First Industrial Realty Trust (FR) 10-Q 26 Apr 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 26, 2019
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	FR
Entity Registrant Name	FIRST INDUSTRIAL REALTY TRUST INC
Entity Central Index Key	0000921825
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		126,484,695
First Industrial, L.P.
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	FRFI
Entity Registrant Name	FIRST INDUSTRIAL LP
Entity Central Index Key	0001033128
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment in Real Estate:
Land	$ 916,235	$ 909,318
Buildings and Improvements	2,714,983	2,704,850
Construction in Progress	93,767	59,476
Less: Accumulated Depreciation	(826,048)	(811,784)
Net Investment in Real Estate	2,898,937	2,861,860
Operating Lease Right-of-Use Assets	12,032	0
Cash and Cash Equivalents	20,422	43,102
Restricted Cash	10,467	7,271
Tenant Accounts Receivable, Net	6,335	5,185
Investment in Joint Venture	21,419	23,326
Deferred Rent Receivable, Net	74,099	71,079
Deferred Leasing Intangibles, Net	28,075	29,678
Prepaid Expenses and Other Assets, Net	106,868	101,190
Total Assets	3,178,654	3,142,691
Indebtedness:
Mortgage Loans Payable, Net	222,774	296,470
Senior Unsecured Notes, Net	544,609	544,504
Unsecured Term Loans, Net	457,073	456,809
Unsecured Credit Facility	102,000	0
Accounts Payable, Accrued Expenses and Other Liabilities	89,576	78,665
Operating Lease Liabilities	12,369	0
Deferred Leasing Intangibles, Net	9,185	9,560
Rents Received in Advance and Security Deposits	44,965	47,927
Dividends and Distributions Payable	30,139	28,845
Total Liabilities	1,512,690	1,462,780
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, 225,000,000 shares authorized and 126,484,695 and 126,307,431 shares issued and outstanding)	1,265	1,263
Additional Paid-in-Capital	2,127,707	2,131,556
Distributions in Excess of Accumulated Earnings	(497,958)	(490,807)
Accumulated Other Comprehensive (Loss) Income	(2,695)	3,502
Total First Industrial Realty Trust, Inc.'s Stockholders' Equity	1,628,319	1,645,514
Noncontrolling Interest	37,645	34,397
Total Equity	1,665,964	1,679,911
Total Liabilities and Equity/Partners' Capital	3,178,654	3,142,691
First Industrial, L.P.
Investment in Real Estate:
Land	916,235	909,318
Buildings and Improvements	2,714,983	2,704,850
Construction in Progress	93,767	59,476
Less: Accumulated Depreciation	(826,048)	(811,784)
Net Investment in Real Estate	2,898,937	2,861,860
Operating Lease Right-of-Use Assets	12,032	0
Cash and Cash Equivalents	20,422	43,102
Restricted Cash	10,467	7,271
Tenant Accounts Receivable, Net	6,335	5,185
Investment in Joint Venture	21,419	23,326
Deferred Rent Receivable, Net	74,099	71,079
Deferred Leasing Intangibles, Net	28,075	29,678
Prepaid Expenses and Other Assets, Net	116,933	111,298
Total Assets	3,188,719	3,152,799
Indebtedness:
Mortgage Loans Payable, Net	222,774	296,470
Senior Unsecured Notes, Net	544,609	544,504
Unsecured Term Loans, Net	457,073	456,809
Unsecured Credit Facility	102,000	0
Accounts Payable, Accrued Expenses and Other Liabilities	89,576	78,665
Operating Lease Liabilities	12,369	0
Deferred Leasing Intangibles, Net	9,185	9,560
Rents Received in Advance and Security Deposits	44,965	47,927
Dividends and Distributions Payable	30,139	28,845
Total Liabilities	1,512,690	1,462,780
Commitments and Contingencies	0	0
First Industrial Realty Trust Inc.’s Stockholders’ Equity/First Industrial, L.P.'s Partners' Capital:
General Partner Units (126,484,695 and 126,307,431 units outstanding)	1,611,556	1,619,342
Limited Partners Units (2,906,225 and 2,624,167 units outstanding)	66,389	66,246
Accumulated Other Comprehensive (Loss) Income	(2,756)	3,574
Total First Industrial L.P.'s Partners' Capital	1,675,189	1,689,162
Noncontrolling Interest	840	857
Total Partners' Capital	1,676,029	1,690,019
Total Liabilities and Equity/Partners' Capital	$ 3,188,719	$ 3,152,799

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Net Investment in Real Estate	$ 2,898,937	$ 2,861,860
Mortgage Loans Payable, Net	$ 222,774	$ 296,470
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	225,000,000	225,000,000
Common Stock, shares issued	126,484,695	126,307,431
Common Stock, shares outstanding	126,484,695	126,307,431
First Industrial, L.P.
Net Investment in Real Estate	$ 2,898,937	$ 2,861,860
Mortgage Loans Payable, Net	$ 222,774	$ 296,470
General Partner Units, units outstanding	126,484,695	126,307,431
Limited Partner Units, units outstanding	2,906,225	2,624,167
Other Real Estate Partnerships
Net Investment in Real Estate	$ 258,041	$ 260,528
Mortgage Loans Payable, Net	$ 13,251	$ 20,497

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Lease Revenue	$ 103,638	$ 99,040
Other Revenue	903	731
Total Revenues	104,541	99,771
Expenses:
Property Expenses	30,168	29,411
General and Administrative	6,802	8,143
Impairment of Real Estate	0	2,756
Depreciation and Other Amortization	30,055	28,315
Total Expenses	67,025	68,625
Other (Expense) Income:
(Loss) Gain on Sale of Real Estate	(208)	20,089
Interest Expense	(12,767)	(12,791)
Amortization of Debt Issuance Costs	(831)	(855)
Loss from Retirement of Debt	0	(39)
Total Other (Expense) Income	(13,806)	6,404
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision	23,710	37,550
Equity in Income of Joint Venture	844	0
Income Tax Provision	(214)	(86)
Net Income	24,340	37,464
Less: Net Income Attributable to the Noncontrolling Interest	(537)	(1,172)
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 23,803	$ 36,292
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders	$ 0.19	$ 0.30
Weighted Average Shares/Units Outstanding - Basic	126,194	119,846
Weighted Average Shares/Units Outstanding - Diluted	126,456	120,211
First Industrial, L.P.
Revenues:
Lease Revenue	$ 103,638	$ 99,040
Other Revenue	903	731
Total Revenues	104,541	99,771
Expenses:
Property Expenses	30,168	29,411
General and Administrative	6,802	8,143
Impairment of Real Estate	0	2,756
Depreciation and Other Amortization	30,055	28,315
Total Expenses	67,025	68,625
Other (Expense) Income:
(Loss) Gain on Sale of Real Estate	(208)	20,089
Interest Expense	(12,767)	(12,791)
Amortization of Debt Issuance Costs	(831)	(855)
Loss from Retirement of Debt	0	(39)
Total Other (Expense) Income	(13,806)	6,404
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision	23,710	37,550
Equity in Income of Joint Venture	844	0
Income Tax Provision	(214)	(86)
Net Income	24,340	37,464
Less: Net Income Attributable to the Noncontrolling Interest	(26)	(21)
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 24,314	$ 37,443
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders	$ 0.19	$ 0.30
Weighted Average Shares/Units Outstanding - Basic	128,818	123,729
Weighted Average Shares/Units Outstanding - Diluted	129,178	124,094

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net Income	$ 24,340	$ 37,464
Mark-to-Market (Loss) Gain on Derivative Instruments	(6,354)	6,525
Amortization of Derivative Instruments	24	24
Comprehensive Income	18,010	44,013
Comprehensive Income Attributable to Noncontrolling Interest	(397)	(1,378)
Comprehensive Income Attributable to Common Stockholders / Unitholders	17,613	42,635
First Industrial, L.P.
Net Income	24,340	37,464
Mark-to-Market (Loss) Gain on Derivative Instruments	(6,354)	6,525
Amortization of Derivative Instruments	24	24
Comprehensive Income	18,010	44,013
Comprehensive Income Attributable to Noncontrolling Interest	(26)	(21)
Comprehensive Income Attributable to Common Stockholders / Unitholders	$ 17,984	$ 43,992

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS EQUITY/ PARTNER'S CAPITAL - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in- Capital	Distributions in Excess of Accumulated Earnings	Accumulated Other Comprehensive (Loss) Income	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) Income	First Industrial, L.P.Noncontrolling Interest
Beginning Balance at Dec. 31, 2017	$ 1,475,877	$ 1,199	$ 1,967,110	$ (541,847)	$ 1,338	$ 48,077
Beginning Balance at Dec. 31, 2017							$ 1,485,995	$ 1,401,583	$ 82,251	$ 1,382	$ 779
Increase (Decrease) in Stockholders' Equity / Partners' Capital [Roll Forward]
Net Income	37,464			36,292		1,172	37,464	36,271	1,172		21
Other Comprehensive Income (Loss)	6,549				6,366	183	6,549			6,549
Stock Based Compensation Activity	(4,385)	3	(1,106)	(3,282)		0
Stock Based Compensation Activity							(4,385)	(4,385)
Common Stock Dividends and Unit Distributions	(27,107)			(26,332)		(775)
Unit Distributions							(27,107)	(26,332)	(775)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	4	5,005			(5,009)	0	5,009	(5,009)
Retirement of Limited Partner Units	(934)					(934)	(934)		(934)
Reallocation - Additional Paid-in-Capital	0		(292)			292
Reallocation - Other Comprehensive Income						0
Contributions from Noncontrolling Interest							116				116
Distributions to Noncontrolling Interest							(21)				(21)
Ending Balance at Mar. 31, 2018	1,487,464	1,206	1,970,717	(535,169)	7,704	43,006
Ending Balance at Mar. 31, 2018							1,497,677	1,412,146	76,705	7,931	895
Beginning Balance at Dec. 31, 2018	1,679,911	1,263	2,131,556	(490,807)	3,502	34,397
Beginning Balance at Dec. 31, 2018							1,690,019	1,619,342	66,246	3,574	857
Increase (Decrease) in Stockholders' Equity / Partners' Capital [Roll Forward]
Net Income	24,340			23,803		537	24,340	23,777	537		26
Other Comprehensive Income (Loss)	(6,330)				(6,190)	(140)	(6,330)			(6,330)
Stock Based Compensation Activity	(2,035)	2	(611)	(1,696)		270
Stock Based Compensation Activity							(2,035)	(2,305)	270
Common Stock Dividends and Unit Distributions	(29,922)			(29,258)		(664)
Unit Distributions							(29,922)	(29,258)	(664)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	0	0			0	0	0	0
Retirement of Limited Partner Units						0
Reallocation - Additional Paid-in-Capital	0		(3,238)			3,238
Reallocation - Other Comprehensive Income	0				(7)	7
Contributions from Noncontrolling Interest											0
Distributions to Noncontrolling Interest							(43)				(43)
Ending Balance at Mar. 31, 2019	$ 1,665,964	$ 1,265	$ 2,127,707	$ (497,958)	$ (2,695)	$ 37,645
Ending Balance at Mar. 31, 2019							$ 1,676,029	$ 1,611,556	$ 66,389	$ (2,756)	$ 840

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 24,340	$ 37,464
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation	24,376	22,953
Amortization of Debt Issuance Costs	831	855
Other Amortization, including Stock Based Compensation	7,022	6,626
Impairment of Real Estate	0	2,756
Provision for Bad Debt	0	88
Equity in Income of Joint Venture	(844)	0
Distributions from Joint Venture	568	0
Loss (Gain) on Sale of Real Estate	208	(20,089)
Loss from Retirement of Debt	0	39
Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net and Operating Lease Right-of-Use Assets	(18,421)	(6,706)
Increase in Deferred Rent Receivable, Net	(3,028)	(713)
Increase (Decrease) in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits and Operating Lease Liabilities	6,677	(6,249)
Net Cash Provided by Operating Activities	41,729	37,024
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of Real Estate	(18,499)	(49,865)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs	(43,402)	(63,994)
Net Proceeds from Sales of Investments in Real Estate	9,793	41,691
Distributions from Joint Venture	2,175	0
Other Investing Activity	(7,048)	(3,053)
Net Cash Used in Investing Activities	(56,981)	(75,221)
CASH FLOWS FROM FINANCING ACTIVITIES:
Financing and Equity Issuance Costs	0	(2,676)
Tax paid on Shares Withheld	(4,384)	(6,020)
Common Stock Dividends and Unit Distributions Paid	(28,042)	(26,565)
Repayments on Mortgage Loans Payable	(73,806)	(160,163)
Proceeds from Senior Unsecured Notes	0	300,000
Proceeds from Unsecured Credit Facility	121,000	162,000
Repayments on Unsecured Credit Facility	(19,000)	(206,500)
Net Cash (Used in) Provided by Financing Activities	(4,232)	60,076
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash	(19,484)	21,879
Cash, Cash Equivalents and Restricted Cash, Beginning of Year	50,373	46,482
Cash, Cash Equivalents and Restricted Cash, End of Period	30,889	68,361
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:
Interest Expense Capitalized in Connection with Development Activity	944	1,602
Cash Paid for Operating Lease Liabilities	268	0
Supplemental Schedule of Non-Cash Operating Activities:
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets	12,400	0
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Dividends and Distributions Payable	30,139	27,558
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	0	11,724
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate	43,002	32,006
Write-off of Fully Depreciated Assets	(11,176)	(13,663)
Noncontrolling Interest
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	537	1,172
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	(5,009)
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	4
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	0	5,005
First Industrial, L.P.
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	24,340	37,464
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation	24,376	22,953
Amortization of Debt Issuance Costs	831	855
Other Amortization, including Stock Based Compensation	7,022	6,626
Impairment of Real Estate	0	2,756
Provision for Bad Debt	0	88
Equity in Income of Joint Venture	(844)	0
Distributions from Joint Venture	568	0
Loss (Gain) on Sale of Real Estate	208	(20,089)
Loss from Retirement of Debt	0	39
Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net and Operating Lease Right-of-Use Assets	(18,378)	(6,801)
Increase in Deferred Rent Receivable, Net	(3,028)	(713)
Increase (Decrease) in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits and Operating Lease Liabilities	6,677	(6,249)
Net Cash Provided by Operating Activities	41,772	36,929
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of Real Estate	(18,499)	(49,865)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs	(43,402)	(63,994)
Net Proceeds from Sales of Investments in Real Estate	9,793	41,691
Distributions from Joint Venture	2,175	0
Other Investing Activity	(7,048)	(3,053)
Net Cash Used in Investing Activities	(56,981)	(75,221)
CASH FLOWS FROM FINANCING ACTIVITIES:
Financing and Equity Issuance Costs	0	(2,676)
Tax paid on Shares Withheld	(4,384)	(6,020)
Common Stock Dividends and Unit Distributions Paid	(28,042)	(26,565)
Contributions from Noncontrolling Interests	0	116
Distributions to Noncontrolling Interests	(43)	(21)
Repayments on Mortgage Loans Payable	(73,806)	(160,163)
Proceeds from Senior Unsecured Notes	0	300,000
Proceeds from Unsecured Credit Facility	121,000	162,000
Repayments on Unsecured Credit Facility	(19,000)	(206,500)
Net Cash (Used in) Provided by Financing Activities	(4,275)	60,171
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash	(19,484)	21,879
Cash, Cash Equivalents and Restricted Cash, Beginning of Year	50,373	46,482
Cash, Cash Equivalents and Restricted Cash, End of Period	30,889	68,361
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:
Interest Expense Capitalized in Connection with Development Activity	944	1,602
Cash Paid for Operating Lease Liabilities	268	0
Supplemental Schedule of Non-Cash Operating Activities:
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets	12,400	0
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Dividends and Distributions Payable	30,139	27,558
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	0	11,724
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate	43,002	32,006
Write-off of Fully Depreciated Assets	(11,176)	(13,663)
First Industrial, L.P. | Limited Partner Units
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	537	1,172
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	(5,009)
First Industrial, L.P. | General Partner Units
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	23,777	36,271
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	$ 0	$ 5,009

Organization

Organization	3 Months Ended
	Mar. 31, 2019
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 (the "Code"). 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 97.8% ownership interest ("General Partner Units") at March 31, 2019. 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. The Company's noncontrolling interest in the Operating Partnership of approximately 2.2% at March 31, 2019 represents the aggregate partnership interest held by the limited partners thereof ("Limited Partner Units" and together with the General Partner Units, the "Units"). The limited partners of the Operating Partnership are persons or entities who contributed their direct or indirect interests in properties to the Operating Partnership in exchange for common Limited Partner Units of the Operating Partnership and/or recipients of LTIP Units of the Operating Partnership pursuant to the Company's stock incentive plan. See Note 9 for more information. We also own a 49% equity interest in, and provide various services to, a joint venture (the "Joint Venture") through a wholly- owned subsidiary of the Operating Partnership. The Joint Venture is accounted for under the equity method of accounting. The operating data of the Joint Venture is not consolidated with that of the Company or the Operating Partnership as presented herein. See Note 5 for more information related to the Joint Venture. Profits, losses and distributions of the Operating Partnership, the LLCs, the Other Real Estate Partnerships, the TRSs and the Joint Venture 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 March 31, 2019, we owned 458 industrial properties located in 21 states, containing an aggregate of approximately 63.2 million square feet of gross leasable area ("GLA"). Of the 458 properties owned on a consolidated basis, none of them are directly owned by the Company.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
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, 2018 ("2018 Form 10-K") and should be read in conjunction with such consolidated financial statements and related notes. The 2018 year end consolidated balance sheet data included in this Form 10-Q filing was derived from the audited consolidated financial statements in our 2018 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, 2018 audited consolidated financial statements included in our 2018 Form 10-K and present interim disclosures as required by the Securities and Exchange Commission. 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 March 31, 2019 and December 31, 2018, and the reported amounts of revenues and expenses for the three months ended March 31, 2019 and 2018. 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 March 31, 2019 and December 31, 2018, the results of our operations and comprehensive income for each of the three months ended March 31, 2019 and 2018, and our cash flows for each of the three months ended March 31, 2019 and 2018. All adjustments are of a normal recurring nature. Reclassifications We adopted Financial Accounting Standards Board ("FASB") Accounting Standards Codification 842 Leases effective January 1, 2019. Upon adoption of the new standard, tenant recovery revenue and fee revenue collected for delinquent lease payments for 2018 has been reclassified to the Lease Revenue line item in the Consolidated Statements of Operations to conform to the 2019 financial statement presentation. This reclassification had no impact to the 2018 results of operations. Recent Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842), which amended the existing accounting standards for lease accounting to increase transparency and comparability among organizations by requiring the recognition of right-of-use assets and lease liabilities on the balance sheet. We adopted the standard effective January 1, 2019 and have elected to use January 1, 2019 as our date of initial application. Consequently, financial information will not be updated and disclosures required under the new standard will not be provided for periods presented before January 1, 2019 as these prior periods conform to the Accounting Standards Codification 840. We elected the package of practical expedients permitted under the transition guidance within the new standard. By adopting these practical expedients, we were not required to reassess (1) whether an existing contract meets the definition of a lease; (2) the lease classification for existing leases; or (3) costs previously capitalized as initial direct costs. As a lessor, our rental revenue remained mainly consistent with previous guidance, apart from the narrower definition of initial direct costs that can be capitalized. The new standard defines initial direct costs as only the incremental costs of signing a lease. As such, certain compensation and certain external legal fees related to the execution of successful lease agreements no longer meet the definition of initial direct costs under the new standard and will be accounted for in the line item General and Administrative Expense . However, the adoption of the standard, along with the adoption of ASU No. 2018-11, Leases - Targeted Improvements which the FASB issued in July 2018, did change our presentation of our results from operations in the Consolidated Statements of Operations . The main changes caused by the adoption of the standards are: • The new standard provided a practical expedient, which allows lessors to combine non-lease components with the related lease components if both the timing and pattern of transfer are the same for the non-lease components(s) and the related lease component, and the lease component would be classified as an operating lease. Lessors are permitted to apply the practical expedient to all existing leases on a retrospective or prospective basis. We elected the practical expedient to combine our lease and non-lease components that meet the defined criteria. The non-lease components of our leases primarily consist of common area maintenance reimbursements from our tenants. • The new standard also requires lessors to exclude from variable payments certain lessor costs, such as real estate taxes, that the lessor contractually requires the lessee to pay directly to a third party on its behalf. Several of our leases require tenants to pay real estate taxes directly to taxing authorities. For periods prior to January 1, 2019, we recorded these payments in the line item Property Expenses with an offset in the line item Lease Revenue. For the three months ended March 31, 2018, $1,886 of these payments are included in the aforementioned line items. • The new standard requires our expected credit loss related to the collectability of lease receivables to be reflected as an adjustment to the line item Lease Revenue . For the three months ended March 31, 2018, the credit loss related to the collectibility of lease receivables was recognized in the line item Property Expenses and was not significant. We are a lessee on a limited number of ground and office leases. Under the new standard, the expense pattern for these leases is generally consistent with that of our historical recognition; however, we are required to record right-of-use assets and lease liabilities on our Consolidated Balance Sheets . Operating lease right-of-use assets and liabilities are recognized at commencement of the lease based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on information available at lease commencement to determine the present value of lease payments. For leases that commenced prior to the effective date of the standard, we recognized right-of-use assets and lease liabilities based on the present value of remaining lease payments and the incremental borrowing rate on the date of adoption. We have elected the short term lease exemption for certain qualifying leases with lease terms of twelve months or less and, accordingly, did not record right-of-use assets and lease liabilities. We have also elected the practical expedient to not separate lease and non-lease components. For additional disclosures related to leases, refer to Note 13. In August 2017, the FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeting Improvements to Accounting for Hedging Activities" ("ASU 2017-12"). ASU 2017-12 is intended to better align financial reporting for hedging activities with the economic objectives of those activities. We adopted ASU 2017-02 effective January 1, 2019, and the adoption did not impact our financial condition or results of operations.

Investment in Real Estate

Investment in Real Estate	3 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Investment in Real Estate	Investment in Real Estate Acquisitions During the three months ended March 31, 2019, we acquired one industrial property comprised of approximately 0.2 million square feet of GLA and two land parcels. We considered these properties asset acquisitions and therefore capitalized acquisition costs to the basis of the acquired assets. The following table summarizes the amounts recognized for each major asset class for the industrial property and land parcels acquired during the three months ended March 31, 2019: Purchase Price Land $ 8,388 Building and Improvements 9,880 Total Purchase Price $ 18,268 The revenue and net income associated with the acquisition of the industrial property and land parcels, since their respective acquisition dates, are not significant for the three months ended March 31, 2019. Sales During the three months ended March 31, 2019, we sold one industrial property comprised of approximately 0.1 million square feet of GLA. Gross proceeds from the sale were $10,467 . The loss on sale of real estate attributable to this sale was $208 .

Indebtedness

Indebtedness	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Indebtedness	Indebtedness The following table discloses certain information regarding our indebtedness: Outstanding Balance at Interest Effective Interest Rate at Issuance Maturity Date March 31, 2019 December 31, 2018 Mortgage Loans Payable, Gross $ 223,804 $ 297,610 4.03% – 8.26% 4.03% – 8.26% December 2019 – August 2028 Unamortized Debt Issuance Costs (1,030 ) (1,246 ) Unamortized Premiums — 106 Mortgage Loans Payable, Net $ 222,774 $ 296,470 Senior Unsecured Notes, Gross 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 2027 Private Placement Notes 125,000 125,000 4.30% 4.30% 4/20/2027 2028 Private Placement Notes 150,000 150,000 3.86% 3.86% 2/15/2028 2029 Private Placement Notes 75,000 75,000 4.40% 4.40% 4/20/2029 2030 Private Placement Notes 150,000 150,000 3.96% 3.96% 2/15/2030 Subtotal $ 548,571 $ 548,571 Unamortized Debt Issuance Costs (3,886 ) (3,990 ) Unamortized Discounts (76 ) (77 ) Senior Unsecured Notes, Net $ 544,609 $ 544,504 Unsecured Term Loans, Gross 2014 Unsecured Term Loan (A) $ 200,000 $ 200,000 3.39% N/A 1/29/2021 2015 Unsecured Term Loan (A) 260,000 260,000 2.89% N/A 9/12/2022 Subtotal $ 460,000 $ 460,000 Unamortized Debt Issuance Costs (2,927 ) (3,191 ) Unsecured Term Loans, Net $ 457,073 $ 456,809 Unsecured Credit Facility (B) $ 102,000 $ — 3.59% N/A 10/29/2021 _______________ (A) The interest rate at March 31, 2019 also reflects the derivative instruments 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 debt issuance costs of $3,241 and $3,554 as of March 31, 2019 and December 31, 2018, respectively, which are included in the line item Prepaid Expenses and Other Assets, Net . Mortgage Loans Payable, Net During the three months ended March 31, 2019, we paid off mortgage loans in the amount of $72,073 . As of March 31, 2019, mortgage loans payable are collateralized, and in some instances cross-collateralized, by industrial properties with a net carrying value of $338,533 . We believe the Operating Partnership and the Company were in compliance with all covenants relating to mortgage loans as of March 31, 2019. Indebtedness The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums, discounts and debt issuance costs, for the next five years as of March 31, and thereafter: Amount Remainder of 2019 $ 5,794 2020 59,046 2021 369,113 2022 341,552 2023 321 Thereafter 558,549 Total $ 1,334,375 Our unsecured credit facility (the "Unsecured Credit Facility"), the Unsecured Term Loans, the Private Placement Notes 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 the Operating Partnership and the Company were in compliance with all covenants relating to the Unsecured Credit Facility, the Unsecured Term Loans, the Private Placement Notes and the indentures governing our senior unsecured notes as of March 31, 2019. 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 March 31, 2019 and December 31, 2018, the fair value of our indebtedness was as follows: March 31, 2019 December 31, 2018 Carrying Amount (A) Fair Value Carrying Amount (A) Fair Value Mortgage Loans Payable, Net $ 223,804 $ 228,554 $ 297,716 $ 304,508 Senior Unsecured Notes, Net 548,495 567,889 548,494 546,607 Unsecured Term Loans 460,000 461,210 460,000 461,317 Unsecured Credit Facility 102,000 102,126 — — Total $ 1,334,299 $ 1,359,779 $ 1,306,210 $ 1,312,432 _______________ (A) The carrying amounts include unamortized premiums and discounts and exclude unamortized debt issuance 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	3 Months Ended
	Mar. 31, 2019
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities Other Real Estate Partnerships The Other Real Estate Partnerships are variable interest entities ("VIEs") 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 and the Company is the primary beneficiary. The following table summarizes the assets and liabilities of the Other Real Estate Partnerships included in our consolidated balance sheets, net of intercompany amounts: March 31, 2019 December 31, 2018 ASSETS Assets: Net Investment in Real Estate $ 258,041 $ 260,528 Other Assets, Net 24,433 25,059 Total Assets $ 282,474 $ 285,587 LIABILITIES AND PARTNERS' CAPITAL Liabilities: Mortgage Loans Payable, Net $ 13,251 $ 20,497 Other Liabilities, Net 8,348 9,045 Partners' Capital 260,875 256,045 Total Liabilities and Partners' Capital $ 282,474 $ 285,587 Joint Venture During the second quarter 2018, we entered into the Joint Venture with a third party partner for the purpose of developing, leasing, operating and potentially selling approximately 532 net developable acres of land located in the Phoenix, Arizona metropolitan area. The purchase price of the land was $49,000 and was acquired by the Joint Venture via cash equity contributions from us and our joint venture partner. Through a wholly-owned subsidiary of the Operating Partnership, we own a 49% interest in the Joint Venture. During the three months ended March 31, 2019, the Joint Venture sold one land parcel for gross proceeds of $10,130 . The gain on sale of real estate attributable to this sale was $1,974 . Under the Joint Venture's operating agreement, we act as the managing member of the Joint Venture and are entitled to receive fees for providing management, leasing, development, construction supervision, disposition and asset management services to the Joint Venture. In addition, the Joint Venture's operating agreement provides us the ability to earn an incentive fee based on the ultimate financial performance of the Joint Venture. As part of our assessment of the appropriate accounting treatment for the Joint Venture, we reviewed the operating agreement of the Joint Venture in order to determine our rights and the rights of our joint venture partner, including whether those rights are protective or participating. We found that the operating agreement contains certain protective rights, such as the requirement of both member's approval to sell, finance or refinance the property and to pay capital expenditures and operating expenditures outside of the approved budget. However, we also found that we and our Joint Venture partner jointly (i) approve the annual budget, (ii) approve certain expenditures, (iii) review and approve the Joint Venture's tax return before filing and (iv) approve each lease at a developed property. We consider the latter rights substantive participation rights that result in shared, joint power over the activities that most significantly impact the performance of the Joint Venture. As such, we concluded to account for our investment in the Joint Venture under the equity method of accounting.

Stockholders_ Equity of the Com

Stockholders’ Equity of the Company and Partners' Capital of the Operating Partnership	3 Months Ended
	Mar. 31, 2019
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 Noncontrolling Interest of the Company The equity positions of various individuals and entities that contributed their properties to the Operating Partnership in exchange for Limited Partner Units, as well as the equity positions of the holders of LTIP Units, are collectively referred to as the “Noncontrolling Interests.” Subject to vesting and other certain exceptions (including the “book-up” requirements of LTIP Units - See Note 9 for additional detail), the holders of Noncontrolling Interests may convert their Units into an equal number of shares of Common Stock, or a cash equivalent, at the Company's election. Net income is allocated to the Noncontrolling Interests based on the weighted average ownership percentage during the period. The following table summarizes the changes in noncontrolling interest for the Company for the three months ended March 31, 2019 and 2018: 2019 2018 Balance as of December 31 $ 34,397 $ 48,077 Net Income 537 1,172 Amortization of Unearned Compensation related to the Issuance of LTIP Units (A) 270 — Other Comprehensive (Loss) Income (140 ) 183 Unit Distributions (664 ) (775 ) Conversion of Limited Partner Units to Common Stock (B) — (5,009 ) Retirement of Limited Partner Units (C) — (934 ) Reallocation - Additional Paid-in-Capital 3,238 292 Reallocation - Other Comprehensive Income 7 — Balance as of March 31 $ 37,645 $ 43,006 _______________ (A) During the three months ended March 31, 2019, 286,986 LTIP Units were issued to certain employees. (B) During the three months ended March 31, 2018, 410,781 Limited Partner Units, were converted into an equivalent number of shares of common stock of the Company. (C) During the three months ended March 31, 2018, 33,333 Limited Partner Units were forfeited by a unitholder and were retired by the Operating Partnership. Noncontrolling Interest of the Operating Partnership The following table summarizes the changes in noncontrolling interest for the Operating Partnership for the three months ended March 31, 2019 and 2018: 2019 2018 Balance as of December 31 $ 857 $ 779 Net Income 26 21 Contributions — 116 Distributions (43 ) (21 ) Balance as of March 31 $ 840 $ 895 Dividends/Distributions During the three months ended March 31, 2019, we declared $29,922 common stock dividends and Unit distributions.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income The following table summarizes the changes in accumulated other comprehensive income by component for the Company and the Operating Partnership for the three months ended March 31, 2019: Derivative Instruments Accumulated Other Comprehensive Income (Loss) of the Operating Partnership Comprehensive (Income) Loss Attributable to Noncontrolling Interest of the Company Accumulated Other Comprehensive Income (Loss) of the Company Balance as of December 31, 2018 $ 3,574 $ 3,574 $ (72 ) $ 3,502 Other Comprehensive Loss Before Reclassifications (5,778 ) (5,778 ) 133 (5,645 ) Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income (552 ) (552 ) — (552 ) Net Current Period Other Comprehensive Loss (6,330 ) (6,330 ) 133 (6,197 ) Balance as of March 31, 2019 $ (2,756 ) $ (2,756 ) $ 61 $ (2,695 ) The following table summarizes the reclassifications out of accumulated other comprehensive income for both the Company and the Operating Partnership for the three months ended March 31, 2019 and 2018: Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income Details about Accumulated Other Comprehensive Income Components Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Affected Line Items in the Consolidated Statements of Operations Derivative Instruments: Amortization of Previously Settled Derivative Instruments $ 24 $ 24 Interest Expense Net Settlement (Receipts) Payments to our Counterparties (576 ) 463 Interest Expense Total $ (552 ) $ 487 The changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in other comprehensive income 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 $96 into net income by increasing interest expense for derivative instruments we settled in previous periods. Additionally, recurring settlement amounts on the 2014 Swaps and 2015 Swaps (as defined in Note 10) will also be reclassified to net income. See Note 10 for more information about our derivative instruments.

Earnings Per Share _ Unit (EPS

Earnings Per Share / Unit (EPS / EPU)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 Three Months Ended March 31, 2018 Numerator: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities $ 23,803 $ 36,292 Net Income Allocable to Participating Securities (60 ) (97 ) Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 23,743 $ 36,195 Denominator (In Thousands): Weighted Average Shares - Basic 126,194 119,846 Effect of Dilutive Securities: Performance units (See Note 9) 262 365 Weighted Average Shares - Diluted 126,456 120,211 Basic and Diluted EPS: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 0.19 $ 0.30 The computation of basic and diluted EPU of the Operating Partnership is presented below: Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Numerator: Net Income Available to Unitholders and Participating Securities $ 24,314 $ 37,443 Net Income Allocable to Participating Securities (76 ) (97 ) Net Income Available to Unitholders $ 24,238 $ 37,346 Denominator (In Thousands): Weighted Average Units - Basic 128,818 123,729 Effect of Dilutive Securities that Result in the Issuance of General Partner Units: Performance units and certain Performance LTIP Units (See Note 9) 360 365 Weighted Average Units - Diluted 129,178 124,094 Basic and Diluted EPU: Net Income Available to Unitholders $ 0.19 $ 0.30 At March 31, 2019 and 2018, participating securities for the Company include 287,273 and 410,132 , respectively, of restricted stock, which participate in non-forfeitable distributions. At March 31, 2019 and 2018, participating securities for the Operating Partnership include 407,457 and 410,132 , respectively, of restricted Unit awards and certain LTIP Units, 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.

Long-Term Compensation

Long-Term Compensation	3 Months Ended
	Mar. 31, 2019
Share-based Compensation [Abstract]
Long-Term Compensation	Awards of LTIP Units During 2018, the Company modified its stock incentive program to allow for the granting of awards to certain officers, certain employees and directors in the form of LTIP units ("LTIP Units"). An LTIP Unit is a class of limited partnership interest of the Operating Partnership that is structured as a “profits interest” for U.S. federal income tax purposes. Generally, LTIP Units entitle the holder to receive distributions from the Operating Partnership that are equivalent to the dividends and distributions that would be made with respect to the number of shares of Common Stock underlying such LTIP Units, though receipt of such distributions may be delayed or made contingent on vesting. Once an LTIP Unit has vested and received allocations of book income sufficient to increase the book capital account balance associated with such LTIP Unit (which will initially be zero) to equal, on a per-unit basis, the book capital account balance associated with a “common” Limited Partner Unit of the Operating Partnership, it automatically becomes a common Limited Partner Unit that is convertible by the holder into one share of Common Stock or a cash equivalent, at the Company’s option. Awards with Performance Measures During the three months ended March 31, 2019, the Company granted 36,064 performance units and 166,942 LTIP Units, based on performance-based criteria ("Performance LTIP Units" and collectively the "Performance Awards") to officers and certain employees, which had a fair value of $2,527 on the grant date as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation. The Performance Awards vest based upon the relative total shareholder return ("TSR") of the Company's common stock compared to a weighted average TSR of the MSCI US REIT Index and the NAREIT Industrial Index over a performance period of three years. Compensation expense is charged to earnings over the vesting periods for both the performance units and the Performance LTIP Units. Service Based Awards For the three months ended March 31, 2019, the Company awarded 82,494 shares of restricted stock awards and 102,198 of LTIP Units based on service-based criteria ("Service LTIP Units") to officers and certain employees, which had an aggregate fair value of $6,202 on the date such awards were approved by the Compensation Committee of the Board of Directors. Both the restricted stock awards and Service LTIP Units were granted based upon the prior achievement of certain corporate performance goals and will vest ratably over a period of three years based on continued employment. The Operating Partnership issued restricted Unit awards to the Company in the same amount for the restricted stock awards. Compensation expense is charged to earnings over the vesting periods for both the restricted stock or restricted Unit awards and the Service LTIP Units. Outstanding Restricted Stock or Restricted Unit Awards and LTIP Units We recognized $1,762 and $1,689 for the three months ended March 31, 2019 and 2018, respectively, in compensation expense related to the amortization of restricted stock or restricted Unit awards, performance units, and LTIP Units. Restricted stock or restricted Unit award, performance unit and LTIP Unit amortization capitalized in connection with development activities was not significant. At March 31, 2019, we had $14,923 in unrecognized compensation related to unvested restricted stock or restricted Unit awards, performance units and LTIP Units. The weighted average period that the unrecognized compensation is expected to be recognized is 1.13 years.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2019
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 these objectives, we primarily use derivative instruments as part of our interest rate risk management strategy. Derivative instruments 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. Fair Value Hedges During December 2018, in anticipation of issuing long-term debt in the future, we entered into two treasury locks with an aggregate notional value of $100,000 to manage our exposure to changes in the ten-year U.S. Treasury rate (the "2018 Treasury Locks"). The 2018 Treasury Locks fix the ten-year U.S. Treasury rate at a weighted average of 2.93% and cash settle on or before April 30, 2019. We designated the 2018 Treasury Locks as cash flow hedges. In connection with the originations of the Unsecured Term Loans (see Note 4), we entered into interest rate swaps to manage our exposure to changes in the one month LIBOR rate. The four interest rate swaps, 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 swaps, 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 Swaps 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 March 31, 2019, we had not posted any collateral related to these agreements and were not in breach of any of the provisions of these agreements. If we had breached these agreements, we could have been required to settle our obligations under the agreements at their termination value. The following table sets forth our financial assets and liabilities related to the 2015 Swaps, the 2014 Swaps and the 2018 Treasury Locks, which are included in the line items Prepaid Expenses and Other Assets, Net or Accounts Payable, Accrued Expenses and Other Liabilities and are accounted for at fair value on a recurring basis as of March 31, 2019: Fair Value Measurements: Description Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Derivatives designated as a hedging instrument: Assets: 2015 Swaps $ 3,171 — $ 3,171 — Liabilities: 2014 Swaps $ (118 ) — $ (118 ) — 2018 Treasury Locks $ (4,925 ) — $ (4,925 ) — There was no ineffectiveness recorded on the 2014 Swaps, the 2015 Swaps and the 2018 Treasury Locks during the three months ended March 31, 2019. See Note 7 for more information regarding our derivatives. The estimated fair value of the 2014 Swaps, the 2015 Swaps and the 2018 Treasury Locks 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 Swaps, the 2015 Swaps and the 2018 Treasury Locks fell within Level 2 of the fair value hierarchy.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Related Party Transactions During the three months ended March 31, 2019, we recognized fees of $74 from the Joint Venture related to asset management and development services provided to the Joint Venture. At March 31, 2019, we had a receivable from the Joint Venture of $83 related to the asset management and development fees. See Note 5 for more information on the Joint Venture. At March 31, 2019 and December 31, 2018, the Operating Partnership had receivable balances of $10,075 and $10,118 , respectively, from a direct wholly-owned subsidiary of the Company.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
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 propertie s, we have entered into agreements with general contractors for the construction of industrial properties. At March 31, 2019, we h ad 14 industr ial properties totaling approximatel y 3.9 million square feet of GLA under construction. The estimated total investment as of March 31, 2019 is approximately $297,500 . Of this amount, approximat ely $193,800 rema ins to be funded. There can be no assurance that the actual completion cost will not exceed the estimated total investment.

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lessee Disclosures	Leases Lessee Disclosures We are a lessee on a limited number of ground and office leases (the "Operating Leases"). Our office leases have remaining lease terms of less than one year to seven years and our ground leases have remaining terms of 35 years to 53 years. For the three months ended March 31, 2019, we recognized $448 of operating lease expense, inclusive of short-term and variable lease costs which are not significant. The following is a schedule of the maturities of operating lease liabilities for the next five years as of March 31, 2019, and thereafter: Remainder of 2019 $ 1,095 2020 1,536 2021 1,503 2022 1,465 2023 1,329 Thereafter 29,025 Total Lease Payments 35,953 Less Imputed Interest (A) 23,584 Total $ 12,369 (A) Calculated using the discount rate for each lease. As of March 31, 2019, our weighted average remaining lease term for the Operating Leases is 34.4 years and the weighted average discount rate is 7.4% . Future minimum rental payments for the Operating Leases as of December 31, 2018 are as follows: 2019 $ 1,464 2020 1,536 2021 1,503 2022 1,465 2023 1,329 Thereafter 29,025 Total $ 36,322 A number of the Operating Leases include options to extend the lease term. For purposes of determining our lease term, we excluded periods covered by an option since it was not reasonably certain at lease commencement that we would exercise.
Lessor Disclosures	Lessor Disclosures Our properties and certain land parcels are leased to tenants and classified as operating leases. Future minimum rental receipts, excluding variable payments and tenant reimbursements of expenses, under non-cancelable operating leases executed as of March 31, 2019 are approximately as follows: Remainder of 2019 $ 234,032 2020 297,322 2021 254,001 2022 214,069 2023 177,644 Thereafter 467,827 Total $ 1,644,895 Future minimum rental receipts, excluding tenant reimbursements of expenses, under non-cancelable operating leases executed as of December 31, 2018 were approximately as follows: 2019 $ 305,689 2020 288,817 2021 244,743 2022 205,097 2023 169,243 Thereafter 451,151 Total $ 1,664,740 Several of our operating leases include options to extend the lease term. For purposes of determining the lease term, we exclude these option periods unless it is reasonably certain at lease commencement that the option will be exercised. Also, five leases include options that grant the lessee a right to purchase the property at various times at appraised fair market value or at a fixed price. For purposes of determining lease term, we exclude the impact of a purchase option unless it is reasonably certain at lease commencement that the lessee will exercise the option.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events From April 1, 2019 to April 26, 2019 , we acquired one land parcel for a purchase price of approximately $7,400 , excluding costs incurred in conjunction with the acquisition. In addition, we sold part of one industrial property for approximately $1,145 excluding closing costs. From April 1, 2019 to April 26, 2019, the Joint Venture sold one land parcel for gross proceeds of $37,113 .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
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, 2018 ("2018 Form 10-K") and should be read in conjunction with such consolidated financial statements and related notes. The 2018 year end consolidated balance sheet data included in this Form 10-Q filing was derived from the audited consolidated financial statements in our 2018 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, 2018 audited consolidated financial statements included in our 2018 Form 10-K and present interim disclosures as required by the Securities and Exchange Commission.
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 March 31, 2019 and December 31, 2018, and the reported amounts of revenues and expenses for the three months ended March 31, 2019 and 2018. 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 March 31, 2019 and December 31, 2018, the results of our operations and comprehensive income for each of the three months ended March 31, 2019 and 2018, and our cash flows for each of the three months ended March 31, 2019 and 2018. All adjustments are of a normal recurring nature.
Reclassifications	Reclassifications
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842), which amended the existing accounting standards for lease accounting to increase transparency and comparability among organizations by requiring the recognition of right-of-use assets and lease liabilities on the balance sheet. We adopted the standard effective January 1, 2019 and have elected to use January 1, 2019 as our date of initial application. Consequently, financial information will not be updated and disclosures required under the new standard will not be provided for periods presented before January 1, 2019 as these prior periods conform to the Accounting Standards Codification 840. We elected the package of practical expedients permitted under the transition guidance within the new standard. By adopting these practical expedients, we were not required to reassess (1) whether an existing contract meets the definition of a lease; (2) the lease classification for existing leases; or (3) costs previously capitalized as initial direct costs. As a lessor, our rental revenue remained mainly consistent with previous guidance, apart from the narrower definition of initial direct costs that can be capitalized. The new standard defines initial direct costs as only the incremental costs of signing a lease. As such, certain compensation and certain external legal fees related to the execution of successful lease agreements no longer meet the definition of initial direct costs under the new standard and will be accounted for in the line item General and Administrative Expense . However, the adoption of the standard, along with the adoption of ASU No. 2018-11, Leases - Targeted Improvements which the FASB issued in July 2018, did change our presentation of our results from operations in the Consolidated Statements of Operations . The main changes caused by the adoption of the standards are: • The new standard provided a practical expedient, which allows lessors to combine non-lease components with the related lease components if both the timing and pattern of transfer are the same for the non-lease components(s) and the related lease component, and the lease component would be classified as an operating lease. Lessors are permitted to apply the practical expedient to all existing leases on a retrospective or prospective basis. We elected the practical expedient to combine our lease and non-lease components that meet the defined criteria. The non-lease components of our leases primarily consist of common area maintenance reimbursements from our tenants. • The new standard also requires lessors to exclude from variable payments certain lessor costs, such as real estate taxes, that the lessor contractually requires the lessee to pay directly to a third party on its behalf. Several of our leases require tenants to pay real estate taxes directly to taxing authorities. For periods prior to January 1, 2019, we recorded these payments in the line item Property Expenses with an offset in the line item Lease Revenue. For the three months ended March 31, 2018, $1,886 of these payments are included in the aforementioned line items. • The new standard requires our expected credit loss related to the collectability of lease receivables to be reflected as an adjustment to the line item Lease Revenue . For the three months ended March 31, 2018, the credit loss related to the collectibility of lease receivables was recognized in the line item Property Expenses and was not significant. We are a lessee on a limited number of ground and office leases. Under the new standard, the expense pattern for these leases is generally consistent with that of our historical recognition; however, we are required to record right-of-use assets and lease liabilities on our Consolidated Balance Sheets . Operating lease right-of-use assets and liabilities are recognized at commencement of the lease based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on information available at lease commencement to determine the present value of lease payments. For leases that commenced prior to the effective date of the standard, we recognized right-of-use assets and lease liabilities based on the present value of remaining lease payments and the incremental borrowing rate on the date of adoption. We have elected the short term lease exemption for certain qualifying leases with lease terms of twelve months or less and, accordingly, did not record right-of-use assets and lease liabilities. We have also elected the practical expedient to not separate lease and non-lease components. For additional disclosures related to leases, refer to Note 13. In August 2017, the FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeting Improvements to Accounting for Hedging Activities" ("ASU 2017-12"). ASU 2017-12 is intended to better align financial reporting for hedging activities with the economic objectives of those activities. We adopted ASU 2017-02 effective January 1, 2019, and the adoption did not impact our financial condition or results of operations.

Investment in Real Estate Inves

Investment in Real Estate Investment in Real Estate (Tables)	3 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Summary of Acquisition Purchase Price Allocation	Purchase Price Land $ 8,388 Building and Improvements 9,880 Total Purchase Price $ 18,268 The revenue and net income associated with the acquisition of the industrial property and land parcels, since their respective acquisition dates, are not significant for the three months ended March 31, 2019.

Indebtedness (Tables)

Indebtedness (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Summary of Indebtedness	The following table discloses certain information regarding our indebtedness: Outstanding Balance at Interest Effective Interest Rate at Issuance Maturity Date March 31, 2019 December 31, 2018 Mortgage Loans Payable, Gross $ 223,804 $ 297,610 4.03% – 8.26% 4.03% – 8.26% December 2019 – August 2028 Unamortized Debt Issuance Costs (1,030 ) (1,246 ) Unamortized Premiums — 106 Mortgage Loans Payable, Net $ 222,774 $ 296,470 Senior Unsecured Notes, Gross 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 2027 Private Placement Notes 125,000 125,000 4.30% 4.30% 4/20/2027 2028 Private Placement Notes 150,000 150,000 3.86% 3.86% 2/15/2028 2029 Private Placement Notes 75,000 75,000 4.40% 4.40% 4/20/2029 2030 Private Placement Notes 150,000 150,000 3.96% 3.96% 2/15/2030 Subtotal $ 548,571 $ 548,571 Unamortized Debt Issuance Costs (3,886 ) (3,990 ) Unamortized Discounts (76 ) (77 ) Senior Unsecured Notes, Net $ 544,609 $ 544,504 Unsecured Term Loans, Gross 2014 Unsecured Term Loan (A) $ 200,000 $ 200,000 3.39% N/A 1/29/2021 2015 Unsecured Term Loan (A) 260,000 260,000 2.89% N/A 9/12/2022 Subtotal $ 460,000 $ 460,000 Unamortized Debt Issuance Costs (2,927 ) (3,191 ) Unsecured Term Loans, Net $ 457,073 $ 456,809 Unsecured Credit Facility (B) $ 102,000 $ — 3.59% N/A 10/29/2021 _______________ (A) The interest rate at March 31, 2019 also reflects the derivative instruments 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 debt issuance costs of $3,241 and $3,554 as of March 31, 2019 and December 31, 2018, respectively, which are included in the line item Prepaid Expenses and Other Assets, Net .
Schedule of Maturities	The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums, discounts and debt issuance costs, for the next five years as of March 31, and thereafter: Amount Remainder of 2019 $ 5,794 2020 59,046 2021 369,113 2022 341,552 2023 321 Thereafter 558,549 Total $ 1,334,375
Summary of Indebtedness at Estimated Fair Value	At March 31, 2019 and December 31, 2018, the fair value of our indebtedness was as follows: March 31, 2019 December 31, 2018 Carrying Amount (A) Fair Value Carrying Amount (A) Fair Value Mortgage Loans Payable, Net $ 223,804 $ 228,554 $ 297,716 $ 304,508 Senior Unsecured Notes, Net 548,495 567,889 548,494 546,607 Unsecured Term Loans 460,000 461,210 460,000 461,317 Unsecured Credit Facility 102,000 102,126 — — Total $ 1,334,299 $ 1,359,779 $ 1,306,210 $ 1,312,432 _______________ (A) The carrying amounts include unamortized premiums and discounts and exclude unamortized debt issuance costs.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2019
Variable Interest Entities [Abstract]
Other Real Estate Partnerships' Summarized Balance Sheet	The following table summarizes the assets and liabilities of the Other Real Estate Partnerships included in our consolidated balance sheets, net of intercompany amounts: March 31, 2019 December 31, 2018 ASSETS Assets: Net Investment in Real Estate $ 258,041 $ 260,528 Other Assets, Net 24,433 25,059 Total Assets $ 282,474 $ 285,587 LIABILITIES AND PARTNERS' CAPITAL Liabilities: Mortgage Loans Payable, Net $ 13,251 $ 20,497 Other Liabilities, Net 8,348 9,045 Partners' Capital 260,875 256,045 Total Liabilities and Partners' Capital $ 282,474 $ 285,587

Stockholders_ Equity of the C_2

Stockholders’ Equity of the Company and Partners' Capital of the Operating Partnership (Tables)	3 Months Ended
	Mar. 31, 2019
Noncontrolling Interest Rollforward	The following table summarizes the changes in noncontrolling interest for the Company for the three months ended March 31, 2019 and 2018: 2019 2018 Balance as of December 31 $ 34,397 $ 48,077 Net Income 537 1,172 Amortization of Unearned Compensation related to the Issuance of LTIP Units (A) 270 — Other Comprehensive (Loss) Income (140 ) 183 Unit Distributions (664 ) (775 ) Conversion of Limited Partner Units to Common Stock (B) — (5,009 ) Retirement of Limited Partner Units (C) — (934 ) Reallocation - Additional Paid-in-Capital 3,238 292 Reallocation - Other Comprehensive Income 7 — Balance as of March 31 $ 37,645 $ 43,006 _______________ (A) During the three months ended March 31, 2019, 286,986 LTIP Units were issued to certain employees. (B) During the three months ended March 31, 2018, 410,781 Limited Partner Units, were converted into an equivalent number of shares of common stock of the Company.
First Industrial, L.P.
Noncontrolling Interest Rollforward	The following table summarizes the changes in noncontrolling interest for the Operating Partnership for the three months ended March 31, 2019 and 2018: 2019 2018 Balance as of December 31 $ 857 $ 779 Net Income 26 21 Contributions — 116 Distributions (43 ) (21 ) Balance as of March 31 $ 840 $ 895

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income	The following table summarizes the changes in accumulated other comprehensive income by component for the Company and the Operating Partnership for the three months ended March 31, 2019: Derivative Instruments Accumulated Other Comprehensive Income (Loss) of the Operating Partnership Comprehensive (Income) Loss Attributable to Noncontrolling Interest of the Company Accumulated Other Comprehensive Income (Loss) of the Company Balance as of December 31, 2018 $ 3,574 $ 3,574 $ (72 ) $ 3,502 Other Comprehensive Loss Before Reclassifications (5,778 ) (5,778 ) 133 (5,645 ) Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income (552 ) (552 ) — (552 ) Net Current Period Other Comprehensive Loss (6,330 ) (6,330 ) 133 (6,197 ) Balance as of March 31, 2019 $ (2,756 ) $ (2,756 ) $ 61 $ (2,695 )
Reclassification Out of Accumulated Other Comprehensive Income	The following table summarizes the reclassifications out of accumulated other comprehensive income for both the Company and the Operating Partnership for the three months ended March 31, 2019 and 2018: Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income Details about Accumulated Other Comprehensive Income Components Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Affected Line Items in the Consolidated Statements of Operations Derivative Instruments: Amortization of Previously Settled Derivative Instruments $ 24 $ 24 Interest Expense Net Settlement (Receipts) Payments to our Counterparties (576 ) 463 Interest Expense Total $ (552 ) $ 487

Earnings Per Share _ Unit (EP_2

Earnings Per Share / Unit (EPS / EPU) (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 Three Months Ended March 31, 2018 Numerator: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities $ 23,803 $ 36,292 Net Income Allocable to Participating Securities (60 ) (97 ) Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 23,743 $ 36,195 Denominator (In Thousands): Weighted Average Shares - Basic 126,194 119,846 Effect of Dilutive Securities: Performance units (See Note 9) 262 365 Weighted Average Shares - Diluted 126,456 120,211 Basic and Diluted EPS: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 0.19 $ 0.30
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 March 31, 2019 Three Months Ended March 31, 2018 Numerator: Net Income Available to Unitholders and Participating Securities $ 24,314 $ 37,443 Net Income Allocable to Participating Securities (76 ) (97 ) Net Income Available to Unitholders $ 24,238 $ 37,346 Denominator (In Thousands): Weighted Average Units - Basic 128,818 123,729 Effect of Dilutive Securities that Result in the Issuance of General Partner Units: Performance units and certain Performance LTIP Units (See Note 9) 360 365 Weighted Average Units - Diluted 129,178 124,094 Basic and Diluted EPU: Net Income Available to Unitholders $ 0.19 $ 0.30

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value Measurements on Recurring Basis	The following table sets forth our financial assets and liabilities related to the 2015 Swaps, the 2014 Swaps and the 2018 Treasury Locks, which are included in the line items Prepaid Expenses and Other Assets, Net or Accounts Payable, Accrued Expenses and Other Liabilities and are accounted for at fair value on a recurring basis as of March 31, 2019: Fair Value Measurements: Description Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Derivatives designated as a hedging instrument: Assets: 2015 Swaps $ 3,171 — $ 3,171 — Liabilities: 2014 Swaps $ (118 ) — $ (118 ) — 2018 Treasury Locks $ (4,925 ) — $ (4,925 ) —

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule of Maturities of Operating Lease Liabilities	The following is a schedule of the maturities of operating lease liabilities for the next five years as of March 31, 2019, and thereafter: Remainder of 2019 $ 1,095 2020 1,536 2021 1,503 2022 1,465 2023 1,329 Thereafter 29,025 Total Lease Payments 35,953 Less Imputed Interest (A) 23,584 Total $ 12,369 (A) Calculated using the discount rate for each lease.
Lessee, Operating Leases	Future minimum rental payments for the Operating Leases as of December 31, 2018 are as follows: 2019 $ 1,464 2020 1,536 2021 1,503 2022 1,465 2023 1,329 Thereafter 29,025 Total $ 36,322
Lessor, Operating Lease, Payments to be Received, Maturity	Our properties and certain land parcels are leased to tenants and classified as operating leases. Future minimum rental receipts, excluding variable payments and tenant reimbursements of expenses, under non-cancelable operating leases executed as of March 31, 2019 are approximately as follows: Remainder of 2019 $ 234,032 2020 297,322 2021 254,001 2022 214,069 2023 177,644 Thereafter 467,827 Total $ 1,644,895
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum rental receipts, excluding tenant reimbursements of expenses, under non-cancelable operating leases executed as of December 31, 2018 were approximately as follows: 2019 $ 305,689 2020 288,817 2021 244,743 2022 205,097 2023 169,243 Thereafter 451,151 Total $ 1,664,740

Organization - Additional Infor

Organization - Additional Information (Details) ft² in Millions	3 Months Ended
	Mar. 31, 2019ft²PropertyState
Organization [Line Items]
Company's ownership interest	97.80%
Limited partners' ownership interest in the Operating Partnership	2.20%
Number of industrial properties | Property	458
Number of states in which industrial properties are located | State	21
Gross leasable area (GLA) of industrial properties owned | ft²	63.2
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%
Joint Venture
Organization [Line Items]
Equity Method Investment, Ownership Percentage	49.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Real Estate Taxes	$ 1,886

Investment in Real Estate - Add

Investment in Real Estate - Additional Information (Details) $ in Thousands, ft² in Millions	3 Months Ended
	Mar. 31, 2019USD ($)ft²Property
Real Estate Properties [Line Items]
Number of industrial properties	458
Gross leasable area (GLA) of industrial properties | ft²	63.2
Acquisition Activity
Real Estate Properties [Line Items]
Number of industrial properties	1
Gross leasable area (GLA) of industrial properties | ft²	0.2
Number of Land Parcels	2
Disposition Activity
Real Estate Properties [Line Items]
Number of industrial properties	1
Gross leasable area (GLA) of industrial properties | ft²	0.1
Proceeds from sale of industrial properties | $	$ 10,467
Gain on sale of real estate | $	$ 208

Investment in Real Estate Inv_2

Investment in Real Estate Investment in Real Estate - Summary of Purchase Price Allocation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Real Estate [Line Items]
Land	$ 916,235	$ 909,318
Buildings and Improvements	2,714,983	$ 2,704,850
Acquisition Activity
Real Estate [Line Items]
Land	8,388
Buildings and Improvements	9,880
Purchase price of industrial properties acquired	$ 18,268

Indebtedness - Summary of Indeb

Indebtedness - Summary of Indebtedness (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,334,375
Unsecured Credit Facility		102,000	$ 0
2027 Notes
Debt Instrument [Line Items]
Long-term Debt, 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]
Long-term Debt, 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]
Long-term Debt, Gross		$ 10,600	10,600
Interest Rate		7.75%
Effective Interest Rate		7.87%
Maturity Date		Apr. 15, 2032
2027 Private Placement Notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 125,000	125,000
Interest Rate		4.30%
Effective Interest Rate		4.30%
Maturity Date		Apr. 20, 2027
2028 Private Placement Notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 150,000	150,000
Interest Rate		3.86%
Effective Interest Rate		3.86%
Maturity Date		Feb. 15, 2028
2029 Private Placement Notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 75,000	75,000
Interest Rate		4.40%
Effective Interest Rate		4.40%
Maturity Date		Apr. 20, 2029
2030 Private Placement Notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 150,000	150,000
Interest Rate		3.96%
Effective Interest Rate		3.96%
Maturity Date		Feb. 15, 2030
2014 Unsecured Term Loan (A)
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 200,000	200,000
Interest Rate	[1]	3.39%
Maturity Date	[1]	Jan. 29, 2021
2015 Unsecured Term Loan (A)
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 260,000	260,000
Interest Rate	[1]	2.89%
Maturity Date	[1]	Sep. 12, 2022
Mortgage Loans Payable
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 223,804	297,610
Unamortized Debt Issuance Costs		(1,030)	(1,246)
Unamortized Premiums		0	106
Long-term Debt		$ 222,774	296,470
Maturity Date Range, Start		Dec. 1, 2019
Maturity Date Range, End		Aug. 1, 2028
Senior Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 548,571	548,571
Unamortized Debt Issuance Costs		(3,886)	(3,990)
Unamortized Discounts		76	77
Long-term Debt		544,609	544,504
Unsecured Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross		460,000	460,000
Unamortized Debt Issuance Costs		(2,927)	(3,191)
Long-term Debt		457,073	456,809
Unsecured Credit Facility
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs		(3,241)	(3,554)
Unsecured Credit Facility	[2]	$ 102,000	$ 0
Interest Rate	[1]	3.59%
Maturity Date	[2]	Oct. 29, 2021
Minimum | Mortgage Loans Payable
Debt Instrument [Line Items]
Interest Rate		4.03%
Effective Interest Rate		4.03%
Maximum | Mortgage Loans Payable
Debt Instrument [Line Items]
Interest Rate		8.26%
Effective Interest Rate		8.26%
[1]	The interest rate at March 31, 2019 also reflects the derivative instruments 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 debt issuance costs of $3,241 and $3,554 as of March 31, 2019 and December 31, 2018, respectively, which are included in the line item Prepaid Expenses and Other Assets, Net.

Indebtedness - Additional Infor

Indebtedness - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,334,375
Unsecured Credit Facility
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs		$ 3,241	$ 3,554
Interest Rate	[1]	3.59%
Mortgage Loans Payable
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs		$ 1,030	1,246
Extinguishment of debt, amount		72,073
Net carrying value of industrial properties collateralized by mortgage loans		338,533
Long-term Debt, Gross		$ 223,804	297,610
2014 Unsecured Term Loan
Debt Instrument [Line Items]
Interest Rate	[1]	3.39%
Long-term Debt, Gross		$ 200,000	200,000
2015 Unsecured Term Loan
Debt Instrument [Line Items]
Interest Rate	[1]	2.89%
Long-term Debt, Gross		$ 260,000	260,000
2028 Private Placement Notes
Debt Instrument [Line Items]
Interest Rate		3.86%
Long-term Debt, Gross		$ 150,000	150,000
Effective Interest Rate		3.86%
2030 Private Placement Notes
Debt Instrument [Line Items]
Interest Rate		3.96%
Long-term Debt, Gross		$ 150,000	$ 150,000
Effective Interest Rate		3.96%
[1]	The interest rate at March 31, 2019 also reflects the derivative instruments we entered into to effectively convert the variable rate to a fixed rate. See Note 10.

Indebtedness - Schedule of Matu

Indebtedness - Schedule of Maturities (Details) $ in Thousands	Mar. 31, 2019USD ($)
Debt Disclosure [Abstract]
Remainder of 2019	$ 5,794
2020	59,046
2021	369,113
2022	341,552
2023	321
Thereafter	558,549
Total	$ 1,334,375

Indebtedness - Summary of Ind_2

Indebtedness - Summary of Indebtedness at Estimated Fair Value (Details) - USD ($) $ in Thousands		Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Mortgage Loans Payable, Net		$ 228,554	$ 304,508
Senior Unsecured Notes, Net		567,889	546,607
Unsecured Term Loans		461,210	461,317
Unsecured Credit Facility		102,126	0
Total		1,359,779	1,312,432
Carrying Amount (A)
Debt Instrument [Line Items]
Mortgage Loans Payable, Net	[1]	223,804	297,716
Senior Unsecured Notes, Net	[1]	548,495	548,494
Unsecured Term Loans	[1]	460,000	460,000
Unsecured Credit Facility	[1]	102,000	0
Total	[1]	$ 1,334,299	$ 1,306,210
[1]	The carrying amounts include unamortized premiums and discounts and exclude unamortized debt issuance costs.

Variable Interest Entities - Su

Variable Interest Entities - Summarized Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets:
Net Investment in Real Estate	$ 2,898,937	$ 2,861,860
Total Assets	3,178,654	3,142,691
Liabilities and Partners' Capital:
Mortgage Loans Payable, Net	222,774	296,470
Total Liabilities and Equity/Partners' Capital	3,178,654	3,142,691
Other Real Estate Partnerships
Assets:
Net Investment in Real Estate	258,041	260,528
Other Assets, Net	24,433	25,059
Total Assets	282,474	285,587
Liabilities and Partners' Capital:
Mortgage Loans Payable, Net	13,251	20,497
Other Liabilities, Net	8,348	9,045
Partners' Capital	260,875	256,045
Total Liabilities and Equity/Partners' Capital	$ 282,474	$ 285,587

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) - Joint Venture $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)Property
Variable Interest Entity [Line Items]
Number of Acres | Property	532
Purchase price	$ 49,000
Equity Method Investment, Ownership Percentage	49.00%
Number of Land Parcels | Property	1
Proceeds From Sale Of Land Parcels	$ 10,130
Gain on sale of real estate	$ 1,974

Stockholders_ Equity of the C_3

Stockholders’ Equity of the Company and Partners' Capital of the Operating Partnership - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Class of Stock [Line Items]
Restricted stock/Unit awards and LTIP Unit Awards issued	286,986
Limited Partners' Capital Account, Units Retired		33,333
Common Stock Dividends and Unit Distributions	$ 29,922	$ 27,107
Common Stock / Operating Partnership Units
Class of Stock [Line Items]
Conversion of Limited Partner Units to Common Stock / General Partner Units, Shares		410,781
Common Stock Dividends and Unit Distributions	$ 29,922

Stockholders' Equity of the Com

Stockholders' Equity of the Company and Partners' Capital of the Operating Partnership - Summary of Changes in Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Noncontrolling Interest [Line Items]
Beginning Balance	$ 34,397
Net Income	537	$ 1,172
Amortization of Unearned Compensation related to the Issuance of LTIP Units (A)	(2,035)	(4,385)
Other Comprehensive Income (Loss)	(6,330)	6,549
Unit Distributions	(29,922)	(27,107)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	0
Retirement of Limited Partner Units		(934)
Reallocation - Additional Paid-in-Capital	0	0
Reallocation - Other Comprehensive Income	0
Ending Balance	37,645
Noncontrolling Interest
Noncontrolling Interest [Line Items]
Beginning Balance	34,397	48,077
Net Income	537	1,172
Amortization of Unearned Compensation related to the Issuance of LTIP Units (A)	270	0
Other Comprehensive Income (Loss)	(140)	183
Unit Distributions	(664)	(775)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	(5,009)
Retirement of Limited Partner Units	0	(934)
Reallocation - Additional Paid-in-Capital	3,238	292
Reallocation - Other Comprehensive Income	7	0
Ending Balance	37,645	43,006
First Industrial, L.P.
Noncontrolling Interest [Line Items]
Beginning Balance	857
Net Income	26	21
Other Comprehensive Income (Loss)	(6,330)	6,549
Contributions		116
Distributions	(43)	(21)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	0
Retirement of Limited Partner Units		(934)
Ending Balance	840
First Industrial, L.P. | Noncontrolling Interest
Noncontrolling Interest [Line Items]
Beginning Balance	857	779
Net Income	26	21
Contributions	0	116
Distributions	(43)	(21)
Ending Balance	$ 840	$ 895

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Changes in AOCI) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	$ 1,679,911
Ending Balance	1,665,964
Derivative Instruments
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	3,574
Other Comprehensive Loss Before Reclassifications	(5,778)
Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income	(552)
Net Current Period Other Comprehensive Loss	(6,330)
Ending Balance	(2,756)
Comprehensive (Income) Loss Attributable to Noncontrolling Interest of the Company
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(72)
Other Comprehensive Loss Before Reclassifications	133
Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income	0
Net Current Period Other Comprehensive Loss	133
Ending Balance	61
Accumulated Other Comprehensive Income (Loss) of the Company
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	3,502
Other Comprehensive Loss Before Reclassifications	(5,645)
Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income	(552)
Net Current Period Other Comprehensive Loss	(6,197)
Ending Balance	(2,695)
First Industrial, L.P. | Accumulated Other Comprehensive Income (Loss) of the Operating Partnership
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	3,574
Other Comprehensive Loss Before Reclassifications	(5,778)
Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income	(552)
Net Current Period Other Comprehensive Loss	(6,330)
Ending Balance	$ (2,756)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Amounts Reclassified from AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income [Line Items]
Interest Expense - Amortization of Derivative Instruments	$ 12,767	$ 12,791
Total	(13,806)	6,404
Interest Rate Swap | Reclassification out of Accumulated Other Comprehensive Income | Derivative Instruments
Accumulated Other Comprehensive Income [Line Items]
Interest Expense - Amortization of Derivative Instruments	24	24
Interest Expense - Settlement Payments	(576)	463
Total	$ (552)	$ 487

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Amortization to be reclassified from OCI into income	$ 96

Earnings Per Share _ Unit (EP_3

Earnings Per Share / Unit (EPS / EPU) - Computation of Basic and Diluted EPS / EPU (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 23,803	$ 36,292
Net Income Allocable to Participating Securities	(60)	(97)
Net Income Available to Common Stockholders / Unitholders	$ 23,743	$ 36,195
Denominator:
Weighted Average Shares / Units - Basic	126,194	119,846
Performance units and certain Performance LTIP Units (See Note 9)	262	365
Weighted Average Shares / Units - Diluted	126,456	120,211
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders	$ 0.19	$ 0.30
First Industrial, L.P.
Numerator:
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 24,314	$ 37,443
Net Income Allocable to Participating Securities	(76)	(97)
Net Income Available to Common Stockholders / Unitholders	$ 24,238	$ 37,346
Denominator:
Weighted Average Shares / Units - Basic	128,818	123,729
Performance units and certain Performance LTIP Units (See Note 9)	360	365
Weighted Average Shares / Units - Diluted	129,178	124,094
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders	$ 0.19	$ 0.30

Earnings Per Share _ Unit (EP_4

Earnings Per Share / Unit (EPS / EPU) - Additional Information (Details) - shares	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Unvested Restricted Stock / Unit Awards	287,273	410,132
First Industrial, L.P.
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Unvested Restricted Stock / Unit Awards	407,457	410,132

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and LTIP Unit Awards issued	286,986
Amortization related to restricted stock/Unit awards and LTIP Unit Awards	$ 1,762	$ 1,689
Unrecognized compensation related to unvested restricted stock/Unit awards and LTIP Unit Awards	$ 14,923
Weighted average period of unrecognized compensation expected to be recognized	1 year 48 days
Management | Performance Share/Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and LTIP Unit Awards issued	36,064
Fair value of restricted stock/Unit awards and LTIP Unit Awards issued	$ 2,527
Vesting period of restricted stock/Unit awards issued	3 years
Management | LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and LTIP Unit Awards issued	166,942
Management | Restricted Stock/Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and LTIP Unit Awards issued	82,494
Fair value of restricted stock/Unit awards and LTIP Unit Awards issued	$ 6,202
Vesting period of restricted stock/Unit awards issued	3 years
Management | Service LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and LTIP Unit Awards issued	102,198

Derivatives - Additional Inform

Derivatives - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
2018 Treasury Locks
Derivative [Line Items]
Debt instrument, LIBOR Rate	ten-year U.S. Treasury
Swaps, Number of Instruments Held	2
Swaps, Notional Amount	$ 100,000
Swaps, Average Fixed Interest Rate	2.93%
2014 Swaps
Derivative [Line Items]
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, 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 (Details) $ in Thousands	Mar. 31, 2019USD ($)
2015 Swaps
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	$ 3,171
2015 Swaps | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	0
2015 Swaps | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	3,171
2015 Swaps | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	0
2014 Swaps
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	(118)
2014 Swaps | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	0
2014 Swaps | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	(118)
2014 Swaps | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	0
2018 Treasury Locks
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	(4,925)
2018 Treasury Locks | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	0
2018 Treasury Locks | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	(4,925)
2018 Treasury Locks | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	$ 0

Related Party Transactions Rela

Related Party Transactions Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Receivable balance due from a direct wholly-owned subsidiary	$ 10,075	$ 10,118
Joint Venture
Related Party Transaction [Line Items]
Asset Management Fees	74
Receivable balance due from joint venture	$ 83

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands, ft² in Millions	Mar. 31, 2019USD ($)ft²Property
Other Commitments [Line Items]
Number of industrial properties | Property	458
Gross leasable area (GLA) of industrial properties | ft²	63.2
Development Activity
Other Commitments [Line Items]
Number of industrial properties | Property	14
Gross leasable area (GLA) of industrial properties | ft²	3.9
Estimated total investment | $	$ 297,500
Estimated total investment remaining to be funded | $	$ 193,800

Lessee Lease Terms (Details)

Lessee Lease Terms (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Lessee Leases [Line Items]
Ground Leases Terms Minimum	35 years
Ground Leases Terms Maximum	53 years
Operating Lease Expense	$ 448
Weighted Average Remaining Lease Term	34 years 145 days
Weighted Average Discount Rate	7.40%
Minimum
Lessee Leases [Line Items]
Lessee, Remaining Lease Terms for Office Leases	1 year
Maximum
Lessee Leases [Line Items]
Lessee, Remaining Lease Terms for Office Leases	7 years

Lessee Operating Leases (Detail

Lessee Operating Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Operating Lease Liabilities, Payments Due [Abstract]
Remainder of 2019	$ 1,095
2020	1,536
2021	1,503
2022	1,465
2023	1,329
Thereafter	29,025
Total Lease Payments	35,953
Less Imputed Interest	23,584
Operating Lease Liabilities	$ 12,369	$ 0
Operating Leases, Lease Income [Abstract]
2019		1,464
2020		1,536
2021		1,503
2022		1,465
2023		1,329
Thereafter		29,025
Total		$ 36,322

Lessor Operating Leases (Detail

Lessor Operating Leases (Details) $ in Thousands	Mar. 31, 2019USD ($)Property	Dec. 31, 2018USD ($)
Lessor, Lease, Description [Line Items]
Number of industrial properties | Property	458
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
Remainder of 2019	$ 234,032
2020	297,322
2021	254,001
2022	214,069
2023	177,644
Thereafter	467,827
Total	$ 1,644,895
Operating Leases, Future Minimum Payments Receivable [Abstract]
2019		$ 305,689
2020		288,817
2021		244,743
2022		205,097
2023		169,243
Thereafter		451,151
Total		$ 1,664,740
Leases with purchase options [Member]
Lessor, Lease, Description [Line Items]
Number of industrial properties | Property	5

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Apr. 26, 2019USD ($)Property	Mar. 31, 2019USD ($)Property
Subsequent Event [Line Items]
Number of industrial properties		458
Acquisition Activity
Subsequent Event [Line Items]
Number of Land Parcels		2
Purchase price of industrial properties acquired | $		$ 18,268
Number of industrial properties		1
Disposition Activity
Subsequent Event [Line Items]
Number of industrial properties		1
Proceeds from sale of industrial properties | $		$ 10,467
Subsequent Event | Acquisition Activity
Subsequent Event [Line Items]
Number of Land Parcels	1
Purchase price of industrial properties acquired | $	$ 7,400
Subsequent Event | Disposition Activity
Subsequent Event [Line Items]
Number of industrial properties	1
Proceeds from sale of industrial properties | $	$ 1,145
Joint Venture
Subsequent Event [Line Items]
Number of Land Parcels		1
Purchase price of industrial properties acquired | $		$ 49,000
Proceeds From Sale Of Land Parcels | $		$ 10,130
Joint Venture | Subsequent Event | Disposition Activity
Subsequent Event [Line Items]
Number of Land Parcels	1
Proceeds From Sale Of Land Parcels | $	$ 37,113