DENVER, Oct. 1 /PRNewswire-FirstCall/ -- DCT Industrial Trust Inc. , a leading industrial real estate investment trust, today announced its entry into two major markets in Mexico -- Guadalajara and San Luis Potosi. In addition, DCT Industrial has appointed Guillermo Espinosa as Vice President, Capital Deployment for Mexico. Mr. Espinosa is based in Queretaro and brings a great deal of industrial real estate experience in many different regions throughout Mexico.
Tom Wattles, Executive Chairman of DCT Industrial, commented, "Our expansion into Mexico has been a key growth objective for the Company, and I am extremely pleased with the progress we have made so far. We will continue to focus on sourcing development opportunities and the acquisition of high-quality distribution and light manufacturing facilities in our target markets in Mexico."
Guadalajara
DCT Industrial acquired a newly constructed 104,734 square foot state-of-the-art bulk industrial building in the Parque Industrial Guadalajara, which is located in one of Guadalajara's most dynamic industrial areas and fronts on the city's main transportation loop. The property is 100% leased.
"We are excited about our entry into two additional target markets in Mexico," said Jim Cochran, President and Chief Investment Officer of DCT Industrial. "Guadalajara is Mexico's second largest city and is a regional distribution hub benefiting from a diverse manufacturing base, a large labor force, and high-quality public transportation."
San Luis Potosi
DCT Industrial acquired a 69,076 square foot Class A bulk industrial facility in Parque Industrial Logistik, the premier industrial park in San Luis Potosi. The building was developed in 2006 and can be configured for one or two users. Parque Industrial Logistik contains an intermodal terminal and is near the new General Motors plant expected to open in 2008.
Located in the geographic center of Mexico, San Luis Potosi is a key transportation hub, situated equidistant from Mexico City, Guadalajara, and Monterrey, and offering access to international ports on both the Gulf of Mexico and the Pacific coast. The city's status as a transportation center has led to economic growth with a focus on manufacturing, commerce and trade, with several brand name operations there, including Cummins, Nestle, 3M, Goodyear, Penske, DHL, and Scania, among others.
Executive Appointment
Guillermo Espinosa has been appointed as DCT Industrial's Vice President, Capital Deployment for Mexico. Mr. Espinosa brings more than 10 years of experience in industrial real estate in Mexico, most recently as Regional Director for G. Accion, S.A. de C.V., responsible for various business development, leasing and asset management projects.
In addition to his extensive knowledge of the Queretaro region, Mr. Espinosa also has a great deal of experience in Tijuana, including opening G. Accion's regional Baja office. Mr. Espinosa joins Art Barkley, Country Manager -- Mexico, who has been leading DCT Industrial's initiatives in Mexico.
"We are thrilled to welcome Guillermo to the DCT Industrial team," said Phil Hawkins, Chief Executive Officer of DCT Industrial. "With the right personnel in place and 1.0 million square feet owned or contracted under forward commitment in three of Mexico's major industrial markets -- Monterrey, Guadalajara, and San Luis Potosi -- we have more than met our goal of entering Mexico."
About DCT Industrial Trust
DCT Industrial Trust Inc. is a leading real estate company specializing in the ownership, acquisition, development and management of bulk distribution and light industrial properties located in 24 of the highest volume distribution markets in the U.S., and additional markets in Mexico. As of June 30, 2007, DCT Industrial Trust owned, managed or had under development 418 properties totaling more than 67 million square feet leased to more than 780 corporate customers. Further information can be found at http://www.dctindustrial.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, which are usually identified by the use of words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "seeks," "should," "will," and variations of such words or similar expressions. These forward-looking statements reflect DCT Industrial Trust's current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to DCT Industrial Trust and on assumptions it has made. Although DCT Industrial Trust believes that its plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, DCT Industrial Trust can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond its control including, without limitation: the ability to identify and acquire properties on favorable terms, dependence on tenants' financial condition, the uncertainties of real estate development and acquisition activity, the ability to effectively integrate acquisitions, the costs and availability of financing, the effects of local economic and market conditions, regulatory changes and other risks and uncertainties detailed from time to time in DCT Industrial Trust's filings with the Securities and Exchange Commission. DCT Industrial Trust assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
