LXP Industrial Trust Leases 1.1 Million Square Foot Industrial Facility in Greenville/Spartanburg
LXP Industrial Trust (NYSE: LXP) has secured a lease for its 1.1 million square foot industrial facility in Greenville/Spartanburg, South Carolina. The lease agreement is with a U.S. subsidiary of a global logistics company, commencing June 1, 2025, for a two-year term with two five-year renewal options. The initial rent is set at $5.50 per square foot with 3.25% annual rental escalations.
The lease is expected to generate approximately $3.7 million in Base Rent and operating cost reimbursement in 2025, resulting in an estimated stabilized cash yield of 8.0% for the development project. LXP has developed 15 facilities totaling 9.1 million square feet, with 74% already leased at an average estimated stabilized cash yield of 7.1%. The company has 2.3 million square feet of remaining spec development space available for leasing.
LXP Industrial Trust (NYSE: LXP) ha firmato un contratto di locazione per il suo immobile industriale di 1,1 milioni di piedi quadrati situato a Greenville/Spartanburg, South Carolina. Il contratto è con una controllata statunitense di una società globale di logistica, con inizio il 1 giugno 2025, per una durata di due anni con due opzioni di rinnovo di cinque anni ciascuna. Il canone iniziale è fissato a 5,50 dollari per piede quadrato con incrementi annuali del 3,25%.
Il contratto di locazione dovrebbe generare circa 3,7 milioni di dollari di canone base e rimborso delle spese operative nel 2025, con un rendimento di cassa stabilizzato stimato dell’8,0% per il progetto di sviluppo. LXP ha sviluppato 15 strutture per un totale di 9,1 milioni di piedi quadrati, di cui il 74% è già locato con un rendimento medio stimato di cassa stabilizzato del 7,1%. L’azienda dispone ancora di 2,3 milioni di piedi quadrati di spazio per sviluppo speculativo disponibile per la locazione.
LXP Industrial Trust (NYSE: LXP) ha asegurado un contrato de arrendamiento para su instalación industrial de 1,1 millones de pies cuadrados en Greenville/Spartanburg, Carolina del Sur. El contrato es con una subsidiaria estadounidense de una empresa global de logística, que comenzará el 1 de junio de 2025, por un plazo de dos años con dos opciones de renovación de cinco años cada una. La renta inicial es de $5.50 por pie cuadrado con incrementos anuales del 3,25%.
Se espera que el arrendamiento genere aproximadamente $3.7 millones en renta base y reembolso de costos operativos en 2025, resultando en un rendimiento estimado de efectivo estabilizado del 8,0% para el proyecto de desarrollo. LXP ha desarrollado 15 instalaciones que suman 9.1 millones de pies cuadrados, con un 74% ya arrendado a un rendimiento promedio estimado de efectivo estabilizado del 7.1%. La empresa cuenta con 2.3 millones de pies cuadrados de espacio restante para desarrollo especulativo disponible para arrendamiento.
LXP Industrial Trust (NYSE: LXP)는 사우스캐롤라이나주 그린빌/스파르탄버그에 위치한 110만 평방피트 규모의 산업 시설에 대한 임대 계약을 체결했습니다. 이 임대 계약은 글로벌 물류 회사의 미국 자회사와 체결되었으며, 2025년 6월 1일부터 시작하여 2년 임기이며 5년 연장 옵션이 두 차례 포함되어 있습니다. 초기 임대료는
이 임대 계약은 2025년에 약 370만 달러의 기본 임대료와 운영비 환급을 창출할 것으로 예상되며, 개발 프로젝트에 대해 추정 안정화 현금 수익률은 8.0%입니다. LXP는 총 910만 평방피트 규모의 15개 시설을 개발했으며, 그 중 74%가 이미 임대되어 평균 추정 안정화 현금 수익률은 7.1%입니다. 회사는 임대 가능한 230만 평방피트의 남은 사전 개발 공간을 보유하고 있습니다.
LXP Industrial Trust (NYSE : LXP) a conclu un bail pour sa plateforme industrielle de 1,1 million de pieds carrés située à Greenville/Spartanburg, en Caroline du Sud. Le contrat de location a été signé avec une filiale américaine d’une entreprise logistique mondiale, débutant le 1er juin 2025, pour une durée initiale de deux ans avec deux options de renouvellement de cinq ans chacune. Le loyer initial est fixé à 5,50 $ par pied carré avec des augmentations annuelles de 3,25 %.
Le bail devrait générer environ 3,7 millions de dollars de loyer de base et de remboursement des coûts d’exploitation en 2025, ce qui correspond à un rendement en trésorerie stabilisé estimé à 8,0 % pour ce projet de développement. LXP a développé 15 sites totalisant 9,1 millions de pieds carrés, dont 74 % sont déjà loués avec un rendement moyen estimé en trésorerie stabilisée de 7,1 %. La société dispose encore de 2,3 millions de pieds carrés d’espace de développement spéculatif disponible à la location.
LXP Industrial Trust (NYSE: LXP) hat einen Mietvertrag für seine 1,1 Millionen Quadratfuß große Industrieanlage in Greenville/Spartanburg, South Carolina, abgeschlossen. Der Mietvertrag wurde mit einer US-Tochtergesellschaft eines globalen Logistikunternehmens geschlossen und beginnt am 1. Juni 2025 für eine Laufzeit von zwei Jahren mit zwei Verlängerungsoptionen von jeweils fünf Jahren. Die Anfangsmiete beträgt 5,50 USD pro Quadratfuß mit jährlichen Mietsteigerungen von 3,25%.
Der Mietvertrag soll im Jahr 2025 etwa 3,7 Millionen USD an Grundmiete und Betriebskostenrückerstattung generieren, was zu einer geschätzten stabilisierten Cash-Rendite von 8,0% für das Entwicklungsprojekt führt. LXP hat 15 Einrichtungen mit insgesamt 9,1 Millionen Quadratfuß entwickelt, von denen bereits 74% vermietet sind, mit einer durchschnittlichen geschätzten stabilisierten Cash-Rendite von 7,1%. Das Unternehmen verfügt noch über 2,3 Millionen Quadratfuß an verfügbaren Flächen für spekulative Entwicklungen zur Vermietung.
- New lease agreement secures 1.1 million square feet with initial rent of $5.50/sq ft and 3.25% annual escalations
- Expected to generate $3.7 million in Base Rent and operating cost reimbursement in 2025
- Attractive 8.0% estimated stabilized cash yield on the development project
- Strong portfolio performance with 74% of developed facilities already leased at 7.1% average yield
- Short initial lease term of only two years creates potential near-term vacancy risk
- 2.3 million square feet of spec development space remains unleased
WEST PALM BEACH, Fla., May 21, 2025 (GLOBE NEWSWIRE) -- LXP Industrial Trust (“LXP”) (NYSE: LXP), a real estate investment trust (REIT) focused on Class A warehouse and distribution investments, today announced that it executed a lease for its approximately 1.1 million square foot industrial facility in the Greenville/Spartanburg, South Carolina market.
The lease to a U.S. subsidiary of a global logistics company commences on June 1, 2025, for a two-year term, with two five-year renewal options, and an initial rent of
T. Wilson Eglin, Chairman and Chief Executive Officer of LXP, commented, “Leasing our Greenville/Spartanburg industrial facility to a full building user is an important component of our earnings growth. We expect this lease to generate approximately
ABOUT LXP INDUSTRIAL TRUST
LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on Class A warehouse and distribution investments in 12 target markets across the Sunbelt and Midwest. LXP seeks to expand its portfolio through acquisitions, development projects, and build-to-suit and sale/leaseback transactions. For more information or to follow LXP on social media, visit www.lxp.com.
This release contains certain forward-looking statements which involve known and unknown risks, uncertainties and other factors not under LXP’s control which may cause actual results, performance or achievements of LXP to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in LXP's periodic filings with the Securities and Exchange Commission. Except as required by law, LXP undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events.
Base Rent is calculated by making adjustments to GAAP rental revenue to exclude billed tenant reimbursements and lease termination income and to include ancillary income. Base Rent excludes reserves/write-offs of deferred rent receivable, as applicable. LXP believes Base Rent provides a meaningful measure due to the net lease structure of leases in its portfolio.
Stabilized yields assume
Contact: Investor or Media Inquiries for LXP Industrial Trust: Heather Gentry, Executive Vice President of Investor Relations LXP Industrial Trust Phone: (212) 692-7200 E-mail: hgentry@lxp.com
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