Pure Industrial Real Estate Trust Provides Update on U.S. Development Projects

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

VANCOUVER, Jan. 26, 2015 /CNW/ - Pure Industrial Real Estate Trust ("PIRET") (TSX: AAR.UN) announced today the completion of a previously announced purpose-built 199,865 square foot high-volume distribution centre located in Austin, Texas.

The Austin property is part of an 11 property portfolio that was previously announced on June 18, 2014. The portfolio comprises over 1.9 million square feet and was acquired for an aggregate purchase price of approximately US$221 million and is leased entirely to a multi-national ground package courier company. The property will generate US$1,616,961 in annual Net Operating Income.

The Austin Texas property was completed on schedule. The tenant has taken occupancy of the space and rent commenced on January 15, 2015. Of the 11 properties previously announced in June 2014, 9 are now fully operational.

City / State or Province	GLA (sq. ft.)	Year Built	Lease Expiration
Income Producing Properties
City of Industry, CA	211,495	2007	Jun-2022
West Palm Beach, FL	119,165	2007	May-2025
Newton, NC	141,432	2010	Aug-2023
Barrington, NJ	196,227	2006	May-2021
Dover, NJ	171,907	2010	Jun-2024
Montreal, QC	106,263	2007	Aug-2024
Rock Island, IL	189,926	Nov-2014	Oct-2024
Wheeling, IL (redevelopment)	147,082	Aug-2014	Jul-2024
Austin, TX	199,865	Jan-2015	Jan-2025
Total Income Producing	1,483,362	4.7 Years	8.9 Years
Properties Under Development
Baton Rouge, LA	175,374	Feb-2015	Jan-2025
San Antonio, TX	202,763	Feb-2015	Jan-2025
Total Under Development	378,137	--	10 Years
Total Portfolio	1,861,499	3.7 Years	9.1 Years

Two properties located in Baton Rouge Louisiana and San Antonio Texas, remain under development, and are on schedule to be completed in February 2015.

About Pure Industrial Real Estate Trust

PIRET is an unincorporated, open-ended investment trust that owns and operates a diversified portfolio of income-producing industrial properties in leading markets. PIRET is an internally managed REIT that focuses exclusively on investing in industrial properties.

Additional information about PIRET is available at www.piret.ca or www.sedar.com.

TSX – AAR.UN

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED NOR APPROVED THE CONTENTS OF THIS PRESS RELEASE AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

SOURCE Pure Industrial Real Estate Trust (PIRET)

Image with caption: "Photo: Exterior view of PIRET's recently completed distribution facility located in Austin, Texas. The tenant is FedEx Ground. (CNW Group/Pure Industrial Real Estate Trust (PIRET))". Image available at: http://photos.newswire.ca/images/download/20150126_C4945_PHOTO_EN_11532.jpg

Image with caption: "Photo: Interior view of PIRET's recently completed distribution facility located in Austin, Texas. The tenant is FedEx Ground. (CNW Group/Pure Industrial Real Estate Trust (PIRET))". Image available at: http://photos.newswire.ca/images/download/20150126_C4945_PHOTO_EN_11533.jpg

Andrew Greig, Director of Investor Relations, Suite 910, 925 West Georgia Street, Vancouver, BC V6C 3L2, Phone: [phone] or [phone], E-mail: [email protected]