Lexington joint venture grows in Florida

Both properties occupied under long-term leases

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Lexington Corporate Properties Trust announced that one of its joint venture investment programs has acquired two adjacent industrial facilities totaling 432,445 square feet in Weston, Fla. The total value of the transactions was $30.6 million. The properties are net-leased to Hagemeyer Foods Inc. and Circuit City Stores Inc. The Hagemeyer property is a 201,845-square-foot distribution and cold storage facility constructed in 1995 on 15.1 acres. The property is net leased to Hagemeyer through Dec. 31, 2012. The purchase price was $18.1 million. The Circuit City property is a 230,600-square-foot distribution facility constructed in 1995 on 16.1 acres. The property is net leased to Circuit City through Feb. 28, 2017. The purchase price was $12.5 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....