DCT Industrial Trust Inc. ® (NYSE: DCT), a leading industrial real estate company, today announced financial results for the quarter ending March 31, 2014. “DCT’s first quarter was a good start to 2014. We signed leases totaling 4.4 million square feet, including 1.4 million square feet of new leases, with rent growth of 15.1 percent on a GAAP basis and 5.7 percent on a cash basis,” said Phil Hawkins, Chief Executive Officer of DCT Industrial. “We also closed on $49.7 million of acquisitions since January 1 and our market teams have built a promising pipeline of additional deployment opportunities.” Funds from operations, as adjusted, attributable to common stockholders and unitholders (“FFO”) for Q1 2014 totaled $39.0 million, or $0.11 per diluted share, compared with $33.3 million, or $0.11 per diluted share, for Q1 2013. These results exclude $0.7 million and $0.4 million of acquisition costs for the quarters ending March 31, 2014 and 2013, respectively. Net income attributable to common stockholders for Q1 2014 was $0.3 million, or $0.00 per diluted share, compared to $1.3 million, or $0.00 per diluted share, reported for Q1 2013. Property Results and Leasing Activity As of March 31, 2014, DCT Industrial owned 405 consolidated operating properties, totaling 63.8 million square feet, with occupancy of 92.8 percent, a decrease of 50 basis points over Q4 2013 and an increase of 10 basis points over Q1 2013. On a same-portfolio basis, consolidated operating occupancy would have been 93.4 percent; however, the impact of acquisitions and placing developments and redevelopments into operations during the quarter brought occupancy down 60 basis points. In addition, approximately 860,000 square feet, or 1.3 percent of DCT Industrial’s total consolidated portfolio, was leased but not occupied at March 31, 2014. In Q1 2014, the Company signed leases totaling 4.4 million square feet with rental rates increasing 15.1 percent on a GAAP basis and 5.7 percent on a cash basis, compared to the corresponding expiring leases. Over the previous four quarters, rental rates on signed leases increased 9.4 percent on a GAAP basis and 0.8 percent on a cash basis. The Company’s tenant retention rate was 80.8 percent in Q1 2014.