LEWISBURG, TN—An affiliate of New York City-based Lexington Realty Trust reports it has closed on the acquisition of a newly constructed warehouse and light manufacturing building here that is leased to Calsonic Kansei North America, Inc.
Although the company did not release the address of the 310,000-square-foot building, the company’s portfolio listing on its corporate website states the property is located at 633 Garrett Parkway. The tenant, a Japanese-based auto parts manufacturer, plans to utilize the property as a distribution center with some potential light manufacturing space, according to Lexington’s website.
The property was purchased from Frontier Development II and constructed by T.W. Frierson Contractors, Inc.
Lexington Realty reported earlier this month gross revenues for the first quarter ended March 31, 2014 were $112.2 million, up from $92.7 million posted during the same period a year earlier. The REIT owns a diversified portfolio of debt and equity interests in single-tenant commercial properties and land.