Pursuing an opportunity to expand its existing Houston portfolio, the Company began construction of DCT Northwest 8 Distribution Center in 2011. The 267,000 square foot building, delivered in the third quarter of 2012, brought DCT’s Houston portfolio to 3.2 million square feet as of December 31, 2012. As one of a few speculative developments within the Houston market in 2012, the project was in high demand.
Given the lack of modern, functional, contiguous space in the market, as well as declining vacancy rates, DCT targeted a single user for the facility. Within four months of completion, well ahead of schedule, the Company executed a full-building lease with a leading third-part logistics company.