Lexington grows office portfolio

Expands in South, Northeast
Published on Jul 29, 2004

Lexington Corporate Properties Trust acquired three properties totaling 659,258 square feet in Massachusetts and Texas. The total value of the transactions was $53.9 million. The Chelmsford, Mass., property is a 100,000-square-foot, two-story office property constructed in 1985 on a 7-acre site. The property is net leased to Cadence Design Systems Inc. through Sept. 30, 2013. The purchase price was $12.1 million. The San Antonio, Texas, properties comprise a two-story office building containing 146,180 square feet and a distribution facility containing 413,078 square feet. Both properties are net leased to Harcourt Inc. through March 31, 2016. The purchase price was $41.8 million. Lexington Corporate Properties Trust is a real estate investment trust that owns and manages office, industrial and retail properties. *** What's your opinion? Send your Letter to the Editor to newsroom@inman.com....

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