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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Lease Revenue $ 179,424 $ 165,909 $ 532,268 $ 487,719
Joint Venture Fees 388 413 1,120 1,686
Other Revenue 1,618 1,323 5,279 4,648
Total Revenues 181,430 167,645 538,667 494,053
Expenses:        
Property Expenses 46,185 44,884 139,950 134,949
General and Administrative 8,552 9,230 32,883 30,632
Joint Venture Development Services Expense 190 208 524 1,005
Depreciation and Other Amortization 45,748 43,515 136,709 128,382
Total Expenses 100,675 97,837 310,066 294,968
Other Income (Expense):        
Gain on Sale of Real Estate 9,538 56,814 17,503 93,801
Interest Expense (21,731) (20,836) (62,922) (62,859)
Amortization of Debt Issuance Costs (1,393) (911) (3,684) (2,735)
Total Other Income (Expense) (13,586) 35,067 (49,103) 28,207
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 67,169 104,875 179,498 227,292
Equity in Income of Joint Venture 387 599 3,800 3,161
Income Tax Provision (192) (3,301) (6,171) (4,906)
Net Income 67,364 102,173 177,127 225,547
Less: Net Income Attributable to the Noncontrolling Interests (2,058) (2,810) (8,533) (6,414)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 65,306 99,363 168,594 219,133
Net Income Allocable to Participating Securities (37) (76) (108) (162)
Net Income Available to Common Stockholders / Unitholders $ 65,269 $ 99,287 $ 168,486 $ 218,971
Basic and Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.49 $ 0.75 $ 1.27 $ 1.65
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.49 $ 0.75 $ 1.27 $ 1.65
Weighted Average Shares/Units Outstanding - Basic 132,450 132,370 132,432 132,366
Weighted Average Shares/Units Outstanding - Diluted 132,504 132,421 132,492 132,409
First Industrial, L.P.        
Revenues:        
Lease Revenue $ 179,424 $ 165,909 $ 532,268 $ 487,719
Joint Venture Fees 388 413 1,120 1,686
Other Revenue 1,618 1,323 5,279 4,648
Total Revenues 181,430 167,645 538,667 494,053
Expenses:        
Property Expenses 46,185 44,884 139,950 134,949
General and Administrative 8,552 9,230 32,883 30,632
Joint Venture Development Services Expense 190 208 524 1,005
Depreciation and Other Amortization 45,748 43,515 136,709 128,382
Total Expenses 100,675 97,837 310,066 294,968
Other Income (Expense):        
Gain on Sale of Real Estate 9,538 56,814 17,503 93,801
Interest Expense (21,731) (20,836) (62,922) (62,859)
Amortization of Debt Issuance Costs (1,393) (911) (3,684) (2,735)
Total Other Income (Expense) (13,586) 35,067 (49,103) 28,207
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 67,169 104,875 179,498 227,292
Equity in Income of Joint Venture 387 599 3,800 3,161
Income Tax Provision (192) (3,301) (6,171) (4,906)
Net Income 67,364 102,173 177,127 225,547
Less: Net Income Attributable to the Noncontrolling Interests (79) (108) (3,441) (502)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 67,285 102,065 173,686 225,045
Net Income Allocable to Participating Securities (97) (201) (264) (439)
Net Income Available to Common Stockholders / Unitholders $ 67,188 $ 101,864 $ 173,422 $ 224,606
Basic and Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.50 $ 0.75 $ 1.28 $ 1.66
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.49 $ 0.75 $ 1.28 $ 1.66
Weighted Average Shares/Units Outstanding - Basic 135,479 135,099 135,461 135,088
Weighted Average Shares/Units Outstanding - Diluted 135,920 135,474 135,973 135,391