DCT Industrial Trust Inc. Announces Denver Acquisition for $6.7M

DCT Industrial Trust Inc.® DCT, today announced it has acquired a 118,000-square-foot building in Denver. In the Denver Central submarket, DCT Industrial acquired 5330 Pecos Street, a well-located bulk distribution building. The building was acquired for $6.7 million or $56.48 per square foot, approximately 20-25 percent below replacement cost. The Company anticipates a year-one cash yield of 7.9 percent. The building is ideally located with access to major interstates serving Denver, the Rocky Mountain region and Denver International Airport. The multi-tenant facility was constructed in 2003 and is a rear loaded, highly functional distribution building that is currently 100 percent occupied. This acquisition brings DCT Industrial's Denver portfolio to 1.1 million square feet.