HOUSTON-In an effort to continue building its Houston presence,DCT Industrial Trust Inc. acquired a class A,two-building industrial property from its developer, CoreReal Estate LLC in an off-market transaction. The97,300-square-foot, 95.8%-occupied asset is being renamed DCTClaymoore Center.
Core Real Estate constructed Claymoore in 2001 at 10780-10798Kempwood Dr. The property consists of a 72,500-square-footdistribution center and a 24,800-square-foot flex-tech center andaccording to Justin Bennett, DCT's regional vicepresident, the upside is in the below-market rents.
"Core Real Estate has been an excellent owner; we're acquiringsome well-managed facilities," comments Bennett, who says that arelationship with Core Real Estate's principal Mike Wyatt spurredthe deal. Leasing and property management is being handledin-house, with Will Hedges in charge of leasingactivities.
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