WORLD PROPERTY CHANNEL ®

(ATLANTA, GA) -- Woodgrain Distribution, a 56-year-old millwork manufacturer based in Fruitland, ID, has leased 160,440 square feet of distribution space at a DCT Industrial Trust (NYSE:DCT)  property in northeast Atlanta.

DCT's prepared statement didn't disclose lease terms but Atlanta brokers familiar with the city's warehouse market say the contract is for at least 10 years valued at an estimated $5 per sf for a total 10-year estimated gross rent of $8 million.

The lease is the largest this year in Atlanta's industrial market.

Please see related Real Estate Channel posting: Deals of the Week, Nov. 9, 2009

The facility, located at 6280 Best Friend Road, will serve as the regional distribution center for Woodgrain.

"DCT's facility in Atlanta is a high quality, in-fill location ideal for Woodgrain Distribution's Southeast logistics services," says John Tugman, Vice President and Market Representative for DCT Industrial.

"We built a strong relationship together during negotiations, resulting in an agreement meeting Woodgrain's long-term objectives and providing them with an improved operating facility."

The lease began March 1, 2010 and brings the building occupancy to 100%.  DCT didn't disclose the size of the structure.

Dave Watson, Darren Ross and Nick Faber of Grubb & Ellis represented DCT Industrial. Tommy Hiles with Bull Realty represented Woodgrain Distribution.

DCT Industrial Trust owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico.

As of Dec. 31, 2009, the company owned, managed or had under development 75.4 million square feet of assets leased to about 810 customers, including 14.6 million square feet managed on behalf of three institutional joint venture partners.

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