Company: LXP
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001444838-25-000023
Chunk: 108

Company: LXP Industrial Trust
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 108
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:Buildings and building improvements$3,765,387 $3,424,334 Land, land estates and land improvements399,685 348,133 Construction in progress11,222 1,772 Real estate intangibles:In-place lease values308,266 303,457 Tenant relationships9,498 10,388 Above-market leases680 680 Land held for development82,827 80,743 Investments in real estate under construction5,947 319,355 4,583,512 4,488,862 Accumulated depreciation and amortization(1)(1,047,166)(904,709)Real estate, net $3,536,346 $3,584,153 (1)Includes accumulated amortization of real estate intangible assets of $209,172 and $191,332 in 2024 and 2023, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $25,126 in 2025, $21,518 in 2026, $15,964 in 2027, $11,879 in 2028 and $10,737 in 2029.The Company had below-market leases, net of accumulated accretion, which are included in deferred revenue, of $6,722 and $9,385, respectively, as of December 31, 2024 and 2023. The estimated accretion for the next five years:Years ending December 31,Estimated Accretion2025$2,568 20261,215 2027969 2028681 2029681 $6,114 

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

The Company acquired or completed and placed into service the following assets during 2024 and 2023:2024:Market (% owned)Acquisition/ Placed in Service DateInitial Cost Basis (1)Primary Lease ExpirationLandBuilding and ImprovementsLease in-place Value IntangiblePhoenix, AZ (100%)February 2024$52,767 01/2031$9,449 $43,318 $— Central Florida (80%) (2)February 202480,825 N/A10,618 70,207 — Indianapolis, IN