<PAGE>

                                                              EXHIBIT 10.1

January 9, 1997


Mr. Gregory D. Skirving 
740 MacLean Avenue
Kenilworth, IL 60043

Re:  Employment Offer

Dear Greg:

On behalf of the Board of Directors of Meridian Industrial Trust, Inc. 
("MIT"), I am pleased to hereby extend to you an offer of employment with 
MIT.  The terms of employment, including your position with MIT and your 
initial salary, bonus, and other benefits, are set forth on Exhibit A 
attached hereto.  Additionally, the initial job description which we have 
agreed upon for you is attached as Exhibit B.

Your employment with MIT will begin on January 15, 1997.  You will be an 
"employee at will" and have the right to leave the employment of MIT at any 
time.  Likewise, MIT will have the right to terminate your employment at any 
time for any reason.

POSITION AND DUTIES.  MIT agrees to employ you, initially in the position of 
National Marketing Director and you agree to accept such employment.  You 
agree to perform such services and to perform them in such job positions and 
during such hours as are designated for you by MIT.  You agree to at all 
times abide by the policies, procedures and directions of MIT.

COMPENSATION.  MIT agrees to initially pay you a starting annual base salary 
of $130,000.00.  MIT may adjust that salary from time to time in its sole 
discretion in view of changes in your job duties and responsibilities, your 
job performance, the company's financial performance, and other similar 
business factors.  You will also be entitled to participate in such benefit 
plans, including medical insurance, vacation and other benefits as are 
generally offered to other similarly situated employees of MIT.  In addition, 
you will be entitled to participate in MIT's 1997 bonus plan; your potential 
bonus under that plan would range from $0 to $130,000.00.  The terms for that 
plan are as follows:

     1.   INCENTIVE COMPENSATION:  Your targeted annual cash bonus is
          $130,000.00 or 100% of annual salary as a maximum.  The bonus shall
          be discretionary, based upon performance objectives as defined by the
          Chief Executive Officer (30% of the maximum) and performance 
          standards (see attached Exhibit A - 70% of maximum).  The 
          incentive compensation plan will be reviewed annually by the Board 
          of Directors to assure its effectiveness in meeting the Company's 
          objectives and properly compensating employees.

<PAGE>
Page-2

     2.   STOCK OPTIONS:  25,000 options to purchase MIT shares which will be
          granted at the closing price of MIT stock on the first day of your
          employment.  The options will be granted, vested and otherwise 
          subject to the terms of the Option Agreement, a copy of which will be
          separately delivered to you.

CONFIDENTIALITY.  You acknowledge that as a result of the training and 
knowledge you will receive from MIT and the relationship of trust and 
confidence between the parties, you will come into possession of certain 
confidential information pertaining to MIT's business and operations. For 
purposes of this letter agreement, "confidential information" includes all 
information pertaining to MIT or its clients, customers, suppliers, agents, 
or vendors that has actual or potential economic value, is not generally 
known to the public, and could not be discovered by the general public 
through the exercise of ordinary diligence. Such information includes, but is 
not limited to, documents and information regarding personnel, products, 
customers, pricing, terms of sale, research and development, finances, 
business plans, customer lists, business opportunities, marketing strategy, 
and any similar items relating to the business of MIT.  You agree that you 
will not, either during your employment with MIT or thereafter, disclose any 
confidential information to any third party, except with the express approval 
of MIT's President or his designee.

RETURN OF COMPANY PROPERTY INCLUDING CONFIDENTIAL MATERIALS.  Upon the 
cessation of your employment, you agree to immediately surrender and deliver 
to MIT all company property, including without limitation all documents, 
records, materials, equipment, drawings, and other data, whether maintained 
in computerized form or otherwise, pertaining to any trade secrets or other 
confidential or proprietary information.

ENTIRE AGREEMENT.  This letter agreement constitutes the sole and entire 
agreement between the parties concerning your employment and supersedes any 
and all other agreements between you and MIT, whether oral or written, 
implied or expressed.  You acknowledge that while your salary, benefits, job 
title, and job duties may change from time to time without a written 
modification of this letter agreement, any such changes will not affect the 
validity of this letter agreement or the termination provisions contained in 
this agreement.  Any modification to this letter agreement will be effective 
only if it is a written modification that expressly refers to this letter 
agreement and is signed by you and an authorized representative of MIT.  

SEVERABILITY.  If any provision of this letter agreement is held void or 
unenforceable for any reason, that provision shall be severed from the 
agreement, and all remaining provisions shall be valid and fully enforceable.

<PAGE>
Page-3

LIFE INSURANCE:  MIT's current plan as it may be amended from time to time. 
(Information to be furnished upon acceptance).

HEALTH INSURANCE.  MIT's current plan as it may be amended from time to time. 
(Information to be furnished upon acceptance).

ANNUAL VACATION.  You will be entitled to three weeks vacation, subject to
supervisor approval, in accordance with company policy.

GOVERNING LAW.  This letter agreement shall be construed, applied, and 
interpreted in accordance with he laws of the State of California. 

We ask that you indicate your acceptance of this offer on or before January 
14, 1997, by signing in the space provided below and returning the enclosed 
copy of this letter to me before then.

MERIDIAN INDUSTRIAL TRUST, INC.

By:
    -------------------------------------                           
     Allen J. Anderson
     Chairman and Chief Executive Officer


AGREED TO AND ACCEPTED:

                         
---------------------------------
Gregory D. Skirving
Date:
     ----------------------------                         

<PAGE>
Page-4

                                  EXHIBIT A


                           MERIDIAN INDUSTRIAL TRUST

                        EXECUTIVE COMPENSATION PROGRAM

                        PERFORMANCE BENCHMARK SUMMARY

MIT wishes to reward its management team with an annual cash bonus award for 
superior performance.  Our philosophy is that we pay competitive base 
salaries to achieve above average performance and incentive compensation is 
paid to reward superior performance.  A range of incentive opportunities has 
been developed including threshold, target and maximum earning levels.  The 
program is designed to deliver median total annual compensation at target 
levels of performance and upper quartile compensation as maximum performance 
levels are reached.  It should be noted that performance measures and 
standards and their allocation will be reviewed on an annual basis by the 
Board of Directors.

                            INCENTIVE COMPENSATION

Currently, MIT has an Incentive Compensation program which shall be 
determined on a basis which is 30% discretionary and 70% benchmarked to 
performance standards.  Performance standards, which will be agreed upon as 
soon as possible, may include two equally weighted components, new business 
generated and prospect calls made during the calendar year.

DISCRETIONARY AWARDS
<PAGE>
Page-5

Subjective cash bonuses will be awarded in the sole discretion of the board 
of directors.  Measures such as achieving  individual goals, contribution to 
the team effort and other non-quantifiable, positive contributions to the 
Company will be considered in making these awards.


BENCHMARKED PERFORMANCE

The following parameters and weighting will apply in determining the annual
bonus award:


PERFORMANCE MEASURES



Bonus Level                  New Business        Prospect Calls

Threshold (discretionary)    To Be Determined    To Be Determined


Target (50% of maximum)      To Be Determined    To Be Determined


Maximum (100% of maximum)    To Be Determined    To Be Determined

<PAGE>
Page-6

                               Job Description


                          National Marketing Director


DUTIES

Principal responsibility is to represent the Company as an integral team 
member in presentations to meet the distribution space needs of current and 
prospective tenants.   It is contemplated that the Company will have two or 
more National Marketing Directors (NMD's) who will also coordinate their 
efforts on a regional basis. The incumbents will have primary responsibility 
for the successful direction and execution of marketing duties as described 
herein. This position requires significant travel and new prospect calls in 
addition to management duties.

The NMD's will take primary responsibility to initiate contact with 
prospective tenants, develop relationships with key real estate decision 
makers in Fortune 1000 companies and work closely with asset managers with 
regard to existing tenants.   In this context, meeting the distribution space 
needs of prospective and existing tenants includes making them aware of  
existing space inventory owned by the Company, soliciting RFP's and direct 
opportunities for build to suit transactions and acquiring excess property 
from prospects and tenants as part of an expanded relationship. 

Once an opportunity is identified, the NMD's will work closely with asset 
managers, acquisition officers, investor relations manager and senior real 
estate personnel to develop professional, competitive proposals and marketing 
materials which are designed to position the Company as the "premier 
industrial property company" in the United States. The NMD's will enlist 
those team members as needed to assure that proposals and presentations are 
accurate, thorough and up to date documents which meet the Company's high 
standards. The NMD's will have primary responsibility for the presentation of 
all marketing materials and responses to RFP's. 

The NMD's will develop an annual marketing plan which is consistent with the 
Company's  objectives and includes specific objectives for  (i) new business 
development, (ii) a budget for marketing materials, (iii) a budget for travel 
and entertainment, (iv) a plan for coordinating activity within the Company, 
(v) a targeted list of new prospects, and (vi) a targeted list of other 
industry participants ( consultants, industrial engineers, warehousing firms 
etc.) which will be regularly contacted to prospect for opportunity. 

<PAGE>
Page-7

NMD's are expected to represent the Company through active participation  in 
industry trade organizations such as CLM, IDRC, WREC, NACORE, etc. and 
local/regional industrial property organizations.

REPORTING 

The position reports directly to the CEO.  However, close coordination is 
required with real estate staff and regional office managers to assure 
teamwork and continuity. On a monthly basis, the NMD's will report on 
marketing efforts and competitive positioning to the Company's senior 
management team.