Company: FR
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0000921825-25-000074
Chunk: 72

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-07-17
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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9 million for the three months ended June 30, 2025 and 2024, respectively. 

For the three months ended June 30, 2025 and 2024, the average daily occupancy rate of our same store properties was 94.7% and 95.5%, respectively.

Three Months Ended June 30, 20252024$ Change% Change ($ in 000's)REVENUESSame Store Properties$163,663 $154,521 $9,142 5.9 %Acquired Properties3,382 11 3,371 30,645.5 %Sold Properties— 4,363 (4,363)(100.0)%(Re)Developments9,475 2,330 7,145 306.7 %Other3,643 2,911 732 25.1 %Total Revenues$180,163 $164,136 $16,027 9.8 %

Revenues from same store properties increased $9.1 million primarily due to increases in rental rates, partially offset by a slight decrease in occupancy. Revenues from acquired properties increased $3.4 million due to the seven industrial properties acquired subsequent to December 31, 2023 totaling approximately 1.1 million square feet of GLA. Revenues from sold properties decreased $4.4 million due to the 25 industrial properties sold subsequent to December 31, 2023 totaling approximately 1.3 million square feet of GLA. Revenues from (re)developments increased $7.1 million primarily due to an increase in occupancy. Revenues from other increased $0.7 million primarily due to proceeds from a lawsuit settlement, partially offset by a decrease in joint venture fees.

Three Months Ended June 30, 20252024$ Change% Change ($ in 000's)PROPERTY EXPENSESSame Store Properties$39,047 $37,437 $1,610 4.3 %Acquired Properties516 — 516 — Sold Properties1 658 (657)(99.8)%(Re)Developments2,569 1,586 983 62.0 %Other3,321 3,370 (49)(1.5)%Total Property Expenses$45,454 $43,051 $2,403 5.6 %

Property expenses include real