DCT Industrial Trust acquires 19 acre land parcel in Rancho Cucamonga for $4.7 million

DCT Industrial Trust buys 19 acres in SoCal

DENVER — DCT Industrial Trust said Monday it acquired a 19-acre land parcel in Rancho Cucamonga, Calif., for $4.7 million on which it plans to custom-build industrial properties.

The land parcel, located about 40 miles east of Los Angeles, will support development of up to 11 buildings as large as 200,000 square feet, the company said.

DCT said the site is 90 percent entitled and certain parcels will be available for resale.

The company, which is based in Denver, acquired the land from a joint venture managed by Phelan Development Co.

Shares of DCT added 5 cents to close at $4.42 on Monday.