DENVER, Sept. 20 /PRNewswire-FirstCall/ -- DCT Industrial Trust Inc.
(NYSE: DCT), a leading industrial real estate investment trust, today
announced that it has leased 221,840 square feet in the Inland Empire of
Southern California to Crown Mark Inc., a leading furniture importer based in
Houston, Texas.
Crown Mark will occupy the entire Meyer Canyon building, a bulk
distribution facility recently acquired and redeveloped by DCT Industrial,
located in Fontana, Calif. Crown Mark's lease term is 64 months.
Joseph Ngo, President of Crown Mark, said, "Moving into this building
marks the beginning of our expansion into Southern California. Meyer Canyon's
premier location provides us with direct access to major highways, airports
and ports, which will help ensure our success in the area."
Daryl Mechem, DCT Industrial's Managing Director of Property Operations,
commented, "We're excited to announce Crown Mark as a new customer in one of
the most dynamic markets in the U.S. Leasing activity continues to be
extremely strong in Southern California, validating our decision to increase
our presence there." As of June 30, 2007, DCT Industrial owned 1.4 million
square feet and had almost 3 million square feet under development or
pre-development in Southern California.
Tim O'Rourke and Jackie Baker of The Staubach Company represented Crown
Mark in the transaction and Chuck Belden and Kyle Kehner of Cushman &
Wakefield represented DCT Industrial.
About DCT Industrial Trust
DCT Industrial Trust Inc. is a leading real estate company specializing in
the ownership, acquisition, development and management of bulk distribution
and light industrial properties located in 24 of the highest volume
distribution markets in the U.S. and in Mexico. As of June 30, 2007, DCT
Industrial Trust owned, managed or had under development 418 properties
totaling more than 67 million square feet leased to more than 780 corporate
customers. Further information can be found at http://www.dctindustrial.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the federal securities laws, which are usually identified by the use of
words such as "anticipates," "believes," "estimates," "expects," "intends,"
"may," "plans," "projects," "seeks," "should," "will," and variations of such
words or similar expressions. These forward-looking statements reflect DCT
Industrial Trust's current views about its plans, intentions, expectations,
strategies and prospects, which are based on the information currently
available to DCT Industrial Trust and on assumptions it has made. Although
DCT Industrial Trust believes that its plans, intentions, expectations,
strategies and prospects as reflected in or suggested by those forward-looking
statements are reasonable, DCT Industrial Trust can give no assurance that the
plans, intentions, expectations or strategies will be attained or achieved.
Furthermore, actual results may differ materially from those described in the
forward-looking statements and will be affected by a variety of risks and
factors that are beyond its control including, without limitation: the
ability to identify and acquire properties on favorable terms, dependence on
tenants' financial condition, the uncertainties of real estate development and
acquisition activity, the ability to effectively integrate acquisitions, the
costs and availability of financing, the effects of local economic and market
conditions, regulatory changes and other risks and uncertainties detailed from
time to time in DCT Industrial Trust's filings with the Securities and
Exchange Commission. DCT Industrial Trust assumes no obligation to update
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE DCT Industrial Trust Inc. -
09/20/2007
CONTACT:
Sara Bockh, Corporate Communications, of DCT Industrial Trust
Inc.,
+1-303-597-1550, investorrelations@dctindustrial.com
Web site: http://www.dctindustrial.com