Will Eglin, President and CEO LXP Industrial Trust (NYSE: LXP), sat down for a video interview at Nareit’s REITweek: 2024 investor conference, held June 3-6 in New York.
Eglin highlighted LXP’s resilience in a high interest rate environment, citing strong tenant retention and the ability to increase rents despite market pressures. “Our ability to maintain high tenant retention and increase rents reflects our strong market position and strategic portfolio management,” he said.
With a portfolio that’s on average less than 10 years old and more than half of the tenants investment grade, Eglin emphasized LXP’s advantageous position. Looking ahead, he sees significant growth opportunities within his existing portfolio, particularly in terms of organic rent increases and lease extensions.
Additionally, Eglin pointed to potential earnings and EBITDA growth from completing ongoing developments. He noted the importance of leveraging the development pipeline and land bank to enhance shareholder value and pointed to the low valuation by the market of income-producing assets within its portfolio.
