Company: FR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000921825-25-000019
Chunk: 726

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 16
Chunk 726
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Depreciation is computed based upon the following estimated lives:Buildings and Improvements3 to 50 yearsLand Improvements4 to 25 yearsTenant Improvements, Leasehold ImprovementsShorter of Useful Life or Terms of Related Lease  At December 31, 2024, the aggregate cost of land and buildings and equipment, excluding construction in progress, for federal income tax purpose was approximately $5.4 billion.The changes in investment in real estate for the three years ended December 31, are as follows:  202420232022 (In thousands)Balance, Beginning of Year$5,714,080 $5,343,039 $4,646,444 Acquisition of Real Estate Assets78,123 133,936 312,841 Construction Costs and Improvements165,320 300,226 496,190 Disposition of Real Estate Assets(85,335)(44,665)(90,762)Write-off of Fully Depreciated and Other Assets(17,232)(18,456)(21,674)Balance, End of Year Including Real Estate Held for Sale$5,854,956 $5,714,080 $5,343,039 Real Estate Held for Sale (A)(8,564)— — Balance, End of Year Excluding Real Estate Held for Sale$5,846,392 $5,714,080 $5,343,039 

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The changes in accumulated depreciation for the three years ended December 31, are as follows:  202420232022 (In thousands)Balance, Beginning of Year$1,009,335 $921,480 $868,296 Depreciation for Year139,202 130,427 119,477 Disposition of Real Estate Assets(41,140)(24,215)(45,246)Write-off of Fully Depreciated and Other Assets(17,600)(18,357)(21,047)Balance, End of Year Including Real Estate Held for Sale$1,089,797 $1,009,335 $921,480 Real Estate Held for Sale (B)(4,089)— — Balance, End of Year Excluding Real Estate Held for Sale$1,085,708 $1,009,335 $921,480 (A) The Real Estate Held for Sale at December 31, 2024 excludes $167 of other assets.(B) The