What LXP Industrial Trust does

LXP Industrial Trust (NYSE: LXP) is a publicly traded industrial REIT that has operated since 1993, focused on Class A warehouse and distribution properties in the U.S. Sunbelt and lower Midwest. As of September 30, 2025, the portfolio comprised 112 properties totaling 54.2 million square feet across 12 markets, anchored by named enterprise tenants such as Amazon, BMW, Continental Tire, Kyungshin America, and Weida Freight. The company has been actively repositioning the portfolio through $389.1 million of 2025 dispositions, a 37-acre Phoenix redevelopment acquisition in Q2 2026, and a 1.2 million sq ft Phoenix speculative development pipeline, while also expanding its Institutional Fund Management business to layer fee income on top of the owned portfolio.

The business model is a hybrid of wholly-owned rental operations and fee-bearing third-party capital management. Rental income is generated primarily through single-tenant net leases with long durations and contractual escalators, producing same-store NOI growth of 2.0% and FFO growth of 2.6% in the recent period. Revenue totaled $350.2 million in 2025, down from $358.5 million in 2024 due to disposition activity. Capital is accessed through investment-grade unsecured debt and term loans, exemplified by the $850 million refinancing executed in January 2026, and managed through a 51-100 employee platform. A 1-for-5 reverse share split was completed in November 2025. The company has agreed to be acquired by Brookfield and CPP Investments for $5.2 billion in a take-private transaction announced in July 2026, which will materially alter the corporate structure and capital base going forward.

Name

LXP Industrial Trust

Legal name

LXP Industrial Trust

Website

https://lxp.com

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

51–100 employees

Short description

LXP Industrial Trust (NYSE: LXP) is a publicly traded REIT that owns and operates 112 Class A industrial warehouse and distribution properties totaling 54.2 million square feet across 12 U.S. Sunbelt and lower Midwest markets, serving enterprise tenants such as Amazon, BMW, and Continental Tire.

Ownership category

akta.pro rank

Product category

Industrial REIT

NAICS

Other Financial Vehicles (52599)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

Industrial & Logistics Real Estate Asset Management (BPAJAMAC)

akta.pro secondary industries

Industrial & Logistics Property Management (BPAJAGAC), Warehousing & Logistics Facilities Brokerage (BPAJACAA), Industrial & Logistics Brokerage (BPAJABAC)

Keywords

• Industrial real estate
• Warehouse properties
• Distribution facilities
• REIT investments
• Build-to-suit development

Headquarters

HQ city

West Palm Beach

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Rental Income from Industrial Properties: LXP Industrial Trust generates revenue primarily through rental income from its portfolio of single-tenant Class A warehouse and distribution industrial properties. The company focuses on long-term net leases with annual rental escalations of at least 2%, typically ranging from 5-15 years. Properties are located in 12 target markets across the Sunbelt and lower Midwest regions.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

LXP Industrial Trust acquires, develops, and operates Class A warehouse and distribution properties through a multi-channel investment strategy that includes property acquisitions, build-to-suit development, sale-leaseback transactions, and institutional fund management. The REIT leases modern industrial facilities to corporate tenants under long-term net lease arrangements primarily in U.S. coastal and high-barrier logistics markets.

Product overview

LXP Industrial Trust (NYSE: LXP) is a publicly traded REIT that operates as a single unified investment platform focused on Class A industrial real estate. The company offers a diversified portfolio of 112 industrial properties totaling 54.2 million square feet across 12 Sunbelt and lower Midwest markets. The investment platform is organized around five core service lines: Acquisitions (active purchasing of single-tenant industrial properties), Development (speculative development through joint ventures), Build-to-Suits (custom development and financing for corporate tenants), Sale/Leasebacks (providing liquidity to corporate users), and Institutional Fund Management (co-investment programs with pension funds and developers). The portfolio includes bulk distribution facilities, cross-dock warehouses, and last-mile logistics properties, with tenant relationships spanning major e-commerce and manufacturing operators. The company also maintains a quarterly dividend distribution program for common and preferred shareholders.

Differentiator

Problem solved

Functional benefit

Products and services

• Class A warehouse and distribution properties Modern, high-quality industrial warehouse and distribution facilities located in strategic logistics markets, leased to corporate tenants under long-term net lease agreements. Tenants typically operate in e-commerce, retail distribution, third-party logistics, manufacturing, and consumer goods sectors.
• Build-to-suit development Custom-built Class A industrial warehouse and distribution facilities designed and constructed to meet specific tenant operational requirements, typically pre-leased to a corporate user before or upon completion.
• Sale-leaseback transactions Acquisition of corporate-owned industrial real estate with simultaneous execution of long-term net lease back to the seller, enabling corporate owners to unlock capital tied up in real estate while maintaining operational occupancy.
• Institutional fund management Investment management services for institutional capital partners, including sourcing, underwriting, development oversight, asset management, and disposition of industrial real estate investments through managed funds and joint ventures.

Quantifiable outcome

• 22% average cash base rental increases on second-generation leases in Q2 2026
• +5 more outcomes

Named customers5 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor and core.

• Broe Real Estate GroupminorStrategic or Co-development Partner · 31 October 2024Broe Real Estate Group sold Savannah Gateway 1G, a 204,800-square-foot Class A distribution center in Rincon, Georgia, to an affiliate of LXP Industrial Trust for $34.1 million. Property is fully leased to tenants Kyungshin America Corporation and Weida Freight with proximity to Port of Savannah.
• Development Partners (Joint Venture)coreStrategic or Co-development PartnerLXP enters into joint ventures with development partners for speculative development opportunities. The company participates in shovel-ready development projects in markets including Phoenix, Indianapolis, Greenville-Spartanburg, Central Florida (Ocala), and Columbus. Development partners bear much of the development and entitlement risk while LXP provides capital.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Industrial Logistics Properties Trust: ILPT is a publicly traded industrial and logistics REIT with a portfolio concentrated in Hawaii and the continental U.S., sponsored by the RMR Group. It competes with LXP for institutional industrial capital and overlaps in tenant base, though with a different geographic mix.
• Stag Industrial: STAG Industrial (NYSE: STAG) is a publicly traded REIT focused on single-tenant and light industrial properties across the U.S., with a similar net-lease orientation and tenant credit-quality underwriting to LXP, though broader geographically and more weighted to secondary markets.
• Rexford Industrial Realty: Rexford Industrial (NYSE: REXR) is a pure-play infill Southern California industrial REIT focused on last-mile distribution facilities. It competes for the same Class A single-tenant demand and shares LXP's focus on modernized, high-clear-height logistics product.
• EastGroup Properties: EastGroup Properties (NYSE: EGP) is a Sunbelt-focused industrial REIT with a multi-tenant portfolio concentrated in high-growth markets such as Dallas, Atlanta, and Florida — the most directly comparable peer to LXP given overlapping geography, tenant profile, and Class A infill strategy.
• Terreno Realty: Terreno Realty (NYSE: TRNO) owns and operates infill industrial properties in six major U.S. coastal markets. Highly comparable in its focus on Class A infill product, tenant relationships, and development-driven value creation, although Terreno is concentrated on coastal rather than Sunbelt markets.
• First Industrial Realty Trust: First Industrial (NYSE: FR) operates a $7B+ portfolio of Class A industrial properties across major U.S. markets including the Sunbelt. Similar in scale and tenant-mix orientation to LXP, with a comparable single-tenant and multi-tenant strategy and active development pipeline.
• PS Business Parks: PS Business Parks (NYSE: PSB) owns and operates flex/office and industrial space concentrated in select U.S. markets. It overlaps with LXP in single-tenant industrial exposure but skews toward flex/office product and a more limited geographic footprint.

Broad incumbents

• Prologis: Prologis (NYSE: PLD) is the largest global industrial REIT with a portfolio exceeding $200 billion in logistics real estate across the Americas, Europe, and Asia. As the dominant incumbent, it competes for institutional capital and acquisition opportunities but operates at a fundamentally different scale and global reach than LXP.
• GLP / GLP IIP: GLP and its investment trust GLP IIP are among the world's largest owners of modern logistics real estate, with significant U.S. exposure. Comparable to LXP as a broad logistics platform but with a globally diversified portfolio and private-capital ownership structure (including major Chinese institutional investors).

Regional players

• WPT Industrial REIT: WPT Industrial REIT (formerly TSX: WIR.U) was a Canadian-listed industrial REIT focused on U.S. Midwest and Sunbelt distribution warehouses prior to its acquisition by Blackstone in 2022. Highly comparable to LXP in market focus, asset class, and tenant profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/lxpindustrial
• Facebookfacebook.com/lxpindustrial
• LinkedInlinkedin.com/company/lxp-industrial-trust
• Instagraminstagram.com/lxpindustrialtrust

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LXP Industrial Trust