Lexington Corporate Properties Trust acquired two Midwest office properties totaling 248,343 square feet.

The total value of the transactions was $22 million.

The Clive, Iowa, property is a two-story office building containing 61,180 square feet that is net-leased to Principal Life Insurance Co. through Jan. 31, 2012. The purchase price was $9.3 million.

The Southfield, Mich., property consists of two adjacent office buildings containing a total of 187,163 square feet. The property is net-leased to Federal-Mogul Corp. through Jan. 31, 2015. The purchase price was $12.7 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.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top