Lexington Realty Trust (NYSE: LXP) is a leading investor in single tenant office, industrial and retail properties with interests in 311 properties, encompassing more than 49.3 million square feet located in 44 states which are generally net-leased to major corporations. Additionally, Lexington provides investment advisory and asset management services to investors in the net lease area.
Lexington has leases with more than 350 tenants, representing the full range of a diverse U.S. economy, including small, medium and large corporations operating in more than 20 industries including energy, finance, insurance, technology, automotive, healthcare, telecommunications, retail, media, consumer products, aerospace, defense and more.
Lexington believes the diversification in the portfolio by geographical location, tenant industry segment, lease term expirations and property type, should help insulate Lexington from regional recession, industry specific downturns, and price fluctuations by property type.
During 2007, Lexington acquired interests in 55 properties for an aggregate value of $483.4 million. Growth in revenue and cash flows is directly correlated to Lexington's ability to acquire income producing properties and to re-lease properties that are vacant or may become vacant, at favorable rental rates. Lexington achieves a high percentage of repeat business and retained tenancy as a result of its customer service platform which builds upon existing tenant relationships.
As a qualified REIT, Lexington will not be subject to federal income tax, provided that distributions to shareholders equal at least the amount of its REIT taxable income as defined under the Internal Revenue Code.
