$195 Million in Acquisitions Closed since Initial Public Offering

    BOSTON, April 7 /PRNewswire/ -- Cabot Industrial Trust (NYSE: CTR)
announced today that it has completed the acquisitions of 14 properties in
Atlanta, Chicago, Cincinnati/Northern Kentucky, Los Angeles, Minneapolis and
Phoenix in eight separate transactions.  The total purchase price for the
properties is $64 million, consisting of $61 million in cash and $3 million in
partnership units.  The 14 properties include a total of 1.4 million rentable
square feet, of which 33% is bulk distribution, 17% is multi-tenant
distribution and 50% is workspace.  The properties are currently 88% occupied
by 42 tenants.
    In announcing the transactions, Cabot Industrial Trust's Chairman and
Chief Executive Officer, Ferdinand Colloredo-Mansfeld, said, "These
transactions, as well as the six acquisitions we completed in February,
demonstrate Cabot's ability to identify and acquire attractive properties in
our target markets throughout the United States.  We are very pleased with
Cabot's progress since our IPO and look forward to continued growth."
    Since completing its initial public offering on February 4, 1998, Cabot
has acquired 30 properties totaling $195 million in 14 separate transactions
in ten target markets throughout the United States.  Through its recent
acquisitions, Cabot also entered Minneapolis, a new target market for the
Company.  Twenty-one of these properties, totaling $144 million in purchase
price, were identified prior to the Company's recent initial public offering.
    Cabot Industrial Trust is a fully integrated real estate company that
specializes in the ownership, acquisition and development of industrial
properties.  Its portfolio currently includes 152 properties containing over
23 million square feet in 22 states.  The Company focuses on a broad spectrum
of industrial property types nationwide, including large bulk distribution
facilities, multi-tenant distribution facilities and workspace properties.
Cabot Industrial Trust closed its initial public offering of 8,625,000 common
shares and a concurrent private placement of 1,000,000 shares to Morgan
Stanley Asset Management on February 4, 1998.
    In addition to historical information, this press release contains
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995.  These statements are based on management's
current expectations about the industry and the markets in which the Company
operates.  Such forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties or other
factors which may cause actual results, performance or achievements of the
Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.  Actual
operating results may be affected by various factor including, without
limitation, changes in national and local economic conditions, competitive
market conditions, receipt of governmental approvals and costs of material and
labor, all of which may cause such actual results to differ materially from
what is expressed or forecast in this press release.