DCT Industrial Trust Inc.® Acquires Two Buildings Totaling 878,000 Square Feet and a 6.9 Acre Land Parcel in Chicago
September 11 2014 - 4:10PM
Business Wire
DCT Industrial Trust Inc.® (NYSE: DCT), a leading industrial
real estate company, announced today that in Chicago, since Q2
2014, it has acquired two buildings, totaling 878,000 square feet,
and a 6.9 acre land parcel for its development program.
The first building, a 650,000-square-foot modern Class A
facility, is located in the heart of the I-55 Corridor submarket
and is 100 percent occupied. The second building, a
228,000-square-foot distribution facility, is a value-add
acquisition located in the O’Hare submarket. The building is
currently 6 percent occupied and will undergo extensive renovations
while being actively marketed for lease.
Additionally, the Company purchased a 6.9-acre land parcel in
the O’Hare submarket and plans to develop DCT O’Hare Logistics
Center, a 112,000-square-foot building. Construction is expected to
commence in Q4 2014.
“These assets offer DCT an excellent opportunity to expand its
presence in two critical Chicago submarkets,” said Brian Roach,
Regional Vice President, DCT Industrial. “Our ability to create
immediate value through a 650,000-square-foot stabilized
acquisition, a 228,000-square-foot value-add acquisition and a
112,000-square-foot development speaks to the strength and
versatility of our Chicago team in a highly-competitive
environment.”
These acquisitions bring DCT Industrial’s Chicago consolidated
portfolio to 9.2 million square feet, with 2.1 million square feet
of that total acquired in 2014.
For leasing information on DCT Industrial’s properties and
investment opportunities in the Chicago market, please contact
Brian Roach at broach@dctindustrial.com or at 630-560-5000.
About DCT Industrial Trust
Inc.®
DCT Industrial Trust Inc. is a leading industrial real estate
company specializing in the acquisition, development, leasing and
management of bulk distribution and light industrial properties in
high-volume distribution markets in the U.S. As of June 30, 2014,
the Company owned interests in approximately 74.0 million square
feet of properties leased to approximately 900 customers. DCT
maintains a Baa2 rating from Moody’s Investors Service and a BBB-
from Standard & Poor’s Rating Services. Additional information
is available at www.dctindustrial.com.
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DCT Industrial Trust Inc.Media and Investor
Contact:Melissa Sachs, 303-597-2400VP, Corporate Communications
& Investor Relationsinvestorrelations@dctindustrial.com
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