v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Lease Revenue $ 193,877 $ 175,376
Joint Venture Fees 51 426
Other Revenue 899 1,272
Total Revenues 194,827 177,074
Expenses:    
Property Expenses 53,614 48,311
General and Administrative 22,973 15,897
Joint Venture Development Services Expense 31 217
Depreciation and Other Amortization 50,068 43,754
Total Expenses 126,686 108,179
Other Income (Expense):    
Gain on Sale of Real Estate 109,032 6,844
Interest Expense (23,819) (19,469)
Amortization of Debt Issuance Costs (1,531) (963)
Total Other Income (Expense) 83,682 (13,588)
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 151,823 55,307
Equity in Income of Joint Venture 108 3,477
Income Tax Provision (4,013) (5,900)
Net Income 147,918 52,884
Less: Net Income Attributable to the Noncontrolling Interests (4,817) (4,781)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 143,101 48,103
Net Income Allocable to Participating Securities (63) (36)
Net Income Available to Common Stockholders / Unitholders $ 143,038 $ 48,067
Basic and Diluted Earnings Per Share / Unit:    
Net Income Available to Common Stockholders / Unitholders - Basic $ 1.08 $ 0.36
Net Income Available to Common Stockholders / Unitholders - Diluted $ 1.08 $ 0.36
Weighted Average Shares/Units Outstanding - Basic 132,573 132,415
Weighted Average Shares/Units Outstanding - Diluted 132,640 132,493
First Industrial, L.P.    
Revenues:    
Lease Revenue $ 193,877 $ 175,376
Joint Venture Fees 51 426
Other Revenue 899 1,272
Total Revenues 194,827 177,074
Expenses:    
Property Expenses 53,614 48,311
General and Administrative 22,973 15,897
Joint Venture Development Services Expense 31 217
Depreciation and Other Amortization 50,068 43,754
Total Expenses 126,686 108,179
Other Income (Expense):    
Gain on Sale of Real Estate 109,032 6,844
Interest Expense (23,819) (19,469)
Amortization of Debt Issuance Costs (1,531) (963)
Total Other Income (Expense) 83,682 (13,588)
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 151,823 55,307
Equity in Income of Joint Venture 108 3,477
Income Tax Provision (4,013) (5,900)
Net Income 147,918 52,884
Less: Net Income Attributable to the Noncontrolling Interests (44) (3,338)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 147,874 49,546
Net Income Allocable to Participating Securities (187) (84)
Net Income Available to Common Stockholders / Unitholders $ 147,687 $ 49,462
Basic and Diluted Earnings Per Share / Unit:    
Net Income Available to Common Stockholders / Unitholders - Basic $ 1.09 $ 0.37
Net Income Available to Common Stockholders / Unitholders - Diluted $ 1.08 $ 0.36
Weighted Average Shares/Units Outstanding - Basic 135,915 135,440
Weighted Average Shares/Units Outstanding - Diluted 136,493 136,115