BOSTON, July 1 /PRNewswire/ -- Cabot Industrial Trust (NYSE: CTR), a
national owner, operator, and developer of industrial property, announced
today that it has completed the acquisitions of 26 properties for
approximately $100 million in 9 separate transactions, during the quarter
ended June 30, 1999. The properties are located in Boston, Atlanta,
Baltimore, Charlotte, Chicago, Los Angeles and San Diego. The 26 properties
contain 2.1 million rentable square feet, of which 22% is bulk distribution,
49% is multitenant and 29% is workspace property. These properties are
currently 99% occupied by 69 tenants.
Cabot Industrial Trust is a fully integrated real estate company, with
offices in Atlanta, Baltimore, Boston, Chicago, Cincinnati, Dallas, Los
Angeles, Orlando and Phoenix, which specializes in the ownership, acquisition,
and development of industrial properties. It owns 268 properties containing
32 million square feet in 22 states. The Company also manages an additional
10 million square feet of property for investment advisory accounts. Cabot
Industrial Trust focuses on a broad spectrum of industrial property types
nationwide including large bulk distribution facilities, multitenant
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, uncertainties and costs related to and the imposition of
conditions on 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.
To receive Cabot Industrial Trust's latest news release and other
corporate documents please send requests via e-mail at ir@cabottrust.com or
visit our web-site at http://www.cabottrust.com.
SOURCE Cabot Industrial Trust
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Related links:
http://www.cabottrust.com
CONTACT:
Franz Colloredo-Mansfeld, Chief Financial
Officer of Cabot Industrial Trust, 617-723-0900
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