DCT Industrial Trust Inc.®Announces Continued Growth in Houston
Acquired a 11 Acre Land Parcel - DCT Beltway Tanner
Commenced Construction on DCT Airtex Industrial Center
Acquired a Two-Building Project near the Port
Leased DCT Northwest 8 Distribution Center
The Company purchased an 11 acre land parcel in the Northwest submarket of Houston. Located along the Sam Houston Parkway, the site has prime Beltway 8 frontage and is well-suited to attract customers requiring high visibility from the highway. The Company plans to commence construction in the first quarter of 2013 on DCT Beltway Tanner Business Park, a 133,000 square foot, rear-load, light-industrial facility. The project is scheduled for completion in the third quarter of 2013.
DCT Industrial also announced the groundbreaking of DCT Airtex Industrial Center, a 267,000 square foot bulk distribution facility in North Houston located along Interstate 45. DCT Airtex Industrial Center is slated for completion in the third quarter of 2013.
"These projects are in line with DCT Industrial's growth strategy as we continue to acquire and develop quality sites in land-constrained submarkets," said Justin E. Bennett, Houston Regional Vice President, DCT Industrial. "Both developments represent excellent locations along two of Houston's primary distribution routes, which offer users superior access and excellent visibility."
In December, the Company acquired a two-building rail-served, industrial property located near the Port of Houston. The portfolio was acquired in an off-market transaction, totaling 313,000 square feet and is currently 100 percent occupied.
Additionally, DCT Industrial's recently completed development project, DCT Northwest 8 Distribution Center, is now 100 percent leased.
Including the completion of the developments listed above, DCT Industrial's Houston portfolio will be 3.60 million square-feet.
For investment, development and leasing information on DCT Industrial's properties in the Houston market, please contact Justin E. Bennett at 832-204-4455 or at email@example.com.
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 September 30, 2012, the Company owned interests in approximately 75.2 million square feet of properties leased to approximately 840 customers, including 16.7 million square feet operated on behalf of five institutional capital management partners. Additional information is available at www.dctindustrial.com.
DCT Industrial Trust Inc.
MEDIA AND INVESTOR CONTACT:
Melissa Sachs, 303-597-2400
VP, Corporate Communications & Investor Relations
KEYWORDS: United States North America Texas
The article DCT Industrial Trust Inc.® Announces Continued Growth in Houston originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.