Lexington completes joint-venture acquisitions

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Lexington Corporate Properties Trust purchased two properties in joint ventures totaling approximately $33.3 million. One of Lexington's joint venture programs acquired a newly built call center facility (the "Oakland Facility") in Oakland, Maine, for approximately $13.8 million. The Oakland Facility will be located in the 285-acre First Park business park, a project created by the Kennebec Regional Development Authority, a creation of the State of Maine for economic development in Kennebec and Somerset Counties. The Oakland Facility contains approximately 78,610 net rentable square feet located on an approximately 19.8-acre site. At the time of sale, the Oakland Facility was net-leased to Omnipoint Holdings Inc. through August 2020. Another of Lexington's joint venture programs acquired an office building/call center facility (the "McDonough Facility") in McDonough, Ga., for approximately $19.5 million. The McDonough Facility is single-story office building/call center containing ...