NEW YORK - January 5, 2004 - PRNewswire-FirstCall
Lexington Corporate Properties Trust (NYSE: LXP), a real estate investment trust, today announced that it has acquired the headquarters of New Jersey Natural Gas Company in Wall Township, N.J. The purchase price was approximately $33.7 million. The property is a three-story, Class-A office facility containing 157,511 square feet on 22.1 acres. The property is leased to New Jersey Natural Gas Company under a net lease which expires June 30, 2021. In connection with the acquisition, Lexington assumed non-recourse first mortgage financing of approximately $27.5 million. The loan bears interest at a fixed rate of 7.32% and matures on January 1, 2021.
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Saturday, January 10, 2004
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