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DCT Industrial Trust Announces Asset Sales of $64.5 Million in Dallas (PR Newswire)

Mon, 16 Jun 2008 12:30:00 Etc/GM

DENVER, June 16 /PRNewswire-FirstCall/ -- DCT Industrial Trust Inc. (NYSE: DCT - News), a leading industrial real estate investment trust, today announced that it has sold three stabilized operating assets in the Dallas area for a combined price of $64.5 million in two separate transactions, bringing year-to-date dispositions to greater than $70 million.

The buildings total 1.1 million square feet and were 100% leased at the time of sale. Two of the buildings are located in the Dallas Fort Worth Airport submarket and the third building is in Pinnacle Park, which is in close proximity to the Dallas Central Business District.

"We were extremely pleased with the level of interest our Dallas assets received," commented Teresa Corral, Senior Vice President of Fund Management and Dispositions for DCT Industrial. "The strategic sale of these three operating properties further strengthens the Company's financial position for redeployment into growth opportunities."

Jack Fraker of CB Richard Ellis represented DCT Industrial in the Dallas transactions.

About DCT Industrial Trust

DCT Industrial Trust Inc. 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 March 31, 2008, the Company owned, managed or had under development 76.9 million square feet of assets leased to approximately 850 corporate customers, including 12.1 million square feet managed on behalf of three institutional joint venture partners. Additional information is available at www.dctindustrial.com.


source: http://biz.yahoo.com/prnews/080616/clm049.html?.v=101

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