Sees Favorable Environment for Well-Capitalized Company

    BOSTON, Oct. 1 /PRNewswire/ -- Cabot Industrial Trust (NYSE: CTR)
announced today that it has completed $135 million in acquisitions during the
third quarter.  These acquisitions represented 14 separate transactions and
31 properties containing 3.2 million square feet, of which 21% is workspace,
16% is bulk distribution and 63% is multi-tenant distribution.  The properties
are located in Los Angeles, Chicago, Orlando, Phoenix, Atlanta, Cincinnati and
Baltimore/Washington, D.C.  Since going public on Feb. 4, 1998, Cabot has
closed approximately $400 million in acquisitions and committed funding for
$77 million for development projects in the Los Angeles, Baltimore/Washington
Corridor, Phoenix, Cincinnati, Atlanta, Dallas, Orlando and Ft. Lauderdale
markets.
    In announcing the transactions, Cabot Industrial Trust's Chairman and CEO
Ferdinand Colloredo-Mansfeld said, "These acquisitions reflect our proven
track record of growing our portfolio through smaller transactions.  This
strategy has enabled us to achieve national diversification, assemble
high-quality properties and realize a superior return on our capital.  Given
the conditions in the capital markets, we are experiencing greatly reduced
levels of competition for properties.  To date we have successfully achieved
the targets we set for ourselves at the beginning of 1998.  We will continue
to focus on opportunities where we can achieve the highest return on capital,
and we are now in a position to be highly selective."
    Cabot Industrial Trust is a fully integrated real estate company with
offices in Boston, Chicago, Los Angeles, Dallas, Orlando and Cincinnati, that
specializes in the ownership, acquisition and development of industrial
properties with 202 properties containing 28 million square feet in 22 states.
The Company also manages 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, 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, 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.

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