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First Industrial Realty Trust history
First Industrial Realty Trust company history timeline
When FIRT completed its IPO in June 1994 it owned 226 industrial properties containing 17.4 million square feet of gross leasable area located in nine cities.
Since our founding in 1994, our buildings have been home to a range of Fortune 500 companies to small commercial firms.
Revenues increased to $210.4 million in 1997, with net income approaching $52 million.
One FIRT executive told the Wall Street Journal that the period between May and September 1998 was "like the Bataan death march." Tomasz was forced to conduct constant road shows in order to convince analysts, rating agencies, and shareholders that FIRT had a bright future.
REITs had enjoyed a strong run, but in 1998 the bubble burst and the price of REIT stocks plummeted.
In 1999 FIRT began adopting a strategy of concentrating on the top 25 industrial real estate markets in the United States in an effort to take advantage of the rising demand of the e-commerce and supply chain management industries.
In 2002 it established an Institutional Fund with the Kuwait Financial House, a global investor with more than $8 billion in assets, to acquire industrial properties in the United States.
In 2003 FIRT expanded its relationship with the Kuwait Financial House, creating a $25 million fund to target the acquisition of net lease industrial properties in the United States.
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First Industrial Realty Trust competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| BioMed Realty | - | $679.2M | 200 | 10 |
| Federal Realty Investment Trust | 1962 | $1.2B | 313 | 14 |
| Kimco Realty | 1958 | $2.0B | 484 | 26 |
| Realty Income | 1969 | $2.1B | 194 | 5 |
| Mack-Cali Realty | 1997 | $350.0M | 283 | - |
| Duke Realty | 1972 | $1.1B | 200 | - |
| EastGroup Properties, Inc. | - | $640.2M | 72 | 4 |
| PS Business Parks | 1990 | $174.2M | 155 | - |
| Brixmor Property Group | 2003 | $1.3B | 477 | 12 |
| Highwoods Properties | 1978 | $736.9M | 200 | 13 |
First Industrial Realty Trust history FAQs
Zippia gives an in-depth look into the details of First Industrial Realty Trust, including salaries, political affiliations, employee data, and more, in order to inform job seekers about First Industrial Realty Trust. The employee data is based on information from people who have self-reported their past or current employments at First Industrial Realty Trust. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by First Industrial Realty Trust. The data presented on this page does not represent the view of First Industrial Realty Trust and its employees or that of Zippia.
First Industrial Realty Trust may also be known as or be related to FIRST INDUSTRIAL REALTY TRUST INC, First Industrial Realty Trust and First Industrial Realty Trust, Inc.