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Investments in Real Estate (Tables) | 3 Months Ended
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Mar. 31, 2025
Real Estate [Abstract] |
Schedule of Real Estate Properties | As of March 31, 2025, the details of the development arrangements outstanding are as follows (in $000's, except square feet):
Project (% owned) | # of Buildings | Market | Estimated Sq. Ft. | Estimated Project Cost | GAAP Investment Balance as of 3/31/2025(1) | LXP Amount Funded as of 3/31/2025(2) | Estimated Base Building Completion Date | % Leased as of 3/31/2025
Redevelopment Project |  |  |  |  |  |
Richmond (100%)(3) | 1 | Richmond, VA | 252,351 |  | $ | 4,700 |  | $ | 11,119 |  | $ | — |  | 1Q 2026 | — | %
Land Infrastructure Improvements |  |  |  |  |  |
Reems & Olive (95.5%)(4) | N/A | Phoenix, AZ | N/A | 11,459 |  | 6,381 |  | 7,036 |  | N/A | N/A
|  |  | 252,351 |  | $ | 16,159 |  | $ | 17,500 |  | $ | 7,036 |  |  |
(1) Excludes leasing costs, incomplete costs, and developer incentive fees or partner promotes, if any. (2) Excludes noncontrolling interests' share. (3) During the first quarter, the tenant vacated the building, which is part of a four building integrated campus, and the Company began redeveloping the property into a standalone warehouse and distribution facility. (4) Represents infrastructure development costs to prepare the land for vertical development. As of March 31, 2025, the details of the land held for industrial development are as follows (in $000's, except acres):
Project (% owned) |  | Market |  | Approx. Developable Acres |  | GAAP Investment Balance as of 3/31/2025 |  | LXP Amount Funded as of 3/31/2025 (1)
Reems & Olive (95.5%) |  | Phoenix, AZ |  | 315 |  | $ | 75,327 |  |  | $ | 74,188 |
Mt. Comfort Phase II (80%) |  | Indianapolis, IN |  | 116 |  | 5,861 |  |  | 4,661 |
ATL Fairburn JV (100%) |  | Atlanta, GA |  | 14 |  | 1,732 |  |  | 1,768 |
|  |  |  | 445 |  | $ | 82,920 |  |  | $ | 80,617 |
(1) Excludes noncontrolling interests' share.

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- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
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