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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Lease Revenue $ 660,967 $ 602,294 $ 532,237
Joint Venture Fees 2,545 5,159 1,322
Other Revenue 6,129 6,574 6,370
Total Revenues 669,641 614,027 539,929
Expenses:      
Property Expenses 182,821 165,655 143,663
General and Administrative 40,935 37,121 33,972
Joint Venture Development Services Expense 1,529 3,667 909
Depreciation and Other Amortization 171,939 162,951 147,420
Total Expenses 397,224 369,394 325,964
Other Income (Expense):      
Gain on Sale of Real Estate 111,970 95,650 128,268
Interest Expense (82,973) (74,335) (49,013)
Amortization of Debt Issuance Costs (3,646) (3,626) (3,187)
Total Other Income (Expense) 25,351 17,689 76,068
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 297,768 262,322 290,033
Equity in Income of Joint Venture 4,295 32,207 114,942
Income Tax Provision (6,075) (8,692) (23,363)
Net Income 295,988 285,837 381,612
Less: Net Income Attributable to the Noncontrolling Interests (8,434) (11,021) (22,478)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 287,554 274,816 359,134
Net Income Allocable to Participating Securities (211) (232) (348)
Net Income Available to Common Stockholders / Unitholders $ 287,343 $ 274,584 $ 358,786
Basic Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.17 $ 2.08 $ 2.72
Diluted Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.17 $ 2.07 $ 2.72
Weighted Average Shares/Units Outstanding - Basic 132,369 132,264 132,024
Weighted Average Shares / Units Outstanding - Diluted 132,416 132,341 132,103
First Industrial, L.P.      
Revenues      
Lease Revenue $ 660,967 $ 602,294 $ 532,237
Joint Venture Fees 2,545 5,159 1,322
Other Revenue 6,129 6,574 6,370
Total Revenues 669,641 614,027 539,929
Expenses:      
Property Expenses 182,821 165,655 143,663
General and Administrative 40,935 37,121 33,972
Joint Venture Development Services Expense 1,529 3,667 909
Depreciation and Other Amortization 171,939 162,951 147,420
Total Expenses 397,224 369,394 325,964
Other Income (Expense):      
Gain on Sale of Real Estate 111,970 95,650 128,268
Interest Expense (82,973) (74,335) (49,013)
Amortization of Debt Issuance Costs (3,646) (3,626) (3,187)
Total Other Income (Expense) 25,351 17,689 76,068
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 297,768 262,322 290,033
Equity in Income of Joint Venture 4,295 32,207 114,942
Income Tax Provision (6,075) (8,692) (23,363)
Net Income 295,988 285,837 381,612
Less: Net Income Attributable to the Noncontrolling Interests (744) (4,136) (14,093)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 295,244 281,701 367,519
Net Income Allocable to Participating Securities (574) (551) (877)
Net Income Available to Common Stockholders / Unitholders $ 294,670 $ 281,150 $ 366,642
Basic Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.18 $ 2.09 $ 2.73
Diluted Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.18 $ 2.08 $ 2.72
Weighted Average Shares/Units Outstanding - Basic 135,092 134,777 134,229
Weighted Average Shares / Units Outstanding - Diluted 135,426 135,249 134,681