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Lexington Acquires Equant Facility

Carrier Hotels Staff Posted Apr 26, 2004

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Real estate investment trust Lexington Corporate Properties has bought a Herndon, Va. data center occupied by Equant Inc. as an investment property, the company said last week.

Lexington paid $20.8 million for the two-story, 125,293 square foot building, which includes office space as well as a finished data center. The property, which includes 8.65 acres of land, is net leased to Equant, Inc. through April 30, 2015. The obligations of the tenant under the lease are guaranteed by Equant N.V., which is majority owned by France Telecom S.A.

The property is the twelfth acquired by Lexington and its affiliated joint venture investment programs this year and raises acquisition volume to $291.9 million for 2004.

Lexington Corporate Properties Trust is a real estate investment trust which invests in single-tenant net-lease properties throughout the United States. The Company currently owns and/or manages 125 properties located in 34 states totaling approximately 24.9 million square feet.