You can use the Tandberg for the phono section if you want. Just plug the phono cables into the Tandberg phono input, and use the Tape Out from the Tandberg to a line level input on your Lexicon. That should do it.
A Denon DL 160 would be a nice match for your TT, and very reasonable cost.
A Denon DL 160 would be a nice match for your TT, and very reasonable cost.