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STREETSBORO, OH-A joint venture Lexington Corporate Properties Trust has acquired a new distribution facility here for approximately $28.9 million. The 649,250-sf distribution building sits on 58 acres and is net-leased to L’Oreal USA S/D Inc. for slightly more than 15 years. New York-based Lexington financed most of the purchase price, obtaining a $20.2 million loan that bears interest at 5.29%. The non-recourse first mortgage financing matures at lease expiration. Lexington says the obligations of the lessee under the lease are unconditionally guaranteed by L’Oreal USA Inc., a subsidiary of L’Oreal SA. Also this week, Lexington acquired a new 169,218-sf, three-story office building in Fort Mill, SC, for approximately $29 million. The 16.1 acre property is net leased to Wells Fargo Bank N.A. through May 2014. Lexington financed the acquisition with a $20.3-million, 5.17% loan that matures at lease expiration.Lexington Corporate Properties Trust owns and manages office, industrial and retail properties net leased to major corporations throughout the United States. Lexington common shares closed Tuesday, Sept. 7, at $21.92 per share. In noontime trading Thursday, shares were trading at $21.82.

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