CINCINNATI--(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 firstname.lastname@example.org.
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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