First Industrial Realty Trust Acquires 134 Acres in the Orlando Market for Future Development

CHICAGO, IL, PRNewswire-FirstCall/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading provider of industrial real estate supply chain solutions, has acquired 134 acres of land for future development just outside of Orlando, FL.

(Top left photo is a new gated community, Cascades at Groveland. Photo at right is Robert Krueger, regional director for First Industrial).

The acquisition and future development of the site, known as "First Park Groveland," will be completed through First Industrial's Development and Repositioning Joint Venture with the California State Teachers' Retirement System (CalSTRS), the second-largest public pension fund in the U.S. with a $175 billion portfolio.

First Park Groveland is located northwest of Orlando, adjacent to the Christopher C. Ford Commerce Park developed by Lake County. The site features frontage on U.S. Highway 27, a major connection between Orlando and Interstate 75, as well as O'Brien Road and American Way. Initial plans for First Park Groveland include expanding the infrastructure and utilities as well as preparing the site for vertical development.

Future development plans include build-to-suit and speculative facilities or select land parcel sales to strategic corporate customers."First Park Groveland will be able to provide supply chain solutions for a variety of our corporate customers' needs due to access to the local transportation network," said Robert Krueger (photo top right), regional director for First Industrial. "In addition, the site features a range of industrial zoning, so the parcel can accommodate multiple facility types."

First Industrial would like to thank David Murphy and Kevin Hoover of CB Richard Ellis for their assistance on the transaction.

First Industrial currently owns, manages and has under construction 2.2 million square feet of industrial space and approximately 296 acres of developable land in Central Florida. Current development projects in Central Florida include a 400,000 square foot distribution center at First Park Bridgewater outside of Tampa.

For more information, please visit us at http://www.firstindustrial.com/.

CONTACT:

Sean O'Neill, SVP,
Investor Relations and Corporate, Communications,
+1-312-344-4401, or

Art Harmon, Director,
Investor Relations and Corporate Communications,
both of First Industrial RealtyTrust, Inc.
aharmon@firstindustrial.com
+1-312-344-4320,

Web site:

http://www.firstindustrial.com/