Investments in Real Estate

3 Months Ended

Mar. 31, 2026

As of March 31, 2026, the details of the outstanding development arrangements are as follows (in $000s, except square feet):


Project (% owned)	# of Buildings	Market	Estimated Sq. Ft.	Estimated Project Cost		GAAP Investment Balance as of 3/31/2026(1)		LXP Amount Funded as of 3/31/2026(2)		Estimated Base Building Completion Date	% Leased as of 3/31/2026
Development Projects
Reems & Olive - Building D (95.5%)	1	Phoenix, AZ	1,185,000	$	121,900	$	23,953	$	20,230	1Q 2027	—	%

Redevelopment Projects
Orlando (100.0%)(3)	1	Central FL	350,990	$	9,400	$	17,350	$	3,242	4Q 2026	—	%
Richmond (100.0%)(3)	1	Richmond, VA	252,351	3,900		14,594		3,071		2Q 2026	—	%
Total Redevelopment Projects	2		603,341	$	13,300	$	31,944	$	6,313

Land Infrastructure Improvements
Reems & Olive (95.5%)(4)	N/A	Phoenix, AZ	N/A	16,200		12,952		15,547		N/A	N/A

Total	3		1,788,341	$	151,400	$	68,849	$	42,090

(1) Excludes leasing costs, incomplete costs and developer incentive fees or partner promotes if any.

(2) Excludes noncontrolling interests' share.

(3) Estimated project costs exclude estimated tenant improvements and leasing costs.

(4) Represents infrastructure development costs to prepare the land for vertical development.

As of March 31, 2026, the Company's aggregate investment in the ongoing development arrangements was $68,849. This amount included capitalized interest of $207 for the three months ended March 31, 2026 and is presented as Investments in real estate under construction in the accompanying unaudited Condensed Consolidated Balance Sheets. For the three months ended March 31, 2025, capitalized interest for development arrangements was $42.

As of March 31, 2026, the details of the land held for industrial development are as follows (in $000s, except acres):


Project (% owned)	Market	Approximate Acres	GAAP Investment Balance as of 3/31/2026		LXP Amount Funded as of 3/31/2026(1)
Consolidated
Reems & Olive (95.5%)	Phoenix, AZ	240	$	57,454	$	57,306
Mt. Comfort Phase II (80.0%)	Indianapolis, IN	116	5,879		4,761
ATL Fairburn (100.0%)	Atlanta, GA	14	1,732		1,779
Total Consolidated Land		370	$	65,065	$	63,846

(1) Excludes noncontrolling interests' share.