<SEC-DOCUMENT>0001539497-22-000744.txt : 20220401
<SEC-HEADER>0001539497-22-000744.hdr.sgml : 20220401
<ACCEPTANCE-DATETIME>20220401164108
ACCESSION NUMBER:		0001539497-22-000744
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220401
DATE AS OF CHANGE:		20220401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LXP Industrial Trust
		CENTRAL INDEX KEY:			0000910108
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				133717318
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12386
		FILM NUMBER:		22798919

	BUSINESS ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		STREET 2:		SUITE 4015
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119
		BUSINESS PHONE:		(212) 692-7200

	MAIL ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		STREET 2:		SUITE 4015
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXINGTON REALTY TRUST
		DATE OF NAME CHANGE:	20070104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXINGTON CORPORATE PROPERTIES TRUST
		DATE OF NAME CHANGE:	19980625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXINGTON CORPORATE PROPERTIES INC
		DATE OF NAME CHANGE:	19930816
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>n3045-x3_defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt/11.5pt Times New Roman, Times, Serif; margin: 6pt 0 0 69.65pt; text-align: center"><FONT STYLE="letter-spacing: -0.2pt"><B>SCHEDULE
14A INFORMATION<BR>
Proxy Statement Pursuant to Section 14(a) of<BR>
the Securities Exchange Act of 1934</B></FONT></P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 15.3pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 8.8pt 0 0 69.65pt; text-align: justify"><FONT STYLE="letter-spacing: 0.2pt">Filed
by the Registrant <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 5pt 0 0 69.65pt; text-align: justify"><FONT STYLE="letter-spacing: 0.2pt">Filed
by a Party other than the Registrant <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 5pt 0 0 69.65pt; text-align: justify"><FONT STYLE="letter-spacing: 0.2pt">Check
the appropriate box: </FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 69.65pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-top: 4.8pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: 0.2pt">&#9744;</FONT></TD>
    <TD STYLE="padding-top: 4.8pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt"><FONT STYLE="letter-spacing: 0.2pt">Preliminary Proxy Statement </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 0pt"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 4.8pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: 0.2pt">&#9744;</FONT></TD>
    <TD STYLE="padding-top: 4.8pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt"><FONT STYLE="letter-spacing: 0.2pt">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 0pt"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 4.8pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: 0.2pt">&#9744;</FONT></TD>
    <TD STYLE="padding-top: 4.8pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt"><FONT STYLE="letter-spacing: 0.2pt">Definitive Proxy Statement </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 0pt"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 4.8pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: 0.2pt">&#9744;</FONT></TD>
    <TD STYLE="padding-top: 4.8pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt"><FONT STYLE="letter-spacing: 0.2pt">Definitive Additional Materials </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 0pt"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 4.8pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: 0.2pt">&#9746;</FONT></TD>
    <TD STYLE="padding-top: 4.8pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt"><FONT STYLE="letter-spacing: 0.2pt">Soliciting Material Pursuant to &sect; 240.14a-12 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="font: 10pt/16pt Times New Roman, Times, Serif; margin: 12pt 0 0 69.65pt; text-align: center"><B>LXP INDUSTRIAL TRUST</B></P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt; text-align: center"><FONT STYLE="font-size: 10pt; letter-spacing: -0.15pt"><B>(Name
of Registrant as Specified In Its Charter)</B></FONT>&nbsp;</P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 13.3pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 3.8pt 0 0 69.65pt; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>(Name
of Person(s) Filing Proxy Statement, if other than the Registrant)</B></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 5pt 0 0 69.65pt; text-align: justify"><FONT STYLE="letter-spacing: 0.2pt">Payment
of Filing Fee (Check the appropriate box): </FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 4.8pt 0 0 89.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: 0.2pt">&#9746;</FONT>
&#9;<FONT STYLE="letter-spacing: 0.2pt">No fee required. </FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 4.8pt 0 0 89.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: 0.2pt">&#9744;</FONT>
&#9;<FONT STYLE="letter-spacing: 0.2pt">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. </FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 4.8pt 0 0 109.65pt"><FONT STYLE="letter-spacing: 0.2pt">(1)</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: 0.2pt">Title
of each class of securities to which transaction applies: &nbsp;</FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 2.3pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6.8pt 0 0 109.65pt"><FONT STYLE="letter-spacing: 0.2pt">(2)</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: 0.2pt">Aggregate
number of securities to which transaction applies: </FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 2.3pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6.8pt 0 0 129.65pt; text-indent: -20pt; text-align: justify"><FONT STYLE="letter-spacing: 0.2pt">(3)</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: 0.2pt">Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
</FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 2.3pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6.8pt 0 0 109.65pt"><FONT STYLE="letter-spacing: 0.2pt">(4)</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: 0.2pt">Proposed
maximum aggregate value of transaction: </FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 2.3pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6.8pt 0 0 109.65pt"><FONT STYLE="letter-spacing: 0.2pt">(5)</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: 0.2pt">Total
fee paid:<BR>
<BR>
</FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 2.3pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6.8pt 0 0 89.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: 0.2pt">&#9744;</FONT>
&#9;<FONT STYLE="letter-spacing: 0.2pt">Fee paid previously with preliminary materials. </FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 4.8pt 0 0 89.65pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: 0.2pt">&#9744;</FONT>
&#9;<FONT STYLE="letter-spacing: 0.2pt">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify
the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form
or Schedule and the date of its filing. </FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 4.9pt 0 0 109.65pt"><FONT STYLE="letter-spacing: 0.2pt">(1)</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: 0.2pt">Amount
Previously Paid:<BR>
</FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 2.4pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6.9pt 0 0 109.65pt"><FONT STYLE="letter-spacing: 0.2pt">(2)</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: 0.2pt">Form,
Schedule or Registration Statement No.:<BR>
</FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 2.4pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6.9pt 0 0 109.65pt"><FONT STYLE="letter-spacing: 0.2pt">(3)</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: 0.2pt">Filing
Party:<BR>
</FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 2.4pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6.9pt 0 0 109.65pt"><FONT STYLE="letter-spacing: 0.2pt">(4)</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="letter-spacing: 0.2pt">Date
Filed:<BR>
</FONT></P>

<P STYLE="font: 10pt/0pt Times New Roman, Times, Serif; margin: 0 0 0 69.65pt">&nbsp;</P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 2.4pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>LXP Industrial Trust Appoints Arun Gupta to Board
of Trustees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>Gupta Brings Valuable Expertise in<BR>
M&amp;A Transactions, Cybersecurity and Technology </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">New York &ndash; April 1, 2022 &ndash; LXP
Industrial Trust (NYSE:LXP) (&ldquo;LXP&rdquo; or the &ldquo;Company&rdquo;), a real estate investment trust (REIT) focused on
single-tenant warehouse/distribution real estate investments, today announced the appointment of Arun Gupta to its Board of
Trustees (the &ldquo;Board&rdquo;), effective immediately.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Gupta, who has over two decades of venture capital
experience at Columbia Capital and Carlyle Venture Partners, is currently an adjunct Entrepreneurship professor at Georgetown University,
entrepreneurship lecturer at Stanford University, and Venture Partner at Columbia Capital. He brings extensive investing, cybersecurity
and technology expertise as well as extensive experience working with management teams through scaling and strategic transaction processes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;We are pleased to add a leader of Arun&rsquo;s
caliber to our Board of Trustees as part of our ongoing refreshment process,&rdquo; said Claire Koeneman, Chairperson of the Nominating
and Corporate Governance Committee of LXP&rsquo;s Board of Trustees. &ldquo;We understand the value of having experienced, diverse and
independent perspectives in our boardroom and have taken significant steps to ensure the Board reflects an appropriate mix of backgrounds.
Arun brings substantial expertise in the technology and cybersecurity sectors as well as decades of experience advising companies through
growth and transformative transactions.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The addition of Mr. Gupta increases the size of LXP&rsquo;s
Board to eight trustees and fulfills the Company&rsquo;s previously announced goal to further enhance and diversify its Board by the end
of 2022. With Mr. Gupta&rsquo;s appointment, the LXP Board has added six new independent trustees since 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">LXP also announced that, if elected at the 2022 Annual
Meeting of Shareholders, Richard S. Frary will not stand for reelection in 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">T. Wilson Eglin, Chairman, Chief Executive Officer
and President of LXP, commented, &ldquo;We look forward to benefitting from Arun&rsquo;s insights as we continue to execute on our disciplined
growth strategy and evaluate strategic alternatives to maximize shareholder value. We extend our gratitude to Richard, who has made many
important contributions to LXP&rsquo;s success during his tenure. As the Board&rsquo;s lead independent trustee, Richard has been instrumental
in supporting our transition to an industrial REIT and our corporate governance initiatives, including our ongoing trustee refreshment
process and evolving our ESG policies, to ensure LXP is best positioned to enhance shareholder value.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As previously announced on Feb. 8, 2022, the LXP Board
of Trustees commenced a process to explore the Company&rsquo;s strategic alternatives. With the support of its independent financial advisors,
the Board will consider a wide range of options including, among other things, a sale, merger and other business combinations. LXP has
not set a timetable for the review process, nor has it made any decisions related to any potential strategic alternatives at this time.
There can be no assurance that the review process will result in a transaction or other strategic change or outcome. The Company does
not intend to disclose or comment on developments related to this review unless or until it determines that further disclosure is appropriate
or required by law.<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ABOUT ARUN GUPTA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Arun Gupta is an entrepreneurial executive with experience
in US and international venture capital, assessing emerging technologies, scaling high-growth companies, teaching entrepreneurship and
coordinating national security and technology policy. Mr. Gupta has served as a Venture Partner of Columbia Capital, a private equity
firm focused on Enterprise IT, Mobility and Digital Infrastructure since 2000. Mr. Gupta currently serves as a board member of LMI, a
leading national security not-for-profit, and C5 Acquisition Corp., a special acquisition company focused on cybersecurity, space and
energy sectors. He is also currently on the board or was previously involved with Columbia portfolio companies including Altamira (Acquired
by Clearsky), Daz3D, Millennial Media, Endgame (acquired by Elastic), Riptech (acquired by Symantec Corporation), Softek Storage Holdings
(acquired by IBM), Verato, Vubiquity (acquired by Amdocs) and Webs (acquired by Vista print). Additionally, Mr. Gupta served as an Independent
Director at 1901 Group, leading cloud and security managed services company (acquired by Leidos). Previously, Mr. Gupta spent time with
Carlyle Venture Partners, where he focused on software investments. Earlier, Mr. Gupta held positions in Arthur D. Little&rsquo;s telecom
and technology consulting practice and shared responsibility for establishing ADL&rsquo;s operation in India.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Gupta is an Adjunct Professor and Senior Advisor
to Provost at Georgetown Business School and an Adjunct Lecturer at Stanford University. Mr. Gupta previously served as a member of the
Tech &amp; Cybersecurity Advisory Committee for U.S. Senator Mark Warner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ABOUT LXP INDUSTRIAL TRUST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">LXP Industrial Trust (NYSE: LXP) is a publicly traded
real estate investment trust (REIT) focused on single-tenant warehouse and distribution investments across the United States. LXP seeks
to expand its portfolio through acquisitions, development projects, and build-to-suit and sale/leaseback transactions. For more information
or to follow LXP on social media, visit www.lxp.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Important Additional Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event that Lands &amp; Buildings Investment
Management, LLC files a consent solicitation statement or a proxy statement with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;)
in connection with a solicitation to, among other things, possibly remove trustees of LXP (the &ldquo;Solicitation&rdquo;), LXP plans
to file a proxy statement or a consent revocation statement, as applicable (each, a &ldquo;Solicitation Statement&rdquo;), with the SEC,
together with a WHITE proxy card or consent revocation card, as applicable. SHAREHOLDERS ARE URGED TO READ THE APPLICABLE SOLICITATION
STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT LXP WILL FILE WITH THE SEC CAREFULLY
AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders will be able to obtain,
free of charge, copies of the Solicitation Statement, any amendments or supplements thereto and any other documents (including the WHITE
proxy card or consent revocation card, as applicable) when filed by LXP with the SEC in connection with the Solicitation at the SEC&rsquo;s
website (http://www.sec.gov) or at LXP&rsquo;s website at www.lxp.com within the investors section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Certain Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">LXP, its trustees and certain of its executive officers
and other employees may be deemed to be participants in the solicitation of proxies from shareholders in connection with the Solicitation.
Additional information regarding the identity of these potential participants, none of whom owns in excess of one percent (1%) of LXP&rsquo;s
shares, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the applicable Solicitation Statement
and other materials to be filed with the SEC in connection with the Solicitation. Information relating to the foregoing can also be found
in LXP&rsquo;s definitive proxy statement for its 2021 annual meeting of shareholders (the &ldquo;2021 Proxy Statement&rdquo;), filed
with the SEC on April 8, 2021. To the extent holdings of LXP&rsquo;s securities by such potential participants (or the identity of such
participants) have changed since the information printed in the 2021 Proxy Statement, such information has been or will be reflected on
Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You may obtain free copies of these documents using the sources
indicated above.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investor or Media Inquiries for Lexington Realty Trust:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Heather Gentry, Senior Vice President, Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Lexington Realty Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Phone: (212) 692-7200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">E-mail: hgentry@lxp.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Media Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Andrew Siegel / Lucas Pers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Joele Frank, Wilkinson Brimmer Katcher</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Phone: (212) 355-4449</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>





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