First Industrial Realty Trust Reports $288.1 Million Net Income for Nine Months Ended September 30, 2026

First Industrial Realty Trust, Inc. reported a net income of $288.1 million for the nine months ended September 30, 2026, a significant increase from $177.1 million in the same period of the previous year. Total revenues rose to $586.9 million, up 9% from $538.7 million in 2025, driven primarily by a 5.3% increase in revenues from same store properties, which amounted to $541.7 million. The company also noted a substantial increase in revenues from acquired properties, which surged by 230.1% to $17.3 million, reflecting the acquisition of six industrial properties totaling approximately 2.8 million square feet of gross leasable area.

In terms of operational metrics, First Industrial Realty Trust maintained a quarter-end in-service occupancy rate of 94.1%. The company has three development projects underway, totaling approximately 0.9 million square feet of gross leasable area, with an estimated investment of $146.4 million. During the nine months, the company completed the acquisition of two industrial properties for $145.5 million and 90 acres of developable land for $51.9 million. Additionally, it sold four industrial properties and a land site for gross proceeds of $160.5 million.

The company’s expenses also increased, with total property expenses rising to $151.9 million, an 8.6% increase from $140.0 million in the prior year. General and administrative expenses saw a notable rise of 23% to $40.4 million, largely due to costs associated with a contested proxy campaign. Interest expense increased by 16.1% to $73.1 million, attributed to a higher average debt balance and interest rates. Despite these increases, the company reported a comprehensive income of $302.8 million for the nine months, compared to $162.1 million in the previous year.

Looking ahead, First Industrial Realty Trust remains focused on internal growth strategies, including increasing occupancy and rental rates, while also pursuing external growth through acquisitions and developments in key logistics markets. The company has declared quarterly cash dividends of $0.50 per share, reflecting a 12.4% increase over the previous year. As of September 30, 2026, the company had $648.4 million available under its unsecured credit facility and $42.4 million in cash and cash equivalents, positioning it well for future investments and operational needs.