DENVER, July 9 /PRNewswire-FirstCall/ -- DCT Industrial Trust(R) (NYSE: DCT), a leading industrial real estate investment trust, today announced that it has signed leases totaling 2,430,000 million square feet in the quarter ended June 30, 2009.
The leasing activity is comprised of 616,000 square feet of leases in DCT's development pipeline and 1.8 million square feet of leases signed in the consolidated operating portfolio including 523,000 square feet of new leases or expansions and 1.3 million square feet of tenant renewals.
DCT(TM) development leasing includes a 319,000 square foot lease with a national third party logistics company at Logistics Way. With this lease, the 570,000 facility located in the I-24/Southeast submarket of Nashville is now 100% leased.
DCT(TM) also executed a 231,000 square feet lease in a recently completed 296,000 square foot building at Southern California Logistics Airport (SCLA), DCT's development venture with Stirling in the Inland Empire submarket of Southern California. The lease was signed with an industry leader in the design and manufacturing of high quality plastic rigid containers with operations around the world.
'We are pleased with the leasing progress our team is making,' said Phil Hawkins, CEO of DCT(TM). 'Despite the challenging economy, I am encouraged by the renewal and new tenant leasing results we have been able to achieve in our operating and development portfolios.'
About DCT(TM)
DCT(TM) 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, 2009, the Company owned, managed or had under development 75.9 million square feet of assets leased to approximately 850 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