DCT Industrial Trust Inc
), a real estate investment trust (REIT), has recently completed
the acquisition of a portfolio of four industrial assets in
Chicago and Los Angeles. The properties were purchased from an
unnamed seller for an undisclosed amount.
DCT INDUSTRIAL (DCT): Free Stock Analysis
DUKE REALTY CP (DRE): Free Stock Analysis
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The assets spanning 563,000 square feet are currently 99.6%
occupied by eight tenants. This transaction is in line with DCT
Industrial's ploy of strengthening its presence in key markets.
Three of the acquired facilities are located in the Los Angeles
International Airport submarket and the other in the Chicago
O'Hare International Airport submarket.
Since June 30, 2012, DCT Industrial has acquired eight buildings
for $41.3 million with two in the third quarter of 2012 and six
in October. The company has been very active on
acquisitions, thereby enhancing the overall quality of its
DCT Industrial 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. It serves companies on a national and
local level and across a broad range of industries such as
medical, consumer products, online retail, logistics and the
manufacturing sector besides the government.
As of September 30, 2012, the company owned interests in, managed
or had under development approximately 75.2 million square feet
of properties, which have been leased to more than 840 customers.
These included 16.7 million square feet of properties managed on
behalf of five institutional management partners.
DCT Industrial currently retains a Zacks #3 Rank, which
translates into a short-term Hold rating. We have a
long-term Neutral recommendation on the stock. One of its
Duke Realty Corp
) also holds a Zacks #3 Rank.