DCT Industrial Trust® Acquires 301,000 Square Foot Building in Northwest Submarket of Cincinnati
October 06 2016 - 4:10PM
Business Wire
DCT Industrial Trust ® (NYSE: DCT), a leading industrial real
estate company, today announced the acquisition of a 301,000 square
foot building located in the Northwest submarket of Cincinnati. The
building was acquired in an off-market transaction and was 60
percent occupied upon acquisition.
“We are very excited about the addition of this building to our
Cincinnati portfolio,” said Mike Meyers, DCT Industrial Vice
President, Cincinnati. “It was our team’s ability to act quickly
and decisively that allowed us to acquire this exceptional asset in
an off-market value creating transaction.”
The vacant portion of the building is currently being marketed
for lease by Mike Lowe and Doug Whitten of CBRE.
“We are looking forward to working with DCT to lease the
remaining 121,000 square feet of the building,” said Doug Whitten,
CBRE First Vice President. “In addition to being a very functional
space with ESFR sprinklers and 24’ to 28’ clear height, there is
excess acreage adjacent to the building that could be used for
expansion, additional trailer parking or outside storage.”
Cincinnati continues to be one of the tightest industrial
markets in the country with a current vacancy rate of 4.7%,
according to CBRE Research.
For information on leasing and other DCT Industrial properties
and investment opportunities in the Cincinnati market, please
contact Mike Meyers at mmeyers@dctindustrial.com.
About DCT Industrial Trust
Inc.®
DCT Industrial is a leading industrial real estate company
specializing in the ownership, 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,
2016, the Company owned interests in approximately 72.0 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.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500
company headquartered in Los Angeles, is the world’s largest
commercial real estate services and investment firm (in terms of
2015 revenue). The Company has more than 70,000 employees
(excluding affiliates), and serves real estate owners, investors
and occupiers through more than 400 offices (excluding affiliates)
worldwide. CBRE offers strategic advice and execution for property
sales and leasing; corporate services; property, facilities and
project management; mortgage banking; appraisal and valuation;
development services; investment management; and research and
consulting. Please visit our website at www.cbre.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161006005952/en/
DCT Industrial Trust Inc.Melissa Sachs,
303-597-2400investorrelations@dctindustrial.com
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