Industrial Real Estate Firms Acquires Commercial Buildings

December 02, 2010 / Elizabeth Buckley, Commercial Property Analyst

A major industrial real estate company, DCT Industrial acquires three commercial buildings in Houston, Chicago, and Seattle. The three commercial buildings add up a total of 332,900 square feet of commercial space.

Industrial Real Estate Firms Acquires Commercial Buildings

One of the commercial buildings acquired by the company is in Houston, Texas. A distribution facility with an area of 51,632 square foot and is located near George Bush Intercontinental Airport.

The property is 100 percent leased to an international logistics and forwarding company.

The property DCT Industrial acquires in Chicago is also 100 percent leased to a single tenant from the packaging industry. It covers and area of 84,730 square feet, and located near the new O’Hare Airport and the Interstate 90 north cargo entrance.

The commercial building in Chicago brings another 3.5 million square feet commercial space to DCT Industrial Trust Inc.

According to CEO and President of DCT Industrial, Phil Hawkins, the company is pleased to its success in acquiring well-located and high quality commercial buildings.

DCT’s third and recently acquired property is in Seattle. A bulk distribution building with an area of 196,525 square foot, and was purchased for $13.2 million.

The Seattle property was constructed in 2006 and is 100 percent leased until 2020, and has a state of the art design.

DCT’s newly and recently acquired commercial buildings are purchased about for $20.2 million.

Currently, the company has acquired about 873,200 square feet or $48.1 million located in high-barrier or coastal markets.

The company’s recently acquired commercial buildings are consistent with its goal in promoting value and growth for DCT.

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