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Document and Entity Information
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3 Months Ended | |
|---|---|---|
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Mar. 31, 2014
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May 05, 2014
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| Entity Information [Line Items] | ||
| Entity Registrant Name | FIRST INDUSTRIAL REALTY TRUST INC | |
| Entity Central Index Key | 0000921825 | |
| Trading Symbol | FR | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Document Type | 10-Q | |
| Document Period End Date | Mar. 31, 2014 | |
| Document Fiscal Year Focus | 2014 | |
| Document Fiscal Period Focus | Q1 | |
| Entity Current Reporting Status | Yes | |
| Amendment Flag | false | |
| Entity Common Stock, Shares Outstanding | 110,133,669 |
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Details
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
For an unclassified balance sheet, the amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount as of the balance sheet date by which cumulative distributions to shareholders (or partners) exceed retained earnings (or accumulated earnings). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Refundable consideration, usually cash, held by the entity pending satisfactory completion of the entity's obligations or pending the closing of a contract. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property, by the lessor or lessee, respectively. Such receivable is reduced by allowances attributable to, for instance, credit risk associated with a lessee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current amount of expenditures for a real estate project that has not yet been completed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate of the carrying amounts as of the balance sheet date of investments in building and building improvements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount before accumulated depletion of real estate held for productive use, excluding land held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents a liability associated with the acquisition of an off-market lease when the terms of the lease are unfavorable to the market terms for the lease at the date of acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Including both current and noncurrent portions, carrying amount as of the balance sheet date of other forms of debt not elsewhere specified in the taxonomy with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets. No definition available.
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| X | ||||||||||
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- Definition
The cumulative amount of depreciation for real estate property held for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
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Mar. 31, 2014
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Dec. 31, 2013
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|---|---|---|
| Common Stock, Par Value | $ 0.01 | $ 0.01 |
| Common Stock, Shares Authorized | 150,000,000 | 150,000,000 |
| Common Stock, Shares Issued | 114,457,682 | 114,304,964 |
| Common Stock, Shares Outstanding | 110,133,568 | 109,980,850 |
| Treasury Shares at Cost | 4,324,114 | 4,324,114 |
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- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | |
|---|---|---|
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Mar. 31, 2014
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Mar. 31, 2013
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|
| Revenues: | ||
| Rental Income | $ 63,953 | $ 61,747 |
| Tenant Recoveries and Other Income | 22,215 | 18,877 |
| Total Revenues | 86,168 | 80,624 |
| Expenses: | ||
| Property Expenses | 31,314 | 26,658 |
| General and Administrative | 5,556 | 6,463 |
| Depreciation and Other Amortization | 28,772 | 26,304 |
| Total Expenses | 65,642 | 59,425 |
| Other Income (Expense): | ||
| Interest Income | 702 | 563 |
| Interest Expense | (19,046) | (18,963) |
| Amortization of Deferred Financing Costs | (804) | (854) |
| Mark-to-Market Loss on Interest Rate Protection Agreements | 0 | (4) |
| Loss from Retirement of Debt | 0 | (1,150) |
| Total Other Income (Expense) | (19,148) | (20,408) |
| Income from Continuing Operations Before Equity in Income of Joint Ventures and Income Tax (Provision) Benefit | 1,378 | 791 |
| Equity in Income of Joint Ventures | 2,966 | 20 |
| Income Tax (Provision) Benefit | (10) | 62 |
| Income from Continuing Operations | 4,334 | 873 |
| Discontinued Operations: | ||
| (Loss) Income Attributable to Discontinued Operations | (2) | 816 |
| Gain (Loss) on Sale of Real Estate | 735 | (3,074) |
| Income (Loss) from Discontinued Operations | 733 | (2,258) |
| Income (Loss) Before Gain on Sale of Real Estate | 5,067 | (1,385) |
| Gain on Sale of Real Estate | 0 | 262 |
| Net Income (Loss) | 5,067 | (1,123) |
| Less: Net (Income) Loss Attributable to the Noncontrolling Interest | (104) | 220 |
| Net Income (Loss) Attributable to First Industrial Realty Trust, Inc. | 4,963 | (903) |
| Less: Preferred Dividends | (1,019) | (3,837) |
| Less: Redemption of Preferred Stock | (1,462) | 0 |
| Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities | $ 2,482 | $ (4,740) |
| Basic and Diluted Earnings Per Share: | ||
| Income (Loss) from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ 0.02 | $ (0.03) |
| Income (Loss) from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders | $ 0.00 | $ (0.02) |
| Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ 0.02 | $ (0.05) |
| Distributions Per Share | $ 0.1025 | $ 0.085 |
| Weighted Average Shares Outstanding - Basic | 109,676 | 100,774 |
| Weighted Average Shares Outstanding - Diluted | 110,215 | 100,774 |
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- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the total of the costs related to real estate revenues, including management, leasing, and development services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of expense incurred and directly related to generating revenue from leased and rented property or equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of gain (loss), before tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Pretax income (loss) from operations of a business component (exclusive of any gain (loss) on disposal, or provision therefore) during the reporting period, until its disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
This element represents the amount of gain (loss) on sale of properties during the reporting period gross of the applicable income taxes realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element is for Real Estate Investment Trust (REIT) statement of income purposes. It represents the income or loss from operations, both continuing and discontinued, before the effects of extraordinary items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares. No definition available.
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| X | ||||||||||
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- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Per basic and diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation, when the per share amount is the same. No definition available.
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| X | ||||||||||
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- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The total amount of lease revenue recognized for the period for which the lessee was obligated under leasing arrangements regardless of any other events or conditions. This amount excludes contingent revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
|
| X | ||||||||||
|
- Definition
The excess of (1) fair value of the consideration transferred to the holders of the preferred stock over (2) the carrying amount of the preferred stock in the registrant's balance sheet, during the accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
In accordance with the provisions of their lease agreement, this element represents allowable charges due a landlord from its tenant. In retail store and office building leases, for example, tenant reimbursements may cover items such as taxes, utilities, and common area expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2014
|
Mar. 31, 2013
|
|
| Net Income (Loss) | $ 5,067 | $ (1,123) |
| Mark-to-Market Loss on Interest Rate Protection Agreements | (1,604) | 0 |
| Amortization of Interest Rate Protection Agreements | 628 | 585 |
| Write-off of Unamortized Settlement Amounts of Interest Rate Protection Agreements | 0 | 183 |
| Foreign Currency Translation Adjustment | (50) | 2 |
| Comprehensive Income (Loss) | 4,041 | (353) |
| Comprehensive (Income) Loss Attributable to Noncontrolling Interest | (63) | 186 |
| Comprehensive Income (Loss) Attributable to First Industrial Realty Trust, Inc. | $ 3,978 | $ (167) |
| X | ||||||||||
|
- Definition
In connection with debt repurchases prior to maturity, the accelerated write off of the unamortized settlement amount of the related interest rate protection agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of (increase) decrease in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effective portion of loss reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS EQUITY (USD $)
In Thousands, unless otherwise specified |
Total
|
Preferred Stock
|
Common Stock
|
Additional Paid-in Capital
|
Distributions in Excess of Accumulated Earnings
|
Accumulated Other Comprehensive Loss
|
Treasury Shares At Cost
|
Noncontrolling Interest
|
|---|---|---|---|---|---|---|---|---|
| Balance at Dec. 31, 2013 | $ 1,171,219 | $ 0 | $ 1,143 | $ 1,938,886 | $ (669,896) | $ (3,265) | $ (140,018) | $ 44,369 |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
| Redemption of Preferred Stock | (75,049) | (73,587) | (1,462) | |||||
| Stock Based Compensation Activity | 130 | 1 | 478 | (349) | ||||
| Conversion of Units to Common Stock | 0 | 1 | 1,278 | (1,279) | ||||
| Reallocation—Additional Paid in Capital | 0 | (48) | 48 | |||||
| Common Stock and Unit Distributions | (11,824) | (11,366) | (458) | |||||
| Preferred Dividends | (1,019) | (1,019) | ||||||
| Net Income | 5,067 | 4,963 | 104 | |||||
| Reallocation—Other Comprehensive Income | 0 | (5) | 5 | |||||
| Other Comprehensive Loss | (1,026) | (985) | (41) | |||||
| Balance at Mar. 31, 2014 | $ 1,087,498 | $ 0 | $ 1,145 | $ 1,867,007 | $ (679,129) | $ (4,255) | $ (140,018) | $ 42,748 |
| X | ||||||||||
|
- Definition
Amount of paid and unpaid common stock dividends declared with the form of settlement in cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of increase in noncontrolling interest from subsidiary issuance of equity interests to noncontrolling interest holders. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of other comprehensive (income) loss attributable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the value of stock bought back by the entity at the exercise price or redemption price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2014
|
Mar. 31, 2013
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net Income (Loss) | $ 5,067 | $ (1,123) |
| Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities: | ||
| Depreciation | 23,059 | 22,548 |
| Amortization of Deferred Financing Costs | 804 | 854 |
| Other Amortization | 7,997 | 8,001 |
| Provision for Bad Debt | 663 | 164 |
| Equity in Income of Joint Ventures | (2,966) | (20) |
| Distributions from Joint Ventures | 962 | 0 |
| (Gain) Loss on Sale of Real Estate | (735) | 2,812 |
| Loss from Retirement of Debt | 0 | 1,150 |
| Mark-to-Market Loss on Interest Rate Protection Agreements | 0 | 4 |
| Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net | (3,878) | (1,675) |
| Decrease (Increase) in Deferred Rent Receivable | 404 | (1,351) |
| Decrease in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits | (8,324) | (10,107) |
| Payments of Premiums, Discounts and Prepayment Penalties Associated with Retirement of Debt | 0 | (856) |
| Cash Book Overdraft | 1,082 | 0 |
| Net Cash Provided by Operating Activities | 24,135 | 20,401 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Acquisitions of Real Estate | (13,262) | (9,745) |
| Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs | (22,869) | (27,060) |
| Net Proceeds from Sales of Investments in Real Estate | 3,244 | 10,670 |
| Contributions to and Investments in Joint Ventures | 0 | (18) |
| Distributions from Joint Ventures | 2,074 | 0 |
| Repayments of Notes Receivable | 17,080 | 152 |
| (Increase) Decrease in Escrows | (123) | 599 |
| Net Cash Used in Investing Activities | (13,856) | (25,402) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Debt and Equity Issuance and Redemption Costs | (2,035) | (98) |
| Proceeds from the Issuance of Common Stock, Net of Underwriter’s Discount | 0 | 132,258 |
| Repurchase and Retirement of Restricted Stock | (1,475) | (2,401) |
| Common Stock and Unit Distributions Paid | (9,740) | 0 |
| Preferred Dividends Paid | (1,471) | (4,289) |
| Redemption of Preferred Stock | (75,000) | 0 |
| Payments on Interest Rate Swap Agreement | 0 | (305) |
| Repayments on Mortgage Loans Payable | (3,197) | (17,774) |
| Repayments of Senior Unsecured Notes | 0 | (3,995) |
| Proceeds from Unsecured Term Loan | 200,000 | 0 |
| Proceeds from Unsecured Credit Facility | 105,000 | 52,000 |
| Repayments on Unsecured Credit Facility | (226,000) | (132,000) |
| Net Cash (Used in) Provided by Financing Activities | (13,918) | 23,396 |
| Net Effect of Exchange Rate Changes on Cash and Cash Equivalents | (30) | (14) |
| Net (Decrease) Increase in Cash and Cash Equivalents | (3,639) | 18,395 |
| Cash and Cash Equivalents, Beginning of Year | 7,577 | 4,938 |
| Cash and Cash Equivalents, End of Year | $ 3,908 | $ 23,319 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents disclosure of the amount of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporation; these investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate amount of assets used to generate operating income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities that result from activities that generate operating income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The change in cash during the period due to the net increase or decrease in outstanding checks, the liability that represents checks that have been issued but that have not cleared. The entity may classify these cash flows as financing or operating activities. Another element, Increase (Decrease) in Outstanding Checks, Financing Activities, represents cash flows from outstanding checks classified as financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The other noncash expense, not otherwise specified in the taxonomy, charged against earnings in the period to allocate the cost of tangible and intangible assets over their remaining economic lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total of the cash outflow during the period which has been paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt and the cost incurred directly for the issuance of equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for derivative instruments during the period, which are classified as financing activities, excluding those designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net cash outflow for the allowance granted to lessee and/or direct costs incurred by lessor used to prepare the leased premises for tenant's occupancy; for costs that are essential to originating the lease and would not otherwise have been incurred without the lease agreement, including but not limited to, evaluating the lessee's credit condition, guarantees, and collateral and costs incurred in negotiating, processing, and executing the lease agreement; and for any commission(s) incurred. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow for reacquisition of callable preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for incremental, external costs directly pertaining to an early extinguishment of debt, including legal costs and prepayment penalties, and excluding interest and repayment of debt principal. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash outflow in the form of ordinary dividends to preferred shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash outflow to satisfy an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the investment in or advances to an entity in which the reporting entity shares control of the entity with another party or group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from the acquisition of a piece of land, anything permanently fixed to it, including buildings, structures on it and so forth; includes real estate intended to generate income for the owner; excludes real estate acquired for use by the owner. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with principal collections from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the sale of an investment interest in a joint venture that the reporting entity has not previously accounted for using consolidation or the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from other long-term borrowings not otherwise defined in the taxonomy (with maturities initially due beyond one year or the normal operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the sale of formerly productive land held for sale, anything permanently fixed to it, including buildings, structures on it, and so forth. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the settlement of obligation drawn from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to repay long-term debt that is not secured by collateral. Excludes repayments of tax exempt unsecured debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Difference between actual rental income due and rental income recognized on a straight-line basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Organization and Formation of Company
|
3 Months Ended |
|---|---|
|
Mar. 31, 2014
|
|
| Disclosure Organization And Formation Of Company Additional Information [Abstract] | |
| Organization and Formation of Company | 1. Organization and Formation of Company First Industrial Realty Trust, Inc. (the "Company") was organized in the state of Maryland on August 10, 1993. The Company is a real estate investment trust ("REIT") as defined in the Internal Revenue Code of 1986. Unless the context otherwise requires, the terms "Company," "we," "us" and "our" refer to First Industrial Realty Trust, Inc., First Industrial, L.P. and their respective controlled subsidiaries. We refer to our operating partnership, First Industrial, L.P., as the "Operating Partnership." We began operations on July 1, 1994. Our operations are conducted primarily through the Operating Partnership, of which we are the sole general partner with an approximate 96.1% ownership interest at March 31, 2014, and through our taxable REIT subsidiaries. We also conduct operations through other partnerships (the "Other Real Estate Partnerships") and limited liability companies, the operating data of which, together with that of the Operating Partnership and the taxable REIT subsidiaries, is consolidated with that of the Company as presented herein. First Industrial Realty Trust, Inc. does not have any significant assets or liabilities other than its investment in the Operating Partnership and its 100% ownership interest in the general partner of the Other Real Estate Partnerships. Noncontrolling interest of approximately 3.9% at March 31, 2014 represents the aggregate partnership interest in the Operating Partnership held by the limited partners thereof. We also own noncontrolling equity interests in, and provide various services to, two joint ventures (the "2003 Net Lease Joint Venture" and the "2007 Europe Joint Venture"; collectively, the "Joint Ventures"). At March 31, 2014, the 2003 Net Lease Joint Venture owned two industrial properties comprising approximately 0.9 million square feet of gross leasable area ("GLA") and the 2007 Europe Joint Venture did not own any properties. The Joint Ventures are accounted for under the equity method of accounting. Accordingly, the operating data of our Joint Ventures is not consolidated with that of the Company as presented herein. As of March 31, 2014, we owned 651 industrial properties located in 25 states, containing an aggregate of approximately 63.2 million square feet of GLA. Of the 651 properties owned by the Company on a consolidated basis, none of them are directly owned by First Industrial Realty Trust, Inc. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary of Significant Accounting Policies
|
3 Months Ended |
|---|---|
|
Mar. 31, 2014
|
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| Accounting Policies [Abstract] | |
| Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the accounting policies described in the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2013 ("2013 Form 10-K") and should be read in conjunction with such consolidated financial statements and related notes. The 2013 year end consolidated balance sheet data included in this Form 10-Q filing was derived from the audited consolidated financial statements in our 2013 Form 10-K, but does not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP"). The following notes to these interim consolidated financial statements highlight significant changes to the notes included in the December 31, 2013 audited consolidated financial statements included in our 2013 Form 10-K and present interim disclosures as required by the Securities and Exchange Commission. In order to conform with GAAP, in preparation of our consolidated financial statements we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of March 31, 2014 and December 31, 2013, and the reported amounts of revenues and expenses for the three months ended March 31, 2014 and 2013. Actual results could differ from those estimates. In our opinion, the accompanying unaudited interim consolidated financial statements reflect all adjustments necessary for a fair statement of our financial position as of March 31, 2014 and December 31, 2013, and the results of our operations and comprehensive income for each of the three months ended March 31, 2014 and 2013, and our cash flows for each of the three months ended March 31, 2014 and 2013, and all adjustments are of a normal recurring nature. Recent Accounting Pronouncements In April 2014, the FASB issued Accounting Standards Update No. 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity" ("ASU 2014-08"). ASU 2014-08 changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. ASU 2014-08 is effective for annual periods beginning on or after December 15, 2014, and interim periods within those annual periods and is to be applied prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. Upon adoption, we anticipate the disposition of properties, as well as the classification of properties held for sale, will generally no longer meet the guidance to be classified as discontinued operations. |
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The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investment in Real Estate
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Mar. 31, 2014
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| Real Estate Investment Property, Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment in Real Estate | 3. Investment in Real Estate Acquisitions During the three months ended March 31, 2014, we acquired one industrial property comprising approximately 0.3 million square feet of GLA. The purchase price of this acquisition totaled approximately $13,400, excluding costs incurred in conjunction with the acquisition of the industrial property. The purchase price was allocated as follows:
Intangible Assets (Liabilities) Subject To Amortization in the Period of Acquisition The fair value at the date of acquisition of in-place leases, tenant relationships and above and below market leases recorded due to the real estate property acquired for the three months ended March 31, 2014, which are recorded as deferred leasing intangibles, are as follows:
The weighted average life recorded at the time of acquisition as a result of the real estate property acquired for the three months ended March 31, 2014 in months of in-place leases and tenant relationships and above and below market leases is as follows:
Sales and Discontinued Operations During the three months ended March 31, 2014, we sold three industrial properties comprising approximately 0.1 million square feet of GLA. Gross proceeds from the sales of the industrial properties were approximately $3,546. The gain on sale of real estate was approximately $735. The three sold industrial properties meet the criteria to be included in discontinued operations. Therefore the results of operations and gain on sale of real estate for the three industrial properties sold are included in discontinued operations. Loss from discontinued operations for the three months ended March 31, 2013 reflects the results of operations of the three industrial properties that were sold during the three months ended March 31, 2014, the results of operations of the 67 industrial properties that were sold during the year ended December 31, 2013 and the net loss on sale of real estate relating to four industrial properties that were sold during the three months ended March 31, 2013. The following table discloses certain information regarding the industrial properties included in our discontinued operations for the three months ended March 31, 2014 and 2013:
At March 31, 2014 and December 31, 2013, we had notes receivable and accrued interest outstanding, issued in connection with sales of industrial properties, of approximately $35,516 and $52,605, net of a discount of $0 and $191, respectively, which are included as a component of prepaid expenses and other assets. At March 31, 2014 and December 31, 2013, the fair value of the notes receivable, including accrued interest, was $37,482 and $53,482, respectively. The fair values of our notes receivable were determined by discounting the future cash flows using the current rates at which similar loans would be made to other borrowers based on similar remaining maturities. The current market rates we utilized were internally estimated; therefore, we have concluded that our determination of fair values of our notes receivable was primarily based upon Level 3 inputs, as discussed hereafter. |
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- Definition
The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Indebtedness
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Mar. 31, 2014
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| Indebtedness | 4. Indebtedness The following table discloses certain information regarding our indebtedness:
* The maturity date may be extended an additional year at our election, subject to certain restrictions. Mortgage Loans Payable, Net As of March 31, 2014, mortgage loans payable are collateralized, and in some instances cross-collateralized, by industrial properties with a net carrying value of $818,391. We believe the Operating Partnership and the Company were in compliance with all covenants relating to mortgage loans payable as of March 31, 2014. Unsecured Term Loan On January 29, 2014, we entered into a seven-year, $200,000 unsecured loan (the "Unsecured Term Loan") with a syndicate of financial institutions. The Unsecured Term Loan requires interest only payments and bears interest at a variable rate based on LIBOR, as defined in the loan agreement, plus a specified spread based on our leverage ratio or credit ratings. We also entered into interest rate swap agreements, with an aggregate notional value of $200,000, to effectively convert the Unsecured Term Loan's LIBOR rate to a fixed rate. See Note 10 for more information on the interest rate swap agreements. Indebtedness The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums and discounts, for the next five years ending March 31, and thereafter:
Our unsecured revolving credit facility (the "Unsecured Credit Facility"), Unsecured Term Loan and the indentures governing our senior unsecured notes contain certain financial covenants, including limitations on incurrence of debt and debt service coverage. Under the Unsecured Credit Facility and Unsecured Term Loan, an event of default can also occur if the lenders, in their good faith judgment, determine that a material adverse change has occurred which could prevent timely repayment or materially impair our ability to perform our obligations under the loan agreements. We believe that the Operating Partnership and the Company were in compliance with all covenants relating to the Unsecured Credit Facility, Unsecured Term Loan and indentures governing our senior unsecured notes as of March 31, 2014. However, these financial covenants are complex and there can be no assurance that these provisions would not be interpreted by our lenders in a manner that could impose and cause us to incur material costs. Fair Value At March 31, 2014 and December 31, 2013, the fair value of our indebtedness was as follows:
The fair values of our mortgage loans payable were determined by discounting the future cash flows using the current rates at which similar loans would be made based upon similar remaining maturities. The current market rates we utilized were internally estimated. The fair value of the senior unsecured debt was determined by using rates, as advised by our bankers in certain cases, that are based upon recent trades within the same series of the senior unsecured debt, recent trades for senior unsecured debt with comparable maturities, recent trades for fixed rate unsecured debt from companies with profiles similar to ours, as well as overall economic conditions. The fair value of the Unsecured Credit Facility and Unsecured Term Loan was determined by discounting the future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining term, assuming no repayment until maturity. We have concluded that our determination of fair value for each of our mortgage loans payable, senior unsecured debt, Unsecured Term Loan and Unsecured Credit Facility was primarily based upon Level 3 inputs, as discussed hereafter. |
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The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stockholders' Equity
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Mar. 31, 2014
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| Stockholders' Equity | 5. Stockholders’ Equity Preferred Stock On March 6, 2014, we redeemed all 50,000 depositary shares, each representing 1/100th of a share, of our 6.236%, Series F Flexible Cumulative Redeemable Preferred Stock, $0.01 par value (the "Series F Preferred Stock"), at a redemption price of $1,000.00 per depositary share, and paid a quarterly dividend of $11.3299 per depositary share, totaling $566. On March 31, 2014, we redeemed all 25,000 depositary shares, each representing 1/100th of a share, of our 7.236%, Series G Flexible Cumulative Redeemable Preferred Stock, $0.01 par value (the "Series G Preferred Stock"), at a redemption price of $1,000.00 per depositary share, and paid a semi-annual dividend of $36.18 per depositary share, totaling $905. The initial offering costs associated with the issuance of the Series F and Series G Preferred Stock, as well as costs associated with the redemptions, totaled $1,462 and are reflected as a deduction from net income in determining earnings per share for the three months ended March 31, 2014. The Company has 10,000,000 shares of preferred stock authorized. At March 31, 2014 and December 31, 2013, the Company has 0 and 750 shares of preferred stock outstanding, respectively. Dividends/Distributions The coupon rate of our Series F Preferred Stock reset every quarter at 2.375% plus the greater of (i) the 30 year Treasury constant maturity treasury ("CMT") Rate, (ii) the 10 year Treasury CMT Rate or (iii) 3-month LIBOR. For the period January 1, 2014 through March 6, 2014 (the redemption date), the coupon rate was 6.275%. The following table summarizes dividends/distributions accrued during the three months ended March 31, 2014:
Shares of Common Stock and Noncontrolling Interest During the three months ended March 31, 2014, 131,844 limited partnership interests in the Operating Partnership ("Units") were converted into an equivalent number of shares of common stock, resulting in a reclassification of $1,279 of noncontrolling interest to First Industrial Realty Trust Inc.’s stockholders’ equity. The following table summarizes the changes in noncontrolling interest for the three months ended March 31, 2014 and 2013:
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The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accumulated Other Comprehensive Loss
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Mar. 31, 2014
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| Accumulated Other Comprehensive Loss | 6. Accumulated Other Comprehensive Loss The following tables summarize the changes in accumulated other comprehensive loss by component for the three months ended March 31, 2014 and the reclassifications out of accumulated other comprehensive loss for the three months ended March 31, 2014 and 2013:
The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in other comprehensive income and is subsequently reclassified to earnings through interest expense over the life of the derivative or over the life of the debt. In the next 12 months, we expect to amortize approximately $860 into net income by increasing interest expense for interest rate protection agreements we settled in previous periods. Additionally, amounts relating to settlement amounts on the Swaps, as defined in Note 10, will also be reclassified to net income. |
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The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Information to Statements of Cash Flows
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Mar. 31, 2014
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| Supplemental Information to Statements of Cash Flows | 7. Supplemental Information to Statements of Cash Flows
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The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Share (EPS)
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Mar. 31, 2014
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| Earnings Per Share (EPS) | 8. Earnings Per Share ("EPS") The computation of basic and diluted EPS is presented below:
Participating securities include 349,331 and 490,591 of unvested restricted stock awards outstanding at March 31, 2014 and 2013, respectively, which participate in non-forfeitable dividends of the Company. Under the two class method, participating security holders are allocated income, in proportion to total weighted average shares outstanding, based upon the greater of net income (after reduction for preferred dividends and redemption of preferred stock) or common dividends declared. The number of weighted average shares—diluted is the same as the number of weighted average shares—basic for the three months ended March 31, 2013, as the effect of the 383,500 restricted stock unit awards outstanding at March 31, 2013 which do not participate in non-forfeitable dividends of the Company was excluded as its inclusion would have been antidilutive to the loss from continuing operations available to First Industrial Realty Trust, Inc.’s common stockholders. Effective July 1, 2013, the Board of Directors granted performance awards ("LTIP Unit Awards") to certain officers and employees. At March 31, 2014, 712,424 LTIP Unit Awards were outstanding and are included in the calculation of diluted EPS. There were 73,400 other outstanding restricted unit awards outstanding at March 31, 2014 that are not included in the calculation of diluted EPS for the three months ended March 31, 2014, as the market condition contained within the restricted unit awards had not been achieved as of March 31, 2014. These restricted unit awards could be dilutive in future periods. |
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock Based Compensation
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Mar. 31, 2014
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| Share-based Compensation [Abstract] | |
| Stock Based Compensation | 9. Stock Based Compensation During the three months ended March 31, 2014, we awarded 115,587 shares of restricted stock awards to certain employees, which had a fair value of $2,064 on the date of approval by the Compensation Committee of the Board of Directors and/or the Board of Directors. These restricted stock awards vest over a period of three years. Compensation expense will be charged to earnings over the vesting period for the shares expected to vest. During the three months ended March 31, 2014, we also awarded 184,218 shares of restricted stock awards to certain members of management, however, these shares are contingent upon obtaining shareholder approval on May 7, 2014. No expense associated with the contingent shares has been recognized for the three months ended March 31, 2014. Once issued, one-third of the contingent shares will vest each year with the last tranche to vest on January 1, 2017 and compensation expense will be charged to earnings over the vesting period for the shares expected to vest except if the recipient is not required to provide future service in exchange for vesting of the share. If vesting of a recipient's restricted stock awards is not contingent upon future service, the expense is recognized immediately at the date of grant. During the three months ended March 31, 2014 and 2013, we recognized $0 and $1,008 of compensation expense related to restricted stock awards granted to our Chief Executive Officer for which future service was not required. During the three months ended March 31, 2014 and 2013, we recognized $1,575 and $1,826 in amortization related to restricted stock and unit awards, of which $19 and $11, respectively, was capitalized in connection with development activities. At March 31, 2014, we had $7,614 in unrecognized compensation related to unvested restricted stock and unit awards. The weighted average period that the unrecognized compensation is expected to be recognized is 0.93 years. |
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The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivatives
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Mar. 31, 2014
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives | 10. Derivatives Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our cash flow volatility and exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. In connection with origination of the Unsecured Term Loan (see Note 4), during January 2014, we entered into four interest rate swaps, with an aggregate notional value of $200,000, to manage our exposure to changes in the one month LIBOR rate (the “Swaps”). The Swaps fix the LIBOR rate at a weighted average rate of 2.29% and mature on January 29, 2021. We designated the Swaps as cash flow hedges. Our agreement with our derivative counterparty contains provisions where if we default on any of our indebtedness, then we could also be declared in default on our derivative obligations subject to certain thresholds. The guidance for fair value measurement of financial instruments includes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The following table sets forth our financial liabilities related to the Swaps, which are included in Accounts Payable, Accrued Expenses and Other Liabilities, Net on the accompanying consolidated balance sheet and are accounted for at fair value on a recurring basis as of March 31, 2014:
There was no ineffectiveness recorded on the Swaps during the three months ended March 31, 2013. See Note 6 for more information. The estimated fair value of the Swaps was determined using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments, which consider the impact of any credit enhancements to the contracts, are incorporated in the fair value to account for potential non-performance risk, including our own non-performance risk and the respective counterparty’s non-performance risk. We determined that the significant inputs used to value the Swaps fell within Level 2 of the fair value hierarchy. |
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- Definition
The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies
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3 Months Ended |
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Mar. 31, 2014
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| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | 11. Commitments and Contingencies In the normal course of business, we are involved in legal actions arising from the ownership of our industrial properties. In our opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a materially adverse effect on our consolidated financial position, operations or liquidity. In conjunction with the development of industrial properties, we have entered into agreements with general contractors for the construction of industrial buildings. At March 31, 2014, we have six industrial buildings totaling approximately 1.8 million square feet of GLA that are under construction. The estimated total construction costs as of March 31, 2014 are approximately $94,600. Of this amount, approximately $52,000 remains to be funded. There can be no assurance that the actual completion cost will not exceed the estimated completion cost stated above. |
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The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events
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3 Months Ended |
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Mar. 31, 2014
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| Subsequent Events [Abstract] | |
| Subsequent Events | 12. Subsequent Events Subsequent events were evaluated and it was determined that there were no events that required disclosure within these financial statements. |
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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Policies)
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3 Months Ended |
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Mar. 31, 2014
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| Accounting Policies [Abstract] | |
| Recent Accounting Pronouncements | Recent Accounting Pronouncements In April 2014, the FASB issued Accounting Standards Update No. 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity" ("ASU 2014-08"). ASU 2014-08 changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. ASU 2014-08 is effective for annual periods beginning on or after December 15, 2014, and interim periods within those annual periods and is to be applied prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. Upon adoption, we anticipate the disposition of properties, as well as the classification of properties held for sale, will generally no longer meet the guidance to be classified as discontinued operations. |
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Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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Investment in Real Estate (Tables)
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Mar. 31, 2014
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| Real Estate Investment Property, Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Acquisition Purchase Price Allocation | The purchase price was allocated as follows:
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| Summary of Intangible Assets (Liabilities) Subject to Amortization in the Period of Acquisition | The fair value at the date of acquisition of in-place leases, tenant relationships and above and below market leases recorded due to the real estate property acquired for the three months ended March 31, 2014, which are recorded as deferred leasing intangibles, are as follows:
The weighted average life recorded at the time of acquisition as a result of the real estate property acquired for the three months ended March 31, 2014 in months of in-place leases and tenant relationships and above and below market leases is as follows:
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| Summary of Industrial Properties Included in Discontinued Operations | The following table discloses certain information regarding the industrial properties included in our discontinued operations for the three months ended March 31, 2014 and 2013:
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Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Indebtedness (Tables)
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Mar. 31, 2014
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| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Information Regarding Indebtedness | The following table discloses certain information regarding our indebtedness:
* The maturity date may be extended an additional year at our election, subject to certain restrictions. |
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| Schedule of Maturities of Long-Term Debt | The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums and discounts, for the next five years ending March 31, and thereafter:
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| Summary of Indebtedness at Estimated Fair Value | At March 31, 2014 and December 31, 2013, the fair value of our indebtedness was as follows:
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Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. No definition available.
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- Definition
Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stockholders' Equity (Tables)
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Mar. 31, 2014
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| Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Dividend Distributions | The following table summarizes dividends/distributions accrued during the three months ended March 31, 2014:
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| Summary of Changes in Noncontrolling Interest | The following table summarizes the changes in noncontrolling interest for the three months ended March 31, 2014 and 2013:
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Noncontrolling interest rollforward. No definition available.
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Tabular disclosure of all or some of the information related to dividends declared, but not paid, as of the financial reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accumulated Other Comprehensive Loss (Tables)
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Mar. 31, 2014
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| Accumulated Other Comprehensive Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following tables summarize the changes in accumulated other comprehensive loss by component for the three months ended March 31, 2014 and the reclassifications out of accumulated other comprehensive loss for the three months ended March 31, 2014 and 2013:
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| Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] |
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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). No definition available.
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Tabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Information to Statements of Cash Flows (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2014
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| Supplemental Cash Flow Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash Flow Information |
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Tabular disclosure of supplemental cash flow information for the periods presented. No definition available.
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Earnings Per Share (EPS) (Tables)
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Mar. 31, 2014
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Computation of Basic and Diluted Earnings Per Share | The computation of basic and diluted EPS is presented below:
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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivatives (Tables)
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Mar. 31, 2014
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements on Recurring Basis | The following table sets forth our financial liabilities related to the Swaps, which are included in Accounts Payable, Accrued Expenses and Other Liabilities, Net on the accompanying consolidated balance sheet and are accounted for at fair value on a recurring basis as of March 31, 2014:
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- Definition
Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Organization and Formation of Company - Additional Information (Detail)
|
Mar. 31, 2014
State
sqft
Property
Joint_Ventures
|
|---|---|
| Organization and Formation of Company [Line Items] | |
| Ownership interest of sole general partner | 96.10% |
| Ownership interest in general partner | 100.00% |
| Ownership interest of limited partners | 3.90% |
| Number of joint ventures | 2 |
| Number of industrial properties owned | 651 |
| Number of states in which industrial properties are located | 25 |
| Gross leasable area (GLA) of industrial properties owned | 63,200,000 |
|
2003 Net Lease Joint Venture [Member]
|
|
| Organization and Formation of Company [Line Items] | |
| Number of industrial properties owned | 2 |
| Gross leasable area (GLA) of industrial properties owned | 900,000 |
| X | ||||||||||
|
- Definition
The number of joint ventures that the entity owns a non-controlling interest in as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Ownership interest in general partner. No definition available.
|
| X | ||||||||||
|
- Definition
Area of a real estate property. No definition available.
|
| X | ||||||||||
|
- Definition
The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
| X | ||||||||||
|
- Definition
The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
|
| X | ||||||||||
|
- Definition
The number of real estate properties owned as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The number of states the entity operates in as of the balance sheet date. No definition available.
|
|
Investment in Real Estate - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |
|---|---|---|---|
|
Mar. 31, 2014
sqft
Property
|
Mar. 31, 2013
Property
|
Dec. 31, 2013
Property
|
|
| Real Estate Investment Property, Net [Abstract] | |||
| Number of industrial properties acquired | 1 | ||
| Gross leasable area (GLA) of industrial properties acquired | 300,000 | ||
| Purchase price of acquisitions | $ 13,400 | ||
| Number of industrial properties sold | 3 | ||
| Gross leasable area (GLA) of industrial properties sold | 100,000 | ||
| Gain on sale of real estate | 735 | (2,812) | |
| Number of sold properties included in discontinued operations | 3 | 4 | 67 |
| Proceeds from sale of industrial properties | 3,546 | ||
| Notes receivable outstanding | 35,516 | 52,605 | |
| Net discount of notes receivable outstanding | 0 | 191 | |
| Fair value of notes receivable | $ 37,482 | $ 53,482 | |
| X | ||||||||||
|
- Definition
Number of industrial properties acquired. No definition available.
|
| X | ||||||||||
|
- Definition
Number of industrial properties sold. No definition available.
|
| X | ||||||||||
|
- Definition
The number of sold properties and the related gain or loss on sale of real estate included in discontinued operations. No definition available.
|
| X | ||||||||||
|
- Definition
Square footage of industrial properties sold. No definition available.
|
| X | ||||||||||
|
- Definition
Square Footage of Real Estate Properties Acquired. No definition available.
|
| X | ||||||||||
|
- Definition
The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value portion of an agreement for an unconditional promise by the maker to pay the holder a definite sum of money at a future date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net amount of the investment in a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in the creditor's statement of financial position. Examples include, but are not limited to, credit card receivables, notes receivable and receivables relating to lessor's rights to payments from leases other than operating leases that have been recorded as assets. Excludes trade accounts receivable with contractual maturity of one year or less and arose from the sale of goods or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from sale of buildings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Disclosure of the unamortized amount of the discount on the note or receivable which is deducted from the face amount of the receivable or loan. The discount or premium is the difference between the present value and the face amount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investment in Real Estate - Summary of Acquisition Purchase Price Allocation (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2014
|
|---|---|
| Real Estate Investment Property, Net [Abstract] | |
| Land | $ 2,635 |
| Building and Improvements | 8,157 |
| Other Assets | 551 |
| Deferred Leasing Intangibles, Net | 2,057 |
| Total Purchase Price | $ 13,400 |
| X | ||||||||||
|
- Definition
Amount of facility held for productive use including, but not limited to, office, production, storage and distribution facilities, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of identifiable intangible assets recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of real estate acquired, at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of other assets expected to be realized or consumed after one year or the normal operating cycle, if longer, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investment in Real Estate - Summary of Intangible Assets (Liabilities) Subject to Amortization in the Period of Acquisition (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended |
|---|---|
|
Mar. 31, 2014
|
|
|
In-Place Leases [Member]
|
|
| Acquired Finite-Lived Intangible Assets [Line Items] | |
| Acquired finite lived intangible asset, fair value | $ 1,562 |
| Acquired finite lived intangible asset, weighted average life | 77 months |
|
Tenant Relationships [Member]
|
|
| Acquired Finite-Lived Intangible Assets [Line Items] | |
| Acquired finite lived intangible asset, fair value | 899 |
| Acquired finite lived intangible asset, weighted average life | 137 months |
|
Above Market Leases [Member]
|
|
| Acquired Finite-Lived Intangible Assets [Line Items] | |
| Acquired finite lived intangible asset, fair value | 219 |
| Acquired finite lived intangible asset, weighted average life | 83 months |
|
Below Market Leases [Member]
|
|
| Acquired Finite-Lived Intangible Assets [Line Items] | |
| Acquired finite lived intangible asset, fair value | $ (623) |
| Acquired finite lived intangible asset, weighted average life | 75 months |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Weighted average amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase in assets, excluding financial assets, lacking physical substance with a definite life, resulting from a business combination. No definition available.
|
|
Investment in Real Estate - Summary of Industrial Properties Included in Discontinued Operations (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2014
|
Mar. 31, 2013
|
|
| Real Estate Investment Property, Net [Abstract] | ||
| Total Revenues | $ 53 | $ 3,653 |
| Property Expenses | (40) | (1,516) |
| Depreciation and Amortization | (15) | (1,321) |
| Gain (Loss) on Sale of Real Estate | 735 | (3,074) |
| Income (Loss) from Discontinued Operations | $ 733 | $ (2,258) |
| X | ||||||||||
|
- Definition
Amount of gain (loss), before tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of depreciation and amortization attributable to disposal group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of operating expenses attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of sales or other form of revenues attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Indebtedness - Information Regarding Indebtedness (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Mar. 31, 2014
|
Dec. 31, 2013
|
|||||
| Debt Instrument [Line Items] | ||||||
| Mortgage Loans Payable, Net | $ 674,686 | $ 677,890 | ||||
| Unamortized Premiums | (109) | (115) | ||||
| Mortgage Loans Payable, Gross | 674,577 | 677,775 | ||||
| Senior Unsecured Notes, Net | 446,326 | 445,916 | ||||
| Unamortized Discounts | 570 | 980 | ||||
| Senior Unsecured Notes, Gross | 446,896 | 446,896 | ||||
| Unsecured Term Loan | 200,000 | 0 | ||||
| Unsecured Credit Facility | 52,000 | [1] | 173,000 | [1] | ||
|
2016 Notes
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Unsecured Notes, Net | 159,580 | 159,566 | ||||
| Interest Rate | 5.75% | |||||
| Effective Interest Rate | 5.91% | |||||
| Maturity Date | Jan. 15, 2016 | |||||
|
2017 Notes
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Unsecured Notes, Net | 54,962 | 54,960 | ||||
| Interest Rate | 7.50% | |||||
| Effective Interest Rate | 7.52% | |||||
| Maturity Date | Dec. 01, 2017 | |||||
|
2027 Notes
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Unsecured Notes, Net | 6,066 | 6,066 | ||||
| Interest Rate | 7.15% | |||||
| Effective Interest Rate | 7.11% | |||||
| Maturity Date | May 15, 2027 | |||||
|
2028 Notes
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Unsecured Notes, Net | 31,883 | 31,883 | ||||
| Interest Rate | 7.60% | |||||
| Effective Interest Rate | 8.13% | |||||
| Maturity Date | Jul. 15, 2028 | |||||
|
2032 Notes
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Unsecured Notes, Net | 10,514 | 10,514 | ||||
| Interest Rate | 7.75% | |||||
| Effective Interest Rate | 7.87% | |||||
| Maturity Date | Apr. 15, 2032 | |||||
|
2014 Notes
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Unsecured Notes, Net | 81,536 | 81,149 | ||||
| Interest Rate | 6.42% | |||||
| Effective Interest Rate | 6.54% | |||||
| Maturity Date | Jun. 01, 2014 | |||||
|
2017 II Notes
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Unsecured Notes, Net | $ 101,785 | $ 101,778 | ||||
| Interest Rate | 5.95% | |||||
| Effective Interest Rate | 6.37% | |||||
| Maturity Date | May 15, 2017 | |||||
|
Mortgages
|
||||||
| Debt Instrument [Line Items] | ||||||
| Interest Rate, Minimum | 4.03% | |||||
| Interest Rate, Maximum | 8.26% | |||||
| Effective Interest Rate, Minimum | 4.03% | |||||
| Effective Interest Rate, Maximum | 8.26% | |||||
| Maturity Date Range, Start | Oct. 01, 2014 | |||||
| Maturity Date Range, End | Sep. 01, 2022 | |||||
|
Unsecured Debt
|
||||||
| Debt Instrument [Line Items] | ||||||
| Interest Rate | 1.905% | |||||
| Effective Interest Rate | 1.905% | |||||
| Maturity Date | Jan. 29, 2021 | |||||
|
Line of Credit
|
||||||
| Debt Instrument [Line Items] | ||||||
| Line of Credit Facility, Interest Rate at Period End | 1.6544% | [1] | ||||
| Effective Interest Rate | 1.6544% | [1] | ||||
| Maturity Date | Sep. 29, 2017 | [1] | ||||
|
||||||
| X | ||||||||||
|
- Definition
Secured debt gross. No definition available.
|
| X | ||||||||||
|
- Definition
Unsecured debt gross. No definition available.
|
| X | ||||||||||
|
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
When presenting a range of interest rates, the highest effective rate for funds borrowed under the debt agreement as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
When presenting a range of interest rates, the lowest effective rate for funds borrowed under the debt agreement as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Minimum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Latest date the outstanding debt instruments are required to be repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Earliest date the outstanding debt instruments are required to be repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of debt premium that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effective interest rate at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including both current and noncurrent portions, carrying amount as of the balance sheet date of other forms of debt not elsewhere specified in the taxonomy with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Indebtedness - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
0 Months Ended | ||
|---|---|---|---|
|
Mar. 31, 2014
Mortgages
|
Jan. 29, 2014
Unsecured Debt
|
Jan. 29, 2014
Interest Rate Swap
|
|
| Debt Disclosure [Line Items] | |||
| Carrying value of industrial properties held under mortgage | $ 818,391 | ||
| Unsecured Term Loan, Term | 7 years | ||
| Unsecured Term Loan, Face Amount | 200,000 | ||
| Swaps, notional amount | $ 200,000 |
| X | ||||||||||
|
- Definition
Carrying value of industrial properties held under mortgage and other loan. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
|
Indebtedness - Schedule of Maturities of Long-Term Debt (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2014
|
|---|---|
| Debt Disclosure [Abstract] | |
| Remainder of 2014 | $ 110,123 |
| 2015 | 37,762 |
| 2016 | 272,618 |
| 2017 | 220,723 |
| 2018 | 168,341 |
| Thereafter | 563,906 |
| Total | $ 1,373,473 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the remainder of the fiscal year following the latest fiscal year ended. No definition available.
|
|
Indebtedness - Summary of Indebtedness at Estimated Fair Value (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2014
|
Dec. 31, 2013
|
||||
|---|---|---|---|---|---|---|
| Debt Disclosure [Abstract] | ||||||
| Mortgage Loans Payable, Net, Carrying Amount | $ 674,686 | $ 677,890 | ||||
| Senior Unsecured Debt, Net, Carrying Amount | 446,326 | 445,916 | ||||
| Unsecured Term Loan, Carrying Amount | 200,000 | 0 | ||||
| Unsecured Credit Facility, Carrying Amount | 52,000 | [1] | 173,000 | [1] | ||
| Total, Carrying Amount | 1,373,012 | 1,296,806 | ||||
| Mortgage Loans Payable, Net, Fair Value | 709,495 | 684,914 | ||||
| Senior Unsecured Debt, Net, Fair Value | 485,040 | 482,781 | ||||
| Unsecured Term Loan, Fair Value | 200,000 | |||||
| Unsecured Credit Facility, Fair Value | 52,088 | 173,000 | ||||
| Total, Fair Value | $ 1,446,623 | $ 1,340,695 | ||||
|
||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value portion of contractual arrangement with a lender under which borrowings can be made up to a specific amount at any point in time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value portion of contractual obligation to pay money on demand or on fixed or determinable dates. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value portion of notes payable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including both current and noncurrent portions, carrying amount as of the balance sheet date of other forms of debt not elsewhere specified in the taxonomy with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stockholders' Equity - Additional Information (Detail) (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 3 Months Ended | 3 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2014
|
Mar. 31, 2013
|
Dec. 31, 2013
|
Mar. 31, 2014
Series F Preferred Stock
|
Mar. 06, 2014
Series F Preferred Stock
|
Mar. 31, 2014
Series F Preferred Stock
Minimum
|
Mar. 31, 2014
Series G Preferred Stock
|
Mar. 31, 2014
Convertible Common Stock
|
|
| Class of Stock [Line Items] | ||||||||
| Depositary shares redeemed | 50,000 | 25,000 | ||||||
| Depositary share percentage per share | $ 0.01 | $ 0.01 | ||||||
| Dividend rate per share | 6.236% | 7.236% | ||||||
| Preferred stock, par value per share | $ 0.01 | $ 0.01 | ||||||
| Redemption price per share | $ 1,000.00 | $ 1,000.00 | ||||||
| Dividend per share | $ 11.3299 | $ 36.18 | ||||||
| Total dividend | $ 566 | $ 905 | ||||||
| Cost associated with share redemption | 1,462 | 0 | ||||||
| Preferred stock shares authorized | 10,000,000 | |||||||
| Preferred stock, shares outstanding | 0 | 750 | ||||||
| Fixed coupon rate of preferred stock | 2.375% | |||||||
| Number of years of US treasury rate one | 30 years | |||||||
| Number of years of US treasury rate two | 10 years | |||||||
| LIBOR rate | 3-month LIBOR | |||||||
| New coupon rate of preferred stock | 6.275% | |||||||
| Units converted into common stock | 131,844 | |||||||
| Noncontrolling interest reclassified to stockholders' equity | $ 0 | $ 0 | $ 1,279 | |||||
| X | ||||||||||
|
- Definition
Percentage per depositary share No definition available.
|
| X | ||||||||||
|
- Definition
One of three rates for which the highest of the three rates is the adjustable component of the dividend rate which is added to the fixed component to determine the overall dividend rate. No definition available.
|
| X | ||||||||||
|
- Definition
One of three rates for which the highest of the three rates is the adjustable component of the dividend rate which is added to the fixed component to determine the overall dividend rate. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage points added to the reference rate to compute the variable rate on the interest rate derivative. No definition available.
|
| X | ||||||||||
|
- Definition
Variable interest rate in effect as of the balance sheet date related to the interest rate derivative. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage rate used to calculate dividend payments on preferred stock. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate dividends paid during the period for each share of preferred stock outstanding. No definition available.
|
| X | ||||||||||
|
- Definition
Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The excess of (1) fair value of the consideration transferred to the holders of the preferred stock over (2) the carrying amount of the preferred stock in the registrant's balance sheet, during the accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The price per share at which the preferred stock of an entity that has priority over common stock in the distribution of dividends and in the event of liquidation of the entity is redeemed or may be called at. The redemption features of this preferred stock are solely within the control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stockholders' Equity - Summary of Dividend Distributions (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended |
|---|---|
|
Mar. 31, 2014
|
|
| Class of Stock [Line Items] | |
| Total Common Dividend/ Distribution | $ 11,824 |
| Total Preferred Dividend/ Distribution | 1,019 |
|
Common Stock/Operating Partnership Units
|
|
| Class of Stock [Line Items] | |
| Total Common Dividend/ Distribution | 11,824 |
|
Series F Preferred Stock
|
|
| Class of Stock [Line Items] | |
| Total Preferred Dividend/ Distribution | 566 |
|
Series G Preferred Stock
|
|
| Class of Stock [Line Items] | |
| Total Preferred Dividend/ Distribution | $ 453 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of paid and unpaid common stock dividends declared with the form of settlement in cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stockholders' Equity Stockholders' Equity - Summary of Changes in Noncontrolling Interest (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2014
|
Mar. 31, 2013
|
|
| Noncontrolling Interest [Line Items] | ||
| Noncontrolling Interest, Beginning of Period | $ 44,369 | |
| Net Income (Loss) | 5,067 | (1,123) |
| Unit Distributions | (11,824) | |
| Other Comprehensive (Loss) Income | (1,026) | |
| Conversion of Units to Common Stock | 0 | 0 |
| Reallocation—Additional Paid In Capital | 0 | |
| Reallocation—Other Comprehensive Income | (63) | 186 |
| Noncontrolling Interest, End of Period | 42,748 | |
|
Noncontrolling Interest
|
||
| Noncontrolling Interest [Line Items] | ||
| Noncontrolling Interest, Beginning of Period | 44,369 | 42,274 |
| Net Income (Loss) | 104 | (220) |
| Unit Distributions | (458) | (400) |
| Other Comprehensive (Loss) Income | (41) | 34 |
| Conversion of Units to Common Stock | (1,279) | 0 |
| Reallocation—Additional Paid In Capital | 48 | 2,268 |
| Reallocation—Other Comprehensive Income | 5 | 22 |
| Noncontrolling Interest, End of Period | $ 42,748 | $ 43,978 |
| X | ||||||||||
|
- Definition
Amount after tax of (increase) decrease in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of paid and unpaid common stock dividends declared with the form of settlement in cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of increase in noncontrolling interest from subsidiary issuance of equity interests to noncontrolling interest holders. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Accumulated Other Comprehensive Loss (Changes in AOCI) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended |
|---|---|
|
Mar. 31, 2014
|
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] | |
| Balance as of December 31, 2013 | $ (3,265) |
| Other Comprehensive (Loss) Income Before Reclassifications | (2,351) |
| Amounts Reclassified from Accumulated Other Comprehensive Loss | 1,361 |
| Net Current Period Other Comprehensive (Loss) Income | (990) |
| Balance as of March 31, 2014 | (4,255) |
|
Interest Rate Protection Agreements
|
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] | |
| Balance as of December 31, 2013 | (3,481) |
| Other Comprehensive (Loss) Income Before Reclassifications | (2,337) |
| Amounts Reclassified from Accumulated Other Comprehensive Loss | 1,361 |
| Net Current Period Other Comprehensive (Loss) Income | (976) |
| Balance as of March 31, 2014 | (4,457) |
|
Foreign Currency Translation Adjustment
|
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] | |
| Balance as of December 31, 2013 | 78 |
| Other Comprehensive (Loss) Income Before Reclassifications | (50) |
| Amounts Reclassified from Accumulated Other Comprehensive Loss | 0 |
| Net Current Period Other Comprehensive (Loss) Income | (50) |
| Balance as of March 31, 2014 | 28 |
|
Comprehensive Income Attributable to Noncontrolling Interest
|
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] | |
| Balance as of December 31, 2013 | 138 |
| Other Comprehensive (Loss) Income Before Reclassifications | 36 |
| Amounts Reclassified from Accumulated Other Comprehensive Loss | 0 |
| Net Current Period Other Comprehensive (Loss) Income | 36 |
| Balance as of March 31, 2014 | $ 174 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax, before reclassification adjustments of other comprehensive income (loss). No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of other comprehensive income (loss) attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of reclassification adjustments of other comprehensive income (loss). No definition available.
|
|
Accumulated Other Comprehensive Loss (Amounts Reclassified from AOCI) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2014
|
Mar. 31, 2013
|
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
| Interest Expense | $ 19,046 | $ 18,963 |
| Loss from Retirement of Debt | 0 | (1,150) |
| Total | (19,148) | (20,408) |
|
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
|
||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
| Total | 1,361 | 768 |
|
Interest Rate Contract [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
|
||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
| Interest Expense | 628 | 585 |
| Loss from Retirement of Debt | 0 | 183 |
|
Interest Rate Swap | Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
|
||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
| Interest Expense | $ 733 | $ 0 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Accumulated Other Comprehensive Loss - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended |
|---|---|
|
Mar. 31, 2014
|
|
| Accumulated Other Comprehensive Loss [Abstract] | |
| Amortization to be reclassified from OCI into income | $ 860 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The estimated value of gains (losses), net anticipated to be transferred in the future from accumulated other comprehensive income into earnings. No definition available.
|
|
Supplemental Information to Statements of Cash Flows - Cash Flow Information (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2014
|
Mar. 31, 2013
|
|
| Supplemental Cash Flow Information [Line Items] | ||
| Interest Expense Capitalized in Connection with Development Activity | $ 380 | $ 930 |
| Supplemental Schedule of Non-Cash Investing and Financing Activities: | ||
| Dividend Payable | 11,921 | |
| Exchange of Operating Partnership Units for Common Stock: | ||
| Conversion of Units to Common Stock | 0 | 0 |
| Assumption of Liabilities in Connection with the Acquisition of Real Estate | 138 | 0 |
| Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate | 12,650 | 13,444 |
| Write-off of Fully Depreciated Assets | (9,863) | (13,890) |
|
Noncontrolling Interest
|
||
| Exchange of Operating Partnership Units for Common Stock: | ||
| Conversion of Units to Common Stock | (1,279) | 0 |
|
Common Stock
|
||
| Exchange of Operating Partnership Units for Common Stock: | ||
| Conversion of Units to Common Stock | 1 | 0 |
|
Additional Paid-in Capital
|
||
| Exchange of Operating Partnership Units for Common Stock: | ||
| Conversion of Units to Common Stock | 1,278 | 0 |
|
Common Stock and Operating Partnership Units [Member]
|
||
| Supplemental Schedule of Non-Cash Investing and Financing Activities: | ||
| Dividend Payable | 11,921 | 9,536 |
|
Preferred Stock
|
||
| Supplemental Schedule of Non-Cash Investing and Financing Activities: | ||
| Dividend Payable | $ 0 | $ 4,289 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The non-cash amount of fully depreciated assets being written off during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Future cash outflow to pay for purchases of fixed assets that have occurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The fair value of liabilities assumed in noncash investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings Per Share - Computation of Basic and Diluted Earning Per Share (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2014
|
Mar. 31, 2013
|
|
| Numerator: | ||
| Income from Continuing Operations | $ 4,334 | $ 873 |
| Gain on Sale of Real Estate | 0 | 262 |
| Noncontrolling Interest Allocable to Continuing Operations | (75) | 120 |
| Income from Continuing Operations Allocable to Participating Securities | (23) | (36) |
| Income from Continuing Operations Attributable to First Industrial Realty Trust, Inc. | 4,236 | 1,219 |
| Preferred Dividends | (1,019) | (3,837) |
| Redemption of Preferred Stock | (1,462) | 0 |
| Income (Loss) from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | 1,755 | (2,618) |
| Income (Loss) from Discontinued Operations | 733 | (2,258) |
| Noncontrolling Interest Allocable to Discontinued Operations | (29) | 100 |
| Income from Discontinued Operations Allocable to Participating Securities | (9) | 0 |
| Income (Loss) from Discontinued Operations Attributable to First Industrial Realty Trust, Inc. | 695 | (2,158) |
| Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities | 2,482 | (4,740) |
| Net Income Allocable to Participating Securities | (32) | (36) |
| Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ 2,450 | $ (4,776) |
| Denominator: | ||
| Weighted Average Shares Outstanding - Basic | 109,676 | 100,774 |
| LTIP Unit Awards | 539 | 0 |
| Weighted Average Number of Shares Outstanding, Diluted | 110,215 | 100,774 |
| Basic and Diluted EPS: | ||
| Income (Loss) from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ 0.02 | $ (0.03) |
| Income (Loss) from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders | $ 0.00 | $ (0.02) |
| Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ 0.02 | $ (0.05) |
| X | ||||||||||
|
- Definition
Income (Loss) From Continuing Operations Allocable to Participating Securities No definition available.
|
| X | ||||||||||
|
- Definition
Income Loss From Continuing Operations Available To Common Stockholders No definition available.
|
| X | ||||||||||
|
- Definition
Income (Loss) From Discontinued Operation Allocable To Participating Securities No definition available.
|
| X | ||||||||||
|
- Definition
Net Income Available To Common Shareholders Basic Excluding Participating Securities No definition available.
|
| X | ||||||||||
|
- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element represents the amount of gain (loss) on sale of properties during the reporting period net of the applicable income taxes realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from continuing operations attributable to the noncontrolling interest. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items, which is apportioned to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This item includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax, reported as a separate component of income before extraordinary items after deduction or consideration of the amount allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Per basic and diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation, when the per share amount is the same. No definition available.
|
| X | ||||||||||
|
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate of earnings distributed and earnings allocated to participating securities under the two-class method to the extent that participating securities may share in earnings as if all of the earnings for the period had been distributed. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
|
| X | ||||||||||
|
- Definition
The excess of (1) fair value of the consideration transferred to the holders of the preferred stock over (2) the carrying amount of the preferred stock in the registrant's balance sheet, during the accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Earnings Per Share - Additional Information (Detail)
|
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2014
|
Mar. 31, 2013
|
|
| Earnings Per Share [Abstract] | ||
| Participating securities | 349,331 | 490,591 |
|
Restricted Stock Units (RSUs)
|
||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
| Non-Participating Securities | 73,400 | 383,500 |
|
Long-Term Incentive Program
|
||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
| Non-Participating Securities | 712,424 | |
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element represents nonvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid). Basic and dilutive earnings per share are generally disclosed for such shares using the two-class method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stock Based Compensation - Additional Information (Detail) (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2014
|
Mar. 31, 2013
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Compensation expense recognized at date of grant | $ 0 | $ 1,008 |
| Amortization related to restricted stock and unit awards | 1,575 | 1,826 |
| Amortization capitalized in development activities | 19 | 11 |
| Unrecognized compensation related to unvested restricted stock and unit awards | 7,614 | |
| Weighted average period of unrecognized compensation expected to be recognized | 11 months 5 days | |
|
Restricted Stock [Member]
|
||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Restricted stock awards to employees | 115,587 | |
| Unrecognized compensation related to unvested restricted stock and unit awards | $ 2,064 | |
|
Restricted Stock [Member] | Minimum
|
||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Vesting period of restricted stock | 3 years | |
|
Contingent Restricted Stock [Member]
|
||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Restricted stock awards to employees | 184,218 | |
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the compensation cost capitalized during the period arising from equity-based compensation arrangements (for example, shares of stock, units, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Unrecognized cost of unvested share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Additional share-based compensation cost recognized as a result of an occurrence of an event that accelerates its recognition. No definition available.
|
| X | ||||||||||
|
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Derivatives - Additional Information (Detail) (Interest Rate Swap, USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2014
|
Jan. 29, 2014
|
|
|
Interest Rate Swap
|
||
| Derivative [Line Items] | ||
| Swaps, number of instruments held | 4 | |
| Swaps, notional amount | $ 200,000 | |
| Swaps, description of variable rate basis | 1-month LIBOR | |
| Swaps, average fixed interest rate | 2.29% |
| X | ||||||||||
|
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Average fixed interest rate related to the group of interest rate derivatives. No definition available.
|
| X | ||||||||||
|
- Definition
The reference rate for the variable rate of the interest rate derivative, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of derivative instruments of a particular group held by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivatives - Fair Value Measurements on Recurring Basis (Detail) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2014
|
|---|---|
| Fair Value On Recurring Basis [Line Items] | |
| Fair Value of Swaps | $ (1,604) |
|
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
|
|
| Fair Value On Recurring Basis [Line Items] | |
| Fair Value of Swaps | 0 |
|
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
|
|
| Fair Value On Recurring Basis [Line Items] | |
| Fair Value of Swaps | (1,604) |
|
Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
|
|
| Fair Value On Recurring Basis [Line Items] | |
| Fair Value of Swaps | $ 0 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value of financial and nonfinancial obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Commitments and Contingencies - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2014
sqft
Property
|
|---|---|
| Commitments and Contingencies Disclosure [Abstract] | |
| Number of industrial properties committed to development | 6 |
| Gross leasable area (GLA) of industrial properties committed to development | 1,800,000 |
| Estimated total construction costs | $ 94,600 |
| Estimated total construction costs remaining to be funded | $ 52,000 |
| X | ||||||||||
|
- Definition
Estimated Total Construction Costs of Development Projects. No definition available.
|
| X | ||||||||||
|
- Definition
Estimated construction cost to be funded. No definition available.
|
| X | ||||||||||
|
- Definition
Number Of Buildings Under Construction No definition available.
|
| X | ||||||||||
|
- Definition
Square Feet Under Development No definition available.
|
| X | ||||||||||
|
- Details
|