DCT Industrial Trust® Announces Record Leasing of 4.6 Million Square Feet in the Fourth Quarter 2010

DENVER, Jan. 6, 2011 /PRNewswire/ -- DCT Industrial Trust Inc.® (NYSE: DCT), a leading industrial real estate owner, operator and developer, today announced that it has signed leases totaling 4.6 million square feet in the quarter ended December 31, 2010, the highest quarterly leasing activity in the company's history.  Leases signed for all 2010 totaled 13.3 million square feet.

Occupancy in the operating pool as of year-end was 88.5%, an increase of 160 basis-points from September 30, 2010.  Including development properties, occupancy increased 280 basis-points to 87.1% at the end of the quarter from 84.3% as of September 30, 2010.  

"We are extremely pleased with our fourth quarter leasing activity and our third consecutive quarter of occupancy gains in our portfolio," said Phil Hawkins, President and CEO of DCT Industrial. "Customer demand is strengthening along with the overall economy and we are encouraged that a market recovery has clearly begun although in the early stages."

The leasing activity in the fourth quarter is comprised of 2.8 million square feet of renewal leases, almost 1.5 million square feet of new and expansion leases and 0.3 million square feet of development leases.

About DCT Industrial Trust Inc. ®

DCT Industrial Trust is a leading industrial real estate company that owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico.  The Company owns, manages or has under development 76.6 million square feet of assets leased to more than 830 customers, including 14.6 million square feet managed on behalf of three institutional joint ventures.  Additional information is available at www.dctindustrial.com.

SOURCE DCT Industrial Trust Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED