Rent receivable-current
     10,924       19,829  
Rent receivable- deferred
     16,499       16,499  
Other assets
     38,211       40,675  
Total assets
   $ 3,790,943     $ 4,105,725  
                 
Liabilities and Equity:
                
Liabilities:
                
Mortgage and notes payable
   $ 1,952,221     $ 2,033,854  
Exchangeable notes payable
     130,706       204,074  
Trust preferred securities
     129,120       129,120  
Contract rights payable
     15,491       14,776  
Dividends payable
     8,187       24,681  
Liabilities-discontinued operations
     32       6,142  
Accounts payable and other liabilities
     38,437       33,814  
Accrued interest payable
     14,401       16,345  
Deferred revenue-below market leases, net
     113,192       121,722  
Prepaid rent
     16,910       20,126  
      2,418,697       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 $104,760 and $129,915, respectively, and 2,095,200 and 2,598,300 shares issued and outstanding in 2009 and 2008, respectively
     101,778       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, 109,009,271 and 100,300,238 shares issued and outstanding in 2009 and 2008, respectively
     11       10  
Additional paid-in-capital
     1,689,452       1,638,540  
Accumulated distributions in excess of net income
     (739,478 )     (569,131 )
Accumulated other comprehensive income (loss)
     313       (15,650 )
Total shareholders’ equity
     1,278,165       1,406,075  
Noncontrolling interests
     94,081       94,996  
Total equity
     1,372,246       1,501,071  
Total liabilities and equity
   $ 3,790,943     $ 4,105,725  
 
 
Page 8 of 47
 

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

   
Three Months ended
    
Six Months ended
  
   
June 30,
    
June 30,
  
   
2009
    
2008
    
2009
    
2008
  
EARNINGS PER SHARE: (1)
                        
Basic:
                        
Income (loss) from continuing operations attributable to
                        
Lexington
   $ (78,977 )   $ 13,340     $ (145,912 )   $ 19,995  
Less preferred dividends
     (13,212 )     (948 )     (19,839 )     (7,983 )
Income (loss) attributable to common shareholders from continuing operations
     (92,189 )     12,392       (165,751 )     12,012  
Income from discontinued operations attributable to shareholders
     1,869       1,564       3,856       552  
Net income (loss) attributable to common shareholders - basic
   $ (90,320 )   $ 13,956     $ (161,895 )   $ 12,564  
                                 
Weighted average number of common shares outstanding –
                                
basic
     104,163,378       60,163,396       102,070,600       59,994,988  
                                 
Income (loss) per common share - basic:
                                
Income (loss) from continuing operations
   $ (0.89 )   $ 0.20     $ (1.63 )   $ 0.20  
Income from discontinued operations
     0.02       0.03       0.04       0.01  
Net income (loss) attributable to common shareholders
   $ (0.87 )   $ 0.23     $ (1.59 )   $ 0.21  
                                 
Diluted:
                                
Income (loss) attributable to common shareholders from continuing operations -basic
   $ (92,189 )   $ 12,392     $ (165,751 )   $ 12,012  
Incremental loss attributed to assumed conversion of dilutive securities
     –       (21,019 )     –       (14,256 )
Income (loss) attributable to common shareholders from continuing operations
     (92,189 )     (8,627 )     (165,751 )     (2,244 )
Income from discontinued operations attributable to shareholders
     1,869       3,252       3,856       1,260  
Net loss attributable to common shareholders – diluted
   $ (90,320 )   $ (5,375 )   $ (161,895 )   $ (984 )
                                 
Weighted average number of common shares used in calculation of basic earnings per share
     104,163,378       60,163,396       102,070,600       59,994,988  
Add incremental shares representing:
                                
Shares issuable upon conversion of dilutive securities
     –       40,391,507       –       40,561,758  
Weighted average number of common shares outstanding - diluted
     104,163,378       100,554,903       102,070,600       100,556,746  
                                 
Income (loss) per common share – diluted:
                                
Loss from continuing operations
   $ (0.89 )   $ (0.09 )   $ (1.63 )   $ (0.03 )
Income from discontinued operations
     0.02       0.03       0.04       0.01  
Net loss attributable to common shareholders
   $ (0.87 )   $ (0.06 )   $ (1.59 )   $ (0.02 )
 
 
Page 9 of 47
 

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

   
Three Months ended
    
Six Months ended
  
   
June 30,
    
June 30,
  
   
2009
    
2008
    
2009
    
2008
  
COMPANY FUNDS FROM OPERATIONS: (1)(2)
                        
Basic and Diluted:
                        
Net income attributable to common shareholders-basic
   $ (90,320 )   $ 13,956     $ (161,895 )   $ 12,564  
Adjustments:
                                
Depreciation and amortization
     44,724       84,785       91,410       140,741  
Minority interests- OP units
     624       (13,653 )     712       (8,277 )
Amortization of leasing commissions
     713       420       1,482       1,012  
Joint venture and noncontrolling interest adjustment
     (4 )     6,733       6,291       7,521  
Preferred dividends- Series C
     8,697       (3,567 )     10,808       (1,048 )
Gains on sale of properties
     (3,186 )     (12,562 )     (6,280 )     (36,418 )
Company FFO
   $ (38,752 )   $ 76,112     $ (57,472 )   $ 116,095  
                                 
Basic:
                                
Weighted average shares outstanding-basic EPS
     104,163,378       60,163,396       102,070,600       59,994,988  
Unvested share based payment awards
     705,482       425,898       707,629       435,483  
Operating partnership units
     5,437,194       39,519,599       5,373,650       39,581,887  
Preferred Shares- Series C
     5,791,818       6,398,965       5,720,779       6,560,348  
Weighted average shares outstanding-basic Company FFO
     116,097,872       106,507,858       113,872,658       106,572,706  
Company FFO per share
   $ (0.33 )   $ 0.71     $ (0.50 )   $ 1.09  
                                 
Diluted:
                                
Weighted average shares outstanding – diluted EPS
     104,163,378       100,554,903       102,070,600       100,556,746  
Unvested share based payment awards
     705,482       425,898       707,629       435,483  
Operating partnership units
     5,437,194       –       5,373,650       –  
Preferred Shares- Series C
     5,791,818       5,527,057       5,720,779       5,580,477  
Weighted average shares outstanding – diluted Company FFO
     116,097,872       106,507,858       113,872,658       106,572,706  
Company FFO per share
   $ (0.33 )   $ 0.71     $ (0.50 )   $ 1.09  
 
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 $0.02 for the three months ended June 30, 2008, and $0.06 for the six months ended June 30, 2008 respectively. Loss per common share (diluted) was increased by $0.02 for the three months ended June 30, 2008, and earnings per common share (diluted) was reduced by $0.07 for the six months ended June 30, 2008.

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 47
 

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 47
 
 
2009 Second 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
  
Admiral Americas, LLC (5)
  
Glen Allen
VA
  
Office
    
01/2015
       26,610     $ 466     $ 365  
2
  
Angell M.L. You
  
Honolulu
HI
  
Office
    
06/2012
       274     $ 2     $ 2  
3
  
MCImetro Access Transmission Services, LLC
  
Decatur
GA
  
Office
    
04/2019
       104     $ 2     $ 2  
4
  
Metro Sports and Entertainment, LLC
  
Dallas
TX
  
Office
    
03/2010
       1,001     $ 6     $ 6  
5
  
Sheltering Arms Hospital, Inc.
  
Glen Allen
VA
  
Office
    
01/2020
       19,075     $ 334     $ 334  
6
  
Verify, Inc. (4)
  
Irvine
CA
  
Office
    
06/2016
       15,371     $ 354     $ 354  
6
  
TOTAL NEW LEASES
                       62,435     $ 1,164     $ 1,063  

   
LEASE EXTENSIONS
                                      
   
Tenants/Guarantors
  
Location
  
Prior
Term
  
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)
  
                                           
   
Office
                                      
1
  
Antenna Audio
  
Honolulu
HI
  
MTM
    
08/2011
     324   $ 5   $ 6   $ 5     $ 6  
2
  
Dean Hamada and Jeffrey Engel
  
Honolulu
HI
  
MTM
    
02/2012
     583   $ 9   $ 13   $ 9     $ 13  
3
  
HFS North America, LLC
  
Lisle
IL
  
08/2009
    
08/2010
     7,535   $ 94   $ 102   $ 94     $ 111  
4
  
Holt & Hirsch and Rowe & Holt
  
Dallas
TX
  
MTM
    
04/2014
     1,717   $ 25   $ 22   $ 25     $ 22  
5
  
Jacobs Engineering Group, Inc. (2)
  
Long Beach
CA
  
03/2019
    
02/2021
     85,603   $ 1,933   $ 1,813   $ 1,933     $ 1,813  
6
  
Jordan Associates, Inc. (1)
  
Oklahoma City
OK
  
06/2009
    
06/2010
     12,000   $ 51   $ 40   $ 51     $ 40  
7
  
Lakewood Therapy, Inc.
  
Dallas
TX
  
03/2009
    
03/2010
     752   $ 11   $ 11   $ 11     $ 11  
8
  
Leetex Construction, LLC
  
Dallas
TX
  
07/2011
    
07/2012
     2,353   $ 34   $ 21   $ 34     $ 21  
9
  
Management and Training
  
Honolulu
HI
  
04/2009
    
04/2010
     1,518   $ 20   $ 20   $ 20     $ 20  
10
  
Meador & Meador, LLP
  
Dallas
TX
  
MTM
    
04/2010
     1,146   $ 16   $ 22   $ 16     $ 22  
11
  
Michael S. Nomura, dba Nomura Designs
  
Honolulu
HI
  
12/2010
    
03/2012
     615   $ 7   $ 10   $ 7     $ 10  
12
  
Ofie P. Valdez
  
Honolulu
HI
  
03/2009
    
03/2010
     656   $ 11   $ 14   $ 11     $ 14  
13
  
Rotron, Inc. (3)
  
Saugerties
NY
  
12/2009
    
12/2014
     52,000   $ 122   $ 122   $ 232     $ 232  
14
  
Sony Electronics, Inc.
  
Los Angeles
CA
  
08/2009
    
08/2012
     20,203   $ 211   $ 287   $ 211     $ 271  
15
  
Thomas & Libowitz
  
Baltimore
MD
  
09/2009
    
09/2019
     14,629   $ 329   $ 458   $ 329     $ 458  
16
  
United States Navy
  
Beaumont
TX
  
06/2009
    
06/2010
     1,982   $ 38   $ 38   $ 38     $ 38  
17
  
Wells Fargo Bank, NA
  
Fort Mill
SC
  
01/2013
    
05/2014
     169,083   $ 2,511   $ 3,093   $ 2,535     $ 3,021  
                                                       
   
Industrial
                                                  
1
  
Owens Corning Insulating System, LLC
  
Hebron
OH
  
05/2009
    
05/2010
     400,522   $ 801   $ 1,027   $ 801     $ 985  
2
  
United Technologies Corporation
  
Berwick
ME
  
12/2010
    
04/2019
     972,625   $ 1,535   $ 2,346   $ 1,535     $ 2,346  
                                                       
   
Retail
                                                  
1
  
Bally's Total Fitness of the Midwest  (Bally's Health & Tennis Corporation)
  
Canton
OH
  
12/2009
    
06/2011
     37,214   $ 279   $ 447   $ 234     $ 397  
20
  
TOTAL LEASE EXTENSIONS
                       1,783,060   $ 8,042   $ 9,912   $ 8,131     $ 9,851  
                                                         
26
  
TOTAL NEW AND RENEWED LEASES
                       1,845,495   $ 9,206   $ 9,912   $ 9,194     $ 9,851  

Footnotes
(1) Held as an investment in NLS joint venture.
(2) Amounts represent full occupancy starting 3/2010; Lexington has a 55.0% interest in this property.
(3) Lexington has a 57.8% interest in this property.
(4) Lexington has a 64.4% interest in this property.
(5) Amounts represent full occupancy starting 9/2011.

 
Page 12 of 47
 

LEXINGTON REALTY TRUST
2009 Second Quarter Disposition Summary

   
DISPOSITIONS - LEASED PROPERTIES
                            
   
Tenants/Guarantors
  
Location
  
Property Type
  
Gross
Sale Price
($000)
    
Gain
(Impairment)
Recognized
($000)
    
Cash
Cap Rate
  
Month of
Disposition
  
1
  
BMW Financial Services NA, LLC
  
Hilliard
OH
  
Office
   $ 34,800     $ 1,999       7.1 %
May
  
2
  
Brinks, Inc.
  
Coppell
TX
  
Office
   $ 18,500     $ 814       7.1 %
May
  
3
  
Food Lion, Inc.
  
Charlotte
NC
  
Retail
   $ 885     $ (46 )     11.0 %
May
  
4
  
Food Lion, Inc.
  
Concord
NC
  
Retail
   $ 1,800     $ 125       10.9 %
Apr
  
5
  
The Kroger Company
  
Granbury
TX
  
Retail
   $ 2,250     $ 34       9.0 %
May
  
6
  
The Sygma Network, Inc. (Sysco Corporation)
  
Danville
IL
  
Industrial
   $ 17,119     $ 214       10.0 %
June
  
6
  
TOTAL DISPOSITIONS
             $ 75,354     $ 3,140       8.0 %    

   
LAND SALE/LEASEBACK 
                                  
   
Location
  
Property Type
  
Land Area
(Acres)
    
Gross
Sale Price
($000)
                          
1
  
Palm Beach Gardens, FL   (1)
  
Office
     6.20     $ 4,750                          
1
  
TOTAL LAND SALE/LEASEBACK
         6.20     $ 4,750                          

Footnotes
(1) Land was sold to an unaffiliated third party and Lexington is leasing back the land for 30 years with a purchase option at June 2014 and June 2015.

 
Page 13 of 47
 
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 06/30/09
 
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
 6/30/2009 
($000) (2)
GAAP
 Base Rent 
as of
6/30/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
OFFICE PROPERTIES
                  
2009
9/15/2009
  
15375 Memorial Dr.
Houston
TX
—
BP America Production Company
1985
349,674
1,800
2,125
0
 
9/30/2009
  
100 Light St.
Baltimore
MD
—
Legg Mason Tower, Inc.
1973
371,392
4,007
4,007
0
 
11/30/2009
  
5724 West Las Positas Blvd.
Pleasanton
CA
(9)
NK Leasehold
1984
40,914
413
340
0
 
12/31/2009
  
1701 Market St.
Philadelphia
PA
(6)(10)
Sun National Bank
1957/1997
5,315
106
106
0
2010
1/14/2010
  
421 Butler Farm Rd.
Hampton
VA
—
Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)
2000
56,515
391
359
0
 
1/31/2010
  
4848 129th East Ave.
Tulsa
OK
—
Metris Direct, Inc. (Metris Companies, Inc.)
2000
101,100
653
653
0
 
2/10/2010
  
130 East Shore Dr.
Glen Allen
VA
—
Capital One Services, Inc.
2000
33,990
391
401
1,070
 
3/31/2010
  
120 East Shore Dr.
Glen Allen
VA
—
Capital One Services, Inc.
2000
77,045
503
505
1,042
 
7/31/2010
  
350 Pine St.
Beaumont
TX
—
Honeywell International, Inc.
1981
7,045
54
54
0
 
10/31/2010
  
12209 West Markham St.
Little Rock
AR
—
Entergy Arkansas, Inc.
1980
36,311
119
119
237
 
11/30/2010
  
6200 Northwest Pkwy.
San Antonio
TX
—
United Healthcare Services, Inc.
2000
142,500
820
810
1,968
 
12/31/2010
  
100 Barnes Rd.
Wallingford
CT
—
3M Company
1978/1985/1990/1993
44,400
327
303
475
2011
2/28/2011
  
4200 RCA Blvd.
Palm Beach Gardens
FL
—
The Wackenhut Corporation
1996
96,118
906
906
2,402
 
9/30/2011
  
200 Lucent Ln.
Cary
NC
—
Alcatel-Lucent USA, Inc.
1999
124,944
1,107
1,029
0
 
11/30/2011
  
207 Mockingbird Ln.
Johnson City
TN
—
SunTrust Bank
1979
63,800
338
378
675
 
12/20/2011
  
15 Nijborg
3927 DA Renswoude
The Netherlands
—
AS Watson (Health and Beauty Continental Europe, BV)
1993/1994
17,610
168
168
0
 
12/31/2011
  
2050 Roanoke Rd.
Westlake
TX
—
Daimler Chrysler Services North America, LLC
2001
130,290
1,830
1,727
0
2012
1/31/2012
  
26210 and 26220 Enterprise Court
Lake Forest
CA
—
Apria Healthcare, Inc. (Apria Healthcare Group, Inc.)
2001
100,012
955
896
0
     
4000 Johns Creek Pkwy.
Suwanee
GA
—
Kraft Foods North America, Inc.
2001
73,264
700
692
0
     
1275 Northwest 128th St.
Clive
IA
—
Principal Life Insurance Company
2004
61,180
400
400
935
 
3/31/2012
  
1701 Market St.
Philadelphia
PA
(6)(10)
Car-Tel Communications, Inc.
1957/1997
1,220
24
24
0
     
2300 Litton Ln.
Hebron
KY
—
Zwicker & Associates, P.C.
1986/1996
14,511
39
39
0
     
3940 South Teller St.
Lakewood
CO
—
Travelers Express Company, Inc.
2002
68,165
585
434
1,295
 
6/30/2012
  
275 South Valencia Ave.
Brea
CA
—
Bank of America NT & SA
1983
637,503
4,355
4,397
0
 
8/31/2012
  
2300 Litton Ln.
Hebron
KY
—
AGC Automotive Americas Company (AFG Industries, Inc.)
1986/1996
25,629
103
102
0
     
5757 Decatur Blvd.
Indianapolis
IN
—
Allstate Insurance Company
2002
84,200
687
774
0
             
Damar Services, Inc.
2002
5,756
21
20
47
     
2706 Media Center Dr.
Los Angeles
CA
—
Sony Electronics, Inc.
2000
20,203
143
135
0
 
10/31/2012
  
4455 American Way
Baton Rouge
LA
—
Bell South Mobility, Inc.
1997
70,100
552
557
1,207
 
11/7/2012
  
2706 Media Center Dr.
Los Angeles
CA
—
Playboy Enterprises, Inc.
2000
63,049
723
629
0
 
11/14/2012
  
2211 South 47th St.
Phoenix
AZ
—
Avnet, Inc.
1997
176,402
1,204
1,130
0
 
12/31/2012
  
200 Executive Blvd. South
Southington
CT
—
Hartford Fire Insurance Company
1984
153,364
840
812
0
2013
1/31/2013
  
12600 Gateway Blvd.
Fort Meyers
FL
—
Gartner, Inc.
1998
62,400
549
546
0
     
2300 Litton Ln.
Hebron
KY
—
FTJ FundChoice, LLC
1986/1996
10,752
27
24
0
     
810 & 820 Gears Rd.
Houston
TX
—
IKON Office Solutions, Inc.
2000
157,790
1,114
1,126
0
 
3/31/2013
  
3165 McKelvey Rd.
Bridgeton
MO
—
BJC Health System
1981
52,994
192
263
0
     
8900 Freeport Pkwy.
Irving
TX
—
Nissan Motor Acceptance Corporation (Nissan North America, Inc.)
2003
268,445
2,401
2,444
0
 
4/30/2013
  
Sandlake Rd./Kirkman Rd.
Orlando
FL
—
Lockheed Martin Corporation
1982
184,000
480
935
960
 
5/31/2013
  
6303 Barfield Rd.
Atlanta
GA
—
International Business Machines Corporation (Internet Security Systems, Inc.)
2000/2001
238,600
2,352
2,441
0
 
6/30/2013
  
2210 Enterprise Dr.
Florence
SC
(6)
JPMorgan Chase Bank, NA
1998
179,300
628
628
0
 
7/31/2013
  
2300 Litton Ln.
Hebron
KY
—
Zwicker & Associates, P.C.
1986/1996
25,925
55
54
0
 
9/30/2013
  
9200 South Park Center Loop
Orlando
FL
(6)
Corinthian Colleges, Inc.
2003
59,927
622
579
0
 
11/30/2013
  
1110 Bayfield Dr.
Colorado Springs
CO
—
Honeywell International, Inc.
1980/1990/2002
166,575
872
800
1,713
 
Page 14 of 47
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 06/30/09
 
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
6/30/2009
($000) (2)
GAAP
 Base Rent 
as of
6/30/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
 
12/13/2013
  
3333 Coyote Hill Rd.
Palo Alto
CA
—
Xerox Corporation
1973/1975/1982
202,000
1,749
1,695
0
 
12/31/2013
  
2550 Interstate Dr.
Harrisburg
PA
—
New Cingular Wireless PCS, LLC
1998
81,859
911
935
0
2014
1/31/2014
  
1701 Market St.
Philadelphia
PA
(10)
Morgan, Lewis & Bockius, LLC
1957/1997
293,170
2,234
2,232
5,149
     
6226 West Sahara Ave.
Las Vegas
NV
—
Nevada Power Company
1982
282,000
3,868
2,004
2,754
 
2/28/2014
  
1500 Hughes Way
Long Beach
CA
—
Fluor Enterprises, Inc.
1981
86,610
624
966
0
 
3/15/2014
  
101 East Erie St.
Chicago
IL
—
Draftfcb, Inc. (Interpublic Group of Companies, Inc.)
1986
218,414
2,064
2,499
0
 
5/31/2014
  
3476 Stateview Blvd.
Fort Mill
SC
—
Wells Fargo Bank, NA
2004
169,218
1,707
1,725
0
     
3480 Stateview Blvd.
Fort Mill
SC
—
Wells Fargo Bank, NA
2004
169,083
1,393
1,389
0
     
859 Mount Vernon Hwy.
Atlanta
GA
(16)
International Business Machines Corporation (Internet Security Systems, Inc.)
2004
50,400
598
515
0
 
7/31/2014
  
16676 Northchase Dr.
Houston
TX
—
Anadarko Petroleum Corporation
2003
101,111
804
813
0
     
350 Pine St.
Beaumont
TX
—
Entergy Gulf States, Inc.
1981
125,406
533
632
0
 
9/30/2014
  
333 Mt. Hope Ave.
Rockway
NJ
—
BASF Corporation
1981/2002/2004
95,500
1,122
1,061
0
 
10/31/2014
  
1409 Centerpoint Blvd.
Knoxville
TN
—
Alstom Power, Inc.
1997
84,404
784
810
0
     
2800 Waterford Lake Dr.
Midlothian
VA
—
Alstom Power, Inc.
2000
99,057
976
1,007
0
     
700 US Hwy. Route 202-206
Bridgewater
NJ
—
Biovail Pharmaceuticals, Inc. (Biovail Corporation)
1985/2003/2004
115,558
1,011
1,424
0
 
12/14/2014
  
5150 220th Ave.
Issaquah
WA
—
OSI Systems, Inc. (Instrumentarium Corporation)
1992
106,944
1,062
1,076
0
     
22011 Southeast 51st St.
Issaquah
WA
—
OSI Systems, Inc. (Instrumentarium Corporation)
1987
95,600
950
952
0
 
12/31/2014
  
180 South Clinton St.
Rochester
NY
(6)
Frontier Corporation
1988/2000
226,000
1,485
1,481
0
     
275 Technology Dr.
Canonsburg
PA
—
ANSYS, Inc.
1996
107,872
715
689
0
     
3535 Calder Ave.
Beaumont
TX
—
Compass Bank
1977
49,639
341
341
0
     
400 Butler Farm Rd.
Hampton
VA
—
Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)
1999
100,632
603
621
0
2015
1/31/2015
  
26555 Northwestern Hwy.
Southfield
MI
—
Federal-Mogul Corporation
1963/1965/1988/1989
187,163
579
709
0
     
130 East Shore Dr.
Glen Allen
VA
—
Admiral Americas, LLC
2000
26,610
0
96
0
 
4/30/2015
  
13775 McLearen Rd.
Herndon
VA
—
Equant, Inc. (Equant, NV)
1984/1988/1992
125,293
1,029
1,065
0
 
6/30/2015
  
389-399 Interpace Hwy.
Parsippany
NJ
(18)
Cadbury Schweppes Holdings
1999
133,647
106
106
0
 
7/1/2015
  
33 Commercial St.
Foxboro
MA
—
Invensys Systems, Inc. (Siebe, Inc.)
1982/1987
164,689
1,719
1,719
3,024
 
7/31/2015
  
4001 International Pkwy.
Carrollton
TX
—
Motel 6 Operating, LP (Accor S.A.)
2003
138,443
1,621
1,633
3,612
 
9/27/2015
  
10001 Richmond Ave.
Houston
TX
—
Baker Hughes, Inc.
1976/1984
554,385
4,259
3,688
6,596
     
12645 West Airport Rd.
Sugar Land
TX
—
Baker Hughes, Inc.
1997
165,836
1,080
971
1,976
 
9/30/2015
  
500 Olde Worthington Rd.
Westerville
OH
(5)
InVentiv Communications, Inc.
2000
97,000
556
628
0
     
550 Business Center Dr.
Lake Mary
FL
—
JPMorgan Chase Bank, NA
1999
125,920
1,524
872
0
     
600 Business Center Dr.
Lake Mary
FL
—
JPMorgan Chase Bank, NA
1996
125,155
1,574
830
0
 
10/31/2015
  
13430 North Black Canyon Fwy.
Phoenix
AZ
—
Bull HN Information Systems, Inc.
1981/1982
42,320
260
281
0
2016
1/31/2016
  
389-399 Interpace Hwy.
Parsippany
NJ
(17)
Sanofi-aventis U.S., Inc. (Aventis, Inc. and Aventis Pharma Holding GmbH)
1999
206,593
4,507
4,419
0
 
3/31/2016
  
13430 North Black Canyon Fwy.
Phoenix
AZ
—
Money Management International
1981/1982
28,710
305
314
0
 
4/30/2016
  
11511 Luna Rd.
Farmers Branch
TX
—
Haggar Clothing Company (Texas Holding Clothing Corporation and Haggar Corporation)
2000
180,507
1,087
1,594
2,531
     
2000 Eastman Dr.
Milford
OH
—
Siemens Product Lifecycle Management Software, Inc.
1991
221,215
1,243
961
2,486
 
7/31/2016
  
1600 Viceroy Dr.
Dallas
TX
—
Visiting Nurse Association
1986
48,027
324
308
0
     
13430 North Black Canyon Fwy.
Phoenix
AZ
—
Associated Billing Services, LLC
1981/1982
17,767
150
155
0
 
10/31/2016
  
104 & 110 South Front St.
Memphis
TN
—
Hnedak Bobo Group, Inc.
1871/1988/1999
37,229
242
251
0
 
11/30/2016
  
4000 Johns Creek Pkwy.
Suwanee
GA
—
Perkin Elmer Instruments, LLC
2001
13,955
112
116
0
 
12/31/2016
  
37101 Corporate Dr.
Farmington Hills
MI
—
TEMIC Automotive of North America, Inc.
2001
119,829
1,537
1,221
0
2017
1/31/2017
  
6301 Gaston Ave.
Dallas
TX
—
Wells Fargo
1970/1981
16,431
74
74
0
 
4/30/2017
  
1315 West Century Dr.
Louisville
CO
—
Global Healthcare Exchange
1987
106,877
647
800
0
 
Page 15 of 47
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 06/30/09
 
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
6/30/2009
($000) (2)
GAAP
 Base Rent 
as of
6/30/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
 
9/30/2017
  
9201 East Dry Creek Rd.
Centennial
CO
—
The Shaw Group, Inc.
2001/2002
128,500
1,098
1,186
0
2018
5/30/2018
  
13651 McLearen Rd.
Herndon
VA
—
US Government
1987
159,664
1,484
1,693
0
 
5/31/2018
  
2300 Litton Ln.
Hebron
KY
—
Great American Insurance Company
1986/1996
3,623
8
8
99
 
6/14/2018
  
17 Nijborg
3927 DA Renswoude
The Netherlands
—
AS Watson (Health and Beauty Continental Europe, BV)
1993/1994
114,195
1,498
1,194
0
 
7/31/2018
  
4200 RCA Blvd.
Palm Beach Gardens
FL
—
Office Suites Plus Properties, Inc.
1996
18,400
212
224
0
 
9/15/2018
  
295 Chipeta Way
Salt Lake City
UT
—
Northwest Pipeline Corporation
1982
295,000
3,161
3,161
3,463
 
9/30/2018
  
1701 Market St.
Philadelphia
PA
(6)
Brinker Corner Bakery II, LLC
1957/1997
8,070
95
106
0
 
11/30/2018
  
4201 Marsh Ln.
Carrollton
TX
—
Carlson Restaurants Worldwide, Inc. (Carlson Companies, Inc.)
2003
130,000
963
988
0
 
12/22/2018
  
5200 Metcalf Ave.
Overland Park
KS
—
Swiss Re America Holding Corporation
1980/1990/2004/2005
320,198
2,164
2,180
0
 
12/31/2018
  
1500 Hughes Way
Long Beach
CA
(11)
Molina Healthcare, Inc.
1981
158,074
580
1,614
0
2019
1/31/2019
  
1600 Viceroy Dr.
Dallas
TX
—
TFC Services, Inc. (Freeman Decorating Company)
1986
116,358
596
744
0
 
4/1/2019
  
9201 Stateline Rd.
Kansas City
MO
—
Swiss Re America Holding Corporation
1963/1973/1985/2003
155,925
1,032
1,032
0
 
6/19/2019
  
3965 Airways Blvd.
Memphis
TN
—
Federal Express Corporation
1982/1983/1985
521,286
3,562
3,507
5,375
 
7/31/2019
  
500 Jackson St.
Columbus
IN
—
Cummins, Inc.
1984
390,100
2,135
2,270
4,925
 
9/30/2019
  
13430 North Black Canyon Fwy.
Phoenix
AZ
—
Brown Mackie College-Phoenix, Inc.
1981/1982
24,834
0
140
0
 
10/31/2019
  
10475 Crosspoint Blvd.
Fishers
IN
—
John Wiley & Sons, Inc.
1999
141,047
1,198
1,134
0
 
12/31/2019
  
850-950 Warrenville Rd.
Lisle
IL
(5)
National Louis University
1985
99,414
662
837
0
2020
1/31/2020
  
10300 Kincaid Dr.
Fishers
IN
(8)
JPMorgan Chase Bank, NA
1999
193,000
1,691
1,388
0
     
130 East Shore Dr.
Glen Allen
VA
—
Sheltering Arms Hospital, Inc.
2000
19,075
0
0
43,861
 
2/14/2020
  
5600 Broken Sound Blvd.
Boca Raton
FL
(6)
Océ Printing Systems USA, Inc. (Oce-USA Holding, Inc.)
1983/2002
136,789
1,081
1,123
0
 
7/8/2020
  
1460 Tobias Gadsen Blvd.
Charleston
SC
(6)
Hagemeyer North America, Inc.
2005
50,076
381
420
0
2021
2/28/2021
  
1500 Hughes Way
Long Beach
CA
(6)(11)
Jacobs Engineering Group, Inc.
1981
85,603
497
497
0
 
3/31/2021
  
1311 Broadfield Blvd.
Houston
TX
—
Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.)
2000
103,260
1,142
952
0
           
(15)
Newpark Drilling Fluids, Inc. (Newpark Resources, Inc.)
2000
52,731
470
575
0
 
6/30/2021
  
1415 Wyckoff Rd.
Wall
NJ
—
New Jersey Natural Gas Company
1983
157,511
1,462
1,462
4,224
 
11/30/2021
  
29 South Jefferson Rd.
Whippany
NJ
—
CAE SimuFlite, Inc.
2006/2008
123,734
1,147
1,164
2,069
2022
12/31/2022
  
147 Milk St.
Boston
MA
—
Harvard Vanguard Medical Assoc.
1910
52,337
766
831
0
2023
3/31/2023
  
6555 Sierra Dr.
Irving
TX
—
TXU Energy Retail Company, LLC (Texas Competitive Electric Holdings Company, LLC)
1999
247,254
1,104
1,476
0
 
7/31/2023
  
11201 Renner Blvd.
Lenexa
KS
(6)
Applebee’s Services, Inc. (DineEquity, Inc.)
2007
178,000
1,755
1,951
0
2025
11/30/2025
  
11707 Miracle Hills Dr.
Omaha
NE
—
Infocrossing, LLC
1988/1995
85,200
583
583
0
 
12/31/2025
  
2005 East Technology Cir.
Tempe
AZ
—
Infocrossing, Inc.
1998
60,000
564
564
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
159,767
0
0
0
     
160 Clairemont Ave.
Decatur
GA
—
(Available for Lease)
1983
63,041
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
0
1,190
1,190
0
     
255 California St.
San Francisco
CA
(9)
(Available for Lease)
1959
37,305
0
0
0
     
350 Pine St.
Beaumont
TX
—
(Available for Lease)
1981
80,459
0
0
0
     
5550 Tech Center Dr.
Colorado Springs
CO
(7)
(Available for Lease)(Prior tenant Federal Express Corporation)
1982/2006
61,690
280
249
0
     
6277 Sea Harbor Dr.
Orlando
FL
(7)
(Available for Lease)(Prior tenant Harcourt Brace Jovanovich, Inc.)
1984
355,840
3,019
2,792
0
     
6301 Gaston Ave.
Dallas
TX
—
(Available for Lease)
1970/1981
67,073
0
0
0
     
1032 Fort St. Mall
Honolulu
HI
—
Parking Operators
1979/2002
0
589
589
0
     
13430 North Black Canyon Fwy.
Phoenix
AZ
—
(Available for Lease)
1981/1982
25,309
0
0
0
 
Page 16 of 47
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 06/30/09
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
6/30/2009
($000) (2)
GAAP
 Base Rent 
as of
6/30/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
     
100 East Shore Dr.
Glen Allen
VA
—
(Available for Lease)
1999
3,263
0
0
0
     
101 East Erie St.
Chicago
IL
—
(Available for Lease)
1986
12,270
0
0
0
     
King St.
Honolulu
HI
—
(Available for Lease)
1979/2002
11,367
0
0
0
     
9950 Mayland Dr.
Richmond
VA
(7)
(Available for Lease)(Prior tenant Circuit City Stores, Inc.)
1990
288,000
477
477
0
     
17770 Cartwright Rd.
Irvine
CA
(13)
(Available for Lease)
1982
28,213
0
0
0
Various
Various
  
100 Light St.
Baltimore
MD
—
Multi-Tenant
1973
139,200
2,283
2,283
0
     
160 Clairemont Ave.
Decatur
GA
—
Multi-Tenant
1983
58,645
415
415
0
     
255 California St.
San Francisco
CA
(9)
Multi-Tenant
1959
136,150
1,820
1,914
0
     
350 Pine St.
Beaumont
TX
—
Multi-Tenant
1981
212,288
1,762
1,769
0
     
6301 Gaston Ave.
Dallas
TX
—
Multi-Tenant
1970/1981
90,351
689
689
0
     
100 East Shore Dr.
Glen Allen
VA
—
Multi-Tenant
1999
64,245
645
655
0
     
King St.
Honolulu
HI
—
Multi-Tenant
1979/2002
227,924
659
655
0
     
17770 Cartwright Rd.
Irvine
CA
(13)
Multi-Tenant
1982
114,952
1,168
1,279
0
OFFICE TOTAL/WEIGHTED AVERAGE
      
92.4% Leased
  
      17,073,112
 $       132,712
 $       132,509
  
 
Page 17 of 47
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 06/30/09
 
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
6/30/2009
($000) (2)
GAAP
 Base Rent 
as of
6/30/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
INDUSTRIAL PROPERTIES
                  
2009
8/31/2009
  
191 Arrowhead Dr.
Hebron
OH
—
Owens Corning Insulating Systems, LLC
1999
102,960
143
143
0
2010
4/30/2010
  
2203 Sherrill Dr.
Statesville
NC
—
LA-Z-Boy Greensboro, Inc. (LA-Z-Boy Inc.)
1999/2002
639,600
824
951
1,813
 
5/31/2010
  
200 Arrowhead Dr.
Hebron
OH
—
Owens Corning Insulating Systems, LLC
2000
400,522
495
477
881
2011
3/31/2011
  
2455 Premier Dr.
Orlando
FL
—
Walgreen Company
1980
205,016
254
393
508
 
5/31/2011
  
291 Park Center Dr.
Winchester
VA
(5)
Kraft Foods North America, Inc.
2001
344,700
804
788
0
 
9/25/2011
  
3820 Micro Dr.
Millington
TN
(6)
Ingram Micro, L.P (Ingram Micro, Inc.)
1997
701,819
1,220
1,185
0
 
9/30/2011
  
1601 Pratt Ave.
Marshall
MI
—
Joseph Campbell Company
1979
58,300
62
62
0
2012
8/4/2012
  
101 Michelin Dr.
Laurens
SC
—
CEVA Logistics US, Inc. (TNT Holdings BV)
1991/1993
1,164,000
1,707
1,652
2,619
     
7111 Crabb Rd.
Temperance
MI
—
CEVA Logistics US, Inc. (TNT Holdings BV)
1978/1993
744,570
1,144
1,107
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
943
917
2,081
 
12/31/2012
  
245 Salem Church Rd.
Mechanicsburg
PA
—
Exel Logistics, Inc. (NFC plc)
1985
252,000
435
433
0
2013
10/31/2013
  
7150 Exchequer Dr.
Baton Rouge
LA
—
Corporate Express Office Products, Inc. (Corporate Express US, Inc.)
1998/2005
79,086
230
220
0
2014
1/2/2014
  
2415 US Hwy. 78 East
Moody
AL
—
CEVA Logistics US, Inc. (TNT Holdings BV)
2004
595,346
527
527
1,054
 
1/31/2014
  
1133 Poplar Creek Rd.
Henderson
NC
—
Corporate Express Office Products, Inc. (Corporate Express US, Inc.)
1998/2006
196,946
413
405
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
202
157
446
     
75 North St.
Saugerties
NY
(14)
Rotron, Inc. (EG&G)
1979
52,000
61
116
122
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
225
244
525
2016
2/28/2016
  
7670 Hacks Cross Rd.
Olive Branch
MS
—
MAHLE Clevite, Inc. (MAHLE Industries, Inc.)
1989
268,104
477
458
0
 
3/31/2016
  
19500 Bulverde Rd.
San Antonio
TX
—
Harcourt, Inc. (Harcourt General, Inc.)
2001
559,258
1,745
1,794
0
 
8/31/2016
  
10590 Hamilton Ave.
Cincinnati
OH
—
The Hillman Group, Inc.
1991/1994/1995/2005
239,500
396
396
0
 
9/30/2016
  
900 Industrial Blvd.
Crossville
TN
—
Dana Commercial Vehicle Products, LLC (Dana Limited)
1989/2006
222,200
342
342
0
2017
2/28/2017
  
3456 Meyers Ave.
Memphis
TN
—
Sears, Roebuck & Company
1973
780,000
796
847
1,592
 
6/30/2017
  
7500 Chavenelle Rd.
Dubuque
IA
—
The McGraw-Hill Companies, Inc.
2002
330,988
576
582
0
 
9/30/2017
  
250 Swathmore Ave.
High Point
NC
—
Steelcase, Inc.
2002
244,851
533
543
1,165
 
10/31/2017
  
1420 Greenwood Rd.
McDonough
GA
—
Versacold USA, Inc.
2000
296,972
1,322
1,298
0
2018
6/30/2018
  
1650-1654 Williams Rd.
Columbus
OH
—
ODW Logistics, Inc.
1973
772,450
674
671
0
 
9/30/2018
  
50 Tyger River Dr.
Duncan
SC
(6)
Plastic Omnium Exteriors, LLC
2005/2007/2008
221,833
479
479
0
2019
4/30/2019
  
113 Wells St.
North Berwick
ME
—
United Technologies Corporation
1965/1980
972,625
768
768
1,200
 
10/17/2019
  
10345 Philipp Pkwy.
Streetsboro
OH
—
L'Oreal USA S/D, Inc. (L’Oreal USA, Inc.)
2004
649,250
1,145
1,305
3,149
2020
3/31/2020
  
2425 Hwy. 77 North
Waxahachie
TX
—
James Hardie Building Products, Inc. (James Hardie, NV)
1996/2001
335,610
1,700
1,700
0
 
6/30/2020
  
3102 Queen Palm Dr.
Tampa
FL
—
Time Customer Service, Inc. (Time, Inc.)
1986
229,605
557
638
0
 
9/30/2020
  
3350 Miac Cove Rd.
Memphis
TN
—
Mimeo.com, Inc.
1987
107,405
188
185
0
 
12/19/2020
  
1901 Ragu Dr.
Owensboro
KY
(12)
Unilever Supply Chain, Inc. (Unilever United States, Inc.)
1975/1979/1995
443,380
524
747
1,802
2021
3/30/2021
  
121 Technology Dr.
Durham
NH
—
Heidelberg Web Systems, Inc.
1986/2002/2003
500,500
840
999
0
 
3/31/2021
  
6050 Dana Way
Antioch
TN
—
W.M Wright Company
1999
338,700
508
508
0
 
5/31/2021
  
477 Distribution Pkwy.
Collierville
TN
—
Federal Express Corporation
1984/1987/2005
120,000
240
202
0
 
11/30/2021
  
2880 Kenny Biggs Rd.
Lumberton
NC
—
Quickie Manufacturing Corporation
1998/2001/2006
423,280
628
678
0
 
12/31/2021
  
224 Harbor Freight Rd.
Dillon
SC
(6)
Harbor Freight Tools USA, Inc. (Central Purchasing, Inc.)
2001/2005
1,010,859
1,494
1,551
0
2025
6/30/2025
  
10000 Business Blvd.
Dry Ridge
KY
—
Dana Light Axle Products, LLC (Dana Limited)
1988/1999
336,350
673
673
1,402
     
4010 Airpark Dr.
Owensboro
KY
—
Dana Structural Products, LLC (Dana Limited)
1998/2006
211,598
604
604
829
     
301 Bill Bryan Rd.
Hopkinsville
KY
—
Dana Structural Products, LLC (Dana Limited)
1989/1999/2000/2005
424,904
844
844
1,512
     
730 North Black Branch Rd.
Elizabethtown
KY
—
Dana Structural Products, LLC (Dana Limited)
2001
167,770
268
268
558
     
750 North Black Branch Rd.
Elizabethtown
KY
—
Dana Structural Products, LLC (Dana Limited)
1995/2000/2001
539,592
1,419
1,419
2,960
 
Page 18 of 47
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 06/30/09
 
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
6/30/2009
($000) (2)
GAAP
 Base Rent 
as of
6/30/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
 
7/31/2025
  
7005 Cochran Rd.
Glenwillow
OH
—
Royal Appliance Manufacturing Company
1997
458,000
972
1,126
2,164
2026
10/31/2026
  
5001 Greenwood Rd.
Shreveport
LA
—
Libbey Glass, Inc. (Libbey, Inc.)
2006
646,000
969
1,083
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
  
      19,800,250
 $        31,370
 $        32,485
  
 
Page 19 of 47
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 06/30/09
 
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
6/30/2009
($000) (2)
GAAP
 Base Rent 
as of
6/30/2009
($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
495
486
990
 
12/31/2009
  
3468 Georgia Hwy. 120
Duluth
GA
—
Bank of America, NA (Bank of America Corporation)
1971
10,341
67
75
133
2010
5/31/2010
  
24th St. West & St. John’s Ave.
Billings
MT
—
Safeway Stores, Inc.
1981
40,800
93
166
186
 
7/1/2010
  
1600 East 23rd St.
Chattanooga
TN
—
BI-LO, LLC
1983
42,130
65
65
134
2011
5/31/2011
  
18601 Alderwood Mall Blvd.
Lynnwood
WA
—
Toys “R” Us, Inc.
1981/1993
43,105
141
149
279
     
4811 Wesley St.
Greenville
TX
—
Safeway Stores, Inc.
1985
48,492
85
121
171
     
12535 Southeast 82nd Ave.
Clackamas
OR
—
Toys “R” Us, Inc.
1981
42,842
153
162
298
     
6910 South Memorial Hwy.
Tulsa
OK
—
Toys “R” Us, Inc.
1981
43,123
129
136
255
 
6/30/2011
  
4733 Hills & Dales Rd.
Canton
OH
—
Bally's Total Fitness of the Midwest, Inc. (Bally's Health & Tennis Corporation)
1987
37,214
223
189
0
 
9/30/2011
  
928 First Ave.
Rock Falls
IL
—
Rock Falls Country Market, LLC (Rock Island Country Market, LLC)
1982
27,650
46
48
140
 
12/29/2011
  
13133 Steubner Ave.
Houston
TX
—
The Kroger Company
1980
52,200
141
202
281
2012
4/30/2012
  
10415 Grande Ave.
Sun City
AZ
—
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1982
10,000
83
132
0
     
119 North Balboa Rd.
El Paso
TX
—
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1982
10,000
83
68
0
     
402 East Crestwood Dr.
Victoria
TX
—
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1982
10,000
83
58
0
     
4121 South Port Ave.
Corpus Christi
TX
—
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1980
10,000
83
68
0
     
900 South Canal St.
Carlsbad
NM
—
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1980
10,000
83
52
0
     
901 West Expwy.
McAllen
TX
—
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
1980
10,000
83
82
0
 
5/31/2012
  
3451 Alta Mesa Blvd.
Fort Worth
TX
—
Minyard Food Stores, Inc.
1985
44,000
152
180
304
 
11/30/2012
  
101 West Buckingham Rd.
Garland
TX
—
Minyard Food Stores, Inc.
1982
40,000
163
163
326
     
120 South Waco St.
Hillsboro
TX
—
Brookshire Grocery
1985
35,000
80
93
161
     
205 Homer Rd.
Minden
LA
—
Brookshire Grocery
1985
35,000
96
143
193
2013
2/28/2013
  
US 221 & Hospital Rd.
Jefferson
NC
—
Food Lion, Inc.
1981
23,000
36
36
73
     
104 Branchwood Shopping Center
Jacksonville
NC
—
Food Lion, Inc.
1982/1995
23,000
42
55
84
     
291 Talbert Blvd.
Lexington
NC
—
Food Lion, Inc.
1981
23,000
69
69
138
     
S. Carolina 52/52 Bypass
Moncks Corner
SC
—
Food Lion, Inc.
1982
23,000
31
62
62
     
3211 West Beverly St.
Staunton
VA
—
Food Lion, Inc.
1971
23,000
83
83
166
 
7/1/2013
  
1053 Mineral Springs Rd.
Paris
TN
—
The Kroger Company
1982
31,170
80
107
159
     
302 Coxcreek Pkwy.
Florence
AL
—
The Kroger Company
1983
42,130
112
156
223
 
10/31/2013
  
1084 East Second St.
Franklin
OH
—
Marsh Supermarkets, Inc.
1961/1978
29,119
56
79
111
     
130 Midland Ave.
Port Chester
NY
—
Pathmark Stores, Inc.
1982
59,000
229
598
458
     
5104 North Franklin Rd.
Lawrence
IN
—
Marsh Supermarkets, Inc.
1958
28,721
97
97
193
2014
3/31/2014
  
N.E.C. 45th St./Lee Blvd.
Lawton
OK
—
Associated Wholesale Grocers, Inc.
1984
30,757
130
71
185
 
12/31/2014
  
1066 Main St.
Forest Park
GA
—
Bank of America, NA (Bank of America Corporation)
1969
14,859
100
93
199
     
201 West Main St.
Cumming
GA
—
Bank of America, NA (Bank of America Corporation)
1968/1982
14,208
99
143
198
     
2223 North Druid Hills Rd.
Atlanta
GA
—
Bank of America, NA (Bank of America Corporation)
1972
6,260
56
48
112
     
4545 Chamblee – Dunwoody Rd.
Chamblee
GA
—
Bank of America, NA (Bank of America Corporation)
1972
4,565
44
37
88
     
825 Southway Dr.
Jonesboro
GA
—
Bank of America, NA (Bank of America Corporation)
1971
4,894
39
32
77
     
956 Ponce de Leon Ave.
Atlanta
GA
—
Bank of America, NA (Bank of America Corporation)
1975
3,900
39
43
78
     
1698 Mountain Industrial Blvd.
Stone Mountain
GA
—
Bank of America, NA (Bank of America Corporation)
1973
5,704
48
45
95
2015
1/25/2015
  
3711 Gateway Dr.
Eau Claire
WI
—
Kohl's Department Stores, Inc.
1994
76,164
234
231
487
 
1/31/2015
  
1700 State Route 160
Port Orchard
WA
—
Save-A-Lot, Ltd.
1983
16,037
41
41
97
2017
3/31/2017
  
1610 South Westmoreland Ave.
Dallas
TX
—
Malone’s Food Stores
1960
68,024
179
239
376
2018
2/26/2018
  
4831 Whipple Ave., Northwest
Canton
OH
—
Best Buy Company, Inc.
1995
46,350
233
233
465
 
Page 20 of 47
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 06/30/09
 
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
6/30/2009
($000) (2)
GAAP
 Base Rent 
as of
6/30/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
     
399 Peachwood Centre Dr.
Spartanburg
SC
—
Best Buy Company, Inc.
1996
45,800
198
198
395
 
9/30/2018
  
835 Julian Ave.
Thomasville
NC
—
Mighty Dollar, LLC
1983
23,767
35
35
0
 
10/31/2018
  
10340 U.S. 19
Port Richey
FL
—
Kingswere Furniture
1980
53,280
250
250
400
 
12/31/2018
  
1150 West Carl Sandburg Dr.
Galesburg
IL
—
Kmart Corporation
1992
94,970
42
164
0
     
12080 Carmel Mountain Rd.
San Diego
CA
—
Sears Holding Corporation
1993
107,210
48
376
0
     
21082 Pioneer Plaza Dr.
Watertown
NY
—
Kmart Corporation
1993
120,727
70
241
0
     
255 Northgate Dr.
Manteca
CA
—
Kmart Corporation
1993
107,489
75
278
0
     
5350 Leavitt Rd.
Lorain
OH
—
Kmart Corporation
1993
193,193
106
366
0
     
97 Seneca Trail
Fairlea
WV
—
Kmart Corporation
1993/1999
90,933
49
173
0
2021
1/31/2021
  
3040 Josey Ln.
Carrollton
TX
—
Ong’s Family, Inc.
1984
61,000
133
202
0
2028
1/31/2028
  
2010 Apalachee Pkwy.
Tallahassee
FL
—
Kohl’s Department Stores, Inc.
2007
102,381
200
210
484
 
8/31/2028
  
9803 Edmonds Way
Edmonds
WA
—
PCC Natural Markets
1981
34,459
301
301
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
  
86.6% Leased
  
        2,679,411
                6,398
                8,386
  
                         
 
TOTAL CONSOLIDATED PORTFOLIO/WEIGHTED AVERAGE
  
91.04% Leased
  
      39,552,773
             170,480
             173,380
  

Footnotes
(1)    Square foot leased or vacant.
(2)    Six months ended 06/30/09 cash rent.
(3)    Six months ended 06/30/09 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 (Roche Diagnostics Operations) effective 11/1/09 which 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.
(15)  Current lease ends 08/09, however, new tenant (Transocean Offshore Deepwater Drilling, Inc.) lease expires 03/2021.
(16)  Current lease ends 05/13, however, new tenant (Problem Solved, LLC) lease expires 05/2014.
(17)  Lease entered into with new tenant (Reckitt Benckiser, Inc.) effective 02/2010 for 163,386 square feet which expires 01/2016.
(18)  Lease entered into with subtenant (Cadbury Schweppes Holdings) effective 02/2010 which expires 06/2015.
 
Page 21 of 47
 
LEXINGTON REALTY TRUST
Property Leases and Vacancies -  Net Lease Strategic Assets Fund Portfolio - 06/30/09

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
6/30/2009
($000) (2)
GAAP
Base Rent
as of
6/30/2009
($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
318
293
0
2010
10/31/2010
  
265 Lehigh St.
Allentown
PA
—
Wachovia Bank, NA
1980
71,230
124
285
261
     
5201 West Barraque St.
Pine Bluff
AR
—
Entergy Services, Inc.
1964/1973
27,189
96
96
192
2011
5/31/2011
  
1200 Jupiter Rd.
Garland
TX
—
Raytheon Company
1980
278,759
753
1,027
1,588
 
7/15/2011
  
19019 North 59th Ave.
Glendale
AZ
—
Honeywell International, Inc.
1986/1997/2000
252,300
1,227
1,555
0
2012
4/30/2012
  
3600 Army Post Rd.
Des Moines
IA
(6)
Electronic Data Systems, LLC
2002
405,000
1,441
1,484
0
 
5/31/2012
  
101 Creger Dr.
Ft. Collins
CO
—
Lithia Motors
1982
10,000
138
118
0
2013
5/31/2013
  
2401 Cherahala Blvd.
Knoxville
TN
—
Advance PCS, Inc.
2002
59,748
450
450
0
 
6/30/2013
  
420 Riverport Rd.
Kingsport
TN
—
Kingsport Power Company
1981
42,770
155
153
310
     
8555 South River Pkwy.
Tempe
AZ
(6)
ASM Lithography, Inc. (ASM Lithography Holding, NV)
1998
95,133
1,177
1,105
0
 
10/14/2013
  
3943 Denny Ave.
Pascagoula
MS
—
Northrop Grumman Systems Corporation
1995
94,841
319
319
0
 
12/31/2013
  
120 Southeast Pkwy. Dr.
Franklin
TN
—
Essex Group, Inc. (United Technologies Corporation)
1970/1983
289,330
368
327
735
2014
1/31/2014
  
1401 & 1501 Nolan Ryan Pkwy.
Arlington
TX
—
Siemens Dematic Postal Automation, LP
2003
236,547
1,336
1,340
0
 
4/30/2014
  
12000 & 12025 Tech Center Dr.
Livonia
MI
(6)
Kelsey-Hayes Company (TRW Automotive, Inc.)
1987/1988/1990
180,230
994
1,037
0
 
6/30/2014
  
70 Mechanic St.
Foxboro
MA
—
Invensys Systems, Inc. (Siebe, Inc.)
1965/1967/1971
251,914
3,061
2,855
2,817
 
12/31/2014
  
324 Industrial Park Rd.
Franklin
NC
(5)
SKF USA, Inc.
1996
72,868
212
212
0
2015
6/30/2015
  
2935 Van Vactor Dr.
Plymouth
IN
—
Bay Valley Foods, LLC
2000/2003
300,500
391
405
853
     
3711 San Gabriel
Mission
TX
—
VoiceStream PCS II Corporation (T-Mobile USA, Inc.)
2003
75,016
450
510
0
     
2500 Patrick Henry Pkwy.
McDonough
GA
—
Georgia Power Company
1999
111,911
737
768
0
     
1700 47th Ave North
Minneapolis
MN
(5)
Owens Corning Roofing and Asphalt, LLC
2003
18,620
294
294
0
 
9/27/2015
  
9110 Grogans Mill Rd.
Houston
TX
—
Baker Hughes, Inc.
1992
275,750
1,755
1,574
0
     
2529 West Thorne Dr.
Houston
TX
—
Baker Hughes, Inc.
1982/1999
66,243
484
424
0
2016
1/31/2016
  
1600 Eberhardt Rd.
Temple
TX
—
Nextel of Texas
2001
108,800
761
808
0
 
7/14/2016
  
6455 State Hwy. 303 Northeast
Bremerton
WA
—
Nextel West Corporation
2002
60,200
542
581
0
 
9/30/2016
  
1440 East 15th St.
Tucson
AZ
—
Cox Communications, Inc.
1988
28,591
242
276
0
 
11/30/2016
  
736 Addison Rd.
Erwin
NY
(6)
Corning, Inc.
2006
408,000
575
575
0
2017
12/31/2017
  
11411 North Kelly Ave.
Oklahoma City
OK
—
American Golf Corporation
1991/1996
13,924
238
239
0
2018
3/15/2018
  
601 & 701 Experian Pkwy.
Allen
TX
—
Experian Information Solutions, Inc. (Experian North America)
1981/1983
292,700
1,533
1,860
0
 
8/31/2018
  
3500 North Loop Rd.
McDonough
GA
—
Litton Loan Servicing, LP
2007
62,218
559
559
0
 
9/30/2018
  
904 Industrial Rd.
Marshall
MI
—
Tenneco Automotive Operating Company, Inc. (Tenneco, Inc.)
1968/1972
246,508
383
401
925
2019
1/31/2019
  
2999 Southwest 6th St.
Redmond
OR
—
VoiceStream PCS I, LLC (T-Mobile USA, Inc.)
2004
77,484
718
786
0
 
6/28/2019
  
3265 East Goldstone Dr.
Meridian
ID
(6)
VoiceStream PCS Holding, LLC  (T-Mobile USA, Inc.)
2004
77,484
619
682
0
 
10/31/2019
  
17191 St. Luke's Way
The Woodlands
TX
—
Montgomery County Management Company, LLC
2004
41,000
399
493
0
     
9601 Renner Blvd.
Lenexa
KS
(6)
VoiceStream PCS II Corporation (T-Mobile USA, Inc.)
2004
77,484
634
696
0
2020
5/31/2020
  
359 Gateway Dr.
Lavonia
GA
—
TI Group Automotive Systems, LLC (TI Automotive, Ltd.)
2005
133,221
600
600
0
 
6/30/2020
  
10419 North 30th St.
Tampa
FL
—
Time Customer Service, Inc.
1986
132,981
629
678
0
 
8/31/2020
  
First Park Dr.
Oakland
ME
(6)
Omnipoint Holdings, Inc. (T-Mobile USA, Inc.)
2005
78,610
628
575
0
 
11/30/2020
  
11555 University Blvd.
Sugar Land
TX
—
KS Management Services, LLP (St. Luke’s Episcopal Health System Corporation)
2005
72,683
557
626
0
 
 
Page 22 of 47
 

LEXINGTON REALTY TRUST
Property Leases and Vacancies -  Net Lease Strategic Assets Fund Portfolio - 06/30/09

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
6/30/2009
($000) (2)
GAAP
Base Rent
as of
6/30/2009
($000) (3)
Fixed Rent
at
Next Option
($000) (4)
2021
10/25/2021
  
6938 Elm Valley Dr.
Kalamazoo
MI
—
Dana Commercial Vehicle Products, LLC (Dana Limited)
1999/2004
150,945
921
966
0
2025
7/14/2025
  
590 Ecology Ln.
Chester
SC
—
Owens Corning, Inc.
2001/2005
420,597
1,093
1,084
1,678
2026
8/31/2026
  
25500 State Hwy. 249
Tomball
TX
—
Parkway Chevrolet, Inc. (R. Durdin, J. Durdin)
2005
77,076
637
753
0
2027
4/30/2027
  
2424 Alpine Rd.
Eau Claire
WI
(6)
Silver Spring Gardens, Inc. (Huntsinger Farms, Inc.)
1993/2004
159,000
465
586
0
 
NET LEASE STRATEGIC ASSETS FUND TOTAL/WEIGHTED AVERAGE
  
100.0% Leased
  
6,104,205
 $    29,013 $   30,455   
 
Footnotes
(1)
Square foot leased or vacant.
(2)
Six months ended 06/30/09 cash rent.
(3)
Six months ended 06/30/09 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 47
 

LEXINGTON REALTY TRUST
Lease Rollover Schedule by Property Type - Cash Basis
6/30/2009

   
Office
    
Industrial
    
Retail
  
Year
  
Net Rentable
Area
    
Cash Rent
as of
6/30/2009
($000)
    
Net Rent
PSF
    
Net Rentable
Area
    
Cash Rent
as of
6/30/2009
($000)
    
Net Rent
PSF
    
Net Rentable
Area
    
Cash Rent
as of
6/30/2009
($000)
    
Net Rent
PSF
  
2009
     767,295     $ 6,326     $ 16.49       102,960     $ 143     $ 2.78       95,951     $ 562     $ 11.71  
2010
     498,906     $ 3,258     $ 13.06       1,040,122     $ 1,319     $ 2.54       82,930     $ 158     $ 3.81  
2011
     432,762     $ 4,349     $ 20.10       1,309,835     $ 2,340     $ 3.57       294,626     $ 918     $ 6.23  
2012
     1,554,558     $ 11,331     $ 14.58       2,450,703     $ 4,229     $ 3.45       214,000     $ 989     $ 9.24  
2013
     1,690,567     $ 11,952     $ 14.14       79,086     $ 230     $ 5.82       305,140     $ 835     $ 5.47  
2014
     2,576,618     $ 22,874     $ 17.76       934,292     $ 1,203     $ 2.58       85,147     $ 555     $ 13.04  
2015
     1,886,461     $ 14,307     $ 15.17       150,000     $ 225     $ 3.00       92,201     $ 275     $ 5.97  
2016
     873,832     $ 9,507     $ 21.76       1,289,062     $ 2,960     $ 4.59       -     $ -     $ -  
2017
     251,808     $ 1,819     $ 14.45       1,652,811     $ 3,227     $ 3.90       68,024     $ 179     $ 5.26  
2018
     1,207,224     $ 10,165     $ 16.84       994,283     $ 1,153     $ 2.32       883,719     $ 1,106     $ 2.50  
2019
     1,448,964     $ 9,185     $ 12.68       1,621,875     $ 1,913     $ 2.36       -     $ -     $ -  
2020
     398,940     $ 3,153     $ 15.81       1,116,000     $ 2,969     $ 5.32       -     $ -     $ -  
2021
     522,839     $ 4,718     $ 18.05       2,393,339     $ 3,710     $ 3.10       61,000     $ 133     $ 4.36  
2022
     52,337     $ 766     $ 29.27       -     $ -     $ -       -     $ -     $ -  
2023
     425,254     $ 2,859     $ 13.45       -     $ -     $ -       -     $ -     $ -  
2024
     -     $ -     $ -       -     $ -     $ -       -     $ -     $ -  
2025
     145,200     $ 1,147     $ 15.80       2,138,214     $ 4,780     $ 4.47       -     $ -     $ -  
2026
     -     $ -     $ -       646,000     $ 969     $ 3.00       -     $ -     $ -  
2027
     -     $ -     $ -       -     $ -     $ -       -     $ -     $ -  
2028
     -     $ -     $ -       -     $ -     $ -       136,840     $ 501     $ 7.32  
                                                                         
Total/Weighted Average (1)
     14,733,565     $ 117,716     $ 15.98       17,918,582     $ 31,370     $ 3.50       2,319,578     $ 6,211     $ 5.36  

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

 
Page 24 of 47
 

LEXINGTON REALTY TRUST
Lease Rollover Schedule - GAAP Basis
6/30/2009

Year
  
Number of
Leases
Expiring
    
GAAP Base
Rent as of
06/30/2009
($000)
    
Percent of
GAAP Base Rent
as of
6/30/2009
  
2009
  
7
     $ 7,282      
4.6%
  
2010
  
12
     $ 4,863      
3.1%
  
2011
  
16
     $ 7,643      
4.8%
  
2012
  
29
 
   $ 16,189      
10.2%
  
2013
  
24
    $ 14,032      
8.9%
  
2014
  
31
     $ 23,954      
15.1%
  
2015
  
15
     $ 13,114    
 
8.3%
  
2016
  
13
     $ 12,329      
7.8%
  
2017
  
8
     $ 5,569      
3.5%
  
2018
  
21
     $ 14,632    
 
9.2%
  
2019
  
9
     $ 11,737      
7.4%
  
2020
  
8
     $ 6,201      
3.9%
  
2021
  
11
     $ 8,790      
5.6%
  
2022
  
1
     $ 831      
0.5%
  
2023
  
2
     $ 3,427      
2.2%
  
2024
  
-
     $ -      
0.0%
  
2025
  
8
 
  $ 6,081      
3.8%
  
2026
 
1
 
   $ 1,083    
 
0.7%
  
2027
  
-
     $ -    
 
0.0%
  
2028
  
2
     $ 511      
0.3%
  
Total (1)
  
218
     $ 158,268      
100.0%
  
  
Footnotes
(1) Total shown may differ from detailed amounts due to rounding, and does not include multi-tenant properties.
  
 
 
Page 25 of 47
 

LEXINGTON REALTY TRUST
2009 Second Quarter Financing Summary
 
 
NEW CORPORATE LEVEL FINANCING
                
     
Amount 
($000)
      
Rate
    
Maturity
          
1
Corporate line (1)(2)
   $ 40,000      
LIBOR + 285bps
      
02/2011
          
1
TOTAL FINANCING
   $ 40,000      
 
      
 
          
 
 
DEBT RETIRED
                        
     
Face
($000)
    
Payoff
($000)
    
Rate
    
Due Date
  
1 
Exchangeable Guaranteed Notes
   $ 54,100     $ 44,569       5.45 %    
01/2012
  
2
Henderson, NC
   $ 3,854     $ 3,854       7.39 %    
05/2009
  
3
Hilliard, OH
   $ 28,960     $ 28,960       5.91 %    
02/2021
  
4
Coppell, TX
   $ 14,400     $ 14,400       5.71 %    
06/2017
  
5
Danville, IL
   $ 5,954     $ 5,954       9.00 %    
01/2016
  
5
TOTAL RETIRED
   $ 107,268     $ 97,737                  

Footnotes
(1) Secured by a borrowing base pool of 73 properties, maturity can be extended to 02/2012.
(2) Brings total secured corporate facility to $290,000; $200,000 outstanding at 6/30/09.
 
 
Page 26 of 47
 

LEXINGTON REALTY TRUST
Mortgage Maturity Schedule
6/30/2009
($000)
 
Consolidated Properties
Year
  
Real Estate
Scheduled
Amortization (1)
    
Real Estate
Balloon Payments (1)
    
Corporate Debt
  
2009
   $ 16,117     $ 51,189     $ -  
2010
     34,360       95,320       -  
2011
     30,918       88,672       200,000  
2012
     30,940       191,034       134,400  
2013
     26,856       234,937       60,723  
    $ 139,191     $ 661,152     $ 395,123  

 
Non-Consolidated Investments - LXP Proportionate Share
  
Year
  
Real Estate
Scheduled
Amortization
    
Real Estate
Balloon Payments
    
Concord
Balloon
Payments
  
2009
   $ 1,087     $ 9,034     $ 32,289  
2010
     2,863       1,140       69,650  
2011
     2,922       6,903       -  
2012
     3,020       3,323       29,807  
2013
     3,194       2,496       -  
    $ 13,086     $ 22,896     $ 131,746  

Footnotes
(1) Excludes former Circuit City location, last debt service paid 3/1/09, property in receivership.

 
Page 27 of 47
 

LEXINGTON REALTY TRUST
2009 Mortgage Maturities by Property Type
6/30/2009

   
Property Location
City
State
  
Net Rentable
Area
    
Mortgage Balance
at Maturity
($000)
    
Maturity
Date
    
Original Gross 
Book Value
($000) (1)
    
Annualized
Cash Rent
as of
6/30/2009 ($000)
    
Annualized
GAAP
Base Rent
as of
6/30/2009
($000)
  
Office
  
15375 Memorial Dr.
Houston
TX
    
349,674
     $ 18,229      
10/2009
     $ 45,792     $ 3,600     $ 4,250  
   
255 California St. (3)
San Francisco
CA
  
 
173,455
     $ 20,000      
12/2009
     $ 54,014     $ 3,640     $ 3,828  
   
295 Chipeta Way
Salt Lake City
UT
    
295,000
     $ -      
10/2009
     $ 55,404     $ 6,322     $ 6,322  
   
5724 West Las Positas Blvd. (3)
Pleasanton
CA
    
40,914
     $ 3,808      
12/2009
     $ 6,544     $ 826     $ 680  
Industrial
  
250 Swathmore Ave.
High Point
NC
    
244,851
     $ 7,741      
10/2009
     $ 13,248     $ 1,066     $ 1,086  
   
7150 Exchequer Dr. (2)
Baton Rouge
LA
    
79,086
     $ 1,411      
11/2009
     $ 4,001     $ 460     $ 440  
Retail
  
35400 Cowan Rd.
Westland
MI
    
101,402
     $ -      
09/2009
     $ 7,221     $ 126     $ 126  
                                                         
   
Total 2009 Mortgage Maturities
        
1,284,382
     $ 51,189             $ 186,224     $ 16,040     $ 16,732  

Footnotes
(1) Represents original GAAP capitalized costs.
(2) Neither the lender nor Lexington elected to call/put debt at 7/1/09. Earliest call/put date is currently 11/1/09.
(3) 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 47
 

LEXINGTON REALTY TRUST
2010 Mortgage Maturities by Property Type
6/30/2009

   
Property Location
City
State
  
Net Rentable
Area
    
Mortgage Balance
at Maturity
($000)
    
Maturity
Date
    
Original Gross 
Book Value
($000) (1)
    
Annualized
Cash Rent
as of
6/30/2009
($000)
    
Annualized
GAAP
Base Rent
as of
6/30/2009
($000)
  
Office
  
10300 Kincaid Dr.
Fishers
IN
    
193,000
     $ 12,960      
04/2010
     $ 28,639     $ 3,382     $ 2,776  
   
13651 McLearen Rd.
Herndon
VA
    
159,664
     $ 17,301      
12/2010
     $ 27,789     $ 2,968     $ 3,386  
   
400 Butler Farm Rd.
Hampton
VA
    
100,632
     $ 6,758      
04/2010
     $ 11,969     $ 1,206     $ 1,242  
   
421 Butler Farm Rd.
Hampton
VA
    
56,515
     $ 4,144      
04/2010
     $ 6,793     $ 782     $ 718  
   
550 Business Center Dr.
Lake Mary
FL
    
125,920
     $ 12,082      
10/2010
     $ 23,958     $ 3,048     $ 1,744  
   
600 Business Center Dr.
Lake Mary
FL
    
125,155
     $ 12,118      
10/2010
     $ 23,846     $ 3,148     $ 1,660  
   
6555 Sierra Dr.
Irving
TX
    
247,254
     $ 24,454      
10/2010
     $ 46,661     $ 2,208     $ 2,952  
Industrial
  
3102 Queen Palm Dr.
Tampa
FL
    
229,605
     $ 5,503      
08/2010
     $ 9,648     $ 1,114     $ 1,276  
Retail
  
1150 West Carl Sandburg Dr.
Galesburg
IL
    
94,970
     $ -      
07/2010
     $ 2,884     $ 84     $ 328  
   
12080 Carmel Mountain Rd.
San Diego
CA
    
107,210
     $ -      
07/2010
     $ 5,463     $ 96     $ 752  
   
21082 Pioneer Plaza Dr.
Watertown
NY
  
 
120,727
     $ -      
07/2010
     $ 5,316     $ 140     $ 482  
   
255 Northgate Dr.
Manteca
CA
    
107,489
     $ -      
07/2010
     $ 6,509     $ 150     $ 556  
   
5350 Leavitt Rd.
Lorain
OH
    
193,193
     $ -      
07/2010
     $ 8,513     $ 212     $ 732  
   
97 Seneca Trail
Fairlea
WV
    
90,933
     $ -      
07/2010
     $ 3,360     $ 98     $ 346  
                                                         
   
Total 2010 Mortgage Maturities (2)
         1,952,267     $ 95,320             $ 211,348     $ 18,636     $ 18,950  

Footnotes
(1) Represents original GAAP capitalized costs.
(2) Excludes former Circuit City location, last debt service paid 3/1/09, property in receivership.

 
Page 29 of 47
 
 
LEXINGTON REALTY TRUST
2011 Mortgage Maturities by Property Type
6/30/2009

   
Property Location
City
State
  
Net Rentable
Area
    
Mortgage
Balance
at Maturity
($000)
    
Maturity
Date
    
Original Gross
Book Value
($000) (1)
    
Annualized
Cash Rent
as of
6/30/2009
($000)
    
Annualized
GAAP
Base Rent
as of
6/30/2009
($000)
  
Office
  
100 Barnes Rd.
Wallingford
CT
    
44,400
     $ 3,187      
05/2011
     $ 5,525     $ 654     $ 606  
   
15/17 Nijborg
Renswoude
The Netherlands
    
131,805
     $ 34,592      
04/2011
     $ 45,541     $ 3,332     $ 2,724  
   
389-399 Interpace Hwy.
Parsippany
NJ
    
340,240
     $ 37,047      
03/2011
     $ 106,602     $ 9,226     $ 9,050  
Industrial
  
291 Park Center Dr.
Winchester
VA
    
344,700
     $ 9,675      
08/2011
     $ 18,865     $ 1,608     $ 1,576  
   
46600 Port St.
Plymouth
MI
    
134,160
     $ 4,171      
07/2011
     $ 7,663     $ -     $ -  
                                                         
   
Total 2011 Mortgage Maturities
        
995,305
     $ 88,672             $ 184,196     $ 14,820     $ 13,956  

Footnotes
(1) Represents original GAAP capitalized costs.

 
Page 30 of 47
 

LEXINGTON REALTY TRUST
2012 Mortgage Maturities by Property Type
6/30/2009

   
Property Location
City
State
  
Net Rentable
Area
    
Mortgage Balance
at Maturity
($000)
    
Maturity
Date
    
Original Gross
Book Value
($000) (1)
    
Annualized
Cash Rent
as of
6/30/2009
($000)
    
Annualized
GAAP
Base Rent
as of
6/30/2009
($000)
  
Office
  
1110 Bayfield Dr.
Colorado Springs
CO
    
166,575
     $ 10,272      
12/2012
     $ 19,579     $ 1,744     $ 1,600  
   
1315 West Century Dr.
Louisville
CO
    
106,877
     $ 7,195      
01/2012
     $ 16,933     $ 1,294     $ 1,600  
   
200 Lucent Ln.
Cary
NC
    
124,944
     $ 12,543      
05/2012
     $ 23,881     $ 2,214     $ 2,058  
   
2000 Eastman Dr.
Milford
OH
    
221,215
     $ 12,686      
02/2012
     $ 26,333     $ 2,486     $ 1,922  
   
2050 Roanoke Rd.
Westlake
TX
    
130,290
     $ 17,829      
05/2012
     $ 32,697     $ 3,660     $ 3,454  
   
26210 and 26220 Enterprise Court
Lake Forest
CA
    
100,012
     $ 9,708      
02/2012
     $ 17,211     $ 1,910     $ 1,792  
   
37101 Corporate Dr.
Farmington Hills
MI
    
119,829
     $ 17,724      
09/2012
     $ 32,876     $ 3,074     $ 2,442  
   
3940 South Teller St.
Lakewood
CO
    
68,165
     $ 7,890      
05/2012
     $ 12,155     $ 1,170     $ 868  
   
4455 American Way
Baton Rouge
LA
    
70,100
     $ 5,948      
10/2012
     $ 13,868     $ 1,104     $ 1,114  
Industrial
  
101 Michelin Dr.
Laurens
SC
    
1,164,000
     $ 14,022      
09/2012
     $ 34,460     $ 3,414     $ 3,304  
   
19500 Bulverde Rd.
San Antonio
TX
    
559,258
     $ 26,025      
10/2012
     $ 41,882     $ 3,490     $ 3,588  
   
245 Salem Church Rd.
Mechanicsburg
PA
    
252,000
     $ 4,514      
01/2012
     $ 9,085     $ 870     $ 866  
   
34 East Main St.
New Kingstown
PA
    
179,200
     $ 2,914      
01/2012
     $ 6,034     $ -     $ -  
   
3820 Micro Dr.
Millington
TN
  
 
701,819
     $ 16,222      
05/2012
     $ 24,870     $ 2,440     $ 2,370  
   
43955 Plymouth Oaks Blvd.
Plymouth
MI
    
290,133
     $ 10,026      
12/2012
     $ 19,161     $ 1,886     $ 1,834  
   
6 Doughten Rd.
New Kingstown
PA
    
330,000
     $ 6,116      
01/2012
     $ 12,342     $ -     $ -  
   
7111 Crabb Rd.
Temperance
MI
    
744,570
     $ 9,400      
09/2012
     $ 21,249     $ 2,288     $ 2,214  
                                                         
   
Total 2012 Mortgage Maturities
        
5,328,987
     $ 191,034             $ 364,616     $ 33,044     $ 31,026  

Footnotes
(1) Represents original GAAP capitalized costs.

 
Page 31 of 47
 
 
LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
6/30/2009
 
Property
  
Footnotes
  
Debt Balance
($000)
    
Interest Rate
(%)
    
Maturity (a)
    
Current
Estimated
Annual Debt
Service
($000) (d)
    
Balloon
Payment
($000)
  
Westland, MI
       $ 168       10.500 %    
09/2009
       170       -  
Houston, TX
  
(b)
     18,443       6.400 %    
10/2009
       677       18,229  
High Point, NC
         7,783       5.750 %    
10/2009
       152       7,741  
Salt Lake City, UT
         712       7.610 %    
10/2009
       725       -  
Baton Rouge, LA
  
(m)
     1,437       7.375 %    
11/2009
       52       1,411  
San Francisco, CA
         20,549       3.893 %    
12/2009
       879       20,000  
Pleasanton, CA
         3,944       10.250 %    
12/2009
       335       3,808  
Fishers, IN
  
(b)
     13,438       6.516 %    
04/2010
       1,195       12,960  
Hampton, VA
         6,839       8.270 %    
04/2010
       556       6,758  
Hampton, VA
         4,194       8.260 %    
04/2010
       346       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
         5,608       6.880 %    
08/2010
       485       5,503  
Irving, TX
  
(b)
     25,408       6.587 %    
10/2010
       2,432       24,454  
Lake Mary, FL
  
(b)
     12,575       6.502 %    
10/2010
       1,181       12,118  
Lake Mary, FL
  
(b)
     12,538       6.502 %    
10/2010
       1,178       12,082  
Herndon, VA
         17,682       8.180 %    
12/2010
       1,723       17,301  
Parsippany, NJ
  
(b)
     38,754       6.349 %    
03/2011
       3,472       37,047  
Renswoude, NA
         36,094       5.305 %    
04/2011
       2,783       34,592  
Wallingford, CT
         3,294       4.926 %    
05/2011
       221       3,187  
Plymouth, MI
         4,335       7.960 %    
07/2011
       421       4,171  
Winchester, VA
  
(b)
     10,251       6.346 %    
08/2011
       908       9,675  
Louisville, CO
         7,470       5.830 %    
01/2012
       544       7,195  
New Kingston, PA
         6,556       7.790 %    
01/2012
       678       6,116  
Mechanicsburg, PA
         4,839       7.780 %    
01/2012
       500       4,514  
New Kingston, PA
         3,123       7.780 %    
01/2012
       323       2,914  
Milford, OH
  
(b)
     14,964       6.612 %    
02/2012
       1,822       12,686  
Lake Forest, CA
         10,145       7.260 %    
02/2012
       901       9,708  
Westlake, TX
  
(b)
     18,625       5.392 %    
05/2012
       1,280       17,829  
Millington, TN
         17,055       5.247 %    
05/2012
 
     1,181       16,222  
Cary, NC
  
(b)
     12,685       5.584 %    
05/2012
       661       12,543  
Lakewood, CO
         8,306       5.097 %    
05/2012
       566       7,890  
Farmington Hills, MI
  
(b)
     19,048       5.723 %    
09/2012
       1,500       17,724  
Laurens, SC
  
(b)
     15,617       5.911 %    
09/2012
       1,396       14,022  
Temperance, MI
  
(b)
     10,469       5.912 %    
09/2012
       936       9,400  
Baton Rouge, LA
  
(b)
     6,316       5.333 %    
10/2012
       443       5,948  
San Antonio, TX
         27,944       6.080 %    
10/2012
       2,260       26,025  
Plymouth, MI
  
(b)
     11,347       5.964 %    
12/2012
       1,026       10,026  
Colorado Springs, CO
  
(b)
     11,077       5.996 %    
12/2012
       887       10,272  
Fort Mill, SC
         10,628       6.000 %    
01/2013
       839       9,904  
Centennial, CO
  
(b)
     14,852       5.724 %    
02/2013
       1,177       13,555  
Los Angeles, CA
  
(b)
     76,881       5.734 %    
05/2013
       5,361       73,071  
Atlanta, GA
         43,285       5.268 %    
05/2013
       3,004       40,356  
Dallas, TX
  
(b)
     38,824       5.452 %    
05/2013
       2,702       36,466  
 
Page 32 of 47
 
LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
6/30/2009
 
Property
  
Footnotes
  
Debt Balance
($000)
    
Interest Rate
(%)
    
Maturity (a)
    
Current
Estimated
Annual Debt
Service
($000) (d)
    
Balloon
Payment
($000)
  
Houston, TX
         16,890       5.218 %    
05/2013
       1,166       15,737  
Southington, CT
         13,156       5.018 %    
05/2013
       890       12,228  
Indianapolis, IN
         9,201       5.168 %    
05/2013
       633       8,580  
Fort Meyers, FL
         8,912       5.268 %    
05/2013
       485       8,550  
Phoenix, AZ
         18,261       6.270 %    
09/2013
       1,527       16,490  
Foxboro, MA
  
(b)
     13,902       6.000 %    
01/2014
       3,369       -  
Moody, AL
         7,043       4.978 %  
 
01/2014
       493       6,350  
Logan Township, NJ
  
(b)
     7,207       5.545 %    
04/2014
       482       6,784  
Clive, IA
         5,658       5.139 %    
05/2014
       387       5,151  
Fort Mill, SC
         19,853       5.373 %    
05/2014
       1,364       18,311  
Philadelphia, PA
         47,676       5.060 %    
07/2014
       3,178       43,547  
Eau Claire, WI
         1,287       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)
     31,808       5.665 %    
12/2014
 
     1,821       30,388  
Canonsburg, PA
  
(b)
     9,075       5.426 %    
12/2014
 
 
 
489
       9,095  
Chicago, IL
  
(b)
     29,132       5.639 %    
01/2015
       1,548       29,900  
Carrollton, TX
         13,574       5.530 %    
01/2015
       993       12,022  
Herndon, VA
  
(b)
     11,653       5.885 %    
04/2015
       888       10,359  
Richmond, VA
  
(b)
     19,541       5.377 %  
 
05/2015
       1,070       18,321  
Houston, TX
         16,206       5.160 %
 
  
05/2015
       1,114       14,408  
Rockaway, NJ
         14,900       5.292
%
    
05/2015
       799       14,900  
Houston, TX
         12,658       5.210 %    
05/2015
       874       11,265  
Fishers, IN
         12,583       5.160 %    
05/2015
 
     865       11,188  
San Antonio, TX
         12,515       5.340 %    
05/2015
       875       11,149  
Atlanta, GA
         11,325       5.260 %    
05/2015
       628       10,502  
Los Angeles, CA
         10,973       5.110 %    
05/2015
       750       9,760  
Richmond, VA
         10,154       5.310 %    
05/2015
       708       9,055  
Harrisburg, PA
         8,771       5.110 %    
05/2015
 
     599       7,780  
Knoxville, TN
         7,466       5.310 %    
05/2015
 
     520       6,658  
Tulsa, OK
         7,343       5.060 %    
05/2015
 
     499       6,517  
Carrollton, TX
  
(b)
     20,201       5.725 %    
07/2015
       1,382       18,710  
Elizabethtown, KY
  
(j)
     15,267       4.990 %    
07/2015
 
     1,046       13,417  
Hopkinsville, KY
         8,949       4.990 %    
07/2015
       613       7,864  
Dry Ridge, KY
  
(o)
     6,583       4.990 %    
07/2015
       451       5,785  
Owensboro, KY
  
(o)
     5,856       4.990 %    
07/2015
       401       5,146  
Elizabethtown, KY
  
(j)
     2,880       4.990 %  
 
07/2015
       197       2,531  
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  
Bridgewater, NJ
         14,805       5.732 %    
03/2016
       860       13,825  
Omaha, NE
         8,614       5.610 %    
04/2016
       621       7,560  
Tempe, AZ
         8,146       5.610 %  
 
04/2016
       586       7,140  
Lisle, IL
         10,333       6.500 %    
06/2016
 
     793       9,377  
Dallas, TX
  
(b)
     18,536       5.939 %    
07/2016
       1,136       18,365  
Rochester, NY
         18,629       6.210 %    
08/2016
       1,383       16,765  
Statesville, NC
         13,972       6.210 %    
08/2016
       1,037       12,574  
Rockford, IL
         6,837       6.210 %    
08/2016
       508       6,153  
Glenwillow, OH
         16,857       6.130 %  
 
09/2016
       1,240       15,132  
 
Page 33 of 47
 
LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
6/30/2009
 
Property
  
Footnotes
  
Debt Balance
($000)
    
Interest Rate
(%)
    
Maturity (a)
    
Current
Estimated
Annual Debt
Service
($000) (d)
    
Balloon
Payment
($000)
  
Memphis, TN
         3,931       5.710 %    
01/2017
       275       3,484  
Orlando, FL
         9,975       5.722 %    
02/2017
       579       9,309  
Dubuque, IA
         10,360       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
         13,619       6.100 %    
12/2018
       996       11,520  
Overland Park, KS
  
(b)
     37,452       5.891 %    
05/2019
       2,657       31,819  
Kansas City, MO
  
(b)
     17,867       5.883 %    
05/2019
       1,268       15,182  
Streetsboro, OH
  
(b)
     19,335       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       -  
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)
     13,774       6.320 %    
10/2021
       1,580       774  
Whippany, NJ
         16,186       6.298 %    
11/2021
       1,344       10,400  
Dillon, SC
         22,256       5.974 %    
02/2022
       1,832       13,269  
Subtotal/Wtg. Avg./Years Remaining (f)(l)
   $ 1,679,708       5.861 %    
5.0
     $ 133,659     $ 1,439,350  
 
Page 34 of 47
 
LEXINGTON REALTY TRUST
Consolidated Properties: Mortgages and Notes Payable
6/30/2009
 
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       3.169 %    
02/2011
       1,125       35,000  
Term Loan
  
(c)
     165,000       3.169 %    
02/2011
       5,301       165,000  
Exchangeable Notes
  
(e)(n)
     134,400       5.450 %  
 
01/2012
       7,325       134,400  
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)
   $ 524,243       4.921 %    
8.5
     $ 25,934     $ 524,243  
Total/Wtg. Avg./Years Remaining (f)(l)
   $ 2,203,951       5.638 %    
5.8
     $ 159,593     $ 1,963,593  
 
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, maturity can be extended to 02/2012 at the Company's option.
(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)    Does not include $15,458 from former Circuit City location, last debt service paid 3/1/09, property in receivership.
(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 $3,668 excluded from balance.
(l)     Total shown may differ from detailed amounts due to rounding.
(m)   Mortgage call date was 7/1/09. Lender did not call and earliest call date is currently 11/1/09.
(n)    Represents full payable of notes, discount of $3,694 excluded from balance.
(o)    Properties are cross-collateralized properties.
 
Page 35 of 47

LEXINGTON REALTY TRUST
Non- Consolidated Investments: Mortgages & Notes Payable
6/30/2009
 
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)
  
BCBS LLC
       $ 22,681     $ 9,072       7.850 %    
10/2009
     $ 549     $ 22,586     $ 9,034  
Net Lease Strategic
         7,759       1,164       6.930 %    
08/2010
       674       7,603       1,140  
Harpard
         775       211       9.875 %    
01/2011
       531       -       -  
Net Lease Strategic
         2,167       325       7.500 %  
 
01/2011
       226       2,076       311  
Net Lease Strategic
         13,764       2,065       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
         564       153       10.125 %    
06/2011
       313       -       -  
Jayal
         879       261       11.500 %    
03/2012
       365       -       -  
Net Lease Strategic
         22,761       3,414       5.147 %    
05/2012
       1,238       22,153       3,323  
Net Lease Strategic
         9,601       1,440       7.670 %    
01/2013
       2,900       -       -  
Net Lease Strategic
         13,026       1,954       5.148 %    
05/2013
       894       12,144       1,822  
Net Lease Strategic
         4,893       734       5.950 %    
09/2013
 
     381       4,496       674  
Net Lease Strategic
         20,409       3,061       5.810 %    
02/2014
       1,551       18,588       2,788  
Net Lease Strategic
         9,372       1,406       5.616 %    
04/2014
       697       8,484       1,273  
Net Lease Strategic
         1,227       184       8.500 %    
04/2015
       271       -       -  
Net Lease Strategic
         16,862       2,529       5.411 %  
 
05/2015
       1,189       15,087       2,263  
Net Lease Strategic - Oklahoma TIC
         14,749       885       5.240 %  
 
05/2015
       798       13,673       820  
Net Lease Strategic
         12,547       1,882       5.212 %    
06/2015
 
     836       11,349       1,702  
Net Lease Strategic
         6,103       915       5.783 %    
06/2015
       462       5,371       806  
Net Lease Strategic
         19,856       2,978       8.036 %    
09/2015
       3,425       6,925       1,039  
Net Lease Strategic
         5,670       851       8.036 %    
09/2015
       945       2,203       330  
Net Lease Strategic
         8,559       1,284       6.090 %    
01/2016
       668       7,446       1,117  
Net Lease Strategic
         6,326       949       6.090 %    
04/2016
       494       5,465       820  
Net Lease Strategic
         6,460       969       6.315 %    
09/2016
       497       5,723       858  
One Summit
         17,640       5,292       9.375 %    
10/2016
       3,344       -       -  
Net Lease Strategic
         9,126       1,369       6.063 %    
11/2016
       683       8,023       1,203  
One Summit
         11,458       3,437       10.625 %    
11/2016
       2,239       -       -  
Net Lease Strategic
         9,003       1,350       5.910 %    
10/2018
       728       6,624       994  
Dallas Commerce
         12,512       3,241       15.000 %    
12/2018
       2,455       -       -  
 
Page 36 of 47

LEXINGTON REALTY TRUST
Non- Consolidated Investments: Mortgages & Notes Payable
6/30/2009
 
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
         9,798       1,470       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
         10,101       1,515       9.800 %    
12/2019
       1,861       -       -  
Net Lease Strategic
         9,892       1,484       6.270 %    
12/2019
       774       7,755       1,163  
Net Lease Strategic
         10,004       1,501       5.930 %    
10/2020
       750       7,660       1,149  
Net Lease Strategic
         9,399       1,410       5.460 %    
12/2020
       741       5,895       884  
Net Lease Strategic
         9,519       1,428       5.640 %  
 
01/2021
       692       7,018       1,053  
Net Lease Strategic
         12,343       1,851       5.380 %    
08/2025
 
     1,144       362       54  
Subtotal/Wtg. Avg. (4)/Years Remaining (5)
   $ 395,887     $ 69,747       7.273 %    
5.7
     $ 39,410     $ 273,006     $ 45,367  
 
Page 37 of 47

LEXINGTON REALTY TRUST
Non- Consolidated Investments: Mortgages & Notes Payable
6/30/2009
 
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)(10)
     21,516       10,758       1.315 %    
12/2009
       287       21,516       10,758  
Concord
  
(6)(7)(10)
     79,300       39,650       2.509 %    
03/2010
       2,017       79,300       39,650  
Concord
  
(1)(10)
     103,063       51,531       3.942 %    
12/2010
       4,119       103,063       51,531  
Concord
  
(3)(10)
     59,613       29,807       1.318 %    
02/2012
       797       59,613       29,807  
Concord
  
(2)(10)
     347,525       173,763       2.427 %    
12/2016
       8,552       347,525       173,763  
Subtotal/Wtg. Avg. (4)/Years Remaining (5)
   $ 611,017     $ 305,509       2.546 %    
4.7
     $ 15,772     $ 611,017     $ 305,509  
Total/Wtg. Avg. (4)/Years Remaining (5)
   $ 1,006,904     $ 375,256       3.425 %    
4.9
     $ 55,182     $ 884,023     $ 350,875  

Footnotes
(1)    The balance will be reduced to $60.0 million by 12/31/09.
(2)    Collateralized debt obligation of investment grade-rated debt secured directly or indirectly by real estate assets. Portion subject to fixed rate swaps.
(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. Portion subject to fixed rate swaps.
(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)  Lexington proportionate share is 50.0%.
 
Page 38 of 47
 
LEXINGTON REALTY TRUST
Noncontrolling Interest Properties- Partners' Proportionate Share
Six Months Ended June 30, 2009
($000)

Noncontrolling Interest Properties - Partners' Proportionate Share (1)

EBITDA (2)
   $ 2,704  
Interest expense
   $ 574  
Non- operating income (2)
   $ 1,131  
Depreciation and amortization
   $ 1,118  

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 39 of 47
 
LEXINGTON REALTY TRUST
Non-Consolidated Investments - Proportionate Share
Six Months Ended June 30, 2009
($000)

Non-Consolidated Operations- Real Estate

EBITDA
   $ 18,782  
Interest expense
   $ 2,591  

Non-Consolidated Operations- Debt Platform
      
       
EBITDA
   $ 8,551  
Interest expense
   $ 4,063  
Impairment charges, loan losses and reserves
   $ 71,390  

Page 40 of 47

LEXINGTON REALTY TRUST
Selected Balance Sheet Account Detail
As of June 30, 2009
($000)

Investments in and advances to non-consolidated entities
   $ 64,479  
         
Lexington's "Investments in and advances to non-consolidated entities" line item includes investments in entities which invest in net leased properties.
        
         
Other assets
   $ 38,211  
         
The components of other assets are:
        
         
Deposits, including forward purchase equity commitment
   $ 9,165  
Investments
     15,200  
Equipment
     1,844  
Prepaids
     5,408  
Other receivables
     1,696  
Other
     4,898  
         
Accounts payable and other liabilities
   $ 38,437  
 
       
The components of accounts payable and other liabilities are:
        
         
Accounts payable and accrued expenses
   $ 14,225  
CIP accruals and other
     3,675  
Taxes
     803  
Deferred lease costs
     2,645  
Subordinated notes
     2,051  
Deposits
     1,525  
Escrows
     2,281  
Sale/leaseback financing obligation
     4,727  
Transaction costs
     950  
Derivative liability
     5,555  
 
Page 41 of 47
 
Base Rent Estimates for Current Assets
6/30/2009
($000)

Year
  
Cash
    
GAAP
  
2009
   $ 162,506     $ 162,672  
2010
     308,193       309,522  
2011
     297,910       298,625  
2012
     269,149       269,374  
2013
     230,137       229,559  

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 42 of 47

Major Markets
6/30/2009

   
Core Based Statistical Area (2)
Percent of
GAAP Base Rent
as of
06/30/2009 (1)
1
  
Dallas-Fort Worth-Arlington, TX
7.9%
2
  
Los Angeles-Long Beach-Santa Ana, CA
6.0%
3
  
Houston-Sugar Land-Baytown, TX
5.9%
4
  
New York-Northern New Jersey-Long Island, NY-NJ-PA
5.9%
5
  
Memphis, TN-MS-AR
3.8%
6
  
Orlando-Kissimmee, FL
3.7%
7
  
Baltimore-Towson, MD
3.6%
8
  
Atlanta-Sandy Springs-Marietta, GA
3.5%
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
  
Boston-Cambridge-Quincy, MA-NH
2.0%
13
  
Indianapolis-Carmel, IN
2.0%
14
  
Chicago-Naperville-Joliet, IL-IN-WI
1.9%
15
  
Salt Lake City, UT
1.8%
16
  
Richmond, VA
1.8%
17
  
Charlotte-Gastonia-Concord, NC-SC
1.8%
18
  
Beaumont-Port Arthur, TX
1.6%
19
  
Washington-Arlington-Alexandria, DC-VA-MD-WV
1.6%
20
  
Phoenix-Mesa-Scottsdale, AZ
1.6%
21
  
San Antonio, TX
1.5%
22
  
Seattle-Tacoma-Bellevue, WA
1.4%
23
  
Denver-Aurora, CO
1.4%
24
  
Cincinnati-Middletown, OH-KY-IN
1.3%
25
  
Columbus, IN
1.3%
26
  
San Francisco-Oakland-Fremont, CA
1.3%
27
  
Miami-Fort Lauderdale-Pompano Beach, FL
1.3%
28
  
Las Vegas-Paradise, NV
1.2%
29
  
Columbus, OH
1.1%
30
  
Honolulu, HI
1.0%
31
  
San Jose-Sunnyvale-Santa Clara, CA
1.0%
32
  
Elizabethtown, KY
1.0%
33
  
Greenville-Mauldin-Easley, SC
1.0%
   
Areas which account for 1% or greater of total GAAP base rent (3)
79.6%

Footnotes
(1)  Six months ended 06/30/2009 GAAP base rent recognized for consolidated properties owned as of 06/30/2009.
(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 43 of 47
 
LEXINGTON REALTY TRUST
Tenant Industry Diversification
6/30/2009

Industry Category
Percent of 
GAAP Base Rent
as of
06/30/2009 (1)
Finance/Insurance
15.6%
Energy
11.4%
Technology
8.8%
Automotive
8.3%
Food
6.5%
Healthcare
6.4%
Consumer Products/Other
6.3%
Media/Advertising
6.2%
Service
5.8%
Transportation/Logistics
5.0%
Aerospace/Defense
3.7%
Retail Department & Discount
2.8%
Construction Materials
2.6%
Printing/Production
2.3%
Telecommunications
2.1%
Other
1.5%
Real Estate
1.3%
Apparel
1.1%
Retail - Specialty
1.0%
Retail - Electronics
0.5%
Security
0.5%
Health/Fitness
0.1%
Total (2)
100.0%

Footnotes
(1) Six months ended 06/30/2009 GAAP base rent recognized for consolidated properties owned as of 06/30/2009.
(2) Total shown may differ from detailed amounts due to rounding.
 
Page 44 of 47

LEXINGTON REALTY TRUST
Other Revenue Data
6/30/2009

   
GAAP Base Rent
as of 06/30/09
($000) (1)
    
Percentage
  
Asset Class
            
Office
   $ 132,509       76.5 %
Industrial
   $ 32,485       18.7 %
Retail
   $ 8,386       4.8 %
    $ 173,380       100.0 %
Credit Rating
                
Investment Grade
   $ 77,684       44.8 %
Non-Investment Grade
   $ 15,474       8.9 %
Unrated
   $ 80,222       46.3 %
    $ 173,380       100.0 %

Footnotes
(1) Six months ended 06/30/2009 GAAP base rent recognized for consolidated properties owned as of 06/30/2009.
 
Page 45 of 47
 
LEXINGTON REALTY TRUST
Top 10 Tenants or Guarantors
6/30/2009

Tenant or Guarantor (4)
  
Number of
Leases
    
Sq. Ft. Leased
    
Sq. Ft. Leased
as a Percent of
Consolidated
Portfolio (2)
    
GAAP Base
Rent as of
06/30/09
($000) (1)
    
Percent of
GAAP Base
Rent as of
06/30/09 (1) (2)
  
Bank of America
    
  9
       702,234       1.8 %   $ 4,913       2.9 %
Baker Hughes, Inc.
    
  2
       720,221       1.8 %     4,659       2.7 %
Sanofi-aventis U.S., Inc. (Aventis, Inc. and Aventis Pharma Holding GmbH)
  
 
  1
       206,593       0.5 %     4,419       2.6 %
Dana Limited
    
  6
       1,902,414       4.8 %     4,150       2.4 %
Legg Mason Tower, Inc.
    
  1
       371,392       0.9 %     4,007       2.4 %
JPMorgan Chase Bank, NA
    
  4
       623,375       1.6 %     3,718       2.2 %
Federal Express Corporation
    
  2
       641,286       1.6 %     3,709       2.2 %
Morgan, Lewis & Bockius, LLC (3)
    
  1
       293,170       0.7 %     3,422       2.0 %
CEVA Logistics US, Inc. (TNT Holdings BV)
    
  3
       2,503,916       6.3 %     3,286       1.9 %
Swiss Re America Holding Corporation
    
  2
       476,123       1.2 %     3,212       1.9 %
     
31
       8,440,724       21.3 %   $ 39,495       23.3 %

Footnotes
(1) Six months ended 06/30/2009 GAAP base rent recognized for consolidated properties owned as of 06/30/2009.
(2) Total shown may differ from detailed amounts due to rounding.
(3) Includes parking garage operations.
(4) Amounts exclude rents from properties that were vacant as of 6/30/2009.
 
Page 46 of 47
 
 
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 47 of 47