DCT Industrial Trust Inc. ® (NYSE: DCT), a leading industrial real estate company, today announced it is under contract to purchase a four asset portfolio totaling 563,000 square feet.
The Class A, state-of-the-art air freight buildings are ideally located with three facilities in the Los Angeles International Airport submarket and one in the Chicago O’Hare International Airport submarket. Both submarkets are prime distribution locations and are known for their low vacancy rates. The portfolio is currently 99.6 percent occupied by eight tenants.
“We are very pleased to be one step closer to adding these exceptional buildings to our portfolio,” said Phil Hawkins, President and CEO for DCT Industrial Trust. “These extremely well-located and irreplaceable assets continue our focus of expanding and upgrading our presence in key markets.”
The Company’s deposit on the four buildings went non-refundable in August of 2012 and is subject only to the loan assumption and standard closing conditions. The off-market transaction is anticipated to close in the fourth quarter of 2012.This acquisition will bring DCT Industrial’s Southern California total consolidated portfolio to 4.5 million square feet and 99.7 percent occupied and the Company’s Chicago total consolidated portfolio to 4.1 million square feet and 96.3 percent occupied. For leasing information on DCT Industrial’s properties in the Southern California market, please contact Bud Pharris at 949-720-8000 or email@example.com. For leasing information on DCT Industrial’s properties in the Chicago market, please contact Brian Roach at 773-882-9376 or firstname.lastname@example.org. 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. and Mexico. As of June 30, 2012, the Company owned interests in approximately 76.0 million square feet of properties leased to approximately 900 customers, including 17.0 million square feet operated on behalf of five institutional capital management partners. Additional information is available at www.dctindustrial.com.