{ "schemaVersion": 1, "organisationId": "O-831405e04fad42208e2647f27aee2797", "slug": "first-industrial-realty-trust-inc", "name": "FIRST INDUSTRIAL REALTY TRUST INC", "updatedAt": "2026-10-02T15:56:17.425506Z", "sections": [ { "type": "OVERVIEW", "text": "First Industrial Realty Trust, Inc. is a self-administered, fully integrated real estate investment trust focused on industrial property. It owns, manages, acquires, sells, develops and redevelops logistics-oriented facilities serving industrial and distribution uses. Its portfolio is concentrated in the United States, with a strategy centered on 15 logistics markets; at year-end 2025, it reported 414 in-service properties across 19 states, totaling approximately 69.9 million square feet. [P71095728][P84068223] The company’s website reported approximately 80 million square feet of properties owned or under construction as of June 30, 2026. [https://firstindustrial.com/]\n\nThe company’s stated mission is to create long-term shareholder value by providing industrial real estate solutions that benefit both customers and stockholders. [https://firstindustrial.com/sites/default/files/2023-09/2022-CSR-Report-First-Industrial.pdf] For fiscal 2025, First Industrial reported total revenue of approximately $727.1 million and 152 employees at December 31, 2025. [T296954][P104561552]\n[P71095728][P84068223][https://firstindustrial.com/][https://firstindustrial.com/sites/default/files/2023-09/2022-CSR-Report-First-Industrial.pdf][T296954][P104561552][https://firstindustrial.com/][https://firstindustrial.com/sites/default/files/2023-09/2022-CSR-Report-First-Industrial.pdf]", "updatedAt": "2026-10-02T15:56:17.425506Z" }, { "type": "PRODUCTS", "text": "First Industrial Realty Trust’s products are industrial properties offered for lease, including bulk and regional distribution centers and other logistics facilities. Its offerings also include move-in-ready space, build-to-suit sites and newly constructed facilities for logistics users. [P61238568][https://firstindustrial.com/about][https://firstindustrial.com/properties]\n\nThe company also provides leasing and property operations, including lease renewals, tenant facility support from in-house property managers and maintenance technicians, and development or acquisition of properties selected for location, functionality, tenant demand and expansion potential. [P80760333][https://firstindustrial.com/tenants][P74067197] Specifications vary by property; for example, a 612,554-square-foot building announced at First Park New Castle featured 40-foot clear heights, ESFR sprinklers and a multiple-tenant design. [https://firstindustrial.com/node/316]\n\nIts FY2025 report describes a portfolio of approximately 69.9 million square feet, but does not provide revenue percentages by property subtype or product. Lease revenue includes minimum rent and tenant recoveries for property expenses. [P104774027][P118291104][P61238568]\n[P61238568][P104774027][P80760333][P74067197][P118291104][https://firstindustrial.com/about][https://firstindustrial.com/properties][https://firstindustrial.com/tenants][https://firstindustrial.com/node/316]", "updatedAt": "2026-10-02T15:56:17.425506Z" }, { "type": "GEOGRAPHY", "text": "First Industrial Realty Trust focuses on 15 U.S. logistics markets. At December 31, 2025, its portfolio comprised 414 in-service properties totaling approximately 69.9 million square feet, with 94.4% occupancy, across 18 metropolitan-area categories. [P142657782][T6372040] The largest concentrations included Southern California (86 properties; 11.54 million sq. ft.), Central/Eastern Pennsylvania (24; 8.66 million sq. ft.) and Dallas–Fort Worth (53; 7.39 million sq. ft.). [T6372040]\n\nIn 2025, California—Northern and Southern California combined—accounted for 26.3% of consolidated net operating income, and Pennsylvania accounted for 11.4%; the company identified these as its two largest regions. [P92119742] The available disclosures do not provide a geographic revenue breakdown, and the company reports one business segment. [P142657626]\n\nThe company’s corporate office is in Chicago, Illinois. It reported 152 employees at year-end 2025, including 151 full-time employees, but did not disclose their geographic distribution. [P104561552][https://firstindustrial.com/contact]\n[P142657782][T6372040][T6372040][T6372040][T6372040][T6372040][T6372040][T6372040][P92119742][P142657626][P104561552][https://firstindustrial.com/contact][https://firstindustrial.com/contact]", "updatedAt": "2026-10-02T15:56:17.425506Z" }, { "type": "SEGMENTS", "text": "First Industrial Realty Trust reports one operating segment: its industrial real estate business. The company’s strategy centers on owning, managing, acquiring and developing industrial properties in U.S. logistics markets; its markets and activities are not reported as separate operating segments. [P142657626][P142657782][P74067197]\n\nFor 2025, the single segment accounted for 100% of consolidated revenue—$727.076 million—because it is the company’s only reported operating segment; this is not a separate, company-reported subsegment allocation. [P142657626][T296954] The company does not report segment assets because the information is not used by management to assess performance or allocate resources. [P118291104]\n[P142657626][P142657782][P74067197][T296954][P118291104]", "updatedAt": "2026-10-02T15:56:17.425506Z" }, { "type": "HISTORY", "text": "First Industrial Realty Trust was founded in 1994 and went public that June in a $389.5 million IPO. Its initial portfolio comprised 226 industrial properties totaling 17.4 million square feet. [https://firstindustrial.com/about][https://www.shidler.com/companies][https://investor.firstindustrial.com/static-files/fb3943cc-9e49-4593-a867-f9b2eb668f93] In 2005 and 2006, it established successive investment and development joint ventures with the California State Teachers’ Retirement System, each announced with approximately $950 million of investment capacity. [https://investor.firstindustrial.com/news-releases/news-release-details/first-industrial-realty-trust-and-california-state-teachers][https://investor.firstindustrial.com/news-releases/news-release-details/first-industrial-forms-new-950-million-strategic-land-and]\n\nDuring the 2009 downturn, Bruce W. Duncan became president and CEO; a later retrospective described the company’s response as involving organizational right-sizing, a simpler business model, and restored leverage. [https://investor.firstindustrial.com/static-files/34fd6301-7704-4b84-80ae-591a0be3cfd2][https://www.reit.com/news/videos/duncan-looks-back-first-industrials-20-years-nyse] In 2016, Peter E. Baccile became president and then CEO, succeeding Duncan, who remained chairman. [https://www.prnewswire.com/news-releases/first-industrial-names-peter-e-baccile-president-assumes-ceo-position-december-1st-2016-300307886.html] The company marked 20 years as a NYSE-listed company in 2014. [https://www.reit.com/news/videos/duncan-looks-back-first-industrials-20-years-nyse]\n\nThe company continued expanding through property acquisitions: in 2017 it reported acquiring eight buildings and seven land parcels for $174.2 million. [https://investor.firstindustrial.com/node/17346/pdf] In 2025, it acquired three fully leased Phoenix-area buildings totaling about 1.8 million square feet from its Camelback 303 joint venture, in two transactions. 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