An unknown buyer acquired Office Building in Philadelphia, PA from LXP Industrial Trust for $26.3 million.
October 30, 2023
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An unknown buyer acquired Office Building in Philadelphia, PA from LXP Industrial Trust (NYSE:LXP) for $26.3 million in September, 2023. As of October 31, 2023, office building generated the net income of approximately $5.4 million and EBIT of approximately $5.3 million for the period ended June 30, 2021.
An unknown buyer completed the acquisition of Office Building in Philadelphia, PA from LXP Industrial Trust (NYSE:LXP) in September, 2023.
LXP Industrial Trust is a real estate investment trust focused on single-tenant industrial real estate investments across the United States. The Company invests in single-tenant warehouse/distribution real estate. The Company conducts its operations indirectly through property owner subsidiaries, which are single purpose entities; a wholly owned taxable REIT subsidiaries (TRS), Lexington Realty Advisors, Inc., and joint ventures. It has investments in the Lower Midwest and Sunbelt. The Company's warehouse/distribution portfolio includes various industries, such as electronic commerce, automotive, construction/materials, food, apparel, specialty, technology, retail department, aerospace/defense, healthcare, consumer products, transportation/logistics and others. It has ownership interests in approximately 115 consolidated real estate properties, located in 18 states and containing an aggregate of approximately 54.6 million square feet of space, approximately 99.8% of which is leased.
LXP INDUSTRIAL TRUST 
