REIT DCT Industrial sets terms

DCT Industrial, an industrial real estate developer in 23 U.S. markets, set the terms for its IPO on Thursday. The Denver-based company plans to offer 15 million shares at a range of $11.50-$12.50. The deal has a proposed market cap of $1.8 billion. Merrill Lynch and Wachovia will manage the deal and have yet to announce timing.