First Industrial Realty Trust (FR) 10-Q 29 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 28, 2016
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	FR
Entity Registrant Name	FIRST INDUSTRIAL REALTY TRUST INC
Entity Central Index Key	921,825
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		116,862,408
First Industrial, L.P.
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	FRFI
Entity Registrant Name	FIRST INDUSTRIAL LP
Entity Central Index Key	1,033,128
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investment in Real Estate:
Land	$ 790,435	$ 745,912
Buildings and Improvements	2,506,179	2,511,737
Construction in Progress	31,705	36,319
Less: Accumulated Depreciation	(789,873)	(791,330)
Net Investment in Real Estate	2,538,446	2,502,638
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $0 and $1,171	0	2,510
Cash and Cash Equivalents	4,376	3,987
Restricted Cash	11,892	23,005
Tenant Accounts Receivable, Net	4,028	5,612
Deferred Rent Receivable, Net	65,028	62,335
Deferred Leasing Intangibles, Net	31,810	33,326
Prepaid Expenses and Other Assets, Net	72,618	76,395
Total Assets	2,728,198	2,709,808
Indebtedness:
Mortgage Loans Payable, Net	502,838	561,241
Senior Unsecured Notes, Net	204,891	364,457
Unsecured Term Loans, Net	456,304	455,970
Unsecured Credit Facility	148,000	52,500
Accounts Payable, Accrued Expenses and Other Liabilities	93,751	93,699
Deferred Leasing Intangibles, Net	11,111	11,841
Rents Received in Advance and Security Deposits	40,032	40,153
Dividends and Distributions Payable	23,284	14,812
Total Liabilities	1,480,211	1,594,673
Commitments and Contingencies	0	0
First Industrial Realty Trust Inc.’s Stockholders’ Equity/First Industrial, L.P.'s Partners' Capital:
Common Stock ($0.01 par value, 150,000,000 shares authorized and 116,862,842 and 111,027,225 shares issued and outstanding)	1,169	1,111
Additional Paid-in-Capital	1,881,240	1,756,415
Distributions in Excess of Accumulated Earnings	(652,553)	(674,759)
Accumulated Other Comprehensive Loss	(26,487)	(9,667)
Total First Industrial Realty Trust, Inc.’s Stockholders’ Equity	1,203,369	1,073,100
Noncontrolling Interest	44,618	42,035
Total Equity	1,247,987	1,115,135
Total Liabilities and Equity/Partners' Capital	2,728,198	2,709,808
First Industrial, L.P.
Investment in Real Estate:
Land	790,435	745,912
Buildings and Improvements	2,506,179	2,511,737
Construction in Progress	31,705	36,319
Less: Accumulated Depreciation	(789,873)	(791,330)
Net Investment in Real Estate	2,538,446	2,502,638
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $0 and $1,171	0	2,510
Cash and Cash Equivalents	4,376	3,987
Restricted Cash	11,892	23,005
Tenant Accounts Receivable, Net	4,028	5,612
Deferred Rent Receivable, Net	65,028	62,335
Deferred Leasing Intangibles, Net	31,810	33,326
Prepaid Expenses and Other Assets, Net	83,174	87,110
Total Assets	2,738,754	2,720,523
Indebtedness:
Mortgage Loans Payable, Net	502,838	561,241
Senior Unsecured Notes, Net	204,891	364,457
Unsecured Term Loans, Net	456,304	455,970
Unsecured Credit Facility	148,000	52,500
Accounts Payable, Accrued Expenses and Other Liabilities	93,751	93,699
Deferred Leasing Intangibles, Net	11,111	11,841
Rents Received in Advance and Security Deposits	40,032	40,153
Dividends and Distributions Payable	23,284	14,812
Total Liabilities	1,480,211	1,594,673
Commitments and Contingencies	0	0
First Industrial Realty Trust Inc.’s Stockholders’ Equity/First Industrial, L.P.'s Partners' Capital:
General Partner Units (116,862,842 and 111,027,225 units outstanding)	1,203,477	1,054,028
Limited Partners Units (4,295,010 and 4,305,707 units outstanding)	81,516	80,769
Accumulated Other Comprehensive Loss	(27,461)	(10,043)
Total First Industrial L.P.'s Partners’ Capital	1,257,532	1,124,754
Noncontrolling Interest	1,011	1,096
Total Partners’ Capital	1,258,543	1,125,850
Total Liabilities and Equity/Partners' Capital	$ 2,738,754	$ 2,720,523

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Real Estate Held for Sale, Accumulated Depreciation	$ 0	$ 1,171
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	150,000,000	150,000,000
Common Stock, shares issued	116,862,842	111,027,225
Common Stock, shares outstanding	116,862,842	111,027,225
First Industrial, L.P.
Real Estate Held for Sale, Accumulated Depreciation	$ 0	$ 1,171
General Partner Units, units outstanding	116,862,842	111,027,225
Limited Partner Units, units outstanding	4,295,010	4,305,707

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Rental Income	$ 72,271	$ 69,886	$ 144,023	$ 138,096
Tenant Recoveries and Other Income	20,744	20,603	42,459	42,359
Total Revenues	93,015	90,489	186,482	180,455
Expenses:
Property Expenses	26,875	27,827	55,242	57,618
General and Administrative	6,433	6,160	14,107	13,126
Acquisition Costs	155	319	219	319
Depreciation and Other Amortization	28,725	28,044	59,853	56,350
Total Expenses	62,188	62,350	129,421	127,413
Other Income (Expense):
Gain on Sale of Real Estate	36,775	2,197	44,026	10,127
Interest Expense	(14,589)	(16,363)	(30,848)	(33,005)
Amortization of Deferred Financing Costs	(782)	(764)	(1,655)	(1,510)
Mark-to-Market and Settlement Gain (Loss) on Interest Rate Protection Agreements	0	1,444	0	(11,546)
Total Other Income (Expense)	21,404	(13,486)	11,523	(35,934)
Income from Continuing Operations Before Equity in (Loss) Income of Joint Ventures and Income Tax Provision	52,231	14,653	68,584	17,108
Equity in (Loss) Income of Joint Ventures	0	(4)	0	67
Income Tax Provision	(123)	(81)	(181)	(141)
Net Income	52,108	14,568	68,403	17,034
Less: Net Income Attributable to the Noncontrolling Interest	(1,879)	(556)	(2,486)	(649)
Net Income Available to Common Stockholders/Unitholders and Participating Securities	$ 50,229	$ 14,012	$ 65,917	$ 16,385
Basic and Diluted Earnings Per Share/Unit:
Net Income Available to Common Stockholders / Unitholders	$ 0.43	$ 0.13	$ 0.58	$ 0.15
Dividends/Distributions Per Share/Unit	$ 0.19	$ 0.1275	$ 0.38	$ 0.2550
Weighted Average Shares/Units Outstanding - Basic	116,191	110,348	113,492	110,329
Weighted Average Shares/Units Outstanding - Diluted	116,558	110,683	113,771	110,679
First Industrial, L.P.
Revenues:
Rental Income	$ 72,271	$ 69,886	$ 144,023	$ 138,096
Tenant Recoveries and Other Income	20,744	20,603	42,459	42,359
Total Revenues	93,015	90,489	186,482	180,455
Expenses:
Property Expenses	26,875	27,827	55,242	57,618
General and Administrative	6,433	6,062	14,107	13,011
Acquisition Costs	155	319	219	319
Depreciation and Other Amortization	28,725	28,044	59,853	56,350
Total Expenses	62,188	62,252	129,421	127,298
Other Income (Expense):
Gain on Sale of Real Estate	36,775	2,197	44,026	10,127
Interest Expense	(14,589)	(16,363)	(30,848)	(33,005)
Amortization of Deferred Financing Costs	(782)	(764)	(1,655)	(1,510)
Mark-to-Market and Settlement Gain (Loss) on Interest Rate Protection Agreements	0	1,444	0	(11,546)
Total Other Income (Expense)	21,404	(13,486)	11,523	(35,934)
Income from Continuing Operations Before Equity in (Loss) Income of Joint Ventures and Income Tax Provision	52,231	14,751	68,584	17,223
Equity in (Loss) Income of Joint Ventures	0	(4)	0	67
Income Tax Provision	(123)	(81)	(181)	(141)
Net Income	52,108	14,666	68,403	17,149
Less: Net Income Attributable to the Noncontrolling Interest	(60)	(22)	(74)	(48)
Net Income Available to Common Stockholders/Unitholders and Participating Securities	$ 52,048	$ 14,644	$ 68,329	$ 17,101
Basic and Diluted Earnings Per Share/Unit:
Net Income Available to Common Stockholders / Unitholders	$ 0.43	$ 0.13	$ 0.58	$ 0.15
Dividends/Distributions Per Share/Unit	$ 0.19	$ 0.1275	$ 0.38	$ 0.2550
Weighted Average Shares/Units Outstanding - Basic	120,486	114,712	117,791	114,697
Weighted Average Shares/Units Outstanding - Diluted	120,853	115,047	118,070	115,047

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Income	$ 52,108	$ 14,568	$ 68,403	$ 17,034
Mark-to-Market (Loss) Gain on Interest Rate Protection Agreements	(5,120)	2,658	(17,616)	(6,788)
Reclassification of Fair Value of Interest Rate Protection Agreements (See Note 10)	0	0	0	12,990
Amortization of Interest Rate Protection Agreements	96	131	198	262
Foreign Currency Translation Adjustment	0	0	0	15
Comprehensive Income	47,084	17,357	50,985	23,513
Comprehensive Income Attributable to Noncontrolling Interest	(1,707)	(662)	(1,852)	(895)
Comprehensive Income Attributable to First Industrial Realty Trust, Inc. / Unitholders	45,377	16,695	49,133	22,618
First Industrial, L.P.
Net Income	52,108	14,666	68,403	17,149
Mark-to-Market (Loss) Gain on Interest Rate Protection Agreements	(5,120)	2,658	(17,616)	(6,788)
Reclassification of Fair Value of Interest Rate Protection Agreements (See Note 10)	0	0	0	12,990
Amortization of Interest Rate Protection Agreements	96	131	198	262
Foreign Currency Translation Adjustment	0	0	0	(26)
Comprehensive Income	47,084	17,455	50,985	23,587
Comprehensive Income Attributable to Noncontrolling Interest	(60)	(22)	(74)	(48)
Comprehensive Income Attributable to First Industrial Realty Trust, Inc. / Unitholders	$ 47,024	$ 17,433	$ 50,911	$ 23,539

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS EQUITY/ PARTNER'S CAPITAL - 6 months ended Jun. 30, 2016 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in- Capital	Distributions in Excess of Accumulated Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest	First Industrial, L.P.	First Industrial, L.P.General Partner Units	First Industrial, L.P.Limited Partner Units	First Industrial, L.P.Accumulated Other Comprehensive Loss	First Industrial, L.P.Noncontrolling Interest
Beginning Balance at Dec. 31, 2015	$ 1,115,135	$ 1,111	$ 1,756,415	$ (674,759)	$ (9,667)	$ 42,035
Beginning Balance at Dec. 31, 2015							$ 1,125,850	$ 1,054,028	$ 80,769	$ (10,043)	$ 1,096
Increase (Decrease) in Stockholders' Equity / Partners' Capital [Roll Forward]
Issuance of Common Stock / Contribution of General Partner Units, Net of Issuance Costs	124,584	56	124,528					124,584
Stock Based Compensation Activity	2,413	2	2,624	(213)
Stock Based Compensation Activity							2,413	2,413
Conversion of Limited Partner Units to Common Stock/General Partner Units	0	0	107			(107)	0	107	(107)
Reallocation—Additional Paid in Capital	0		(2,434)			2,434
Common Stock Dividends and Unit Distributions	(45,130)			(43,498)		(1,632)
Unit Distributions							(45,130)	(43,498)	(1,632)
Contributions from Noncontrolling Interest							15				15
Distributions to Noncontrolling Interest						(1,632)	(174)				(174)
Net Income	68,403			65,917		2,486	68,403	65,843	2,486		74
Other Comprehensive Loss	(17,418)				(16,820)	(598)	(17,418)			(17,418)
Ending Balance at Jun. 30, 2016	$ 1,247,987	$ 1,169	$ 1,881,240	$ (652,553)	$ (26,487)	$ 44,618
Ending Balance at Jun. 30, 2016							$ 1,258,543	$ 1,203,477	$ 81,516	$ (27,461)	$ 1,011

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 68,403	$ 17,034
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation	49,084	46,315
Amortization of Deferred Financing Costs	1,655	1,510
Other Amortization	14,892	14,349
Provision for Bad Debt	491	600
Equity in Income of Joint Ventures	0	(67)
Gain on Sale of Real Estate	(44,026)	(10,127)
Mark-to-Market Loss on Interest Rate Protection Agreements	0	11,546
Decrease in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net	1,371	1,120
Increase in Deferred Rent Receivable	(3,303)	(3,931)
Decrease in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits	(13,889)	(3,647)
Payments of Discounts Associated with Retirement of Debt	(554)	0
Net Cash Provided by Operating Activities	74,124	74,702
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of Real Estate	(71,223)	(26,474)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs	(67,176)	(55,157)
Net Proceeds from Sales of Investments in Real Estate	96,849	41,211
Contributions to and Investments in Joint Ventures	0	(13)
Distributions from Joint Ventures	0	126
Settlement of Interest Rate Protection Agreements	0	(11,546)
Repayments of Notes Receivable	0	2,720
Decrease in Escrows	12,457	781
Net Cash Used in Investing Activities	(29,093)	(48,352)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of Financing and Stock Issuance Costs	(375)	(2,152)
Proceeds from Issuance of Common Stock / Contribution of General Partner Units	124,936	0
Repurchase and Retirement of Restricted Stock/Units	(5,230)	(2,101)
Common Stock Dividends and Unit Distributions Paid	(36,658)	(26,460)
Repayments on Mortgage Loans Payable	(63,690)	(5,996)
Repayments of Senior Unsecured Notes	(159,125)	0
Proceeds from Unsecured Credit Facility	343,000	76,000
Repayments on Unsecured Credit Facility	(247,500)	(70,000)
Net Cash Used in Financing Activities	(44,642)	(30,709)
Net Effect of Exchange Rate Changes on Cash and Cash Equivalents	0	(14)
Net Increase (Decrease) in Cash and Cash Equivalents	389	(4,359)
Cash and Cash Equivalents, Beginning of Year	3,987	9,500
Cash and Cash Equivalents, End of Year	4,376	5,127
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:
Interest Expense Capitalized in Connection with Development Activity	1,319	1,025
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Dividends and Distributions Payable	23,284
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock/General Partner Units	0	0
Assumption of Indebtedness and Other Liabilities in Connection with the Acquisition of Real Estate	5,127	295
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate	25,518	16,863
Write-off of Fully Depreciated Assets	(25,543)	(20,146)
Noncontrolling Interest
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	2,486
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock/General Partner Units	(107)	(100)
Common Stock
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock/General Partner Units	0
Additional Paid-in- Capital
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock/General Partner Units	107	100
Common Stock
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Dividends and Distributions Payable	23,284	14,970
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock/General Partner Units	107	100
First Industrial, L.P.
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	68,403	17,149
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation	49,084	46,315
Amortization of Deferred Financing Costs	1,655	1,510
Other Amortization	14,892	14,349
Provision for Bad Debt	491	600
Equity in Income of Joint Ventures	0	(67)
Gain on Sale of Real Estate	(44,026)	(10,127)
Mark-to-Market Loss on Interest Rate Protection Agreements	0	11,546
Decrease in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net	1,530	489
Increase in Deferred Rent Receivable	(3,303)	(3,931)
Decrease in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits	(13,889)	(3,633)
Payments of Discounts Associated with Retirement of Debt	(554)	0
Net Cash Provided by Operating Activities	74,283	74,200
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of Real Estate	(71,223)	(26,474)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs	(67,176)	(55,157)
Net Proceeds from Sales of Investments in Real Estate	96,849	41,211
Contributions to and Investments in Joint Ventures	0	(13)
Distributions from Joint Ventures	0	126
Settlement of Interest Rate Protection Agreements	0	(11,546)
Repayments of Notes Receivable	0	2,720
Decrease in Escrows	12,457	1,306
Net Cash Used in Investing Activities	(29,093)	(47,827)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of Financing and Stock Issuance Costs	(375)	(2,152)
Proceeds from Issuance of Common Stock / Contribution of General Partner Units	124,936	0
Repurchase and Retirement of Restricted Stock/Units	(5,230)	(2,101)
Common Stock Dividends and Unit Distributions Paid	(36,658)	(26,460)
Contributions from Noncontrolling Interests	15	10
Distributions to Noncontrolling Interests	(174)	(36)
Repayments on Mortgage Loans Payable	(63,690)	(5,996)
Repayments of Senior Unsecured Notes	(159,125)	0
Proceeds from Unsecured Credit Facility	343,000	76,000
Repayments on Unsecured Credit Facility	(247,500)	(70,000)
Net Cash Used in Financing Activities	(44,801)	(30,735)
Net Effect of Exchange Rate Changes on Cash and Cash Equivalents	0	(14)
Net Increase (Decrease) in Cash and Cash Equivalents	389	(4,362)
Cash and Cash Equivalents, Beginning of Year	3,987	9,485
Cash and Cash Equivalents, End of Year	4,376	5,109
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:
Interest Expense Capitalized in Connection with Development Activity	1,319	1,025
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Dividends and Distributions Payable	23,284
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock/General Partner Units	0	0
Assumption of Indebtedness and Other Liabilities in Connection with the Acquisition of Real Estate	5,127	295
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate	25,518	16,863
Write-off of Fully Depreciated Assets	(25,543)	(20,146)
First Industrial, L.P. | Noncontrolling Interest
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	74
First Industrial, L.P. | Limited Partner Units
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	2,486
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock/General Partner Units	(107)	(100)
First Industrial, L.P. | General Partner Units
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	65,843
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock/General Partner Units	107	100
First Industrial, L.P. | Common Stock
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Dividends and Distributions Payable	$ 23,284	$ 14,970

Organization

Organization	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization First Industrial Realty Trust, Inc. (the "Company") is a self-administered and fully integrated real estate company which owns, manages, acquires, sells, develops and redevelops industrial real estate. The Company is a Maryland corporation organized on August 10, 1993 and a real estate investment trust ("REIT") as defined in the Internal Revenue Code of 1986. Unless stated otherwise or the context otherwise requires, the terms "we," "our" and "us" refer to the Company and its subsidiaries, including its operating partnership, First Industrial, L.P. (the "Operating Partnership"), and its consolidated subsidiaries. We began operations on July 1, 1994. The Company's operations are conducted primarily through the Operating Partnership, of which the Company is the sole general partner (the "General Partner"), with an approximate 96.5% ownership interest ("General Partner Units") at June 30, 2016. The Operating Partnership also conducts operations through eight other limited partnerships (the "Other Real Estate Partnerships"), numerous limited liability companies ("LLCs") and certain taxable REIT subsidiaries ("TRSs"), the operating data of which, together with that of the Operating Partnership, is consolidated with that of the Company as presented herein. The Operating Partnership holds at least a 99% limited partnership interest in each of the Other Real Estate Partnerships. The general partners of the Other Real Estate Partnerships are separate corporations, wholly-owned by the Company, each with at least a .01% general partnership interest in the Other Real Estate Partnerships. The Company does not have any significant assets or liabilities other than its investment in the Operating Partnership and its 100% ownership interest in the general partners of the Other Real Estate Partnerships. Noncontrolling interest in the Operating Partnership of approximately 3.5% ("Limited Partner Units" and together with the General Partner Units, the "Units") at June 30, 2016 represents the aggregate partnership interest held by the limited partners thereof. Profits, losses and distributions of the Operating Partnership, the LLCs, the Other Real Estate Partnerships and the TRSs are allocated to the general partner and the limited partners, the members or the shareholders, as applicable, of such entities in accordance with the provisions contained within their respective organizational documents. As of June 30, 2016, we owned 562 industrial properties located in 24 states, containing an aggregate of approximately 62.9 million square feet of gross leasable area ("GLA"). Of the 562 properties owned on a consolidated basis, none of them are directly owned by the Company.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the accounting policies described in the consolidated financial statements and related notes included in our annual report on Form 10-K for the year ended December 31, 2015 ("2015 Form 10-K") and should be read in conjunction with such consolidated financial statements and related notes. The 2015 year end consolidated balance sheet data included in this Form 10-Q filing was derived from the audited consolidated financial statements in our 2015 Form 10-K, but does not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP"). The following notes to these interim consolidated financial statements highlight significant changes to the notes included in the December 31, 2015 audited consolidated financial statements included in our 2015 Form 10-K and present interim disclosures as required by the Securities and Exchange Commission ("SEC"). Use of Estimates In order to conform with GAAP, in preparation of our consolidated financial statements we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of June 30, 2016 and December 31, 2015, and the reported amounts of revenues and expenses for the three and six months ended June 30, 2016 and 2015. Actual results could differ from those estimates. In our opinion, the accompanying unaudited interim consolidated financial statements reflect all adjustments necessary for a fair statement of our financial position as of June 30, 2016 and December 31, 2015, the results of our operations and comprehensive income for each of the three and six months ended June 30, 2016 and 2015, and our cash flows for each of the six months ended June 30, 2016 and 2015; all adjustments are of a normal recurring nature. Reclassifications Interest income, which was included in other income and expense on the consolidated statement of operations for the three and six months ended June 30, 2015, has been reclassified to be included in tenant recoveries and other income to conform to the 2016 presentation. Deferred Financing Costs Effective January 1, 2016, we adopted Accounting Standards Update ("ASU") No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03"), which amended the presentation of debt issuance costs on a consolidated balance sheet. ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts, instead of as an asset. The recognition and measurement guidance for debt issuance costs are not affected by this update. Debt issuance costs related to revolving credit agreements are not within the scope of this new guidance. The Financial Accounting Standards Board ("FASB") issued ASU No. 2015-15,"Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements" ("ASU 2015-15"), which expanded upon ASU 2015-03. ASU 2015-15 stated that given the absence of authoritative guidance within 2015-03, the SEC staff would not object to deferring and presenting debt issuance costs as an asset for revolving credit agreements and subsequently amortizing the deferred issuance costs ratably over the term of the arrangement, regardless of whether there are any outstanding borrowings on the revolving credit agreement. The adoption of ASU 2015-03 was applied retrospectively. See Note 4 for more information about the reclassification of our debt issuance costs. The debt issuance costs related to our unsecured credit facility (the "Unsecured Credit Facility") remain classified as an asset and are included in prepaid expenses and other assets, net on the consolidated balance sheets. Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"). ASU 2014-09 requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those good or services. For the real estate industry, leasing transactions are not within the scope of the new standard. A majority of our tenant-related revenue is recognized pursuant to lease agreements. The FASB has subsequently issued several additional ASUs to clarify the implementation guidance on principal versus agent considerations, identifying performance obligations, assessing collectability, presentation of sales taxes and other similar taxes collected from customers, non-cash consideration, contract modifications and completed contracts at transition. These ASUs are effective for annual periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is permitted for annual periods beginning after December 15, 2016. We are currently evaluating the impact of the adoption of these ASUs on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, "Leases" ("ASU 2016-02"), which amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within that reporting period. Early application is permitted. ASU 2016-02 requires the use of a modified retrospective approach for all leases existing at, or entered into after, the beginning of the earliest period presented in the consolidated financial statements, with certain practical expedients available. We are currently evaluating the impact of the adoption of ASU 2016-02 on our consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09"). ASU 2016-09 intends to simplify several aspects of the accounting for share-based payment transactions, including the accounting for income taxes, the classification of certain items on the statement of cash flows, statutory tax withholding requirements and the accounting for forfeitures. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is permitted. The adoption of ASU 2016-09 is not expected to impact our consolidated financial statements.

Investment in Real Estate

Investment in Real Estate	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
Investment in Real Estate	Investment in Real Estate Acquisitions During the six months ended June 30, 2016, we acquired two industrial properties comprising approximately 0.3 million square feet of GLA and several land parcels. The purchase price of these acquisitions totaled approximately $74,755 , excluding costs incurred in conjunction with the acquisition of the industrial properties and land parcels. The revenue and net income associated with the acquisition of the industrial properties, since their respective acquisition dates, are not significant for the six months ended June 30, 2016. The following table summarizes the fair value of amounts recognized for each major class of asset and liability for the industrial properties and land parcels acquired during the six months ended June 30, 2016: Purchase Price Weighted Average Life (in Months) Land $ 55,177 N/A Building and Improvements 17,693 (A) Other Assets 335 (B) In-Place Leases 1,882 101 Above Market Leases 197 32 Assumed Mortgage Loan Premium (See Note 4) (529 ) 44 Total Purchase Price $ 74,755 Assumed Mortgage Loan (See Note 4) (4,513 ) Total Net Assets Acquired $ 70,242 (A) See Note 2 to the consolidated financial statements in our 2015 Form 10-K for the disclosure of useful lives of our Investment in Real Estate and our Depreciation policy. (B) Represents leasing commissions, which are included in prepaid expenses and other assets, net on the consolidated balance sheets and amortized over the remaining term of each lease. Sales During the six months ended June 30, 2016, we sold 31 industrial properties comprising approximately 2.0 million square feet of GLA. Gross proceeds from the sales of these industrial properties were approximately $100,485 . The gain on sale of real estate was approximately $44,026 .

Indebtedness

Indebtedness	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Indebtedness	Indebtedness The following table discloses certain information regarding our indebtedness: Outstanding Balance at Interest Rate at June 30, 2016 Effective Interest Rate at Issuance Maturity Date June 30, 2016 December 31, 2015 Mortgage Loans Payable, Gross $ 505,714 $ 564,891 4.03% – 8.26% 3.82% – 8.26% June 2018 – September 2022 Unamortized Deferred Financing Costs (3,385 ) (3,714 ) Unamortized Premiums 509 64 Mortgage Loans Payable, Net $ 502,838 $ 561,241 Senior Unsecured Notes, Gross 2016 Notes $ — $ 159,679 N/A N/A 1/15/2016 2017 Notes 54,981 54,981 7.50% 7.52% 12/1/2017 2027 Notes 6,070 6,070 7.15% 7.11% 5/15/2027 2028 Notes 31,901 31,901 7.60% 8.13% 7/15/2028 2032 Notes 10,600 10,600 7.75% 7.87% 4/15/2032 2017 II Notes 101,871 101,871 5.95% 6.37% 5/15/2017 Subtotal $ 205,423 $ 365,102 Unamortized Deferred Financing Costs (407 ) (499 ) Unamortized Discounts (125 ) (146 ) Senior Unsecured Notes, Net $ 204,891 $ 364,457 Unsecured Term Loans, Gross 2014 Unsecured Term Loan (A) $ 200,000 $ 200,000 3.99% N/A 1/29/2021 2015 Unsecured Term Loan (A) 260,000 260,000 3.39% N/A 9/12/2022 Subtotal $ 460,000 $ 460,000 Unamortized Deferred Financing Costs (3,696 ) (4,030 ) Unsecured Term Loans, Net $ 456,304 $ 455,970 Unsecured Credit Facility (B) $ 148,000 $ 52,500 1.61% N/A 3/11/2019 (A) The interest rate at June 30, 2016 reflects the interest rate protection agreements we entered into to effectively convert the variable rate to a fixed rate. See Note 10. (B) The maturity date may be extended an additional year at our election, subject to certain restrictions. Amounts exclude unamortized deferred financing costs of $3,540 and $4,204 as of June 30, 2016 and December 31, 2015, respectively, which are included in prepaid expenses and other assets, net on the consolidated balance sheets. Mortgage Loans Payable, Net During the six months ended June 30, 2016, we assumed a mortgage loan in the amount of $4,513 in conjunction with the acquisition of one industrial property, totaling approximately 0.1 million square feet of GLA. The mortgage loan bears interest at a fixed rate of 7.35% , principal payments are amortized over 25 years and the loan matures in September 2019. In conjunction with the assumption of the mortgage loan, we recorded a premium in the amount of $529 , which will be amortized as an adjustment to interest expense through maturity. Additionally, during the six months ended June 30, 2016, we paid off a mortgage loan in the amount of $57,901 . As of June 30, 2016, mortgage loans payable are collateralized, and in some instances cross-collateralized, by industrial properties with a net carrying value of $670,417 . We believe the Operating Partnership and the Company were in compliance with all covenants relating to mortgage loans as of June 30, 2016. Senior Unsecured Notes, Net During the six months ended June 30, 2016, we paid off and retired our 2016 Notes, at maturity, in the amount of $159,679 . Indebtedness The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums, discounts and deferred financing costs, for the next five years as of June 30, and thereafter: Amount Remainder of 2016 $ 5,760 2017 168,849 2018 168,477 2019 228,561 2020 90,857 Thereafter 656,633 Total $ 1,319,137 The Unsecured Credit Facility, the Unsecured Term Loans (as defined in Note 10) and the indentures governing our senior unsecured notes contain certain financial covenants, including limitations on incurrence of debt and debt service coverage. Under the Unsecured Credit Facility and the Unsecured Term Loans, an event of default can occur if the lenders, in their good faith judgment, determine that a material adverse change has occurred which could prevent timely repayment or materially impair our ability to perform our obligations under the loan agreements. We believe that the Operating Partnership and the Company were in compliance with all covenants relating to the Unsecured Credit Facility, the Unsecured Term Loans and indentures governing our senior unsecured notes as of June 30, 2016. However, these financial covenants are complex and there can be no assurance that these provisions would not be interpreted by our lenders and noteholders in a manner that could impose and cause us to incur material costs. Fair Value At June 30, 2016 and December 31, 2015, the fair value of our indebtedness was as follows: June 30, 2016 December 31, 2015 Carrying Amount (A) Fair Value Carrying Amount (A) Fair Value Mortgage Loans Payable, Net $ 506,223 $ 536,323 $ 564,955 $ 595,964 Senior Unsecured Notes, Net 205,298 230,282 364,956 386,253 Unsecured Term Loans 460,000 458,481 460,000 460,970 Unsecured Credit Facility 148,000 148,000 52,500 52,500 Total $ 1,319,521 $ 1,373,086 $ 1,442,411 $ 1,495,687 (A) The carrying amounts include unamortized premiums and discounts and exclude unamortized deferred financing costs. The fair values of our mortgage loans payable were determined by discounting the future cash flows using the current rates at which similar loans would be made based upon similar remaining maturities. The current market rates we utilized were internally estimated. The fair value of the senior unsecured notes were determined by using rates, as advised by our bankers, that are based upon recent trades within the same series of the senior unsecured notes, recent trades for senior unsecured notes with comparable maturities, recent trades for fixed rate unsecured notes from companies with profiles similar to ours, as well as overall economic conditions. The fair value of the Unsecured Credit Facility and the Unsecured Term Loans was determined by discounting the future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining term, assuming no repayment until maturity. We have concluded that our determination of fair value for each of our mortgage loans payable, senior unsecured notes, the Unsecured Term Loans and the Unsecured Credit Facility was primarily based upon Level 3 inputs.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2016
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities During the year ended December 31, 2015, the Operating Partnership adopted ASU No. 2015-02, "Consolidation (Topic 810) - Amendments to the Consolidation Analysis,” which modified the analysis it must perform to determine whether it should consolidate certain types of legal entities. The guidance does not amend the existing disclosure requirements for variable interest entities ("VIEs") or voting interest model entities. The guidance, however, modified the requirements to qualify under the voting interest model. Under the revised guidance, the Other Real Estate Partnerships are variable interest entities of the Operating Partnership and the Operating Partnership is the primary beneficiary, thus causing the Other Real Estate Partnerships to be consolidated by the Operating Partnership. In addition, the Operating Partnership is a VIE of the Company under the revised guidance and the Company is the primary beneficiary. Because the Operating Partnership was already consolidated in the balance sheets of the Company, the revised guidance has no impact on the consolidated financial statements of the Company. There were no other legal entities qualifying under the scope of the revised guidance that were consolidated as a result of the adoption. In addition, there were no voting interest entities under prior existing guidance determined to be VIEs under the revised guidance. The following table summarizes the assets and liabilities of the Other Real Estate Partnerships included in our consolidated balance sheets: June 30, 2016 December 31, 2015 ASSETS Assets: Net Investment in Real Estate $ 295,516 $ 306,866 Other Assets, Net 21,142 20,104 Total Assets $ 316,658 $ 326,970 LIABILITIES AND PARTNERS’ CAPITAL Liabilities: Mortgage Loans Payable, Net $ 71,099 $ 77,071 Other Liabilities, Net 42,836 43,103 Partners’ Capital 202,723 206,796 Total Liabilities and Partners’ Capital $ 316,658 $ 326,970

Stockholders_ Equity of the Com

Stockholders’ Equity of the Company and Partners' Capital of the Operating Partnership	6 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity of the Company and Partners' Capital of the Operating Partnership	Stockholders’ Equity of the Company and Partners' Capital of the Operating Partnership Issuance of Shares of Common Stock During the six months ended June 30, 2016, the Company issued 5,600,000 shares of the Company's common stock in an underwritten public offering. Proceeds to the Company, net of the underwriter's discount, were $124,936 . The proceeds were contributed to the Operating Partnership in exchange for General Partner Units and will be reflected in the financial statements as a general partner contribution. Conversion of Limited Partner Units into Shares of Common Stock For the six months ended June 30, 2016 and 2015, 10,697 and 10,395 Limited Partner Units, respectively, were converted into an equivalent number of shares of common stock of the Company, resulting in a reclassification of $107 and $100 , respectively, of noncontrolling interest to the Company’s stockholders’ equity. Noncontrolling Interest of the Company The following table summarizes the changes in noncontrolling interest for the Company for the six months ended June 30, 2016 and 2015: June 30, 2016 June 30, 2015 Balance as of December 31, 2015 $ 42,035 $ 41,877 Net Income 2,486 649 Unit Distributions (1,632 ) (1,113 ) Other Comprehensive (Loss) Income (Including a Reallocation of $36 and $2) (598 ) 248 Conversion of Limited Partner Units to Common Stock (107 ) (100 ) Reallocation - Additional Paid-in-Capital 2,434 13 Balance as of June 30, 2016 $ 44,618 $ 41,574 Noncontrolling Interest of the Operating Partnership The following table summarizes the changes in noncontrolling interest for the Operating Partnership for the six months ended June 30, 2016 and 2015: June 30, 2016 June 30, 2015 Balance as of December 31, 2015 $ 1,096 $ 1,080 Net Income 74 48 Contributions 15 10 Distributions (174 ) (36 ) Balance as of June 30, 2016 $ 1,011 $ 1,102 Dividends/Distributions During the six months ended June 30, 2016, we declared $45,130 common stock dividends and Unit distributions.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated other comprehensive loss by component for the Company and the Operating Partnership for the six months ended June 30, 2016: Interest Rate Protection Agreements Accumulated Other Comprehensive Loss of the Operating Partnership Comprehensive Loss Attributable to Noncontrolling Interest of the Company Accumulated Other Comprehensive Loss of the Company Balance as of December 31, 2015 $ (10,043 ) $ (10,043 ) $ 376 $ (9,667 ) Other Comprehensive Loss Before Reclassifications (21,267 ) (21,267 ) 598 (20,669 ) Amounts Reclassified from Accumulated Other Comprehensive Loss 3,849 3,849 — 3,849 Net Current Period Other Comprehensive Loss (17,418 ) (17,418 ) 598 (16,820 ) Balance as of June 30, 2016 $ (27,461 ) $ (27,461 ) $ 974 $ (26,487 ) The following table summarizes the reclassifications out of accumulated other comprehensive loss for both the Company and the Operating Partnership for the three and six months ended June 30, 2016 and 2015: Amounts Reclassified from Accumulated Other Comprehensive Loss Details about Accumulated Other Comprehensive Loss Components Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Affected Line Items in the Consolidated Statements of Operations Interest Rate Protection Agreements: Reclassification of Fair Value of Interest Rate Protection Agreements (See Note 10) $ — $ — $ — $ 12,990 Mark-to-Market Loss on Interest Rate Protection Agreements Amortization of Interest Rate Protection Agreements (Previously Settled) 96 131 198 262 Interest Expense Settlement Payments to our Counterparties 1,815 1,064 3,651 2,121 Interest Expense Total $ 1,911 $ 1,195 3,849 15,373 The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in other comprehensive income (loss) and is subsequently reclassified to earnings through interest expense over the life of the derivative or over the life of the debt. In the next 12 months, we expect to amortize approximately $349 into net income by increasing interest expense for interest rate protection agreements we settled in previous periods. Additionally, recurring settlement amounts on the 2014 and 2015 Swaps (as defined in Note 10) will also be reclassified to net income. See Note 10 for more information about our derivatives.

Earnings Per Share _ Unit (EPS

Earnings Per Share / Unit (EPS / EPU)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share / Unit (EPS / EPU)	Earnings Per Share and Earnings Per Unit ("EPS"/"EPU") The computation of basic and diluted EPS of the Company is presented below: Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Numerator: Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities $ 50,229 $ 14,012 $ 65,917 $ 16,385 Net Income Allocable to Participating Securities (180 ) (50 ) (217 ) (91 ) Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders $ 50,049 $ 13,962 $ 65,700 $ 16,294 Denominator (In Thousands): Weighted Average Shares - Basic 116,191 110,348 113,492 110,329 Effect of Dilutive Securities: LTIP Unit Awards (As Defined in Note 9) 367 335 279 350 Weighted Average Shares - Diluted 116,558 110,683 113,771 110,679 Basic and Diluted EPS: Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders $ 0.43 $ 0.13 $ 0.58 $ 0.15 The computation of basic and diluted EPU of the Operating Partnership is presented below: Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Numerator: Net Income Available to Unitholders and Participating Securities $ 52,048 $ 14,644 $ 68,329 $ 17,101 Net Income Allocable to Participating Securities (180 ) (50 ) (217 ) (91 ) Net Income Available to Unitholders $ 51,868 $ 14,594 $ 68,112 $ 17,010 Denominator (In Thousands): Weighted Average Units - Basic 120,486 114,712 117,791 114,697 Effect of Dilutive Securities that Result in the Issuance of General Partner Units: LTIP Unit Awards (As Defined in Note 9) 367 335 279 350 Weighted Average Units - Diluted 120,853 115,047 118,070 115,047 Basic and Diluted EPU: Net Income Available to Unitholders $ 0.43 $ 0.13 $ 0.58 $ 0.15 Participating securities include 418,366 and 388,866 of unvested restricted stock or restricted Unit awards outstanding at June 30, 2016 and 2015, respectively, which participate in non-forfeitable distributions. Under the two class method, participating security holders are allocated income, in proportion to total weighted average shares or Units outstanding, based upon the greater of net income or common stock dividends or Unit distributions declared.

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 30, 2016
Share-based Compensation [Abstract]
Benefit Plans	Benefit Plans Restricted Stock or Restricted Unit Awards For the six months ended June 30, 2016, the Company awarded 308,373 shares of restricted stock awards to certain employees, which had a fair value of $6,047 on the date such awards were approved by the Compensation Committee of the Board of Directors. These restricted stock awards were granted based upon the achievement of certain corporate performance goals and generally vest over a period of three years. Additionally, during the six months ended June 30, 2016, the Company awarded 14,460 shares of restricted stock to non-employee members of the Board of Directors, which had a fair value of $350 on the date of approval. These restricted stock awards vest over a one -year period. The Operating Partnership issued restricted Unit awards to the Company in the same amount for both restricted stock awards. Compensation expense is charged to earnings over the vesting periods for the restricted stock or restricted Unit awards expected to vest except if the recipient is not required to provide future service in exchange for vesting of such restricted stock or restricted Unit awards. If vesting of a recipient's restricted stock or restricted Unit awards is not contingent upon future service, the expense is recognized immediately at the date of grant. During the six months ended June 30, 2016 and 2015, we recognized $1,590 and $1,250 , respectively, of compensation expense related to restricted stock or restricted Unit awards granted to our Chief Executive Officer for which future service was not required. LTIP Unit Awards For the six months ended June 30, 2016, the Company granted 254,524 Long-Term Incentive Program ("LTIP") performance units ("LTIP Unit Awards") to certain employees, which had a fair value of $2,561 on the grant date as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation. The LTIP Unit Awards vest based upon the relative total shareholder return ("TSR") of the Company's common stock compared to the TSRs of the MSCI US REIT Index and the NAREIT Industrial Index. The TSR for the LTIP Unit Awards is calculated based on the performance period from January 1, 2016 through December 31, 2018. Compensation expense is charged to earnings on a straight-line basis over the performance period. At the end of the performance period each participant will be issued shares of the Company's common stock equal to the maximum shares issuable to the participant for the performance period multiplied by a percentage, ranging from 0% to 100% , based on the Company's TSR as compared to the TSRs of the MSCI US REIT Index and the NAREIT Industrial Index. The participant is also entitled to dividend equivalents for shares issued pursuant to vested LTIP Unit Awards. The dividend equivalents represent any common dividends that would have been paid with respect to such issued shares after the grant of the LTIP Unit Awards and prior to the date of settlement. The Operating Partnership issues General Partner Units to the Company in the same amounts for vested LTIP Unit Awards. Outstanding Restricted Stock or Restricted Unit Awards and LTIP Unit Awards We recognized $1,507 and $1,506 for the three months ended June 30, 2016 and 2015, and $4,470 and $4,067 for the six months ended June 30, 2016 and 2015, respectively, in amortization related to restricted stock or restricted Unit awards and LTIP Unit Awards. Restricted stock or restricted Unit award and LTIP Unit Award amortization capitalized in connection with development activities was not significant. At June 30, 2016, we had $9,919 in unrecognized compensation related to unvested restricted stock or restricted Unit awards and LTIP Unit Awards. The weighted average period that the unrecognized compensation is expected to be recognized is 1.05 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the normal course of business, we are involved in legal actions arising from the ownership of our industrial properties. In our opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a materially adverse effect on our consolidated financial position, operations or liquidity. In conjunction with the development of industrial properties, we have entered into agreements with general contractors for the construction of industrial properties. At June 30, 2016, we had three industrial properties totaling approximately 1.0 million square feet of GLA under construction. The estimated total investment as of June 30, 2016 is approximately $77,200 . Of this amount, approximately $51,200 remains to be funded. There can be no assurance that the actual completion cost will not exceed the estimated total investment.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Our objectives in using derivatives are to add stability to interest expense and to manage our cash flow volatility and exposure to interest rate movements. To accomplish this objective, we primarily use interest rate protection agreements as part of our interest rate risk management strategy. Interest rate protection agreements designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. In connection with the originations of the seven -year, $200,000 unsecured loan (the "2014 Unsecured Term Loan") and the seven -year, $260,000 unsecured loan (the "2015 Unsecured Term Loan" and together with the 2014 Unsecured Term Loan, the "Unsecured Term Loans") (See Note 4) , we entered into interest rate protection agreements to manage our exposure to changes in the one month LIBOR rate. The four interest rate protection agreements, which fix the variable rate of the 2014 Unsecured Term Loan, have an aggregate notional value of $200,000 , mature on January 29, 2021 and fix the LIBOR rate at a weighted average rate of 2.29% (the "2014 Swaps"). The six interest rate protection agreements, which fix the variable rate of the 2015 Unsecured Term Loan, have an aggregate notional value of $260,000 , mature on September 12, 2022 and fix the LIBOR rate at a weighted average rate of 1.79% (the "2015 Swaps"). We designated the 2014 and 2015 Swaps as cash flow hedges. Our agreements with our derivative counterparties contain provisions where if we default on any of our indebtedness, then we could also be declared in default on our derivative obligations subject to certain thresholds. As of June 30, 2016, we had not posted any collateral related to these agreements and were not in breach of any of the agreement provisions. If we had breached these provisions, we could have been required to settle our obligations under the agreements at their termination value. The following table sets forth our financial liabilities related to the 2014 and 2015 Swaps, which are included in accounts payable, accrued expenses and other liabilities on the consolidated balance sheets and are accounted for at fair value on a recurring basis as of June 30, 2016: Fair Value Measurements at Reporting Date Using: Description Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Liabilities: Derivatives designated as a hedging instrument: 2014 Swaps $ (13,318 ) — $ (13,318 ) — 2015 Swaps $ (12,742 ) — $ (12,742 ) — There was no ineffectiveness recorded on the 2014 and 2015 Swaps during the six months ended June 30, 2016. See Note 7 for more information regarding our derivatives. The estimated fair value of the 2014 and 2015 Swaps was determined using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments are incorporated in the fair value to account for potential non-performance risk, including our own non-performance risk and the respective counterparty’s non-performance risk. We determined that the significant inputs used to value the 2014 and 2015 Swaps fell within Level 2 of the fair value hierarchy.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events From July 1, 2016 to July 28, 2016, we acquired one industrial property and one land parcel for a purchase price of approximately $14,905 , excluding costs incurred in conjunction with such acquisitions.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the accounting policies described in the consolidated financial statements and related notes included in our annual report on Form 10-K for the year ended December 31, 2015 ("2015 Form 10-K") and should be read in conjunction with such consolidated financial statements and related notes. The 2015 year end consolidated balance sheet data included in this Form 10-Q filing was derived from the audited consolidated financial statements in our 2015 Form 10-K, but does not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP"). The following notes to these interim consolidated financial statements highlight significant changes to the notes included in the December 31, 2015 audited consolidated financial statements included in our 2015 Form 10-K and present interim disclosures as required by the Securities and Exchange Commission ("SEC").
Use of Estimates	Use of Estimates In order to conform with GAAP, in preparation of our consolidated financial statements we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of June 30, 2016 and December 31, 2015, and the reported amounts of revenues and expenses for the three and six months ended June 30, 2016 and 2015. Actual results could differ from those estimates. In our opinion, the accompanying unaudited interim consolidated financial statements reflect all adjustments necessary for a fair statement of our financial position as of June 30, 2016 and December 31, 2015, the results of our operations and comprehensive income for each of the three and six months ended June 30, 2016 and 2015, and our cash flows for each of the six months ended June 30, 2016 and 2015; all adjustments are of a normal recurring nature.
Reclassifications	Reclassifications Interest income, which was included in other income and expense on the consolidated statement of operations for the three and six months ended June 30, 2015, has been reclassified to be included in tenant recoveries and other income to conform to the 2016 presentation.
Deferred Financing Costs	Deferred Financing Costs Effective January 1, 2016, we adopted Accounting Standards Update ("ASU") No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03"), which amended the presentation of debt issuance costs on a consolidated balance sheet. ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts, instead of as an asset. The recognition and measurement guidance for debt issuance costs are not affected by this update. Debt issuance costs related to revolving credit agreements are not within the scope of this new guidance. The Financial Accounting Standards Board ("FASB") issued ASU No. 2015-15,"Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements" ("ASU 2015-15"), which expanded upon ASU 2015-03. ASU 2015-15 stated that given the absence of authoritative guidance within 2015-03, the SEC staff would not object to deferring and presenting debt issuance costs as an asset for revolving credit agreements and subsequently amortizing the deferred issuance costs ratably over the term of the arrangement, regardless of whether there are any outstanding borrowings on the revolving credit agreement. The adoption of ASU 2015-03 was applied retrospectively. See Note 4 for more information about the reclassification of our debt issuance costs. The debt issuance costs related to our unsecured credit facility (the "Unsecured Credit Facility") remain classified as an asset and are included in prepaid expenses and other assets, net on the consolidated balance sheets.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"). ASU 2014-09 requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those good or services. For the real estate industry, leasing transactions are not within the scope of the new standard. A majority of our tenant-related revenue is recognized pursuant to lease agreements. The FASB has subsequently issued several additional ASUs to clarify the implementation guidance on principal versus agent considerations, identifying performance obligations, assessing collectability, presentation of sales taxes and other similar taxes collected from customers, non-cash consideration, contract modifications and completed contracts at transition. These ASUs are effective for annual periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is permitted for annual periods beginning after December 15, 2016. We are currently evaluating the impact of the adoption of these ASUs on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, "Leases" ("ASU 2016-02"), which amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within that reporting period. Early application is permitted. ASU 2016-02 requires the use of a modified retrospective approach for all leases existing at, or entered into after, the beginning of the earliest period presented in the consolidated financial statements, with certain practical expedients available. We are currently evaluating the impact of the adoption of ASU 2016-02 on our consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09"). ASU 2016-09 intends to simplify several aspects of the accounting for share-based payment transactions, including the accounting for income taxes, the classification of certain items on the statement of cash flows, statutory tax withholding requirements and the accounting for forfeitures. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is permitted. The adoption of ASU 2016-09 is not expected to impact our consolidated financial statements.

Investment in Real Estate (Tabl

Investment in Real Estate (Tables)	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
Summary of the Fair Value of Assets and Liabilities Acquired	The following table summarizes the fair value of amounts recognized for each major class of asset and liability for the industrial properties and land parcels acquired during the six months ended June 30, 2016: Purchase Price Weighted Average Life (in Months) Land $ 55,177 N/A Building and Improvements 17,693 (A) Other Assets 335 (B) In-Place Leases 1,882 101 Above Market Leases 197 32 Assumed Mortgage Loan Premium (See Note 4) (529 ) 44 Total Purchase Price $ 74,755 Assumed Mortgage Loan (See Note 4) (4,513 ) Total Net Assets Acquired $ 70,242 (A) See Note 2 to the consolidated financial statements in our 2015 Form 10-K for the disclosure of useful lives of our Investment in Real Estate and our Depreciation policy. (B) Represents leasing commissions, which are included in prepaid expenses and other assets, net on the consolidated balance sheets and amortized over the remaining term of each lease.

Indebtedness (Tables)

Indebtedness (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Summary of Indebtedness	The following table discloses certain information regarding our indebtedness: Outstanding Balance at Interest Rate at June 30, 2016 Effective Interest Rate at Issuance Maturity Date June 30, 2016 December 31, 2015 Mortgage Loans Payable, Gross $ 505,714 $ 564,891 4.03% – 8.26% 3.82% – 8.26% June 2018 – September 2022 Unamortized Deferred Financing Costs (3,385 ) (3,714 ) Unamortized Premiums 509 64 Mortgage Loans Payable, Net $ 502,838 $ 561,241 Senior Unsecured Notes, Gross 2016 Notes $ — $ 159,679 N/A N/A 1/15/2016 2017 Notes 54,981 54,981 7.50% 7.52% 12/1/2017 2027 Notes 6,070 6,070 7.15% 7.11% 5/15/2027 2028 Notes 31,901 31,901 7.60% 8.13% 7/15/2028 2032 Notes 10,600 10,600 7.75% 7.87% 4/15/2032 2017 II Notes 101,871 101,871 5.95% 6.37% 5/15/2017 Subtotal $ 205,423 $ 365,102 Unamortized Deferred Financing Costs (407 ) (499 ) Unamortized Discounts (125 ) (146 ) Senior Unsecured Notes, Net $ 204,891 $ 364,457 Unsecured Term Loans, Gross 2014 Unsecured Term Loan (A) $ 200,000 $ 200,000 3.99% N/A 1/29/2021 2015 Unsecured Term Loan (A) 260,000 260,000 3.39% N/A 9/12/2022 Subtotal $ 460,000 $ 460,000 Unamortized Deferred Financing Costs (3,696 ) (4,030 ) Unsecured Term Loans, Net $ 456,304 $ 455,970 Unsecured Credit Facility (B) $ 148,000 $ 52,500 1.61% N/A 3/11/2019 (A) The interest rate at June 30, 2016 reflects the interest rate protection agreements we entered into to effectively convert the variable rate to a fixed rate. See Note 10. (B) The maturity date may be extended an additional year at our election, subject to certain restrictions. Amounts exclude unamortized deferred financing costs of $3,540 and $4,204 as of June 30, 2016 and December 31, 2015, respectively, which are included in prepaid expenses and other assets, net on the consolidated balance sheets.
Schedule of Maturities	The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums, discounts and deferred financing costs, for the next five years as of June 30, and thereafter: Amount Remainder of 2016 $ 5,760 2017 168,849 2018 168,477 2019 228,561 2020 90,857 Thereafter 656,633 Total $ 1,319,137
Summary of Indebtedness at Estimated Fair Value	At June 30, 2016 and December 31, 2015, the fair value of our indebtedness was as follows: June 30, 2016 December 31, 2015 Carrying Amount (A) Fair Value Carrying Amount (A) Fair Value Mortgage Loans Payable, Net $ 506,223 $ 536,323 $ 564,955 $ 595,964 Senior Unsecured Notes, Net 205,298 230,282 364,956 386,253 Unsecured Term Loans 460,000 458,481 460,000 460,970 Unsecured Credit Facility 148,000 148,000 52,500 52,500 Total $ 1,319,521 $ 1,373,086 $ 1,442,411 $ 1,495,687 (A) The carrying amounts include unamortized premiums and discounts and exclude unamortized deferred financing costs.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2016
Variable Interest Entities [Abstract]
Condensed Balance Sheet	The following table summarizes the assets and liabilities of the Other Real Estate Partnerships included in our consolidated balance sheets: June 30, 2016 December 31, 2015 ASSETS Assets: Net Investment in Real Estate $ 295,516 $ 306,866 Other Assets, Net 21,142 20,104 Total Assets $ 316,658 $ 326,970 LIABILITIES AND PARTNERS’ CAPITAL Liabilities: Mortgage Loans Payable, Net $ 71,099 $ 77,071 Other Liabilities, Net 42,836 43,103 Partners’ Capital 202,723 206,796 Total Liabilities and Partners’ Capital $ 316,658 $ 326,970

Stockholders_ Equity of the C24

Stockholders’ Equity of the Company and Partners' Capital of the Operating Partnership (Tables)	6 Months Ended
	Jun. 30, 2016
Noncontrolling Interest Rollforward	The following table summarizes the changes in noncontrolling interest for the Company for the six months ended June 30, 2016 and 2015: June 30, 2016 June 30, 2015 Balance as of December 31, 2015 $ 42,035 $ 41,877 Net Income 2,486 649 Unit Distributions (1,632 ) (1,113 ) Other Comprehensive (Loss) Income (Including a Reallocation of $36 and $2) (598 ) 248 Conversion of Limited Partner Units to Common Stock (107 ) (100 ) Reallocation - Additional Paid-in-Capital 2,434 13 Balance as of June 30, 2016 $ 44,618 $ 41,574
First Industrial, L.P.
Noncontrolling Interest Rollforward	The following table summarizes the changes in noncontrolling interest for the Operating Partnership for the six months ended June 30, 2016 and 2015: June 30, 2016 June 30, 2015 Balance as of December 31, 2015 $ 1,096 $ 1,080 Net Income 74 48 Contributions 15 10 Distributions (174 ) (36 ) Balance as of June 30, 2016 $ 1,011 $ 1,102

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Loss [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table summarizes the changes in accumulated other comprehensive loss by component for the Company and the Operating Partnership for the six months ended June 30, 2016: Interest Rate Protection Agreements Accumulated Other Comprehensive Loss of the Operating Partnership Comprehensive Loss Attributable to Noncontrolling Interest of the Company Accumulated Other Comprehensive Loss of the Company Balance as of December 31, 2015 $ (10,043 ) $ (10,043 ) $ 376 $ (9,667 ) Other Comprehensive Loss Before Reclassifications (21,267 ) (21,267 ) 598 (20,669 ) Amounts Reclassified from Accumulated Other Comprehensive Loss 3,849 3,849 — 3,849 Net Current Period Other Comprehensive Loss (17,418 ) (17,418 ) 598 (16,820 ) Balance as of June 30, 2016 $ (27,461 ) $ (27,461 ) $ 974 $ (26,487 )
Reclassification Out of Accumulated Other Comprehensive Loss	The following table summarizes the reclassifications out of accumulated other comprehensive loss for both the Company and the Operating Partnership for the three and six months ended June 30, 2016 and 2015: Amounts Reclassified from Accumulated Other Comprehensive Loss Details about Accumulated Other Comprehensive Loss Components Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Affected Line Items in the Consolidated Statements of Operations Interest Rate Protection Agreements: Reclassification of Fair Value of Interest Rate Protection Agreements (See Note 10) $ — $ — $ — $ 12,990 Mark-to-Market Loss on Interest Rate Protection Agreements Amortization of Interest Rate Protection Agreements (Previously Settled) 96 131 198 262 Interest Expense Settlement Payments to our Counterparties 1,815 1,064 3,651 2,121 Interest Expense Total $ 1,911 $ 1,195 3,849 15,373

Earnings Per Share _ Unit (EP26

Earnings Per Share / Unit (EPS / EPU) (Tables)	6 Months Ended
	Jun. 30, 2016
Computation of Basic and Diluted Earnings Per Share / Unit	The computation of basic and diluted EPS of the Company is presented below: Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Numerator: Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities $ 50,229 $ 14,012 $ 65,917 $ 16,385 Net Income Allocable to Participating Securities (180 ) (50 ) (217 ) (91 ) Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders $ 50,049 $ 13,962 $ 65,700 $ 16,294 Denominator (In Thousands): Weighted Average Shares - Basic 116,191 110,348 113,492 110,329 Effect of Dilutive Securities: LTIP Unit Awards (As Defined in Note 9) 367 335 279 350 Weighted Average Shares - Diluted 116,558 110,683 113,771 110,679 Basic and Diluted EPS: Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders $ 0.43 $ 0.13 $ 0.58 $ 0.15
First Industrial, L.P.
Computation of Basic and Diluted Earnings Per Share / Unit	The computation of basic and diluted EPU of the Operating Partnership is presented below: Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Numerator: Net Income Available to Unitholders and Participating Securities $ 52,048 $ 14,644 $ 68,329 $ 17,101 Net Income Allocable to Participating Securities (180 ) (50 ) (217 ) (91 ) Net Income Available to Unitholders $ 51,868 $ 14,594 $ 68,112 $ 17,010 Denominator (In Thousands): Weighted Average Units - Basic 120,486 114,712 117,791 114,697 Effect of Dilutive Securities that Result in the Issuance of General Partner Units: LTIP Unit Awards (As Defined in Note 9) 367 335 279 350 Weighted Average Units - Diluted 120,853 115,047 118,070 115,047 Basic and Diluted EPU: Net Income Available to Unitholders $ 0.43 $ 0.13 $ 0.58 $ 0.15

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value Measurements on Recurring Basis	The following table sets forth our financial liabilities related to the 2014 and 2015 Swaps, which are included in accounts payable, accrued expenses and other liabilities on the consolidated balance sheets and are accounted for at fair value on a recurring basis as of June 30, 2016: Fair Value Measurements at Reporting Date Using: Description Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Liabilities: Derivatives designated as a hedging instrument: 2014 Swaps $ (13,318 ) — $ (13,318 ) — 2015 Swaps $ (12,742 ) — $ (12,742 ) —

Organization - Additional Infor

Organization - Additional Information (Detail) ft² in Millions	6 Months Ended
	Jun. 30, 2016ft²PropertyState
Organization [Line Items]
Company's ownership interest	96.50%
Limited partners' ownership interest in the Operating Partnership	3.50%
Number of industrial properties owned | Property	562
Number of states in which industrial properties are located | State	24
Gross leasable area (GLA) of industrial properties owned | ft²	62.9
Other Real Estate Partnerships
Organization [Line Items]
Company's ownership interest	100.00%
Number of Other Real Estate Partnerships	8
Operating Partnership's minimum ownership interest in the Other Real Estate Partnerships	99.00%
General partners' minimum ownership interest in the Other Real Estate Partnerships	0.01%

Investment in Real Estate - Add

Investment in Real Estate - Additional Information (Detail) $ in Thousands, ft² in Millions	6 Months Ended
	Jun. 30, 2016USD ($)ft²Property
Real Estate [Abstract]
Number of industrial properties acquired | Property	2
Gross leasable area (GLA) of industrial properties acquired | ft²	0.3
Purchase price of industrial properties acquired	$ 74,755
Number of industrial properties sold | Property	31
Gross leasable area (GLA) of industrial properties sold | ft²	2
Proceeds from sale of industrial properties	$ 100,485
Gain on sale of real estate	$ 44,026

Investment in Real Estate - Sum

Investment in Real Estate - Summary of the Fair Value of Assets and Liabilities Acquired (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Real Estate [Abstract]
Land	$ 55,177
Building and Improvements	17,693	[1]
Other Assets	335	[2]
Acquired Finite-Lived Intangible Assets [Line Items]
Assumed Mortgage Loan Premium (See Note 4)	(529)
Total Purchase Price	74,755
Assumed Mortgage Loan (See Note 4)	(4,513)
Total Net Assets Acquired	$ 70,242
Assumed mortgage loan premium, weighted average life	44 months
In-Place Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite lived intangible assets, fair value	$ 1,882
Acquired finite lived intangible assets, weighted average life	101 months
Above Market Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite lived intangible assets, fair value	$ 197
Acquired finite lived intangible assets, weighted average life	32 months
[1]	See Note 2 to the consolidated financial statements in our 2015 Form 10-K for the disclosure of useful lives of our Investment in Real Estate and our Depreciation policy.
[2]	Represents leasing commissions, which are included in prepaid expenses and other assets, net on the consolidated balance sheets and amortized over the remaining term of each lease.

Indebtedness - Information Rega

Indebtedness - Information Regarding Indebtedness (Detail) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Mortgage Loans Payable, Net		$ 502,838	$ 561,241
Senior Unsecured Notes, Net		204,891	364,457
Unsecured Term Loans, Net		456,304	455,970
Unsecured Credit Facility		148,000	52,500
2016 Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Gross		$ 0	159,679
Maturity Date		Jan. 15, 2016
2017 Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Gross		$ 54,981	54,981
Interest Rate		7.50%
Effective Interest Rate		7.52%
Maturity Date		Dec. 1, 2017
2027 Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Gross		$ 6,070	6,070
Interest Rate		7.15%
Effective Interest Rate		7.11%
Maturity Date		May 15, 2027
2028 Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Gross		$ 31,901	31,901
Interest Rate		7.60%
Effective Interest Rate		8.13%
Maturity Date		Jul. 15, 2028
2032 Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Gross		$ 10,600	10,600
Interest Rate		7.75%
Effective Interest Rate		7.87%
Maturity Date		Apr. 15, 2032
2017 II Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Gross		$ 101,871	101,871
Interest Rate		5.95%
Effective Interest Rate		6.37%
Maturity Date		May 15, 2017
2014 Unsecured Term Loan (A)
Debt Instrument [Line Items]
Unsecured Term Loans, Gross	[1]	$ 200,000	200,000
Interest Rate	[1]	3.99%
Maturity Date	[1]	Jan. 29, 2021
2015 Unsecured Term Loan (A)
Debt Instrument [Line Items]
Unsecured Term Loans, Gross	[1]	$ 260,000	260,000
Interest Rate	[1]	3.39%
Maturity Date	[1]	Sep. 12, 2022
Mortgages
Debt Instrument [Line Items]
Mortgage Loans Payable, Gross		$ 505,714	564,891
Unamortized Deferred Financing Costs		(3,385)	(3,714)
Unamortized Premiums		509	64
Mortgage Loans Payable, Net		$ 502,838	561,241
Interest Rate, Minimum		4.03%
Interest Rate, Maximum		8.26%
Interest Rate		7.35%
Effective Interest Rate, Minimum		3.82%
Effective Interest Rate, Maximum		8.26%
Maturity Date Range, Start		Jun. 1, 2018
Maturity Date Range, End		Sep. 1, 2022
Senior Unsecured Notes
Debt Instrument [Line Items]
Unamortized Deferred Financing Costs		$ (407)	(499)
Senior Unsecured Notes, Gross		205,423	365,102
Unamortized Discounts		(125)	(146)
Senior Unsecured Notes, Net		204,891	364,457
Unsecured Term Loan
Debt Instrument [Line Items]
Unamortized Deferred Financing Costs		(3,696)	(4,030)
Unsecured Term Loans, Gross		460,000	460,000
Unsecured Term Loans, Net		456,304	455,970
Unsecured Credit Facility
Debt Instrument [Line Items]
Unamortized Deferred Financing Costs		(3,540)	(4,204)
Unsecured Credit Facility	[2]	$ 148,000	$ 52,500
Interest Rate	[2]	1.61%
Maturity Date	[2]	Mar. 11, 2019
[1]	The interest rate at June 30, 2016 reflects the interest rate protection agreements we entered into to effectively convert the variable rate to a fixed rate. See Note 10.
[2]	The maturity date may be extended an additional year at our election, subject to certain restrictions. Amounts exclude unamortized deferred financing costs of $3,540 and $4,204 as of June 30, 2016 and December 31, 2015, respectively, which are included in prepaid expenses and other assets, net on the consolidated balance sheets.

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) $ in Thousands, ft² in Millions	6 Months Ended
	Jun. 30, 2016USD ($)ft²Property	Dec. 31, 2015USD ($)
Debt Disclosure [Line Items]
Assumed mortgage loan	$ (4,513)
Number of industrial properties acquired | Property	2
Gross leasable area (GLA) of industrial properties acquired | ft²	0.3
Assumed mortgage, premium	$ (529)
2016 Notes
Debt Disclosure [Line Items]
Extinguishment of debt, amount	159,679
Mortgages
Debt Disclosure [Line Items]
Unamortized deferred financing costs	3,385	$ 3,714
Assumed mortgage loan	$ 4,513
Number of industrial properties acquired | Property	1
Gross leasable area (GLA) of industrial properties acquired | ft²	0.1
Assumed mortgage, fixed interest rate	7.35%
Assumed mortgage, term	25 years
Assumed mortgage, premium	$ 529
Extinguishment of debt, amount	57,901
Net carrying value of industrial properties collateralized by mortgage loans	670,417
Senior Unsecured Notes
Debt Disclosure [Line Items]
Unamortized deferred financing costs	407	499
Unsecured Term Loan
Debt Disclosure [Line Items]
Unamortized deferred financing costs	3,696	4,030
Unsecured Credit Facility
Debt Disclosure [Line Items]
Unamortized deferred financing costs	$ 3,540	$ 4,204

Indebtedness - Schedule of Matu

Indebtedness - Schedule of Maturities of Long-Term Debt (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Debt Disclosure [Abstract]
Remainder of 2016	$ 5,760
2,017	168,849
2,018	168,477
2,019	228,561
2,020	90,857
Thereafter	656,633
Total	$ 1,319,137

Indebtedness - Summary of Indeb

Indebtedness - Summary of Indebtedness at Estimated Fair Value (Detail) - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015
Debt Disclosure [Line Items]
Total, Carrying Amount	[1]	$ 1,319,521	$ 1,442,411
Total, Fair Value		1,373,086	1,495,687
Mortgages
Debt Disclosure [Line Items]
Total, Carrying Amount	[1]	506,223	564,955
Mortgage Loans Payable, Net, Fair Value		536,323	595,964
Senior Unsecured Notes
Debt Disclosure [Line Items]
Total, Carrying Amount	[1]	205,298	364,956
Senior Unsecured Debt, Net, Fair Value		230,282	386,253
Unsecured Term Loan
Debt Disclosure [Line Items]
Total, Carrying Amount	[1]	460,000	460,000
Unsecured Term Loan, Fair Value		458,481	460,970
Unsecured Credit Facility
Debt Disclosure [Line Items]
Total, Carrying Amount	[1]	148,000	52,500
Unsecured Credit Facility, Fair Value		$ 148,000	$ 52,500
[1]	The carrying amounts include unamortized premiums and discounts and exclude unamortized deferred financing costs.

Variable Interest Entities - Co

Variable Interest Entities - Condensed Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets:
Net Investment in Real Estate	$ 2,538,446	$ 2,502,638
Total Assets	2,728,198	2,709,808
Liabilities and Partners' Capital:
Mortgage Loans Payable, Net	502,838	561,241
Total Liabilities and Equity/Partners' Capital	2,728,198	2,709,808
Other Real Estate Partnerships
Assets:
Net Investment in Real Estate	295,516	306,866
Other Assets, Net	21,142	20,104
Total Assets	316,658	326,970
Liabilities and Partners' Capital:
Mortgage Loans Payable, Net	71,099	77,071
Other Liabilities, Net	42,836	43,103
Partners’ Capital	202,723	206,796
Total Liabilities and Equity/Partners' Capital	$ 316,658	$ 326,970

Stockholders_ Equity of the C36

Stockholders’ Equity of the Company and Partners' Capital of the Operating Partnership - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Class of Stock [Line Items]
Issuance of common stock	5,600,000
Proceeds from issuance of common stock	$ 124,936	$ 0
Conversion of Limited Partner Units to Common Stock / General Partner Units, Value	0	$ 0
Common stock dividends and Unit distributions	$ 45,130
Common Stock / Operating Partnership Units
Class of Stock [Line Items]
Conversion of Limited Partner Units to Common Stock / General Partner Units, Shares	10,697	10,395
Conversion of Limited Partner Units to Common Stock / General Partner Units, Value	$ 107	$ 100
Common stock dividends and Unit distributions	45,130
First Industrial, L.P.
Class of Stock [Line Items]
Proceeds from issuance of common stock	124,936	0
Conversion of Limited Partner Units to Common Stock / General Partner Units, Value	0	0
Noncontrolling Interest
Class of Stock [Line Items]
Conversion of Limited Partner Units to Common Stock / General Partner Units, Value	(107)	$ (100)
Common stock dividends and Unit distributions	$ 1,632

Stockholders' Equity of the Com

Stockholders' Equity of the Company and Partners' Capital of the Operating Partnership - Summary of Changes in Noncontrolling Interest (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Noncontrolling Interest [Line Items]
Beginning Balance			$ 42,035
Net Income	$ 1,879	$ 556	2,486	$ 649
Other Comprehensive (Loss) Income (Including a Reallocation of $36 and $2)			(17,418)
Conversion of Limited Partner Units to Common Stock / General Partner Units, Value			0	0
Reallocation - Additional Paid-in-Capital			0
Ending Balance	44,618		44,618
Noncontrolling Interest
Noncontrolling Interest [Line Items]
Beginning Balance			42,035	41,877
Net Income			2,486	649
Distributions			(1,632)	(1,113)
Other Comprehensive (Loss) Income (Including a Reallocation of $36 and $2)			(598)	248
Conversion of Limited Partner Units to Common Stock / General Partner Units, Value			(107)	(100)
Reallocation - Additional Paid-in-Capital			2,434	13
Ending Balance	44,618	41,574	44,618	41,574
Reallocation - Other Comprehensive Income (Loss)			36	2
First Industrial, L.P.
Noncontrolling Interest [Line Items]
Beginning Balance			1,096
Net Income	60	22	74	48
Contributions			15
Distributions			(174)
Other Comprehensive (Loss) Income (Including a Reallocation of $36 and $2)			(17,418)
Conversion of Limited Partner Units to Common Stock / General Partner Units, Value			0	0
Ending Balance	1,011		1,011
First Industrial, L.P. | Noncontrolling Interest
Noncontrolling Interest [Line Items]
Beginning Balance			1,096	1,080
Net Income			74	48
Contributions			15	10
Distributions			(174)	(36)
Ending Balance	$ 1,011	$ 1,102	$ 1,011	$ 1,102

Accumulated Other Comprehensi38

Accumulated Other Comprehensive Loss (Changes in AOCI) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (9,667)
Other Comprehensive Loss Before Reclassifications	(20,669)
Amounts Reclassified from Accumulated Other Comprehensive Loss	3,849
Net Current Period Other Comprehensive Loss	(16,820)
Balance	(26,487)
Interest Rate Protection Agreements
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(10,043)
Other Comprehensive Loss Before Reclassifications	(21,267)
Amounts Reclassified from Accumulated Other Comprehensive Loss	3,849
Net Current Period Other Comprehensive Loss	(17,418)
Balance	(27,461)
Comprehensive Loss Attributable to Noncontrolling Interest of the Company
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	376
Other Comprehensive Loss Before Reclassifications	598
Amounts Reclassified from Accumulated Other Comprehensive Loss	0
Net Current Period Other Comprehensive Loss	598
Balance	974
First Industrial, L.P.
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(10,043)
Balance	(27,461)
First Industrial, L.P. | Interest Rate Protection Agreements
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(10,043)
Other Comprehensive Loss Before Reclassifications	(21,267)
Amounts Reclassified from Accumulated Other Comprehensive Loss	3,849
Net Current Period Other Comprehensive Loss	(17,418)
Balance	$ (27,461)

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Loss (Amounts Reclassified from AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Mark-to-Market Loss on Interest Rate Protection Agreements	$ 0	$ 1,444	$ 0	$ (11,546)
Interest Expense	14,589	16,363	30,848	33,005
Total	21,404	(13,486)	11,523	(35,934)
Reclassification Out Of Accumulated Other Comprehensive Income | Interest Rate Protection Agreements
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total	1,911	1,195	3,849	15,373
Interest Rate Swap | Reclassification Out Of Accumulated Other Comprehensive Income | Interest Rate Protection Agreements
Accumulated Other Comprehensive Income (Loss) [Line Items]
Mark-to-Market Loss on Interest Rate Protection Agreements	0	0	0	12,990
Interest Expense	1,815	1,064	3,651	2,121
Interest Rate Contract | Reclassification Out Of Accumulated Other Comprehensive Income | Interest Rate Protection Agreements
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest Expense	$ 96	$ 131	$ 198	$ 262

Accumulated Other Comprehensi40

Accumulated Other Comprehensive Loss - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Accumulated Other Comprehensive Loss [Abstract]
Amortization to be reclassified from OCI into income	$ 349

Earnings Per Share _ Unit (EP41

Earnings Per Share / Unit (EPS / EPU) - Computation of Basic and Diluted EPS / EPU (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator:
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 50,229	$ 14,012	$ 65,917	$ 16,385
Net Income Allocable to Participating Securities	(180)	(50)	(217)	(91)
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$ 50,049	$ 13,962	$ 65,700	$ 16,294
Denominator:
Weighted Average Shares / Units - Basic	116,191	110,348	113,492	110,329
LTIP Unit Awards (As Defined in Note 9)	367	335	279	350
Weighted Average Shares / Units - Diluted	116,558	110,683	113,771	110,679
Basic and Diluted EPS / EPU:
Net Income Available to Common Stockholders / Unitholders	$ 0.43	$ 0.13	$ 0.58	$ 0.15
First Industrial, L.P.
Numerator:
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 52,048	$ 14,644	$ 68,329	$ 17,101
Net Income Allocable to Participating Securities	(180)	(50)	(217)	(91)
Net Income Available to Unitholders	$ 51,868	$ 14,594	$ 68,112	$ 17,010
Denominator:
Weighted Average Shares / Units - Basic	120,486	114,712	117,791	114,697
LTIP Unit Awards (As Defined in Note 9)	367	335	279	350
Weighted Average Shares / Units - Diluted	120,853	115,047	118,070	115,047
Basic and Diluted EPS / EPU:
Net Income Available to Common Stockholders / Unitholders	$ 0.43	$ 0.13	$ 0.58	$ 0.15

Earnings Per Share _ Unit (EP42

Earnings Per Share / Unit (EPS / EPU) - Additional Information (Detail) - shares	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Unvested Restricted Stock / Unit Awards	418,366	388,866

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amortization related to restricted stock/Unit awards and LTIP Unit Awards	$ 1,507	$ 1,506	$ 4,470	$ 4,067
Unrecognized compensation related to unvested restricted stock/Unit awards and LTIP Unit Awards	$ 9,919		$ 9,919
Weighted average period of unrecognized compensation expected to be recognized			1 year 20 days
LTIP Unit Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of LTIP Unit Awards			0.00%
LTIP Unit Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of LTIP Unit Awards			100.00%
Management | Restricted Stock/Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and LTIP Unit Awards issued			308,373
Fair value of restricted stock/Unit awards and LTIP Unit Awards issued			$ 6,047
Vesting Period of restricted stock/Unit awards issued			3 years
Compensation expense recognized at date of grant			$ 1,590	$ 1,250
Management | LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and LTIP Unit Awards issued			254,524
Fair value of restricted stock/Unit awards and LTIP Unit Awards issued			$ 2,561
Director | Restricted Stock/Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and LTIP Unit Awards issued			14,460
Fair value of restricted stock/Unit awards and LTIP Unit Awards issued			$ 350
Vesting Period of restricted stock/Unit awards issued			1 year

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands, ft² in Millions	Jun. 30, 2016USD ($)ft²Property
Commitments and Contingencies Disclosure [Abstract]
Number of industrial properties under construction | Property	3
Gross leasable area (GLA) of industrial properties under construction | ft²	1
Estimated total investment	$ 77,200
Estimated total investment remaining to be funded	$ 51,200

Derivatives - Additional Inform

Derivatives - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
2014 Swaps
Derivative [Line Items]
Debt Instrument, Term	7 years
Debt Instrument, Face Amount	$ 200,000
Debt instrument, LIBOR Rate	one month LIBOR
Swaps, Number of Instruments Held	4
Swaps, Notional Amount	$ 200,000
Swaps, Average Fixed Interest Rate	2.29%
2015 Swaps
Derivative [Line Items]
Debt Instrument, Term	7 years
Debt Instrument, Face Amount	$ 260,000
Debt instrument, LIBOR Rate	one month LIBOR
Swaps, Number of Instruments Held	6
Swaps, Notional Amount	$ 260,000
Swaps, Average Fixed Interest Rate	1.79%

Derivatives - Fair Value Measur

Derivatives - Fair Value Measurements on Recurring Basis (Detail) $ in Thousands	Jun. 30, 2016USD ($)
2014 Swaps
Fair Value on Recurring Basis [Line Items]
Fair Value	$ (13,318)
2014 Swaps | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value on Recurring Basis [Line Items]
Fair Value	0
2014 Swaps | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value on Recurring Basis [Line Items]
Fair Value	(13,318)
2014 Swaps | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Fair Value on Recurring Basis [Line Items]
Fair Value	0
2015 Swaps
Fair Value on Recurring Basis [Line Items]
Fair Value	(12,742)
2015 Swaps | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value on Recurring Basis [Line Items]
Fair Value	0
2015 Swaps | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value on Recurring Basis [Line Items]
Fair Value	(12,742)
2015 Swaps | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Fair Value on Recurring Basis [Line Items]
Fair Value	$ 0

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ in Thousands	1 Months Ended	6 Months Ended
	Jul. 28, 2016USD ($)PropertyLand_Parcel	Jun. 30, 2016USD ($)Property	Jun. 30, 2015USD ($)
Subsequent Event [Line Items]
Number of industrial properties acquired | Property		2
Purchase price of acquisitions | $		$ 71,223	$ 26,474
Subsequent Events
Subsequent Event [Line Items]
Number of industrial properties acquired | Property	1
Number of land parcels acquired | Land_Parcel	1
Purchase price of acquisitions | $	$ 14,905