CCH C2C Industrial Properties

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


C2C Industrial Properties Inc. ("C2C" or the "Company") (TSX VENTURE:CCH) today
announced that the offer to acquire all of the issued and outstanding shares
(the "C2C Shares") of C2C Industrial Properties Inc. ("C2C") in exchange for
units of Dundee Industrial REIT (the "Offer") has been mailed to the
shareholders of C2C. Included in the mailing is Dundee Industrial REIT's offer
to purchase and take-over bid circular and the C2C Board of Directors' circular
unanimously recommending that C2C shareholders tender their shares to the Offer.
C2C Shareholders will receive 0.4485 Dundee Industrial REIT units for each C2C
Share.


The Offer is subject to certain conditions typical for transactions of this
nature, including that a minimum of 66 2/3% of the C2C Shares (on a fully
diluted basis) are tendered to the Offer, customary regulatory approvals
(including under the Competition Act) and required consents. The Offer is
scheduled to expire at 12:01 a.m. on May 11, 2013, unless the Offer is extended
or withdrawn in accordance with the terms of the agreement between Dundee
Industrial REIT and C2C and applicable law. 


The C2C Portfolio comprises of approximately 2.3 million square feet of gross
leasable area located primarily in Halifax, Edmonton, Greater Toronto Area and
Greater Montreal Area, including vacant land in the Halifax market. The C2C
Portfolio, which has a current occupancy rate of 96%, complements Dundee
Industrial REIT's existing assets in terms of asset type and quality, as well as
other key portfolio metrics. Upon completion of the transaction, C2C
Shareholders will own approximately 11% of Dundee Industrial REIT.


C2C shareholders may obtain a copy of the offer to purchase, take-over bid
circular, letter of transmittal, notice of guaranteed delivery and C2C's
directors' circular under C2C's SEDAR profile at www.sedar.com or from the
depositary for the Offer, Equity Financial Trust Company, at 200 University
Avenue, Suite 400, Toronto, Ontario,M5H 4H1, Attention: Corporate Actions, or by
email at corporateactions@equityfinancialtrust.com. If C2C shareholders have
questions or need assistance in depositing their shares under the Offer, please
call Equity Financial Trust Company at 1-866-393-4891. 


The Offer will not be made outside Canada. This press release is not an offer of
securities for sale in the United States. The units and Debentures being offered
have not been and will not be registered under the United States Securities Act
of 1933 and accordingly are not being offered for sale and may not be offered,
sold or delivered, directly or indirectly within the United States, its
possessions and other areas subject to its jurisdiction or to, or for the
account or for the benefit of a U.S. person, except pursuant to an exemption
from the registration requirements of that Act.


About C2C Industrial Properties Inc.

C2C is a real estate investment corporation specializing in the acquisition,
ownership and operation of light industrial properties across Canada. C2C
currently owns 24 industrial assets totaling approximately 2.3 million square
feet of gross leasable area. For more information, please visit www.c2cip.com.


This press release contains forward-looking statements with respect to C2C and
its operations, strategy, financial performance and financial condition, as well
as with respect to the acquisition of the C2C's portfolio of assets (the "C2C
Portfolio"). These statements generally can be identified by the use of
forward-looking words such as "forecast", "may", "will", "expect", "estimate",
"anticipate", "intend", "believe" or "continue" or the negative thereof or
similar variations. The actual results and performance of C2C and the C2C
Portfolio discussed herein could differ materially from those expressed or
implied by such statements. See the risk factors in the public filings of C2C.
Such statements are qualified in their entirety by the inherent risks and
uncertainties surrounding future expectations. Some important factors that could
cause actual results to differ materially from expectations include, among other
things, general economic and market factors, competition, the failure to receive
any required approvals or consents in connection with the acquisition of the C2C
Portfolio or the failure to satisfy or waive any other condition to the
acquisition of the C2C Portfolio, the failure of Dundee Industrial REIT to
realize expected benefits from the acquisition of the C2C Portfolio, the
performance of the C2C Portfolio generally, changes in securities or other laws
or regulations or the application thereof. The cautionary statements qualify all
forward-looking statements attributable to C2C and persons acting on its behalf.
The assumptions made in making forward-looking statements are referred to in the
public filings of C2C. Unless otherwise stated, all forward-looking statements
speak only as of the date of this press release. Except as required by
applicable law, C2C specifically disclaims any obligation to update or revise
any forward-looking statements, whether as a result of new information, future
developments or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
C2C Industrial Properties Inc.
Brian Spence
Chairman
(416) 646-7366
bspence@strathallen.com


C2C Industrial Properties Inc.
David Wright
Chief Executive Officer & Director
(416) 646-7355
dwright@strathallen.com


C2C Industrial Properties Inc.
Christopher Ross
President
(416) 646-7353
cross@c2cip.com


C2C Industrial Properties Inc.
Mario Barrafato
Chief Financial Officer
(416) 365-4132
mbarrafato@dundeeindustrial.com
www.c2cip.com

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