The addition of Phelan and his team includes his partner at Phelan Development, Dan Floriani, who will lead leasing and investing activities. The combination, according to DCT, will further strengthen the Denver-based REIT's operating platform in Southern California. DCT is looking to "grow its value-add, build-to-suit and development business across the company's other key markets in the US," the Denver company's president and CEO, Phil Hawkins, said in a prepared statement.
Phelan has nearly 30 years of real estate experience and has developed over 20 million square feet of industrial, office and retail properties. In addition, he has extensive experience in build-to-suit and value-add redevelopment. Before founding Phelan Development, he was a senior partner at Panattoni Development Co. and before that held previous positions with prominent real estate groups in the US and internationally.
DCT Industrial Trust, as of Dec. 31, owned, managed or had under development 75.4 million square feet of assets leased to approximately 810 customers. The total included 14.6 million square feet managed on behalf of three institutional joint venture partners.
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