Common Share/Unit Dividend/Distribution

Lexington declared a regular quarterly dividend/distribution for the quarter ended December 31, 2012 of $0.15 per common share/unit, which was paid on January 15, 2013 to common shareholders/unitholders of record as of December 31, 2012.

OPERATING ACTIVITIES

Leasing

During the fourth quarter of 2012, Lexington executed 17 new and extended leases for 2.4 million square feet. Overall in 2012, Lexington executed new and extended leases totaling approximately 7.4 million square feet and increased overall portfolio occupancy by 140 basis points to 97.3%.

Subsequent to quarter end, Lexington executed 325,000 square feet of new and extended leases.

Capital Recycling

Dispositions

During the fourth quarter of 2012, Lexington disposed of its interests in four properties to unrelated parties for an aggregate gross sales price of $24.7 million and conveyed one vacant property in foreclosure in satisfaction of the $5.3 million outstanding non-recourse mortgage.

Investment Activity

Property Acquisitions and Completed Build-to-Suit Transactions

A joint venture, in which Lexington has a minority position, acquired a120,000 square foot retail property in Palm Beach Gardens, Florida for $29.8 million (9.8% initial cap rate), which is net-leased for a 15-year term. Lexington provided a $12.0 million non-recourse mortgage loan at closing. In February 2013, this property was refinanced with a $15.3 million first mortgage and Lexington's loan was repaid.

Lexington acquired a 252,400 square foot office property in Phoenix, Arizona for $53.2 million (7.1% initial cap rate). The property is net-leased for a 17-year term.

Lexington acquired 6.2 acres of land in Palm Beach Gardens, Florida for approximately $6.0 million. Lexington previously had been leasing the land and owns the multi-tenant improvements on the property.

In the build-to-suit area, Lexington completed the 52,000 square foot build-to-suit retail property in Opelika, Alabama for approximately $8.3 million (9.4% initial cap rate). The property is net-leased for a 15-year term.

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