CHICAGO--(BUSINESS WIRE)--DCT Industrial Trust Inc.® (NYSE: DCT), a leading industrial real estate company, announced today that in Chicago, since Q2 2014, it has acquired two buildings, totaling 878,000 square feet, and a 6.9 acre land parcel for its development program.
The first building, a 650,000-square-foot modern Class A facility, is located in the heart of the I-55 Corridor submarket and is 100 percent occupied. The second building, a 228,000-square-foot distribution facility, is a value-add acquisition located in the O’Hare submarket. The building is currently 6 percent occupied and will undergo extensive renovations while being actively marketed for lease.
Additionally, the Company purchased a 6.9-acre land parcel in the O’Hare submarket and plans to develop DCT O’Hare Logistics Center, a 112,000-square-foot building. Construction is expected to commence in Q4 2014.
“These assets offer DCT an excellent opportunity to expand its presence in two critical Chicago submarkets,” said Brian Roach, Regional Vice President, DCT Industrial. “Our ability to create immediate value through a 650,000-square-foot stabilized acquisition, a 228,000-square-foot value-add acquisition and a 112,000-square-foot development speaks to the strength and versatility of our Chicago team in a highly-competitive environment.”
These acquisitions bring DCT Industrial’s Chicago consolidated portfolio to 9.2 million square feet, with 2.1 million square feet of that total acquired in 2014.
For leasing information on DCT Industrial’s properties and investment opportunities in the Chicago market, please contact Brian Roach at firstname.lastname@example.org or at 630-560-5000.
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. As of June 30, 2014, the Company owned interests in approximately 74.0 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.
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