Company: FR
Filing Date: 2025-10-17
Form Type: 10-Q
Source: 0000921825-25-000107
Chunk: 72

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-10-17
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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 from same store properties increased $4.1 million due to real estate taxes and repairs and maintenance. Property expenses from acquired properties increased $1.1 million due to properties acquired subsequent to December 31, 2023. Property expenses from sold properties decreased $1.9 million due to properties sold subsequent to December 31, 2023. Property expenses from (re)developments increased $2.3 million primarily due to the substantial completion of developments. Property expenses from other remained relatively unchanged. 

General and administrative expense increased by $2.3 million, or 7.3%, primarily due to an increase in compensation and  legal expenses during the nine months ended September 30, 2025. 

Joint Venture development services expense, representing payments made to a third party for property development assistance within the Joint Venture, decreased by $0.5 million, or 47.9%. This decline is attributed to a reduction in development activities by our Joint Venture during the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024.

36

Nine Months Ended September 30, 20252024$ Change% Change ($ in 000's)DEPRECIATION AND OTHER AMORTIZATIONSame Store Properties$118,627 $117,350 $1,277 1.1 %Acquired Properties5,243 209 5,034 2,408.6 %Sold Properties60 1,515 (1,455)(96.0)%(Re)Developments11,577 7,521 4,056 53.9 %Corporate Furniture, Fixtures and Equipment and Other1,202 1,787 (585)(32.7)%Total Depreciation and Other Amortization$136,709 $128,382 $8,327 6.5 %

Depreciation and other amortization from same store properties remained relatively unchanged. Depreciation and other amortization from acquired properties increased $5.0 million due to properties acquired subsequent to December 31, 2023. Depreciation and other amortization from sold properties decreased $1.5 million due to properties sold subsequent to December 31, 2023. Depreciation and other amortization from (re)developments increased $4.1 million primarily due to an increase in depreciation and amortization related to completed developments. Depreciation from corporate furniture, fixtures and equipment and