DCT Industrial Trust Inc.® Acquires Two Properties in Prime Distribution Markets

DENVER, Feb. 1, 2011 /PRNewswire/ -- DCT Industrial Trust Inc.® (NYSE: DCT), a leading industrial real estate company, today announced two acquisitions totaling 519,990 square feet for $26.0 million located in Ridgefield, NJ and Chino, CA.

In New Jersey, DCT Industrial acquired a 330,000 square foot light manufacturing and distribution facility for $17.5 million. The building is located in the Meadowlands submarket which is a central location for servicing New Jersey, New York and New England.  The building was acquired in a sale-leaseback for $53.00 per square foot or approximately 30% to 35% below replacement cost.  The building is fully leased to a single tenant and is expected to generate a year-one cash yield of 9.7%.  During the staged expiration of the existing lease, DCT plans to reposition the building for multi-tenant, bulk distribution use.  This acquisition brings DCT Industrial's portfolio in the New Jersey market to 1.7 million square feet and 87.6% occupied.

Additionally, DCT Industrial acquired a rail-served, bulk industrial building totaling 189,990 square feet in Chino, CA.  Chino is a submarket of the Inland Empire West and is highly desirable due to its proximity to the ports of Los Angeles and Long Beach.  The building, constructed in 1988, was purchased for $8.5 million, or $44.79 per square foot, which is approximately 30% below replacement cost.  DCT Industrial plans to create additional value by repositioning the vacant building, purchased from a former user.  With additional investments exceeding $1.0 million, the Company expects to earn a yield of approximately 7.0% when stabilized.  This acquisition brings DCT Industrial's Southern California portfolio to 3.7 million square feet and 94.1% occupied.

"With the addition of these buildings, we are continuing our focus on purchasing well-located assets to expand our presence in key markets," said Phil Hawkins, President and CEO of DCT Industrial. "Both of these attractive acquisitions provide an opportunity for us to add value through repositioning the buildings and applying our local leasing expertise."

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.  As of December 31, 2010, the Company owned, managed or had under development 76.3 million square feet of assets leased to more than 840 customers, including 14.6 million square feet managed on behalf of three institutional joint venture partners.  Additional information is available at www.dctindustrial.com.

SOURCE DCT Industrial Trust Inc.