First Industrial Realty Trust (FR) 10-Q 22 Jul 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 22, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000921825
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		132,071,473
First Industrial, L.P.
Entity Information [Line Items]
Document Type	10-Q
Document Period End Date	Jun. 30, 2022
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	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001033128
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Investment in Real Estate:
Land	$ 1,542,565	$ 1,387,198
Buildings and Improvements	3,221,939	3,020,221
Construction in Progress	316,398	239,025
Less: Accumulated Depreciation	(907,967)	(868,296)
Net Investment in Real Estate	4,172,935	3,778,148
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $7,165 and $0	297	0
Operating Lease Right-of-Use Assets	24,594	24,927
Cash and Cash Equivalents	135,233	58,591
Restricted Cash	0	189
Tenant Accounts Receivable	5,267	5,104
Investment in Joint Venture	8,415	36,049
Deferred Rent Receivable	108,096	98,727
Deferred Leasing Intangibles, Net	24,080	21,316
Prepaid Expenses and Other Assets, Net	184,201	156,047
Total Assets	4,663,118	4,179,098
Indebtedness:
Mortgage Loans Payable, Net	10,454	79,674
Senior Unsecured Notes, Net	993,382	993,021
Unsecured Term Loans, Net	620,952	458,325
Unsecured Credit Facility	282,000	79,000
Accounts Payable, Accrued Expenses and Other Liabilities	210,007	153,096
Operating Lease Liabilities	22,275	22,592
Deferred Leasing Intangibles, Net	12,436	9,252
Rents Received in Advance and Security Deposits	99,694	98,588
Dividends and Distributions Payable	40,359	37,178
Total Liabilities	2,291,559	1,930,726
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 132,071,473 and 131,747,725 shares issued and outstanding)	1,321	1,317
Additional Paid-in Capital	2,393,462	2,376,026
Distributions in Excess of Accumulated Earnings	(104,544)	(178,293)
Accumulated Other Comprehensive Income (Loss)	12,371	(4,238)
Total First Industrial Realty Trust, Inc.'s Equity	2,302,610	2,194,812
Noncontrolling Interests	68,949	53,560
Total Equity	2,371,559	2,248,372
Total Liabilities and Equity/Partners' Capital	4,663,118	4,179,098
First Industrial, L.P.
Investment in Real Estate:
Land	1,542,565	1,387,198
Buildings and Improvements	3,221,939	3,020,221
Construction in Progress	316,398	239,025
Less: Accumulated Depreciation	(907,967)	(868,296)
Net Investment in Real Estate	4,172,935	3,778,148
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $7,165 and $0	297	0
Operating Lease Right-of-Use Assets	24,594	24,927
Cash and Cash Equivalents	135,233	58,591
Restricted Cash	0	189
Tenant Accounts Receivable	5,267	5,104
Investment in Joint Venture	8,415	36,049
Deferred Rent Receivable	108,096	98,727
Deferred Leasing Intangibles, Net	24,080	21,316
Prepaid Expenses and Other Assets, Net	193,375	165,282
Total Assets	4,672,292	4,188,333
Indebtedness:
Mortgage Loans Payable, Net	10,454	79,674
Senior Unsecured Notes, Net	993,382	993,021
Unsecured Term Loans, Net	620,952	458,325
Unsecured Credit Facility	282,000	79,000
Accounts Payable, Accrued Expenses and Other Liabilities	210,007	153,096
Operating Lease Liabilities	22,275	22,592
Deferred Leasing Intangibles, Net	12,436	9,252
Rents Received in Advance and Security Deposits	99,694	98,588
Dividends and Distributions Payable	40,359	37,178
Total Liabilities	2,291,559	1,930,726
Commitments and Contingencies	0	0
First Industrial Realty Trust Inc.’s Stockholders’ Equity/First Industrial, L.P.'s Partners' Capital:
General Partner Units (132,071,473 and 131,747,725 units outstanding)	2,264,149	2,175,549
Limited Partners Units (3,125,796 and 2,935,203 units outstanding)	89,066	81,435
Accumulated Other Comprehensive Income (Loss)	12,665	(4,331)
Total First Industrial L.P.'s Partners' Capital	2,365,880	2,252,653
Noncontrolling Interests	14,853	4,954
Total Partners' Capital	2,380,733	2,257,607
Total Liabilities and Equity/Partners' Capital	$ 4,672,292	$ 4,188,333

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Real Estate and Other Assets Held for Sale, Accumulated Depreciation and Amortization	$ 7,165	$ 0
Net Investment in Real Estate	$ 4,172,935	$ 3,778,148
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	225,000,000	225,000,000
Common Stock, shares issued	132,071,473	131,747,725
Common Stock, shares outstanding	132,071,473	131,747,725
First Industrial, L.P.
Real Estate and Other Assets Held for Sale, Accumulated Depreciation and Amortization	$ 7,165	$ 0
Net Investment in Real Estate	$ 4,172,935	$ 3,778,148
General Partner Units, units outstanding	132,071,473	131,747,725
Limited Partner Units, units outstanding	3,125,796	2,935,203
Other Real Estate Partnerships
Net Investment in Real Estate	$ 294,734	$ 277,984

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Lease Revenue	$ 128,957	$ 116,764	$ 253,869	$ 232,431
Other Revenue	1,092	634	1,693	1,226
Total Revenues	130,049	117,398	255,562	233,657
Expenses:
Property Expenses	34,860	31,748	70,275	64,990
General and Administrative	8,249	8,469	16,990	17,033
Depreciation and Other Amortization	36,470	32,446	70,380	64,421
Total Expenses	79,579	72,663	157,645	146,444
Other Income (Expense):
Gain on Sale of Real Estate	297	22,854	297	57,499
Interest Expense	(10,374)	(11,852)	(20,010)	(24,525)
Amortization of Debt Issuance Costs	(730)	(935)	(1,486)	(1,884)
Total Other Income (Expense)	(10,807)	10,067	(21,199)	31,090
Income from Operations Before Equity in Income (Loss) of Joint Ventures and Income Tax Provision	39,663	54,802	76,718	118,303
Equity in Income (Loss) of Joint Ventures	118,211	(66)	118,189	(139)
Income Tax Provision	(24,198)	(1,575)	(24,108)	(1,420)
Net Income	133,676	53,161	170,799	116,744
Less: Net Income Attributable to the Noncontrolling Interests	(16,685)	(1,225)	(17,550)	(2,610)
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 116,991	$ 51,936	$ 153,249	$ 114,134
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders - Basic	$ 0.89	$ 0.40	$ 1.16	$ 0.88
Net Income Available to Common Stockholders / Unitholders - Diluted	$ 0.88	$ 0.40	$ 1.16	$ 0.88
Weighted Average Shares/Units Outstanding - Basic	132,051	129,098	131,932	129,093
Weighted Average Shares/Units Outstanding - Diluted	132,106	129,187	131,997	129,179
First Industrial, L.P.
Revenues:
Lease Revenue	$ 128,957	$ 116,764	$ 253,869	$ 232,431
Other Revenue	1,092	634	1,693	1,226
Total Revenues	130,049	117,398	255,562	233,657
Expenses:
Property Expenses	34,860	31,748	70,275	64,990
General and Administrative	8,249	8,469	16,990	17,033
Depreciation and Other Amortization	36,470	32,446	70,380	64,421
Total Expenses	79,579	72,663	157,645	146,444
Other Income (Expense):
Gain on Sale of Real Estate	297	22,854	297	57,499
Interest Expense	(10,374)	(11,852)	(20,010)	(24,525)
Amortization of Debt Issuance Costs	(730)	(935)	(1,486)	(1,884)
Total Other Income (Expense)	(10,807)	10,067	(21,199)	31,090
Income from Operations Before Equity in Income (Loss) of Joint Ventures and Income Tax Provision	39,663	54,802	76,718	118,303
Equity in Income (Loss) of Joint Ventures	118,211	(66)	118,189	(139)
Income Tax Provision	(24,198)	(1,575)	(24,108)	(1,420)
Net Income	133,676	53,161	170,799	116,744
Less: Net Income Attributable to the Noncontrolling Interests	(14,257)	(21)	(14,275)	(39)
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 119,419	$ 53,140	$ 156,524	$ 116,705
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders - Basic	$ 0.89	$ 0.40	$ 1.16	$ 0.89
Net Income Available to Common Stockholders / Unitholders - Diluted	$ 0.89	$ 0.40	$ 1.16	$ 0.88
Weighted Average Shares/Units Outstanding - Basic	134,278	131,188	134,176	131,180
Weighted Average Shares/Units Outstanding - Diluted	134,590	131,704	134,543	131,669

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net Income	$ 133,676	$ 53,161	$ 170,799	$ 116,744
Mark-to-Market Gain on Derivative Instruments	5,696	189	16,791	6,842
Amortization of Derivative Instruments	103	103	205	205
Comprehensive Income	139,475	53,453	187,795	123,791
Comprehensive Income Attributable to Noncontrolling Interests	(16,819)	(1,235)	(17,946)	(2,768)
Comprehensive Income Attributable to Common Stockholders / Unitholders	122,656	52,218	169,849	121,023
First Industrial, L.P.
Net Income	133,676	53,161	170,799	116,744
Mark-to-Market Gain on Derivative Instruments	5,696	189	16,791	6,842
Amortization of Derivative Instruments	103	103	205	205
Comprehensive Income	139,475	53,453	187,795	123,791
Comprehensive Income Attributable to Noncontrolling Interests	(14,257)	(21)	(14,275)	(39)
Comprehensive Income Attributable to Common Stockholders / Unitholders	$ 125,218	$ 53,432	$ 173,520	$ 123,752

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY/ PARTNERS' CAPITAL - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Distributions in Excess of Accumulated Earnings	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interests	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 Interests
Beginning Balance at Dec. 31, 2020	$ 1,947,320	$ 1,290	$ 2,224,691	$ (306,294)	$ (16,953)	$ 44,586
Beginning Balance at Dec. 31, 2020							$ 1,956,690	$ 1,898,635	$ 70,435	$ (17,308)	$ 4,928
Increase (Decrease) in Equity / Partners' Capital [Roll Forward]
Net Income	63,583			62,198		1,385	63,583	62,176	1,389		18
Other Comprehensive Income (Loss)	6,755				6,607	148	$ 6,755			6,755
Stock Based Compensation Activity	$ (1,055)	1	(1,347)	(2,294)		2,585
Dividends/Distributions Per Share/Unit	$ 0.270						$ 0.270
Stock Based Compensation Activity							$ (1,055)	(3,640)	2,585
Common Stock Dividends and Unit Distributions	$ (35,718)			(34,933)		(785)
Unit Distributions							(35,718)	(34,933)	(785)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	0	22			(22)	0	22	(22)
Reallocation - Additional Paid-in Capital	0		(2,110)			2,110
Reallocation - Other Comprehensive Income	0				34	(34)
Contributions from Noncontrolling Interests							29				29
Distributions to Noncontrolling Interests							(24)				(24)
Ending Balance at Mar. 31, 2021	1,980,885	1,291	2,221,256	(281,323)	(10,312)	49,973
Ending Balance at Mar. 31, 2021							1,990,260	1,922,260	73,602	(10,553)	4,951
Beginning Balance at Dec. 31, 2020	1,947,320	1,290	2,224,691	(306,294)	(16,953)	44,586
Beginning Balance at Dec. 31, 2020							1,956,690	1,898,635	70,435	(17,308)	4,928
Increase (Decrease) in Equity / Partners' Capital [Roll Forward]
Net Income	116,744						116,744
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	0	22			(22)	0	22	(22)
Ending Balance at Jun. 30, 2021	2,002,048	1,291	2,224,561	(264,317)	(10,026)	50,539
Ending Balance at Jun. 30, 2021							2,011,400	1,940,266	76,446	(10,261)	4,949
Beginning Balance at Mar. 31, 2021	1,980,885	1,291	2,221,256	(281,323)	(10,312)	49,973
Beginning Balance at Mar. 31, 2021							1,990,260	1,922,260	73,602	(10,553)	4,951
Increase (Decrease) in Equity / Partners' Capital [Roll Forward]
Net Income	53,161			51,936		1,225	53,161	51,913	1,227		21
Other Comprehensive Income (Loss)	292				282	10	$ 292			292
Stock Based Compensation Activity	$ 3,451	0	1,023	0		2,428
Dividends/Distributions Per Share/Unit	$ 0.270						$ 0.270
Stock Based Compensation Activity							$ 3,451	1,023	2,428
Common Stock Dividends and Unit Distributions	$ (35,741)			(34,930)		(811)
Unit Distributions							(35,741)	(34,930)	(811)
Reallocation - Additional Paid-in Capital	0		2,282			(2,282)
Reallocation - Other Comprehensive Income	0				4	(4)
Distributions to Noncontrolling Interests							(23)				(23)
Ending Balance at Jun. 30, 2021	2,002,048	1,291	2,224,561	(264,317)	(10,026)	50,539
Ending Balance at Jun. 30, 2021							2,011,400	1,940,266	76,446	(10,261)	4,949
Beginning Balance at Dec. 31, 2021	2,248,372	1,317	2,376,026	(178,293)	(4,238)	53,560
Beginning Balance at Dec. 31, 2021							2,257,607	2,175,549	81,435	(4,331)	4,954
Increase (Decrease) in Equity / Partners' Capital [Roll Forward]
Net Income	37,123			36,258		865	37,123	36,237	868		18
Other Comprehensive Income (Loss)	11,197				10,935	262	11,197			11,197
Issuance of Common Stock/Contribution of General Partner Units, Net of Issuance Costs	12,746	2	12,744				$ 12,746	12,746
Stock Based Compensation Activity	$ 2,721	1	(198)	(1,483)		4,401
Dividends/Distributions Per Share/Unit	$ 0.295						$ 0.295
Stock Based Compensation Activity							$ 2,721	(1,680)	4,401
Common Stock Dividends and Unit Distributions	$ (39,887)			(39,009)		(878)
Unit Distributions							(39,887)	(39,009)	(878)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	0	36			(36)	0	36	(36)
Reallocation - Additional Paid-in Capital	0		12			(12)
Reallocation - Other Comprehensive Income	0				6	(6)
Contributions from Noncontrolling Interests	103					103	112				112
Distributions to Noncontrolling Interests							(40)				(40)
Ending Balance at Mar. 31, 2022	2,272,375	1,320	2,388,620	(182,527)	6,703	58,259
Ending Balance at Mar. 31, 2022							2,281,579	2,183,879	85,790	6,866	5,044
Beginning Balance at Dec. 31, 2021	2,248,372	1,317	2,376,026	(178,293)	(4,238)	53,560
Beginning Balance at Dec. 31, 2021							2,257,607	2,175,549	81,435	(4,331)	4,954
Increase (Decrease) in Equity / Partners' Capital [Roll Forward]
Net Income	170,799						170,799
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	1	1,270			(1,271)	0	1,271	(1,271)
Ending Balance at Jun. 30, 2022	2,371,559	1,321	2,393,462	(104,544)	12,371	68,949
Ending Balance at Jun. 30, 2022							2,380,733	2,264,149	89,066	12,665	14,853
Beginning Balance at Mar. 31, 2022	2,272,375	1,320	2,388,620	(182,527)	6,703	58,259
Beginning Balance at Mar. 31, 2022							2,281,579	2,183,879	85,790	6,866	5,044
Increase (Decrease) in Equity / Partners' Capital [Roll Forward]
Net Income	133,676			116,991		16,685	133,676	116,969	2,450		14,257
Other Comprehensive Income (Loss)	5,799				5,665	134	$ 5,799			5,799
Stock Based Compensation Activity	$ 3,893	0	1,074	0		2,819
Dividends/Distributions Per Share/Unit	$ 0.295						$ 0.295
Stock Based Compensation Activity							$ 3,893	1,074	2,819
Common Stock Dividends and Unit Distributions	$ (39,766)			(39,008)		(758)
Unit Distributions							(39,766)	(39,008)	(758)
Conversion of Limited Partner Units to Common Stock / General Partner Units	0	1	1,234			(1,235)	0	1,235	(1,235)
Reallocation - Additional Paid-in Capital	0		2,534			(2,534)
Reallocation - Other Comprehensive Income	0				3	(3)
Contributions from Noncontrolling Interests							1				1
Distributions to Noncontrolling Interests	(4,418)					(4,418)	(4,449)				(4,449)
Ending Balance at Jun. 30, 2022	$ 2,371,559	$ 1,321	$ 2,393,462	$ (104,544)	$ 12,371	$ 68,949
Ending Balance at Jun. 30, 2022							$ 2,380,733	$ 2,264,149	$ 89,066	$ 12,665	$ 14,853

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY / PARTNERS' CAPITAL (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021
Dividends/Distributions Per Share/Unit	$ 0.295	$ 0.295	$ 0.270	$ 0.270
First Industrial, L.P.
Dividends/Distributions Per Share/Unit	$ 0.295	$ 0.295	$ 0.270	$ 0.270

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 133,676	$ 170,799	$ 116,744
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation		57,454	53,073
Amortization of Debt Issuance Costs	730	1,486	1,884
Other Amortization, including Equity Based Compensation		16,567	15,914
Equity in (Income) Loss of Joint Ventures	(118,211)	(118,189)	139
Distributions from Joint Ventures		118,034	0
Gain on Sale of Real Estate	(297)	(297)	(57,499)
Straight-line Rental Income and Expense, Net		(9,353)	(9,309)
Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net		(4,600)	(2,936)
Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits		26,988	474
Net Cash Provided by Operating Activities		258,889	118,484
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of Real Estate		(183,344)	(155,807)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs		(250,150)	(124,050)
Net Proceeds from Sales of Investments in Real Estate		1,268	101,131
Contributions to and Investments in Joint Ventures		(1,640)	(1,321)
Distributions from Joint Ventures		29,356	21,407
Increase in Escrow Deposits and Other Investing Activity		(3,405)	(3,018)
Net Cash Used in Investing Activities		(407,915)	(161,658)
CASH FLOWS FROM FINANCING ACTIVITIES:
Financing and Equity Issuance Costs		(2,866)	(64)
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount		12,823	0
Tax Paid on Vested Equity Compensation		(2,942)	(5,126)
Common Stock Dividends and Unit Distributions Paid		(75,911)	(68,368)
Contributions from Noncontrolling Interests		103	0
Distributions to Noncontrolling Interests		(4,418)	0
Repayments on Mortgage Loans Payable		(69,310)	(60,312)
Proceeds from Unsecured Term Loans		165,000	0
Proceeds from Unsecured Credit Facility		425,000	80,000
Repayments on Unsecured Credit Facility		(222,000)	(20,000)
Net Cash Provided by (Used in) Financing Activities		225,479	(73,870)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash		76,453	(117,044)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year		58,780	199,658
Cash, Cash Equivalents and Restricted Cash, End of Period	135,233	135,233	82,614
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:
Interest Expense Capitalized in Connection with Development Activity and Joint Venture Investment		8,434	4,336
Cash Paid for Operating Lease Liabilities		1,706	1,546
Supplemental Schedule of Non-Cash Operating Activities:
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets		298	157
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Dividends and Distributions Payable	40,359	40,359	36,336
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
Assumption of Other Assets in Connection with the Acquisition of Real Estate		0	3,611
Assumption of Liabilities in Connection with the Acquisition of Real Estate		465	3,215
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate		119,281	47,633
Tenant Improvements Funded by Tenant		0	15,992
Write-off of Fully Depreciated Assets		(19,681)	(13,372)
Noncontrolling Interests
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	16,685
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	(1,235)	(1,271)	(22)
Common Stock
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	1	1	0
Additional Paid-in Capital
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	1,234	1,270	22
First Industrial, L.P.
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	133,676	170,799	116,744
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation		57,454	53,073
Amortization of Debt Issuance Costs	730	1,486	1,884
Other Amortization, including Equity Based Compensation		16,567	15,914
Equity in (Income) Loss of Joint Ventures	(118,211)	(118,189)	139
Distributions from Joint Ventures		118,034	0
Gain on Sale of Real Estate	(297)	(297)	(57,499)
Straight-line Rental Income and Expense, Net		(9,353)	(9,309)
Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net		(4,539)	(2,918)
Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits		26,988	474
Net Cash Provided by Operating Activities		258,950	118,502
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of Real Estate		(183,344)	(155,807)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs		(250,150)	(124,050)
Net Proceeds from Sales of Investments in Real Estate		1,268	101,131
Contributions to and Investments in Joint Ventures		(1,640)	(1,321)
Distributions from Joint Ventures		29,356	21,407
Increase in Escrow Deposits and Other Investing Activity		(3,405)	(3,018)
Net Cash Used in Investing Activities		(407,915)	(161,658)
CASH FLOWS FROM FINANCING ACTIVITIES:
Financing and Equity Issuance Costs		(2,866)	(64)
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount		12,823	0
Tax Paid on Vested Equity Compensation		(2,942)	(5,126)
Common Stock Dividends and Unit Distributions Paid		(75,911)	(68,368)
Contributions from Noncontrolling Interests		113	29
Distributions to Noncontrolling Interests		(4,489)	(47)
Repayments on Mortgage Loans Payable		(69,310)	(60,312)
Proceeds from Unsecured Term Loans		165,000	0
Proceeds from Unsecured Credit Facility		425,000	80,000
Repayments on Unsecured Credit Facility		(222,000)	(20,000)
Net Cash Provided by (Used in) Financing Activities		225,418	(73,888)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash		76,453	(117,044)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year		58,780	199,658
Cash, Cash Equivalents and Restricted Cash, End of Period	135,233	135,233	82,614
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:
Interest Expense Capitalized in Connection with Development Activity and Joint Venture Investment		8,434	4,336
Cash Paid for Operating Lease Liabilities		1,706	1,546
Supplemental Schedule of Non-Cash Operating Activities:
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets		298	157
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Dividends and Distributions Payable	40,359	40,359	36,336
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
Assumption of Other Assets in Connection with the Acquisition of Real Estate		0	3,611
Assumption of Liabilities in Connection with the Acquisition of Real Estate		465	3,215
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate		119,281	47,633
Tenant Improvements Funded by Tenant		0	15,992
Write-off of Fully Depreciated Assets		(19,681)	(13,372)
First Industrial, L.P. | Limited Partner Units
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	2,450
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	(1,235)	(1,271)	(22)
First Industrial, L.P. | General Partner Units
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	116,969
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:
Conversion of Limited Partner Units to Common Stock / General Partner Units	$ 1,235	$ 1,271	$ 22

Organization

Organization	6 Months Ended
	Jun. 30, 2022
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 97.7% ownership interest ("General Partner Units") at June 30, 2022. The Operating Partnership also conducts operations through several 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 2.3% at June 30, 2022 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 an equity interest in and provide various services to a joint venture (the "Joint Venture") through a wholly-owned TRS of the Operating Partnership. The Joint Venture is accounted for under the equity method of accounting. The operating data of the Joint Venture is not consolidated with that of the Company or the Operating Partnership as presented herein. See Note 5 for more information related to the Joint Venture. Profits, losses and distributions of the Operating Partnership, the LLCs, the Other Real Estate Partnerships, the TRSs and the Joint Venture are allocated to the general partner and the limited partners, the members or the shareholders, as applicable, of such entities in accordance with the provisions contained within their respective organizational documents. As of June 30, 2022, we owned 422 industrial properties located in 19 states, containing an aggregate of approximately 64.0 million square feet of gross leasable area ("GLA"). Of the 422 properties owned on a consolidated basis, none of them are directly owned by the Company.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
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, 2021 ("2021 Form 10-K") and should be read in conjunction with such consolidated financial statements and related notes. The 2021 year end consolidated balance sheet data included in this Form 10-Q filing was derived from the audited consolidated financial statements in our 2021 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, 2021 audited consolidated financial statements included in our 2021 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 June 30, 2022 and December 31, 2021, and the reported amounts of revenues and expenses for the three and six months ended June 30, 2022 and 2021. Actual results could differ from those estimates. In our opinion, the accompanying unaudited interim consolidated financial statements reflect all adjustments necessary for a fair statement of our financial position as of June 30, 2022 and December 31, 2021, the results of our operations and comprehensive income for each of the three and six months ended June 30, 2022 and 2021, and our cash flows for each of the six months ended June 30, 2022 and 2021. All adjustments are of a normal recurring nature. Recent Accounting Pronouncements

Investment in Real Estate

Investment in Real Estate	6 Months Ended
	Jun. 30, 2022
Real Estate [Abstract]
Investment in Real Estate	Investment in Real Estate Acquisitions During the six months ended June 30, 2022, we acquired seven industrial properties comprised of approximately 0.3 million square feet of GLA and eight 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 six months ended June 30, 2022: Land $ 153,254 Building and Improvements 26,165 In-Place Leases 5,573 Above Market Leases 23 Below Market Leases (4,172) Other Assets 1,887 Total Purchase Price $ 182,730 Real Estate Held for Sale As of June 30, 2022, we had one industrial property comprised of approximately 0.3 million square feet of GLA held for sale. Sales

Indebtedness

Indebtedness	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Indebtedness	Indebtedness The following table discloses certain information regarding our indebtedness: Outstanding Balance at Interest Effective Maturity June 30, 2022 December 31, 2021 Mortgage Loans Payable, Gross $ 10,454 $ 79,764 4.17% 4.17% 8/1/2028 Unamortized Debt Issuance Costs — (90) Mortgage Loans Payable, Net $ 10,454 $ 79,674 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 100,000 100,000 2.74% 2.74% 9/17/2030 2032 Private Placement Notes 200,000 200,000 2.84% 2.84% 9/17/2032 Subtotal $ 998,571 $ 998,571 Unamortized Debt Issuance Costs (5,134) (5,491) Unamortized Discounts (55) (59) Senior Unsecured Notes, Net $ 993,382 $ 993,021 Unsecured Term Loans, Gross 2015 Unsecured Term Loan — 260,000 N/A N/A N/A 2021 Unsecured Term Loan (A) 200,000 200,000 1.84% N/A 7/7/2026 2022 Unsecured Term Loan (A) 425,000 — 2.44% N/A 10/18/2027 Subtotal $ 625,000 $ 460,000 Unamortized Debt Issuance Costs (4,048) (1,675) Unsecured Term Loans, Net $ 620,952 $ 458,325 Unsecured Credit Facility (B) $ 282,000 $ 79,000 2.44% N/A 7/7/2025 _______________ (A) The interest rate at June 30, 2022 includes the impact of derivative instruments we entered into to effectively convert the variable rate of the debt, or a portion thereof, to a fixed rate. See Note 10. (B) Amounts exclude unamortized debt issuance costs of $3,931 and $4,577 as of June 30, 2022 and December 31, 2021, respectively, which are included in the line item Prepaid Expenses and Other Assets, Net. At our option, we may extend the maturity pursuant to two six-month extensions options, subject to certain conditions. Mortgage Loans Payable, Net During the six months ended June 30, 2022, we paid off mortgage loans in the amount of $67,973. As of June 30, 2022, mortgage loans payable are collateralized, and in some instances cross-collateralized, by industrial properties with a net carrying value of $32,198. We believe the Operating Partnership and the Company were in compliance with all covenants relating to mortgage loans as of June 30, 2022. Unsecured Term Loans On April 18, 2022, we entered into a five-year, $425,000 unsecured term loan (the "2022 Unsecured Term Loan", and together with the 2021 Unsecured Term Loan, the "Unsecured Term Loans"), which replaced our 2015 Unsecured Term Loan that was set to mature in September 2022. At June 30, 2022, the 2022 Unsecured Term Loan requires interest-only payments and bears interest at a variable rate based on the one-month secured overnight financing rate ("SOFR"), plus a 0.10% SOFR adjustment, plus 85 basis points. The 2022 Unsecured Term Loan matures in October, 2027. The interest rate is subject to adjustment based on changes to our leverage ratio and credit ratings and our achievement of a sustainability-linked pricing metric. Additionally, during the six months ended June 30, 2022 we entered into interest rate swaps with a notional value of $425,000. See Note 10 for additional information. Indebtedness The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of discounts and debt issuance costs, for the next five years as of June 30, and thereafter: Amount Remainder of 2022 $ 154 2023 321 2024 335 2025 282,349 2026 200,364 Thereafter 1,432,502 Total $ 1,916,025 Our unsecured credit facility (the "Unsecured Credit Facility"), our Unsecured Term Loans, our senior notes issued in private placements ("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 June 30, 2022; however, these financial covenants are complex and there can be no assurance that these provisions would not be interpreted by our lenders and noteholders in a manner that could impose and cause us to incur material costs. Fair Value At June 30, 2022 and December 31, 2021, the fair value of our indebtedness was as follows: June 30, 2022 December 31, 2021 Carrying Amount (A) Fair Carrying Amount (A) Fair Mortgage Loans Payable $ 10,454 $ 10,545 $ 79,764 $ 81,700 Senior Unsecured Notes, Net 998,516 934,034 998,512 1,070,067 Unsecured Term Loans 625,000 625,000 460,000 460,486 Unsecured Credit Facility 282,000 282,000 79,000 79,000 Total $ 1,915,970 $ 1,851,579 $ 1,617,276 $ 1,691,253 _______________ (A) The carrying amounts include unamortized discounts and exclude unamortized debt issuance costs.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2022
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: June 30, 2022 December 31, 2021 ASSETS Assets: Net Investment in Real Estate $ 294,734 $ 277,984 Operating Lease Right-of-Use Assets 13,044 13,087 Cash and Cash Equivalents 3,505 9,126 Deferred Rent Receivable 11,088 10,984 Prepaid Expenses and Other Assets, Net 9,944 9,480 Total Assets $ 332,315 $ 320,661 LIABILITIES AND PARTNERS' CAPITAL Liabilities: Accounts Payable, Accrued Expenses and Other Liabilities $ 20,105 $ 9,496 Operating Lease Liabilities 10,263 10,277 Rents Received in Advance and Security Deposits 6,848 7,470 Partners' Capital 295,099 293,418 Total Liabilities and Partners' Capital $ 332,315 $ 320,661 Joint Ventures Through a wholly-owned TRS of the Operating Partnership, we own a 43% interest in the Joint Venture. Since we own our interest in the Joint Venture through a partnership with a third party and we hold the power to direct the activities that most significantly impact the economic performance of the partnership, we consolidate and reflect our partner's 6% interest in the Joint Venture within the financial statements. Additionally, we owned a 49% interest in a joint venture that sold its remaining acres of land and ceased operations during the year ended December 31, 2021 (the "Former Joint Venture" together with the Joint Venture, the "Joint Ventures"). The Joint Ventures were formed for the purpose of developing, leasing, operating and selling land located in the Phoenix, Arizona metropolitan area. Under the operating agreements for the Joint Venture, we act as the managing member and are entitled to receive fees for providing management, leasing, development, construction supervision, disposition and asset management services. In addition, the Joint Venture's operating agreement provides us the ability to earn incentive fees based on the ultimate financial performance of the Joint Venture. During the six months ended June 30, 2022 and 2021, we earned fees of $145 and $276, respectively, from the Joint Ventures, related to asset management and development services, of which we deferred recognition of $71 and $47, respectively, due to our economic interest in the Joint Ventures. At June 30, 2022, we had an aggregate receivable from the Joint Venture of $107. We account for our interests in the Joint Ventures using the hypothetical liquidation at book value (“HLBV”) model. Under this method, we record our Equity in Income (Loss) of Joint Ventures based on our proportionate share of the Joint Venture's earnings based on our ownership interest, after giving effect to incentive fees in which we are entitled to receive. We classify distributions received from equity method investments using the cumulative earnings approach. In general, distributions received are considered returns on the investment and classified as cash inflows from operating activities. If, however, the investor’s cumulative distributions received, less distributions received in prior periods determined to be returns of investment, exceeds cumulative equity in earnings recognized, the excess is considered a return of investment and is classified as cash inflows from investing activities. Net income of the Joint Ventures for the six months ended June 30, 2022 and 2021 was $176,168 and $14,905, respectively. Included in net income during the six months ended June 30, 2022 is gain on sale of real estate of $176,281 related to the sale of 391 acres of land for which our economic share of the gain on sale was $86,378. Included in net income during the six months ended June 30, 2021 is gain on sale of real estate of $15,160 related to the sale of 138 net acres of land from the Former Joint Venture for which our economic share of the gain on sale was $7,142. However, since the Company was the purchaser of the 138 net acres, we netted our portion of the gain on sale against the basis of the land acquired. For the six months ended June 30, 2022, we earned incentive fees of $32,276 from the Joint Venture, which are reflected in the Equity In Income of Joint Ventures

Equity of the Company and Partn

Equity of the Company and Partners' Capital of the Operating Partnership	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Equity of the Company and Partners' Capital of the Operating Partnership	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). Generally, RLP Units entitle the holder to receive distributions from the Operating Partnership that are equivalent to the dividends and distributions that would be made with respect to the number of shares of Common Stock underlying such RLP Units, though receipt of such distributions may be delayed or made contingent on vesting. Once an RLP Unit has vested and received allocations of book income sufficient to increase the book capital account balance associated with such RLP Unit (which will initially be zero) equal to, on a per-unit basis, the book capital account balance associated with a "common" Limited Partner Unit of the Operating Partnership, it automatically becomes a common Limited Partner Unit that is convertible by the holder to one share of Common Stock or a cash equivalent, at the Company's option. Net income is allocated to the Noncontrolling Interests based on the weighted average ownership percentage during the period. Noncontrolling Interest - Joint Venture Our ownership interest in the Joint Venture 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 the partnership that invests in the Joint Venture as a Noncontrolling Interest. For the three and six months ended June 30, 2022, our partner's share of the partnership's income was $14,234 and $14,231, respectively, and was reflected in the Equity in Income of Joint Ventures and the Noncontrolling Interests line items in the Consolidated Statements of Operations. The Noncontrolling Interests line item in the Consolidated Balance Sheets includes $14,247 that is our third party partner's interest at June 30, 2022. ATM Program On February 14, 2020, we entered into three-year 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 six months ended June 30, 2022, we issued 218,230 shares of the Company's common stock under the ATM, which resulted in $12,823 of net proceeds and payment of compensation to certain sales agents of $130.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2022
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 six months ended June 30, 2022: Derivative Instruments Accumulated Other Comprehensive Gain (Loss) of the Operating Partnership Comprehensive Gain (Loss) Attributable to Noncontrolling Interest of the Company Accumulated Other Comprehensive Gain (Loss) of the Company Balance as of December 31, 2021 $ (4,331) $ (4,331) $ 93 $ (4,238) Other Comprehensive Gain Before Reclassifications 14,518 14,518 (387) 14,131 Amounts Reclassified from Accumulated Other Comprehensive Loss 2,478 2,478 — 2,478 Net Current Period Other Comprehensive Gain 16,996 16,996 (387) 16,609 Balance as of June 30, 2022 $ 12,665 $ 12,665 $ (294) $ 12,371 The following table summarizes the reclassifications out of accumulated other comprehensive income for both the Company and the Operating Partnership for the three and six months ended June 30, 2022 and 2021: Amounts Reclassified from Accumulated Details about Accumulated Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Affected Line Items in the Consolidated Statements of Operations Derivative Instruments: Amortization of Previously Settled Derivative Instruments $ 103 $ 103 $ 205 $ 205 Interest Expense Net Settlement Payments to our Counterparties 786 1,552 2,273 3,249 Interest Expense Total $ 889 $ 1,655 $ 2,478 $ 3,454

Earnings Per Share _ Unit (EPS

Earnings Per Share / Unit (EPS / EPU)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share / Unit (EPS / EPU)	Earnings Per Share and Earnings Per Unit ("EPS"/"EPU") The computation of basic and diluted EPS of the Company is presented below: Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Numerator: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities $ 116,991 $ 51,936 $ 153,249 $ 114,134 Net Income Allocable to Participating Securities (103) (61) (134) (122) Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 116,888 $ 51,875 $ 153,115 $ 114,012 Denominator (In Thousands): Weighted Average Shares - Basic 132,051 129,098 131,932 129,093 Effect of Dilutive Securities: Performance Units (See Note 9) 55 89 65 86 Weighted Average Shares - Diluted 132,106 129,187 131,997 129,179 Basic EPS: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 0.89 $ 0.40 $ 1.16 $ 0.88 Diluted EPS: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 0.88 $ 0.40 $ 1.16 $ 0.88 The computation of basic and diluted EPU of the Operating Partnership is presented below: Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Numerator: Net Income Available to Unitholders and Participating Securities $ 119,419 $ 53,140 $ 156,524 $ 116,705 Net Income Allocable to Participating Securities (269) (155) (357) (315) Net Income Available to Unitholders $ 119,150 $ 52,985 $ 156,167 $ 116,390 Denominator (In Thousands): Weighted Average Units - Basic 134,278 131,188 134,176 131,180 Effect of Dilutive Securities: Performance Units and certain Performance RLP Units (See Note 9) 312 516 367 489 Weighted Average Units - Diluted 134,590 131,704 134,543 131,669 Basic EPU: Net Income Available to Unitholders $ 0.89 $ 0.40 $ 1.16 $ 0.89 Diluted EPU: Net Income Available to Unitholders $ 0.89 $ 0.40 $ 1.16 $ 0.88 At June 30, 2022 and 2021, participating securities for the Company included 125,920 and 147,937, respectively, Service Awards (see Note 9), which participate in non-forfeitable distributions. At June 30, 2022 and 2021, participating securities for the Operating Partnership included 318,870 and 378,548, respectively, 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	6 Months Ended
	Jun. 30, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract]
Long-Term Compensation	Long-Term Compensation Awards with Performance Measures During the six months ended June 30, 2022, 35,867 performance units ("Performance Units") and 208,454 RLP Units ("Performance RLP Units" and, together with the Performance Units, collectively the "Performance Awards") were granted to certain employees based on performance-based criteria, which had a fair value of approximately $7,266 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 TSR of the FTSE Nareit All Equity Index and the remainder vests based upon the TSR of the Company’s common stock compared to a specified group of peer industrial real estate companies. The performance period for these Performance Awards is 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 six months ended June 30, 2022, 60,281 shares of restricted stock units ("Service Units") and 57,907 RLP Units ("Service RLP Units" and together with the Service Units, collectively the "Service Awards") were granted to certain employees and outside directors based on service-based criteria, which had an aggregate fair value of approximately $7,087 on the grant date. 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 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 -forfeitab le. As such, during the six months ended June 30, 2022, 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 $3,893 and $3,451 for the three months ended June 30, 2022 and 2021, respectively, and $8,994 and $7,064 for the six months ended June 30, 2022 and 2021, 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 $1,154 and $507 for the three months ended June 30, 2022 and 2021, respectively, and $2,327 and $1,210 for the six months ended June 30, 2022 and 2021, respectively. At June 30, 2022, we had $16,404 in unrecognized compensation related to unvested Service Awards and Performance Awards. The weighted average period over which the unrecognized compensation is expected to be recognized is 0.97 years.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivative Instruments 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. We have interest rate swaps to manage our exposure to changes in the one-month LIBOR rate related to our Unsecured Term Loans. We have 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% and mature on February 2, 2026 (the "2021 Swaps"). During the three months ended June 30, 2022, we entered into eight interest rate swaps (the "2022 Swaps") with an aggregate notional value of $425,000 to manage our exposure to changes in the one-month SOFR rate related to our 2022 Unsecured Term Loan. The 2022 Swaps, which are effective commencing October 3, 2022, fix the one-month daily SOFR rate at 2.69% and mature on September 30, 2027. We have designated the 2022 Swaps as cash flow hedges. 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 June 30, 2022, we had not posted any collateral related to these agreements and were not in breach of any of the provisions of these agreements. If we had breached these agreements, we could have been required to settle our obligations under the agreements at their termination value. The following table sets forth our financial assets related to the 2015 Swaps, the 2021 Swaps and the 2022 Swaps, which are included in the line items Prepaid Expenses and Other Assets, Net or Accounts Payable, Accrued Expenses and Other Liabilities and are accounted for at fair value on a recurring basis as of June 30, 2022 and December 31, 2021: Fair Value Measurements: Description Fair Value at Quoted Prices in Significant Other Unobservable Derivatives designated as a hedging instrument: Assets: 2015 Swaps $ 139 — $ 139 — 2021 Swaps $ 13,141 — $ 13,141 — 2022 Swaps $ 2,184 — $ 2,184 — Fair Value at December 31, 2021 Derivatives designated as a hedging instrument: Assets: 2021 Swaps $ 1,341 — $ 1,341 — Liabilities: 2015 Swaps $ (2,668) — $ (2,668) — There was no ineffectiveness recorded on the 2015 Swaps, the 2021 Swaps or the 2022 Swaps during the six months ended June 30, 2022. See Note 7 for more information regarding our derivatives. The estimated fair value of the 2015 Swaps, the 2021 Swaps and the 2022 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 2015 Swaps, the 2021 Swaps and the 2022 Swaps fell within Level 2 of the fair value hierarchy.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Related Party TransactionsAt June 30, 2022 and December 31, 2021, the Operating Partnership had receivable balances of $9,176 and $9,239, respectively, from a direct wholly-owned subsidiary of the Company. Additionally, see Note 5 for transactions with our joint ventures.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the normal course of business, we are involved in legal actions arising from the ownership of our industrial properties. In our opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a materially adverse effect on our consolidated financial position, operations or liquidity. In conjunction with the development of industrial properties, we have entered into agreements with general contractors for the construction of industrial properties. At June 30, 2022, we had 21 development projects totaling approximately 5.8 million square feet of GLA under construction. The estimated total investment as of June 30, 2022 is approximately $776,200. Of this amount, approximately $355,700 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	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsSubsequent to June 30, 2022, we acquired two industrial properties and one land parcel for an aggregate purchase price of $35,022, excluding transaction costs.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
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, 2021 ("2021 Form 10-K") and should be read in conjunction with such consolidated financial statements and related notes. The 2021 year end consolidated balance sheet data included in this Form 10-Q filing was derived from the audited consolidated financial statements in our 2021 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, 2021 audited consolidated financial statements included in our 2021 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 June 30, 2022 and December 31, 2021, and the reported amounts of revenues and expenses for the three and six months ended June 30, 2022 and 2021. Actual results could differ from those estimates. In our opinion, the accompanying unaudited interim consolidated financial statements reflect all adjustments necessary for a fair statement of our financial position as of June 30, 2022 and December 31, 2021, the results of our operations and comprehensive income for each of the three and six months ended June 30, 2022 and 2021, and our cash flows for each of the six months ended June 30, 2022 and 2021. All adjustments are of a normal recurring nature.
Recent Accounting Pronouncements	Recent Accounting PronouncementsIn 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. 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.

Investment in Real Estate Inves

Investment in Real Estate Investment in Real Estate (Tables)	6 Months Ended
	Jun. 30, 2022
Real Estate [Abstract]
Summary of Acquisition Purchase Price Allocation	Land $ 153,254 Building and Improvements 26,165 In-Place Leases 5,573 Above Market Leases 23 Below Market Leases (4,172) Other Assets 1,887 Total Purchase Price $ 182,730

Indebtedness (Tables)

Indebtedness (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Summary of Indebtedness	The following table discloses certain information regarding our indebtedness: Outstanding Balance at Interest Effective Maturity June 30, 2022 December 31, 2021 Mortgage Loans Payable, Gross $ 10,454 $ 79,764 4.17% 4.17% 8/1/2028 Unamortized Debt Issuance Costs — (90) Mortgage Loans Payable, Net $ 10,454 $ 79,674 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 100,000 100,000 2.74% 2.74% 9/17/2030 2032 Private Placement Notes 200,000 200,000 2.84% 2.84% 9/17/2032 Subtotal $ 998,571 $ 998,571 Unamortized Debt Issuance Costs (5,134) (5,491) Unamortized Discounts (55) (59) Senior Unsecured Notes, Net $ 993,382 $ 993,021 Unsecured Term Loans, Gross 2015 Unsecured Term Loan — 260,000 N/A N/A N/A 2021 Unsecured Term Loan (A) 200,000 200,000 1.84% N/A 7/7/2026 2022 Unsecured Term Loan (A) 425,000 — 2.44% N/A 10/18/2027 Subtotal $ 625,000 $ 460,000 Unamortized Debt Issuance Costs (4,048) (1,675) Unsecured Term Loans, Net $ 620,952 $ 458,325 Unsecured Credit Facility (B) $ 282,000 $ 79,000 2.44% N/A 7/7/2025 _______________ (A) The interest rate at June 30, 2022 includes the impact of derivative instruments we entered into to effectively convert the variable rate of the debt, or a portion thereof, to a fixed rate. See Note 10. (B) Amounts exclude unamortized debt issuance costs of $3,931 and $4,577 as of June 30, 2022 and December 31, 2021, respectively, which are included in the line item Prepaid Expenses and Other Assets, Net.
Schedule of Maturities	The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of discounts and debt issuance costs, for the next five years as of June 30, and thereafter: Amount Remainder of 2022 $ 154 2023 321 2024 335 2025 282,349 2026 200,364 Thereafter 1,432,502 Total $ 1,916,025
Summary of Indebtedness at Estimated Fair Value	At June 30, 2022 and December 31, 2021, the fair value of our indebtedness was as follows: June 30, 2022 December 31, 2021 Carrying Amount (A) Fair Carrying Amount (A) Fair Mortgage Loans Payable $ 10,454 $ 10,545 $ 79,764 $ 81,700 Senior Unsecured Notes, Net 998,516 934,034 998,512 1,070,067 Unsecured Term Loans 625,000 625,000 460,000 460,486 Unsecured Credit Facility 282,000 282,000 79,000 79,000 Total $ 1,915,970 $ 1,851,579 $ 1,617,276 $ 1,691,253 _______________ (A) The carrying amounts include unamortized discounts and exclude unamortized debt issuance costs.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2022
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: June 30, 2022 December 31, 2021 ASSETS Assets: Net Investment in Real Estate $ 294,734 $ 277,984 Operating Lease Right-of-Use Assets 13,044 13,087 Cash and Cash Equivalents 3,505 9,126 Deferred Rent Receivable 11,088 10,984 Prepaid Expenses and Other Assets, Net 9,944 9,480 Total Assets $ 332,315 $ 320,661 LIABILITIES AND PARTNERS' CAPITAL Liabilities: Accounts Payable, Accrued Expenses and Other Liabilities $ 20,105 $ 9,496 Operating Lease Liabilities 10,263 10,277 Rents Received in Advance and Security Deposits 6,848 7,470 Partners' Capital 295,099 293,418 Total Liabilities and Partners' Capital $ 332,315 $ 320,661

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2022
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 six months ended June 30, 2022: Derivative Instruments Accumulated Other Comprehensive Gain (Loss) of the Operating Partnership Comprehensive Gain (Loss) Attributable to Noncontrolling Interest of the Company Accumulated Other Comprehensive Gain (Loss) of the Company Balance as of December 31, 2021 $ (4,331) $ (4,331) $ 93 $ (4,238) Other Comprehensive Gain Before Reclassifications 14,518 14,518 (387) 14,131 Amounts Reclassified from Accumulated Other Comprehensive Loss 2,478 2,478 — 2,478 Net Current Period Other Comprehensive Gain 16,996 16,996 (387) 16,609 Balance as of June 30, 2022 $ 12,665 $ 12,665 $ (294) $ 12,371
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 six months ended June 30, 2022 and 2021: Amounts Reclassified from Accumulated Details about Accumulated Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Affected Line Items in the Consolidated Statements of Operations Derivative Instruments: Amortization of Previously Settled Derivative Instruments $ 103 $ 103 $ 205 $ 205 Interest Expense Net Settlement Payments to our Counterparties 786 1,552 2,273 3,249 Interest Expense Total $ 889 $ 1,655 $ 2,478 $ 3,454

Earnings Per Share _ Unit (EP_2

Earnings Per Share / Unit (EPS / EPU) (Tables)	6 Months Ended
	Jun. 30, 2022
Computation of Basic and Diluted Earnings Per Share / Unit	The computation of basic and diluted EPS of the Company is presented below: Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Numerator: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities $ 116,991 $ 51,936 $ 153,249 $ 114,134 Net Income Allocable to Participating Securities (103) (61) (134) (122) Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 116,888 $ 51,875 $ 153,115 $ 114,012 Denominator (In Thousands): Weighted Average Shares - Basic 132,051 129,098 131,932 129,093 Effect of Dilutive Securities: Performance Units (See Note 9) 55 89 65 86 Weighted Average Shares - Diluted 132,106 129,187 131,997 129,179 Basic EPS: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 0.89 $ 0.40 $ 1.16 $ 0.88 Diluted EPS: Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders $ 0.88 $ 0.40 $ 1.16 $ 0.88
First Industrial, L.P.
Computation of Basic and Diluted Earnings Per Share / Unit	The computation of basic and diluted EPU of the Operating Partnership is presented below: Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Numerator: Net Income Available to Unitholders and Participating Securities $ 119,419 $ 53,140 $ 156,524 $ 116,705 Net Income Allocable to Participating Securities (269) (155) (357) (315) Net Income Available to Unitholders $ 119,150 $ 52,985 $ 156,167 $ 116,390 Denominator (In Thousands): Weighted Average Units - Basic 134,278 131,188 134,176 131,180 Effect of Dilutive Securities: Performance Units and certain Performance RLP Units (See Note 9) 312 516 367 489 Weighted Average Units - Diluted 134,590 131,704 134,543 131,669 Basic EPU: Net Income Available to Unitholders $ 0.89 $ 0.40 $ 1.16 $ 0.89 Diluted EPU: Net Income Available to Unitholders $ 0.89 $ 0.40 $ 1.16 $ 0.88

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value Measurements on Recurring Basis	The following table sets forth our financial assets related to the 2015 Swaps, the 2021 Swaps and the 2022 Swaps, which are included in the line items Prepaid Expenses and Other Assets, Net or Accounts Payable, Accrued Expenses and Other Liabilities and are accounted for at fair value on a recurring basis as of June 30, 2022 and December 31, 2021: Fair Value Measurements: Description Fair Value at Quoted Prices in Significant Other Unobservable Derivatives designated as a hedging instrument: Assets: 2015 Swaps $ 139 — $ 139 — 2021 Swaps $ 13,141 — $ 13,141 — 2022 Swaps $ 2,184 — $ 2,184 — Fair Value at December 31, 2021 Derivatives designated as a hedging instrument: Assets: 2021 Swaps $ 1,341 — $ 1,341 — Liabilities: 2015 Swaps $ (2,668) — $ (2,668) —

Organization - Additional Infor

Organization - Additional Information (Details) ft² in Millions	6 Months Ended
	Jun. 30, 2022 ft² State Property
Organization [Line Items]
Number of industrial properties | Property	422
Number of states in which industrial properties are located | State	19
Gross leasable area (GLA) of industrial properties owned | ft²	64
Ownership
Organization [Line Items]
Company's ownership interest	97.70%
Limited partners' ownership interest in the Operating Partnership	2.30%
Other Real Estate Partnerships
Organization [Line Items]
Company's ownership interest	100%
Operating Partnership's minimum ownership interest in the Other Real Estate Partnerships	99%
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	6 Months Ended
	Jun. 30, 2022 USD ($) ft² Property
Real Estate Properties [Line Items]
Number of industrial properties	422
Gross leasable area (GLA) of industrial properties | ft²	64
Acquisition Activity
Real Estate Properties [Line Items]
Number of industrial properties	7
Gross leasable area (GLA) of industrial properties | ft²	0.3
Number of Land Parcels	8
Held for Sale Activity
Real Estate Properties [Line Items]
Number of industrial properties	1
Gross leasable area (GLA) of industrial properties | ft²	0.3
Disposition Activity
Real Estate Properties [Line Items]
Number of Land Parcels	1
Gain on sale of real estate | $	$ 297
Proceeds from Sale of Real Estate | $	$ 1,390

Investment in Real Estate Inv_2

Investment in Real Estate Investment in Real Estate - Summary of Purchase Price Allocation (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Real Estate [Line Items]
Land	$ 1,542,565	$ 1,387,198
Buildings and Improvements	3,221,939	$ 3,020,221
Acquisition Activity
Real Estate [Line Items]
Land	153,254
Buildings and Improvements	26,165
Other Assets	1,887
Purchase price of industrial properties acquired	182,730
Acquisition Activity | In-Place Leases
Real Estate [Line Items]
Acquired finite lived intangible assets, fair value	5,573
Acquisition Activity | Above Market Leases [Member]
Real Estate [Line Items]
Acquired finite lived intangible assets, fair value	23
Acquisition Activity | Below Market Leases
Real Estate [Line Items]
Acquired finite lived intangible liabilities, fair value	$ (4,172)

Indebtedness - Summary of Indeb

Indebtedness - Summary of Indebtedness (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2022	Apr. 18, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,916,025
Unsecured Credit Facility		282,000		$ 79,000
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		100,000
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		200,000
Interest Rate		2.84%
Effective Interest Rate		2.84%
Maturity Date		Sep. 17, 2032
2015 Unsecured Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 0		260,000
2021 Unsecured Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 200,000		200,000
Interest Rate		1.84%
Maturity Date		Jul. 07, 2026
2022 Unsecured Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 425,000	$ 425,000	0
Interest Rate		2.44%
Maturity Date		Oct. 18, 2027
Mortgage Loans Payable
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 10,454		79,764
Unamortized Debt Issuance Costs		0		(90)
Long-term Debt		$ 10,454		79,674
Interest Rate		4.17%
Effective Interest Rate		4.17%
Maturity Date		Aug. 01, 2028
Senior Unsecured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 998,571		998,571
Unamortized Debt Issuance Costs		(5,134)		(5,491)
Unamortized Discounts		(55)		(59)
Long-term Debt		993,382		993,021
Unsecured Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross		625,000		460,000
Unamortized Debt Issuance Costs		(4,048)		(1,675)
Long-term Debt		620,952		458,325
Unsecured Credit Facility
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs		(3,931)		(4,577)
Unsecured Credit Facility	[1]	$ 282,000		$ 79,000
Interest Rate		2.44%
Maturity Date	[1]	Jul. 07, 2025
[1]Amounts exclude unamortized debt issuance costs of $3,931 and $4,577 as of June 30, 2022 and December 31, 2021, respectively, which are included in the line item Prepaid Expenses and Other Assets, Net. At our option, we may extend the maturity pursuant to two six-month extensions options, subject to certain conditions.

Indebtedness - Additional Infor

Indebtedness - Additional Information (Details) - USD ($) $ in Thousands		6 Months Ended
	Apr. 18, 2022	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,916,025
2022 Unsecured Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 425,000	425,000	$ 0
Term SOFR Adjustment	0.10%
Debt Instrument, Interest Rate Terms	85
2022 Swaps
Debt Instrument [Line Items]
Derivative, Notional Amount		425,000
Unsecured Credit Facility
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs		3,931	4,577
Mortgage Loans Payable
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs		0	90
Extinguishment of Debt, Amount		67,973
Net carrying value of industrial properties collateralized by mortgage loans		32,198
Long-term Debt, Gross		$ 10,454	$ 79,764

Indebtedness - Schedule of Matu

Indebtedness - Schedule of Maturities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Debt Disclosure [Abstract]
Remainder of 2022	$ 154
2023	321
2024	335
2025	282,349
2026	200,364
Thereafter	1,432,502
Total	$ 1,916,025

Indebtedness - Summary of Ind_2

Indebtedness - Summary of Indebtedness at Estimated Fair Value (Details) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Mortgage Loans Payable		$ 10,545	$ 81,700
Senior Unsecured Notes, Net		934,034	1,070,067
Unsecured Term Loans		625,000	460,486
Unsecured Credit Facility		282,000	79,000
Total		1,851,579	1,691,253
Carrying Amount (A)
Debt Instrument [Line Items]
Mortgage Loans Payable	[1]	10,454	79,764
Senior Unsecured Notes, Net	[1]	998,516	998,512
Unsecured Term Loans	[1]	625,000	460,000
Unsecured Credit Facility	[1]	282,000	79,000
Total	[1]	$ 1,915,970	$ 1,617,276
[1]The carrying amounts include unamortized discounts and exclude unamortized debt issuance costs.

Variable Interest Entities - Su

Variable Interest Entities - Summarized Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets:
Net Investment in Real Estate	$ 4,172,935	$ 3,778,148
Operating Lease Right-of-Use Assets	24,594	24,927
Cash and Cash Equivalents	135,233	58,591
Deferred Rent Receivable	108,096	98,727
Prepaid Expenses and Other Assets, Net	184,201	156,047
Total Assets	4,663,118	4,179,098
Liabilities and Partners' Capital:
Accounts Payable, Accrued Expenses and Other Liabilities	210,007	153,096
Operating Lease Liabilities	22,275	22,592
Rents Received in Advance and Security Deposits	99,694	98,588
Total Liabilities and Equity/Partners' Capital	4,663,118	4,179,098
Other Real Estate Partnerships
Assets:
Net Investment in Real Estate	294,734	277,984
Operating Lease Right-of-Use Assets	13,044	13,087
Cash and Cash Equivalents	3,505	9,126
Deferred Rent Receivable	11,088	10,984
Prepaid Expenses and Other Assets, Net	9,944	9,480
Total Assets	332,315	320,661
Liabilities and Partners' Capital:
Accounts Payable, Accrued Expenses and Other Liabilities	20,105	9,496
Operating Lease Liabilities	10,263	10,277
Rents Received in Advance and Security Deposits	6,848	7,470
Partners' Capital	295,099	293,418
Total Liabilities and Equity/Partners' Capital	$ 332,315	$ 320,661

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022 USD ($) Property	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($) Property	Mar. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) Property	Jun. 30, 2021 USD ($) Property
Variable Interest Entity [Line Items]
Net Income	$ 133,676	$ 37,123	$ 53,161	$ 63,583	$ 170,799	$ 116,744
Joint Venture II
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	43%				43%
Former Joint Venture
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	49%				49%
Joint Ventures
Variable Interest Entity [Line Items]
Asset Management Fees					$ 145	276
Asset Management Fees Deferred					71	47
Receivable balance due from joint venture	$ 107				107
Net Income					176,168	14,905
Equity Method Investment, Realized Gain (Loss) on Disposal					176,281	15,160
Economic Share of Gain (Loss) on Joint Venture Sale					$ 86,378	$ 7,142
Number of Acres | Property	391		138		391	138
Incentive Fees					$ 32,276	$ 3,024

Stockholders_ Equity of the Com

Stockholders’ Equity of the Company and Partners' Capital of the Operating Partnership - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Feb. 14, 2020
Class of Stock [Line Items]
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount			$ 12,823	$ 0
Equity in Income (Loss) of Joint Ventures	$ 118,211	$ (66)	118,189	$ (139)
Stockholders' Equity Attributable to Noncontrolling Interest	68,949		68,949		$ 53,560
Joint Ventures
Class of Stock [Line Items]
Equity in Income (Loss) of Joint Ventures	14,234		14,231
Stockholders' Equity Attributable to Noncontrolling Interest	$ 14,247		$ 14,247
ATM [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues			218,230
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount			$ 12,823
Commission To Sales Agent			$ 130
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	6 Months Ended
	Jun. 30, 2022 USD ($)
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	$ 2,248,372
Ending Balance	2,371,559
Derivative Instruments
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(4,331)
Other Comprehensive Gain Before Reclassifications	14,518
Amounts Reclassified from Accumulated Other Comprehensive Loss	2,478
Net Current Period Other Comprehensive Gain	16,996
Ending Balance	12,665
Comprehensive Gain (Loss) Attributable to Noncontrolling Interest of the Company
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	93
Other Comprehensive Gain Before Reclassifications	(387)
Amounts Reclassified from Accumulated Other Comprehensive Loss	0
Net Current Period Other Comprehensive Gain	(387)
Ending Balance	(294)
Accumulated Other Comprehensive Gain (Loss) of the Company
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(4,238)
Other Comprehensive Gain Before Reclassifications	14,131
Amounts Reclassified from Accumulated Other Comprehensive Loss	2,478
Net Current Period Other Comprehensive Gain	16,609
Ending Balance	12,371
First Industrial, L.P. | Accumulated Other Comprehensive Gain (Loss) of the Operating Partnership
Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(4,331)
Other Comprehensive Gain Before Reclassifications	14,518
Amounts Reclassified from Accumulated Other Comprehensive Loss	2,478
Net Current Period Other Comprehensive Gain	16,996
Ending Balance	$ 12,665

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Amounts Reclassified from AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income [Line Items]
Total	$ (10,807)	$ 10,067	$ (21,199)	$ 31,090
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	103	205	205
Interest Expense - Settlement Payments	786	1,552	2,273	3,249
Total	$ 889	$ 1,655	$ 2,478	$ 3,454

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 116,991	$ 51,936	$ 153,249	$ 114,134
Net Income Allocable to Participating Securities	(103)	(61)	(134)	(122)
Net Income Available to Common Stockholders / Unitholders	$ 116,888	$ 51,875	$ 153,115	$ 114,012
Denominator:
Weighted Average Shares / Units - Basic	132,051	129,098	131,932	129,093
Performance Units (See Note 9) / Performance Units and certain Performance RLP Units (See Note 6)	55	89	65	86
Weighted Average Shares / Units - Diluted	132,106	129,187	131,997	129,179
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders - Basic	$ 0.89	$ 0.40	$ 1.16	$ 0.88
Net Income Available to Common Stockholders / Unitholders - Diluted	$ 0.88	$ 0.40	$ 1.16	$ 0.88
First Industrial, L.P.
Numerator:
Net Income Available to Common Stockholders / Unitholders and Participating Securities	$ 119,419	$ 53,140	$ 156,524	$ 116,705
Net Income Allocable to Participating Securities	(269)	(155)	(357)	(315)
Net Income Available to Common Stockholders / Unitholders	$ 119,150	$ 52,985	$ 156,167	$ 116,390
Denominator:
Weighted Average Shares / Units - Basic	134,278	131,188	134,176	131,180
Performance Units (See Note 9) / Performance Units and certain Performance RLP Units (See Note 6)	312	516	367	489
Weighted Average Shares / Units - Diluted	134,590	131,704	134,543	131,669
Basic and Diluted Earnings Per Share / Unit:
Net Income Available to Common Stockholders / Unitholders - Basic	$ 0.89	$ 0.40	$ 1.16	$ 0.89
Net Income Available to Common Stockholders / Unitholders - Diluted	$ 0.89	$ 0.40	$ 1.16	$ 0.88

Earnings Per Share _ Unit (EP_4

Earnings Per Share / Unit (EPS / EPU) - Additional Information (Details) - shares	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Unvested Restricted Stock / Unit Awards	125,920	147,937
First Industrial, L.P.
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Unvested Restricted Stock / Unit Awards	318,870	378,548

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amortization related to Service Awards and Performance Awards	$ 3,893	$ 3,451	$ 8,994	$ 7,064
Share-based Payment Arrangement, Amount Capitalized	1,154	$ 507	2,327	$ 1,210
Unrecognized compensation related to unvested Service Awards and Performance Awards	16,404		$ 16,404
Weighted average period of unrecognized compensation expected to be recognized			11 months 19 days
Management | Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Awards and Service Awards Issued			35,867
Fair Value of Performance Awards and Service Awards Issued	7,266		$ 7,266
Vesting period of Performance Awards and Service Awards issued			3 years
Management | Performance RLP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Awards and Service Awards Issued			208,454
Management | Service Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Awards and Service Awards Issued			60,281
Fair Value of Performance Awards and Service Awards Issued	$ 7,087		$ 7,087
Vesting period of Performance Awards and Service Awards issued			3 years
Management | Service RLP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Awards and Service Awards Issued			57,907

Derivatives - Additional Inform

Derivatives - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
2015 Swaps
Derivative [Line Items]
Swaps, Number of Instruments Held	6
Derivative, Notional Amount	$ 260,000
Debt instrument, LIBOR or SOFR 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 or SOFR Rate	one-month LIBOR
Swaps, Average Fixed Interest Rate	0.99%
2022 Swaps
Derivative [Line Items]
Swaps, Number of Instruments Held	8
Derivative, Notional Amount	$ 425,000
Debt instrument, LIBOR or SOFR Rate	one-month SOFR
Swaps, Average Fixed Interest Rate	2.69%

Derivatives - Fair Value Measur

Derivatives - Fair Value Measurements on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
2015 Swaps
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	$ 139
Hedging Instrument, Liability, Fair Value		$ (2,668)
2015 Swaps | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	0
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, Asset, Fair Value	139
Hedging Instrument, Liability, Fair Value		(2,668)
2015 Swaps | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	0
Hedging Instrument, Liability, Fair Value		0
2021 Swaps
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	13,141	1,341
2021 Swaps | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	0	0
2021 Swaps | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	13,141	1,341
2021 Swaps | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	0	$ 0
2022 Swaps
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	2,184
2022 Swaps | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	0
2022 Swaps | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	2,184
2022 Swaps | Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Hedging Instrument, Asset, Fair Value	$ 0

Related Party Transactions Rela

Related Party Transactions Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Related Party Transactions [Abstract]
Receivable balance due from a direct wholly-owned subsidiary	$ 9,176	$ 9,239

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands, ft² in Millions	Jun. 30, 2022 USD ($) ft² Property
Other Commitments [Line Items]
Number of industrial properties | Property	422
Gross leasable area (GLA) of industrial properties | ft²	64
Development Activity
Other Commitments [Line Items]
Number of industrial properties | Property	21
Gross leasable area (GLA) of industrial properties | ft²	5.8
Estimated total investment | $	$ 776,200
Estimated total investment remaining to be funded | $	$ 355,700

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Thousands	1 Months Ended
	Jul. 22, 2022 USD ($) Property	Jun. 30, 2022 Property
Subsequent Event [Line Items]
Number of Real Estate Properties		422
Subsequent Event
Subsequent Event [Line Items]
Number of Real Estate Properties	2
Number of Land Parcels	1
Purchase price of industrial properties acquired | $	$ 35,022