DCT Industrial Trust Inc. Leases 641,000 Square Feet in Chicago

April 29, 2010

DENVER, April 29 /PRNewswire-FirstCall/ — DCT Industrial Trust Inc.® (NYSE: DCT), a leading industrial real estate owner, operator and developer, today announced it has signed leases totaling 641,000 square feet in the Chicago market, which will bring DCT Industrial’s Chicago portfolio to 90% occupied.

“Activity in the Chicago market has increased recently and we are starting to see a slight increase in customer demand,” said Brian Roach, Vice President for DCT Industrial. ”Our local relationships and high-quality Chicago portfolio positions us well to increase our market share as the local economy recovers throughout 2010.”

The leasing activity in Chicago is comprised of three new customers signing long-term leases for existing bulk distribution properties.

In the largest new lease, DCT Industrial fully leased a recently re-developed 439,000 square foot bulk distribution facility to one of the world’s leading providers of freight consolidation services. Located at 250 South Gary Avenue in the Central DuPage industrial submarket, the customer selected DCT Industrial’s facility for the in-fill Chicago location and close proximity to the cargo entrance at Chicago O’Hare International Airport.

Roberto Perez of Hilco Real Estate and Geoffrey Eusth of U.S. Equities represented the customer, and John Cash, Steve Connolly, and David Haigh of NAI Hiffman represented DCT Industrial in the transaction.

Laser Technologies, Inc., one of the largest laser cutting production operations in the U.S., fully leased a 159,000 square foot bulk distribution facility in Naperville, IL. The facility, located at 1120 Frontenac Road, will serve as a production center for laser cutting, stamping, fabrication and other services provided by Laser Technologies.

Manufactured Specialties, Inc. (MSI) has leased 42,900 square feet at 3575 Stern Avenue in the St. Charles Industrial Park. MSI distributes piping and pipe fitting products and the Stern Avenue location will serve as their new headquarters as they expand their business. This facility was also recently re-developed.

Michael Marconi of Newmark Knight Frank Epic assisted both Laser Technologies and MSI on these lease transactions. David Friedland of Newmark Knight Frank Epic assisted DCT Industrial on the Laser Technologies lease.

About DCT Industrial Trust Inc.®

DCT Industrial Trust Inc. (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 810 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 Inc.

Posted by NAI Hiffman | Filed Under General Business, Industrial, Media Coverage

NAI Hiffman Releases 1Q10 Market Reports

April 21, 2010

Industrial Report	Office Report

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NAI Hiffman is pleased to present its first quarter 2010 industrial and office market reports detailing recent trends, significant transactions and the outlook for the Chicago Metropolitan office and industrial real estate markets. Click on the images or the links above to download the reports.

If you have any questions about the market or have any commercial real estate needs, please contact us at 630 932 1234.

Posted by NAI Hiffman | Filed Under General Business, Industrial, Market Reports, Office

Financial firm in deal to buy 29 N. Wacker

April 21, 2010

(Crain’s) — A financial services company that has tried to raise its profile with KC and the Sunshine Band is getting into the downtown office market with the purchase of a boutique building on Wacker Drive.

Toronto-based Sun Life Financial Inc., which has featured the ’70s disco band in television ads, has agreed to buy 29 N. Wacker Drive from Boston-based investment firm Intercontinental Real Estate Corp., according to people familiar with the transaction.

The price is about $130 a square foot, or $16.9 million, for the 129,792-square-foot building, those sources say. That’s 7% less than the $18.2 million Intercontinental paid for the 10-story structure in 2001, a sign of how property values have fallen as vacancy rates have risen since the recession.

A spokeswoman for the Wellesley Hills, Mass.-based U.S. subsidiary of Sun Life declines to comment.

Oakbrook Terrace-based real estate firm NAI Hiffman has been advising Sun Life on the purchase of the building and is expected to take over management once the sale is completed. Hiffman already manages for Sun Life the Oakmont Corporate Center I and II in west suburban Westmont, which total 192,120 square feet, and a small flex manufacturing building in Schaumburg. (Read the full story on ChicagoRealEstateDaily.com)

Posted by NAI Hiffman | Filed Under Asset Management, Office, Sale

Northstar Aerospace Renews 204k SF Lease

April 21, 2010

Northstar Aerospace has renewed its lease for 204k-SF of industrial space at 6066 W. 73rd St. in Bedford Park. NAI Hiffman’s Lawrence R. Much, Stephen J. Connolly, and Kelly Disser represented the landlord, American Realty Advisors, a California-based institutional owner. CBRE’s Larry Johnson and Mike Mangan represented Northstar Aerospace.

Source: Bisnow

Posted by NAI Hiffman | Filed Under General Business, Industrial, Lease

NAI Hiffman negotiates OKAYA USA purchase of Illinois office building

April 15, 2010

OKAYA USA, Inc., the US affiliate of the Japan-based import-export company OKAYA & Co., Ltd., has purchased a 23,910-square-foot office building in Arlington Heights, Ill.

The building, which will serve as the company’s North American Headquarters, sits on a 1.4-acre property located at 64 W. Seegers Road. OKAYA USA will move its headquarters from Paramus, N.J., to the Arlington Heights location in May of 2010.

Daniel O’Neill, executive vice president, and Garrett Schultz, associate, with NAI Hiffman’s Office Services Group, and Tak O’Haru of WHITE CUBE Commercial Real Estate Solution Services, represented OKAYA USA, Inc.

REJournals.com

Posted by NAI Hiffman | Filed Under General Business, Office, Sale

Dr. Linneman Delivers 1st Q Global Economic Outlook

April 13, 2010

Join NAI Global’s Chief Economist Dr. Peter Linneman for 60 minutes as he discusses the economic recovery, the big lessons we’ve learned over the last 10 years, when jobs will return, why 2010 is a point of inflection for commercial real estate, and why inflation is the big wildcard.LISTEN NOW

Posted by NAI Hiffman | Filed Under General Business, NAI Global