First Industrial Realty Trust Inc

Latest Results (17.11.2025):

First Industrial Realty Trust Inc’s third quarter 2025 report highlights a strong performance in its industrial leasing activities with robust new lease signings, significant rental rate increases, and steady same store net operating income growth, reflecting a resilient property portfolio amid a competitive industrial market.

Leasing Achievements

In Q3 2025, First Industrial Realty Trust Inc signed a total of 772,000 square feet of new leases for development projects. Key deals include leasing the remaining 501,000 square feet of Building C in its Camelback 303 joint venture in Phoenix and 56,000 square feet at First Park Miami Building 3 in South Florida. Additionally, developments slated for the fourth quarter further solidify its leasing momentum.

Rental Rate & Income Growth

The report emphasizes strong rental rate performance with cash rental rates on rapid increases – evidencing a 26.5% jump for new and renewal leases in Q3 on a current basis, and achieving approximately 32% and 31% increases on leases commencing in 2025 and 2026, respectively. This robust rental rate environment helped drive a 6.1% rise in cash basis same store NOI before termination fees, despite minor occupancy dips.

Investment and Capital Strategy

First Industrial Realty Trust Inc also showcased strategic capital moves in Q3 2025, including the acquisition of an income-producing land site in Northern California for $11 million and the sale of assets in Denver and Houston for a combined $13 million. Additionally, the company secured more favorable financing terms through forward-starting interest rate swaps, effectively fixing significant portions of its unsecured term loans.