First Industrial Realty Trust (FR) 10-Q 23 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 23, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	1-13102
Entity Registrant Name	FIRST INDUSTRIAL REALTY TRUST, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	36-3935116
Entity Address, Address Line One	1 N. Wacker Drive, Suite 4200
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	312
Local Phone Number	344-4300
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	FR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000921825
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		129,050,312
First Industrial, L.P.
Entity Information [Line Items]
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Entity File Number	333-21873
Entity Registrant Name	FIRST INDUSTRIAL, L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3924586
Trading Symbol	FRFI
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001033128
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investment in Real Estate:
Land	$ 1,092,966	$ 957,478
Buildings and Improvements	2,914,457	2,782,430
Construction in Progress	86,364	90,301
Less: Accumulated Depreciation	(845,789)	(804,780)
Net Investment in Real Estate	3,247,998	3,025,429
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $1,961 and $0	2,067	0
Operating Lease Right-of-Use Assets	25,363	24,877
Cash and Cash Equivalents	171,121	21,120
Restricted Cash	0	131,598
Tenant Accounts Receivable	4,636	8,529
Investment in Joint Ventures	60,453	18,208
Deferred Rent Receivable	83,010	77,703
Deferred Leasing Intangibles, Net	23,162	28,533
Prepaid Expenses and Other Assets, Net	121,047	182,831
Total Assets	3,738,857	3,518,828
Indebtedness:
Mortgage Loans Payable, Net	155,270	173,685
Senior Unsecured Notes, Net	992,137	694,015
Unsecured Term Loans, Net	458,087	457,865
Unsecured Credit Facility	0	158,000
Accounts Payable, Accrued Expenses and Other Liabilities	116,491	114,637
Operating Lease Liabilities	22,953	22,369
Deferred Leasing Intangibles, Net	11,638	11,893
Rents Received in Advance and Security Deposits	60,105	57,534
Dividends and Distributions Payable	33,577	30,567
Total Liabilities	1,850,258	1,720,565
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 129,050,312 and 126,994,478 shares issued and outstanding)	1,290	1,270
Additional Paid-in-Capital	2,221,552	2,140,847
Distributions in Excess of Accumulated Earnings	(357,682)	(370,835)
Accumulated Other Comprehensive Loss	(19,969)	(6,883)
Total First Industrial Realty Trust, Inc.'s Stockholders' Equity	1,845,191	1,764,399
Noncontrolling Interests	43,408	33,864
Total Equity	1,888,599	1,798,263
Total Liabilities and Equity/Partners' Capital	3,738,857	3,518,828
First Industrial, L.P.
Investment in Real Estate:
Land	1,092,966	957,478
Buildings and Improvements	2,914,457	2,782,430
Construction in Progress	86,364	90,301
Less: Accumulated Depreciation	(845,789)	(804,780)
Net Investment in Real Estate	3,247,998	3,025,429
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $1,961 and $0	2,067	0
Operating Lease Right-of-Use Assets	25,363	24,877
Cash and Cash Equivalents	171,121	21,120
Restricted Cash	0	131,598
Tenant Accounts Receivable	4,636	8,529
Investment in Joint Ventures	60,453	18,208
Deferred Rent Receivable	83,010	77,703
Deferred Leasing Intangibles, Net	23,162	28,533
Prepaid Expenses and Other Assets, Net	130,508	192,852
Total Assets	3,748,318	3,528,849
Indebtedness:
Mortgage Loans Payable, Net	155,270	173,685
Senior Unsecured Notes, Net	992,137	694,015
Unsecured Term Loans, Net	458,087	457,865
Unsecured Credit Facility	0	158,000
Accounts Payable, Accrued Expenses and Other Liabilities	116,491	114,637
Operating Lease Liabilities	22,953	22,369
Deferred Leasing Intangibles, Net	11,638	11,893
Rents Received in Advance and Security Deposits	60,105	57,534
Dividends and Distributions Payable	33,577	30,567
Total Liabilities	1,850,258	1,720,565
Commitments and Contingencies	0	0
First Industrial Realty Trust Inc.’s Stockholders’ Equity/First Industrial, L.P.'s Partners' Capital:
General Partner Units (129,050,312 and 126,994,478 units outstanding)	1,845,742	1,750,656
Limited Partners Units (2,714,242 and 2,422,744 units outstanding)	67,710	63,618
Accumulated Other Comprehensive Loss	(20,388)	(7,013)
Total First Industrial L.P.'s Partners' Capital	1,893,064	1,807,261
Noncontrolling Interests	4,996	1,023
Total Partners' Capital	1,898,060	1,808,284
Total Liabilities and Equity/Partners' Capital	$ 3,748,318	$ 3,528,849

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Real Estate and Other Assets Held for Sale, Accumulated Depreciation and Amortization	$ 1,961	$ 0
Net Investment in Real Estate	3,247,998	3,025,429
Mortgage Loans Payable, Net	$ 155,270	$ 173,685
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	225,000,000	225,000,000
Common Stock, shares issued	129,050,312	126,994,478
Common Stock, shares outstanding	129,050,312	126,994,478
First Industrial, L.P.
Real Estate and Other Assets Held for Sale, Accumulated Depreciation and Amortization	$ 1,961	$ 0
Net Investment in Real Estate	3,247,998	3,025,429
Mortgage Loans Payable, Net	$ 155,270	$ 173,685
General Partner Units, units outstanding	129,050,312	126,994,478
Limited Partner Units, units outstanding	2,714,242	2,422,744
Other Real Estate Partnerships
Net Investment in Real Estate	$ 244,914	$ 240,847
Mortgage Loans Payable, Net	$ 6,334	$ 11,009

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Lease Revenue	$ 109,657	$ 105,369	$ 326,681	$ 312,524
Other Revenue	6,537	1,221	9,058	2,702
Total Revenues	116,194	106,590	335,739	315,226
Expenses:
Property Expenses	30,355	28,396	87,487	85,943
General and Administrative Expense	7,485	6,945	24,970	20,529
Depreciation and Other Amortization	34,369	30,149	97,532	89,978
Total Expenses	72,209	65,490	209,989	196,450
Other Income (Expense):
Gain on Sale of Real Estate	6,525	52,489	29,594	53,378
Interest Expense	(12,775)	(12,466)	(37,864)	(37,565)
Amortization of Debt Issuance Costs	(905)	(805)	(2,477)	(2,430)
Total Other Income (Expense)	(7,155)	39,218	(10,747)	13,383
Income from Operations Before Equity in (Loss) Income of Joint Ventures and Income Tax Benefit (Provision)	36,830	80,318	115,003	132,159
Equity in (Loss) Income of Joint Ventures	(162)	(72)	(236)	16,288
Income Tax Benefit (Provision)	39	(244)	(105)	(3,392)
Net Income	36,707	80,002	114,662	145,055
Less: Net Income Attributable to the Noncontrolling Interests	(748)	(1,691)	(2,400)	(3,141)
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 35,959	$ 78,311	$ 112,262	$ 141,914
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders	$ 0.28	$ 0.62	$ 0.88	$ 1.12
Weighted Average Shares/Units Outstanding - Basic	127,903	126,480	127,306	126,295
Weighted Average Shares/Units Outstanding - Diluted	128,101	126,783	127,495	126,578
First Industrial, L.P.
Revenues:
Lease Revenue	$ 109,657	$ 105,369	$ 326,681	$ 312,524
Other Revenue	6,537	1,221	9,058	2,702
Total Revenues	116,194	106,590	335,739	315,226
Expenses:
Property Expenses	30,355	28,396	87,487	85,943
General and Administrative Expense	7,485	6,945	24,970	20,529
Depreciation and Other Amortization	34,369	30,149	97,532	89,978
Total Expenses	72,209	65,490	209,989	196,450
Other Income (Expense):
Gain on Sale of Real Estate	6,525	52,489	29,594	53,378
Interest Expense	(12,775)	(12,466)	(37,864)	(37,565)
Amortization of Debt Issuance Costs	(905)	(805)	(2,477)	(2,430)
Total Other Income (Expense)	(7,155)	39,218	(10,747)	13,383
Income from Operations Before Equity in (Loss) Income of Joint Ventures and Income Tax Benefit (Provision)	36,830	80,318	115,003	132,159
Equity in (Loss) Income of Joint Ventures	(162)	(72)	(236)	16,288
Income Tax Benefit (Provision)	39	(244)	(105)	(3,392)
Net Income	36,707	80,002	114,662	145,055
Less: Net Income Attributable to the Noncontrolling Interests	(68)	(33)	(212)	(83)
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 36,639	$ 79,969	$ 114,450	$ 144,972
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders	$ 0.28	$ 0.62	$ 0.88	$ 1.12
Weighted Average Shares/Units Outstanding - Basic	129,914	128,837	129,357	128,829
Weighted Average Shares/Units Outstanding - Diluted	130,294	129,256	129,720	129,219

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net Income	$ 36,707	$ 80,002	$ 114,662	$ 145,055
Payments to Settle Derivative Instruments	0	0	0	(3,149)
Acceleration of Derivative Instruments	201	0	201	0
Mark-to-Market Gain (Loss) on Derivative Instruments	2,091	(1,469)	(13,884)	(9,161)
Amortization of Derivative Instruments	103	83	308	131
Comprehensive Income	39,102	78,616	101,287	132,876
Comprehensive Income Attributable to Noncontrolling Interests	(801)	(1,668)	(2,118)	(2,877)
Comprehensive Income Attributable to Common Stockholders / Unitholders	38,301	76,948	99,169	129,999
First Industrial, L.P.
Net Income	36,707	80,002	114,662	145,055
Payments to Settle Derivative Instruments	0	0	0	(3,149)
Acceleration of Derivative Instruments	201	0	201	0
Mark-to-Market Gain (Loss) on Derivative Instruments	2,091	(1,469)	(13,884)	(9,161)
Amortization of Derivative Instruments	103	83	308	131
Comprehensive Income	39,102	78,616	101,287	132,876
Comprehensive Income Attributable to Noncontrolling Interests	(68)	(33)	(212)	(83)
Comprehensive Income Attributable to Common Stockholders / Unitholders	$ 39,034	$ 78,583	$ 101,075	$ 132,793

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, 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)
Reallocation - Additional Paid-in-Capital	0		(3,238)			3,238
Reallocation - Other Comprehensive Income	0				(7)	7
Distributions to Noncontrolling Interests							(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
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	145,055						145,055
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	5	6,856			(6,861)	0	6,861	(6,861)
Ending Balance at Sep. 30, 2019	1,725,320	1,270	2,138,058	(438,337)	(8,444)	32,773
Ending Balance at Sep. 30, 2019							1,735,343	1,681,106	61,987	(8,605)	855
Beginning Balance at Mar. 31, 2019	1,665,964	1,265	2,127,707	(497,958)	(2,695)	37,645
Beginning Balance at Mar. 31, 2019							1,676,029	1,611,556	66,389	(2,756)	840
Increase (Decrease) in Stockholders' Equity / Partners' Capital [Roll Forward]
Net Income	40,713			39,800		913	40,713	39,776	913		24
Other Comprehensive Income (Loss)	(4,463)				(4,362)	(101)	(4,463)			(4,463)
Stock Based Compensation Activity	2,053	0	1,542	0		511
Stock Based Compensation Activity							(2,053)	(1,542)	(511)
Common Stock Dividends and Unit Distributions	(29,864)			(29,212)		(652)
Unit Distributions							(29,864)	(29,212)	(652)
Reallocation - Additional Paid-in-Capital	0		458			(458)
Reallocation - Other Comprehensive Income	0				(1)	1
Contributions from Noncontrolling Interests							5				5
Distributions to Noncontrolling Interests							(21)				(21)
Ending Balance at Jun. 30, 2019	1,674,403	1,265	2,129,707	(487,370)	(7,058)	37,859
Ending Balance at Jun. 30, 2019							1,684,452	1,623,662	67,161	(7,219)	848
Increase (Decrease) in Stockholders' Equity / Partners' Capital [Roll Forward]
Net Income	80,002			78,311		1,691	80,002	78,278	1,691		33
Other Comprehensive Income (Loss)	(1,386)				(1,363)	(23)	(1,386)			(1,386)
Stock Based Compensation Activity	2,131	0	1,583	0		548
Stock Based Compensation Activity							(2,131)	(1,583)	(548)
Common Stock Dividends and Unit Distributions	(29,830)			(29,278)		(552)
Unit Distributions							(29,830)	(29,278)	(552)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	5	6,856			(6,861)	0	6,861	(6,861)
Reallocation - Additional Paid-in-Capital	0		(88)			88
Reallocation - Other Comprehensive Income	0				(23)	23
Contributions from Noncontrolling Interests							5				5
Distributions to Noncontrolling Interests							(31)				(31)
Ending Balance at Sep. 30, 2019	1,725,320	1,270	2,138,058	(438,337)	(8,444)	32,773
Ending Balance at Sep. 30, 2019							1,735,343	1,681,106	61,987	(8,605)	855
Beginning Balance at Dec. 31, 2019	1,798,263	1,270	2,140,847	(370,835)	(6,883)	33,864
Beginning Balance at Dec. 31, 2019							1,808,284	1,750,656	63,618	(7,013)	1,023
Increase (Decrease) in Stockholders' Equity / Partners' Capital [Roll Forward]
Net Income	41,529			40,634		895	41,529	40,584	895		50
Other Comprehensive Income (Loss)	(14,488)				(14,175)	(313)	(14,488)			(14,488)
Stock Based Compensation Activity	(1,835)	0	(1,233)	(2,975)		2,373
Stock Based Compensation Activity							(1,835)	(4,208)	2,373
Common Stock Dividends and Unit Distributions	(32,488)			(31,874)		(614)
Unit Distributions							(32,488)	(31,874)	(614)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	2	2,062			(2,064)	0	2,064	(2,064)
Reallocation - Additional Paid-in-Capital	0		(3,378)			3,378
Reallocation - Other Comprehensive Income	0				4	(4)
Contributions from Noncontrolling Interests							5				5
Distributions to Noncontrolling Interests							(366)				(366)
Ending Balance at Mar. 31, 2020	1,790,981	1,272	2,138,298	(365,050)	(21,054)	37,515
Ending Balance at Mar. 31, 2020							1,800,641	1,757,222	64,208	(21,501)	712
Beginning Balance at Dec. 31, 2019	1,798,263	1,270	2,140,847	(370,835)	(6,883)	33,864
Beginning Balance at Dec. 31, 2019							1,808,284	1,750,656	63,618	(7,013)	1,023
Increase (Decrease) in Stockholders' Equity / Partners' Capital [Roll Forward]
Net Income	114,662						114,662
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	2	2,067			(2,069)	0	2,069	(2,069)
Ending Balance at Sep. 30, 2020	1,888,599	1,290	2,221,552	(357,682)	(19,969)	43,408
Ending Balance at Sep. 30, 2020							1,898,060	1,845,742	67,710	(20,388)	4,996
Beginning Balance at Mar. 31, 2020	1,790,981	1,272	2,138,298	(365,050)	(21,054)	37,515
Beginning Balance at Mar. 31, 2020							1,800,641	1,757,222	64,208	(21,501)	712
Increase (Decrease) in Stockholders' Equity / Partners' Capital [Roll Forward]
Net Income	36,426			35,669		757	36,426	35,575	757		94
Other Comprehensive Income (Loss)	(1,282)				(1,260)	(22)	(1,282)			(1,282)
Stock Based Compensation Activity	3,108	0	1,486	0		1,622
Stock Based Compensation Activity							(3,108)	(1,486)	(1,622)
Common Stock Dividends and Unit Distributions	(32,560)			(31,929)		(631)
Unit Distributions							(32,560)	(31,929)	(631)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	0	1			(1)	0	1	(1)
Reallocation - Additional Paid-in-Capital	0		1,470			(1,470)
Reallocation - Other Comprehensive Income	0				6	(6)
Contributions from Noncontrolling Interests							12				12
Distributions to Noncontrolling Interests							(65)				(65)
Ending Balance at Jun. 30, 2020	1,796,673	1,272	2,141,255	(361,310)	(22,308)	37,764
Ending Balance at Jun. 30, 2020							1,806,280	1,762,355	65,955	(22,783)	753
Increase (Decrease) in Stockholders' Equity / Partners' Capital [Roll Forward]
Net Income	36,707			35,959		748	36,707	35,879	760		68
Other Comprehensive Income (Loss)	2,395				2,342	53	2,395			2,395
Issuance of Common Stock, Net of Issuance Costs	78,349	18	78,331					(78,349)
Stock Based Compensation Activity	3,079	0	1,486	0		1,593
Stock Based Compensation Activity							(3,079)	(1,486)	(1,593)
Common Stock Dividends and Unit Distributions	(32,925)			(32,331)		(594)
Unit Distributions							(32,925)	(32,331)	(594)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	0	4			(4)	0	4	(4)
Reallocation - Additional Paid-in-Capital	0		476			(476)
Reallocation - Other Comprehensive Income	0				(3)	3
Contributions from Noncontrolling Interests	4,321					4,321	4,371				4,371
Distributions to Noncontrolling Interests							(196)				(196)
Ending Balance at Sep. 30, 2020	$ 1,888,599	$ 1,290	$ 2,221,552	$ (357,682)	$ (19,969)	$ 43,408
Ending Balance at Sep. 30, 2020							$ 1,898,060	$ 1,845,742	$ 67,710	$ (20,388)	$ 4,996

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY / PARTNERS' CAPITAL (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Dividends/Distributions Per Share/Unit	$ 0.25	$ 0.25	$ 0.25	$ 0.23	$ 0.23	$ 0.23
First Industrial, L.P.
Dividends/Distributions Per Share/Unit	$ 0.25	$ 0.25	$ 0.25	$ 0.23	$ 0.23	$ 0.23

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 36,707	$ 80,002	$ 114,662	$ 145,055
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation			76,580	73,054
Amortization of Debt Issuance Costs	905	805	2,477	2,430
Other Amortization, including Stock Based Compensation			26,776	21,226
Equity in Loss (Income) of Joint Ventures	162	72	236	(16,288)
Distributions from Joint Ventures			0	16,012
Gain on Sale of Real Estate	(6,525)	(52,489)	(29,594)	(53,378)
Gain on Involuntary Conversion			(6,476)	0
Payments to Settle Derivative Instruments	0	0	0	(3,149)
Straight-line Rental Income and Expense, Net			(6,481)	(7,321)
Decrease (Increase) in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net			3,149	(8,325)
Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits			8,810	20,863
Net Cash Provided by Operating Activities			190,139	190,179
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of Real Estate			(184,883)	(108,468)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs			(150,908)	(211,424)
Net Proceeds from Sales of Investments in Real Estate, Including Sales-Type Lease Receivable			110,049	102,758
Contributions to and Investments in Joint Ventures			(42,744)	0
Distributions from Joint Ventures			0	8,658
Proceeds from Involuntary Conversion			6,476	0
Deposits on Future Acquisitions and Other Investing Activity			(12,345)	(6,459)
Net Cash Used in Investing Activities			(274,355)	(214,935)
CASH FLOWS FROM FINANCING ACTIVITIES:
Financing and Equity Issuance Costs			(3,329)	(953)
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount			78,718	0
Tax Paid on Shares Withheld			(5,944)	(4,384)
Common Stock Dividends and Unit Distributions Paid			(94,493)	(87,490)
Contributions from Noncontrolling Interests			4,321	0
Repayments on Mortgage Loans Payable			(18,654)	(116,518)
Proceeds from Issuance of Unsecured Debt			300,000	150,000
Proceeds from Unsecured Credit Facility			247,000	295,000
Repayments on Unsecured Credit Facility			(405,000)	(217,000)
Net Cash Provided by Financing Activities			102,619	18,655
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash			18,403	(6,101)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year			152,718	50,373
Cash, Cash Equivalents and Restricted Cash, End of Period	171,121	44,272	171,121	44,272
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:
Interest Expense Capitalized in Connection with Development Activity			5,029	4,161
Cash Paid for Operating Lease Liabilities			2,175	1,273
Supplemental Schedule of Non-Cash Operating Activities:
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets			1,208	22,871
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Dividends and Distributions Payable	33,577	30,386	33,577	30,386
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	0	0	0
Lease Reclassification from Operating Lease to Sales Type Lease:
Land	(1,092,966)		(1,092,966)
Deferred Rent Receivable	(83,010)		(83,010)
Assumption of Liabilities in Connection with the Acquisition of Real Estate			6,542	692
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate			24,385	57,872
Write-off of Fully Depreciated Assets			(30,935)	(26,115)
Sales Type Lease
Lease Reclassification from Operating Lease to Sales Type Lease:
Lease Receivable	0	54,521	0	54,521
Land	0	(24,803)	0	(24,803)
Building Net Of Accumulated Depreciation			0	(17,845)
Deferred Rent Receivable	0	(2,073)	0	(2,073)
Other Assets Net Of Accumulated Amortization			0	(1,194)
Sales-type Lease, Selling Profit (Loss)			0	8,606
Noncontrolling Interest
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	748	1,691
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	(4)	(6,861)	(2,069)	(6,861)
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	5	2	5
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	4	6,856	2,067	6,856
First Industrial, L.P.
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	36,707	80,002	114,662	145,055
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation			76,580	73,054
Amortization of Debt Issuance Costs	905	805	2,477	2,430
Other Amortization, including Stock Based Compensation			26,776	21,226
Equity in Loss (Income) of Joint Ventures	162	72	236	(16,288)
Distributions from Joint Ventures			0	16,012
Gain on Sale of Real Estate	(6,525)	(52,489)	(29,594)	(53,378)
Gain on Involuntary Conversion			(6,476)	0
Payments to Settle Derivative Instruments	0	0	0	(3,149)
Straight-line Rental Income and Expense, Net			(6,481)	(7,321)
Decrease (Increase) in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net			3,709	(8,240)
Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits			8,810	20,863
Net Cash Provided by Operating Activities			190,699	190,264
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of Real Estate			(184,883)	(108,468)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs			(150,908)	(211,424)
Net Proceeds from Sales of Investments in Real Estate, Including Sales-Type Lease Receivable			110,049	102,758
Contributions to and Investments in Joint Ventures			(42,744)	0
Distributions from Joint Ventures			0	8,658
Proceeds from Involuntary Conversion			6,476	0
Deposits on Future Acquisitions and Other Investing Activity			(12,345)	(6,459)
Net Cash Used in Investing Activities			(274,355)	(214,935)
CASH FLOWS FROM FINANCING ACTIVITIES:
Financing and Equity Issuance Costs			(3,329)	(953)
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount			78,718	0
Tax Paid on Shares Withheld			(5,944)	(4,384)
Common Stock Dividends and Unit Distributions Paid			(94,493)	(87,490)
Contributions from Noncontrolling Interests			4,388	10
Distributions to Noncontrolling Interests			(627)	(95)
Repayments on Mortgage Loans Payable			(18,654)	(116,518)
Proceeds from Issuance of Unsecured Debt			300,000	150,000
Proceeds from Unsecured Credit Facility			247,000	295,000
Repayments on Unsecured Credit Facility			(405,000)	(217,000)
Net Cash Provided by Financing Activities			102,059	18,570
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash			18,403	(6,101)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year			152,718	50,373
Cash, Cash Equivalents and Restricted Cash, End of Period	171,121	44,272	171,121	44,272
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:
Interest Expense Capitalized in Connection with Development Activity			5,029	4,161
Cash Paid for Operating Lease Liabilities			2,175	1,273
Supplemental Schedule of Non-Cash Operating Activities:
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets			1,208	22,871
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Dividends and Distributions Payable	33,577	30,386	33,577	30,386
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	0	0	0
Lease Reclassification from Operating Lease to Sales Type Lease:
Land	(1,092,966)		(1,092,966)
Deferred Rent Receivable	(83,010)		(83,010)
Assumption of Liabilities in Connection with the Acquisition of Real Estate			6,542	692
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate			24,385	57,872
Write-off of Fully Depreciated Assets			(30,935)	(26,115)
First Industrial, L.P. | Sales Type Lease
Lease Reclassification from Operating Lease to Sales Type Lease:
Lease Receivable	0	54,521	0	54,521
Land	0	(24,803)	0	(24,803)
Building Net Of Accumulated Depreciation			0	(17,845)
Deferred Rent Receivable	0	(2,073)	0	(2,073)
Other Assets Net Of Accumulated Amortization			0	(1,194)
Sales-type Lease, Selling Profit (Loss)			0	8,606
First Industrial, L.P. | Limited Partner Units
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	760	1,691
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	(4)	(6,861)	(2,069)	(6,861)
First Industrial, L.P. | General Partner Units
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	35,879	78,278
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	$ 4	$ 6,861	$ 2,069	$ 6,861

Organization

Organization	9 Months Ended
	Sep. 30, 2020
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 97.9% ownership interest ("General Partner Units") at September 30, 2020. 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 2.1% at September 30, 2020 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 RLP Units of the Operating Partnership (See Note 6) pursuant to the Company's stock incentive plan. We also own equity interests in, and provide various services to, two joint ventures (the "Joint Ventures") through a wholly-owned TRS of the Operating Partnership. The Joint Ventures are accounted for under the equity method of accounting. The operating data of the Joint Ventures 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 Ventures. Profits, losses and distributions of the Operating Partnership, the LLCs, the Other Real Estate Partnerships, the TRSs and the Joint Ventures 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 September 30, 2020, we owned 439 industrial properties located in 20 states, containing an aggregate of approximately 63.0 million square feet of gross leasable area ("GLA"). Of the 439 properties owned on a consolidated basis, none of them are directly owned by the Company.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
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, 2019 ("2019 Form 10-K") and should be read in conjunction with such consolidated financial statements and related notes. The 2019 year end consolidated balance sheet data included in this Form 10-Q filing was derived from the audited consolidated financial statements in our 2019 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, 2019 audited consolidated financial statements included in our 2019 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 September 30, 2020 and December 31, 2019, and the reported amounts of revenues and expenses for the three and nine months ended September 30, 2020 and 2019. 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 September 30, 2020 and December 31, 2019, the results of our operations and comprehensive income for each of the three and nine months ended September 30, 2020 and 2019, and our cash flows for each of the nine months ended September 30, 2020 and 2019. All adjustments are of a normal recurring nature. Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) No. 2020-04 Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform-related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the three months ended March 31, 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In April 2020, the FASB issued a Staff Question-and-Answer ("Q&A") to clarify whether lease concessions related to the effects of COVID-19 require the application of the lease modification guidance under the new lease standard, which we adopted on January 1, 2019. Under the new leasing standard, an entity would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant, which would be accounted for under the lease modification framework, or if the lease concession was under the enforceable rights and obligations that existed in the original lease, which would be accounted for outside the lease modification framework. The Q&A provides entities with the option to elect to account for lease concessions as though the enforceable rights and obligations existed in the original lease as long as the total cash flows from the modified lease are substantially similar to the cash flows in the original lease. We have elected this option and, to the extent that a rent concession is granted as a deferral of payments but total payments are substantially the same, we will account for the concession as if no change has been made to the original lease.

Investment in Real Estate

Investment in Real Estate	9 Months Ended
	Sep. 30, 2020
Real Estate [Abstract]
Investment in Real Estate	Investment in Real Estate Acquisitions During the nine months ended September 30, 2020, we acquired seven industrial properties comprised of approximately 0.9 million square feet of GLA and six land parcels. We accounted for the properties and land parcels as asset acquisitions and therefore capitalized transaction costs to the basis of the acquired assets. The following table summarizes the allocation of the aggregate purchase price to each major asset class for the industrial properties and land parcels acquired during the nine months ended September 30, 2020: Land $ 114,986 Building and Improvements/Construction in Progress 65,964 In-Place Leases 1,642 Above Market Leases 134 Below Market Leases (1,562) Other Assets (leasing commissions) 201 Total Purchase Price $ 181,365 The revenue and net income associated with the acquisition of the industrial properties and land parcels, since their respective acquisition dates, are not significant to the nine months ended September 30, 2020. Real Estate Held for Sale As of September 30, 2020, we had two industrial properties comprised of approximately 0.2 million square feet of GLA held for sale. Sales

Indebtedness

Indebtedness	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Indebtedness	Indebtedness The following table discloses certain information regarding our indebtedness: Outstanding Balance at Interest Effective Maturity September 30, 2020 December 31, 2019 Mortgage Loans Payable, Gross $ 155,706 $ 174,360 4.03% – 4.85% 4.03% – 4.85% October 2021 – Unamortized Debt Issuance Costs (436) (675) Mortgage Loans Payable, Net $ 155,270 $ 173,685 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 2029 II Private Placement Notes 150,000 150,000 3.97% 4.23% 7/23/2029 2030 Private Placement Notes 150,000 150,000 3.96% 3.96% 2/15/2030 2030 II Private Placement Notes 100,000 — 2.74% 2.74% 9/17/2030 2032 Private Placement Notes 200,000 — 2.84% 2.84% 9/17/2032 Subtotal $ 998,571 $ 698,571 Unamortized Debt Issuance Costs (6,368) (4,485) Unamortized Discounts (66) (71) Senior Unsecured Notes, Net $ 992,137 $ 694,015 Unsecured Term Loans, Gross 2014 Unsecured Term Loan $ — $ 200,000 N/A N/A N/A 2015 Unsecured Term Loan (A) 260,000 260,000 2.89% N/A 9/12/2022 2020 Unsecured Term Loan (A) 200,000 — 3.79% N/A 7/15/2021 Subtotal $ 460,000 $ 460,000 Unamortized Debt Issuance Costs (1,913) (2,135) Unsecured Term Loans, Net $ 458,087 $ 457,865 Unsecured Credit Facility (B) $ — $ 158,000 N/A N/A 10/29/2021 _______________ (A) The interest rate at September 30, 2020 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 $1,366 and $2,300 as of September 30, 2020 and December 31, 2019, respectively, which are included in the line item Prepaid Expenses and Other Assets, Net. Mortgage Loans Payable, Net During the nine months ended September 30, 2020, we paid off mortgage loans in the amount of $15,115. As of September 30, 2020, mortgage loans payable are collateralized, and in some instances cross-collateralized, by industrial properties with a net carrying value of $237,939. We believe the Operating Partnership and the Company were in compliance with all covenants relating to mortgage loans as of September 30, 2020. Senior Unsecured Notes, Net During the nine months ended September 30, 2020, the Operating Partnership issued $100,000 of 2.74% Series F Guaranteed Senior Notes due September 17, 2030 (the “2030 II Private Placement Notes”) and $200,000 of 2.84% Series G Guaranteed Senior Notes due September 17, 2032 (the “2032 Private Placement Notes”) (together with the 2027 Private Placement Notes, the 2028 Private Placement Notes, the 2029 Private Placement Notes, the 2029 II Private Placement Notes and the 2030 Private Placement Notes (each as described within this footnote), collectively, the "Private Placement Notes") in a private placement pursuant to a Note and Guaranty Agreement dated July 7, 2020. The 2030 II Private Placement Notes and the 2032 Private Placement Notes are unsecured obligations of the Operating Partnership that are fully and unconditionally guaranteed by the Company and require semi-annual interest payments. Unsecured Term Loans On July 15, 2020, we entered into a $200,000 unsecured term loan (the "2020 Unsecured Term Loan"). The 2020 Unsecured Term Loan replaces the 2014 Unsecured Term Loan that was previously scheduled to mature in January 2021. The 2020 Unsecured Term Loan matures on July 15, 2021, however, we have two, one-year extension options at our election, subject to the satisfaction of certain conditions. The 2020 Unsecured Term Loan allows us to request incremental term loans in an aggregate amount equal to $100,000 and provides for interest-only payments initially at LIBOR plus 150 basis points. The rate is subject to adjust based on our investment grade rating. As noted in Note 10, we entered into the 2021 Swaps to effectively convert the rate applicable under the 2020 Unsecured Term Loan to a fixed interest rate of approximately 2.49% per annum based on the current LIBOR spread beginning in February 2021. 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 September 30, and thereafter: Amount Remainder of 2020 $ 1,159 2021 267,294 2022 336,954 2023 321 2024 335 Thereafter 1,008,214 Total $ 1,614,277 Our unsecured credit facility (the "Unsecured Credit Facility"), our unsecured term loans (the "Unsecured Term Loans"), our 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 September 30, 2020, 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 September 30, 2020 and December 31, 2019, the fair value of our indebtedness was as follows: September 30, 2020 December 31, 2019 Carrying Amount (A) Fair Carrying Amount (A) Fair Mortgage Loans Payable, Net $ 155,706 $ 161,311 $ 174,360 $ 179,287 Senior Unsecured Notes, Net 998,505 1,092,155 698,500 756,351 Unsecured Term Loans 460,000 458,968 460,000 460,902 Unsecured Credit Facility — — 158,000 158,141 Total $ 1,614,211 $ 1,712,434 $ 1,490,860 $ 1,554,681 _______________ (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	9 Months Ended
	Sep. 30, 2020
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: September 30, 2020 December 31, 2019 ASSETS Assets: Net Investment in Real Estate $ 244,914 $ 240,847 Other Assets, Net 42,778 69,982 Total Assets $ 287,692 $ 310,829 LIABILITIES AND PARTNERS' CAPITAL Liabilities: Mortgage Loans Payable, Net $ 6,334 $ 11,009 Other Liabilities, Net 24,066 21,088 Partners' Capital 257,292 278,732 Total Liabilities and Partners' Capital $ 287,692 $ 310,829 Joint Ventures Through a wholly-owned TRS of the Operating Partnership, we own a 49% interest in a joint venture with a third party partner for the purpose of developing, leasing, operating and potentially selling land located in the Phoenix, Arizona metropolitan area ("Joint Venture I"). During the three months ended September 30, 2020, we entered into a second joint venture with third party partners for the purpose of developing, leasing, operating and potentially selling land in the Phoenix, Arizona metropolitan area ("Joint Venture II", and together with Joint Venture I, collectively, the "Joint Ventures"). The purchase price of the land was $70,530 and was acquired by Joint Venture II via cash equity contributions from us and our joint venture partners. Through a wholly-owned TRS of the Operating Partnership, we own a 43% interest in Joint Venture II. See Note 6. Under the operating agreements for each of the Joint Ventures, we act as the managing member of each Joint Venture and are entitled to receive fees for providing management, leasing, development, construction supervision, disposition and asset management services to each Joint Venture. In addition, both of the Joint Ventures' operating agreements provide us the ability to earn incentive fees based on the ultimate financial performance of the Joint Ventures. Joint Venture I has a 0.6 million square foot building under development (the "Project") at September 30, 2020. In connection with the Project, the Joint Venture I entered into a construction loan with a capacity of $28,000 with a third party lender (the "Joint Venture I Loan") during the nine months ended September 30, 2020. At September 30, 2020, the Joint Venture I Loan has a $4,826 outstanding balance. With respect to Joint Venture I Loan, we provided a guarantee to the lender, which, upon default of the loan, would require us to pay up to six months of interest and Project operating expenses with a maximum obligation of $500. Additionally, we provided the lender and our third party joint venture partner guarantees that require timely completion of construction of the Project as well as the payment, subject to certain exceptions, of cost overruns incurred in the development of the Project. Total estimated investment for the Project is $41,500 and Joint Venture I is using a third-party contractor to develop the building pursuant to a guaranteed maximum price contract. Lastly, we provided a guarantee to the lender related to typical non-recourse exceptions and an environmental indemnity. It is not possible to estimate the amount of additional costs, if any, that we may incur in connection with our completion guarantees to the third party lender and/or our joint venture partner as well as the non-recourse exception and environmental indemnity guarantees, however, we do not expect that we will be required to make any significant payments in satisfaction of these guarantees. During the three and nine months ended September 30, 2020, we recognized fees of $166 and $353 from the Joint Ventures related to asset management and development services we provided to the Joint Ventures. At September 30, 2020, we had an aggregate receivable from the Joint Ventures of $262. As part of our assessment of the appropriate accounting treatment for the Joint Ventures, we reviewed the operating agreements of each Joint Venture in order to determine our rights and the rights of our joint venture partners, including whether those rights are protective or participating. We found each operating agreement contains certain protective rights, such as the requirement of both members' approvals 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 partners 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 each Joint Venture. As such, we concluded to account for our investments in each 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	9 Months Ended
	Sep. 30, 2020
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 Limited Partner Units issued in connection with the grant of restricted limited partner Units ("RLP Units") pursuant to the Company's stock incentive plan, are collectively referred to as the “Noncontrolling Interests.” An RLP 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 and is an award that is granted under our stock incentive plan. See Note 9. Subject to vesting and other certain exceptions (including the “book-up” requirements of RLP Units), 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. Noncontrolling Interest - Joint Venture II Our ownership interest in Joint Venture II is held through a partnership with a third party. We concluded that we hold the power to direct the activities that most significantly impact the economic performance of the partnership. As a result, we consolidate the partnership and reflect the third party's interest in Joint Venture II as Noncontrolling Interests. ATM Program On February 14, 2020, we entered into distribution agreements with certain sales agents to sell up to 14,000,000 shares of the Company's common stock, for up to $500,000 aggregate gross sales proceeds, from time to time in "at-the-market" offerings (the "ATM"). Under the terms of the ATM, sales are to be made through transactions that are deemed to be "at-the-market" offerings, including sales made directly on the New York Stock Exchange, sales made through a market maker other than on an exchange or sales made through privately negotiated transactions. During the three months ended September 30, 2020, we issued 1,842,281 shares of the Company's common stock under the ATM which resulted in $78,718 of proceeds, which is net of the payment of compensation to certain sales agents of $795.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2020
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 nine months ended September 30, 2020: Derivative Instruments Accumulated Other Comprehensive Loss of the Operating Partnership Comprehensive Loss Attributable to Noncontrolling Interest of the Company Accumulated Other Comprehensive Loss of the Company Balance as of December 31, 2019 $ (7,013) $ (7,013) $ 130 $ (6,883) Other Comprehensive Loss Before Reclassifications (18,222) (18,222) 289 (17,933) Amounts Reclassified from Accumulated Other Comprehensive Loss 4,847 4,847 — 4,847 Net Current Period Other Comprehensive Loss (13,375) (13,375) 289 (13,086) Balance as of September 30, 2020 $ (20,388) $ (20,388) $ 419 $ (19,969) The following table summarizes the reclassifications out of accumulated other comprehensive income for both the Company and the Operating Partnership for the three and nine months ended September 30, 2020 and 2019: Amounts Reclassified from Accumulated Details about Accumulated Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Affected Line Items in the Consolidated Statements of Operations Derivative Instruments: Amortization of Previously Settled Derivative Instruments $ 103 $ 83 $ 308 $ 131 Interest Expense Net Settlement Payments (Receipts) to our Counterparties 2,250 (287) 4,338 (1,413) Interest Expense Acceleration of 2020 Swap (as defined in Note 10) 201 — 201 — General & Administrative Total $ 2,554 $ (204) $ 4,847 $ (1,282)

Earnings Per Share _ Unit (EPS

Earnings Per Share / Unit (EPS / EPU)	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Numerator: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities $ 35,959 $ 78,311 $ 112,262 $ 141,914 Net Income Allocable to Participating Securities (59) (170) (177) (319) Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 35,900 $ 78,141 $ 112,085 $ 141,595 Denominator (In Thousands): Weighted Average Shares - Basic 127,903 126,480 127,306 126,295 Effect of Dilutive Securities: Performance Units (See Note 9) 198 303 189 283 Weighted Average Shares - Diluted 128,101 126,783 127,495 126,578 Basic and Diluted EPS: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 0.28 $ 0.62 $ 0.88 $ 1.12 The computation of basic and diluted EPU of the Operating Partnership is presented below: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Numerator: Net Income Available to Unitholders and Participating Securities $ 36,639 $ 79,969 $ 114,450 $ 144,972 Net Income Allocable to Participating Securities (125) (249) (374) (453) Net Income Available to Unitholders $ 36,514 $ 79,720 $ 114,076 $ 144,519 Denominator (In Thousands): Weighted Average Units - Basic 129,914 128,837 129,357 128,829 Effect of Dilutive Securities: Performance Units and certain Performance RLP Units (See Note 6) 380 419 363 390 Weighted Average Units - Diluted 130,294 129,256 129,720 129,219 Basic and Diluted EPU: Net Income Available to Unitholders $ 0.28 $ 0.62 $ 0.88 $ 1.12 At September 30, 2020 and 2019, participating securities for the Company include 211,920 and 274,624, respectively, of Service Awards (see Note 9), which participate in non-forfeitable distributions. At September 30, 2020 and 2019, participating securities for the Operating Partnership include 444,407 and 400,181, respectively, of Service Awards and certain Performance Awards (See Note 9), 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	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Long-Term Compensation	Long-Term Compensation Awards with Performance Measures During the nine months ended September 30, 2020, 59,263 performance units ("Performance Units") and 322,477 RLP Units, based on performance-based criteria ("Performance RLP Units" and, together with the Performance Units, collectively the "Performance Awards") were granted to certain employees, which had a fair value of approximately $7,883 on the grant date as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation. A portion of each Performance Award vests based upon the total shareholder return ("TSR") of the Company's common stock compared to the TSRs of the FTSE Nareit All Equity Index and the remainder vests based upon the TSR of the Company’s common stock compared to nine other peer industrial real estate companies. The performance periods for such awards are one year, two years and three years. Compensation expense is charged to earnings over the applicable vesting period for the Performance Awards. At the end of the measuring period, vested Performance Units convert into shares of common stock. Service Based Awards For the nine months ended September 30, 2020, 80,387 shares of restricted stock units ("Service Units") and 119,596 RLP Units based on service-based criteria ("Service RLP Units" and together with the Service Units, collectively the "Service Awards") were granted to certain employees and outside directors, which had an aggregate fair value of approximately $8,641 on the date such awards were approved by the Compensation Committee of the Board of Directors. The Service Awards granted to employees generally vest ratably over three years based on continued employment. Service Awards granted to outside directors vest after one year. Compensation expense is charged to earnings over the vesting periods for the Service Awards. At the end of the service period, vested Service Units convert into shares of common stock. Retirement Eligibility Commencing January 1, 2020, all award agreements issued underlying Performance Awards and Service Awards contain a retirement benefit for employees with at least 10 years of continuous service and are at least 60 years old. For employees that meet the age and service eligibility requirements, their awards are non -forfeitable. As such, during the nine months ended September 30, 2020, we expensed 100% of the awards granted to retirement-eligible employees at the grant date as if fully vested. For employees who will meet the age and service eligibility requirements during the normal vesting periods, the grants are amortized over the shorter service period. Outstanding Performance Awards and Service Awards We recognized $3,078 and $2,130 for the three months ended September 30, 2020 and 2019, respectively, and $9,827 and $5,945 for the nine months ended September 30, 2020 and 2019, respectively, in compensation expense related to the amortization of the Service Awards and the Performance Awards. Service Award and Performance Award amortization capitalized in connection with development activities was $358 and $243 for the three months ended September 30, 2020 and 2019, and $1,670 and $684 for the nine months ended September 30, 2020 and 2019. At September 30, 2020, we had $15,845 in unrecognized compensation related to unvested Service Awards and Performance Awards. The weighted average period that the unrecognized compensation is expected to be recognized is 0.92 years.

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2020
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. Cash Flow Hedge s In connection with the origination of the 2014 Unsecured Term Loan, the 2015 Unsecured Term Loan and the 2020 Unsecured Term Loan (see Note 4), we entered into interest rate swaps to manage our exposure to changes in the one-month LIBOR rate. We have four interest rate swaps, with an aggregate notional value of $200,000, that fix the one-month LIBOR rate at a weighted average rate of 2.29% and mature on January 29, 2021 (the "2014 Swaps"), six interest rate swaps, with an aggregate notional value of $260,000, that fix the one-month LIBOR rate at a weighted average rate of 1.79% and mature on September 12, 2022 (the "2015 Swaps") and three interest rate swaps with an aggregate notional value of $200,000, that fix the one-month LIBOR rate at 0.99% that are effective commencing February 1, 2021 and mature on February 2, 2026 (the "2021 Swaps"). We designated the 2014 Swaps, the 2015 Swaps and the 2021 Swaps as cash flow hedges. Additionally, during the nine months ended September 30, 2020, we entered into an interest rate swap to manage our exposure to changes in the one-month LIBOR rate related to our Unsecured Credit Facility (the "2020 Swap"). The 2020 Swap commenced April 1, 2020, matures on April 1, 2021, has a notional value of $150,000 and fixes the one-month LIBOR rate at 0.42%. We initially designated the 2020 Swap as a cash flow hedge. During the three months ended September 30, 2020, however, we accelerated the reclassification of the fair value of the 2020 Swap from other comprehensive income to earnings since the hedged forecasted transaction is no longer expected to be probable to occur. The accelerated loss recorded on the 2020 Swap for the three months ended September 30, 2020 was not significant. Our agreements with our derivative counterparties contain certain cross-default provisions that may be triggered in the event that our other indebtedness is in default, subject to certain thresholds. As of September 30, 2020, 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 liabilities related to the 2014 Swaps, the 2015 Swaps, the 2020 Swap and the 2021 Swaps which are included in the line item Accounts Payable, Accrued Expenses and Other Liabilities and are accounted for at fair value on a recurring basis as of September 30, 2020: Fair Value Measurements: Description Fair Value Quoted Prices in Significant Other Unobservable Derivatives designated as a hedging instrument: 2014 Swaps $ (1,416) — $ (1,416) — 2015 Swaps $ (8,420) — $ (8,420) — 2021 Swaps $ (7,035) — $ (7,035) — Derivatives not designated as a hedging instrument: 2020 Swap $ (201) — $ (201) — There was no ineffectiveness recorded on the 2014 Swaps, the 2015 Swaps, or the 2021 Swaps during the nine months ended September 30, 2020. See Note 7 for more information regarding our derivatives. The estimated fair value of the 2014 Swaps, the 2015 Swaps, the 2020 Swap and the 2021 Swaps was determined using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments are incorporated in the fair value to account for potential non-performance risk, including our own non-performance risk and the respective counterparty's non-performance risk. We determined that the significant inputs used to value the 2014 Swaps, the 2015 Swaps, the 2020 Swap and the 2021 Swaps fell within Level 2 of the fair value hierarchy.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Related Party TransactionsAt September 30, 2020 and December 31, 2019, the Operating Partnership had receivable balances of $9,471 and $10,031, respectively, from a direct wholly-owned subsidiary of the Company.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the normal course of business, we are involved in legal actions arising from the ownership of our industrial properties. In our opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a materially adverse effect on our consolidated financial position, operations or liquidity. In conjunction with the development of industrial properties, we have entered into agreements with general contractors for the construction of industrial properties. At September 30, 2020, we had six industrial properties totaling approximately 1.1 million square feet of GLA under construction. The estimated total investment as of September 30, 2020 is approximately $104,900. Of this amount, approximately $48,000 remains to be funded. There can be no assurance that the actual completion cost will not exceed the estimated total investment.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events From October 1, 2020 to October 23, 2020, we sold two industrial properties for gross proceeds of $5,610, excluding transaction costs. From October 1, 2020 to October 23, 2020, Joint Venture I sold two land parcels for gross proceeds of $22,429, excluding transaction costs.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe 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, 2019 ("2019 Form 10-K") and should be read in conjunction with such consolidated financial statements and related notes. The 2019 year end consolidated balance sheet data included in this Form 10-Q filing was derived from the audited consolidated financial statements in our 2019 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, 2019 audited consolidated financial statements included in our 2019 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 September 30, 2020 and December 31, 2019, and the reported amounts of revenues and expenses for the three and nine months ended September 30, 2020 and 2019. 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 September 30, 2020 and December 31, 2019, the results of our operations and comprehensive income for each of the three and nine months ended September 30, 2020 and 2019, and our cash flows for each of the nine months ended September 30, 2020 and 2019. All adjustments are of a normal recurring nature.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) No. 2020-04 Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform-related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the three months ended March 31, 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In April 2020, the FASB issued a Staff Question-and-Answer ("Q&A") to clarify whether lease concessions related to the effects of COVID-19 require the application of the lease modification guidance under the new lease standard, which we adopted on January 1, 2019. Under the new leasing standard, an entity would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant, which would be accounted for under the lease modification framework, or if the lease concession was under the enforceable rights and obligations that existed in the original lease, which would be accounted for outside the lease modification framework. The Q&A provides entities with the option to elect to account for lease concessions as though the enforceable rights and obligations existed in the original lease as long as the total cash flows from the modified lease are substantially similar to the cash flows in the original lease. We have elected this option and, to the extent that a rent concession is granted as a deferral of payments but total payments are substantially the same, we will account for the concession as if no change has been made to the original lease.

Investment in Real Estate Inves

Investment in Real Estate Investment in Real Estate (Tables)	9 Months Ended
	Sep. 30, 2020
Real Estate [Abstract]
Summary of Acquisition Purchase Price Allocation	Land $ 114,986 Building and Improvements/Construction in Progress 65,964 In-Place Leases 1,642 Above Market Leases 134 Below Market Leases (1,562) Other Assets (leasing commissions) 201 Total Purchase Price $ 181,365 The revenue and net income associated with the acquisition of the industrial properties and land parcels,

Indebtedness (Tables)

Indebtedness (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of Indebtedness	The following table discloses certain information regarding our indebtedness: Outstanding Balance at Interest Effective Maturity September 30, 2020 December 31, 2019 Mortgage Loans Payable, Gross $ 155,706 $ 174,360 4.03% – 4.85% 4.03% – 4.85% October 2021 – Unamortized Debt Issuance Costs (436) (675) Mortgage Loans Payable, Net $ 155,270 $ 173,685 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 2029 II Private Placement Notes 150,000 150,000 3.97% 4.23% 7/23/2029 2030 Private Placement Notes 150,000 150,000 3.96% 3.96% 2/15/2030 2030 II Private Placement Notes 100,000 — 2.74% 2.74% 9/17/2030 2032 Private Placement Notes 200,000 — 2.84% 2.84% 9/17/2032 Subtotal $ 998,571 $ 698,571 Unamortized Debt Issuance Costs (6,368) (4,485) Unamortized Discounts (66) (71) Senior Unsecured Notes, Net $ 992,137 $ 694,015 Unsecured Term Loans, Gross 2014 Unsecured Term Loan $ — $ 200,000 N/A N/A N/A 2015 Unsecured Term Loan (A) 260,000 260,000 2.89% N/A 9/12/2022 2020 Unsecured Term Loan (A) 200,000 — 3.79% N/A 7/15/2021 Subtotal $ 460,000 $ 460,000 Unamortized Debt Issuance Costs (1,913) (2,135) Unsecured Term Loans, Net $ 458,087 $ 457,865 Unsecured Credit Facility (B) $ — $ 158,000 N/A N/A 10/29/2021 _______________ (A) The interest rate at September 30, 2020 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 $1,366 and $2,300 as of September 30, 2020 and December 31, 2019, respectively, which are included in the line item
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 September 30, and thereafter: Amount Remainder of 2020 $ 1,159 2021 267,294 2022 336,954 2023 321 2024 335 Thereafter 1,008,214 Total $ 1,614,277
Summary of Indebtedness at Estimated Fair Value	At September 30, 2020 and December 31, 2019, the fair value of our indebtedness was as follows: September 30, 2020 December 31, 2019 Carrying Amount (A) Fair Carrying Amount (A) Fair Mortgage Loans Payable, Net $ 155,706 $ 161,311 $ 174,360 $ 179,287 Senior Unsecured Notes, Net 998,505 1,092,155 698,500 756,351 Unsecured Term Loans 460,000 458,968 460,000 460,902 Unsecured Credit Facility — — 158,000 158,141 Total $ 1,614,211 $ 1,712,434 $ 1,490,860 $ 1,554,681 _______________ (A) The carrying amounts include unamortized premiums and discounts and exclude unamortized debt issuance costs.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2020
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: September 30, 2020 December 31, 2019 ASSETS Assets: Net Investment in Real Estate $ 244,914 $ 240,847 Other Assets, Net 42,778 69,982 Total Assets $ 287,692 $ 310,829 LIABILITIES AND PARTNERS' CAPITAL Liabilities: Mortgage Loans Payable, Net $ 6,334 $ 11,009 Other Liabilities, Net 24,066 21,088 Partners' Capital 257,292 278,732 Total Liabilities and Partners' Capital $ 287,692 $ 310,829

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2020
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 nine months ended September 30, 2020: Derivative Instruments Accumulated Other Comprehensive Loss of the Operating Partnership Comprehensive Loss Attributable to Noncontrolling Interest of the Company Accumulated Other Comprehensive Loss of the Company Balance as of December 31, 2019 $ (7,013) $ (7,013) $ 130 $ (6,883) Other Comprehensive Loss Before Reclassifications (18,222) (18,222) 289 (17,933) Amounts Reclassified from Accumulated Other Comprehensive Loss 4,847 4,847 — 4,847 Net Current Period Other Comprehensive Loss (13,375) (13,375) 289 (13,086) Balance as of September 30, 2020 $ (20,388) $ (20,388) $ 419 $ (19,969)
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 and nine months ended September 30, 2020 and 2019: Amounts Reclassified from Accumulated Details about Accumulated Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Affected Line Items in the Consolidated Statements of Operations Derivative Instruments: Amortization of Previously Settled Derivative Instruments $ 103 $ 83 $ 308 $ 131 Interest Expense Net Settlement Payments (Receipts) to our Counterparties 2,250 (287) 4,338 (1,413) Interest Expense Acceleration of 2020 Swap (as defined in Note 10) 201 — 201 — General & Administrative Total $ 2,554 $ (204) $ 4,847 $ (1,282)

Earnings Per Share _ Unit (EP_2

Earnings Per Share / Unit (EPS / EPU) (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Numerator: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities $ 35,959 $ 78,311 $ 112,262 $ 141,914 Net Income Allocable to Participating Securities (59) (170) (177) (319) Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 35,900 $ 78,141 $ 112,085 $ 141,595 Denominator (In Thousands): Weighted Average Shares - Basic 127,903 126,480 127,306 126,295 Effect of Dilutive Securities: Performance Units (See Note 9) 198 303 189 283 Weighted Average Shares - Diluted 128,101 126,783 127,495 126,578 Basic and Diluted EPS: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 0.28 $ 0.62 $ 0.88 $ 1.12
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 September 30, 2020 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Numerator: Net Income Available to Unitholders and Participating Securities $ 36,639 $ 79,969 $ 114,450 $ 144,972 Net Income Allocable to Participating Securities (125) (249) (374) (453) Net Income Available to Unitholders $ 36,514 $ 79,720 $ 114,076 $ 144,519 Denominator (In Thousands): Weighted Average Units - Basic 129,914 128,837 129,357 128,829 Effect of Dilutive Securities: Performance Units and certain Performance RLP Units (See Note 6) 380 419 363 390 Weighted Average Units - Diluted 130,294 129,256 129,720 129,219 Basic and Diluted EPU: Net Income Available to Unitholders $ 0.28 $ 0.62 $ 0.88 $ 1.12

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value Measurements on Recurring Basis	The following table sets forth our financial liabilities related to the 2014 Swaps, the 2015 Swaps, the 2020 Swap and the 2021 Swaps which are included in the line item Accounts Payable, Accrued Expenses and Other Liabilities and are accounted for at fair value on a recurring basis as of September 30, 2020: Fair Value Measurements: Description Fair Value Quoted Prices in Significant Other Unobservable Derivatives designated as a hedging instrument: 2014 Swaps $ (1,416) — $ (1,416) — 2015 Swaps $ (8,420) — $ (8,420) — 2021 Swaps $ (7,035) — $ (7,035) — Derivatives not designated as a hedging instrument: 2020 Swap $ (201) — $ (201) —

Organization - Additional Infor

Organization - Additional Information (Details) ft² in Millions	9 Months Ended
	Sep. 30, 2020ft²StateProperty
Organization [Line Items]
Number of industrial properties | Property	439
Number of states in which industrial properties are located | State	20
Gross leasable area (GLA) of industrial properties owned | ft²	63
Ownership
Organization [Line Items]
Company's ownership interest	97.90%
Limited partners' ownership interest in the Operating Partnership	2.10%
Other Real Estate Partnerships
Organization [Line Items]
Company's ownership interest	100.00%
Number of Other Real Estate Partnerships	8
Operating Partnership's minimum ownership interest in the Other Real Estate Partnerships	99.00%
General partners' minimum ownership interest in the Other Real Estate Partnerships	0.01%

Investment in Real Estate - Add

Investment in Real Estate - Additional Information (Details) $ in Thousands, ft² in Millions	9 Months Ended
	Sep. 30, 2020USD ($)ft²Property
Real Estate Properties [Line Items]
Number of industrial properties	439
Gross leasable area (GLA) of industrial properties | ft²	63
Acquisition Activity
Real Estate Properties [Line Items]
Number of industrial properties	7
Gross leasable area (GLA) of industrial properties | ft²	0.9
Number of Land Parcels	6
Held for Sale Activity
Real Estate Properties [Line Items]
Number of industrial properties	2
Gross leasable area (GLA) of industrial properties | ft²	0.2
Disposition Activity
Real Estate Properties [Line Items]
Number of industrial properties	14
Gross leasable area (GLA) of industrial properties | ft²	1.2
Proceeds from sale of industrial properties | $	$ 110,926
Gain on sale of real estate | $	$ 29,594

Investment in Real Estate Inv_2

Investment in Real Estate Investment in Real Estate - Summary of Purchase Price Allocation (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Real Estate [Line Items]
Land	$ 1,092,966	$ 957,478
Buildings and Improvements	2,914,457	$ 2,782,430
Acquisition Activity
Real Estate [Line Items]
Land	114,986
Buildings and Improvements	65,964
Other Assets	201
Purchase price of industrial properties acquired	181,365
Acquisition Activity | In-Place Leases
Real Estate [Line Items]
Acquired finite lived intangible assets, fair value	1,642
Acquisition Activity | Above Market Leases [Member]
Real Estate [Line Items]
Acquired finite lived intangible assets, fair value	134
Acquisition Activity | Below Market Leases
Real Estate [Line Items]
Acquired finite lived intangible liabilities, fair value	$ (1,562)

Indebtedness - Summary of Indeb

Indebtedness - Summary of Indebtedness (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2020	Jul. 15, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,614,277
Unsecured Credit Facility		0		$ 158,000
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
2029 II Private Placement Notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 150,000		150,000
Interest Rate		3.97%
Effective Interest Rate		4.23%
Maturity Date		Jul. 23, 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
2030 II Private Placement Notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 100,000		0
Interest Rate		2.74%
Effective Interest Rate		2.74%
Maturity Date		Sep. 17, 2030
2032 Private Placement Notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 200,000		0
Interest Rate		2.84%
Effective Interest Rate		2.84%
Maturity Date		Sep. 17, 2032
2014 Unsecured Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 0		200,000
2015 Unsecured Term Loan (A)
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 260,000		260,000
Interest Rate		2.89%
Maturity Date		Sep. 12, 2022
2020 Unsecured Term Loan (A)
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 200,000	$ 200,000	0
Interest Rate		3.79%
Maturity Date		Jul. 15, 2021
Mortgage Loans Payable
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 155,706		174,360
Unamortized Debt Issuance Costs		(436)		(675)
Long-term Debt		$ 155,270		173,685
Maturity Date Range, Start		Oct. 1, 2021
Maturity Date Range, End		Aug. 1, 2028
Senior Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 998,571		698,571
Unamortized Debt Issuance Costs		(6,368)		(4,485)
Unamortized Discounts		(66)		(71)
Long-term Debt		992,137		694,015
Unsecured Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross		460,000		460,000
Unamortized Debt Issuance Costs		(1,913)		(2,135)
Long-term Debt		458,087		457,865
Unsecured Credit Facility
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs		(1,366)		(2,300)
Unsecured Credit Facility	[1]	$ 0		$ 158,000
Maturity Date	[1]	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		4.85%
Effective Interest Rate		4.85%
[1]	The maturity date may be extended an additional year at our election, subject to certain restrictions. Amounts exclude unamortized debt issuance costs of $1,366 and $2,300 as of September 30, 2020 and December 31, 2019, respectively, which are included in the line item Prepaid Expenses and Other Assets, Net.

Indebtedness - Additional Infor

Indebtedness - Additional Information (Details) - USD ($) $ in Thousands		Jul. 15, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term Debt, Gross			$ 1,614,277
2020 Swap
Debt Instrument [Line Items]
Debt instrument, LIBOR Rate			one-month LIBOR
Swaps, Average Fixed Interest Rate			0.42%
Unsecured Credit Facility
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs			$ 1,366	$ 2,300
Maturity Date	[1]		Oct. 29, 2021
Mortgage Loans Payable
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs			$ 436	675
Extinguishment of Debt, Amount			15,115
Net carrying value of industrial properties collateralized by mortgage loans			237,939
Long-term Debt, Gross			155,706	174,360
2030 II Private Placement Notes
Debt Instrument [Line Items]
Long-term Debt, Gross			$ 100,000	0
Interest Rate			2.74%
Effective Interest Rate			2.74%
Maturity Date			Sep. 17, 2030
2032 Private Placement Notes
Debt Instrument [Line Items]
Long-term Debt, Gross			$ 200,000	0
Interest Rate			2.84%
Effective Interest Rate			2.84%
Maturity Date			Sep. 17, 2032
2020 Unsecured Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 200,000	$ 200,000	$ 0
Interest Rate			3.79%
Maturity Date			Jul. 15, 2021
Incremental Term Loan Capacity		$ 100,000
Debt instrument, LIBOR Rate		LIBOR
Debt Instrument, Basis Spread		1.50%
Swaps, Average Fixed Interest Rate		2.49%
[1]	The maturity date may be extended an additional year at our election, subject to certain restrictions. Amounts exclude unamortized debt issuance costs of $1,366 and $2,300 as of September 30, 2020 and December 31, 2019, respectively, which are included in the line item Prepaid Expenses and Other Assets, Net.

Indebtedness - Schedule of Matu

Indebtedness - Schedule of Maturities (Details) $ in Thousands	Sep. 30, 2020USD ($)
Debt Disclosure [Abstract]
Remainder of 2020	$ 1,159
2021	267,294
2022	336,954
2023	321
2024	335
Thereafter	1,008,214
Total	$ 1,614,277

Indebtedness - Summary of Ind_2

Indebtedness - Summary of Indebtedness at Estimated Fair Value (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Mortgage Loans Payable, Net		$ 161,311	$ 179,287
Senior Unsecured Notes, Net		1,092,155	756,351
Unsecured Term Loans		458,968	460,902
Unsecured Credit Facility		0	158,141
Total		1,712,434	1,554,681
Carrying Amount (A)
Debt Instrument [Line Items]
Mortgage Loans Payable, Net	[1]	155,706	174,360
Senior Unsecured Notes, Net	[1]	998,505	698,500
Unsecured Term Loans	[1]	460,000	460,000
Unsecured Credit Facility	[1]	0	158,000
Total	[1]	$ 1,614,211	$ 1,490,860
[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	Sep. 30, 2020	Dec. 31, 2019
Assets:
Net Investment in Real Estate	$ 3,247,998	$ 3,025,429
Total Assets	3,738,857	3,518,828
Liabilities and Partners' Capital:
Mortgage Loans Payable, Net	155,270	173,685
Total Liabilities and Equity/Partners' Capital	3,738,857	3,518,828
Other Real Estate Partnerships
Assets:
Net Investment in Real Estate	244,914	240,847
Other Assets, Net	42,778	69,982
Total Assets	287,692	310,829
Liabilities and Partners' Capital:
Mortgage Loans Payable, Net	6,334	11,009
Other Liabilities, Net	24,066	21,088
Partners' Capital	257,292	278,732
Total Liabilities and Equity/Partners' Capital	$ 287,692	$ 310,829

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) $ in Thousands, ft² in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)ft²	Sep. 30, 2020USD ($)ft²	Dec. 31, 2019USD ($)
Variable Interest Entity [Line Items]
Gross leasable area (GLA) of industrial properties owned | ft²	63	63
Net Investment in Real Estate	$ 3,247,998	$ 3,247,998	$ 3,025,429
Joint Venture I
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	49.00%	49.00%
Gross leasable area (GLA) of industrial properties owned | ft²	0.6	0.6
Construction Loan	$ 28,000	$ 28,000
Construction Loan Outstanding Balance	4,826	4,826
Interest And Operating Expenses, Maximum Obligation	500	500
Net Investment in Real Estate	$ 41,500	$ 41,500
Joint Venture II
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	43.00%	43.00%
Purchase price	$ 70,530
Joint Ventures
Variable Interest Entity [Line Items]
Asset Management Fees	166	$ 353
Receivable balance due from joint venture	$ 262	$ 262

Stockholders_ Equity of the C_2

Stockholders’ Equity of the Company and Partners' Capital of the Operating Partnership - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Feb. 14, 2020
Class of Stock [Line Items]
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount		$ 78,718	$ 0
ATM [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	1,842,281
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount	$ 78,718
Commission To Sales Agent	$ 795
ATM [Member]
Class of Stock [Line Items]
Shares of company stock issuable under an at-the-market offering				14,000,000
Aggregate Gross Sale Proceeds				$ 500,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Changes in AOCI) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	$ 1,798,263
Ending Balance	1,888,599
Derivative Instruments
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(7,013)
Other Comprehensive Loss Before Reclassifications	(18,222)
Amounts Reclassified from Accumulated Other Comprehensive Loss	4,847
Net Current Period Other Comprehensive Loss	(13,375)
Ending Balance	(20,388)
Comprehensive Loss Attributable to Noncontrolling Interest of the Company
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	130
Other Comprehensive Loss Before Reclassifications	289
Amounts Reclassified from Accumulated Other Comprehensive Loss	0
Net Current Period Other Comprehensive Loss	289
Ending Balance	419
Accumulated Other Comprehensive Loss of the Company
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(6,883)
Other Comprehensive Loss Before Reclassifications	(17,933)
Amounts Reclassified from Accumulated Other Comprehensive Loss	4,847
Net Current Period Other Comprehensive Loss	(13,086)
Ending Balance	(19,969)
First Industrial, L.P. | Accumulated Other Comprehensive Loss of the Operating Partnership
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(7,013)
Other Comprehensive Loss Before Reclassifications	(18,222)
Amounts Reclassified from Accumulated Other Comprehensive Loss	4,847
Net Current Period Other Comprehensive Loss	(13,375)
Ending Balance	$ (20,388)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Amounts Reclassified from AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income [Line Items]
Acceleration of 2020 Swap	$ 7,485	$ 6,945	$ 24,970	$ 20,529
Nonoperating Income (Expense)	(7,155)	39,218	(10,747)	13,383
Interest Rate Swap | Reclassification out of Accumulated Other Comprehensive Income | Derivative Instruments
Accumulated Other Comprehensive Income [Line Items]
Interest Expense - Amortization of Derivative Instruments	103	83	308	131
Interest Expense - Settlement Payments	2,250	(287)	4,338	(1,413)
Acceleration of 2020 Swap	201	0	201	0
Nonoperating Income (Expense)	$ 2,554	$ (204)	$ 4,847	$ (1,282)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Amortization to be reclassified from OCI into income	$ 410

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 35,959	$ 78,311	$ 112,262	$ 141,914
Net Income Allocable to Participating Securities	(59)	(170)	(177)	(319)
Net Income Available to Common Stockholders / Unitholders	$ 35,900	$ 78,141	$ 112,085	$ 141,595
Denominator:
Weighted Average Shares / Units - Basic	127,903	126,480	127,306	126,295
Performance Units (See Note 9) / Performance Units and certain Performance RLP Units (See Note 6)	198	303	189	283
Weighted Average Shares / Units - Diluted	128,101	126,783	127,495	126,578
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders	$ 0.28	$ 0.62	$ 0.88	$ 1.12
First Industrial, L.P.
Numerator:
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 36,639	$ 79,969	$ 114,450	$ 144,972
Net Income Allocable to Participating Securities	(125)	(249)	(374)	(453)
Net Income Available to Common Stockholders / Unitholders	$ 36,514	$ 79,720	$ 114,076	$ 144,519
Denominator:
Weighted Average Shares / Units - Basic	129,914	128,837	129,357	128,829
Performance Units (See Note 9) / Performance Units and certain Performance RLP Units (See Note 6)	380	419	363	390
Weighted Average Shares / Units - Diluted	130,294	129,256	129,720	129,219
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders	$ 0.28	$ 0.62	$ 0.88	$ 1.12

Earnings Per Share _ Unit (EP_4

Earnings Per Share / Unit (EPS / EPU) - Additional Information (Details) - shares	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Unvested Restricted Stock / Unit Awards	211,920	274,624
First Industrial, L.P.
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Unvested Restricted Stock / Unit Awards	444,407	400,181

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amortization related to restricted stock/Unit awards and RLP Unit Awards	$ 3,078	$ 2,130	$ 9,827	$ 5,945
Share-based Payment Arrangement, Amount Capitalized	358	$ 243	1,670	$ 684
Unrecognized compensation related to unvested restricted stock/Unit awards and RLP Unit Awards	15,845		$ 15,845
Weighted average period of unrecognized compensation expected to be recognized			11 months 1 day
Management | Performance Share/Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and RLP Unit Awards issued			59,263
Fair value of restricted stock/Unit awards and RLP Unit Awards issued	7,883		$ 7,883
Vesting period of restricted stock/Unit awards issued			3 years
Management | Performance RLP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and RLP Unit Awards issued			322,477
Management | Restricted Stock/Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and RLP Unit Awards issued			80,387
Fair value of restricted stock/Unit awards and RLP Unit Awards issued	$ 8,641		$ 8,641
Vesting period of restricted stock/Unit awards issued			3 years
Management | Service RLP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock/Unit awards and RLP Unit Awards issued			119,596
Director | Restricted Stock/Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of restricted stock/Unit awards issued			1 year

Derivatives - Additional Inform

Derivatives - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
2014 Swaps
Derivative [Line Items]
Swaps, Number of Instruments Held	4
Derivative, Notional Amount	$ 200,000
Debt instrument, LIBOR Rate	one-month LIBOR
Swaps, Average Fixed Interest Rate	2.29%
2015 Swaps
Derivative [Line Items]
Swaps, Number of Instruments Held	6
Derivative, Notional Amount	$ 260,000
Debt instrument, LIBOR Rate	one-month LIBOR
Swaps, Average Fixed Interest Rate	1.79%
2021 Swaps
Derivative [Line Items]
Swaps, Number of Instruments Held	3
Derivative, Notional Amount	$ 200,000
Debt instrument, LIBOR Rate	one-month LIBOR
Swaps, Average Fixed Interest Rate	0.99%
2020 Swap
Derivative [Line Items]
Derivative, Notional Amount	$ 150,000
Debt instrument, LIBOR Rate	one-month LIBOR
Swaps, Average Fixed Interest Rate	0.42%

Derivatives - Fair Value Measur

Derivatives - Fair Value Measurements on Recurring Basis (Details) $ in Thousands	Sep. 30, 2020USD ($)
2014 Swaps
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	$ (1,416)
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	(1,416)
2014 Swaps | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	0
2015 Swaps
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	(8,420)
2015 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
2015 Swaps | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	(8,420)
2015 Swaps | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	0
2021 Swaps
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	(7,035)
2021 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
2021 Swaps | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	(7,035)
2021 Swaps | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Liability, Fair Value	0
2020 Swap
Derivatives, Fair Value [Line Items]
Other Derivatives Not Designated as Hedging Instruments Liabilities at Fair Value	(201)
2020 Swap | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivatives, Fair Value [Line Items]
Other Derivatives Not Designated as Hedging Instruments Liabilities at Fair Value	0
2020 Swap | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Derivatives, Fair Value [Line Items]
Other Derivatives Not Designated as Hedging Instruments Liabilities at Fair Value	(201)
2020 Swap | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Other Derivatives Not Designated as Hedging Instruments Liabilities at Fair Value	$ 0

Related Party Transactions Rela

Related Party Transactions Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Receivable balance due from a direct wholly-owned subsidiary	$ 9,471	$ 10,031

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands, ft² in Millions	Sep. 30, 2020USD ($)ft²Property
Other Commitments [Line Items]
Number of industrial properties | Property	439
Gross leasable area (GLA) of industrial properties | ft²	63
Development Activity
Other Commitments [Line Items]
Number of industrial properties | Property	6
Gross leasable area (GLA) of industrial properties | ft²	1.1
Estimated total investment | $	$ 104,900
Estimated total investment remaining to be funded | $	$ 48,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Thousands	1 Months Ended	9 Months Ended
	Oct. 23, 2020USD ($)Property	Sep. 30, 2020USD ($)Property
Subsequent Event [Line Items]
Number of industrial properties		439
Disposition Activity
Subsequent Event [Line Items]
Number of industrial properties		14
Proceeds from sale of industrial properties | $		$ 110,926
Subsequent Event | Disposition Activity
Subsequent Event [Line Items]
Number of industrial properties	2
Proceeds from sale of industrial properties | $	$ 5,610
Subsequent Event | Disposition Activity | Joint Venture I
Subsequent Event [Line Items]
Number of Land Parcels	2
Proceeds From Sale Of Land Parcels | $	$ 22,429