DCT Industrial Trust Inc.® (NYSE: DCT), a leading industrial real estate company, announced today that it has executed a 401,000 square foot long-term lease at DCT 55 in Romeoville, Illinois. DCT 55 is a new 604,000 square foot, Class-A, LEED certified facility within the southern I-55 industrial submarket of Chicago. The tenant, a publicly traded international manufacturer of paints and coatings, is expected to take occupancy in the fourth quarter.
“DCT 55 is in one of the most desirable distribution areas in Chicago, with favorable supply dynamics for buildings of its size. We are thrilled to have found the perfect anchor customer,” said Brian Roach, Regional Vice President of DCT Industrial. “In addition, given strong tenant demand and the building’s state-of-the-art design, we feel confident about leasing the balance of the building.”
In addition to the DCT 55 lease, DCT Industrial announced a 102,000 square foot lease for the entire redevelopment project at 2567 Greenleaf in Elk Grove Village, IL as well as a 152,000 square foot lease for the remaining balance of its value-add project at 785 Center Street in Carol Stream, IL.
“Over the last year, DCT has acquired 1.7 million square feet and developed or redeveloped an additional 706,000 square feet in the Chicago market, bringing the Company’s total portfolio to 7.8 million square feet, an increase of 31.7 percent,” said Neil Doyle, DCT’s Managing Director of the Central Region. “During the same timeframe, we have leased 1.6 million square feet, bringing our Chicago portfolio to 94.6 percent leased. In a highly competitive market like Chicago, this progress has exceeded our expectations and is a true credit to Brian and his team.”For leasing information on DCT Industrial’s properties and investment opportunities in the Chicago market, please contact Brian Roach at 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, 2013, the Company owned interests in approximately 74.9 million square feet of properties leased to approximately 870 customers, including 12.3 million square feet operated on behalf of four institutional capital management partners.