Lexington Realty Trust Sells Multi-Tenant Property in Long Beach, California
NEW YORK, June 5, 2012 (GLOBE NEWSWIRE) -- Lexington Realty Trust (LXP) ("Lexington") (NYSE:LXP), a real estate investment trust (REIT), announced today that one of its joint venture subsidiaries closed on the disposition of an unleveraged multi-tenant property located at 1500 Hughes Way, Long Beach, California for gross proceeds of $69.0 million. The property was 74% leased and the capitalization rate on the disposition was approximately 6.8%. Lexington held a 55% interest in the property.
ABOUT LEXINGTON REALTY TRUST
Lexington Realty Trust is a real estate investment trust that owns, invests in and manages single-tenant office, industrial and retail properties leased to major corporations throughout the United States. Lexington also provides investment advisory and asset management services to investors in the single-tenant area. Lexington's common shares are traded on the New York Stock Exchange under the symbol "LXP". Additional information about Lexington is available on-line at www.lxp.com or by contacting Lexington Realty Trust, Investor Relations, One Penn Plaza, Suite 4015, New York, New York 10119-4015.
CONTACT: Investor or Media Inquiries for Lexington Realty Trust: Patrick Carroll, CFO Lexington Realty Trust Phone: (212) 692-7200 E-mail: email@example.comSource: Lexington Realty Trust 2012 GlobeNewswire, Inc.