Lexington Realty Trust, a REIT focused on single-tenant industrial and office real estate investments, has acquired a three-property industrial portfolio for approximately $200 million.
The newly constructed, class A warehouse/distribution facilities are located along Interstate 40 in Tennessee and Mississippi. The portfolio has a weighted-average remaining lease term of approximately 9.8 years.
This portfolio transaction is consistent with Lexington’s continued focus on the purchase of well-located, high-quality industrial assets. To date, the firm’s 2017 investment volume, inclusive of closed transactions and commitments, totals approximately $675 million. In addition, these investments have a weighted-average remaining lease term of 13.3 years.
The first property is a 1.5 million-square-foot warehouse and light assembly facility located in Smyrna, Tenn., a bulk-logistics submarket of Nashville. The property has been net-leased to Nissan North America for
