Phelan Development Company Team to Join DCT Industrial Trust Inc.

DENVER, March 31 /PRNewswire-FirstCall/ -- DCT Industrial Trust Inc.® (NYSE: DCT), a leading industrial real estate company, today announced the addition of Jeff Phelan and the Southern California office of Phelan Development Company.  Phelan Development is a privately held real estate company headquartered in Southern California and further increases DCT Industrial's presence in the region.  Jeff Phelan, founder of Phelan Development, joins DCT Industrial as the national President of Development and as Managing Director for the Southern California region.        

The addition of Phelan and his team, including Jeff's partner at Phelan Development, Dan Floriani, who will lead leasing and investing activities, further strengthens DCT Industrial's operating platform in Southern California.  The joining of the organizations enables the company to internalize the management of the Southern California portfolio and grow its value-add, build-to-suit and development business across the company's other key markets in the United States.

"Jeff is one of the leading real estate executives in Southern California and brings significant knowledge, expertise and deep relationships to DCT Industrial," said Phil Hawkins, President and CEO of DCT Industrial.  "The addition of Jeff and his talented team will considerably strengthen DCT Industrial's investment, leasing and operating platform.  As we prepare for the next phase of growth, bringing our organizations together creates synergies and operating capabilities to further serve the needs of our customers."

Jeff Phelan has nearly 30 years of real estate experience and has developed over 20 million square feet of industrial, office and retail properties.  In addition, he has extensive experience in build-to-suit and value-add redevelopment.  Most recently, Phelan founded Phelan Development Company, a privately held real estate company headquartered in Southern California led by a highly skilled team that has developed and managed millions of square feet of commercial property.

Prior to founding Phelan Development, Phelan was a senior partner at Panattoni Development Company and held previous positions with leading real estate groups in the United States and internationally.  

About DCT Industrial Trust Inc.®

DCT Industrial Trust Inc. (NYSE: DCT) 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, 2009, the Company owned, managed or had under development 75.4 million square feet of assets leased to approximately 810 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