The two-story office property was constructed in 1985 and is situated on a seven-acre site. The property is currently leased to Cadence Design Systems Inc. with a term that extends through 2013. In this transaction, Cushman & Wakefield's Financial Services Group of Robert E. Griffin, Jr., Marci Griffith Loeber, Christopher T. Griffin and Jeffrey H. Gates represented the unidentified seller and procured the buyer.
Lexington owns and manages office, industrial and retail properties leased to major corporations throughout the country. In the second quarter, the firm closed on seven investments for an aggregate capitalized cost of $123.2 million, including $65.6 million in joint ventures.
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