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 email@example.com.