The REIT, headquartered at One Penn Plaza in New York City, isdivesting itself of non-core assets from retail, multi-tenant andvacant properties in an effort to improve operating efficienciesand "use the proceeds primarily to reduce [Lexington's] unsecuredindebtedness," explains T. Wilson Eglin, CEO of Lexington RealtyTrust, in a statement. Lexington held a 40% interest of I-20 AlpineRd.

"We believe this disposition successfully mitigated our exposureto a potential vacancy in 2010 while providing us and our partnerwith a solid return on our investment over the holding period,"says Eglin. Blue Cross/Blue Shield of South Carolina, Inc. leasesspace at the 456,304-square-foot buliding. Its lease is up inSeptember of 2010.

Lexington currently operates about 260 mostly single-tenantassets across property types, totaling nearly 46 million squarefeet.

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