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Exhibit 10.10

EXCLUSIVITY SERVICES AGREEMENT

EXCLUSIVITY SERVICES AGREEMENT, dated as of November 7, 2005 (this “Agreement”), between NEWKIRK REALTY TRUST, INC., a Maryland corporation (the “Company”) and MICHAEL L. ASHNER (“Ashner”), an individual.

RECITALS

WHEREAS, pursuant to that certain Exclusivity Services Agreement, dated as of December 31, 2003, between First Union Real Estate Equity and Mortgage Investments, an Ohio business trust (“First Union”), and Ashner (the “First Union Agreement”), Ashner agreed, subject to certain conditions, to offer to First Union all Business Opportunities (as defined in the First Union Agreement) offered to him during the period that he is serving either as an executive officer of First Union or as a member of the Board of Trustees of First Union;

WHEREAS, pursuant to that certain Acquisition Agreement, dated of even date herewith, between the Company and First Union (the “Acquisition Agreement”), simultaneously herewith First Union is assigning to the Company all of its right, title and interest under the First Union Agreement solely with respect to Business Opportunities related to Net Lease Assets (as defined in the Acquisition Agreement);

WHEREAS, it is a condition to the Company entering into the Acquisition Agreement that Ashner confirm the assignment provided for in the Acquisition Agreement and enter into this Agreement;

NOW THEREFORE, in consideration of the foregoing and mutual provisions and agreements contained herein, the parties hereto agree as follows:

Article I

Confirmation of Assignment

Section 1.1 Confirmation of Assignment . Ashner hereby consents to the assignment provided for in the Acquisition Agreement and agrees to be bound by the terms of the First Union Agreement as in effect on the date hereof.

Section 1.2 No Modification . Ashner covenants and agrees that he will not consent to any amendment or modification of the First Union Agreement to the extent such amendment or modification would relieve Ashner of his obligations to offer all Business Opportunities as they relate to Net Lease Assets in accordance with the terms of the First Union Agreement without the prior written consent of the Company.

Section 1.3 Representations and Warranties . Ashner represents and warrants to the Company that:

(i) He had the full power and authority to enter into the First Union Agreement and to consummate the transaction contemplated thereby and has the full

power and authority to enter into this Agreement and consummate the transactions contemplated hereby;

(ii) The First Union Agreement was, and this Agreement has been, duly executed and delivered by Ashner and each such agreement constitutes the legal, valid and binding obligation of Ashner, enforceable in accordance with its terms, except as such enforceability may be subject to the effects of any applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or similar laws affecting creditors’ rights generally and subject to the effects of general equitable principles;

(iii) The rights granted by Ashner to First Union pursuant to the First Union Agreemen

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