The acquisition gives Lexington complete ownership of the JV's investment program, which includes 15 single-tenant, net-leased assets. The assets, which are located in 10 states throughout the country, are valued at $277.4 million.
The largest property in the portfolio is the 408,000-sf 736 AddisonRd. in Erwin, NY. The property is leased by Corning Inc through November 2016. The 2,985,145-sf portfolio also includes 8900 Freeport Pkwy. in Irving, TX; 2050 Roanoke Rd. in Westlake, TX; 3600 Army Post Rd. in Des Moines; 9201 East Dry Creek Rd. in Centennial, CO; 275 Technology Dr, in Canonsburg, PA; 4455 American Way in Baton Rouge, LA; 3711 San Gabriel in Mission, TX; 6050 Dana Way in Antioch, TN; 5350 Leavitt Rd. in Lorain, OH; 255 Northgate Dr. in Manteca, CA; 21082 Pioneer Plaza Dr. in Watertown, NY; 97 Seneca Trail in Fairlea, WV; 12080 Carmel Mountain Rd. in San Diego; and 1150 W. Carl Sandburg Dr. in Galesburg, IL.
Prior to this transaction, Lexington, which is headed by CEO T. Will Eglin, owned about 360 properties in 44 states and the Netherlands. The company's holdings increased significantly after it acquired Newkirk Realty Trust in January.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
