“We are very excited about the addition of this building to our Cincinnati portfolio,” said Mike Meyers, DCT Industrial vice president, Cincinnati. “It was our team’s ability to act quickly and decisively that allowed us to acquire this exceptional asset in an off-market value creating transaction.”
CBRE’s Mike Lowe and Doug Whitten will market the vacant portion of the building for lease.
“We are looking forward to working with DCT to lease the remaining 121,000 square feet of the building,” said CBRE’s Whitten, first vice president. “In addition to being a very functional industrial space with ESFR sprinklers and 24’ to 28’ clear height, there is excess acreage adjacent to the vacant space that could be used for possible expansion, additional trailer parking or outside storage.”
Cincinnati continues to be one of the tightest industrial markets in the country, according to CBRE Research. During Q3 2016, the vacancy rate was 4.7 percent, up slightly from 4.1 percent in Q2 2016.
For information on leasing and other DCT Industrial properties and investment opportunities in the Cincinnati market, please contact Mike Meyers at mmeyers@dctindustrial.com.
To request an interview with a CBRE professional, please contact Joe Ludwig at +1 513 369 1305 or joe.ludwig@cbre.com.
About DCT Industrial Trust, Inc.®
DCT Industrial is a leading industrial real estate company specializing in the ownership, acquisition, development, leasing and management of bulk-distribution and light-industrial properties in high-volume distribution markets in the U.S. As of June 30, 2016, the Company owned interests in approximately 72.0 million square feet of properties leased to approximately 900 customers. DCT maintains a Baa2 rating from Moody’s Investors Service and a BBB- from Standard & Poor’s Rating Services. Additional information is available at www.dctindustrial.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.