Lexington joint venture buys medical researcher's headquarters

A joint venture program of Lexington Corporate Properties Trust purchased the headquarters of the 187,262-square-foot Specialty Laboratories Inc. in Santa Clarita, Calif.

The newly constructed property was acquired in a sale/leaseback transaction for $47 million.

The property is a three-story office/research and development and laboratory facility on a 13.8-acre site.

The property is net leased to Specialty Laboratories Inc. for 20 years.

Lexington Corporate Properties trust is a real estate investment trust that owns and manages office, industrial and retail properties.

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