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The Real Deal Miami

DCT buys Doral site for $6.26M

July 29, 2011 02:45AM

DCT Industrial Trust has purchased 14.68 acres of land from Everbank for
$6.26 million. The two-parcel property had a closing on its first phase
on July 19, with its second phase set to close by the end of the year.
DCT intends to develop the site, which is located in Doral, for lease.
“The market is quickly trending upward,” said Devin White, vice
president at CB Richard Ellis. “As vacancy diminishes, demand for
quality distribution space has increased. Given where we are in the real
estate cycle, together with the shortage of quality distribution space,
DCT believes this to be the opportune time to bring Class A product to
the market.” CB Richard Ellis represented DCT in the deal. — Alexander Britell