DENVER, Jan. 8 /PRNewswire-FirstCall/ -- DCT Industrial Trust® (NYSE: DCT), a leading industrial real estate owner, operator and developer, today announced that it has signed leases totaling 3.1 million square feet in the quarter ended December 31, 2009. Leases signed for all of 2009 totaled 11.0 million square feet.
"Our leasing activity in 2009 and particularly the fourth quarter has exceeded our expectations," said Phil Hawkins, President and CEO of DCT Industrial. "While the difficult economy of the past year has created many challenges, the expansion of our leasing team with the addition of high-quality professionals in our local markets, has yielded impressive results."
The leasing activity in the fourth quarter is comprised of 2.2 million square feet of renewal leases, almost 750,000 square feet of new or expansion leases and 96,000 square feet of development leases.
The 96,000 square feet of development leases related to two leases in the Orlando distribution market. DCT(TM) leased the 70,400 square foot ADC XI building to Coca-Cola Enterprises Inc. which consolidated several facilities into DCT's project in the Southeast submarket. Coca-Cola Enterprises will use this facility to serve central Florida.
At ADC X in Orlando, Hillenbrand, Inc. leased 25,300 square feet representing a consolidation of operations from Tampa and Orlando to serve the state of Florida in a new facility with upgraded distribution operations in close proximity to their workforce.
The development leasing in Orlando brings the leasing of DCT Industrial's ADC project to 76% leased as of December 31, 2009.
"We are very pleased to have executed 96,000 square feet of new leases in our Orlando development projects," commented Todd Carter, Vice President for DCT Industrial. "The long-term market fundamentals and our excellent locations make Orlando an attractive business environment for us and our customers."
Robert Farrar of Robert Farrar & Associates and Lisa Bailey of Morrison Commercial Realty represented Coca-Cola Enterprises. Ray Romano of CBRE represented Hillenbrand, Inc. Moses Salcido and Tom McFadden of Southern Commercial Real Estate Advisors represented DCT Industrial on these transactions.
About DCT Industrial Trust Inc.
DCT Industrial Trust (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 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