Industrial real estate investment trust (REIT) -
DCT Industrial Trust Inc.
) - disposed its entire Mexico portfolio for $82.7 million. The
disposition comes as part of the company's portfolio
repositioning strategies. The assets were divested to an
investment trust of Macquarie Mexican REIT.
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As a matter of fact, DCT Industrial Trust is aiming to enhance
its business in niche U.S. distribution markets and lower the
number of markets in which it operates. We believe that for this
REIT, the above mentioned move will help reap decent proceeds
that the company can efficiently deploy toward its growth
Recently, the company acquired a 6-building portfolio in the
Chicago area: DCT Fox River Business Center in Elgin. The
portfolio, aggregating 1.1 million square feet, offers room for
DCT Industrial Trust to leverage on the growing market demand for
its facilities in this locality.
Moreover, in recent months the company acquired 45 acres in
Inland Empire West submarket of Southern California, where it
plans to construct a cross-dock distribution facility spanning
approximately 970,000 square foot. Also, DCT Industrial Trust
purchased a 3 building portfolio in the Tempe/Airport submarket
of Phoenix. Spanning 308,000 square feet, the Class-A buildings
have 100% occupancy.
With a larger customer base, an increase in e-Commerce
application and supply chain consolidation, the demand for
logistics infrastructure and efficient distribution networks have
risen in the U.S.
DCT Industrial is poised to benefit from its proficiency in
offering modern distribution facilities through acquisitions and
development projects in strategic infill locations. Hence, the
dispositions help DCT Industrial infuse capital so as to continue
with its efforts to strengthen its base in key markets.
DCT Industrial currently carries a Zacks Rank #4 (Sell). However,
other REITs that are performing well and deserve a look include
Chatham Lodging Trust
Parkway Properties Inc.
Sotherly Hotels Inc.
). All these stocks carry a Zacks Rank #1 (Strong Buy).