REIT to Undertake Development in Baltimore and Los Angeles

    BOSTON, Mass., June 10 /PRNewswire/ -- Cabot Industrial Trust (NYSE: CTR)
announced today that it has completed the acquisitions of nine properties in
Chicago, Cincinnati, Dallas, Los Angeles and San Diego for $38.4 million in
5 separate transactions.  The nine properties consist of 937,911 rentable
square feet, of which 39% is multi-tenant distribution and 61% is workspace.
The properties are currently 97% occupied by 19 tenants.
    Additionally, the Company has acquired 13.1 acres in Los Angeles to
commence the development of a 224,800 square foot, three-building project
targeting multi-tenant distribution tenants.  The Company has also entered
into an agreement to acquire 10.5 acres in Baltimore, where it plans to
develop two buildings with a total of 130,100 square feet targeting workspace
tenants.
    Cabot Industrial Trust's Chairman and CEO, Ferdinand Colloredo-Mansfeld,
commented, "These transactions demonstrate our strategy of achieving growth in
our target markets through both acquisitions and development.  We are seeing
strong demand for our smaller tenant distribution and workspace properties,
whose users are often among the smaller and faster growing companies which now
employ over 50% of the nation's work force.  We are therefore targeting
development and acquisitions to meet this sector's needs.  We believe Cabot is
one of the few national companies whose strategy includes undertaking
development for smaller tenants."
    Cabot Industrial Trust is a fully integrated real estate company that
specializes in the ownership, acquisition and development of industrial
properties with 162 properties containing 24.0 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.
    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 factors 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.

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