Supplemental Information March 31, 2009

Transcription

1 First Industrial Realty Trust, Inc. (NYSE: FR) 311 S. Wacker Dr., Ste Chicago, IL Phone Fax Supplemental Information 31, 2009

2 Table of Contents 31, 2009 FINANCIAL STATEMENTS (see Note 1 Below) PAGE By Quarter Balance Sheet 3 Statement of Operations 4 Supplemental Statement of Operations 5 Financial Highlights 6 Statement of Operations Reconciliation 7 Supplemental Statement of Operations Reconciliation 8 SELECTED FINANCIAL INFORMATION By Quarter Equity Analysis 9 Balance Sheet Debt Analysis 11 Dividend Analysis 12 Valuation Analysis 13 SELECTED PROPERTY INFORMATION Property Information 14 Property Acquisition Summary 22 Property Development Summary 24 Property Sales Summary 26 Developable and Expandable Site Inventory 29 JOINT VENTURE INFORMATION Financial Information 30 Property Information 31 Property Acquisition Summary 32 Property Development Summary 34 Property Sales Summary 36 Developable and Expandable Site Inventory 37 FOOTNOTES 38 (1) The statement of operations and supplemental statement of operations provided in this supplemental information package present funds from operations, net operating income, EBITDA, funds available for distribution and same store net operating income, which are REIT industry financial measures that are not calculated in accordance with generally accepted accounting principles. Please see footnote (am) for a definition of these supplemental performance measures. Please see the supplemental statement of operations reconciliation for a reconciliation of certain captions in the supplemental statement of operations reported in this supplementalinformation package to the statement of operations as reported in the Company'sfilings with the Securities and Exchange Commission on Form 10-Q. First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 2

3 Balance Sheets (IN 000's) Quarter Ended As Adjusted (j) December September June 31, , , , , 2008 ASSETS Investment in Real Estate Land (ai) $ 774,172 $ 776,991 $ 763,087 $ 672,443 $ 648,181 Buildings and Improvements 2,573,996 2,551,450 2,466,486 2,454,065 2,555,578 Construction in Progress (al) 28,398 57,156 78,140 94,225 57,356 Gross Real Estate Investment 3,376,566 3,385,597 3,307,713 3,220,733 3,261,115 Less: Accumulated Depreciation (541,842) (523,108) (493,330) (493,708) (493,188) Net Investment in Real Estate 2,834,724 2,862,489 2,814,383 2,727,025 2,767,927 Real Estate Held for Sale, Net (y) 16,669 21,117 70,220 21,910 48,795 Cash and Cash Equivalents 37,802 3,182 6,858 14,413 6,085 Restricted Cash (b) , ,028 25,054 Tenant Accounts Receivable, Net 11,780 10,414 9,207 10,530 12,068 Investment in Joint Ventures 16,094 16,299 60,673 63,376 60,694 Deferred Rent Receivable, Net 34,377 32,984 30,101 30,451 30,567 Deferred Financing Costs, Net 11,383 12,091 12,796 13,604 14,526 Deferred Leasing Intangibles, Net 83,533 90,342 84,446 81,723 85,918 Prepaid Expenses and Other Assets, Net (d) 165, , , , ,808 Total Assets $ 3,212,339 $ 3,223,501 $ 3,314,120 $ 3,290,353 $ 3,265,442 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Mortgage Loans Payable, Net (e) $ 76,303 $ 77,396 $ 78,466 $ 76,017 $ 72,612 Senior Unsecured Debt, Net (f) (ad) 1,512,815 1,511,955 1,511,104 1,525,222 1,545,901 Unsecured Line of Credit (g) 488, , , , ,706 Accounts Payable, Accrued Expenses and Other Liabilities 102, , , , ,718 Deferred Leasing Intangibles, Net 29,717 30,754 20,632 21,066 21,012 Rents Received in Advance and Security Deposits 26,474 26,181 24,663 26,784 32,180 Leasing Intangibles Held for Sale, Net (y) Dividends Payable - 13,846 36,425 37,652 36,423 Total Liabilities 2,236,805 2,232,785 2,226,987 2,172,884 2,168,552 Stockholders' Equity Preferred Stock (f)(i) Common Stock Additional Paid in Capital 1,442,955 1,398,024 1,376,022 1,371,089 1,366,258 Distributions in Excess of Accumulated Earnings (385,627) (370,229) (286,328) (257,851) (266,831) Accumulated Other Comprehensive Loss (c) (22,415) (19,668) (8,816) (6,818) (11,675) Treasury Stock at Cost (140,018) (140,018) (140,018) (140,018) (140,018) Total Stockholders' Equity 895, , , , ,220 Noncontrolling Interest (h) 80, , , , ,670 Total Equity 975, ,716 1,087,133 1,117,469 1,096,890 Total Liabilities and Stockholders' Equity $ 3,212,339 $ 3,223,501 $ 3,314,120 $ 3,290,353 $ 3,265,442 First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 3

4 GAAP Statement of Operations By Quarter (IN 000'S) Quarter Ended As Adjusted (j) 31, , 2008 Revenues Rental Income $ 69,521 $ 64,600 Tenant Recoveries and Other Income 25,140 25,609 Construction Revenues 18,431 22,954 Total Revenues 113, ,163 Expenses Property Expenses 33,613 32,034 General and Administrative 10,109 23,356 Restructuring Costs (af) 4,744 - Depreciation of Corporate FF&E Depreciation and Other Amortization of Real Estate 38,620 36,215 Construction Expenses 17,883 22,301 Total Expenses 105, ,367 Other Income/(Expense) Interest Income Interest Expense (ae) (28,098) (29,251) Amortization of Deferred Financing Costs (708) (713) Mark-to-Market Gain on Interest Rate Protection Agreements (c) 1,115 - Total Other Income/(Expense) (27,130) (29,320) LOSS FROM CONTINUING OPERATIONS BEFORE EQUITY IN INCOME OF JOINT VENTURES AND INCOME TAX BENEFIT (19,604) (30,524) Equity in Income of Joint Ventures 29 3,302 Income Tax Benefit 1,816 2,508 LOSS FROM CONTINUING OPERATIONS (17,759) (24,714) Income from Discontinued Operations (Including Gain on Sale of Real Estate of $4,413 and $73,361 for the Three Months Ended 31, 2009 and 2008, respectively) 4,696 79,339 Benefit (Provision) for Income Taxes Allocable to Discontinued Operations (Including $93 and $(247) allocable to Gain on Sale of Real Estate for the Three Months Ended 31, 2009 and 2008, respectively) 106 (407) (LOSS) INCOME BEFORE GAIN ON SALE OF REAL ESTATE (12,957) 54,218 Gain on Sale of Real Estate 460 7,671 Provision for Income Taxes Allocable to Gain on Sale of Real Estate (29) (1,591) NET (LOSS) INCOME (12,526) 60,298 Net Loss (Income) Attributable to the Noncontrolling Interest 1,982 (7,075) NET (LOSS) INCOME ATTRIBUTABLE TO FIRST INDUSTRIAL REALTY TRUST, INC. (10,544) 53,223 Preferred Dividends (4,857) (4,857) NET (LOSS) INCOME AVAILABLE TO FIRST INDUSTRIAL REALTY TRUST, INC.'s COMMON STOCKHOLDERS $ (15,401) $ 48,366 First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 4

5 Supplemental Statement of Operations (am) By Quarter (IN 000'S) Quarter Ended As Adjusted (j) 31, , 2008 Revenues Rental Income $ 70,420 $ 76,236 Tenant Recoveries and Other Income 23,686 26,936 Total Revenues 94, ,172 Expenses Real Estate Taxes 15,689 15,690 Repairs and Maintenance 7,753 9,441 Property Management 4,252 6,078 Utilities 3,724 3,876 Insurance 1, Other 1,625 2,363 Total Property Expenses 34,106 38,360 NET OPERATING INCOME 60,000 64,812 FFO from Joint Ventures (ak) 4,550 7,974 NAREIT Compliant Economic Gains (l) 461 7,649 Non-NAREIT Compliant Economic Gains (aa) 1,273 31,451 Non-NAREIT Compliant Economic Gains from Joint Ventures (ak) 19 1,000 General and Administrative Expense (10,109) (23,356) EBITDA 56,194 89,530 Interest Expense (ae) (28,098) (29,251) Restructuring Costs (af) (4,744) - Benefit for Income Taxes 1, Non-NAREIT Compliant Economic Gains (aa) (1,273) (31,451) Non-NAREIT Compliant Economic Gains from Joint Ventures (ak) (19) (1,000) Mark-to-Market Gain on Interest Rate Protection Agreements (c) 1,115 - Preferred Dividends (4,857) (4,857) Amortization of Deferred Financing Costs (708) (713) Depreciation of Corporate FF&E (597) (461) FUNDS FROM OPERATIONS - FFO (NAREIT) 18,906 22,307 Depreciation and Other Amortization (38,898) (40,135) Equity in Dep/Other Amortization of Joint Ventures (1,822) (1,114) Preferred Dividends 4,857 4,857 Non-NAREIT Compliant Economic Gains (aa) 1,273 31,451 Non-NAREIT Compliant Economic Gains from Joint Ventures (ak) 19 1,000 Accumulated Depreciation/Amortization on Real Estate Sold 3,139 41,932 NET (LOSS) INCOME $ (12,526) $ 60,298 Noncontrolling Interest (h) 1,982 (7,075) Preferred Dividends (4,857) (4,857) NET (LOSS) INCOME AVAILABLE TO FIRST INDUSTRIAL REALTY TRUST, INC.'s COMMON STOCKHOLDERS (15,401) 48,366 EBITDA $ 56,194 $ 89,530 Interest Expense (28,098) (29,251) Restructuring Costs (af) (4,744) - Benefit for Income Taxes 1, Preferred Dividends (4,857) (4,857) Straight-line Rental Income Adjustment (1,882) (2,006) Restricted Stock Amortization 5,422 3,460 Non-Incremental Capital Expenditures (n) (4,586) (6,805) FUNDS AVAILABLE FOR DISTRIBUTION - FAD $ 19,342 $ 50,581 COMMON DIVIDENDS/DISTRIBUTIONS N/A $ 36,423 First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 5

6 Financial Highlights (ac)(am) By Quarter (PER SHARE) Quarter Ended As Adjusted (j) 31, , 2008 FUNDS FROM OPERATIONS (NAREIT) - BASIC/DILUTED (aa) $ 0.38 $ 0.44 FUNDS AVAILABLE FOR DISTRIBUTION - BASIC/DILUTED $ 0.39 $ 1.00 NET (LOSS) INCOME AVAILABLE TO FIRST INDUSTRIAL REALTY TRUST, INC.'s COMMON STOCKHOLDERS - BASIC/DILUTED $ (0.35) $ 1.10 COMMON DIVIDENDS/DISTRIBUTIONS N/A $ 0.72 First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 6

7 Statement of Operations Reconciliation By Quarter (IN 000'S) Quarter Ended As Adjusted (j) 31, , 2008 NET (LOSS) INCOME AVAILABLE TO FIRST INDUSTRIAL REALTY TRUST, INC.'s COMMON STOCKHOLDERS $ (15,401) $ 48,366 Depreciation and Other Amortization of Real Estate 38,620 36,215 Depreciation and Other Amortization of Real Estate Included in Discontinued Operations 278 3,920 Noncontrolling Interest (1,982) 7,075 Depreciation and Other Amortization of Real Estate - Joint Ventures 1,822 1,838 Accumulated Depreciation/Amortization on Real Estate Sold (3,139) (41,932) Accumulated Depreciation/Amortization on Real Estate Sold - Joint Ventures - (724) Non-NAREIT Compliant Economic Gains (aa) (1,273) (31,451) Non-NAREIT Compliant Economic Gains from Joint Ventures (ak) (19) (1,000) FUNDS FROM OPERATIONS (NAREIT) (aa) $ 18,906 $ 22,307 Restricted Stock Amortization 5,422 3,460 Amortization of Deferred Financing Costs Depreciation of Corporate FF&E Non-NAREIT Compliant Economic Gains (aa) 1,273 31,451 Non-NAREIT Compliant Economic Gains from Joint Ventures (ak) 19 1,000 Mark-to-Market Gain on Interest Rate Protection Agreements (c) (1,115) - Non-Incremental Capital Expenditures (n) (4,586) (6,805) Straight-line Rental Income Adjustment (1,882) (2,006) FUNDS AVAILABLE FOR DISTRIBUTION ("FAD") (am) $ 19,342 $ 50,581 NET (LOSS) INCOME AVAILABLE TO FIRST INDUSTRIAL REALTY TRUST, INC.'s COMMON STOCKHOLDERS $ (15,401) $ 48,366 Interest Expense (ae) 28,098 29,251 Restructuring Costs (af) 4,744 - Depreciation and Other Amortization of Real Estate 38,620 36,215 Depreciation and Other Amortization of Real Estate Included in Discontinued Operations 278 3,920 Preferred Dividends 4,857 4,857 Benefit for Income Taxes (1,893) (510) Noncontrolling Interest (1,982) 7,075 Amortization of Deferred Financing Costs Depreciation of Corporate FF&E Depreciation and Other Amortization of Real Estate - Joint Ventures 1,822 1,838 Mark-to-Market Gain on Interest Rate Protection Agreements (c) (1,115) - Accumulated Depreciation/Amortization on Real Estate Sold (3,139) (41,932) Accumulated Depreciation/Amortization on Real Estate Sold - Joint Ventures - (724) EBITDA (am) $ 56,194 $ 89,530 General and Administrative 10,109 23,356 Non-NAREIT Compliant Economic Gains from Joint Ventures (ak) (19) (1,000) Non-NAREIT Compliant Economic Gains (aa) (1,273) (31,451) NAREIT Compliant Economic Gains (l) (461) (7,649) FFO from Joint Ventures (ak) (4,550) (7,974) NET OPERATING INCOME (am) $ 60,000 $ 64,812 First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 7

8 Supplemental Statement of Operations Reconciliation (am) By Quarter (IN 000'S) Quarter Ended 31, , 2008 REVENUES Total Revenues per the Form 10-Q/Press Release $ 113,092 $ 113,163 Interest Income Construction Revenues (18,431) (22,954) Net Construction Profit Fees Earned from Joint Ventures (2,718) (4,558) Revenues from Discontinued Operations 1,054 16,224 Total Revenues per the Supplemental $ 94,106 $ 103,172 EXPENSES Property Expenses per the Form 10-Q/Press Release $ 33,613 $ 32,034 Property Expenses from Discontinued Operations 493 6,326 Property Expenses per the Supplemental $ 34,106 $ 38,360 NAREIT COMPLIANT ECONOMIC GAINS Gain on Sale of Real Estate per Form 10-Q/Press Release $ 460 $ 7,671 Gain on Sale of Property from Discontinued Operations 4,413 73,361 Non-NAREIT Compliant Economic Gains (1,273) (31,451) Accumulated Depreciation/Amortization on Real Estate Sold (3,139) (41,932) NAREIT Compliant Economic Gains per the Supplemental $ 461 $ 7,649 DEPRECIATION AND OTHER AMORTIZATION Depreciation and Other Amortization per the Form 10-Q/Press Release $ 39,217 $ 36,676 Depreciation and Other Amortization from Discontinued Operations 278 3,920 Less: Depreciation of Corporate FF&E (597) (461) Depreciation and Other Amortization per the Supplemental $ 38,898 $ 40,135 FFO FROM JOINT VENTURES Equity in Income of Joint Ventures per the Form 10-Q/Press Release $ 29 $ 3,302 Fees Earned from Joint Ventures 2,718 4,558 Equity in Dep/Other Amortization of Joint Ventures 1,822 1,114 Non-NAREIT Compliant Economic Gains from Joint Ventures (19) (1,000) FFO from Joint Ventures per the Supplemental $ 4,550 $ 7,974 First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 8

9 Equity Analysis (IN 000'S EXCEPT PER SHARE DATA) 31, , 2008 COMMON STOCK Common Shares and Partnership Units Outstanding Common Shares 44,664 44,300 Partnership Units (o) 5,688 6,288 Total 50,352 50,588 Basic & Diluted Weighted Avg. Shares/Units Outstanding (ac) 49,919 49,407 Weighted Avg. Shares Outstanding (ac) 44,147 42,984 Common Shares Trading Volume Average Daily Volume (Shares) 1, Average Daily Volume (Dollars) (p) $ 5,571 $ 24,556 As a % of Common Shares 3.09% 1.74% Common Share Price Range Quarterly High $ 7.42 $ Quarterly Low Quarterly Average (q) End of Quarter Common Stock Options Outstanding (Shares) (r) Weighted Average Option Exercise Price $ $ PREFERRED STOCK (i) Series F Preferred Depositary Shares Outstanding Series F Preferred Depositary Shares Book Value $ 1, $ 1, Series G Preferred Depositary Shares Outstanding Series G Preferred Depositary Shares Book Value $ 1, $ 1, Series J Preferred Depositary Shares Outstanding 6,000 6,000 Series J Preferred Depositary Shares Book Value $ $ Series K Preferred Depositary Shares Outstanding 2,000 2,000 Series K Preferred Depositary Shares Book Value $ $ CAPITALIZATION Book Value of Preferred Stock 275, ,000 Market Value of Common Equity 123,362 1,562,663 Market Capitalization $ 398,362 $ 1,837,663 Total Debt 2,077,726 1,967,219 Total Market Capitalization $ 2,476,088 $ 3,804,882 (Market Capitalization + Total Debt) First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 9

10 Equity Analysis (IN 000'S EXCEPT PER SHARE DATA) RESEARCH Current Analysts Coverage BMO Capital Markets Credit Suisse Citigroup Davenport & Company GreenStreet Advisors Janney Montgomery Scott Macquarie Research Equities (USA) Morningstar Raymond James & Associates RBC Capital Markets Standard & Poor's Stock Report Contact Paul Adornato Steve Benyik Michael Bilerman Allan Bach Cedrik Lachance Stephanie Krewson Ki Bin Kim David Rodziewicz Paul Puryear David Rodgers Robert McMillan INSTITUTIONAL OWNERSHIP % of Shares Common Owned Shares/Units Top Ten Institutional Holders 13F, UK UT, CAN MF and Offsh Fd 17,588, % Top Twenty Institutional Holders 13F, UK UT, CAN MF and Offsh Fd 21,070, % Total Shares Held by Institutions 13F, UK UT, CAN MF and Offsh Fd 28,154, % Total Number of Institutional Shareholders 13F, UK UT, CAN MF, and Offsh Fd 187 Source: Based on information compiled by Thomson Financial and using total outstanding shares and units of 50,352,195. This information may reflect filing and/or reporting lags. First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 10

11 Balance Sheet Debt Analysis By Quarter (IN 000'S) Quarter Ended As Adjusted (j) DEBT OUTSTANDING 31, , 2008 Outstanding Balance Mortgage Loans Payable (e) $ 76,303 $ 72,612 Unsecured Line of Credit (g) 488, ,706 Senior Unsecured Debt, net (f)(ad) 1,512,815 1,545,901 $ 2,077,726 $ 1,967,219 Average Outstanding Balance Mortgage Loans Payable (e) $ 76,835 $ 73,060 Unsecured Line of Credit (g) 480, ,515 Senior Unsecured Debt, net (f)(ad) 1,512,250 1,545,355 $ 2,069,184 $ 2,046,930 Interest Rate Structure Fixed (e)(ad)(c) $ 1,639,118 $ 1,668,513 Floating (g)(c) 438, ,706 $ 2,077,726 $ 1,967,219 Average Interest Rates Mortgage Loans Payable (e) 6.06% 6.02% Unsecured Line of Credit (g) 1.70% 4.24% Senior Unsecured Debt, net (f) (ad) 6.76% 6.70% Total Weighted Average 5.56% 6.16% DEBT RATIOS Unencumbered Real Estate / Total Real Estate 95.6% 96.1% COVERAGE RATIOS Interest Coverage - EBITDA 2.0x 3.1x (EBITDA / GAAP Interest Expense) Fixed Charge Coverage - EBITDA 1.7x 2.6x (EBITDA / (GAAP Interest Expense + Principal Amort. + Preferred Dividends)) PRINCIPAL AMORTIZATION DEBT MATURITY Weighted Average Maturity in Years as of 3/31/09 (v) Debt Maturity and Scheduled Principal Amortization Payments By Year as of 3/31/09 (ab) , , , , , , , , , , ,355 Thereafter 265,768 Total Debt $ 2,091,881 First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 11

12 Dividend Analysis By Quarter Quarter Ended 31, , 2008 COMMON STOCK DIVIDENDS Dividends per Share/Unit N/A $ 0.72 Percentage of Dividend - Ordinary Income (z) N/A 4.68% Percentage of Dividend - Return of Capital (z) N/A 0% Percentage of Dividend - Capital Gain (z) N/A 88.41% Percentage of Dividend - Qualified Dividend Income (z) N/A 6.91% Common Shareholders' Record Date N/A 3/31/2008 Common Dividends Payment Date N/A 4/21/2008 COMMON DIVIDEND/UNIT DISTRIBUTIONS PAYOUT RATIOS PER SHARE/UNIT Payout - FFO (NAREIT) N/A 162.4% (Common Dividends / Unit Distributions / FFO) Payout - FAD N/A 71.6% (Common Dividends / Unit Distributions / FAD) Dividend Coverage - FFO (NAREIT) N/A 0.62x (FFO / Common Dividends / Unit Distributions) Dividend Coverage - FAD N/A 1.40x (FAD / Common Dividends / Unit Distributions) COMMON DIVIDEND YIELDS Dividend Yield N/A 9.32% Spread Over 5 Year U.S. Treasury (u) N/A 6.85% Spread Over 10 Year U.S. Treasury (u) N/A 5.89% PREFERRED STOCK DIVIDENDS (i) Series F Preferred Stock Dividends Per Depositary Share $ $ Series F Preferred Stock Dividend Yield N/A N/A Series F Quarter End Price N/A N/A Series G Preferred Stock Dividends Per Depositary Share $ $ Series G Preferred Stock Dividend Yield N/A N/A Series G Quarter End Price N/A N/A Series J Preferred Stock Dividends Per Depositary Share $ $ Series J Preferred Stock Dividend Yield 25.00% 8.73% Series J Quarter End Price Series K Preferred Stock Dividends Per Depositary Share $ $ Series K Preferred Stock Dividend Yield 25.93% 8.65% Series K Quarter End Price First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 12

13 Valuation Analysis By Quarter Quarter Ended As Adjusted (j) 31, , 2008 PRICING MULTIPLES /YIELDS NOI Multiple 10.3x 15.0x ((Mkt. Value of Common Equity+Avg. Preferred Stock+ Avg. Total Debt)/Ann. NOI) (s) EBITDA Multiple 11.0x 10.8x ((Mkt. Value of Common Equity+Avg. Preferred Stock+ Avg. Total Debt)/Ann. EBITDA) (s) FFO (NAREIT) Multiple 1.6x 17.5x (Market Value of Common Equity / Ann. FFO) (s) FAD Multiple 1.6x 7.7x (Market Value of Common Equity / Ann. FAD) (s) NOI Yield 9.7% 6.7% (Ann. NOI / (Mkt. Value of Common Equity + Avg. Preferred Stock+ Avg. Total Debt)) (s) EBITDA Yield 9.1% 9.2% (Ann. EBITDA / (Mkt. Value of Common Equity + Avg. Preferred Stock+ Avg. Total Debt)) (s) FFO (NAREIT) Yield 61.3% 5.7% (Ann. FFO / Market Value of Common Equity) (s) FAD Yield 62.7% 12.9% (Ann. FAD / Market Value of Common Equity) (s) RETURNS Unleveraged Yield on Real Estate Owned - NOI 7.2% 8.0% (Ann. NOI / Avg. Gross Real Estate Investment) (s) Unleveraged Yield on Real Estate Owned - EBITDA 6.7% 11.1% (Ann. EBITDA / Avg. Gross Real Estate Investment)) (s) Return on Book Value of Common Stockholders' Equity 15.8% 33.5% (Ann. EBTDA / Avg. Common Stockholders' Equity) (s) First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 13

14 On Balance Sheet Property Information As Of 31, , 2008 TOTAL PORTFOLIO Number of Properties In-Service (t) Completed Developments, not in-service (m) 2 6 Acquisitions/Redevelopments, not in-service (m) 7 26 Total Number of Properties Developments Under Construction 1 5 Land Area - Developed (Acres) 5, , Land Area - Developable (Acres) (w) Gross Leasable Area (Square Feet) In-Service (t) 68,373,061 66,215,415 Completed Developments, not in-service (m) 1,377,943 1,922,560 Acquisitions/Redevelopments, not in-service (m) 1,029,255 3,537,021 Total Gross Leasable Area (Square Feet) 70,780,259 71,674,996 Developments Under Construction (Square Feet) 121,208 2,728,123 Occupied In-Service (Square Feet) 58,777,582 60,884,043 Vacant In-Service (Square Feet) 9,595,479 5,331,372 Number of In-Service Tenants 2,051 2,266 Average In-Service Tenant Size (Square Feet) 28,658 26,869 Occupancy Rates - In Service GLA 86.0% 91.9% For the Three Months Ended 31, , 2008 PORTFOLIO LEASING AND OPERATING STATISTICS Leasing Lease Costs Per Square Foot $ 2.18 $ 1.90 (includes tenant improvements and lease commissions) Tenant Retention (by square feet) 69.4% 74.8% Tenant Retention (by number of leases) 76.5% 68.4% Weighted Average Lease Term (years) Capital Expenditures Non-Leasing Capital Expenditures Per Sq. Ft (i.e., roofs, parking lot, etc.) 31, 2009 For the Three Months Ended Same Property Detail (am) Change in Revenues (1.7%) Change in Expenses 1.6% Change in NOI (3.4%) Change in NOI w/o termination fees (0.2%) Change in Occupancy (1.0%) Square Feet in Same Property Pool 59,729,783 % of Total Gross Leasable Area (Square Feet) 84.4% First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 14

15 On Balance Sheet Property Information 31, , 2008 GLA In Service Gross Leasable Area by Metropolitan Area Atlanta 5,541,794 4,952,047 Baltimore/Washington D.C. 1,955,742 1,859,542 Central Pennsylvania 3,123,744 1,820,441 Chicago 4,553,537 4,480,137 Cincinnati 2,128,539 2,018,539 Cleveland 1,124,799 1,124,799 Columbus 3,290,159 2,759,379 Dallas/Ft. Worth 6,108,576 5,766,272 Denver 3,199,803 4,456,116 Detroit 4,443,134 4,410,591 Houston 2,910,249 2,829,494 Indianapolis 4,151,760 4,590,232 Inland Empire 662, ,940 Los Angeles 1,780,792 1,192,203 Louisville 124, ,935 Miami 424, ,626 Milwaukee 2,381,699 1,199,958 Minneapolis/St. Paul 4,228,755 4,543,565 Nashville 2,030,036 1,184,299 Northern New Jersey 1,279,409 1,329,116 Philadelphia 1,274,178 2,090,173 Phoenix 1,185, ,553 Salt Lake City 1,213,317 1,365,763 San Diego 322, ,527 Seattle 240,046 n/a Southern New Jersey 1,120,447 1,778,711 St. Louis 2,406,950 2,491,200 Tampa 1,133,961 1,152,406 Toronto 955, ,494 Other 3,076,085 3,639,357 Total In Service GLA 68,373,061 66,215,415 In Service GLA as a % of Total Portfolio by Metropolitan Area Atlanta 8.1% 7.5% Baltimore/Washington D.C. 2.9% 2.8% Central Pennsylvania 4.6% 2.7% Chicago 6.7% 6.8% Cincinnati 3.1% 3.0% Cleveland 1.6% 1.7% Columbus 4.8% 4.2% Dallas/Ft. Worth 8.9% 8.7% Denver 4.7% 6.7% Detroit 6.5% 6.7% Houston 4.3% 4.3% Indianapolis 6.1% 6.9% Inland Empire 1.0% 0.9% Los Angeles 2.6% 1.8% Louisville 0.2% 0.2% Miami 0.6% 0.4% Milwaukee 3.5% 1.8% Minneapolis/St. Paul 6.2% 6.9% Nashville 3.0% 1.8% Northern New Jersey 1.9% 2.0% Philadelphia 1.9% 3.2% Phoenix 1.7% 1.4% Salt Lake City 1.8% 2.1% San Diego 0.5% 0.5% Seattle 0.4% n/a Southern New Jersey 1.6% 2.7% St. Louis 3.5% 3.8% Tampa 1.7% 1.7% Toronto 1.4% 1.4% Other 4.5% 5.5% Total 100.0% 100.0% First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 15

16 On Balance Sheet Property Information NUMBER OF PROPERTIES 31, , 2008 Atlanta Baltimore/Washington D.C Central Pennsylvania Chicago Cincinnati Cleveland 7 7 Columbus Dallas/Ft. Worth Denver Detroit Houston Indianapolis Inland Empire 3 2 Los Angeles Louisville 1 1 Miami 7 6 Milwaukee Minneapolis/St. Paul Nashville 10 9 Northern New Jersey Philadelphia Phoenix Salt Lake City San Diego Seattle 3 n/a Southern New Jersey St. Louis Tampa Toronto 4 4 Other Total In Service Properties Atlanta 4.7% 4.6% Baltimore/Washington D.C. 3.3% 3.4% Central Pennsylvania 2.2% 1.7% Chicago 5.1% 5.0% Cincinnati 2.0% 1.7% Cleveland 0.9% 0.9% Columbus 1.5% 1.2% Dallas/Ft. Worth 11.4% 11.7% Denver 7.1% 7.9% Detroit 16.1% 15.4% Houston 3.8% 3.5% Indianapolis 5.0% 5.0% Inland Empire 0.4% 0.2% Los Angeles 3.0% 2.2% Louisville 0.1% 0.1% Miami 0.9% 0.7% Milwaukee 2.5% 1.7% Minneapolis/St. Paul 4.4% 4.5% Nashville 1.3% 1.1% Northern New Jersey 2.4% 2.4% Philadelphia 1.9% 3.9% Phoenix 1.5% 1.2% Salt Lake City 5.5% 5.4% San Diego 1.4% 1.3% Seattle 0.4% n/a Southern New Jersey 1.3% 3.0% St. Louis 2.2% 2.2% Tampa 4.4% 4.4% Toronto 0.5% 0.5% Other 2.7% 2.9% Total In Service Properties 100.0% 100.0% First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 16

17 On Balance Sheet Property Information 31, , 2008 NUMBER OF PROPERTIES Number of In Service Properties by Property Type (aj) Bulk Warehouse Light Industrial R&D/Flex Regional Warehouse Manufacturing Total In Service Properties BASE RENT Base Rent Rate by Property Type Bulk Warehouse 42.1% 39.8% Light Industrial 34.0% 36.1% R&D/Flex 11.3% 11.1% Regional Warehouse 9.3% 9.2% Manufacturing 3.3% 3.8% Total 100.0% 100.0% GLA In Service Gross Leasable Area by Property Type Bulk Warehouse 36,663,681 32,961,344 Light Industrial 19,015,307 20,294,013 R&D/Flex 4,530,052 4,525,923 Regional Warehouse 5,214,228 5,165,339 Manufacturing 2,949,793 3,268,796 Total In Service GLA 68,373,061 66,215,415 In Service Gross Leasable Area by Property Type Bulk Warehouse 53.6% 49.8% Light Industrial 27.8% 30.6% R&D/Flex 6.6% 6.8% Regional Warehouse 7.6% 7.8% Manufacturing 4.3% 4.9% Total 100.0% 100.0% Average In Service Property Size (GLA) Bulk Warehouse 211, ,198 Light Industrial 50,979 50,233 R&D/Flex 34,581 33,525 Regional Warehouse 58,587 58,038 Manufacturing 140, ,200 First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 17

18 On Balance Sheet Property Information OCCUPANCY RATES 31, , 2008 Occupancy Rates by Metropolitan Area Atlanta 75% 88% Baltimore/Washington D.C. 76% 98% Central Pennsylvania 87% 100% Chicago 83% 90% Cincinnati 90% 87% Cleveland 85% 75% Columbus 78% 93% Dallas/Ft. Worth 84% 92% Denver 90% 92% Detroit 87% 87% Houston 98% 95% Indianapolis 94% 97% Inland Empire 100% 100% Los Angeles 83% 86% Louisville 100% 100% Miami 58% 87% Milwaukee 92% 88% Minneapolis/St. Paul 91% 93% Nashville 98% 97% Northern New Jersey 92% 92% Philadelphia 97% 98% Phoenix 50% 83% Salt Lake City 82% 88% San Diego 84% 86% Seattle 100% n/a Southern New Jersey 78% 97% St. Louis 89% 99% Tampa 78% 84% Toronto 100% 100% Other 89% 92% 86% 92% RENTAL INCOME Rental Income as a % of Total Portfolio by Metropolitan Area Atlanta 5.2% 4.8% Baltimore/Washington D.C. 4.2% 4.6% Central Pennsylvania 4.2% 2.9% Chicago 6.4% 6.3% Cincinnati 2.7% 2.8% Cleveland 1.6% 1.5% Columbus 1.5% 2.2% Dallas/Ft. Worth 6.7% 6.3% Denver 6.0% 9.7% Detroit 7.5% 7.2% Houston 3.6% 3.3% Indianapolis 5.4% 5.2% Inland Empire 1.9% 1.0% Los Angeles 5.4% 2.6% Louisville 0.5% 0.4% Miami 0.5% 0.6% Milwaukee 3.2% 1.9% Minneapolis/St. Paul 6.5% 8.2% Nashville 2.1% 1.3% Northern New Jersey 3.7% 5.4% Philadelphia 2.3% 3.9% Phoenix 1.2% 1.1% Salt Lake City 1.9% 2.2% San Diego 2.2% 1.0% Seattle 1.0% n/a Southern New Jersey 1.4% 2.9% St. Louis 2.9% 3.5% Tampa 2.7% 2.6% Toronto 1.2% 1.2% Other 4.2% 3.5% 100.0% 100.0% First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 18

19 On Balance Sheet Property Information SAME PROPERTY OCCUPANCY RATES 31, , 2008 Property Occupancy Rates by Metropolitan Area Atlanta 76% 79% Baltimore/Washington D.C. 91% 97% Central Pennsylvania 98% 100% Chicago 85% 91% Cincinnati 90% 86% Cleveland 85% 81% Columbus 77% 79% Dallas/Ft. Worth 87% 89% Denver 89% 88% Detroit 88% 88% Houston 98% 93% Indianapolis 94% 96% Inland Empire 100% 100% Los Angeles 90% 82% Miami 74% 87% Milwaukee 87% 81% Minneapolis/St. Paul 91% 91% Nashville 97% 93% Northern New Jersey 92% 92% Philadelphia 97% 98% Phoenix 68% 74% Salt Lake City 83% 86% San Diego 84% 71% Southern New Jersey 78% 91% St. Louis 87% 94% Tampa 79% 85% Toronto 100% 100% Other 97% 91% Weighted Average Occupancy 88% 89% SAME PROPERTY RENTAL INCOME Annual Rental Income per Average Occupied Square Foot by Metropolitan Area (x) Atlanta Baltimore/Washington D.C Central Pennsylvania Chicago Cincinnati Cleveland Columbus Dallas/Fort Worth Denver Detroit Houston Indianapolis Inland Empire Los Angeles Miami Milwaukee Minneapolis/St. Paul Nashville Northern New Jersey Philadelphia Phoenix Salt Lake City San Diego Southern New Jersey St. Louis Tampa Toronto Other Weighted Average Rental Income / Sq.Ft First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 19

20 On Balance Sheet Property Information (AS OF MARCH 31, 2009 AND DOLLARS IN 000'S) LARGEST TENANTS Annualized Lease Net Rent Twenty Largest Tenants By Annualized Lease Net Rent Amount % of Total 1. Adesa (ai) 7, % 2. Ozburn-Hessey Logistics 4, % 3. Best Buy 2, % 4. Amgen 2, % 5. Exel 2, % 6. Rockwell 2, % 7. United Natural Foods 2, % 8. Vi-Jon 2, % 9. General Services Administration 2, % 10. Whirlpool 1, % 11. Volkswagen 1, % 12. Rust Oleum Corporation 1, % 13. Unisource 1, % 14. V&S Transportation, Inc. 1, % 15. Pure Fishing 1, % 16. Reliance Electric Company (ag) 1, % 17. Viasat 1, % 18. Carrier Corporation 1, % 19. Quad/Graphics 1, % 20. Ruan 1, % $ 47, % Gross Leasable Area Twenty Largest Tenants by Gross Leasable Area Occupied % of Total 1. Ozburn-Hessey Logistics 1,362, % 2. Rockwell Automation 931, % 3. Best Buy 728, % 4. Mars Petcare 705, % 5. Vi-Jon 700, % 6. United Natural Foods 675, % 7. Whirlpool 657, % 8. Reliance Electric Company (ag) 609, % 9. Rust Oleum Corporation 600, % 10. RB Distribution 575, % 11. Chep USA 443, % 12. Sears Roebuck 437, % 13. Emser Tile 417, % 14. Pure Fishing 400, % 15. Unisource Worldwide 398, % 16. TSN 394, % 17. Mallory Alexander International Logistics 388, % 18. Quad/Graphics 388, % 19. Goodwill Industries 372, % 20. Volkswagen 360, % 11,549, % First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 20

21 On Balance Sheet Property Information LEASE EXPIRATION SCHEDULE Average By Net Rent Amount Net Rent % of Total , % , % , % , % , % , % , % , % , % , % Thereafter 18, % $257, % Average By GLA GLA Lease (GLA) % of Total ,769,983 23, % ,345,426 21, % ,114,714 23, % ,080,081 26, % ,548,180 27, % ,421,916 44, % ,550,955 47, % ,399,926 82, % ,017 76, % ,201,053 28, % Thereafter 4,585, , % 58,777,582 28, % By Number of Leases Number % of Total % % % % % % % % % % Thereafter % 2, % First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 21

22 2009 On Balance Sheet Property Acquisition Summary WEIGHTED GROSS PURCHASE AVERAGE SQUARE LAND PRICE EXPECTED PORTFOLIO MARKET FEET ACREAGE (in millions) CAP RATE (k) Rockdale Land Nashville st Quarter Land Acquisitions 3.9 $0.2 Total First Quarter Acquisitions n/a 3.9 $0.2 Total 2009 Acquisitions n/a 3.9 $0.2 n/a First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 22

23 2008 On Balance Sheet Property Acquisition Summary WEIGHTED GROSS PURCHASE AVERAGE SQUARE LAND PRICE EXPECTED PORTFOLIO MARKET FEET ACREAGE (in millions) CAP RATE (k) 1590 E. Riverview Phoenix 90,000 $ Blvd of the Generals Philadelphia 110, S. 91st Avenue Phoenix 207, Romiss Court St. Louis 22, Day Street Inland Empire 63, Mack Arrowhead Phoenix 228, Green Drive Other 332, Nevada Chicago 119, Oakton Chicago 166, st Quarter Property Acquisitions 1,341,599 $ % Berry Business Park Land Houston 15.8 $1.5 Menomonee Falls Land Milwaukee st Quarter Land Acquisitions 70.2 $3.4 Total First Quarter Acquisitions 1,341, $ Marlay Avenue Inland Empire 208,415 $ Rancho Conejo & 2300 Corp Los Angeles 184, Denker Avenue Los Angeles 82, Darrow Road Cleveland 257, Laurel Park Road Los Angeles 30, W. Washington Street Phoenix 90, W. 103rd Street Chicago 52, nd Quarter Property Acquisitions 905,988 $ % Pure Fishing BTS Kansas City 48.2 $4.1 Arch and Newcastle Road Land San Francisco nd Quarter Land Acquisitions $11.8 Total Second Quarter Acquisitions 905, $86.3 Berg Portfolio Seattle 240,046 $ Bristol Pike Philadelphia 148, N. Great Southwest Parkway Dallas/Ft. Worth 220, Adesa Various (ai) Old Roswell Road Atlanta 80, Puget Sound Terminal Seattle (ai) Eva Street Minneapolis/St. Paul 165, rd Quarter Property Acquisitions 853,948 $ % Rockdale Land Nashville 48.0 $ Huntington Road Toronto rd Quarter Land Acquisitions $19.4 Total Third Quarter Acquisitions 853, $ S. Reyes Avenue Los Angeles 23,240 $16.1 Adesa Atlanta (ai) $7.5 4th Quarter Property Acquisitions 23,240 $ % Total Fourth Quarter Acquisitions 23,240 $23.6 Total 2008 Acquisitions 3,124, $ % First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 23

24 2009 On Balance Sheet Property Development Summary DEVELOPMENTS PLACED IN SERVICE ESTIMATED AVERAGE INVESTMENT EXPECTED DEVELOPMENT MARKET SQUARE FEET (in millions) CAP RATE (k) Vi-Jon BTS Nashville 700, Baltimore Crossroads Baltimore/Washington D.C. 300, First Garland Dallas/Ft. Worth 435, First Gateway Logistics Los Angeles 141, Quad Graphics BTS Milwaukee 388, Southpointe 2 Industrial Park Central Pennsylvania 300, Northpark at Saxony (Phase 2) Indianapolis 71, First Quarter Total 2,336,360 $ % DEVELOPMENTS IN PROCESS AT MARCH 31, 2009 ESTIMATED INVESTMENT DEVELOPMENT MARKET SQUARE FEET (in millions) 600 First Avenue Central Pennsylvania 1,279,350 $66.0 First Park Commerce Center Miami 98, Sens Road Distribution Center Houston 121, TOTAL IN PROCESS 1,499,151 $ % % Leased 0% % Funded 92% ADDITIONAL DEVELOPMENTS PLACED IN SERVICE ESTIMATED AVERAGE INVESTMENT EXPECTED DEVELOPMENT MARKET SQUARE FEET (in millions) CAP RATE (k) Park Technology Center (Bldg A,B,C) Denver 106, First Park Shakopee (Phase 3) Minneapolis 133, High Point Business Center Denver 37, First Quarter Total 276,475 $ % Note: Additional Developments Placed in Service were completed prior to 2008 and added to the in-service portfolio as a result of the modification of the in-service portfolio definition, effective in 1Q09. See footnote (t) for the definition of our in-service portfolio. Note: Developments in process above do not include fee developments in process where First Industrial has no equity interest in the project, yet acts as a developer and receives remuneration for these services. Total estimated project costs for these fee developments will be approximately $210 million. First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 24

25 2008 On Balance Sheet Property Development Summary DEVELOPMENTS PLACED IN SERVICE ESTIMATED AVERAGE INVESTMENT EXPECTED DEVELOPMENT MARKET SQUARE FEET (in millions) CAP RATE (k) First Park Commerce Center Miami 24,506 $2.7 Kimberly-Clark BTS Other 294, First Quarter Total 318,506 $ % GreenSpring Industrial Park Central Pennsylvania 675,000 $29.6 CHD Meridian BTS Nashville 50, Second Quarter Total 725,000 $ % RB Distribution Expansion Nashville 145,450 $5.1 Third Quarter Total 145,450 $ % Pure Fishing BTS St. Louis 400,828 $17.8 Rust-Oleum BTS Milwaukee 600,000 $26.6 Fourth Quarter Total 1,000,828 $ % 2008 Total 2,189,784 $ % First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 25

26 2009 On Balance Sheet Property Sales Summary SALE WEIGHTED SQUARE LAND PRICE AVERAGE ADDRESS/PORTFOLIO MARKET FEET ACREAGE (in millions) CAP RATE 1380 Perry Road Indianapolis 260, Triangle Boulevard Northern New Jersey 49, Clubhouse Lane Baltimore/Washington D.C. 71, st Quarter Property Sales 381,679 $ % Skyway Corp Center Denver 3.1 $1.0 1st Quarter Land Sales 3.1 $1.0 Total First Quarter Sales 381, $19.9 Total 2009 Sales 381, $ % First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 26

27 2008 On Balance Sheet Property Sales Summary SALE WEIGHTED SQUARE LAND PRICE AVERAGE ADDRESS/PORTFOLIO MARKET FEET ACREAGE (in millions) CAP RATE Pan American Miami 24,506 $ Innerbelt St. Louis 171, Cincinnati Industrial Portfolio Cincinnati 421, N. 124th Street Milwaukee 25, N. 132nd Street Milwaukee 100, Hutton Drive Dallas/Ft. Worth 48, City Park Loop Houston 191, Houston Portfolio Houston 101, Orange Street Salt Lake City 136, Kasota Avenue Portfolio Minneapolis/St. Paul 156, Hampshire Avenue Minneapolis/St. Paul 145, Chicago Portfolio Chicago 355, Cecilia Drive Minneapolis/St. Paul 161, Golden Triangle and City West Minneapolis/St. Paul 372, Allendale Portfolio Northern New Jersey 368, New Jersey Flex Northern New Jersey 170, Raritan Center Northern New Jersey 204, Southmeadow Parkway Atlanta 87, st Quarter Property Sales 3,242,513 $ % 5123 W. 200 South Salt Lake City 7.7 $0.9 Kenosha Land Milwaukee st Quarter Land Sales $12.7 Total First Quarter Sales 3,242, $ N. Nash Los Angeles 26,887 $ Apollo Road Minneapolis/St. Paul 312, Creekside Drive Tampa 18, Champions Drive Dallas/Ft. Worth 107, NW 107th Other 187, Business Center Chicago 34, Kimberly Clark BTS Other 294, Transfer Drive Indianapolis 177, Bergen Boulevard Indianapolis 71, Aspen Lane Minneapolis/St. Paul 96, Kimberly Clark BTS Kansas City 446, West Evans Denver 78, Yellow Brick Road Baltimore/Washington D.C. 60, CHD Meridian BTS Nashville 50, Lehigh Valley Portfolio Philadelphia 314, Cherry Hill Portfolio Southern New Jersey 737, Dartmouth Industrial Portfolio Denver 663, Bucks County Portfolio Philadelphia 649, Valley Boulevard Los Angeles 66, nd Quarter Property Sales 4,394,616 $ % 1660 S. Abilene Denver 2.3 $0.4 Metro Business Park Land Salt Lake City nd Quarter Land Sales 8.9 $2.0 Total Second Quarter Sales 4,394, $ Oakbrok Drive Atlanta 30,378 $ Energy Park Minneapolis/St. Paul 71, Arthur Avenue Chicago 76, Airport, 7430 &7420 Whitehall Dallas/Ft. Worth 59, East 53rd Street Denver 514, S. 51st Street Phoenix 22, Mid County Portfolio St. Louis 199, Roundtable Portfolio Dallas/Ft. Worth 77, Dogwood Park Dallas/Ft. Worth 18, Golden Hills West Baltimore/Washington D.C. 72, rd Quarter Property Sales 1,143,537 $ % Total Third Quarter Sales 1,143,537 $63.9 First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 27

28 2008 On Balance Sheet Property Sales Summary SALE WEIGHTED SQUARE LAND PRICE AVERAGE ADDRESS/PORTFOLIO MARKET FEET ACREAGE (in millions) CAP RATE 4201 Kellway Circle Dallas/Ft. Worth 41,019 $ West 1730 South Salt Lake City 113, NW 21st Place Portland 36, & 6955 Portwest Drive Houston 70, S. 150 East Salt Lake City 120, th Quarter Property Sales 380,955 $ % Total Fourth Quarter Sales 380,955 $24.3 Total 2008 Sales 9,161, $ % First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 28

29 On Balance Sheet Developable and Expandable Site Inventory (AS OF MARCH 31, 2009) Useable Land Area (w) Developable/ Expandable Market/Location (Acres) GLA (Est.) (w) Owned Land Hunt Valley, MD ,000 Lanham, MD ,000 Lanham, MD ,000 Windsor Mill, MD ,000 Baltimore/Washington D.C ,000 Gouldsboro, PA ,000 Gouldsborro, PA Central Pennsylvania ,000 Kenosha, WI ,500 Menomonee Falls, WI ,000 Menomonee Falls, WI ,000 Menomonee Falls, WI ,000 Chicago ,500 West Chester, OH ,000 Cincinnati ,000 Cleveland, OH ,000 Cleveland ,000 Grove City, OH ,000 Columbus ,000 Dallas, TX ,500 Dallas/ Ft. Worth ,500 Golden, CO ,000 Broomfield, CO ,000 Denver ,000 La Porte, TX ,640 Houston ,640 Indianapolis, IN ,150 Indianapolis ,150 Moreno Valley, CA ,100 Inland Empire ,100 Los Angeles, CA ,581 Los Angeles, CA ,000 Los Angeles ,581 Maple Grove, MN ,576 Minneapolis/St. Paul ,576 Wilson County, TN ,000 Wilson County, TN ,000,000 Horn Lake, MS ,000 Nashville ,800,000 Sayerville, NJ ,200 New Jersey ,200 Allentown, PA ,000 Philadelphia ,000 Stockon, CA ,200,000 San Francisco ,200,000 Lakeland, FL ,000 Tampa ,000 Vaughan, ON ,500 Vaughan, ON ,100,000 Toronto ,977,500 TOTAL OF OWNED LAND ,037,747 First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 29

30 Selected Financial Data: Joint Venture Financial Information ($ IN 000'S) This table shows the financial results of the Joint Ventures and the Company's proportionate share of those results. In addition to the FFO and net income shown below, the Company earns fees and incentives, as more fully described in footnote (ak) Net Lease JV Dev/Rep JV Core JV Net Lease JV Land/Dev JV Canada JV Europe JV Total FR's Share FR Ownership % 15% 10% 10% 15% 10% 10% 10% Three Months Ended 31, 2009 Net Operating Income / (Loss) $ 5,158 $ 548 $ 5,084 $ 6,456 $ (743) $ 731 $ 6 $ 17,240 $ 2,305 Plus: NAREIT Compliant Economic Gains Less: General & Administrative Expense (126) (1,455) (319) (307) (351) (142) (535) (3,235) (345) Less: Interest Expense (2,109) (3,338) (801) (2,685) (1,871) (142) (10) (10,956) (1,336) Less: Amortization of Deferred Financing Fees (54) (303) (42) (8) (353) (17) - (777) (81) Funds from Operations (1) 2,869 (4,397) 3,922 3,456 (2,950) 430 (539) 2, Less: Depreciation and Amortization (2,728) (5,642) (3,308) (3,218) (112) (201) - (15,209) (1,818) Plus: Non-NAREIT Compliant Economic Gains Plus: Accum Dep/Amort on Real Estate Sold Net Income / (Loss) $ 141 $ (9,949) $ 708 $ 238 $ (3,062) $ 234 $ (539) $ (12,229) $ (1,204) As of 31, 2009 Gross Real Estate Investment (Including FAS 141 Adjustments) $ 245,732 $ 860,742 $ 236,463 $ 265,365 $ 373,330 $ 34,644 $ - $ 2,016,276 $ 227,182 Less: Accumulated Depreciation (38,565) (15,469) (35,359) (22,832) (261) (802) - (113,288) (14,398) Net Real Estate 207, , , , ,069 33,842-1,902, ,784 Other Assets 12,891 21,441 37,369 7,549 5,711 5, ,773 10,099 Total Assets $ 220,058 $ 866,714 $ 238,473 $ 250,082 $ 378,780 $ 38,852 $ 802 $ 1,993,761 $ 222,883 Unsecured Debt $ - $ 608,233 $ 211,044 $ - $ 263,216 $ 23,409 $ 1,783 $ 1,107,685 $ 110,769 Secured Debt 174, , ,468 53,920 Other Liabilities 1,911 19,089 6,396 1,943 22, ,141 5,506 Equity 43, ,392 21,033 63,538 93,306 14,449 (1,531) 473,467 52,688 Total Liabilities and Equity $ 220,058 $ 866,714 $ 238,473 $ 250,082 $ 378,780 $ 38,852 $ 802 $ 1,993,761 $ 222,883 Debt Maturity: 2009 $ 33,490 $ 228,856 $ 109,743 $ 529 $ 81,794 $ - $ 796 $ 455,208 $ 47, , ,000-1, ,363 32, ,415 85,510 2,010 75,422 23, ,421 34, , , , ,071 27,962 15,791 2, , ,698 15,554 Thereafter 54, , ,979 34,497 Total $ 174,867 $ 608,233 $ 211,044 $ 184,601 $ 263,216 $ 23,409 $ 1,783 $ 1,467,153 $ 164,689 (1) The Company recorded distributions in excess of its investment of $1,301 in the 2005 Core JV to FFO from Joint Ventures. The Company did not recognize in FFO from Joint Ventures $86 related to one property in the 2006 Net Lease JV as the income amount was required to be offset against past losses not recognized. The 2006 Net Lease JV column includes financial information for properties in which the Company owns a 15% interest and excludes financial information for properties (approximately $197.6 million of total assets at 31, 2009) in which the Company owns no equity interest but acts as the asset and property manager. First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 30

31 Joint Venture Property Information Development/Repositioning Core Net Lease 2005 JV 2006 JV 2005 JV 2006 JV 2003 JV 2007 Canada JV Total Buildings Develop. Land Buildings Develop. Land Buildings Buildings Buildings Buildings Develop. Land Buildings Develop. Land (square feet) (acres) (acres) (square feet) (square feet) (square feet) (square feet) (acres) (square feet) (acres) Atlanta 1,567, , , , ,315, Baltimore/Washington D.C. 345, , ,041, Calgary Central Pennsylvania , , ,003 - Chicago 1,507, ,616, ,123, Cincinnati , ,156 - Cleveland ,587, ,587,952 - Columbus , ,578 - Dallas/Ft. Worth 60, , ,278, ,098, Detroit 49, , , Houston 980, , ,644, Indianapolis , ,221 - Miami 156, , Milwaukee 184, , ,364 - Minneapolis/St. Paul 944, , , ,537, Nashville 149, , ,298 - Phoenix S. California (See Note Below) 600, , ,827 1,580 Salt Lake City 661, , ,078, San Francisco 485, , ,250, Seattle 198, , St. Louis Tampa 689, , Toronto , ,061 - Other , , ,800 - Total Square Feet or Acres 8,580,804 2, ,922 2,742 3,858,956 5,033,984 5,087, , ,511,497 4,916 Square Feet or Acres as % of Total Portfolio Atlanta 18.3% 0.0% 0.0% 5.0% 15.3% 8.0% 14.9% 0.0% 0.0% Baltimore/Washington D.C. 4.0% 1.8% 0.0% 0.0% 0.0% 13.8% 0.0% 0.0% 0.0% Calgary 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 100.0% Central Pennsylvania 0.0% 0.0% 0.0% 0.0% 0.0% 10.1% 7.7% 0.0% 0.0% Chicago 17.6% 0.9% 0.0% 7.7% 0.0% 0.0% 31.8% 0.0% 0.0% Cincinnati 0.0% 0.0% 0.0% 0.0% 10.2% 0.0% 0.0% 0.0% 0.0% Cleveland 0.0% 0.0% 0.0% 0.0% 41.1% 0.0% 0.0% 0.0% 0.0% Columbus 0.0% 0.0% 0.0% 0.0% 15.8% 0.0% 0.0% 0.0% 0.0% Dallas/Ft. Worth 0.7% 0.0% 100.0% 10.8% 0.0% 25.4% 0.0% 0.0% 0.0% Detroit 0.6% 1.0% 0.0% 0.0% 0.0% 0.0% 4.0% 0.0% 0.0% Houston 11.4% 14.3% 0.0% 0.0% 0.0% 0.0% 13.0% 0.0% 0.0% Indianapolis 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 14.6% 0.0% 0.0% Miami 1.8% 0.0% 0.0% 18.3% 0.0% 0.0% 0.0% 0.0% 0.0% Milwaukee 2.1% 0.0% 0.0% 0.0% 0.0% 5.3% 0.0% 0.0% 0.0% Minneapolis/St. Paul 11.0% 2.4% 0.0% 0.0% 3.1% 9.4% 0.0% 0.0% 0.0% Nashville 1.7% 0.0% 0.0% 0.0% 14.4% 0.0% 0.0% 0.0% 0.0% Phoenix 0.0% 24.1% 0.0% 15.5% 0.0% 0.0% 0.0% 0.0% 0.0% S. California (See Note Below) 7.0% 30.5% 0.0% 34.2% 0.0% 0.0% 2.6% 0.0% 0.0% Salt Lake City 7.7% 6.4% 0.0% 0.0% 0.0% 8.3% 0.0% 0.0% 0.0% San Francisco 5.7% 2.8% 0.0% 0.0% 0.0% 15.2% 0.0% 0.0% 0.0% Seattle 2.3% 0.9% 0.0% 8.5% 0.0% 0.0% 0.0% 0.0% 0.0% St. Louis 0.0% 4.7% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Tampa 8.0% 10.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Toronto 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 100.0% 0.0% Other 0.0% 0.0% 0.0% 0.0% 0.0% 4.6% 11.5% 0.0% 0.0% Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% General Notes: Excludes JV properties under development, which are listed on page 37. The 2006 Net Lease JV column includes buildings which the Company owns a 15% interest, and excludes building information for properties (1,586,558 square feet at 31, 2009) in which the Company owns no equity interest, but acts as asset and property manager. Excludes approximately 28 acres of developable land in the 2005 Core JV. Southern California includes the Inland Empire, Los Angeles, Orange County and San Diego. First Quarter 2009 Supplemental of First Industrial Realty Trust, Inc. Page 31