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Weighted Average Lease Term
Longer weighted average lease term means more predictable rental income and less near-term rollover risk, giving management time to benefit from built-in rent escalations; a shorter WALT raises the risk of vacancies and the need to re-lease space at current market rates.Weighted average lease term has meaningfully shortened, concentrating expirations and rollover risk into the near term; that raises cash‑flow volatility but also creates outsized mark‑to‑market upside if leasing holds. Management has already addressed a large portion of 2026 expirations with ~25% average cash rent increases and strong large‑format demand, and healthy liquidity/FFO guidance provide a cushion—but with ~1.8M sq ft vacancy, known H2 move‑outs and 5.1x leverage, execution on renewals and new leases will determine whether this trend boosts returns or pressures FFO.
Date | Weighted Average Lease Term |
|---|---|
Jun 30, 2026 | 4.70 |
Mar 31, 2026 | 4.70 |
Dec 31, 2025 | 4.80 |
Sep 30, 2025 | 4.90 |
Jun 30, 2025 | 5.10 |
Mar 31, 2025 | 5.30 |
Dec 31, 2024 | 5.40 |
Sep 30, 2024 | 5.60 |
Jun 30, 2024 | 5.80 |
Mar 31, 2024 | 5.80 |