Environmental

LXP focuses on single-tenant, industrial real estate investments.  The majority of its property leases are net leases in which the tenant is responsible for 100% of the operating expenses.  Historically, Lexington’s tenants have been the driver of sustainability efforts at the property level with LXP providing tenant improvement allowances or base building upgrades. 

Energy Efficiency & Renewables

Many of LXP’s industrial properties have energy efficient features, such as energy management systems, LED lighting and solar arrays. 

LXP Industrial Facility - Memphis, Tennessee Industrial Market

Benchmarking

LXP engaged JLL to perform a benchmark analysis of sustainability efforts and disclosures of certain of LXP's peers, tenants, and investors to help LXP develop an ESG strategy. 

Survey

LXP has prepared and is distrubuting a tenant and property manager survey for industrial assets with a goal of 60% completion by year-end 2020. The survey covers building functions and features related to “Green” issues and “Productive” issues, including energy, water, waste, and use of resources (lighting, heating and cooling, energy usage, green purchasing, use of paper, recycling programs, and green tenant programs). LXP believes this survey will provide an opportunity to collaborate with tenants and property managers on ESG efforts and provide a baseline for measuring future ESG goals.   

Following the completion of the tenant and property management survey process, LXP expects to increase its sustainability initiatives in its industrial portfolio, including setting benchmarks and targets for initiatives. 

Recent Recognition

In August 2019, LXP received a Clean Air Award for 2019 from the National Air Filtration Association for its Richmond, VA joint venture asset.