Company: LXP
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000910108-25-000020
Chunk: 58

Company: LXP Industrial Trust
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 58
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11,459 6,381 7,036 N/AN/A252,351 $16,159 $17,500 $7,036 (1)    Excludes leasing costs, incomplete costs, and developer incentive fees or partner promotes, if any. (2)    Excludes noncontrolling interests' share.(3)    During the first quarter, the tenant vacated the building, which is part of a four building integrated campus, and the Company began redeveloping the property into a standalone warehouse and distribution facility.(4)    Represents infrastructure development costs to prepare the land for vertical development.As of March 31, 2025, the Company's aggregate investment in the ongoing development arrangements was $17,500. This amount included capitalized interest of $42 for the three months ended March 31, 2025 and is presented as investments in real estate under construction in the accompanying unaudited condensed consolidated balance sheet. For the three months ended March 31, 2024, capitalized interest for development arrangements was $1,211.  As of March 31, 2025, the details of the land held for industrial development are as follows (in $000's, except acres):Project (% owned)MarketApprox. Developable AcresGAAP Investment Balance as of 3/31/2025LXP Amount Fundedas of3/31/2025 (1)Reems & Olive (95.5%)Phoenix, AZ315$75,327 $74,188 Mt. Comfort Phase II (80%)Indianapolis, IN1165,861 4,661 ATL Fairburn JV (100%)Atlanta, GA141,732 1,768 445$82,920 $80,617 (1)    Excludes noncontrolling interests' share.

(4)Dispositions and Impairment

The following table summarizes the Company's dispositions during the three months ended March 31, 2025. There were no dispositions during the three months ended March 31, 2024. Sale of real estate, net (dollars in $000's)Three months ended March 31, 2025Number of buildings1 Building square feet241,997 Net proceeds from sale of real estate$34,118 Net book value$9,483 Gain on the sale of real estate$24,635 

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Table of ContentsLXP INDUSTRIAL