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Investments in Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2024
Real Estate [Abstract] |
Schedule of Net Real Estate | The Company's real estate, net, consists of the following at December 31, 2024 and 2023:
|  | 2024 |  | 2023
Real estate, at cost: |  |  |  |
Buildings and building improvements |  | $ | 3,765,387 |  |  | $ | 3,424,334 |
Land, land estates and land improvements |  | 399,685 |  |  | 348,133 |
Construction in progress |  | 11,222 |  |  | 1,772 |
Real estate intangibles: |  |  |  |
In-place lease values |  | 308,266 |  |  | 303,457 |
Tenant relationships |  | 9,498 |  |  | 10,388 |
Above-market leases |  | 680 |  |  | 680 |
Land held for development |  | 82,827 |  |  | 80,743 |
Investments in real estate under construction |  | 5,947 |  |  | 319,355 |
|  | 4,583,512 |  |  | 4,488,862 |
Accumulated depreciation and amortization(1) |  | (1,047,166) |  |  | (904,709) |
Real estate, net |  | $ | 3,536,346 |  |  | $ | 3,584,153 |
(1)Includes accumulated amortization of real estate intangible assets of $209,172 and $191,332 in 2024 and 2023, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $25,126 in 2025, $21,518 in 2026, $15,964 in 2027, $11,879 in 2028 and $10,737 in 2029. As of December 31, 2024, the details of the land held for industrial development are as follows (in $000's, except acres):
Project (% owned) |  | Market |  | Approximate Acres (unaudited) |  | GAAP Investment Balance as of 12/31/2024 |  | LXP Amount Funded as of 12/31/2024(1)
Consolidated: |  |  |  |  |  |  |  |
Reems & Olive (95.5%) |  | Phoenix, AZ |  | 315 |  | $ | 75,324 |  |  | $ | 74,175 |
Mt. Comfort Phase II (80%) |  | Indianapolis, IN |  | 116 |  | 5,771 |  |  | 4,658 |
ATL Fairburn (100%) |  | Atlanta, GA |  | 14 |  | 1,732 |  |  | 1,768 |
|  |  |  | 445 |  | $ | 82,827 |  |  | $ | 80,601 |
(1)Excludes noncontrolling interests' share.
Schedule of Below Market Lease, Future Amortization Income | The estimated accretion for the next five years:
Years ending December 31, |  | Estimated Accretion
2025 |  | $ | 2,568 |
2026 |  | 1,215 |
2027 |  | 969 |
2028 |  | 681 |
2029 |  | 681 |
|  | $ | 6,114 |
Schedule Of Acquired Properties | The Company acquired or completed and placed into service the following assets during 2024 and 2023: 2024:
| Market (% owned) | Acquisition/ Placed in Service Date | Initial Cost Basis (1) | Primary Lease Expiration | Land |  | Building and Improvements |  | Lease in-place Value Intangible |  |
| Phoenix, AZ (100%) | February 2024 | $ | 52,767 |  | 01/2031 | $ | 9,449 |  |  | $ | 43,318 |  |  | $ | — |  |  |
| Central Florida (80%) (2) | February 2024 | 80,825 |  | N/A | 10,618 |  |  | 70,207 |  |  | — |  |  |
| Indianapolis, IN (80%) (2) | February 2024 | 64,285 |  | N/A | 5,126 |  |  | 59,159 |  |  | — |  |  |
| Greenville/Spartanburg, SC (90%) (2) | April 2024 | 73,414 |  | N/A | 6,765 |  |  | 66,649 |  |  | — |  |  |
| Central Florida (100%) (2) | June 2024 | 19,021 |  | N/A | 4,493 |  |  | 14,528 |  |  | — |  |  |
| Central Florida (100%) (3) | July 2024 | 12,401 |  | N/A | 2,752 |  |  | 9,649 |  |  | — |  |  |
| Columbus, OH (100%) | August 2024 | 23,879 |  | 10/2029 | 3,113 |  |  | 20,766 |  |  | — |  |  |
| Savannah, GA (100%) | October 2024 | 34,267 |  | 01/2034 | 5,612 |  |  | 25,602 |  |  | 3,053 |  |  |
| Atlanta, GA (100%) | November 2024 | 47,897 |  | 08/2027 | 2,728 |  |  | 41,180 |  |  | 3,989 |  |  |
| Atlanta, GA (100%) | November 2024 | 30,238 |  | 05/2029 | 2,378 |  |  | 25,861 |  |  | 1,999 |  |  |
| Houston, TX (100%) | November 2024 | 45,202 |  | 02/2034 | 6,084 |  |  | 28,526 |  |  | 10,592 |  |  |
| Greenville/Spartanburg, SC (100%)(4) | December 2024 | 66,324 |  | 12/2036 | 3,163 |  |  | 63,161 |  |  | — |  |  |
|  |  | $ | 550,520 |  |  | $ | 62,281 |  |  | $ | 468,606 |  |  | $ | 19,633 |  |  |
| Weighted-average life of intangible assets (years) |  |  |  |  |  | 7.3 |  |
(1)Initial basis excludes certain remaining costs, such as tenant improvements, lease costs and developer incentive fees or partner promotes, if any. (2)The facility was placed in service vacant one year after the completion of base building construction in accordance with the Company's policy. (3)During 2024, the remaining portion of the facility, representing 58% of the facility, was placed in service vacant one year after the completion of base building construction. During 2023, a 57,690 square foot portion of the facility, representing 42% of the facility, was occupied by a tenant and placed into service. (4)During 2024, the Company acquired a 59.1-acre land parcel for a purchase price of $3,416 and commenced construction of a build-to-suit facility subject to a 12-year lease, which was occupied by the tenant and placed into service in December 2024. In addition, during 2024, the Company acquired the fee interest in the land underlying its previously ground leased asset in Orlando, Florida and an additional land parcel with a 145,974 square foot tenant-constructed expansion for $7,609. 2023:
| Market (% owned) | Acquisition/ Placed in Service Date | Initial Cost Basis | Primary Lease Expiration | Land |  | Building and Improvements |  |  |  |  |
| Phoenix, AZ (100%)(1) | March 2023 | $ | 37,173 |  | 08/2033 | $ | 7,552 |  |  | $ | 29,621 |  |  |  |  |  |
| Dallas, TX (100%) | July 2023 | 15,018 |  | N/A | 2,100 |  |  | 12,918 |  |  |  |  |  |
| Columbus, OH (100%)(1) | October 2023 | 64,524 |  | 10/2033 | 6,536 |  |  | 57,988 |  |  |  |  |  |
| Greenville/Spartanburg, SC (100%)(1) | October 2023 | 21,676 |  | 02/2029 | 1,795 |  |  | 19,881 |  |  |  |  |  |
| Central Florida (100%)(1)(2) | December 2023 | 7,985 |  | 01/2029 | 1,961 |  |  | 6,024 |  |  |  |  |  |
|  |  | $ | 146,376 |  |  | $ | 19,944 |  |  | $ | 126,432 |  |  |  |  |  |
(1)Initial basis excludes certain remaining costs, such as tenant improvements, lease costs and developer incentive fees or partner promotes, if any. (2)Represents a portion of the Central Florida development project placed into service.

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- Definition Tabular disclosure of the amount of amortization income expected to be recorded in succeeding fiscal years for leases acquired as part of a real property acquisition at below market lease rate with a finite life. + References No definition available. + Details
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