Attached files
| file | filename |
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| 8-K - LEXINGTON REALTY TRUST 8-K 11-4-2010 - LEXINGTON REALTY TRUST | form8k.htm |
| EX-99.2 - EXHIBIT 99.2 - LEXINGTON REALTY TRUST | ex99_2.htm |
Exhibit 99.1
Quarterly Earnings and
Supplemental Operating and Financial Data
September 30, 2010
LEXINGTON REALTY TRUST
SUPPLEMENTAL REPORTING PACKAGE
September 30, 2010
Table of Contents
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Section
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Page
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Third Quarter 2010 Earnings Press Release
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3
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Portfolio Data
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2010 Third Quarter Leasing Summary
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11
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2010 Third Quarter Disposition Summary
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12
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Property Leases and Vacancies – Consolidated Portfolio
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13
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Property Leases and Vacancies – Net Lease Strategic Assets Fund
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21
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Lease Rollover Schedule – Cash Basis
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23
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Lease Rollover Schedule – GAAP Basis
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24
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Mortgage Loans Receivable
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25
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2010 Third Quarter Financing Summary
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26
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Debt Maturity Schedule
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27
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2010 Mortgage Maturities by Property Type
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28
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2011 Mortgage Maturities by Property Type
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29
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2012 Mortgage Maturities by Property Type
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30
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2013 Mortgage Maturities by Property Type
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31
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2014 Mortgage Maturities by Property Type
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32
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Mortgages and Notes Payable
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33
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Partnership Interests
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38
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Selected Balance Sheet Account Detail
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39
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Revenue Data
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40
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Top 20 Markets
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41
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Tenant Industry Diversification
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42
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Top 10 Tenants or Guarantors
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43
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Investor Information
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44
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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 authorization of Lexington’s Board of Trustees of future dividend declarations to achieve an annualized dividend paid in 2011 of $0.46 per common share, (2) the failure to continue to qualify as a real estate investment trust, (3) changes in general business and economic conditions, including the impact of the current global financial and credit crisis, (4) competition, (5) increases in real estate construction costs, (6) changes in interest rates, or (7) 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 web site 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.
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LEXINGTON REALTY TRUST
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TRADED: NYSE: LXP
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ONE PENN PLAZA, SUITE 4015
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NEW YORK NY 10119-4015
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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, November 4, 2010
LEXINGTON REALTY TRUST REPORTS THIRD QUARTER 2010 RESULTS AND INCREASES COMMON SHARE DIVIDEND BY 15%
New York, NY – November 4, 2010 – Lexington Realty Trust (“Lexington”) (NYSE:LXP), a real estate investment trust focused on single-tenant real estate investments, today announced results for the third quarter ended September 30, 2010.
Third Quarter 2010 Highlights
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Generated Company Funds From Operations (“Company FFO”) of $39.1 million or $0.25 per diluted common share/unit, adjusted for certain items.
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Executed 11 new and renewal leases, totaling approximately 760,000 square feet.
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Increased portfolio occupancy by 1.4% to approximately 93% leased.
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Raised $69.7 million from dispositions and $11.3 million from financing activities.
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Reduced overall consolidated debt by $105.5 million; paid off $80.0 million term loan ahead of scheduled maturity.
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Increased the availability of secured credit line to $220.0 million, with $18.8 million outstanding at quarter end.
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Agreed to fund $23.4 million for the construction of a 672,000 square foot industrial facility and to purchase the facility, upon its completion and commencement of a 20-year net lease, at an initial cap rate of 8.9%.
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Subsequent to Quarter End Highlights
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Increased quarterly common share dividend 15% to $0.115 per share.
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Sold one vacant property for $6.1 million.
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Retired $38.9 million in consolidated debt on three properties.
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T. Wilson Eglin, President and Chief Executive Officer of Lexington, stated, “We are pleased to announce a 15% increase in our common share dividend that reflects our strong operating results, the success we have had this year in executing all aspects of our business plan and our confidence in our future prospects. We believe we will continue to have success selling our multi-tenant properties and utilizing sales proceeds to reduce debt and selectively fund accretive acquisition opportunities. With relatively few expiring leases and debt maturities next year, we believe our new dividend payout ratio will continue to be conservative in relation to our funds from operations.”
Page 3 of 44
FINANCIAL RESULTS
Revenues
For the quarter ended September 30, 2010, total gross revenues were $87.8 million, compared with total gross revenues of $92.0 million for the quarter ended September 30, 2009.
Company FFO Attributable to Common Shareholders/Unitholders
The following presents in tabular form the items excluded from Company FFO for the periods presented (in millions, except for per diluted share/unit data):
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||
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2010
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Per Diluted Share/Unit
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2009
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Per Diluted Share/Unit
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2010
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Per Diluted Share/Unit
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2009
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Per Diluted Share/Unit
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Reported Company FFO(A)
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$ | 42.8 | $ | 0.27 | $ | 18.3 | $ | 0.15 | $ | 71.4 | $ | 0.46 | $ | (39.4 | ) | $ | (0.34 | ) | ||||||||||||||
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New accounting pronouncements
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0.1 | 0.3 | 0.4 | 1.1 | ||||||||||||||||||||||||||||
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Debt satisfaction, net
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-- | (9.2 | ) | (2.6 | ) | (21.5 | ) | |||||||||||||||||||||||||
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Forward equity commitment
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(4.9 | ) | (7.0 | ) | (5.4 | ) | (2.6 | ) | ||||||||||||||||||||||||
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Impairment losses - real estate
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1.1 | 29.2 | 51.2 | 38.8 | ||||||||||||||||||||||||||||
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Impairment losses - real estate noncontrolling interests
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(9.5 | ) | ||||||||||||||||||||||||||||||
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Impairment losses -consolidated debt investments
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0.5 | 3.9 | 1.6 | |||||||||||||||||||||||||||||
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Impairment losses/reserves -Concord debt investments
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-- | -- | -- | 71.4 | ||||||||||||||||||||||||||||
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Impairment loss - Concord equity investment
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-- | -- | -- | 68.2 | ||||||||||||||||||||||||||||
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Impairment loss - JV
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-- | 6.5 | -- | 6.5 | ||||||||||||||||||||||||||||
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Lease termination/ deferred maintenance payments
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(1.9 | ) | (3.2 | ) | ||||||||||||||||||||||||||||
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Land transaction income, net
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-- | -- | -- | (1.3 | ) | |||||||||||||||||||||||||||
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Company FFO, as adjusted
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$ | 39.1 | $ | 0.25 | (B) | $ | 36.7 | $ | 0.31 | (B) | $ | 109.4 | $ | 0.72 | (B) | $ | 119.6 | $ | 1.05 | (B) | ||||||||||||
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(A)
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A reconciliation of GAAP net income (loss) to Company FFO is provided later in this press release.
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(B)
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Per diluted share/unit reflects the impact of estimated net common shares retired upon the assumed settlement of the forward equity commitment of (3,305,015), (2,487,326), (3,312,724) and (2,139,550) for the three months ended September 30, 2010 and 2009 and the nine months ended September 30, 2010 and 2009, respectively.
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Net Income (Loss) Attributable to Common Shareholders
For the quarter ended September 30, 2010, net income attributable to common shareholders was $58 thousand, or income of $0.00 per diluted share, compared with net loss attributable to common shareholders for the quarter ended September 30, 2009 of ($28.5) million, or a loss of ($0.25) per diluted share.
Financing Activities and Balance Sheet Update
Overall consolidated debt was reduced in the third quarter by $105.5 million. Lexington fully satisfied the $80.0 million term loan portion of the secured credit facility and retired $47.2 million in non-recourse mortgage balloon debt on four properties.
Page 4 of 44
During the quarter, Lexington increased the capacity under its secured revolving line of credit to $220.0 million from $175.0 million. As of September 30, 2010, $18.8 million was outstanding under this facility. In addition, Lexington obtained an $11.3 million fully amortizing, non-recourse mortgage loan on its North Berwick, Maine property leased to United Technologies Corporation with a term of approximately nine years and a fixed interest rate of 3.56%.
Common Share Dividend/Distribution
Lexington declared a regular quarterly dividend/distribution, for the quarter ended September 30, 2010, of $0.10 per common share/unit, which was paid on October 15, 2010 to common shareholders/unitholders of record as of September 30, 2010.
On November 3, 2010, Lexington declared a regular quarterly dividend/distribution for the quarter ended December 31, 2010 of $0.115 per common share/unit, which will be paid on or about January 14, 2011 to common shareholders/unitholders of record as of December 31, 2010. This quarterly dividend of $0.115 per common share/unit represents a 15% increase and, subject to Board of Trustees’ authorization, an expected annualized dividend of $0.46 per common share/unit.
OPERATING ACTIVITIES
Capital Recycling
During the quarter ended September 30, 2010, Lexington raised $69.7 million from four property sales at a weighted-average cap rate of 0.6%. Subsequent to quarter end, Lexington sold one vacant industrial property for $6.1 million ($30.42 psf). Year to date, Lexington has monetized 11 properties for $155.1 million at a weighted-average cap rate of 4.1%.
Investments
During the third quarter, Lexington agreed to fund up to $23.4 million for the construction of a 672,000 square foot industrial facility in Shelby, North Carolina and to acquire the property for approximately $0.3 million in excess of the construction funding commitment. The facility will be leased to Clearwater Paper Corporation for a term of 20 years upon completion of construction, which is expected to occur in the second quarter of 2011, at an initial cap rate of 8.9%. No assurance can be provided that construction will be completed or the acquisition will be consummated.
Leasing Activity
For the quarter ended September 30, 2010, Lexington executed 11 new and renewal leases for 760,000 square feet. At September 30, 2010, Lexington’s overall portfolio was approximately 93% leased.
2010 EARNINGS GUIDANCE
Lexington reaffirms its estimated Company FFO guidance of a range of $0.93 to $0.97 per diluted share for the year ended December 31, 2010. This guidance is forward looking, excludes the impact of certain items and is based on current expectations.
Page 5 of 44
THIRD QUARTER 2010 CONFERENCE CALL
Lexington will host a conference call today, Thursday, November 4, 2010, at 11:00 a.m. Eastern Time, to discuss its results for the quarter ended September 30, 2010. Interested parties may participate in this conference call by dialing (877) 604-9668 or (719) 325-4899. A replay of the call will be available through November 18, 2010, at (877) 870-5176 or (858) 384-5517, pin: 7174391. A live webcast of the conference call will be available at www.lxp.com within the Investor Relations section.
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 authorization by Lexington’s Board of Trustees of future dividend declarations to achieve an annualized dividend paid in 2011 of $0.46 per common share, (2) the failure to continue to qualify as a real estate investment trust, (3) changes in general business and economic conditions, including the impact of the current global financial and credit crisis, (4) competition, (5) increases in real estate construction costs, (6) changes in interest rates, or (7) changes in accessibility of debt and equity capital markets. Copies of the periodic reports Lexington files with the Securities and Exchange Commission are available on Lexington’s web site at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects”, “is optimistic” or similar expressions. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.
Page 6 of 44
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three and nine months ended September 30, 2010 and 2009
(Unaudited and in thousands, except share and per share data)
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Three months ended
September 30,
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Nine months ended
September 30,
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2010
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2009
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2010
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2009
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Gross revenues:
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Rental
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$ | 79,484 | $ | 81,574 | $ | 233,986 | $ | 245,280 | ||||||||
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Advisory and incentive fees
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254 | 388 | 869 | 1,434 | ||||||||||||
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Tenant reimbursements
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8,077 | 9,989 | 25,676 | 29,317 | ||||||||||||
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Total gross revenues
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87,815 | 91,951 | 260,531 | 276,031 | ||||||||||||
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Expense applicable to revenues:
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Depreciation and amortization
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(41,165 | ) | (42,198 | ) | (124,497 | ) | (127,033 | ) | ||||||||
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Property operating
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(17,418 | ) | (19,458 | ) | (54,331 | ) | (57,336 | ) | ||||||||
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General and administrative
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(4,886 | ) | (5,051 | ) | (15,810 | ) | (17,822 | ) | ||||||||
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Non-operating income
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2,934 | 1,304 | 7,982 | 6,877 | ||||||||||||
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Interest and amortization expense
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(30,958 | ) | (31,875 | ) | (94,453 | ) | (97,038 | ) | ||||||||
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Debt satisfaction gains (charges), net
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(11 | ) | 3,152 | (773 | ) | 16,868 | ||||||||||
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Change in value of forward equity commitment
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4,940 | 7,031 | 5,400 | 2,596 | ||||||||||||
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Impairment charges and loan losses
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-- | (491 | ) | (16,354 | ) | (1,576 | ) | |||||||||
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Income (loss) before provision for income taxes, equity in earnings
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(losses) of non-consolidated entities and discontinued operations
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1,251 | 4,365 | (32,305 | ) | 1,567 | |||||||||||
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Provision for income taxes
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(451 | ) | (658 | ) | (1,697 | ) | (1,649 | ) | ||||||||
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Equity in earnings (losses) of non-consolidated entities
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5,459 | (525 | ) | 16,066 | (130,813 | ) | ||||||||||
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Income (loss) from continuing operations
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6,259 | 3,182 | (17,936 | ) | (130,895 | ) | ||||||||||
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Discontinued operations:
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Income (loss) from discontinued operations
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147 | (2,083 | ) | (932 | ) | (3,479 | ) | |||||||||
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Provision for income taxes
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-- | (6 | ) | (14 | ) | (70 | ) | |||||||||
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Debt satisfaction gains, net
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-- | 6,006 | 3,385 | 4,607 | ||||||||||||
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Gains on sales of properties
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2,025 | -- | 2,523 | 6,280 | ||||||||||||
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Impairment charges
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(1,091 | ) | (29,230 | ) | (38,713 | ) | (38,787 | ) | ||||||||
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Total discontinued operations
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1,081 | (25,313 | ) | (33,751 | ) | (31,449 | ) | |||||||||
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Net income (loss)
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7,340 | (22,131 | ) | (51,687 | ) | (162,344 | ) | |||||||||
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Less net loss (income) attributable to noncontrolling interests
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(1,006 | ) | 2 | 7,153 | (1,841 | ) | ||||||||||
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Net income (loss) attributable to Lexington Realty Trust shareholders
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6,334 | (22,129 | ) | (44,534 | ) | (164,185 | ) | |||||||||
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Dividends attributable to preferred shares - Series B
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(1,590 | ) | (1,590 | ) | (4,770 | ) | (4,770 | ) | ||||||||
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Dividends attributable to preferred shares - Series C
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(1,702 | ) | (1,702 | ) | (5,107 | ) | (5,516 | ) | ||||||||
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Dividends attributable to preferred shares - Series D
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(2,926 | ) | (2,926 | ) | (8,777 | ) | (8,777 | ) | ||||||||
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Dividends attributable to non-vested common shares
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(58 | ) | (127 | ) | (181 | ) | (385 | ) | ||||||||
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Conversion dividend - Series C
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-- | -- | -- | (6,994 | ) | |||||||||||
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Net income (loss) attributable to common shareholders
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$ | 58 | $ | (28,474 | ) | $ | (63,369 | ) | $ | (190,627 | ) | |||||
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Income (loss) per common share - basic and diluted:
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Loss from continuing operations
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$ | (0.01 | ) | $ | (0.03 | ) | $ | (0.28 | ) | $ | (1.51 | ) | ||||
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Income (loss) from discontinued operations
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0.01 | (0.22 | ) | (0.21 | ) | (0.30 | ) | |||||||||
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Net income (loss) attributable to common shareholders
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$ | 0.00 | $ | (0.25 | ) | $ | (0.49 | ) | $ | (1.81 | ) | |||||
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Weighted average common shares outstanding - basic and diluted
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133,713,505 | 112,217,415 | 129,487,281 | 105,490,039 | ||||||||||||
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Amounts attributable to common shareholders:
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Loss from continuing operations
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$ | (1,290 | ) | $ | (3,243 | ) | $ | (36,244 | ) | $ | (158,833 | ) | ||||
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Income (loss) from discontinued operations
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1,348 | (25,231 | ) | (27,125 | ) | (31,794 | ) | |||||||||
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Net income (loss) attributable to common shareholders
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$ | 58 | $ | (28,474 | ) | $ | (63,369 | ) | $ | (190,627 | ) | |||||
Page 7 of 44
LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
September 30, 2010 and December 31, 2009
(Unaudited and in thousands, except share and per share data)
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2010
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2009
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Assets:
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Real estate, at cost
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$ | 3,417,177 | $ | 3,552,806 | ||||
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Less: accumulated depreciation and amortization
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605,741 | 537,406 | ||||||
| 2,811,436 | 3,015,400 | |||||||
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Intangible assets, net
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212,853 | 267,161 | ||||||
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Cash and cash equivalents
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59,277 | 53,865 | ||||||
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Restricted cash
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33,166 | 21,519 | ||||||
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Investment in and advances to non-consolidated entities
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70,353 | 55,985 | ||||||
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Deferred expenses, net
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38,978 | 38,245 | ||||||
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Loans receivable, net
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93,409 | 60,567 | ||||||
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Rent receivable - current
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7,831 | 11,463 | ||||||
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Rent receivable - deferred
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3,802 | 12,529 | ||||||
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Other assets
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54,024 | 43,111 | ||||||
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Total assets
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$ | 3,385,129 | $ | 3,579,845 | ||||
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Liabilities and Equity:
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Liabilities:
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Mortgages and notes payable
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$ | 1,619,027 | $ | 1,857,909 | ||||
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Exchangeable notes payable
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61,272 | 85,709 | ||||||
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Convertible notes payable
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102,726 | - | ||||||
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Trust preferred securities
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129,120 | 129,120 | ||||||
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Contract right payable
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14,397 | 15,252 | ||||||
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Dividends payable
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19,651 | 18,412 | ||||||
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Accounts payable and other liabilities
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44,840 | 43,629 | ||||||
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Accrued interest payable
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8,804 | 11,068 | ||||||
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Deferred revenue - below market leases, net
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98,880 | 107,535 | ||||||
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Prepaid rent
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15,918 | 13,975 | ||||||
| 2,114,635 | 2,282,609 | |||||||
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Commitments and contingencies
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Equity:
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Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares,
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Series B Cumulative Redeemable Preferred, liquidation preference $79,000, 3,160,000 shares issued and outstanding
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76,315 | 76,315 | ||||||
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Series C Cumulative Convertible Preferred, liquidation preference $104,760, 2,095,200 shares issued and outstanding
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101,778 | 101,778 | ||||||
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Series D Cumulative Redeemable Preferred, liquidation preference $155,000, 6,200,000 shares issued and outstanding
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149,774 | 149,774 | ||||||
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Common shares, par value $0.0001 per share; authorized 400,000,000 shares, 134,330,111 and 121,943,258 shares issued and outstanding in 2010 and 2009, respectively
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13 | 12 | ||||||
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Additional paid-in-capital
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1,846,958 | 1,750,979 | ||||||
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Accumulated distributions in excess of net income
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(974,236 | ) | (870,862 | ) | ||||
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Accumulated other comprehensive income (loss)
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(934 | ) | 673 | |||||
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Total shareholders' equity
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1,199,668 | 1,208,669 | ||||||
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Noncontrolling interests
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70,826 | 88,567 | ||||||
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Total equity
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1,270,494 | 1,297,236 | ||||||
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Total liabilities and equity
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$ | 3,385,129 | $ | 3,579,845 | ||||
Page 8 of 44
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)
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Three months ended
September 30,
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Nine months ended
September 30,
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2010
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2009
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2010
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2009
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EARNINGS PER SHARE:
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Basic and Diluted:
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Loss from continuing operations attributable to common shareholders
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$ | (1,290 | ) | $ | (3,243 | ) | $ | (36,244 | ) | $ | (158,833 | ) | ||||
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Income (loss) from discontinued operations attributable to common shareholders
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1,348 | (25,231 | ) | (27,125 | ) | (31,794 | ) | |||||||||
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Net income (loss) attributable to common shareholders
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$ | 58 | $ | (28,474 | ) | $ | (63,369 | ) | $ | (190,627 | ) | |||||
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Weighted average number of common shares outstanding
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133,713,505 | 112,217,415 | 129,487,281 | 105,490,039 | ||||||||||||
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Income (loss) per common share:
|
||||||||||||||||
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Loss from continuing operations
|
$ | (0.01 | ) | $ | (0.03 | ) | $ | (0.28 | ) | $ | (1.51 | ) | ||||
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Income (loss) from discontinued operations
|
0.01 | (0.22 | ) | (0.21 | ) | (0.30 | ) | |||||||||
|
Net income (loss) attributable to common shareholders
|
$ | 0.00 | $ | (0.25 | ) | $ | (0.49 | ) | $ | (1.81 | ) | |||||
|
Three months ended
September 30,
|
Nine months ended
September 30,
|
|||||||||||||||
|
2010
|
2009
|
2010
|
2009
|
|||||||||||||
|
COMPANY FUNDS FROM OPERATIONS: (1) Basic and Diluted:
|
||||||||||||||||
|
Net income (loss) attributable to common shareholders
|
$ | 58 | $ | (28,474 | ) | $ | (63,369 | ) | $ | (190,627 | ) | |||||
|
Adjustments:
|
||||||||||||||||
|
Depreciation and amortization
|
40,325 | 44,994 | 123,805 | 136,404 | ||||||||||||
|
Noncontrolling interests - OP units
|
687 | 221 | 1,443 | 933 | ||||||||||||
|
Amortization of leasing commissions
|
854 | 787 | 2,621 | 2,269 | ||||||||||||
|
Joint venture and noncontrolling interest adjustment
|
(1,131 | ) | (910 | ) | (1,977 | ) | 5,381 | |||||||||
|
Preferred dividends - Series C
|
1,702 | 1,702 | 5,107 | 12,510 | ||||||||||||
|
Gains on sale of properties
|
(2,025 | ) | -- | (2,523 | ) | (6,280 | ) | |||||||||
|
Gain on sale of marketable securities
|
-- | (19 | ) | -- | (19 | ) | ||||||||||
|
Interest and amortization on 6.00% Convertible Notes
|
2,325 | -- | 6,283 | -- | ||||||||||||
|
Company FFO
|
$ | 42,795 | $ | 18,301 | $ | 71,390 | $ | (39,429 | ) | |||||||
|
Basic and Diluted:
|
||||||||||||||||
|
Weighted average common shares outstanding - EPS
|
133,713,505 | 112,217,415 | 129,487,281 | 105,490,039 | ||||||||||||
|
6.00% Convertible Notes
|
16,230,905 | -- | 14,698,029 | -- | ||||||||||||
|
Non-vested share-based payment awards
|
67,785 | -- | 57,080 | -- | ||||||||||||
|
Operating Partnership Units
|
5,037,207 | 5,599,397 | 5,267,260 | 5,449,726 | ||||||||||||
|
Preferred Shares - Series C
|
5,099,507 | 4,950,907 | 5,099,507 | 5,461,335 | ||||||||||||
|
Weighted average common shares outstanding
|
160,148,909 | 122,767,719 | 154,609,157 | 116,401,100 | ||||||||||||
|
Company FFO per common share
|
$ | 0.27 | $ | 0.15 | $ | 0.46 | $ | (0.34 | ) | |||||||
Page 9 of 44
1 Lexington believes that Funds from Operations (“FFO”) is a widely recognized and appropriate measure of the performance of an equity REIT. Lexington presents FFO because it considers FFO an important supplemental measure of Lexington’s operating performance. Lexington believes FFO is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. FFO is intended to exclude generally accepted accounting principles (“GAAP”) historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. As a result, FFO provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities, interest costs and other matters without the inclusion of depreciation and amortization, providing perspective that may not necessarily be apparent from net income.
FFO is determined in accordance with standards established by the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”). FFO is defined by NAREIT as “net income (or loss) computed in accordance with GAAP, excluding gains (or losses) from sales of property, plus real estate depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures.” FFO does not represent cash generated from operating activities in accordance with GAAP and is not indicative of cash available to fund cash needs. FFO should not be considered as an alternative to net income as an indicator of our operating performance or as an alternative to cash flow as a measure of liquidity.
Lexington includes in its calculation of FFO, which Lexington refers to as the “Company’s funds from operations” or “Company FFO,” Lexington’s operating partnership units, Lexington’s Series C Cumulative Convertible Preferred Shares, and Lexington’s 6.00% Convertible Notes 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 10 of 44
LEXINGTON REALTY TRUST
2010 Third Quarter Leasing Summary
|
NEW LEASES
|
||||||||||||||||||||||
|
Tenants/Guarantors
|
Location
|
Lease
Expiration
Date
|
Sq. Ft.
|
New Cash Rent Per Annum ($000)(1)
|
New GAAP Rent Per Annum ($000)(1)
|
|||||||||||||||||
|
Office/Multi-Tenant
|
||||||||||||||||||||||
|
1
|
Paul Kaminaka
|
Honolulu
|
HI
|
10/2013 | 4,702 | $ | 18 | $ | 18 | |||||||||||||
|
2
|
Transamerica Life Insurance Company (2)
|
Baltimore
|
MD
|
01/2022 | 140,526 | $ | 2,990 | $ | 4,258 | |||||||||||||
|
3
|
Yellow Book Sales and Distribution Co., Inc.
|
Fishers
|
IN
|
11/2013 | 3,764 | $ | 54 | $ | 54 | |||||||||||||
|
3
|
Total new office/multi-tenant leases
|
148,992 | $ | 3,062 | $ | 4,330 | ||||||||||||||||
|
Industrial
|
||||||||||||||||||||||
|
1
|
Enbridge Energy L.P.
|
Marshall
|
MI
|
02/2011 | 58,300 | $ | 198 | $ | 198 | |||||||||||||
|
2
|
Ozburn-Hessey Logistics, LLC
|
Statesville
|
NC
|
05/2013 | 168,800 | $ | 365 | $ | 365 | |||||||||||||
|
2
|
Total new industrial leases
|
227,100 | $ | 563 | $ | 563 | ||||||||||||||||
|
5
|
TOTAL NEW LEASES
|
376,092 | $ | 3,625 | $ | 4,893 | ||||||||||||||||
| LEASE EXTENSIONS | |||||||||||||||||||||||||||||||||
|
Tenants/Guarantors
|
Location
|
Prior
Term
|
Lease Expiration Date
|
Sq. Ft.
|
New Cash Rent Per Annum ($000)(1)
|
Prior
Cash Rent Per Annum ($000)
|
New GAAP Rent Per Annum ($000)(1)
|
Prior GAAP Rent Per Annum ($000)
|
|||||||||||||||||||||||||
|
Office/Multi-Tenant
|
|||||||||||||||||||||||||||||||||
|
1
|
AT&T Services, Inc. (3)
|
Oklahoma City
|
OK
|
11/2010 | 11/2015 | 103,500 | $ | 247 | $ | 267 | $ | 239 | $ | 261 | |||||||||||||||||||
|
2
|
Jordan Associates Inc. (3)
|
Oklahoma City
|
OK
|
06/2010 | 06/2011 | 25,000 | $ | 10 | $ | 10 | $ | 10 | $ | 10 | |||||||||||||||||||
|
3
|
Management & Training Corporation
|
Honolulu
|
HI
|
04/2010 | 04/2011 | 1,518 | $ | 21 | $ | 20 | $ | 21 | $ | 20 | |||||||||||||||||||
|
4
|
Victor T. Fujita d/b/a I.M.C. Direct
|
Honolulu
|
HI
|
08/2010 | 08/2013 | 297 | $ | 6 | $ | 5 | $ | 6 | $ | 5 | |||||||||||||||||||
|
4
|
Total office/multi-tenant lease extensions
|
130,315 | $ | 284 | $ | 302 | $ | 276 | $ | 296 | |||||||||||||||||||||||
|
Industrial
|
|||||||||||||||||||||||||||||||||
|
1
|
Walgreen Company
|
Orlando
|
FL
|
03/2011 | 03/2016 | 205,016 | $ | 508 | $ | 508 | $ | 786 | $ | 786 | |||||||||||||||||||
|
1
|
Total industrial lease extensions
|
205,016 | $ | 508 | $ | 508 | $ | 786 | $ | 786 | |||||||||||||||||||||||
|
Retail
|
|||||||||||||||||||||||||||||||||
|
1
|
Safeway Stores Inc.
|
Greenville
|
TX
|
05/2011 | 05/2016 | 48,492 | $ | 171 | $ | 171 | $ | 242 | $ | 242 | |||||||||||||||||||
|
1
|
Total retail lease extensions
|
48,492 | $ | 171 | $ | 171 | $ | 242 | $ | 242 | |||||||||||||||||||||||
|
6
|
TOTAL LEASE EXTENSIONS
|
383,823 | $ | 963 | $ | 981 | $ | 1,304 | $ | 1,324 | |||||||||||||||||||||||
|
11
|
TOTAL NEW AND EXTENDED LEASES
|
759,915 | $ | 4,588 | $ | 981 | $ | 6,197 | $ | 1,324 | |||||||||||||||||||||||
Footnotes
|
(1)
|
Assumes twelve months rent.
|
|
(2)
|
Represents twelve months rent from estimated lease commencement date of 11/1/2011, including free rent periods.
|
|
(3)
|
Equity investment held in Net Lease Strategic Assets Fund L.P, rent amounts reflect Lexington's 19% effective ownership interest.
|
Page 11 of 44
LEXINGTON REALTY TRUST
2010 Third Quarter Disposition Summary
|
DISPOSITIONS
|
|||||||||||||||||||
|
Tenants/Guarantors
|
Location
|
Property
Type
|
Gross
Sale Price
($000)
|
Annualized NOI ($000)
|
Month of Disposition
|
||||||||||||||
|
1
|
Various Tenants
|
Dallas, TX
|
Multi-Tenant/Office
|
$ | 7,450 | $ | 34 |
July
|
|||||||||||
|
2
|
Various Tenants
|
Irvine, CA
|
Multi-Tenant/Office
|
$ | 20,000 | $ | 696 |
July
|
|||||||||||
|
3
|
Various Tenants
|
San Francisco, CA
|
Multi-Tenant/Office
|
$ | 42,250 | $ | (314 | ) |
July
|
||||||||||
|
4
|
Vacant
|
North Myrtle Beach, SC
|
Retail
|
$ | - | $ | (12 | ) |
August
|
||||||||||
|
4
|
TOTAL DISPOSITIONS
|
$ | 69,700 | $ | 404 | ||||||||||||||
Page 12 of 44
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 9/30/2010
|
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
9/30/2010 ($000) (2)
|
GAAP
Base Rent
as of
9/30/2010
($000) (3)
|
Fixed Rent
at
Next
Option
($000) (4)
|
||||||||||||||||||||||||||||
|
OFFICE PROPERTIES
|
|||||||||||||||||||||||||||||||||||||||
|
2010
|
12/31/2010
|
1701 Market St.
|
Philadelphia
|
PA
|
(6 | )(7) |
City National Bank of New Jersey
|
1957/1997 | 5,315 | 179 | 179 | 0 | |||||||||||||||||||||||||||
|
2011
|
1/31/2011
|
4848 129th East Ave.
|
Tulsa
|
OK
|
-- |
HSBC Card Services, Inc. (HSBC Finance Corporation)
|
2000 | 101,100 | 1,073 | 1,073 | 0 | ||||||||||||||||||||||||||||
|
2/28/2011
|
4200 RCA Blvd.
|
Palm Beach Gardens
|
FL
|
-- |
The Wackenhut Corporation
|
1996 | 96,118 | 1,360 | 1,358 | 2,402 | |||||||||||||||||||||||||||||
|
9/30/2011
|
200 Lucent Ln.
|
Cary
|
NC
|
-- |
Alcatel-Lucent USA, Inc.
|
1999 | 124,944 | 1,710 | 1,544 | 0 | |||||||||||||||||||||||||||||
|
11/30/2011
|
207 Mockingbird Ln.
|
Johnson City
|
TN
|
(22 | ) |
SunTrust Bank
|
1979 | 63,800 | 506 | 567 | 675 | ||||||||||||||||||||||||||||
|
12/31/2011
|
2050 Roanoke Rd.
|
Westlake
|
TX
|
-- |
Chrysler Financial Services Americas, LLC
|
2001 | 130,290 | 2,745 | 2,591 | 0 | |||||||||||||||||||||||||||||
|
37101 Corporate Dr.
|
Farmington Hills
|
MI
|
(10 | ) |
Continental Automotive Systems, Inc.
|
2001 | 119,829 | 3,143 | 2,293 | 0 | |||||||||||||||||||||||||||||
|
2012
|
1/31/2012
|
26210 and 26220 Enterprise Court
|
Lake Forest
|
CA
|
-- |
Apria Healthcare, Inc. (Apria Healthcare Group, Inc.)
|
2001 | 100,012 | 1,477 | 1,344 | 0 | ||||||||||||||||||||||||||||
|
4000 Johns Creek Pkwy.
|
Suwanee
|
GA
|
-- |
Kraft Foods Global, Inc.
|
2001 | 73,264 | 1,067 | 1,039 | 0 | ||||||||||||||||||||||||||||||
|
1275 Northwest 128th St.
|
Clive
|
IA
|
-- |
Principal Life Insurance Company
|
2004 | 61,180 | 599 | 599 | 935 | ||||||||||||||||||||||||||||||
|
3/31/2012
|
1701 Market St.
|
Philadelphia
|
PA
|
(6 | )(7) |
Car-Tel Communications, Inc.
|
1957/1997 | 1,220 | 37 | 36 | 0 | ||||||||||||||||||||||||||||
|
3940 South Teller St.
|
Lakewood
|
CO
|
-- |
MoneyGram Payment Systems, Inc.
|
2002 | 68,165 | 912 | 650 | 1,295 | ||||||||||||||||||||||||||||||
|
120 East Shore Dr.
|
Glen Allen
|
VA
|
-- |
Capital One Services, LLC
|
2000 | 77,045 | 621 | 590 | 847 | ||||||||||||||||||||||||||||||
|
6/30/2012
|
275 South Valencia Ave.
|
Brea
|
CA
|
-- |
Bank of America, NA
|
1983 | 637,503 | 6,533 | 6,596 | 0 | |||||||||||||||||||||||||||||
|
8/31/2012
|
5757 Decatur Blvd.
|
Indianapolis
|
IN
|
-- |
Allstate Insurance Company
|
2002 | 84,200 | 1,030 | 1,161 | 0 | |||||||||||||||||||||||||||||
|
Damar Services, Inc.
|
2002 | 5,756 | 32 | 32 | 47 | ||||||||||||||||||||||||||||||||||
|
2706 Media Center Dr.
|
Los Angeles
|
CA
|
-- |
Sony Electronics, Inc.
|
2000 | 20,203 | 158 | 158 | 0 | ||||||||||||||||||||||||||||||
|
10/31/2012
|
4455 American Way
|
Baton Rouge
|
LA
|
-- |
Bell South Mobility, Inc.
|
1997 | 70,100 | 847 | 835 | 0 | |||||||||||||||||||||||||||||
|
11/7/2012
|
2706 Media Center Dr.
|
Los Angeles
|
CA
|
-- |
Playboy Enterprises, Inc.
|
2000 | 63,049 | 1,126 | 943 | 0 | |||||||||||||||||||||||||||||
|
11/14/2012
|
2211 South 47th St.
|
Phoenix
|
AZ
|
-- |
Avnet, Inc.
|
1997 | 176,402 | 1,806 | 1,694 | 0 | |||||||||||||||||||||||||||||
|
12/31/2012
|
200 Executive Blvd. South
|
Southington
|
CT
|
-- |
Hartford Fire Insurance Company
|
1984/2006 | 153,364 | 1,260 | 1,218 | 0 | |||||||||||||||||||||||||||||
|
2013
|
1/31/2013
|
12600 Gateway Blvd.
|
Fort Meyers
|
FL
|
-- |
Gartner, Inc.
|
1998 | 62,400 | 839 | 819 | 0 | ||||||||||||||||||||||||||||
|
810 & 820 Gears Rd.
|
Houston
|
TX
|
-- |
IKON Office Solutions, Inc.
|
2000 | 157,790 | 1,699 | 1,688 | 0 | ||||||||||||||||||||||||||||||
|
3/31/2013
|
3165 McKelvey Rd.
|
Bridgeton
|
MO
|
-- |
BJC Health System
|
1981 | 52,994 | 288 | 395 | 0 | |||||||||||||||||||||||||||||
|
8900 Freeport Pkwy.
|
Irving
|
TX
|
-- |
Nissan Motor Acceptance Corporation (Nissan North America, Inc.)
|
2003 | 268,445 | 3,700 | 3,667 | 0 | ||||||||||||||||||||||||||||||
|
4/30/2013
|
Sandlake Rd./Kirkman Rd.
|
Orlando
|
FL
|
-- |
Lockheed Martin Corporation
|
1982 | 184,000 | 720 | 1,402 | 960 | |||||||||||||||||||||||||||||
|
5/31/2013
|
6303 Barfield Rd.
|
Atlanta
|
GA
|
-- |
International Business Machines Corporation (Internet Security Systems, Inc.)
|
2000/2001 | 238,600 | 3,616 | 3,661 | 0 | |||||||||||||||||||||||||||||
|
6/30/2013
|
2210 Enterprise Dr.
|
Florence
|
SC
|
(6 | ) |
JPMorgan Chase Bank, National Association
|
1998 | 179,300 | 941 | 941 | 0 | ||||||||||||||||||||||||||||
|
9/30/2013
|
9200 South Park Center Loop
|
Orlando
|
FL
|
(6 | ) |
Corinthian Colleges, Inc.
|
2003 | 59,927 | 960 | 869 | 0 | ||||||||||||||||||||||||||||
|
11/30/2013
|
10475 Crosspoint Blvd.
|
Fishers
|
IN
|
-- |
Yellow Book Sales and Distribution Company, Inc.
|
1999 | 3,764 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
|
1110 Bayfield Dr.
|
Colorado Springs
|
CO
|
-- |
Honeywell International, Inc.
|
1980/1990/2002
|
166,575 | 1,307 | 1,200 | 1,713 | ||||||||||||||||||||||||||||||
|
12/13/2013
|
3333 Coyote Hill Rd.
|
Palo Alto
|
CA
|
-- |
Xerox Corporation
|
1973/1975/1982
|
202,000 | 2,624 | 2,543 | 0 | |||||||||||||||||||||||||||||
|
12/31/2013
|
2550 Interstate Dr.
|
Harrisburg
|
PA
|
-- |
New Cingular Wireless PCS, LLC
|
1998 | 81,859 | 1,397 | 1,403 | 0 | |||||||||||||||||||||||||||||
|
2014
|
1/31/2014
|
1701 Market St.
|
Philadelphia
|
PA
|
(7 | ) |
Morgan, Lewis & Bockius, LLC
|
1957/1997 | 290,565 | 3,349 | 3,319 | 4,631 | |||||||||||||||||||||||||||
|
3/15/2014
|
101 East Erie St.
|
Chicago
|
IL
|
-- |
Draftfcb, Inc. (Interpublic Group of Companies, Inc.)
|
1986 | 215,991 | 3,112 | 3,764 | 0 | |||||||||||||||||||||||||||||
|
5/31/2014
|
3476 Stateview Blvd.
|
Fort Mill
|
SC
|
-- |
Wells Fargo Bank, N.A.
|
2002 | 169,083 | 1,917 | 1,901 | 0 | |||||||||||||||||||||||||||||
|
3480 Stateview Blvd.
|
Fort Mill
|
SC
|
-- |
Wells Fargo Bank, N.A.
|
2004 | 169,218 | 2,630 | 2,595 | 0 | ||||||||||||||||||||||||||||||
|
859 Mount Vernon Hwy.
|
Atlanta
|
GA
|
(12 | ) |
International Business Machines Corporation (Internet Security Systems, Inc.)
|
2004 | 50,400 | 926 | 772 | 0 | |||||||||||||||||||||||||||||
|
7/31/2014
|
16676 Northchase Dr.
|
Houston
|
TX
|
-- |
Anadarko Petroleum Corporation
|
2003 | 101,111 | 1,226 | 1,222 | 0 | |||||||||||||||||||||||||||||
|
9/30/2014
|
333 Mt. Hope Ave.
|
Rockaway
|
NJ
|
-- |
BASF Corporation
|
1981/2002/2004
|
95,500 | 1,683 | 1,592 | 0 | |||||||||||||||||||||||||||||
|
10/31/2014
|
1409 Centerpoint Blvd.
|
Knoxville
|
TN
|
-- |
Alstom Power, Inc.
|
1997 | 84,404 | 1,223 | 1,216 | 0 | |||||||||||||||||||||||||||||
|
2800 Waterford Lake Dr.
|
Midlothian
|
VA
|
-- |
Alstom Power, Inc.
|
2000 | 99,057 | 1,517 | 1,511 | 0 | ||||||||||||||||||||||||||||||
|
700 US Hwy. Route 202-206
|
Bridgewater
|
NJ
|
-- |
Biovail Pharmaceuticals, Inc. (Biovail Corporation)
|
1985/2003/2004
|
115,558 | 1,733 | 2,136 | 0 | ||||||||||||||||||||||||||||||
Page 13 of 44
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 9/30/2010
|
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
9/30/2010 ($000) (2)
|
GAAP
Base Rent
as of
9/30/2010
($000) (3)
|
Fixed Rent
at
Next
Option
($000) (4)
|
||||||||||||||||||||||||||||
|
12/14/2014
|
5150 220th Ave.
|
Issaquah
|
WA
|
-- |
OSI Systems, Inc. (Instrumentarium Corporation)
|
1992 | 106,944 | 1,646 | 1,613 | 0 | |||||||||||||||||||||||||||||
|
22011 Southeast 51st St.
|
Issaquah
|
WA
|
-- |
OSI Systems, Inc. (Instrumentarium Corporation)
|
1987 | 95,600 | 1,463 | 1,416 | 0 | ||||||||||||||||||||||||||||||
|
12/31/2014
|
1066 Main St.
|
Forest Park
|
GA
|
-- |
Bank of America, NA (Bank of America Corporation)
|
1969 | 14,859 | 150 | 150 | 199 | |||||||||||||||||||||||||||||
|
180 South Clinton St.
|
Rochester
|
NY
|
(6 | ) |
Frontier Corporation
|
1988/2000 | 226,000 | 2,233 | 2,228 | 0 | |||||||||||||||||||||||||||||
|
201 West Main St.
|
Cumming
|
GA
|
-- |
Bank of America, NA (Bank of America Corporation)
|
1968/1982 | 14,208 | 149 | 149 | 198 | ||||||||||||||||||||||||||||||
|
2223 North Druid Hills Rd.
|
Atlanta
|
GA
|
-- |
Bank of America, NA (Bank of America Corporation)
|
1972 | 6,260 | 84 | 84 | 112 | ||||||||||||||||||||||||||||||
|
275 Technology Dr.
|
Canonsburg
|
PA
|
-- |
ANSYS, Inc.
|
1996 | 107,872 | 1,072 | 1,033 | 0 | ||||||||||||||||||||||||||||||
|
400 Butler Farm Rd.
|
Hampton
|
VA
|
-- |
Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)
|
1999 | 100,632 | 922 | 931 | 0 | ||||||||||||||||||||||||||||||
|
4545 Chamblee – Dunwoody Rd.
|
Chamblee
|
GA
|
-- |
Bank of America, NA (Bank of America Corporation)
|
1972 | 4,565 | 66 | 66 | 88 | ||||||||||||||||||||||||||||||
|
825 Southway Dr.
|
Jonesboro
|
GA
|
-- |
Bank of America, NA (Bank of America Corporation)
|
1971 | 4,894 | 58 | 58 | 77 | ||||||||||||||||||||||||||||||
|
956 Ponce de Leon Ave.
|
Atlanta
|
GA
|
-- |
Bank of America, NA (Bank of America Corporation)
|
1975 | 3,900 | 59 | 59 | 78 | ||||||||||||||||||||||||||||||
|
1698 Mountain Industrial Blvd.
|
Stone Mountain
|
GA
|
-- |
Bank of America, NA (Bank of America Corporation)
|
1973 | 5,704 | 71 | 71 | 95 | ||||||||||||||||||||||||||||||
|
2015
|
1/31/2015
|
26555 Northwestern Hwy.
|
Southfield
|
MI
|
-- |
Federal-Mogul Corporation
|
1963/1965/1988/1989
|
187,163 | 869 | 1,064 | 0 | ||||||||||||||||||||||||||||
|
4/30/2015
|
13775 McLearen Rd.
|
Herndon
|
VA
|
-- |
Equant, Inc. (Equant, NV)
|
1984/1988/1992
|
125,293 | 1,583 | 1,600 | 0 | |||||||||||||||||||||||||||||
|
7/1/2015
|
33 Commercial St.
|
Foxboro
|
MA
|
-- |
Invensys Systems, Inc. (Siebe, Inc.)
|
1982/1987 | 164,689 | 3,505 | 2,628 | 3,024 | |||||||||||||||||||||||||||||
|
7/31/2015
|
4001 International Pkwy.
|
Carrollton
|
TX
|
-- |
Motel 6 Operating, LP (Accor S.A.)
|
2003 | 138,443 | 2,395 | 2,396 | 3,580 | |||||||||||||||||||||||||||||
|
9/27/2015
|
10001 Richmond Ave.
|
Houston
|
TX
|
-- |
Baker Hughes, Inc.
|
1976/1984 | 554,385 | 8,163 | 5,531 | 6,596 | |||||||||||||||||||||||||||||
|
12645 West Airport Rd.
|
Sugar Land
|
TX
|
-- |
Baker Hughes, Inc.
|
1997 | 165,836 | 2,094 | 1,460 | 1,976 | ||||||||||||||||||||||||||||||
|
9/30/2015
|
500 Olde Worthington Rd.
|
Westerville
|
OH
|
(5 | ) |
InVentiv Communications, Inc.
|
2000 | 97,000 | 834 | 942 | 0 | ||||||||||||||||||||||||||||
|
550 Business Center Dr.
|
Lake Mary
|
FL
|
-- |
JPMorgan Chase Bank, National Association
|
1999 | 125,920 | 1,341 | 1,572 | 0 | ||||||||||||||||||||||||||||||
|
600 Business Center Dr.
|
Lake Mary
|
FL
|
-- |
JPMorgan Chase Bank, National Association
|
1996 | 125,155 | 1,286 | 1,538 | 0 | ||||||||||||||||||||||||||||||
|
10/31/2015
|
12209 West Markham St.
|
Little Rock
|
AR
|
-- |
Entergy Arkansas, Inc.
|
1981 | 36,311 | 178 | 178 | 237 | |||||||||||||||||||||||||||||
|
2016
|
4/30/2016
|
11511 Luna Rd.
|
Farmers Branch
|
TX
|
-- |
Haggar Clothing Company (Texas Holding Clothing Corporation and Haggar Corporation)
|
2000 | 180,507 | 1,671 | 2,391 | 2,531 | ||||||||||||||||||||||||||||
|
2000 Eastman Dr.
|
Milford
|
OH
|
-- |
Siemens Shared Services, LLC
|
1991 | 221,215 | 1,865 | 1,367 | 2,486 | ||||||||||||||||||||||||||||||
|
10/31/2016
|
104 & 110 South Front St.
|
Memphis
|
TN
|
-- |
Hnedak Bobo Group, Inc.
|
1871/1988/1999
|
37,229 | 363 | 376 | 0 | |||||||||||||||||||||||||||||
|
11/30/2016
|
4000 Johns Creek Pkwy.
|
Suwanee
|
GA
|
-- |
PerkinElmer Instruments, LLC
|
2001 | 13,955 | 171 | 174 | 0 | |||||||||||||||||||||||||||||
|
2017
|
4/30/2017
|
1315 West Century Dr.
|
Louisville
|
CO
|
-- |
Global Healthcare Exchange, Inc. (Global Healthcare Exchange, LLC)
|
1987/2006 | 106,877 | 1,093 | 1,200 | 0 | ||||||||||||||||||||||||||||
|
9/30/2017
|
9201 East Dry Creek Rd.
|
Centennial
|
CO
|
-- |
The Shaw Group, Inc.
|
2001/2002 | 128,500 | 1,679 | 1,779 | 0 | |||||||||||||||||||||||||||||
|
11/30/2017
|
6200 Northwest Pkwy.
|
San Antonio
|
TX
|
-- |
United HealthCare Services, Inc.
|
2000 | 142,500 | 1,230 | 1,400 | 0 | |||||||||||||||||||||||||||||
|
2018
|
5/30/2018
|
13651 McLearen Rd.
|
Herndon
|
VA
|
-- |
US Government
|
1987 | 159,664 | 2,312 | 2,539 | 0 | ||||||||||||||||||||||||||||
|
6/30/2018
|
100 Barnes Rd.
|
Wallingford
|
CT
|
-- |
3M Company
|
1978/1985/1990/1993
|
44,400 | 510 | 380 | 0 | |||||||||||||||||||||||||||||
|
7/31/2018
|
4200 RCA Blvd.
|
Palm Beach Gardens
|
FL
|
-- |
Office Suites Plus Properties, Inc.
|
1996 | 18,400 | 329 | 337 | 0 | |||||||||||||||||||||||||||||
|
9/30/2018
|
1701 Market St.
|
Philadelphia
|
PA
|
(6 | )(7) |
Brinker Corner Bakery II, LLC
|
1957/1997 | 8,070 | 155 | 158 | 0 | ||||||||||||||||||||||||||||
|
11/30/2018
|
4201 Marsh Ln.
|
Carrollton
|
TX
|
-- |
Carlson Restaurants Worldwide, Inc. (Carlson Companies, Inc.)
|
2003 | 130,000 | 1,445 | 1,482 | 0 | |||||||||||||||||||||||||||||
|
12/22/2018
|
5200 Metcalf Ave.
|
Overland Park
|
KS
|
(6 | ) |
Swiss Re America Holding Corporation
|
1980/1990/2004/2005
|
320,198 | 3,352 | 3,376 | 0 | ||||||||||||||||||||||||||||
|
2019
|
4/1/2019
|
9201 Stateline Rd.
|
Kansas City
|
MO
|
(6 | ) |
Swiss Re America Holding Corporation
|
1963/1973/1985/2003
|
155,925 | 1,578 | 1,578 | 0 | |||||||||||||||||||||||||||
|
6/19/2019
|
3965 Airways Blvd.
|
Memphis
|
TN
|
-- |
Federal Express Corporation
|
1982/1983/1985
|
521,286 | 5,081 | 5,260 | 5,375 | |||||||||||||||||||||||||||||
|
7/31/2019
|
500 Jackson St.
|
Columbus
|
IN
|
-- |
Cummins, Inc.
|
1984 | 390,100 | 3,320 | 3,405 | 4,925 | |||||||||||||||||||||||||||||
|
10/31/2019
|
10475 Crosspoint Blvd.
|
Fishers
|
IN
|
(6 | ) |
John Wiley & Sons, Inc.
|
1999 | 123,416 | 1,574 | 1,701 | 0 | ||||||||||||||||||||||||||||
|
12/31/2019
|
421 Butler Farm Rd.
|
Hampton
|
VA
|
-- |
Patient Advocate Foundation
|
2000 | 36,484 | 266 | 266 | 0 | |||||||||||||||||||||||||||||
|
850-950 Warrenville Rd.
|
Lisle
|
IL
|
(5 | ) |
National-Louis University
|
1985 | 99,414 | 1,048 | 1,238 | 0 | |||||||||||||||||||||||||||||
|
2020
|
1/31/2020
|
10300 Kincaid Dr.
|
Fishers
|
IN
|
-- |
Roche Diagnostics Operations, Inc.
|
1999 | 193,000 | 2,187 | 2,568 | 3,812 | ||||||||||||||||||||||||||||
|
2/14/2020
|
5600 Broken Sound Blvd.
|
Boca Raton
|
FL
|
(6 | ) |
Océ Printing Systems USA, Inc. (Oce-USA Holding, Inc.)
|
1983/2002 | 136,789 | 1,622 | 1,683 | 0 | ||||||||||||||||||||||||||||
Page 14 of 44
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 9/30/2010
|
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
9/30/2010 ($000) (2)
|
GAAP
Base Rent
as of
9/30/2010
($000) (3)
|
Fixed Rent
at
Next
Option
($000) (4)
|
|||||||||||||||||||||||||||
|
7/8/2020
|
1460 Tobias Gadsen Blvd.
|
Charleston
|
SC
|
(6 | ) |
Hagemeyer North America, Inc.
|
2005 | 50,076 | 576 | 630 | 0 | |||||||||||||||||||||||||||
|
2021
|
3/31/2021
|
1311 Broadfield Blvd.
|
Houston
|
TX
|
-- |
Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.)
|
2000 | 155,040 | 2,296 | 1,967 | 0 | |||||||||||||||||||||||||||
|
6/30/2021
|
1415 Wyckoff Rd.
|
Wall
|
NJ
|
-- |
New Jersey Natural Gas Company
|
1983 | 157,511 | 2,290 | 2,290 | 4,224 | ||||||||||||||||||||||||||||
|
11/30/2021
|
29 South Jefferson Rd.
|
Whippany
|
NJ
|
-- |
CAE SimuFlite, Inc. (HP Whippany, LLC)
|
2006/2008 | 123,734 | 1,744 | 1,745 | 2,069 | ||||||||||||||||||||||||||||
|
2022
|
12/31/2022
|
147 Milk St.
|
Boston
|
MA
|
-- |
Harvard Vanguard Medical Associates, Inc.
|
1910 | 52,337 | 1,149 | 1,246 | 0 | |||||||||||||||||||||||||||
|
2023
|
3/31/2023
|
6555 Sierra Dr.
|
Irving
|
TX
|
-- |
TXU Energy Retail Company, LLC (Texas Competitive Electric Holdings Company, LLC)
|
1999 | 247,254 | 2,064 | 2,214 | 0 | |||||||||||||||||||||||||||
|
7/31/2023
|
11201 Renner Blvd.
|
Lenexa
|
KS
|
(6 | ) |
Applebee’s Services, Inc. (DineEquity, Inc.)
|
2007 | 178,000 | 2,681 | 2,927 | 0 | |||||||||||||||||||||||||||
|
2025
|
11/30/2025
|
11707 Miracle Hills Dr.
|
Omaha
|
NE
|
-- |
Infocrossing, LLC (Infocrossing, Inc.)
|
1988/1995 | 85,200 | 875 | 875 | 0 | |||||||||||||||||||||||||||
|
12/31/2025
|
2005 East Technology Cir.
|
Tempe
|
AZ
|
-- |
Infocrossing, Inc.
|
1998 | 60,000 | 846 | 846 | 0 | ||||||||||||||||||||||||||||
|
2028
|
9/30/2028
|
295 Chipeta Way
|
Salt Lake City
|
UT
|
-- |
University of Utah
|
1982 | 295,000 | 2,711 | 2,711 | 0 | |||||||||||||||||||||||||||
|
2029
|
1/31/2029
|
6226 West Sahara Ave.
|
Las Vegas
|
NV
|
-- |
Nevada Power Company
|
1982 | 282,000 | 6,025 | 3,169 | 2,914 | |||||||||||||||||||||||||||
|
12/31/2029
|
400 East Stone Ave.
|
Greenville
|
SC
|
(13 | ) |
Canal Insurance Company
|
1948/1981/1982/1986/1991/2006/2008
|
128,041 | 677 | 0 | 0 | |||||||||||||||||||||||||||
|
N/A
|
N/A |
10475 Crosspoint Blvd.
|
Fishers
|
IN
|
-- |
(Available for Lease)
|
1999 | 13,867 | 0 | 0 | 0 | |||||||||||||||||||||||||||
|
1701 Market St.
|
Philadelphia
|
PA
|
(7 | ) |
Parking Operators
|
1957/1997 | 0 | 1,616 | 1,616 | 0 | ||||||||||||||||||||||||||||
|
421 Butler Farm Rd.
|
Hampton
|
VA
|
-- |
(Available for Lease)(Amounts represent prior tenant)
|
2000 | 20,080 | 30 | 27 | 0 | |||||||||||||||||||||||||||||
|
101 East Erie St.
|
Chicago
|
IL
|
-- |
(Available for Lease)
|
1986 | 14,693 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
|
OFFICE TOTAL/WEIGHTED AVERAGE
|
99.6% Leased
|
12,723,795 | $ | 154,280 | $ | 148,804 | ||||||||||||||||||||||||||||||||
Page 15 of 44
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 9/30/2010
|
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
9/30/2010 ($000) (2)
|
GAAP
Base Rent
as of
9/30/2010
($000) (3)
|
Fixed Rent
at
Next
Option
($000) (4)
|
||||||||||||||||||||||||||||
|
INDUSTRIAL PROPERTIES
|
|||||||||||||||||||||||||||||||||||||||
|
2011
|
2/15/2011
|
1601 Pratt Ave.
|
Marshall
|
MI
|
-- |
Enbridge Energy L.P.
|
1979 | 58,300 | 57 | 57 | 0 | ||||||||||||||||||||||||||||
|
5/31/2011
|
200 Arrowhead Dr.
|
Hebron
|
OH
|
-- |
Owens Corning Insulating Systems, LLC
|
2000 | 400,522 | 601 | 601 | 0 | |||||||||||||||||||||||||||||
|
291 Park Center Dr.
|
Winchester
|
VA
|
(5 | )(20) |
Kraft Foods Global, Inc.
|
2001 | 344,700 | 1,206 | 1,183 | 0 | |||||||||||||||||||||||||||||
|
9/25/2011
|
3820 Micro Dr.
|
Millington
|
TN
|
(6 | ) |
Ingram Micro, L.P (Ingram Micro, Inc.)
|
1997 | 701,819 | 1,830 | 1,778 | 0 | ||||||||||||||||||||||||||||
|
2012
|
8/4/2012
|
101 Michelin Dr.
|
Laurens
|
SC
|
-- |
CEVA Logistics U.S., Inc. (TNT Logistics Holdings, B.V.)
|
1991/1993 | 1,164,000 | 2,560 | 2,478 | 2,619 | ||||||||||||||||||||||||||||
|
7111 Crabb Rd.
|
Temperance
|
MI
|
-- |
CEVA Logistics U.S., Inc. (TNT Logistics Holdings, B.V.)
|
1978/1993 | 744,570 | 1,716 | 1,660 | 1,756 | ||||||||||||||||||||||||||||||
|
10/31/2012
|
43955 Plymouth Oaks Blvd.
|
Plymouth
|
MI
|
-- |
Tower Automotive Operations USA I, LLC (Tower Automotive Inc.)
|
1996/1998 | 290,133 | 1,414 | 1,376 | 2,081 | |||||||||||||||||||||||||||||
|
12/31/2012
|
245 Salem Church Rd.
|
Mechanicsburg
|
PA
|
-- |
Exel, Inc. (NFC plc)
|
1985 | 252,000 | 652 | 649 | 0 | |||||||||||||||||||||||||||||
|
2013
|
5/31/2013
|
2203 Sherrill Dr.
|
Statesville
|
NC
|
-- |
Ozburn-Hessey Logistics, LLC (OHH Acquisition Corporation)
|
1999/2002 | 639,800 | 1,110 | 1,195 | 0 | ||||||||||||||||||||||||||||
|
2014
|
1/2/2014
|
2415 US Hwy. 78 East
|
Moody
|
AL
|
-- |
CEVA Logistics U.S., Inc. (TNT Logistics Holdings, B.V.)
|
2004 | 595,346 | 790 | 790 | 1,054 | ||||||||||||||||||||||||||||
|
1/31/2014
|
1133 Poplar Creek Rd.
|
Henderson
|
NC
|
-- |
Staples, Inc.
|
1998/2006 | 196,946 | 619 | 603 | 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 | 303 | 236 | 446 | |||||||||||||||||||||||||||||
|
75 North St.
|
Saugerties
|
NY
|
(11 | ) |
Rotron, Inc. (EG&G)
|
1979 | 52,000 | 92 | 174 | 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 | 357 | 366 | 525 | ||||||||||||||||||||||||||||
|
2016
|
2/28/2016
|
7670 Hacks Cross Rd.
|
Olive Branch
|
MS
|
-- |
MAHLE Clevite, Inc. (MAHLE Industries, Inc.)
|
1989 | 268,104 | 716 | 687 | 0 | ||||||||||||||||||||||||||||
|
3/31/2016
|
19500 Bulverde Rd.
|
San Antonio
|
TX
|
-- |
Harcourt, Inc. (Harcourt General, Inc.)
|
2001 | 559,258 | 2,498 | 2,572 | 0 | |||||||||||||||||||||||||||||
|
2455 Premier Dr.
|
Orlando
|
FL
|
-- |
Walgreen Co.
|
1980 | 205,016 | 381 | 589 | 508 | ||||||||||||||||||||||||||||||
|
8/31/2016
|
10590 Hamilton Ave.
|
Cincinnati
|
OH
|
-- |
The Hillman Group, Inc.
|
1991/1994/1995/2005
|
248,200 | 594 | 594 | 0 | |||||||||||||||||||||||||||||
|
9/30/2016
|
900 Industrial Blvd.
|
Crossville
|
TN
|
-- |
Dana Commercial Vehicle Products, LLC
|
1989/2006 | 222,200 | 513 | 513 | 0 | |||||||||||||||||||||||||||||
|
2017
|
2/28/2017
|
3456 Meyers Ave.
|
Memphis
|
TN
|
-- |
Sears Logistics Services
|
1973 | 780,000 | 1,194 | 1,271 | 1,592 | ||||||||||||||||||||||||||||
|
6/30/2017
|
7500 Chavenelle Rd.
|
Dubuque
|
IA
|
(6 | ) |
The McGraw-Hill Companies, Inc.
|
2002 | 330,988 | 864 | 873 | 0 | ||||||||||||||||||||||||||||
|
9/30/2017
|
250 Swathmore Ave.
|
High Point
|
NC
|
-- |
Steelcase, Inc.
|
2002 | 244,851 | 807 | 815 | 1,165 | |||||||||||||||||||||||||||||
|
10/31/2017
|
1420 Greenwood Rd.
|
McDonough
|
GA
|
-- |
Versacold USA, Inc.
|
2000/2007 | 296,972 | 1,983 | 1,947 | 0 | |||||||||||||||||||||||||||||
|
2018
|
6/30/2018
|
1650-1654 Williams Rd.
|
Columbus
|
OH
|
-- |
ODW Logistics, Inc.
|
1973 | 772,450 | 1,010 | 1,007 | 0 | ||||||||||||||||||||||||||||
|
9/30/2018
|
50 Tyger River Dr.
|
Duncan
|
SC
|
(6 | ) |
Plastic Omnium Exteriors, LLC
|
2005/2007/2008
|
221,833 | 718 | 718 | 0 | ||||||||||||||||||||||||||||
|
2019
|
4/30/2019
|
113 Wells St.
|
North Berwick
|
ME
|
-- |
United Technologies Corporation
|
1965/1980 | 972,625 | 1,152 | 1,152 | 1,200 | ||||||||||||||||||||||||||||
|
10/17/2019
|
10345 Philipp Pkwy.
|
Streetsboro
|
OH
|
-- |
L'Oreal USA S/D, Inc. (L’Oreal USA, Inc.)
|
2004 | 649,250 | 1,889 | 1,958 | 3,149 | |||||||||||||||||||||||||||||
|
2020
|
3/31/2020
|
2425 Hwy. 77 North
|
Waxahachie
|
TX
|
-- |
James Hardie Building Products, Inc. (James Hardie, NV)
|
1996/2001 | 335,610 | 2,550 | 2,550 | 0 | ||||||||||||||||||||||||||||
|
6/30/2020
|
3102 Queen Palm Dr.
|
Tampa
|
FL
|
-- |
Time Customer Service, Inc. (Time, Inc.)
|
1986 | 229,605 | 885 | 957 | 0 | |||||||||||||||||||||||||||||
|
9/30/2020
|
3350 Miac Cove Rd.
|
Memphis
|
TN
|
-- |
Mimeo.com, Inc.
|
1987 | 107,399 | 300 | 278 | 0 | |||||||||||||||||||||||||||||
|
12/19/2020
|
1901 Ragu Dr.
|
Owensboro
|
KY
|
(9 | ) |
Unilever Supply Chain, Inc. (Unilever United States, Inc.)
|
1975/1979/1995
|
443,380 | 784 | 1,116 | 1,802 | ||||||||||||||||||||||||||||
|
2021
|
3/30/2021
|
121 Technology Dr.
|
Durham
|
NH
|
-- |
Heidelberg Web Systems, Inc.
|
1986/2002/2003
|
500,500 | 1,526 | 1,502 | 0 | ||||||||||||||||||||||||||||
|
5/31/2021
|
477 Distribution Pkwy.
|
Collierville
|
TN
|
-- |
Federal Express Corporation
|
1984/1987/2005
|
120,000 | 360 | 303 | 0 | |||||||||||||||||||||||||||||
|
11/30/2021
|
2880 Kenny Biggs Rd.
|
Lumberton
|
NC
|
-- |
Quickie Manufacturing Corporation
|
1998/2001/2006
|
423,280 | 956 | 1,017 | 0 | |||||||||||||||||||||||||||||
|
12/31/2021
|
224 Harbor Freight Rd.
|
Dillon
|
SC
|
(6 | ) |
Harbor Freight Tools USA, Inc. (Central Purchasing, Inc.)
|
2001/2005 | 1,010,859 | 2,263 | 2,348 | 0 | ||||||||||||||||||||||||||||
|
2025
|
6/30/2025
|
10000 Business Blvd.
|
Dry Ridge
|
KY
|
-- |
Dana Light Axle Products, LLC (Dana Holding Corporation and Dana Limited)
|
1988/1999 | 336,350 | 1,009 | 1,009 | 1,402 | ||||||||||||||||||||||||||||
|
4010 Airpark Dr.
|
Owensboro
|
KY
|
-- |
Metalsa Structural Products, Inc. (Dana Holding Corporation and Dana Limited)
|
1998/2006 | 211,598 | 906 | 906 | 829 | ||||||||||||||||||||||||||||||
|
301 Bill Bryan Rd.
|
Hopkinsville
|
KY
|
-- |
Metalsa Structural Products, Inc. (Dana Holding Corporation and Dana Limited)
|
1989/1999/2000/2005
|
424,904 | 1,266 | 1,266 | 1,512 | ||||||||||||||||||||||||||||||
|
730 North Black Branch Rd.
|
Elizabethtown
|
KY
|
-- |
Metalsa Structural Products, Inc. (Dana Holding Corporation and Dana Limited)
|
2001 | 167,770 | 403 | 403 | 558 | ||||||||||||||||||||||||||||||
|
750 North Black Branch Rd.
|
Elizabethtown
|
KY
|
-- |
Metalsa Structural Products, Inc. (Dana Holding Corporation and Dana Limited)
|
1995/2000/2001
|
539,592 | 2,129 | 2,129 | 2,960 | ||||||||||||||||||||||||||||||
|
7/31/2025
|
7005 Cochran Rd.
|
Glenwillow
|
OH
|
-- |
Royal Appliance Manufacturing Company
|
1997 | 458,000 | 1,458 | 1,688 | 0 | |||||||||||||||||||||||||||||
|
2026
|
10/31/2026
|
5001 Greenwood Rd.
|
Shreveport
|
LA
|
-- |
Libbey Glass, Inc. (Libbey, Inc.)
|
2006 | 646,000 | 1,478 | 1,624 | 0 | ||||||||||||||||||||||||||||
|
N/A
|
N/A
|
1109 Commerce Blvd.
|
Swedesboro
|
NJ
|
-- |
(Available for Lease)
|
1998 | 262,644 | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Page 16 of 44
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 9/30/2010
|
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
9/30/2010 ($000) (2)
|
GAAP
Base Rent
as of
9/30/2010
($000) (3)
|
Fixed Rent
at
Next
Option
($000) (4)
|
||||||||||||||||||||||||||||
|
1665 Hughes Way
|
Long Beach
|
CA
|
(8 | )(18) |
(Available for Lease)
|
1981 | 200,541 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
|
191 Arrowhead Dr.
|
Hebron
|
OH
|
-- |
(Available for Lease)(Amounts represent prior tenant)
|
1999 | 250,410 | 95 | 95 | 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 | 32,679 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
|
34 East Main St.
|
New Kingstown
|
PA
|
-- |
(Available for Lease)
|
1981 | 179,200 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
|
6 Doughten Rd.
|
New Kingstown
|
PA
|
-- |
(Available for Lease)
|
1989 | 330,000 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
|
INDUSTRIAL TOTAL/WEIGHTED AVERAGE
|
92.0% Leased
|
18,917,223 | $ | 45,994 | $ | 47,033 | |||||||||||||||||||||||||||||||||
Page 17 of 44
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 9/30/2010
|
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
9/30/2010 ($000) (2)
|
GAAP
Base Rent
as of
9/30/2010
($000) (3)
|
Fixed Rent
at
Next
Option
($000) (4)
|
||||||||||||||||||||||||||||
|
RETAIL PROPERTIES
|
|||||||||||||||||||||||||||||||||||||||
|
2011
|
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 | 209 | 176 | 0 | ||||||||||||||||||||||||||||
|
12/29/2011
|
13133 Steubner Ave.
|
Houston
|
TX
|
-- |
The Kroger Co.
|
1980 | 52,200 | 211 | 303 | 281 | |||||||||||||||||||||||||||||
|
2012
|
4/30/2012
|
10415 Grande Ave.
|
Sun City
|
AZ
|
-- |
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
|
1982 | 10,000 | 124 | 199 | 0 | ||||||||||||||||||||||||||||
|
119 North Balboa Rd.
|
El Paso
|
TX
|
-- |
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
|
1982 | 10,000 | 124 | 102 | 0 | ||||||||||||||||||||||||||||||
|
402 East Crestwood Dr.
|
Victoria
|
TX
|
-- |
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
|
1982 | 10,000 | 124 | 87 | 0 | ||||||||||||||||||||||||||||||
|
4121 South Port Ave.
|
Corpus Christi
|
TX
|
-- |
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
|
1980 | 10,000 | 124 | 101 | 0 | ||||||||||||||||||||||||||||||
|
900 South Canal St.
|
Carlsbad
|
NM
|
-- |
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
|
1980 | 10,000 | 124 | 79 | 0 | ||||||||||||||||||||||||||||||
|
901 West Expwy.
|
McAllen
|
TX
|
-- |
Cafeteria Operators, LP (Furrs Restaurant Group, Inc.)
|
1980 | 10,000 | 124 | 123 | 0 | ||||||||||||||||||||||||||||||
|
5/31/2012
|
3451 Alta Mesa Blvd.
|
Fort Worth
|
TX
|
-- |
Minyard Food Stores, Inc.
|
1985 | 44,000 | 228 | 271 | 304 | |||||||||||||||||||||||||||||
|
6/30/2012
|
1600 East 23rd St.
|
Chattanooga
|
TN
|
-- |
BI-LO, LLC
|
1983 | 42,130 | 98 | 98 | 138 | |||||||||||||||||||||||||||||
|
11/30/2012
|
101 West Buckingham Rd.
|
Garland
|
TX
|
-- |
Minyard Food Stores, Inc.
|
1982 | 40,000 | 244 | 244 | 326 | |||||||||||||||||||||||||||||
|
120 South Waco St.
|
Hillsboro
|
TX
|
-- |
Brookshire Grocery Company
|
1985 | 35,000 | 121 | 140 | 161 | ||||||||||||||||||||||||||||||
|
205 Homer Rd.
|
Minden
|
LA
|
-- |
Brookshire Grocery Company
|
1985 | 35,000 | 145 | 214 | 193 | ||||||||||||||||||||||||||||||
|
2013
|
2/28/2013
|
US 221 & Hospital Rd.
|
Jefferson
|
NC
|
-- |
Food Lion, Inc. (Delhaize America, Inc.)
|
1981 | 23,000 | 55 | 55 | 73 | ||||||||||||||||||||||||||||
|
291 Talbert Blvd.
|
Lexington
|
NC
|
-- |
Food Lion, Inc. (Delhaize America, Inc.)
|
1981 | 23,000 | 104 | 104 | 138 | ||||||||||||||||||||||||||||||
|
S. Carolina 52/52 Bypass
|
Moncks Corner
|
SC
|
-- |
Food Lion, Inc. (Delhaize America, Inc.)
|
1982 | 23,000 | 46 | 92 | 62 | ||||||||||||||||||||||||||||||
|
3211 West Beverly St.
|
Staunton
|
VA
|
-- |
Food Lion, Inc. (Delhaize America, Inc.)
|
1971 | 23,000 | 124 | 124 | 166 | ||||||||||||||||||||||||||||||
|
1146 Gum Branch Rd.
|
Jacksonville
|
NC
|
-- |
Food Lion, Inc. (Delhaize America, Inc.)
|
1982/1995 | 23,000 | 63 | 83 | 84 | ||||||||||||||||||||||||||||||
|
7/1/2013
|
1053 Mineral Springs Rd.
|
Paris
|
TN
|
-- |
The Kroger Co.
|
1982 | 31,170 | 119 | 160 | 159 | |||||||||||||||||||||||||||||
|
10/31/2013
|
1084 East Second St.
|
Franklin
|
OH
|
-- |
Marsh Supermarkets, Inc.
|
1961/1978 | 29,119 | 84 | 118 | 111 | |||||||||||||||||||||||||||||
|
130 Midland Ave.
|
Port Chester
|
NY
|
-- |
Pathmark Stores, Inc.
|
1982 | 59,000 | 344 | 898 | 458 | ||||||||||||||||||||||||||||||
|
5104 North Franklin Rd.
|
Lawrence
|
IN
|
-- |
Marsh Supermarkets, Inc.
|
1958 | 28,721 | 145 | 145 | 193 | ||||||||||||||||||||||||||||||
|
2014
|
3/31/2014
|
N.E.C. 45th St./Lee Blvd.
|
Lawton
|
OK
|
-- |
Associated Wholesale Grocers, Inc.
|
1984 | 30,757 | 139 | 155 | 185 | ||||||||||||||||||||||||||||
|
2015
|
1/31/2015
|
1700 State Route 160
|
Port Orchard
|
WA
|
-- |
Moran Foods, Inc. d/b/a Save-A-Lot, Ltd.
|
1983 | 16,037 | 61 | 61 | 97 | ||||||||||||||||||||||||||||
|
5/31/2015
|
24th St. West & St. John’s Ave.
|
Billings
|
MT
|
-- |
Safeway Stores, Inc.
|
1981 | 40,800 | 140 | 250 | 0 | |||||||||||||||||||||||||||||
|
2016
|
5/31/2016
|
18601 Alderwood Mall Blvd.
|
Lynnwood
|
WA
|
-- |
TRU 2005 RE I, LLC
|
1981/1993 | 43,105 | 211 | 224 | 279 | ||||||||||||||||||||||||||||
|
4811 Wesley St.
|
Greenville
|
TX
|
-- |
Safeway Stores, Inc.
|
1985 | 48,492 | 128 | 181 | 171 | ||||||||||||||||||||||||||||||
|
12535 Southeast 82nd Ave.
|
Clackamas
|
OR
|
-- |
TRU 2005 RE I, LLC
|
1981 | 42,842 | 229 | 243 | 298 | ||||||||||||||||||||||||||||||
|
6910 South Memorial Hwy.
|
Tulsa
|
OK
|
-- |
Toys "R" Us-Delaware, Inc.
|
1981 | 43,123 | 193 | 205 | 255 | ||||||||||||||||||||||||||||||
|
2017
|
3/31/2017
|
1610 South Westmoreland Ave.
|
Dallas
|
TX
|
-- |
Malone’s Food Stores, Ltd.
|
1960 | 68,024 | 269 | 359 | 376 | ||||||||||||||||||||||||||||
|
2018
|
2/26/2018
|
4831 Whipple Ave., Northwest
|
Canton
|
OH
|
-- |
Best Buy Company, Inc.
|
1995 | 46,350 | 349 | 349 | 465 | ||||||||||||||||||||||||||||
|
399 Peachwood Centre Dr.
|
Spartanburg
|
SC
|
-- |
Best Buy Company, Inc.
|
1996 | 45,800 | 296 | 296 | 395 | ||||||||||||||||||||||||||||||
|
9/30/2018
|
835 Julian Ave.
|
Thomasville
|
NC
|
-- |
Mighty Dollar, LLC
|
1983 | 23,767 | 52 | 52 | 0 | |||||||||||||||||||||||||||||
|
10/31/2018
|
10340 U.S. 19
|
Port Richey
|
FL
|
-- |
Kingswere Furniture, LLC
|
1980 | 53,280 | 260 | 260 | 400 | |||||||||||||||||||||||||||||
|
12/31/2018
|
1150 West Carl Sandburg Dr.
|
Galesburg
|
IL
|
-- |
Kmart Corporation
|
1992 | 94,970 | 212 | 247 | 0 | |||||||||||||||||||||||||||||
|
12080 Carmel Mountain Rd.
|
San Diego
|
CA
|
-- |
Sears Holdings Corporation
|
1993 | 107,210 | 240 | 563 | 0 | ||||||||||||||||||||||||||||||
|
21082 Pioneer Plaza Dr.
|
Watertown
|
NY
|
-- |
Kmart Corporation
|
1993 | 120,727 | 355 | 361 | 0 | ||||||||||||||||||||||||||||||
|
255 Northgate Dr.
|
Manteca
|
CA
|
-- |
Kmart Corporation
|
1993 | 107,489 | 377 | 446 | 0 | ||||||||||||||||||||||||||||||
|
5350 Leavitt Rd.
|
Lorain
|
OH
|
-- |
Kmart Corporation
|
1993 | 193,193 | 534 | 548 | 0 | ||||||||||||||||||||||||||||||
|
97 Seneca Trail
|
Fairlea
|
WV
|
-- |
Kmart Corporation
|
1993/1999 | 90,933 | 249 | 260 | 0 | ||||||||||||||||||||||||||||||
|
2021
|
1/31/2021
|
3040 Josey Ln.
|
Carrollton
|
TX
|
-- |
Ong’s Family, Inc.
|
1984 | 61,000 | 206 | 305 | 0 | ||||||||||||||||||||||||||||
Page 18 of 44
LEXINGTON REALTY TRUST
Property Leases and Vacancies - Consolidated Portfolio - 9/30/2010
|
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
9/30/2010 ($000) (2)
|
GAAP
Base Rent
as of
9/30/2010
($000) (3)
|
Fixed Rent
at
Next
Option
($000) (4)
|
||||||||||||||||||||||||||||
|
2028
|
1/31/2028
|
2010 Apalachee Pkwy.
|
Tallahassee
|
FL
|
-- |
Kohl's Department Stores, Inc.
|
2007 | 102,381 | 300 | 315 | 484 | ||||||||||||||||||||||||||||
|
8/31/2028
|
9803 Edmonds Way
|
Edmonds
|
WA
|
-- |
Pudget Consumers Co-op d/b/a PCC Natural Markets
|
1981 | 34,459 | 452 | 452 | 0 | |||||||||||||||||||||||||||||
|
N/A
|
N/A |
1700 State Route 160
|
Port Orchard
|
WA
|
-- |
(Available for Lease)
|
1983 | 11,931 | 0 | 0 | 0 | ||||||||||||||||||||||||||||
|
5544 Atlanta Hwy.
|
Montgomery
|
AL
|
-- |
(Available for Lease)
|
1980/2007 | 60,698 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
|
RETAIL TOTAL/WEIGHTED AVERAGE
|
96.5% Leased
|
2,095,922 | $ | 8,336 | $ | 10,048 | |||||||||||||||||||||||||||||||||
Page 19 of 44
|
Property Leases and Vacancies - Consolidated Portfolio - 9/30/2010
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Year of Lease Expiration
|
Date of Lease Expiration
|
Property Location
|
City
|
State
|
Note
|
Primary Tenant (Guarantor)
|
Year Built/
Renovated/
Expanded
|
Gross
Book
Value
($000) (14)
|
Sq.Ft.
|
Percentage Leased
|
Cash
Rent
as of
9/30/2010
($000) (2)
|
GAAP
Base Rent
as of
9/30/2010
($000) (3)
|
Debt
Balance
($000)
|
||||||||||||||||||||||||||||||||||
|
MULTI-TENANT PROPERTIES (21)
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Various
|
Various
|
10 John St.
|
Clinton
|
CT
|
(9 | ) |
Multi-Tenant
|
1972 | 3,195 | 41,188 | 0 | % | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||
|
100 East Shore Dr.
|
Glen Allen
|
VA
|
-- |
Multi-Tenant
|
1999 | 11,505 | 68,003 | 100 | % | 1,023 | 1,010 | 19,483 | |||||||||||||||||||||||||||||||||||
|
100 Light St.
|
Baltimore
|
MD
|
(19 | ) |
Multi-Tenant
|
1973/2009 | 217,661 | 474,498 | 72 | % | 3,160 | 3,676 | 0 | ||||||||||||||||||||||||||||||||||
|
130 East Shore Dr.
|
Glen Allen
|
VA
|
(17 | ) |
Multi-Tenant
|
2000 | 13,480 | 79,675 | 65 | % | 444 | 554 | 0 | ||||||||||||||||||||||||||||||||||
|
13430 North Black Canyon Fwy.
|
Phoenix
|
AZ
|
(15 | ) |
Multi-Tenant
|
1981/1982/2005/2007/2009
|
25,441 | 138,940 | 100 | % | 1,554 | 1,549 | 0 | ||||||||||||||||||||||||||||||||||
|
1500 Hughes Way
|
Long Beach
|
CA
|
(8 | )(16) |
Multi-Tenant
|
1981 | 118,172 | 490,555 | 67 | % | 5,240 | 5,465 | 14,397 | ||||||||||||||||||||||||||||||||||
|
160 Clairemont Ave.
|
Decatur
|
GA
|
-- |
Multi-Tenant
|
1983 | 19,865 | 121,596 | 78 | % | 1,176 | 1,176 | 0 | |||||||||||||||||||||||||||||||||||
|
2300 Litton Ln.
|
Hebron
|
KY
|
(15 | ) |
Multi-Tenant
|
1986/1996 | 9,740 | 80,441 | 100 | % | 354 | 341 | 0 | ||||||||||||||||||||||||||||||||||
|
3468 Georgia Hwy. 120
|
Duluth
|
GA
|
(15 | ) |
Multi-Tenant
|
1971 | 423 | 10,341 | 0 | % | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||
|
350 Pine St.
|
Beaumont
|
TX
|
(15 | ) |
Multi-Tenant
|
1981 | 28,809 | 425,198 | 82 | % | 3,058 | 3,195 | 0 | ||||||||||||||||||||||||||||||||||
|
389-399 Interpace Hwy.
|
Parsipanny
|
NJ
|
-- |
Multi-Tenant
|
1999 | 108,104 | 340,240 | 94 | % | 6,911 | 7,192 | 37,487 | |||||||||||||||||||||||||||||||||||
|
6050 Dana Way
|
Antioch
|
TN
|
-- |
Multi-Tenant
|
1999 | 26,200 | 674,528 | 52 | % | 846 | 846 | 12,860 | |||||||||||||||||||||||||||||||||||
|
6277 Sea Harbor Dr.
|
Orlando
|
FL
|
-- |
Multi-Tenant
|
1984 | 51,728 | 360,307 | 0 | % | 83 | 83 | 0 | |||||||||||||||||||||||||||||||||||
|
King St./1032 Fort St. Mall
|
Honolulu
|
HI
|
(15 | ) |
Multi-Tenant
|
1979/2002 | 47,109 | 318,451 | 95 | % | 1,989 | 2,057 | 0 | ||||||||||||||||||||||||||||||||||
|
MULTI-TENANT TOTAL/WEIGHTED AVERAGE
|
66.9% Leased
|
3,623,961 | $ | 25,838 | $ | 27,144 | $ | 84,227 | |||||||||||||||||||||||||||||||||||||||
|
TOTAL CONSOLIDATED PORTFOLIO/WEIGHTED AVERAGE
|
92.4% Leased
|
37,360,901 | 234,448 | 233,029 | |||||||||||||||||||||||||||||||||||||||||||
Footnotes
|
(1)
|
Square foot leased or vacant.
|
|
(2)
|
Nine months ended 09/30/10 cash rent.
|
|
(3)
|
Nine months ended 09/30/10 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)
|
Option rent lesser of the noted rent or a function of fair market value such as 100%, 95%, or 90%.
|
|
(6)
|
Option rent greater of the noted rent or a function of fair market value such as 100%, 95%, or 90%.
|
|
(7)
|
Lexington has an 80.5% interest in this property.
|
|
(8)
|
Lexington has a 55.0% interest in this property.
|
|
(9)
|
Lexington has a 71.1% interest in this property.
|
|
(10)
|
Tenant exercised lease termination option effective 12/31/2011 and paid $6.8 million.
|
|
(11)
|
Lexington has a 57.8% interest in this property.
|
|
(12)
|
Current lease ends 05/2013, however, new tenant (Problem Solved, LLC) lease expires 05/2014.
|
|
(13)
|
Property is classified as a capital lease accordingly, for GAAP income of $734 is included in non-operating income.
|
|
(14)
|
Represents GAAP capitalized costs.
|
|
(15)
|
Property is collateral for secured credit facility.
|
|
(16)
|
Contract right payable, satisfied subsequent to quarter end.
|
|
(17)
|
Mortgage shown under 100 East Shore Dr., Glen Allen VA.
|
|
(18)
|
Property sold subsequent to September 30, 2010.
|
|
(19)
|
Includes parking operations.
|
|
(20)
|
Subsequent to September 30, 2010, lease term extended to 5/31/2016.
|
|
(21)
|
The multi-tenanted properties incurred approximately $14.7 million in operating expenses, net for the nine months ended September 30, 2010.
|
|
(22)
|
Subsequent to September 30, 2010, tenant extended lease to 11/30/2021 for 20,500 square feet. Approximately 16,000 of the remaining 43,300 square feet is subleased.
|
Page 20 of 44
|
LEXINGTON REALTY TRUST
|
|||||||||||||||||||||||||||||||||||||||
|
Property Leases and Vacancies - Net Lease Strategic Assets Fund Portfolio - 9/30/2010
|
|||||||||||||||||||||||||||||||||||||||
|
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
9/30/2010 ($000) (2)
|
GAAP
Base Rent
as of
9/30/2010
($000) (3)
|
Fixed Rent
at
Next
Option
($000) (4)
|
||||||||||||||||||||||||||||
|
NET LEASE STRATEGIC ASSETS FUND PROPERTIES
|
|||||||||||||||||||||||||||||||||||||||
|
2011
|
5/31/2011
|
1200 Jupiter Rd.
|
Garland
|
TX
|
-- |
Raytheon Company
|
1980 | 278,759 | 1,130 | 1,540 | 1,506 | ||||||||||||||||||||||||||||
|
6/30/2011
|
265 Lehigh St.
|
Allentown
|
PA
|
-- |
Wells Fargo Bank, N.A.
|
1980 | 71,230 | 286 | 1,618 | 0 | |||||||||||||||||||||||||||||
|
7/15/2011
|
19019 North 59th Ave.
|
Glendale
|
AZ
|
-- |
Honeywell International, Inc.
|
1986/1997/2000
|
252,300 | 1,839 | 2,332 | 0 | |||||||||||||||||||||||||||||
|
2012
|
4/30/2012
|
3600 Army Post Rd.
|
Des Moines
|
IA
|
(6 | ) |
HP Enterprise Services, LLC
|
2002 | 405,000 | 2,241 | 2,226 | 0 | |||||||||||||||||||||||||||
|
5/31/2012
|
101 Creger Dr.
|
Ft. Collins
|
CO
|
-- |
Lithia Real Estate, Inc. (Lithia Motors, Inc.)
|
1982 | 10,000 | 206 | 177 | 0 | |||||||||||||||||||||||||||||
|
2013
|
5/31/2013
|
2401 Cherahala Blvd.
|
Knoxville
|
TN
|
-- |
AdvancePCS, Inc.
|
2002 | 59,748 | 675 | 675 | 0 | ||||||||||||||||||||||||||||
|
6/30/2013
|
420 Riverport Rd.
|
Kingsport
|
TN
|
-- |
Kingsport Power Company
|
1981 | 42,770 | 233 | 230 | 310 | |||||||||||||||||||||||||||||
|
8555 South River Pkwy.
|
Tempe
|
AZ
|
(6 | ) |
ASM Lithography, Inc. (ASM Lithography Holding, NV)
|
1998 | 95,133 | 1,765 | 1,658 | 0 | |||||||||||||||||||||||||||||
|
10/14/2013
|
3943 Denny Ave.
|
Pascagoula
|
MS
|
-- |
Northrop Grumman Systems Corporation
|
1995 | 94,841 | 479 | 479 | 0 | |||||||||||||||||||||||||||||
|
12/31/2013
|
120 Southeast Pkwy. Dr.
|
Franklin
|
TN
|
-- |
Essex Group, Inc. (United Technologies Corporation)
|
1970/1983 | 289,330 | 551 | 491 | 735 | |||||||||||||||||||||||||||||
|
2014
|
1/31/2014
|
1401 & 1501 Nolan Ryan Pkwy.
|
Arlington
|
TX
|
-- |
Siemens Shared Services, LLC
|
2003 | 236,547 | 2,042 | 2,010 | 0 | ||||||||||||||||||||||||||||
|
4/30/2014
|
12000 & 12025 Tech Center Dr.
|
Livonia
|
MI
|
(6 | ) |
Kelsey-Hayes Company (TRW Automotive, Inc.)
|
1987/1988/1990
|
180,230 | 1,530 | 1,556 | 0 | ||||||||||||||||||||||||||||
|
7/1/2014
|
70 Mechanic St.
|
Foxboro
|
MA
|
-- |
Invensys Systems, Inc. (Siebe, Inc.)
|
1965/1967/1971
|
251,914 | 3,131 | 2,822 | 2,562 | |||||||||||||||||||||||||||||
|
12/31/2014
|
324 Industrial Park Rd.
|
Franklin
|
NC
|
(5 | ) |
SKF USA, Inc.
|
1996 | 72,868 | 317 | 317 | 0 | ||||||||||||||||||||||||||||
|
2015
|
6/30/2015
|
2935 Van Vactor Dr.
|
Plymouth
|
IN
|
-- |
Bay Valley Foods, LLC
|
2000/2003 | 300,500 | 596 | 607 | 853 | ||||||||||||||||||||||||||||
|
3711 San Gabriel
|
Mission
|
TX
|
-- |
VoiceStream PCS II Corporation (T-Mobile USA, Inc.)
|
2003 | 75,016 | 788 | 765 | 0 | ||||||||||||||||||||||||||||||
|
2500 Patrick Henry Pkwy.
|
McDonough
|
GA
|
-- |
Georgia Power Company
|
1999 | 111,911 | 1,128 | 1,152 | 0 | ||||||||||||||||||||||||||||||
|
1700 47th Ave North
|
Minneapolis
|
MN
|
(5 | ) |
Owens Corning Roofing and Asphalt, LLC
|
2003 | 18,620 | 453 | 453 | 0 | |||||||||||||||||||||||||||||
|
9/27/2015
|
9110 Grogans Mill Rd.
|
The Woodlands
|
TX
|
-- |
Baker Hughes, Inc.
|
1992 | 275,750 | 3,363 | 2,361 | 2,756 | |||||||||||||||||||||||||||||
|
2529 West Thorne Dr.
|
Houston
|
TX
|
-- |
Baker Hughes, Inc.
|
1982/1999 | 65,500 | 929 | 628 | 746 | ||||||||||||||||||||||||||||||
|
10/31/2015
|
5201 West Barraque St.
|
Pine Bluff
|
AR
|
-- |
Entergy Services, Inc.
|
1964/1973 | 27,189 | 144 | 144 | 192 | |||||||||||||||||||||||||||||
|
2016
|
1/31/2016
|
1600 Eberhardt Rd.
|
Temple
|
TX
|
-- |
Nextel of Texas (Nextel Finance Company)
|
2001 | 108,800 | 1,142 | 1,213 | 0 | ||||||||||||||||||||||||||||
|
7/14/2016
|
1400 Northeast McWilliams Rd.
|
Bremerton
|
WA
|
-- |
Nextel West Corporation
|
2002 | 60,200 | 814 | 875 | 0 | |||||||||||||||||||||||||||||
|
11/30/2016
|
736 Addison Rd.
|
Erwin
|
NY
|
(6 | ) |
Corning, Inc.
|
2006 | 408,000 | 884 | 884 | 0 | ||||||||||||||||||||||||||||
|
2017
|
12/31/2017
|
11411 North Kelly Ave.
|
Oklahoma City
|
OK
|
-- |
American Golf Corporation
|
1991/1996 | 13,924 | 357 | 359 | 0 | ||||||||||||||||||||||||||||
|
2018
|
3/15/2018
|
601 & 701 Experian Pkwy.
|
Allen
|
TX
|
-- |
Experian Information Solutions, Inc. (Experian Holdings, Inc.)
|
1981/1983 | 292,700 | 2,301 | 2,791 | 0 | ||||||||||||||||||||||||||||
|
8/31/2018
|
3500 North Loop Rd.
|
McDonough
|
GA
|
-- |
Litton Loan Servicing, LP
|
2007 | 62,218 | 862 | 862 | 0 | |||||||||||||||||||||||||||||
|
9/30/2018
|
904 Industrial Rd.
|
Marshall
|
MI
|
-- |
Tenneco Automotive Operating Company, Inc. (Tenneco, Inc.)
|
1968/1972/2008
|
246,508 | 574 | 602 | 925 | |||||||||||||||||||||||||||||
|
2019
|
1/31/2019
|
2999 Southwest 6th St.
|
Redmond
|
OR
|
-- |
VoiceStream PCS I, LLC (T-Mobile USA, Inc.)
|
2004 | 77,484 | 1,148 | 1,179 | 0 | ||||||||||||||||||||||||||||
|
6/28/2019
|
3265 East Goldstone Dr.
|
Meridian
|
ID
|
(6 | ) |
VoiceStream PCS Holding, LLC (T-Mobile USA, Inc.)
|
2004 | 77,484 | 954 | 1,023 | 0 | ||||||||||||||||||||||||||||
|
10/31/2019
|
17191 St. Luke's Way
|
The Woodlands
|
TX
|
-- |
Montgomery County Management Company, LLC
|
2004 | 41,000 | 599 | 739 | 0 | |||||||||||||||||||||||||||||
|
9601 Renner Blvd.
|
Lenexa
|
KS
|
(6 | ) |
VoiceStream PCS II Corporation (T-Mobile USA, Inc.)
|
2004 | 77,484 | 971 | 1,044 | 0 | |||||||||||||||||||||||||||||
|
2020
|
5/31/2020
|
359 Gateway Dr.
|
Lavonia
|
GA
|
-- |
TI Group Automotive Systems, LLC (TI Automotive, Ltd.)
|
2005 | 133,221 | 900 | 900 | 0 | ||||||||||||||||||||||||||||
|
6/30/2020
|
10419 North 30th St.
|
Tampa
|
FL
|
-- |
Time Customer Service, Inc. (Time, Inc.)
|
1986 | 132,981 | 977 | 1,017 | 0 | |||||||||||||||||||||||||||||
|
8/31/2020
|
First Park Dr.
|
Oakland
|
ME
|
(6 | ) |
Omnipoint Holdings, Inc. (T-Mobile USA, Inc.)
|
2005 | 78,610 | 963 | 862 | 0 | ||||||||||||||||||||||||||||
|
11/30/2020
|
11555 University Blvd.
|
Sugar Land
|
TX
|
-- |
KS Management Services, LLP (St. Luke’s Episcopal Health System Corporation)
|
2005 | 72,683 | 836 | 938 | 0 | |||||||||||||||||||||||||||||
|
2021
|
10/25/2021
|
6938 Elm Valley Dr.
|
Kalamazoo
|
MI
|
-- |
Dana Commercial Vehicle Products, LLC (Dana Holding Corporation and Dana Limited)
|
1999/2004 | 150,945 | 1,382 | 1,449 | 0 | ||||||||||||||||||||||||||||
|
2022
|
7/31/2022
|
1440 East 15th St.
|
Tucson
|
AZ
|
-- |
CoxCom, Inc.
|
1988 | 28,591 | 393 | 412 | 0 | ||||||||||||||||||||||||||||
|
2025
|
7/14/2025
|
590 Ecology Ln.
|
Chester
|
SC
|
-- |
Owens Corning, Inc.
|
2001/2005 | 420,597 | 1,639 | 1,626 | 1,678 | ||||||||||||||||||||||||||||
|
2026
|
8/31/2026
|
25500 State Hwy. 249
|
Tomball
|
TX
|
-- |
Parkway Chevrolet, Inc. (Raymond Durdin and Jean W. Durdin)
|
2005 | 77,076 | 977 | 1,130 | 0 | ||||||||||||||||||||||||||||
Page 21 of 44
|
LEXINGTON REALTY TRUST
|
||||||||||||||||||||||||||||||||||||||||
|
Property Leases and Vacancies - Net Lease Strategic Assets Fund Portfolio - 9/30/2010
|
||||||||||||||||||||||||||||||||||||||||
|
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
9/30/2010 ($000) (2)
|
GAAP
Base Rent
as of
9/30/2010
($000) (3)
|
Fixed Rent
at
Next
Option
($000) (4)
|
|||||||||||||||||||||||||||||
|
NET LEASE STRATEGIC ASSETS FUND PROPERTIES
|
||||||||||||||||||||||||||||||||||||||||
|
2027
|
4/30/2027
|
2424 Alpine Rd.
|
Eau Claire
|
WI
|
(6 | ) |
Silver Spring Gardens, Inc. (Huntsinger Farms, Inc.)
|
1993/2004 | 159,000 | 698 | 878 | 0 | ||||||||||||||||||||||||||||
|
N/A
|
N/A |
109 Stevens St.
|
Jacksonville
|
FL
|
-- |
(Available for Lease)(Amounts represent prior tenant)
|
1959/1967 | 168,800 | 74 | 74 | 0 | |||||||||||||||||||||||||||||
|
NET LEASE STRATEGIC ASSETS FUND TOTAL/WEIGHTED AVERAGE
|
97.2% Leased
|
6,103,462 | $ | 43,271 | $ | 45,098 | ||||||||||||||||||||||||||||||||||
Footnotes
|
(1)
|
Square foot leased or vacant.
|
|
(2)
|
Nine months ended 09/30/10 cash rent.
|
|
(3)
|
Nine months ended 09/30/10 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)
|
Option rent lesser of the noted rent or a function of fair market value such as 100%, 95%, or 90%.
|
|
(6)
|
Option rent greater of the noted rent or a function of fair market value such as 100%, 95%, or 90%.
|
Page 22 of 44
|
LEXINGTON REALTY TRUST
|
||||||||||||||||||||||||||||||||||||
|
Lease Rollover Schedule by Property Type - Cash Basis
|
||||||||||||||||||||||||||||||||||||
|
9/30/2010
|
||||||||||||||||||||||||||||||||||||
|
Office
|
Industrial
|
Retail
|
||||||||||||||||||||||||||||||||||
|
Year
|
Net
Rentable
Area
|
Cash Rent
as of
9/30/2010
($000)
|
Annual
Rent
PSF
|
Net
Rentable
Area
|
Cash Rent
as of
9/30/2010
($000)
|
Annual
Rent
PSF
|
Net
Rentable
Area
|
Cash Rent
as of
9/30/2010
($000)
|
Annual
Rent
PSF
|
|||||||||||||||||||||||||||
|
2010
|
5,315 | $ | 179 | $ | 44.90 | - | $ | - | $ | - | - | $ | - | $ | - | |||||||||||||||||||||
|
2011
|
636,081 | $ | 10,537 | $ | 22.09 | 1,505,341 | $ | 3,694 | $ | 3.27 | 89,414 | $ | 420 | $ | 6.26 | |||||||||||||||||||||
|
2012
|
1,591,463 | $ | 17,505 | $ | 14.67 | 2,450,703 | $ | 6,342 | $ | 3.45 | 256,130 | $ | 1,580 | $ | 8.22 | |||||||||||||||||||||
|
2013
|
1,657,654 | $ | 18,091 | $ | 14.55 | 639,800 | $ | 1,110 | $ | 2.31 | 263,010 | $ | 1,084 | $ | 5.50 | |||||||||||||||||||||
|
2014
|
2,082,325 | $ | 27,289 | $ | 17.47 | 934,292 | $ | 1,804 | $ | 2.57 | 30,757 | $ | 139 | $ | 6.03 | |||||||||||||||||||||
|
2015
|
1,720,195 | $ | 22,248 | $ | 14.58 | 150,000 | $ | 357 | $ | 3.17 | 56,837 | $ | 201 | $ | 4.72 | |||||||||||||||||||||
|
2016
|
452,906 | $ | 4,070 | $ | 11.98 | 1,502,778 | $ | 4,702 | $ | 4.17 | 177,562 | $ | 761 | $ | 5.71 | |||||||||||||||||||||
|
2017
|
377,877 | $ | 4,002 | $ | 14.12 | 1,652,811 | $ | 4,848 | $ | 3.91 | 68,024 | $ | 269 | $ | 5.27 | |||||||||||||||||||||
|
2018
|
680,732 | $ | 8,103 | $ | 15.87 | 994,283 | $ | 1,728 | $ | 2.32 | 883,719 | $ | 2,924 | $ | 4.41 | |||||||||||||||||||||
|
2019
|
1,326,625 | $ | 12,867 | $ | 12.93 | 1,621,875 | $ | 3,041 | $ | 2.50 | - | $ | - | $ | - | |||||||||||||||||||||
|
2020
|
379,865 | $ | 4,385 | $ | 15.39 | 1,115,994 | $ | 4,519 | $ | 5.40 | - | $ | - | $ | - | |||||||||||||||||||||
|
2021
|
436,285 | $ | 6,330 | $ | 19.35 | 2,054,639 | $ | 5,105 | $ | 3.31 | 61,000 | $ | 206 | $ | 4.50 | |||||||||||||||||||||
|
2022
|
52,337 | $ | 1,149 | $ | 29.27 | - | $ | - | $ | - | - | $ | - | $ | - | |||||||||||||||||||||
|
2023
|
425,254 | $ | 4,745 | $ | 14.88 | - | $ | - | $ | - | - | $ | - | $ | - | |||||||||||||||||||||
|
2024
|
- | $ | - | $ | - | - | $ | - | $ | - | - | $ | - | $ | - | |||||||||||||||||||||
|
2025
|
145,200 | $ | 1,721 | $ | 15.80 | 2,138,214 | $ | 7,171 | $ | 4.47 | - | $ | - | $ | - | |||||||||||||||||||||
|
2026
|
- | $ | - | $ | - | 646,000 | $ | 1,478 | $ | 3.05 | - | $ | - | $ | - | |||||||||||||||||||||
|
2027
|
- | $ | - | $ | - | - | $ | - | $ | - | - | $ | - | $ | - | |||||||||||||||||||||
|
2028
|
295,000 | $ | 2,711 | $ | 12.25 | - | $ | - | $ | - | 136,840 | $ | 752 | $ | 7.33 | |||||||||||||||||||||
|
2029
|
410,041 | $ | 6,702 | $ | 21.79 | - | $ | - | $ | - | - | $ | - | $ | - | |||||||||||||||||||||
|
Total/Weighted Average (1)
|
12,675,155 | $ | 152,634 | $ | 15.69 | 17,406,730 | $ | 45,899 | $ | 3.52 | 2,023,293 | $ | 8,336 | $ | 5.49 | |||||||||||||||||||||
Footnotes
|
(1)
|
Total shown may differ from detailed amounts due to rounding and does not include multi-tenant properties and parking operations.
|
Page 23 of 44
|
LEXINGTON REALTY TRUST
|
||||||||||||
|
Lease Rollover Schedule - GAAP Basis
|
||||||||||||
|
9/30/2010
|
||||||||||||
|
Year
|
Number of
Leases
Expiring
|
GAAP Base
Rent as of 9/30/2010
($000)
|
Percent of
GAAP Base Rent
as of
9/30/2010
|
|||||||||
|
2010
|
1 | $ | 179 | 0.1 | % | |||||||
|
2011
|
12 | $ | 13,524 | 6.6 | % | |||||||
|
2012
|
29 | $ | 24,716 | 12.1 | % | |||||||
|
2013
|
22 | $ | 21,562 | 10.6 | % | |||||||
|
2014
|
27 | $ | 29,844 | 14.6 | % | |||||||
|
2015
|
13 | $ | 19,586 | 9.6 | % | |||||||
|
2016
|
13 | $ | 10,116 | 5.0 | % | |||||||
|
2017
|
8 | $ | 9,644 | 4.7 | % | |||||||
|
2018
|
18 | $ | 13,379 | 6.6 | % | |||||||
|
2019
|
8 | $ | 16,558 | 8.1 | % | |||||||
|
2020
|
7 | $ | 9,782 | 4.8 | % | |||||||
|
2021
|
8 | $ | 11,477 | 5.6 | % | |||||||
|
2022
|
1 | $ | 1,246 | 0.6 | % | |||||||
|
2023
|
2 | $ | 5,141 | 2.5 | % | |||||||
|
2024
|
- | $ | - | - | ||||||||
|
2025
|
8 | $ | 9,122 | 4.5 | % | |||||||
|
2026
|
1 | $ | 1,624 | 0.8 | % | |||||||
|
2027
|
- | $ | - | - | ||||||||
|
2028
|
3 | $ | 3,478 | 1.7 | % | |||||||
|
2029
|
2 | $ | 3,169 | 1.6 | % | |||||||
|
Total (1)
|
183 | $ | 204,147 | 100.0 | % | |||||||
Footnotes
|
(1)
|
Total shown may differ from detailed amounts due to rounding and does not include multi-tenant properties and parking operations.
|
Page 24 of 44
|
LEXINGTON REALTY TRUST
|
|||||||||||||||||||||||||||||
|
Mortgage Loans Receivable
|
|||||||||||||||||||||||||||||
|
9/30/2010
|
|||||||||||||||||||||||||||||
|
Collateral
|
|||||||||||||||||||||||||||||
|
City
|
State
|
Note Balance ($000)(1)
|
Interest Rate
|
Maturity Date
|
Current
Estimated Annual
Debt Service
($000)
|
Balloon Payment ($000)
|
Escrow Balance ($000)
|
||||||||||||||||||||||
|
Medical Facilities
|
Various (2)
|
MO/TX
|
|||||||||||||||||||||||||||
|
Office
|
Tampa (3)
|
FL
|
|||||||||||||||||||||||||||
|
Schaumburg (4)
|
IL
|
$ | 14,975 | 15.00 | % | 01/2012 | $ | - | $ | 14,975 | $ | - | |||||||||||||||||
|
Wilsonville (5)
|
OR
|
$ | 6,908 | 5.46 | % | 12/2012 | $ | 580 | $ | 10,451 | $ | 1,896 | |||||||||||||||||
|
Westmont (6)
|
IL
|
$ | 27,609 | 6.45 | % | 10/2015 | $ | 2,090 | $ | 25,731 | $ | 4,598 | |||||||||||||||||
|
Southfield
|
MI
|
$ | 8,870 | 4.55 | % | 02/2015 | $ | 1,282 | $ | 5,810 | $ | - | |||||||||||||||||
|
Retail
|
Various
|
Various
|
$ | 5,952 | 8.00 | % | 07/2012 | $ | 2,268 | $ | - | $ | - | ||||||||||||||||
|
Austin
|
TX
|
$ | 1,424 | 16.00 | % | 10/2018 | $ | - | $ | 5,104 | $ | - | |||||||||||||||||
|
Tampa
|
FL
|
$ | 195 | 8.00 | % | 12/2020 | $ | 29 | $ | - | $ | - | |||||||||||||||||
|
Various
|
Various
|
$ | 1,470 | 8.00 | % | 02/2021 | $ | 157 | $ | - | $ | - | |||||||||||||||||
|
Various
|
Various
|
$ | 806 | 8.00 | % | 12/2021 | $ | 96 | $ | - | $ | - | |||||||||||||||||
|
Various
|
Various
|
$ | 876 | 8.00 | % | 03/2022 | $ | 74 | $ | - | $ | - | |||||||||||||||||
|
Total Mortgage Notes Receivables
|
$ | 93,835 | $ | 9,345 | $ | 86,648 | $ | 6,494 | |||||||||||||||||||||
Footnotes
|
(1)
|
Excludes net origination fees of $426.
|
|
(2)
|
Loan is interest only at a rate of 14.0% through February 2011, and 16.0% thereafter.
|
|
(3)
|
Borrower is Net Lease Strategic Assets Fund L.P.
|
|
(4)
|
Interest only payments to the extent of operating cash flow of underlying assets.
|
|
(5)
|
Loan modified subsequent to quarter end, maturity now December 31, 2012.
|
|
(6)
|
Escrow balance includes $4,407 in a collateral escrow account maintained by the borrower.
|
Page 25 of 44
LEXINGTON REALTY TRUST
2010 Third Quarter Financing Summary
|
DEBT RETIRED
|
|||||||||||||||||
|
Face
($000)
|
Satisfaction
($000)
|
Rate
|
Due Date
|
||||||||||||||
|
1
|
Term Loan
|
$ | 80,000 | $ | 80,000 | 3.11 | % | 02/2011 | |||||||||
|
2
|
Herndon, VA
|
$ | 17,369 | $ | 17,369 | 8.18 | % | 12/2010 | |||||||||
|
3
|
Lake Mary, FL (1)
|
$ | 12,132 | $ | 12,132 | 6.50 | % | 10/2010 | |||||||||
|
4
|
Lake Mary, FL (1)
|
$ | 12,168 | $ | 12,168 | 6.50 | % | 10/2010 | |||||||||
|
5
|
Tampa, FL
|
$ | 5,512 | $ | 5,512 | 6.88 | % | 08/2010 | |||||||||
|
TOTAL
|
$ | 127,181 | $ | 127,181 | |||||||||||||
|
NEW PROPERY LEVEL FINANCING
|
|||||||||||||||||
|
Face
($000)
|
Rate
|
Maturity
|
|||||||||||||||
|
1
|
North Berwick, ME (2)
|
$ | 11,319 | 3.56 | % | 04/2019 | |||||||||||
Footnotes
|
(1)
|
Imputed interest rate.
|
|
(2)
|
Loan is full amortizing through maturity.
|
Page 26 of 44
LEXINGTON REALTY TRUST
Debt Maturity Schedule
9/30/2010
($000)
|
Consolidated Properties
|
||||||||||||
|
Year
|
Real Estate
Scheduled
Amortization
|
Real Estate
Balloon Payments
|
Corporate Debt
|
|||||||||
|
2010 - remainder
|
$ | 4,881 | $ | 24,454 | (1) | $ | - | |||||
|
2011
|
33,077 | 49,924 | 18,772 | |||||||||
|
2012
|
33,432 | 191,034 | 62,150 | (2) | ||||||||
|
2013
|
29,701 | 234,937 | 60,551 | |||||||||
|
2014
|
29,549 | 235,852 | - | |||||||||
| $ | 130,640 | $ | 736,201 | $ | 141,473 | |||||||
|
Non-Consolidated Investments - LXP Proportionate Share
|
||||||||
|
Year
|
Real Estate
Scheduled
Amortization
|
Real Estate
Balloon Payments
|
||||||
|
2010 - remainder
|
$ | 485 | $ | 1,137 | ||||
|
2011
|
2,686 | 6,903 | ||||||
|
2012
|
2,756 | 3,323 | ||||||
|
2013
|
2,895 | 2,496 | ||||||
|
2014
|
2,514 | 4,061 | ||||||
| $ | 11,336 | $ | 17,920 | |||||
Footnotes
|
(1)
|
Loan satisfied in October 2010.
|
|
(2)
|
Assumes debt is put to Lexington in 2012, stated maturity date is January, 2027.
|
Page 27 of 44
|
2010 Mortgage Maturities by Property Type
|
|||||||||||||||||||||||||||||||||||||
|
09/30/2010
|
|||||||||||||||||||||||||||||||||||||
|
Property Location
|
City
|
State
|
Net Rentable Area
|
Mortgage Balance
at Maturity ($000)
|
Maturity Date
|
Tenant Lease Expires
|
Gross
Book
Value
($000) (1)
|
Cash Rent
as of
9/30/2010
($000)
|
GAAP
Base Rent
as of
9/30/2010
($000)
|
||||||||||||||||||||||||||||
|
Office
|
655 Sierra Dr. (2)
|
Irving
|
TX
|
247,254 | $ | 24,454 | 10/2010 | 03/2023 | $ | 41,899 | $ | 2,064 | $ | 2,214 | |||||||||||||||||||||||
|
Total 2010 Mortgage Maturities
|
247,254 | $ | 24,454 | $ | 41,899 | $ | 2,064 | $ | 2,214 | ||||||||||||||||||||||||||||
Footnotes
|
(1)
|
Represents GAAP capitalized costs.
|
|
(2)
|
Loan satisfied October 2010.
|
Page 28 of 44
|
LEXINGTON REALTY TRUST
|
|||||||||||||||||||||||||||||||||||||
|
2011 Mortgage Maturities by Property Type
|
|||||||||||||||||||||||||||||||||||||
|
9/30/2010
|
|||||||||||||||||||||||||||||||||||||
|
Property Location
|
City
|
State
|
Net Rentable Area
|
Mortgage Balance
at Maturity ($000)
|
Maturity Date
|
Tenant Lease Expires
|
Gross
Book
Value
($000) (1)
|
Cash Rent
as of
9/30/2010
($000)
|
GAAP
Base Rent
as of
9/30/2010
($000)
|
||||||||||||||||||||||||||||
|
Office
|
389-399 Interpace Hwy.
|
Parsippany
|
NJ
|
340,240 | $ | 37,047 | 03/2011 | 2015/2021 | $ | 108,104 | $ | 6,911 | $ | 7,192 | |||||||||||||||||||||||
|
100 Barnes Rd.
|
Wallingford
|
CT
|
44,400 | $ | 3,187 | 05/2011 | 06/2018 | $ | 5,675 | $ | 510 | $ | 380 | ||||||||||||||||||||||||
|
Industrial
|
291 Park Center Dr. (2)
|
Winchester
|
VA
|
344,700 | $ | 9,690 | 08/2011 | 05/2011 | $ | 18,865 | $ | 1,206 | $ | 1,183 | |||||||||||||||||||||||
|
Total 2011 Mortgage Maturities
|
729,340 | $ | 49,924 | $ | 132,644 | $ | 8,627 | $ | 8,755 | ||||||||||||||||||||||||||||
Footnotes
|
(1)
|
Represents GAAP capitalized costs.
|
|
(2)
|
Subsequent to quarter end, lease term was extended to May 31, 2016.
|
Page 29 of 44
|
LEXINGTON REALTY TRUST
|
|||||||||||||||||||||||||||||||||||||
|
2012 Mortgage Maturities by Property Type
|
|||||||||||||||||||||||||||||||||||||
|
9/30/2010
|
|||||||||||||||||||||||||||||||||||||
|
Property Location
|
City
|
State
|
Net
Rentable
Area
|
Mortgage Balance
at Maturity ($000)
|
Maturity Date
|
Tenant Lease Expires
|
Gross
Book
Value
($000) (1)
|
Cash Rent
as of
9/30/2010
($000)
|
GAAP
Base Rent
as of
9/30/2010
($000)
|
||||||||||||||||||||||||||||
|
Office
|
1315 West Century Dr.
|
Louisville
|
CO
|
106,877 | $ | 7,195 | 01/2012 | 04/2017 | $ | 16,933 | $ | 1,093 | $ | 1,200 | |||||||||||||||||||||||
|
2000 Eastman Dr.
|
Milford
|
OH
|
221,215 | $ | 12,686 | 02/2012 | 04/2016 | $ | 26,627 | $ | 1,865 | $ | 1,367 | ||||||||||||||||||||||||
|
26210 and 26220 Enterprise Court
|
Lake Forest
|
CA
|
100,012 | $ | 9,708 | 02/2012 | 01/2012 | $ | 17,211 | $ | 1,477 | $ | 1,344 | ||||||||||||||||||||||||
|
200 Lucent Ln.
|
Cary
|
NC
|
124,944 | $ | 12,543 | 05/2012 | 09/2011 | $ | 23,881 | $ | 1,710 | $ | 1,544 | ||||||||||||||||||||||||
|
2050 Roanoke Rd.
|
Westlake
|
TX
|
130,290 | $ | 17,829 | 05/2012 | 12/2011 | $ | 32,697 | $ | 2,745 | $ | 2,591 | ||||||||||||||||||||||||
|
3940 South Teller St.
|
Lakewood
|
CO
|
68,165 | $ | 7,890 | 05/2012 | 03/2012 | $ | 12,155 | $ | 912 | $ | 650 | ||||||||||||||||||||||||
|
37101 Corporate Dr.
|
Farmington Hills
|
MI
|
119,829 | $ | 17,724 | 09/2012 | 12/2011 | $ | 32,876 | $ | 3,143 | $ | 2,293 | ||||||||||||||||||||||||
|
4455 American Way
|
Baton Rouge
|
LA
|
70,100 | $ | 5,948 | 10/2012 | 10/2012 | $ | 13,868 | $ | 847 | $ | 835 | ||||||||||||||||||||||||
|
1110 Bayfield Dr.
|
Colorado Springs
|
CO
|
166,575 | $ | 10,272 | 12/2012 | 11/2013 | $ | 19,579 | $ | 1,307 | $ | 1,200 | ||||||||||||||||||||||||
|
Industrial
|
245 Salem Church Rd.
|
Mechanicsburg
|
PA
|
252,000 | $ | 4,514 | 01/2012 | 12/2012 | $ | 9,051 | $ | 652 | $ | 649 | |||||||||||||||||||||||
|
34 East Main St. (2)
|
New Kingstown
|
PA
|
179,200 | $ | 2,914 | 01/2012 |
NA
|
$ | 6,034 | $ | - | $ | - | ||||||||||||||||||||||||
|
6 Doughten Rd. (2)
|
New Kingstown
|
PA
|
330,000 | $ | 6,116 | 01/2012 |
NA
|
$ | 12,342 | $ | - | $ | - | ||||||||||||||||||||||||
|
3820 Micro Dr.
|
Millington
|
TN
|
701,819 | $ | 16,222 | 05/2012 | 09/2011 | $ | 24,870 | $ | 1,830 | $ | 1,778 | ||||||||||||||||||||||||
|
101 Michelin Dr.
|
Laurens
|
SC
|
1,164,000 | $ | 14,022 | 09/2012 | 08/2012 | $ | 34,370 | $ | 2,560 | $ | 2,478 | ||||||||||||||||||||||||
|
7111 Crabb Rd.
|
Temperance
|
MI
|
744,570 | $ | 9,400 | 09/2012 | 08/2012 | $ | 21,188 | $ | 1,716 | $ | 1,660 | ||||||||||||||||||||||||
|
19500 Bulverde Rd.
|
San Antonio
|
TX
|
559,258 | $ | 26,025 | 10/2012 | 03/2016 | $ | 41,882 | $ | 2,498 | $ | 2,572 | ||||||||||||||||||||||||
|
43955 Plymouth Oaks Blvd.
|
Plymouth
|
MI
|
290,133 | $ | 10,026 | 12/2012 | 10/2012 | $ | 19,161 | $ | 1,414 | $ | 1,376 | ||||||||||||||||||||||||
|
Total 2012 Mortgage Maturities
|
5,328,987 | $ | 191,034 | $ | 364,725 | $ | 25,769 | $ | 23,537 | ||||||||||||||||||||||||||||
Footnotes
|
(1)
|
Represents GAAP capitalized costs.
|
|
(2)
|
Lexington has suspended debt service payments.
|
Page 30 of 44
|
LEXINGTON REALTY TRUST
|
|||||||||||||||||||||||||||||||||||||
|
2013 Mortgage Maturities by Property Type
|
|||||||||||||||||||||||||||||||||||||
|
9/30/2010
|
|||||||||||||||||||||||||||||||||||||
|
Property Location
|
City
|
State
|
Net Rentable Area
|
Mortgage Balance
at Maturity ($000)
|
Maturity Date
|
Tenant Lease Expires
|
Gross
Book
Value
($000) (1)
|
Cash Rent
as of
9/30/2010
($000)
|
GAAP
Base Rent
as of
9/30/2010
($000)
|
||||||||||||||||||||||||||||
|
Office
|
3476 Stateview Blvd.
|
Fort Mill
|
SC
|
169,083 | $ | 9,904 | 01/2013 | 05/2014 | $ | 18,079 | $ | 1,917 | $ | 1,901 | |||||||||||||||||||||||
|
9201 East Dry Creek Rd.
|
Centennial
|
CO
|
128,500 | $ | 13,555 | 02/2013 | 09/2017 | $ | 26,922 | $ | 1,679 | $ | 1,779 | ||||||||||||||||||||||||
|
12600 Gateway Blvd.
|
Fort Meyers
|
FL
|
62,400 | $ | 8,550 | 05/2013 | 01/2013 | $ | 13,561 | $ | 839 | $ | 819 | ||||||||||||||||||||||||
|
200 Executive Blvd. South
|
Southington
|
CT
|
153,364 | $ | 12,228 | 05/2013 | 12/2012 | $ | 26,737 | $ | 1,260 | $ | 1,218 | ||||||||||||||||||||||||
|
275 South Valencia Ave.
|
Brea
|
CA
|
637,503 | $ | 73,071 | 05/2013 | 06/2012 | $ | 118,929 | $ | 6,533 | $ | 6,596 | ||||||||||||||||||||||||
|
5757 Decatur Blvd.
|
Indianapolis
|
IN
|
89,956 | $ | 8,580 | 05/2013 | 08/2012 | $ | 15,220 | $ | 1,062 | $ | 1,193 | ||||||||||||||||||||||||
|
810 & 820 Gears Rd.
|
Houston
|
TX
|
157,790 | $ | 15,737 | 05/2013 | 01/2013 | $ | 26,819 | $ | 1,699 | $ | 1,688 | ||||||||||||||||||||||||
|
8900 Freeport Pkwy.
|
Irving
|
TX
|
268,445 | $ | 36,466 | 05/2013 | 03/2013 | $ | 59,730 | $ | 3,700 | $ | 3,667 | ||||||||||||||||||||||||
|
6303 Barfield Rd.
|
Atlanta
|
GA
|
238,600 | $ | 40,356 | 05/2013 | 05/2013 | $ | 62,264 | $ | 3,616 | $ | 3,661 | ||||||||||||||||||||||||
|
2211 South 47th St.
|
Phoenix
|
AZ
|
176,402 | $ | 16,490 | 09/2013 | 11/2012 | $ | 24,631 | $ | 1,806 | $ | 1,694 | ||||||||||||||||||||||||
|
Total 2013 Mortgage Maturities
|
2,082,043 | $ | 234,937 | $ | 392,892 | $ | 24,111 | $ | 24,216 | ||||||||||||||||||||||||||||
Footnotes
|
(1)
|
Represents GAAP capitalized costs.
|
Page 31 of 44
|
LEXINGTON REALTY TRUST
|
|||||||||||||||||||||||||||||||||||||
|
2014 Mortgage Maturities by Property Type
|
|||||||||||||||||||||||||||||||||||||
|
9/30/2010
|
|||||||||||||||||||||||||||||||||||||
|
Property Location
|
City
|
State
|
Net Rentable Area
|
Mortgage Balance
at Maturity ($000)
|
Maturity Date
|
Tenant Lease Expires
|
Gross
Book
Value
($000) (1)
|
Cash Rent
as of
9/30/2010
($000)
|
GAAP
Base Rent
as of
9/30/2010
($000)
|
||||||||||||||||||||||||||||
|
Office
|
33 Commercial St.
|
Foxboro
|
MA
|
164,689 | $ | - | 01/2014 | 07/2015 | $ | 29,238 | $ | 3,505 | $ | 2,628 | |||||||||||||||||||||||
|
1275 Northwest 128th St.
|
Clive
|
IA
|
61,180 | $ | 5,151 | 05/2014 | 01/2012 | $ | 10,599 | $ | 599 | $ | 599 | ||||||||||||||||||||||||
|
3480 Stateview Blvd.
|
Fort Mill
|
SC
|
169,218 | $ | 18,311 | 05/2014 | 05/2014 | $ | 29,174 | $ | 2,630 | $ | 2,595 | ||||||||||||||||||||||||
|
1701 Market St. (2)
|
Philadelphia
|
PA
|
305,170 | $ | 43,520 | 07/2014 |
Various
|
$ | 69,886 | $ | 5,336 | $ | 5,308 | ||||||||||||||||||||||||
|
10300 Kincaid Dr.
|
Fishers
|
IN
|
193,000 | $ | 10,466 | 08/2014 | 01/2020 | $ | 28,227 | $ | 2,187 | $ | 2,568 | ||||||||||||||||||||||||
|
3965 Airways Blvd.
|
Memphis
|
TN
|
521,286 | $ | 47,270 | 09/2014 | 06/2019 | $ | 116,410 | $ | 5,081 | $ | 5,260 | ||||||||||||||||||||||||
|
500 Jackson St.
|
Columbus
|
IN
|
390,100 | $ | 26,399 | 09/2014 | 07/2019 | $ | 53,821 | $ | 3,320 | $ | 3,405 | ||||||||||||||||||||||||
|
6226 West Sahara Ave.
|
Las Vegas
|
NV
|
282,000 | $ | 32,118 | 09/2014 | 01/2029 | $ | 64,735 | $ | 6,025 | $ | 3,169 | ||||||||||||||||||||||||
|
22011 Southeast 51st St./5150 220th Ave.
|
Issaquah
|
WA
|
202,544 | $ | 30,388 | 12/2014 | 12/2014 | $ | 51,195 | $ | 3,109 | $ | 3,029 | ||||||||||||||||||||||||
|
275 Technology Dr.
|
Canonsburg
|
PA
|
107,872 | $ | 9,095 | 12/2014 | 12/2014 | $ | 15,739 | $ | 1,072 | $ | 1,033 | ||||||||||||||||||||||||
|
Industrial
|
2415 US Hwy. 78 East
|
Moody
|
AL
|
595,346 | $ | 6,350 | 01/2014 | 01/2014 | $ | 11,575 | $ | 790 | $ | 790 | |||||||||||||||||||||||
|
1109 Commerce Blvd.
|
Swedesboro
|
NJ
|
262,644 | $ | 6,784 | 04/2014 |
NA
|
$ | 14,695 | $ | - | $ | - | ||||||||||||||||||||||||
|
Total 2014 Mortgage Maturities
|
3,255,049 | $ | 235,852 | $ | 495,294 | $ | 33,654 | $ | 30,384 | ||||||||||||||||||||||||||||
Footnotes
|
(1)
|
Represents GAAP capitalized costs.
|
|
(2)
|
Lexington has an 80.5% interest in the property.
|
Page 32 of 44
|
LEXINGTON REALTY TRUST
|
|||||||||||||||||||||
|
Consolidated Properties: Mortgages and Notes Payable
|
|||||||||||||||||||||
|
9/30/2010
|
|||||||||||||||||||||
|
Property
|
Footnotes
|
Debt
Balance
($000)
|
Interest
Rate
(%)
|
Maturity (a)
|
Current Estimated Annual Debt Service ($000) (d)
|
Balloon Payment ($000)
|
|||||||||||||||
|
Irving, TX
|
(b)
|
$ | 24,454 | 6.587 | % | 10/2010 | $ | 166 | $ | 24,454 | |||||||||||
|
Parsippany, NJ
|
(b)
|
37,487 | 6.349 | % | 03/2011 | 1,659 | 37,047 | ||||||||||||||
|
Wallingford, CT
|
3,217 | 4.926 | % | 05/2011 | 123 | 3,187 | |||||||||||||||
|
Winchester, VA
|
(b)
|
9,930 | 6.346 | % | 08/2011 | 818 | 9,690 | ||||||||||||||
|
Louisville, CO
|
7,338 | 5.830 | % | 01/2012 | 544 | 7,195 | |||||||||||||||
|
New Kingston, PA
|
(s)
|
6,490 | 7.790 | % | 01/2012 | - | 6,116 | ||||||||||||||
|
Mechanicsburg, PA
|
4,685 | 7.780 | % | 01/2012 | 500 | 4,514 | |||||||||||||||
|
New Kingston, PA
|
(s)
|
3,092 | 7.780 | % | 01/2012 | - | 2,914 | ||||||||||||||
|
Milford, OH
|
(b)
|
13,879 | 6.612 | % | 02/2012 | 1,822 | 12,686 | ||||||||||||||
|
Lake Forest, CA
|
9,929 | 7.260 | % | 02/2012 | 901 | 9,708 | |||||||||||||||
|
Westlake, TX
|
(b)
|
18,290 | 5.392 | % | 05/2012 | 1,280 | 17,829 | ||||||||||||||
|
Millington, TN
|
16,678 | 5.247 | % | 05/2012 | 1,181 | 16,222 | |||||||||||||||
|
Cary, NC
|
(b)
|
12,709 | 5.584 | % | 05/2012 | 826 | 12,543 | ||||||||||||||
|
Lakewood, CO
|
8,131 | 5.097 | % | 05/2012 | 566 | 7,890 | |||||||||||||||
|
Farmington Hills, MI
|
(b)
|
18,540 | 5.723 | % | 09/2012 | 1,500 | 17,724 | ||||||||||||||
|
Laurens, SC
|
(b)
|
15,024 | 5.911 | % | 09/2012 | 1,396 | 14,022 | ||||||||||||||
|
Temperance, MI
|
(b)
|
10,071 | 5.912 | % | 09/2012 | 936 | 9,400 | ||||||||||||||
|
Baton Rouge, LA
|
(b)
|
6,186 | 5.333 | % | 10/2012 | 443 | 5,948 | ||||||||||||||
|
San Antonio, TX
|
27,252 | 6.080 | % | 10/2012 | 2,260 | 26,025 | |||||||||||||||
|
Plymouth, MI
|
(b)
|
10,895 | 5.964 | % | 12/2012 | 1,026 | 10,026 | ||||||||||||||
|
Colorado Springs, CO
|
(b)
|
10,802 | 5.996 | % | 12/2012 | 887 | 10,272 | ||||||||||||||
|
Fort Mill, SC
|
10,381 | 6.000 | % | 01/2013 | 839 | 9,904 | |||||||||||||||
|
Centennial, CO
|
(b)(r)
|
14,429 | 5.724 | % | 02/2013 | 1,177 | 13,555 | ||||||||||||||
|
Brea, CA
|
(b)
|
75,736 | 5.734 | % | 05/2013 | 5,361 | 73,071 | ||||||||||||||
|
Atlanta, GA
|
42,334 | 5.268 | % | 05/2013 | 3,004 | 40,356 | |||||||||||||||
|
Irving, TX
|
(b)
|
38,058 | 5.452 | % | 05/2013 | 2,702 | 36,466 | ||||||||||||||
|
Houston, TX
|
16,540 | 5.218 | % | 05/2013 | 1,166 | 15,737 | |||||||||||||||
|
Southington, CT
|
12,853 | 5.018 | % | 05/2013 | 890 | 12,228 | |||||||||||||||
|
Indianapolis, IN
|
9,022 | 5.168 | % | 05/2013 | 633 | 8,580 | |||||||||||||||
|
Fort Meyers, FL
|
8,865 | 5.268 | % | 05/2013 | 592 | 8,550 | |||||||||||||||
|
Phoenix, AZ
|
17,767 | 6.270 | % | 09/2013 | 1,527 | 16,490 | |||||||||||||||
|
Foxboro, MA
|
(b)
|
11,233 | 6.000 | % | 01/2014 | 3,270 | - | ||||||||||||||
|
Moody, AL
|
6,866 | 4.978 | % | 01/2014 | 493 | 6,350 | |||||||||||||||
|
Swedesboro, NJ
|
(b)
|
7,108 | 5.545 | % | 04/2014 | 482 | 6,784 | ||||||||||||||
|
Clive, IA
|
5,539 | 5.139 | % | 05/2014 | 387 | 5,151 | |||||||||||||||
|
Fort Mill, SC
|
19,465 | 5.373 | % | 05/2014 | 1,364 | 18,311 | |||||||||||||||
|
Philadelphia, PA
|
(p)
|
46,738 | 5.060 | % | 07/2014 | 3,178 | 43,520 | ||||||||||||||
|
Fishers, IN
|
11,348 | 6.375 | % | 08/2014 | 932 | 10,466 | |||||||||||||||
|
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 | ||||||||||||||
|
Columbus, IN
|
(i)
|
607 | 7.500 | % | 09/2014 | 54 | 568 | ||||||||||||||
|
Las Vegas, NV
|
(i)
|
739 | 7.500 | % | 09/2014 | 66 | 691 | ||||||||||||||
|
Memphis, TN
|
(i)
|
1,087 | 7.500 | % | 09/2014 | 97 | 1,017 | ||||||||||||||
|
Issaquah, WA
|
(b)
|
31,747 | 5.665 | % | 12/2014 | 2,113 | 30,388 | ||||||||||||||
|
Canonsburg, PA
|
(b)
|
9,079 | 5.426 | % | 12/2014 | 489 | 9,095 | ||||||||||||||
|
Chicago, IL
|
(b)
|
29,283 | 5.639 | % | 01/2015 | 1,548 | 29,900 | ||||||||||||||
|
Greenville, SC
|
9,000 | 5.500 | % | 01/2015 | 495 | 9,000 | |||||||||||||||
Page 33 of 44
|
LEXINGTON REALTY TRUST
|
|||||||||||||||||||||
|
Consolidated Properties: Mortgages and Notes Payable
|
|||||||||||||||||||||
|
9/30/2010
|
|||||||||||||||||||||
|
Property
|
Footnotes
|
Debt
Balance
($000)
|
Interest
Rate
(%)
|
Maturity (a)
|
Current Estimated Annual Debt Service ($000) (d)
|
Balloon Payment ($000)
|
|||||||||||||||
|
Carrollton, TX
|
13,261 | 5.530 | % | 01/2015 | 993 | 12,022 | |||||||||||||||
|
Herndon, VA
|
(b)
|
11,405 | 5.885 | % | 04/2015 | 888 | 10,359 | ||||||||||||||
|
Glen Allen, VA
|
(b)
|
19,483 | 5.377 | % | 05/2015 | 1,292 | 18,321 | ||||||||||||||
|
Houston, TX
|
15,889 | 5.160 | % | 05/2015 | 1,114 | 14,431 | |||||||||||||||
|
Rockaway, NJ
|
14,900 | 5.292 | % | 05/2015 | 799 | 14,900 | |||||||||||||||
|
Houston, TX
|
12,413 | 5.210 | % | 05/2015 | 874 | 11,282 | |||||||||||||||
|
Fishers, IN
|
12,338 | 5.160 | % | 05/2015 | 865 | 11,205 | |||||||||||||||
|
San Antonio, TX
|
12,243 | 5.340 | % | 05/2015 | 875 | 11,167 | |||||||||||||||
|
Atlanta, GA
|
11,278 | 5.260 | % | 05/2015 | 751 | 10,502 | |||||||||||||||
|
Los Angeles, CA
|
10,740 | 5.110 | % | 05/2015 | 750 | 9,760 | |||||||||||||||
|
Richmond, VA
|
9,947 | 5.310 | % | 05/2015 | 708 | 9,055 | |||||||||||||||
|
Harrisburg, PA
|
8,586 | 5.110 | % | 05/2015 | 599 | 7,792 | |||||||||||||||
|
Knoxville, TN
|
7,314 | 5.310 | % | 05/2015 | 520 | 6,658 | |||||||||||||||
|
Tulsa, OK
|
7,186 | 5.060 | % | 05/2015 | 499 | 6,517 | |||||||||||||||
|
Carrollton, TX
|
(b)
|
19,931 | 5.725 | % | 07/2015 | 1,382 | 18,710 | ||||||||||||||
|
Elizabethtown, KY
|
(j)
|
14,828 | 4.990 | % | 07/2015 | 1,041 | 13,332 | ||||||||||||||
|
Hopkinsville, KY
|
8,693 | 4.990 | % | 07/2015 | 610 | 7,816 | |||||||||||||||
|
Dry Ridge, KY
|
(n)
|
6,229 | 4.990 | % | 07/2015 | 437 | 5,601 | ||||||||||||||
|
Owensboro, KY
|
(n)
|
5,525 | 4.990 | % | 07/2015 | 388 | 4,967 | ||||||||||||||
|
Elizabethtown, KY
|
(j)
|
2,798 | 4.990 | % | 07/2015 | 196 | 2,516 | ||||||||||||||
|
Houston, TX
|
(b)
|
46,930 | 6.250 | % | 09/2015 | 8,159 | 18,161 | ||||||||||||||
|
Sugar Land, TX
|
(b)
|
12,199 | 6.250 | % | 09/2015 | 2,083 | 6,286 | ||||||||||||||
|
Bridgewater, NJ
|
14,805 | 5.732 | % | 03/2016 | 860 | 13,825 | |||||||||||||||
|
Omaha, NE
|
8,446 | 5.610 | % | 04/2016 | 621 | 7,560 | |||||||||||||||
|
Tempe, AZ
|
7,977 | 5.610 | % | 04/2016 | 586 | 7,140 | |||||||||||||||
|
Lisle, IL
|
10,200 | 6.500 | % | 06/2016 | 793 | 9,377 | |||||||||||||||
|
Dallas, TX
|
(b)
|
18,510 | 5.939 | % | 07/2016 | 1,136 | 18,365 | ||||||||||||||
|
Rochester, NY
|
(f)
|
18,359 | 6.210 | % | 08/2016 | 1,383 | 16,765 | ||||||||||||||
|
Statesville, NC
|
(f)
|
13,769 | 6.210 | % | 08/2016 | 1,037 | 12,574 | ||||||||||||||
|
Rockford, IL
|
(f)
|
6,738 | 6.210 | % | 08/2016 | 508 | 6,153 | ||||||||||||||
|
Glenwillow, OH
|
16,591 | 6.130 | % | 09/2016 | 1,240 | 15,132 | |||||||||||||||
|
Memphis, TN
|
3,865 | 5.710 | % | 01/2017 | 275 | 3,484 | |||||||||||||||
|
Orlando, FL
|
9,975 | 5.722 | % | 02/2017 | 579 | 9,309 | |||||||||||||||
|
Dubuque, IA
|
10,147 | 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)
|
1,250 | 7.750 | % | 07/2018 | 108 | - | ||||||||||||||
|
Manteca, CA
|
(b)
|
883 | 7.750 | % | 07/2018 | 77 | - | ||||||||||||||
|
Watertown, NY
|
(b)
|
830 | 7.750 | % | 07/2018 | 72 | - | ||||||||||||||
|
Lewisburg, WV
|
(b)
|
583 | 7.750 | % | 07/2018 | 51 | - | ||||||||||||||
|
San Diego, CA
|
(b)
|
563 | 7.750 | % | 07/2018 | 49 | - | ||||||||||||||
|
Galesburg, IL
|
(b)
|
495 | 7.750 | % | 07/2018 | 43 | - | ||||||||||||||
|
Boston, MA
|
13,404 | 6.100 | % | 12/2018 | 996 | 11,520 | |||||||||||||||
|
North Berwick, ME
|
11,225 | 3.560 | % | 04/2019 | 1,532 | - | |||||||||||||||
|
Overland Park, KS
|
(b)
|
36,872 | 5.891 | % | 05/2019 | 2,657 | 31,819 | ||||||||||||||
|
Kansas City, MO
|
(b)
|
17,588 | 5.883 | % | 05/2019 | 1,268 | 15,182 | ||||||||||||||
|
Streetsboro, OH
|
(b)
|
19,035 | 5.749 | % | 09/2019 | 1,344 | 16,338 | ||||||||||||||
|
Boca Raton, FL
|
20,400 | 6.470 | % | 02/2020 | 1,338 | 18,383 | |||||||||||||||
|
Wall, NJ
|
(b)
|
26,797 | 6.250 | % | 01/2021 | 3,106 | - | ||||||||||||||
Page 34 of 44
|
LEXINGTON REALTY TRUST
|
|||||||||||||||||||||
|
Consolidated Properties: Mortgages and Notes Payable
|
|||||||||||||||||||||
|
9/30/2010
|
|||||||||||||||||||||
|
Property
|
Footnotes
|
Debt
Balance
($000)
|
Interest
Rate
(%)
|
Maturity (a)
|
Current Estimated Annual Debt Service ($000) (d)
|
Balloon Payment ($000)
|
|||||||||||||||
|
Charleston, SC
|
7,350 | 5.850 | % | 02/2021 | 436 | 6,632 | |||||||||||||||
|
Durham, NH
|
(b)
|
17,921 | 6.750 | % | 03/2021 | 1,219 | - | ||||||||||||||
|
Antioch, TN
|
(b)
|
12,860 | 6.320 | % | 10/2021 | 1,580 | 774 | ||||||||||||||
|
Whippany, NJ
|
15,787 | 6.298 | % | 11/2021 | 1,344 | 10,400 | |||||||||||||||
|
Dillon, SC
|
21,678 | 5.974 | % | 02/2022 | 1,832 | 13,269 | |||||||||||||||
|
Salt Lake City, UT
|
36,703 | 5.527 | % | 10/2028 | 3,232 | - | |||||||||||||||
|
Subtotal/Wtg. Avg./Years Remaining (l)
|
$ | 1,542,136 | 5.788 | % | 4.8 | $ | 118,527 | $ | 1,299,838 | ||||||||||||
|
Corporate
|
|||||||||||||||||||||
|
Credit Facility
|
(c)
|
$ | 18,772 | 3.107 | % | 02/2011 | $ | 591 | $ | 18,772 | |||||||||||
|
Term Loan
|
(h)(k)
|
35,551 | 5.520 | % | 03/2013 | 1,990 | 35,551 | ||||||||||||||
|
Term Loan
|
(h)(k)
|
25,000 | 5.520 | % | 03/2013 | 1,399 | 25,000 | ||||||||||||||
|
Exchangeable Notes
|
(e)(m)
|
62,150 | 5.450 | % | 01/2027 | 3,387 | 62,150 | ||||||||||||||
|
Convertible Notes
|
(o)(q)
|
115,000 | 6.000 | % | 01/2030 | 6,900 | 115,000 | ||||||||||||||
|
Trust Preferred Notes
|
(g)
|
129,120 | 6.804 | % | 04/2037 | 8,785 | 129,120 | ||||||||||||||
|
Subtotal/Wtg. Avg./Years Remaining (l)
|
$ | 385,593 | 5.964 | % | 11.3 | $ | 23,052 | $ | 385,593 | ||||||||||||
|
Total/Wtg. Avg./Years Remaining (l)
|
$ | 1,927,729 | 5.823 | % | 6.1 | $ | 141,579 | $ | 1,685,431 | ||||||||||||
Footnotes
|
(a)
|
Subtotal and total based on weighted average term to maturity (or put dates) 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.
|
|
(f)
|
Properties are cross-collateralized properties.
|
|
(g)
|
Rate fixed through 04/2017, 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 $2,432 excluded from balance.
|
|
(l)
|
Total shown may differ from detailed amounts due to rounding.
|
|
(m)
|
Represents full payable of notes, discount of $878 excluded from balance.
|
|
(n)
|
Properties are cross-collateralized properties.
|
|
(o)
|
Holders have the right to redeem the notes on 01/15/17, 01/15/20 and 01/15/25.
|
|
(p)
|
Lexington has an 80.5% interest in this property.
|
|
(q)
|
Represents full payable of notes, discount of $12,274 excluded from balance.
|
|
(r)
|
Maturity date represents lender call date.
|
|
(s)
|
Debt service payments have been suspended by Lexington.
|
Page 35 of 44
|
LEXINGTON REALTY TRUST
|
||||||||||||||||||||||||||||
|
Non- Consolidated Investments: Mortgages & Notes Payable
|
||||||||||||||||||||||||||||
|
09/30/2010
|
||||||||||||||||||||||||||||
|
Joint Venture
|
Debt Balance ($000)
|
LXP
Proportionate
Share
($000) (3)
|
Interest
Rate
(%)
|
Maturity
|
Current Estimated Annual Debt Service ($000) (4)
|
Balloon Payment ($000)
|
Proportionate
Share Balloon
Payment
($000) (3)
|
|||||||||||||||||||||
|
Net Lease Strategic (5)
|
$ | 7,600 | $ | 1,140 | 6.930 | % | 12/2010 | $ | 156 | $ | 7,577 | $ | 1,137 | |||||||||||||||
|
Harpard
|
173 | 47 | 9.875 | % | 01/2011 | 177 | - | - | ||||||||||||||||||||
|
Net Lease Strategic
|
2,087 | 313 | 7.500 | % | 01/2011 | 51 | 2,076 | 311 | ||||||||||||||||||||
|
Net Lease Strategic
|
13,472 | 2,021 | 7.400 | % | 04/2011 | 609 | 13,365 | 2,005 | ||||||||||||||||||||
|
Net Lease Strategic
|
30,582 | 4,587 | 5.126 | % | 05/2011 | 1,054 | 30,582 | 4,587 | ||||||||||||||||||||
|
Taber
|
225 | 61 | 10.125 | % | 06/2011 | 234 | - | - | ||||||||||||||||||||
|
Jayal
|
526 | 156 | 11.500 | % | 03/2012 | 365 | - | - | ||||||||||||||||||||
|
Net Lease Strategic
|
22,637 | 3,396 | 5.147 | % | 05/2012 | 1,491 | 22,153 | 3,323 | ||||||||||||||||||||
|
Net Lease Strategic
|
7,437 | 1,116 | 7.670 | % | 01/2013 | 2,817 | - | - | ||||||||||||||||||||
|
Net Lease Strategic
|
12,752 | 1,913 | 5.148 | % | 05/2013 | 894 | 12,144 | 1,822 | ||||||||||||||||||||
|
Net Lease Strategic
|
4,782 | 717 | 5.950 | % | 09/2013 | 381 | 4,496 | 674 | ||||||||||||||||||||
|
Net Lease Strategic
|
19,961 | 2,994 | 5.810 | % | 02/2014 | 1,551 | 18,588 | 2,788 | ||||||||||||||||||||
|
Net Lease Strategic
|
9,162 | 1,374 | 5.616 | % | 04/2014 | 697 | 8,484 | 1,273 | ||||||||||||||||||||
|
Net Lease Strategic
|
1,009 | 151 | 8.500 | % | 04/2015 | 271 | - | - | ||||||||||||||||||||
|
Net Lease Strategic
|
16,524 | 2,479 | 5.411 | % | 05/2015 | 1,189 | 15,087 | 2,263 | ||||||||||||||||||||
|
Net Lease Strategic - Oklahoma TIC
|
14,687 | 881 | 5.240 | % | 05/2015 | 976 | 13,673 | 820 | ||||||||||||||||||||
|
Net Lease Strategic
|
12,325 | 1,849 | 5.212 | % | 06/2015 | 836 | 11,349 | 1,702 | ||||||||||||||||||||
|
Net Lease Strategic
|
5,969 | 895 | 5.783 | % | 06/2015 | 462 | 5,371 | 806 | ||||||||||||||||||||
|
Net Lease Strategic
|
18,027 | 2,704 | 8.036 | % | 09/2015 | 3,352 | 6,925 | 1,039 | ||||||||||||||||||||
|
Net Lease Strategic
|
5,181 | 777 | 8.036 | % | 09/2015 | 925 | 2,203 | 330 | ||||||||||||||||||||
|
Net Lease Strategic
|
8,379 | 1,257 | 6.090 | % | 01/2016 | 668 | 7,446 | 1,117 | ||||||||||||||||||||
|
Net Lease Strategic
|
6,193 | 929 | 6.090 | % | 04/2016 | 494 | 5,465 | 820 | ||||||||||||||||||||
|
Net Lease Strategic
|
6,354 | 953 | 6.315 | % | 09/2016 | 497 | 5,723 | 858 | ||||||||||||||||||||
|
One Summit
|
15,419 | 4,626 | 9.375 | % | 10/2016 | 3,344 | - | - | ||||||||||||||||||||
|
Net Lease Strategic
|
8,969 | 1,345 | 6.063 | % | 11/2016 | 683 | 8,023 | 1,203 | ||||||||||||||||||||
|
One Summit
|
10,087 | 3,026 | 10.625 | % | 11/2016 | 2,239 | - | - | ||||||||||||||||||||
|
Net Lease Strategic
|
8,749 | 1,312 | 5.910 | % | 10/2018 | 728 | 6,624 | 994 | ||||||||||||||||||||
|
Net Lease Strategic
|
9,611 | 1,442 | 6.010 | % | 08/2019 | 753 | 7,658 | 1,149 | ||||||||||||||||||||
|
Net Lease Strategic
|
7,500 | 1,125 | 6.507 | % | 11/2019 | 506 | 6,692 | 1,004 | ||||||||||||||||||||
Page 36 of 44
LEXINGTON REALTY TRUST
Non- Consolidated Investments: Mortgages & Notes Payable
09/30/2010
|
Joint Venture
|
Debt Balance ($000)
|
LXP
Proportionate
Share
($000) (3)
|
Interest
Rate
(%)
|
Maturity
|
Current Estimated Annual Debt Service ($000) (4)
|
Balloon Payment ($000)
|
Proportionate
Share Balloon
Payment
($000) (3)
|
||||||||||||||||||||||
|
Net Lease Strategic
|
9,704 | 1,456 | 6.270 | % | 12/2019 | 774 | 7,755 | 1,163 | |||||||||||||||||||||
|
Net Lease Strategic
|
8,965 | 1,345 | 9.800 | % | 02/2020 | 1,917 | - | - | |||||||||||||||||||||
|
Net Lease Strategic
|
9,813 | 1,472 | 5.930 | % | 10/2020 | 750 | 7,660 | 1,149 | |||||||||||||||||||||
|
Net Lease Strategic
|
9,114 | 1,367 | 5.460 | % | 12/2020 | 741 | 5,895 | 884 | |||||||||||||||||||||
|
Net Lease Strategic
|
9,319 | 1,398 | 5.640 | % | 01/2021 | 692 | 7,018 | 1,053 | |||||||||||||||||||||
|
Net Lease Strategic
|
11,737 | 1,761 | 5.380 | % | 08/2025 | 1,144 | 362 | 54 | |||||||||||||||||||||
|
Total/Wtg. Avg. (1)/Years Remaining (2)
|
$ | 345,031 | $ | 54,385 | 6.648 | % | 5.2 | $ | 34,418 | $ | 250,394 | $ | 36,328 | ||||||||||||||||
Footnotes
|
(1)
|
Weighted average interest rate based on proportionate share.
|
|
(2)
|
Weighted average years remaining on maturities based on proportionate debt balance.
|
|
(3)
|
Total balance shown may differ from detailed amounts due to rounding.
|
|
(4)
|
Remaining payments for debt with less than 12 months to maturity, all others are debt service for 12 months.
|
|
(5)
|
Lender is Lexington.
|
Page 37 of 44
LEXINGTON REALTY TRUST
Partnership Interests
Nine Months Ended September 30, 2010
($000)
|
Noncontrolling Interest Properties - Partners' Proportionate Share (1)
|
||||
|
EBITDA
|
$ | 2,867 | ||
|
Interest expense
|
$ | 861 | ||
|
Depreciation and amortization
|
$ | 1,486 | ||
|
Impairment loss on real estate
|
$ | 3,134 | ||
|
Non-Consolidated Net Leased Real Estate - Lexington's Share
|
||||
|
EBITDA
|
$ | 23,395 | ||
|
Interest expense
|
$ | 2,781 | ||
Footnotes
|
(1)
|
Excludes discontinued operations and OP unit noncontrolling interests.
|
Page 38 of 44
LEXINGTON REALTY TRUST
Selected Balance Sheet Account Detail
09/30/2010
($000)
|
Other assets
|
$ | 54,024 | ||
|
The components of other assets are:
|
||||
|
Deposits, including forward purchase equity commitment
|
$ | 26,138 | ||
|
Investments
|
10,570 | |||
|
Equipment
|
1,114 | |||
|
Prepaids
|
5,612 | |||
|
Other receivables
|
1,276 | |||
|
Deferred lease incentives
|
9,188 | |||
|
Other
|
126 | |||
|
Accounts payable and other liabilities
|
$ | 44,840 | ||
|
The components of accounts payable and other liabilities are:
|
||||
|
Accounts payable and accrued expenses
|
$ | 12,767 | ||
|
CIP accruals and other
|
9,762 | |||
|
Taxes
|
1,107 | |||
|
Deferred lease costs
|
3,824 | |||
|
Subordinated notes
|
2,101 | |||
|
Deposits
|
1,376 | |||
|
Escrows
|
2,487 | |||
|
Sale/leaseback financing obligation
|
4,750 | |||
|
Transaction costs
|
559 | |||
|
Derivative liability
|
6,107 |
Page 39 of 44
LEXINGTON REALTY TRUST
Revenue Data
9/30/2010
($000)
Base Rent Estimates for Current Assets
|
Year
|
Cash (1)
|
GAAP (1)
|
||||||
|
2010 - remainder
|
$ | 74,502 | $ | 77,001 | ||||
|
2011
|
$ | 302,428 | $ | 303,930 | ||||
|
2012
|
$ | 274,904 | $ | 276,001 | ||||
|
2013
|
$ | 236,408 | $ | 236,137 | ||||
|
2014
|
$ | 197,761 | $ | 201,515 | ||||
Other Revenue Data
|
Asset Class
|
GAAP
Base Rent
as of
9/30/10 (2)
|
Percentage
|
||||||
|
Office
|
$ | 148,804 | 63.9 | % | ||||
|
Industrial
|
$ | 47,033 | 20.2 | % | ||||
|
Retail
|
$ | 10,048 | 4.3 | % | ||||
|
Multi-tenant
|
$ | 27,144 | 11.6 | % | ||||
| $ | 233,029 | 100.0 | % | |||||
|
Credit Ratings (3)
|
||||||||
|
Investment Grade
|
$ | 111,158 | 47.7 | % | ||||
|
Non-Investment Grade
|
$ | 40,760 | 17.5 | % | ||||
|
Unrated
|
$ | 81,111 | 34.8 | % | ||||
| $ | 233,029 | 100.0 | % | |||||
Footnotes
|
(1)
|
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.
|
|
(2)
|
Nine months ended 9/30/2010 GAAP base rent recognized for consolidated properties owned as of 9/30/2010.
|
|
(3)
|
Credit ratings are based upon either tenant, guarantor or parent. All multi-tenant assets are included in unrated.
|
Page 40 of 44
Top 20 Markets
9/30/2010
|
Core Based Statistical Area (2)
|
Percent of
GAAP Base
Rent as of
9/30/10 (1)
|
||||
|
1
|
Dallas-Fort Worth-Arlington, TX
|
8.1 | % | ||
|
2
|
New York-Northern New Jersey-Long Island, NY-NJ-PA
|
6.9 | % | ||
|
3
|
Los Angeles-Long Beach-Santa Ana, CA
|
6.3 | % | ||
|
4
|
Houston-Sugar Land-Baytown, TX
|
5.1 | % | ||
|
5
|
Memphis, TN-MS-AR
|
4.3 | % | ||
|
6
|
Atlanta-Sandy Springs-Marietta, GA
|
4.1 | % | ||
|
7
|
Kansas City, MO-KS
|
3.4 | % | ||
|
8
|
Detroit-Warren-Livonia, MI
|
2.8 | % | ||
|
9
|
Orlando-Kissimmee, FL
|
2.6 | % | ||
|
10
|
Indianapolis-Carmel, IN
|
2.4 | % | ||
|
11
|
Boston-Cambridge-Quincy, MA-NH
|
2.3 | % | ||
|
12
|
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
|
2.3 | % | ||
|
13
|
Chicago-Naperville-Joliet, IL-IN-WI
|
2.2 | % | ||
|
14
|
Charlotte-Gastonia-Concord, NC-SC
|
1.9 | % | ||
|
15
|
Phoenix-Mesa-Scottsdale, AZ
|
1.9 | % | ||
|
16
|
Washington-Arlington-Alexandria, DC-VA-MD-WV
|
1.8 | % | ||
|
17
|
San Antonio, TX
|
1.7 | % | ||
|
18
|
Seattle-Tacoma-Bellevue, WA
|
1.6 | % | ||
|
19
|
Baltimore-Towson, MD
|
1.6 | % | ||
|
20
|
Richmond, VA
|
1.6 | % | ||
|
Total Top 20 Markets (3)
|
64.7 | % | |||
Footnotes
|
(1)
|
Nine months ended 9/30/2010 GAAP base rent recognized for consolidated properties owned as of 9/30/2010.
|
|
(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 41 of 44
LEXINGTON REALTY TRUST
Tenant Industry Diversification
9/30/2010
|
Industry Category
|
Percent of
GAAP Base
Rent as of
9/30/10 (1)
|
|||
|
Finance/Insurance
|
12.6 | % | ||
|
Automotive
|
9.4 | % | ||
|
Energy
|
9.3 | % | ||
|
Consumer Products
|
9.3 | % | ||
|
Technology
|
8.7 | % | ||
|
Food
|
7.3 | % | ||
|
Healthcare
|
6.3 | % | ||
|
Service
|
6.3 | % | ||
|
Transportation/Logistics
|
6.1 | % | ||
|
Construction/Materials
|
3.7 | % | ||
|
Telecommunications
|
3.7 | % | ||
|
Media/Advertising
|
3.5 | % | ||
|
Aerospace/Defense
|
3.0 | % | ||
|
Printing/Production
|
2.6 | % | ||
|
Education
|
2.3 | % | ||
|
Retail Department & Discount
|
2.0 | % | ||
|
Real Estate
|
1.2 | % | ||
|
Apparel
|
1.0 | % | ||
|
Retail - Specialty
|
0.8 | % | ||
|
Security
|
0.6 | % | ||
|
Retail - Electronics
|
0.3 | % | ||
|
Total (2)
|
100.0 | % | ||
Footnotes
|
(1)
|
Nine months ended 9/30/2010 GAAP base rent recognized for consolidated properties owned as of 9/30/2010.
|
|
(2)
|
Total shown may differ from detailed amounts due to rounding.
|
Page 42 of 44
LEXINGTON REALTY TRUST
Top 10 Tenants or Guarantors
9/30/2010
|
Tenants or Guarantors
|
Number of Leases
|
Sq. Ft. Leased
|
Sq. Ft. Leased as a Percent of Consolidated Portfolio (2)
|
GAAP Base Rent as of 9/30/10 ($000) (1)
|
Percent of GAAP Base Rent as of 9/30/10
($000) (1)
|
|||||||||||||||
|
Bank of America, NA
|
8 | 691,893 | 1.9 | % | $ | 7,233 | 3.1 | % | ||||||||||||
|
Baker Hughes, Inc.
|
2 | 720,221 | 1.9 | % | $ | 6,991 | 3.0 | % | ||||||||||||
|
Dana Holding Corporation and Dana Limited
|
6 | 1,902,414 | 5.1 | % | $ | 6,226 | 2.7 | % | ||||||||||||
|
Federal Express Corporation
|
2 | 641,286 | 1.7 | % | $ | 5,563 | 2.4 | % | ||||||||||||
|
Swiss Re America Holding Corporation
|
2 | 476,123 | 1.3 | % | $ | 4,954 | 2.1 | % | ||||||||||||
|
Morgan, Lewis & Bockius, LLC (3)
|
1 | 290,565 | 0.8 | % | $ | 4,935 | 2.1 | % | ||||||||||||
|
CEVA Logistics U.S., Inc. (TNT Logistics Holdings, B.V.)
|
3 | 2,503,916 | 6.7 | % | $ | 4,928 | 2.1 | % | ||||||||||||
|
Wells Fargo Bank, N.A.
|
2 | 338,301 | 0.9 | % | $ | 4,496 | 1.9 | % | ||||||||||||
|
International Business Machines Corporation (Internet Security Systems, Inc.)
|
2 | 289,000 | 0.8 | % | $ | 4,433 | 1.9 | % | ||||||||||||
|
Reckitt Benckiser, Inc.
|
1 | 186,889 | 0.5 | % | $ | 4,169 | 1.8 | % | ||||||||||||
| 29 | 8,040,608 | 21.6 | % | $ | 53,928 | 23.1 | % | |||||||||||||
Footnotes
|
(1)
|
Nine months ended 9/30/2010 GAAP base rent recognized for consolidated properties owned as of 9/30/2010.
|
|
(2)
|
Total shown may differ from detailed amounts due to rounding.
|
|
(3)
|
Includes parking garage operations, Lexington has an 80.5% interest in this property.
|
Page 43 of 44
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
|
|
Barclays Capital
|
Morgan, Keegan & Co., Inc.
|
||
|
Ross L. Smotrich
|
(212) 526-2306
|
Stephen C. Swett
|
(212) 508-7585
|
|
Friedman, Billings, Ramsey
|
Raymond James & Assoc.
|
||
|
Gabe Poggi
|
(703) 469-1141
|
Paul Puryear
|
(727) 567-2253
|
|
J.P. Morgan Chase
|
Stifel Nicolaus
|
||
|
Anthony Paolone
|
(212) 622-6682
|
John W. Guinee
|
(443) 224-1307
|
|
Keefe, Bruyette & Woods
|
Wells Fargo Securities, LLC
|
||
|
Sheila K. McGrath
|
(212) 887-7793
|
Todd J. Stender
|
(212) 214-8067
|
Page 44 of 44