Company: FR
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0000921825-25-000074
Chunk: 9

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-07-17
Form: 10-Q
Item: Part I, Item 2
Chunk 9
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 30, 2024.

34

Six Months Ended June 30, 20252024$ Change% Change ($ in 000's)DEPRECIATION AND OTHER AMORTIZATIONSame Store Properties$79,550 $78,464 $1,086 1.4 %Acquired Properties3,128 — 3,128 — Sold Properties8 1,288 (1,280)(99.4)%(Re)Developments7,440 3,831 3,609 94.2 %Corporate Furniture, Fixtures and Equipment and Other835 1,284 (449)(35.0)%Total Depreciation and Other Amortization$90,961 $84,867 $6,094 7.2 %

Depreciation and other amortization from same store properties remained relatively unchanged. Depreciation and other amortization from acquired properties increased $3.1 million due to properties acquired subsequent to December 31, 2023. Depreciation and other amortization from sold properties decreased $1.3 million due to properties sold subsequent to December 31, 2023. Depreciation and other amortization from (re)developments increased $3.6 million primarily due to an increase in depreciation and amortization related to completed developments. Depreciation from corporate furniture, fixtures and equipment and other decreased $0.4 million as certain improvements on land parcels, for which our ultimate intent is to redevelop or develop, became fully depreciated. 

For the six months ended June 30, 2025, we recognized $8.0 million of gain on sale of real estate related to the sale of three industrial properties totaling approximately 0.1 million square feet of GLA. For the six months ended June 30, 2024, we recognized $37.0 million of gain on sale of real estate related to the sale of 10 industrial properties totaling approximately 0.5 million square feet of GLA.

Interest expense decreased by $0.8 million, or 2.0%, primarily due to an increase of $1.1 million in capitalized interest during the six months ended June 30, 2025 as compared to the six months ended June 30, 2024 and a decrease in the weighted average interest rate to 4.07% for the six months ended June 30, 2025 as compared to 4.17% for the