Company: LXP
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001444838-25-000023
Chunk: 110

Company: LXP Industrial Trust
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 110
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 In addition, during 2024, the Company acquired the fee interest in the land underlying its previously ground leased asset in Orlando, Florida and an additional land parcel with a 145,974 square foot tenant-constructed expansion for $7,609. 2023:Market (% owned)Acquisition/ Placed in Service DateInitial Cost BasisPrimary Lease ExpirationLandBuilding and ImprovementsPhoenix, AZ (100%)(1)March 2023$37,173 08/2033$7,552 $29,621 Dallas, TX (100%)July 202315,018 N/A2,100 12,918 Columbus, OH (100%)(1)October 202364,524 10/20336,536 57,988 Greenville/Spartanburg, SC (100%)(1)October 202321,676 02/20291,795 19,881 Central Florida (100%)(1)(2)December 20237,985 01/20291,961 6,024 $146,376 $19,944 $126,432 (1)Initial basis excludes certain remaining costs, such as tenant improvements, lease costs and developer incentive fees or partner promotes, if any.  (2)Represents a portion of the Central Florida development project placed into service.

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Table of ContentsLXP INDUSTRIAL TRUST AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS($000, except share/unit data)

At December 31, 2024, the Company incurred $5,947 related to infrastructure development costs at the Reems & Olive project that is recorded in investments in real estate under construction on the consolidated balance sheets.  As of December 31, 2024, the details of the land held for industrial development are as follows (in $000's, except acres): Project (% owned)MarketApproximate Acres (unaudited)GAAP Investment Balance as of 12/31/2024LXP Amount Fundedas of12/31/2024(1)Consolidated:Reems & Olive (95.5%)Phoenix, AZ315$75,324 $74,175 Mt. Comfort Phase II (80%)Indianapolis, IN1165,771 4,658 ATL Fairburn (100%)Atlanta, GA141,732 1,768 445$82,827 $