Distribution Center

Taipei, Taiwan

Distribution Center

Taipei, Taiwan

Time filter

Source Type

News Article | May 12, 2017
Site: www.prlog.org

--(http://www.churchs.com/), the global quick service restaurant chain of chicken passionates serving chicken passionates, announced today that it has awarded Performance Food Group (http://www.pfgc.com/)(PFG Little Rock) with its prestigious Distribution Center of the Year Award for 2016. PFG, based in Richmond, VA, delivers more than 150,000 food and related products to customers across the United States and has been servicing® since 2015.PFG's Little Rock distribution center was selected from among 14 distribution centers supporting thesystem based onDistribution Center Performance Evaluation, which examines a number of key performance attributes related to the delivery of thebrand to its restaurants and guests. The evaluation produces individual distribution center scores for freshness, quality, safety, inventory management and other key performance indicators (KPIs). The distributor achieving the highest score receives the award."We are thrilled to present this year's award to PFG Little Rock," said Barry Barnett ( http://www.churchs.com/ about.php ), Senior Vice President, Global Supply Chain & Purchasing. "PFG exemplifies values that are closely aligned with, helping us fulfill our purpose of making great chicken experiences that guest love."Executives fromwere on-hand at PFG's Little Rock distribution center to present the award to PFG's management team."We are beyond honored to receive the Distribution Center of the Year Award from," said Joe Copeland, President, PFG Little Rock. "PFG has been servicing the food service industry for many years over which time we've gained a reputation for exemplary quality and service. We are happy to be recognized as a partner inongoing success."Founded in San Antonio, TX in 1952 by George W. Church,is one of the largest quick service restaurant chicken chains in the world.specializes in Original and Spicy Chicken freshly prepared throughout the day in small batches that are hand-battered and double-breaded,, sandwiches, honey-butter biscuits made from scratch and freshly baked, and classic, home-style sides all for a great value.(along with its sister brandoutside the Americas) has more than 1,600 locations in 27 countries and international territories and system-wide sales of more than $1 billion. For more information, visit www.churchs.com . Followon Facebook at www.facebook.com/churchschicken and Twitter at www.twitter.com/churchschicken.


News Article | May 14, 2017
Site: www.24-7pressrelease.com

ATLANTA, GA, May 14, 2017 /24-7PressRelease/ -- Church's Chicken, the global quick service restaurant chain of chicken passionates serving chicken passionates, announced today that it has awarded Performance Food Group (PFG Little Rock) with its prestigious Distribution Center of the Year Award for 2016. PFG, based in Richmond, VA, delivers more than 150,000 food and related products to customers across the United States and has been servicing Church's since 2015. PFG's Little Rock distribution center was selected from among 14 distribution centers supporting the Church's system based on Church's Distribution Center Performance Evaluation, which examines a number of key performance attributes related to the delivery of the Church's brand to its restaurants and guests. The evaluation produces individual distribution center scores for freshness, quality, safety, inventory management and other key performance indicators (KPIs). The distributor achieving the highest score receives the award. "We are thrilled to present this year's award to PFG Little Rock," said Barry Barnett, Senior Vice President, Global Supply Chain & Purchasing. "PFG exemplifies values that are closely aligned with Church's, helping us fulfill our purpose of making great chicken experiences that guest love." Executives from Church's were on-hand at PFG's Little Rock distribution center to present the award to PFG's management team. "We are beyond honored to receive the Distribution Center of the Year Award from Church's," said Joe Copeland, President, PFG Little Rock. "PFG has been servicing the food service industry for many years over which time we've gained a reputation for exemplary quality and service. We are happy to be recognized as a partner in Church's ongoing success." About Church's Chicken Founded in San Antonio, TX in 1952 by George W. Church, Church's Chicken is one of the largest quick service restaurant chicken chains in the world. Church's specializes in Original and Spicy Chicken freshly prepared throughout the day in small batches that are hand-battered and double-breaded, Tender Strips , sandwiches, honey-butter biscuits made from scratch and freshly baked, and classic, home-style sides all for a great value. Church's (along with its sister brand Texas Chicken outside the Americas) has more than 1,600 locations in 27 countries and international territories and system-wide sales of more than $1 billion. For more information, visit http://www.churchs.com. Follow Church's on Facebook at http://www.facebook.com/churchschicken and Twitter at http://www.twitter.com/churchschicken.


"Atlanta's thriving business culture makes it a key component of our real estate acquisition and development strategy," said Kevin Adolphe, President & Chief Executive Officer of Manulife Real Estate. "The prime location of this new industrial development along with the expertise of our partner, CRG, will give tenants the ideal platform for success." Real estate developer CRG, on behalf of John Hancock Real Estate, owner of the property, will create a multiple phase business park with the flexibility to meet large industrial needs. This is the first of a 311-acre development designed for over 4.5 million square feet of industrial buildings. CRG Vice President and Southeast Partner Mike Demperio said: "We see significant opportunity in the I-75 corridor with close proximity to the Port of Savannah, Charleston, Jacksonville and all of Florida. Within the attractive Henry County industrial market, the site is located a half mile from the I-75 and Bill Garner Parkway interchange, just 30 miles south of Hartsfield-Jackson International Airport." CRG Partner Larry Chapman added, "CRG has looked for superior sites throughout the Atlanta industrial market and Locust Grove delivers to today's modern industrial user on all counts. This is one more step that CRG is taking to enhance our industrial portfolio in the southeast market." Once completed, the facility will feature 36' clear heights with 236 trailer spaces, 148 dock height doors and 386 parking spaces. With all concrete paving and LED lighting, this facility will provide best-in-class performance and efficiency. "I am excited about this project because of its proximity to I-75. The new road improvements provide the best access in Henry County," said Mike Spears, Vice President of Colliers International, who will manage leasing for the new premises. "This multi-phase project provides us with the ability to accommodate users who require multiple buildings." CRG's parent company Clayco will serve as the design-builder, and its subsidiary Forum Studio is the architect on the project. For more information about the Locust Grove Distribution Center, visit the CRG website. For further information, please visit: www.locustgroveindustrial.com. About Manulife Real Estate and John Hancock Real Estate Manulife Real Estate is the global real estate arm of Manulife, operating as John Hancock Real Estate in the U.S. and Manulife Real Estate in all other parts of the world. Manulife Real Estate has fully integrated in-house capabilities and 80 years of experience as an active investor, owner, developer and asset manager of commercial real estate. Diversified by both geography and asset type, the portfolio consists primarily of prime office and industrial properties, as well as select retail and multi-family residential properties, in key metropolitan centers throughout Canada, Asia and in the United States. In addition to equity real estate, Manulife Real Estate manages the space requirements and own use facilities for Manulife and John Hancock operations around the world. Manulife Real Estate also extends its real estate asset management expertise to institutional investors. As at March 31, 2017, the Manulife Real Estate portfolio totaled more than 62 million square feet with AUM market value of C$21.6 billion (US$15.2 billion). Additional information about Manulife Real Estate can be found at http://www.manuliferealestate.com/ About Manulife Manulife Financial Corporation is a leading international financial services group that helps people achieve their dreams and aspirations by putting customers' needs first and providing the right advice and solutions. We operate as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2016, we had approximately 35,000 employees, 70,000 agents, and thousands of distribution partners, serving more than 22 million customers. As of March 31, 2017, we had $1 trillion (US$754 billion) in assets under management and administration, and in the previous 12 months we made almost $26.3 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong. About CRG  CRG is a leading North American real estate developer headquartered in St. Louis, Missouri with offices in Chicago, Sacramento, Atlanta, Pittsburgh and Northern New Jersey. The CRG team has developed more than 5,000 acres of land and delivered over 160 million square feet of commercial, industrial, multi-family and institutional assets exceeding $9 billion in value. For more information visit www.realcrg.com. Follow CRG on Twitter @CRG_Real_Estate. About Clayco Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering and construction firm that delivers clients around the world the highest quality solutions on time, on budget, and above and beyond expectations. With $1.691 billion in revenue for 2016, Clayco specializes in the "art and science of building," providing fast track, efficient solutions globally for commercial, institutional and residential related building projects. For more information visit www.claycorp.com.


BENTON HARBOR, Mich., May 25, 2017 /PRNewswire/ -- Whirlpool Corporation will today hold a ribbon cutting to celebrate the successful expansion of its Greenville, Ohio Factory Distribution Center (FDC)., nearly doubling the size of the facility which currently services KitchenAid® small...


News Article | May 24, 2017
Site: www.prweb.com

M S International Inc. (“MSI”), North America’s Leading Supplier of Premium Surfacing Products, announces the opening of its newest showroom and distribution center located in San Diego, California. Built in response to the growing demand for MSI products, the San Diego facility features a modern 7,000 sq. ft. showroom displaying MSI’s full line of on-trend porcelain tile, natural stone, decorative mosaics and wall tile, Arterra porcelain pavers and stacked stone panels. Throughout the space are numerous displays and creative installs which allow visitors to get hands-on with these products and easily envision them in their homes. Carefully designed with the customer in mind, the showroom also boasts a spacious layout, comfortable seating and meeting areas, and a pleasing aesthetic design. Additionally, San Diego has the distinction of being one of the first branches to unveil the company’s new product feature pods, which make it exceedingly easy for shoppers to discover MSI’s latest releases and trending surfaces. Featured collections include: Bernini, Tektile, Domino, Country River, Vintage, Metallic Trends, Stacked Stone Panels, and Natural Stone Planks with Mosaics. Complementing the showroom is a 40,000 sq. ft. slab yard. Situated under four overhead cranes, the slab yard displays over 250 colors of granite, marble, and other natural stone slabs — as well as MSI’s industry-leading Q™ Premium Natural Quartz brand. In all, the San Diego facility houses one of the largest, most diverse and extensive inventories of flooring, countertops, and hardscaping in the region. Raj Shah, President of MSI, comments on the new branch, “Similar to elsewhere in California, we’ve seen a steady increase in demand for our products in the San Diego region. This facility responds to that demand, offering consumers a vast selection of traditional, modern, and trend-forward surfacing products.” He adds, “The branch also features some of our most exciting recent releases—many of which are ideal for creating contemporary outdoor living spaces—a trend that’s especially well-received in San Diego.” The San Diego Showroom and Distribution Center is located at: Founded in 1975, MSI is the leading supplier of premium surfaces in the U.S. - including flooring, countertops, decorative mosaics and wall tile, and hardscaping products. The company offers an extensive selection of granite, marble, porcelain, ceramic, quartz, glass, quartzite, among other styles. Headquartered in Orange, California, MSI has distribution centers across the United States and Canada and maintains over 125 million square feet of inventory, imported from over 36 different countries on six continents. For more information on MSI, visit http://www.msistone.com


New Mopar Parts Distribution Center Embraces Fork Truck Free Initiative with Topper Industrial Carts


News Article | May 6, 2017
Site: www.24-7pressrelease.com

ATLANTA, GA, May 06, 2017 /24-7PressRelease/ -- Intel piloted the Ubimax Pick-by-Vision solution xPick in its worldwide Distribution Center in Chandler, Arizona (U.S.). Order pickers were equipped with xPick running on Intel Recon Jet Pro Smart Glasses paired with wearable ring scanners. During a two month pilot, similar orders were provided to all operators - order pickers with traditional hand-held scanners and those equipped with Vision Picking Smart Glasses. Vision Picking clearly had an immediate positive impact on picking speed, error rate, employee training requirements and downtime - with minimal ramp-up time, Intel reduced its KPI "pick time per box" by 29 percent. Percy Stocker, COO, Ubimax, points out the benefits over conventional scanner solutions: "Having the relevant information always right in front of the eye combined with intuitive hands-free interaction methods leads to less stress and makes our xPick solution superior to often confusing hand-held scanners". Chelsea Graf, Enterprise Wearables Director, Intel, states: "The real benefit that we got from using Intel Recon Jet and xPick is the fact that workers can be brought in during peak periods and immediately contribute as if they had been trained for a long time". On the very first use without any training, order pickers were already 15 percent faster using Vision Picking compared to the picking process with hand-held scanners. Thanks to hands-free order picking and the intuitive graphical user interface displayed in the field of view of the workers, the picking workflow was significantly accelerated and errors were reduced. Pick confirmations via light-weight barcode ring scanners contributed to both performance increase and improved ergonomics. Workers explicitly emphasized the high wearing comfort of the Intel Recon Jet Pro Smart Glasses, the positive impact of hands-free working and the intuitive usability of xPick. The pilot shows the tremendous optimization potential which exists in today's warehouses which can be unlocked by state-of-the-art Wearable Computing technology. Based on the promising outcomes, Intel is evaluating the further expansion of the xPick solution in its warehouses around the globe. About Ubimax Inc. Ubimax is global market leader for Industrial Wearable Computing solutions, creating fully integrated solutions powered by latest Wearable Computing technologies to improve business processes. The Ubimax Enterprise Wearable Computing Suite includes "xPick" for order picking, "xMake" for manufacturing and quality assurance processes, "xInspect" to support service and maintenance technicians and "xAssist" for remote assistance functionality. With offices in Germany, the U.S. and Mexico, over 10 years of experience and an extensive track-record in the fields of Wearable Computing, Augmented Reality, Mixed Reality and Sensor Systems, Ubimax today serves more than 100 customers and is a clear forerunner in the market. http://www.ubimax.com


News Article | April 27, 2017
Site: marketersmedia.com

— Celina has been working on expanding its market base, selling to local businesses, larger corporations, foreign governments and distant customers, for many years. Now, they’re opening a distribution center in the UK with the help of a newly awarded Ohio IMAGE (International Market Access Grant for Exporters) Grant through the State Trade Expansion Program (STEP). This grant will help by covering some costs associated with expanding distribution and marketing of Celina’s main line of products. Elevating Small Business The STEP program provides states with monetary assistance to promote the education and expansion of small business into the international market. States receive funds according to a competitive process outlined by the Trade Facilitation and Trade Enforcement Act of 2015, with the express purpose of using the funds to teach small businesses how to export, how to attract foreign buyers and enter foreign markets, and market their products internationally. Ohio uses the STEP financial support to run the IMAGE Grant program. This program assists small businesses in expanding their products and services to international markets. Through expanding their market bases and increasing sales, small businesses are able to create more jobs, hire more employees, and sustain the local workforce. The bulk of the assistance comes in the form of reimbursements for activities and expenses associated with new international marketing endeavors. Investing in Growth Moving toward international sales is the most recent in a long line of business advances, from Celina’s shift to development and production in the early 2000’s to the latest production floor expansion and work on the new 100,000 square foot Celina Distribution Center at the main Celina, Ohio plant. The plan to grow into other markets has been in the works for some time. Jill Roy, Celina’s Administration Manger, stated that “The IMAGE Grant will allow Celina Tent to open its distribution center in Leicester much sooner than anticipated. In addition to reimbursing expenses related to the UK expansion, the Ohio Department of Development has provided us with invaluable market research. This market research has helped us learn about key market segments and the intricacies of business in the UK. Because of the IMAGE Grant, we are already considering plans to expand into Germany, France and Canada within the next five years.” Celina can be found online at their e-commerce sites GetTent.com and GetTent.co.uk with more information on their various divisions at CelinaTent.com and CelinaIndustries.com respectively. For more information, please visit http://www.celinatent.com


News Article | April 26, 2017
Site: www.prweb.com

Celina has been working on expanding its market base, selling to local businesses, larger corporations, foreign governments and distant customers, for many years. Now, they’re opening a distribution center in the UK with the help of a newly awarded Ohio IMAGE (International Market Access Grant for Exporters) Grant through the State Trade Expansion Program (STEP). This grant will help by covering some costs associated with expanding distribution and marketing of Celina’s main line of products. Elevating Small Business The STEP program provides states with monetary assistance to promote the education and expansion of small business into the international market. States receive funds according to a competitive process outlined by the Trade Facilitation and Trade Enforcement Act of 2015, with the express purpose of using the funds to teach small businesses how to export, how to attract foreign buyers and enter foreign markets, and market their products internationally. Ohio uses the STEP financial support to run the IMAGE Grant program. This program assists small businesses in expanding their products and services to international markets. Through expanding their market bases and increasing sales, small businesses are able to create more jobs, hire more employees, and sustain the local workforce. The bulk of the assistance comes in the form of reimbursements for activities and expenses associated with new international marketing endeavors. Investing in Growth Moving toward international sales is the most recent in a long line of business advances, from Celina’s shift to development and production in the early 2000’s to the latest production floor expansion and work on the new 100,000 square foot Celina Distribution Center at the main Celina, Ohio plant. The plan to grow into other markets has been in the works for some time. Jill Roy, Celina’s Administration Manger, stated that “The IMAGE Grant will allow Celina Tent to open its distribution center in Leicester much sooner than anticipated. In addition to reimbursing expenses related to the UK expansion, the Ohio Department of Development has provided us with invaluable market research. This market research has helped us learn about key market segments and the intricacies of business in the UK. Because of the IMAGE Grant, we are already considering plans to expand into Germany, France and Canada within the next five years.” Celina can be found online at their e-commerce sites GetTent.com and GetTent.co.uk, with more information on their various divisions at CelinaTent.com and CelinaIndustries.com respectively.


News Article | May 4, 2017
Site: www.businesswire.com

DENVER--(BUSINESS WIRE)--DCT Industrial Trust® (NYSE: DCT), a leading real estate company, today announced financial results for the quarter ending March 31, 2017. “DCT had an excellent start to 2017,” said Phil Hawkins, President and CEO of DCT Industrial. “Our operating results are trending ahead of expectations and we continue to have good leasing activity across our operating and development portfolios.” Net income attributable to common stockholders (“Net Earnings”) for Q1 2017 was $15.0 million, or $0.16 per diluted share, compared to $36.4 million, or $0.41 per diluted share, reported for Q1 2016, a decrease of 61.0 percent per diluted share. Funds from operations (“FFO”), as adjusted, attributable to common stockholders and unitholders for Q1 2017 totaled $58.7 million, or $0.61 per diluted share, compared with $50.5 million, or $0.54 per diluted share for Q1 2016, a 13.0 percent increase. The results exclude $1.1 million in interest expense related to hedge ineffectiveness for the quarter ending March 31, 2016. As of March 31, 2017, DCT Industrial owned 398 consolidated operating properties, totaling 64.0 million square feet, with occupancy of 97.5 percent, a decrease of 50 basis points from Q4 2016 and an increase of 170 basis points over Q1 2016. On a same-portfolio basis, occupancy decreased by 60 basis points and the impact of adding one stabilized, value-add acquisition to the operating portfolio increased occupancy by 10 basis points. Approximately 295,000 square feet, or 0.4 percent of DCT Industrial’s total consolidated portfolio, was leased but not occupied on March 31, 2017, which does not take into consideration 663,000 square feet of leased space in developments under construction or in pre-development. In Q1 2017, the Company signed leases totaling 3.3 million square feet with rental rates increasing 24.9 percent on a straight-line basis and 11.3 percent on a cash basis, compared to the corresponding expiring leases. Over the previous four quarters, rental rates on signed leases increased 19.4 percent on a straight-line basis and 7.8 percent on a cash basis. The Company’s tenant retention rate was 70.4 percent in Q1 2017. Net operating income (“NOI”) was $79.2 million in Q1 2017, compared with $69.3 million in Q1 2016. In Q1 2017, same-store NOI, excluding revenue from lease terminations, increased 5.7 percent on a straight-line basis and 10.4 percent on a cash basis, when compared to Q1 2016. Same-store occupancy averaged 97.0 percent in Q1 2017, an increase of 90 basis points from Q1 2016. Same-store occupancy as of March 31, 2017, was 97.2 percent. After a review of best practices in the industrial REIT sector, DCT Industrial has enhanced the definitions of its operating metrics. The revised definitions were implemented as of January 1, 2017, and include the following: For a complete list of operating metric definitions, please refer to pages 22-26 in the Company’s Supplemental Reporting Package. In April 2017, DCT Industrial acquired one value-add building totaling 44,000 square feet in the Northeast submarket of Denver for $5.2 million. The building, located adjacent to the DCT Summit Distribution Center development, was 100 percent occupied at closing; however, the tenant is expected to vacate upon the expiration of their lease in Q2 2018. The Company expects a stabilized cash yield of 6.5 percent upon stabilization of the building. In April 2017, DCT Industrial sold one building totaling 144,000 square feet located in the Baltimore/Washington Corridor submarket of Baltimore/Washington D.C. for $10.0 million with an expected year-one cash yield of 5.5 percent. In March 2017, DCT Industrial Operating Partnership LP priced an offering of $50.0 million aggregate principal amount of 4.50 percent senior unsecured notes due October 15, 2023 (the “Notes”), in an underwritten public offering. The Notes were priced at 103.88 percent of the principal amount resulting in a yield to maturity of 3.83 percent. The Notes are fully and unconditionally guaranteed by the Company and form a part of the same series as the Company’s previously issued and outstanding senior unsecured notes due in 2023. DCT Industrial’s Board of Directors declared a $0.31 per share quarterly cash dividend payable on July 12, 2017 to stockholders of record as of June 30, 2017. The Company raised and narrowed 2017 Net Earnings guidance to between $0.54 and $0.62 per diluted share, up from $0.46 to $0.56. Net Earnings guidance excludes any gain or loss related to potential future dispositions. The Company raised and narrowed 2017 FFO guidance, as adjusted, to between $2.36 and $2.44 per diluted share, up from $2.32 to $2.42 per diluted share. The Company’s FFO guidance excludes potential non-cash interest expense related to hedge ineffectiveness. For additional details, assumptions and definitions related to the Company’s 2017 guidance, please refer to page 10 in DCT Industrial’s First Quarter 2017 Supplemental Reporting Package. DCT Industrial will host a conference call to discuss Q1 results on Friday, May 5, 2017 at 11:00 a.m. Eastern Time. Stockholders and interested parties may listen to a live broadcast of the conference call by dialing (877) 506-6112 or (412) 902-6686. A telephone replay will be available through Friday, August 4, 2017 and can be accessed by dialing (877) 344-7529 or (412) 317-0088 and entering the passcode 10104268. A live webcast of the conference call will be available in the Investors section of the DCT Industrial website at www.dctindustrial.com. A webcast replay will also be available shortly following the call until May 5, 2018. Supplemental information is available in the Investors section of the Company’s website at www.dctindustrial.com or by e-mail request to investorrelations@dctindustrial.com. Interested parties may also obtain additional information from the SEC’s website at www.sec.gov. DCT Industrial is a leading real estate company specializing in the ownership, development, acquisition, leasing and management of bulk-distribution and light-industrial properties in high-demand distribution markets in the U.S. DCT’s actively-managed portfolio is strategically located near population centers and well-positioned to take advantage of market dynamics. As of March 31, 2017, the Company owned interests in approximately 74.0 million square feet of properties leased to approximately 900 customers. DCT maintains a Baa2 rating from Moody’s Investors Service and a BBB from Standard & Poor’s Rating Services. Additional information is available at www.dctindustrial.com. Click here to subscribe to Mobile Alerts for DCT Industrial. For information related to our Fixed Charge Coverage Ratio please see our First Quarter 2017 Supplemental The following table is a reconciliation of our reported net income attributable to common stockholders to our net operating income for the three months ended March 31, 2017 and 2016 (unaudited, in thousands): (1) Amounts relate to our Quarterly and Annual Same-Store Portfolios. Terms not otherwise defined below are as defined in our First Quarter 2017 Supplemental Reporting Package. NOI is defined as rental revenues, which includes expense reimbursements, less rental expenses and real estate taxes, and excludes institutional capital management fees, depreciation, amortization, casualty and involuntary conversion gain (loss), impairment, general and administrative expenses, equity in earnings (loss) of unconsolidated joint ventures, interest expense, interest and other income and income tax expense and other taxes. DCT Industrial considers NOI to be an appropriate supplemental performance measure because NOI reflects the operating performance of DCT Industrial’s properties and excludes certain items that are not considered to be controllable in connection with the management of the properties such as amortization, depreciation, impairment, interest expense, interest and other income, income tax expense and other taxes and general and administrative expenses. We also present NOI excluding lease termination revenue as it is not considered to be indicative of recurring operating performance. However, NOI should not be viewed as an alternative measure of DCT Industrial’s overall financial performance since it excludes expenses which could materially impact our results of operations. Further, DCT Industrial’s NOI may not be comparable to that of other real estate companies, as they may use different methodologies for calculating NOI. Therefore, DCT Industrial believes net income, as defined by GAAP, to be the most appropriate measure to evaluate DCT Industrial’s overall financial performance. We calculate Cash NOI as NOI excluding non-cash amounts recorded for straight-line rents including related bad debt expense and the amortization of above and below market rents. DCT Industrial considers Cash NOI to be an appropriate supplemental performance measure because Cash NOI reflects the operating performance of DCT Industrial’s properties and excludes certain non-cash items that are not considered to be controllable in connection with the management of the property such as accounting adjustments for straight-line rent and the amortization of above or below market rent. Additionally, DCT Industrial presents Cash NOI, excluding revenue from lease terminations, as such revenue is not considered indicative of recurring operating performance. Quarterly and Annual Same-Store Portfolios include all consolidated stabilized acquisitions acquired before January 1, 2016 and all consolidated developments, Redevelopments and Value-Add Acquisitions stabilized prior to January 1, 2016. Once a property is included in the Quarterly or Annual Same-Store Portfolio, it remains until it is subsequently disposed or placed into redevelopment. We consider NOI and Cash NOI from Quarterly and Annual Same-Store Portfolios to be a useful measure in evaluating our financial performance and to improve comparability between periods by including only properties owned for comparable periods. DCT Industrial believes that net income (loss) attributable to common stockholders, as defined by GAAP, is the most appropriate earnings measure. However, DCT Industrial considers funds from operations (“FFO”), as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), to be a useful supplemental, non-GAAP measure of DCT Industrial’s operating performance. NAREIT developed FFO as a relative measure of performance of an equity REIT in order to recognize that the value of income-producing real estate historically has not depreciated on the basis determined under GAAP. FFO is generally defined as net income attributable to common stockholders, calculated in accordance with GAAP with the following adjustments: We also present FFO, as adjusted, which excludes hedge ineffectiveness, certain severance costs, acquisition costs, debt modification costs and impairment losses on properties which are not depreciable. We believe that FFO, as adjusted, excluding hedge ineffectiveness, certain severance costs, acquisition costs, debt modification costs and impairment losses on non-depreciable real estate is useful supplemental information regarding our operating performance as it provides a more meaningful and consistent comparison of our operating performance and allows investors to more easily compare our operating results. Readers should note that FFO or FFO, as adjusted, captures neither the changes in the value of DCT Industrial’s properties that result from use or market conditions, nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of DCT Industrial’s properties, all of which have real economic effect and could materially impact DCT Industrial’s results from operations. NAREIT’s definition of FFO is subject to interpretation, and modifications to the NAREIT definition of FFO are common. Accordingly, DCT Industrial’s FFO, as adjusted, may not be comparable to other REITs’ FFO or FFO, as adjusted, should be considered only as a supplement to net income (loss) as a measure of DCT Industrial’s performance. We make statements in this report that are considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions and includes statements regarding our anticipated yields. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation: national, international, regional and local economic conditions, the general level of interest rates and the availability of capital; the competitive environment in which we operate; real estate risks, including fluctuations in real estate values and the general economic climate in local markets and competition for tenants in such markets; decreased rental rates or increasing vacancy rates; defaults on or non-renewal of leases by tenants; acquisition and development risks, including failure of such acquisitions and development projects to perform in accordance with projections; the timing of acquisitions, dispositions and development; natural disasters such as fires, floods, tornadoes, hurricanes and earthquakes; energy costs; the terms of governmental regulations that affect us and interpretations of those regulations, including the cost of compliance with those regulations, changes in real estate and zoning laws and increases in real property tax rates; financing risks, including the risk that our cash flows from operations may be insufficient to meet required payments of principal, interest and other commitments; lack of or insufficient amounts of insurance; litigation, including costs associated with prosecuting or defending claims and any adverse outcomes; the consequences of future terrorist attacks or civil unrest; environmental liabilities, including costs, fines or penalties that may be incurred due to necessary remediation of contamination of properties presently owned or previously owned by us; and other risks and uncertainties detailed in the section of our Form 10-K filed with the SEC and updated on Form 10-Q entitled “Risk Factors.” In addition, our current and continuing qualification as a real estate investment trust, or REIT, involves the application of highly technical and complex provisions of the Internal Revenue Code of 1986, or the Code, and depends on our ability to meet the various requirements imposed by the Code through actual operating results, distribution levels and diversity of stock ownership. We assume no obligation to update publicly any forward looking statements, whether as a result of new information, future events or otherwise.

Loading Distribution Center collaborators
Loading Distribution Center collaborators