Lexington Corporate Properties Trust purchased the of twoadjacent office buildings, at 26555 Northwestern Hwy., containing atotal of 187,163 sf. The property is net-leased to Federal-MogulCorp. through January 2015. Lexington assumed non-recourse firstmortgage financing of $11.6 million. The loan bears interest at afixed rate of 4.55% and matures in January 2015.

At the same time it purchased the Federal Mogul building inSouthfield, Lexington also purchased a two-story office buildingcontaining 61,180 sf in Clive, IA. That property is net-leased toPrincipal Life Insurance Co. through January 2012. The purchaseprice was $9.3 million.

"(These) acquisitions bring our total investment volume for thefirst half of 2004 to approximately $412.7 million, approximatelyequal to the volume for all of 2003, which was itself a record,"says Richard J. Rouse, Lexington's chief investment officer. "Ourpipeline is very active and we are well-positioned to meet orexceed our target of $600 million of new investments thisyear."