NEW YORK, April 1, 2013 (GLOBE NEWSWIRE) -- Lexington Realty Trust ("Lexington") (NYSE:LXP), a real estate investment trust (REIT) focused on single-tenant real estate investments, today announced that one of its wholly-owned subsidiaries closed on the acquisition of an industrial facility in Houston, Texas for a capitalized cost of approximately $81.4 million. The facility consists of a deepwater intermodal industrial terminal with 2,055 feet of deep water berths and existing structures encompassing 132,000 square feet on over 90 acres on the Houston Ship Channel. Upon acquisition, the facility was net-leased to Industrial Terminals Management L.L.C. for a 25-year term. The obligations of the tenant are guaranteed by Maritime Holdings (Delaware) LLC. The average rent during the lease term is approximately 8.3% of the purchase price.
CONTACT: Investor or Media Inquiries for Lexington Realty Trust: Patrick Carroll, CFO Lexington Realty Trust Phone: (212) 692-7200 E-mail: firstname.lastname@example.org