INVESTORS

Plans Include 3.3 Million Square Feet of Distribution Space to Meet Growing Customer Demand from Rising International Trade

CHICAGO, May 16 /PRNewswire-FirstCall/ -- First Industrial Realty Trust, Inc. (NYSE: FR), the nation's largest provider of diversified industrial real estate, today announced that is has acquired 205 acres of land in the Inland Empire in Perris, California. First Industrial plans to build up to 3.3 million square feet of logistics distribution space at the new "South Perris Distribution Center" situated along the south I-215 corridor. This investment is being completed through First Industrial's development and repositioning joint venture, FirstCal 1, with the California State Teachers' Retirement System (CalSTRS). CB Richard Ellis Investors is the advisor to CalSTRS on the venture.

"We are pleased to acquire this attractive land parcel in the Inland Empire, a strategic industrial distribution market, to meet demand from rising international trade," said Johannson Yap, First Industrial's chief investment officer. "Southern California is a critical part of the nation's supply chain, with the Ports of Los Angeles and Long Beach handling 40 percent of the nation's import traffic for distribution to the West Coast's population centers and inland through major distribution hubs."

"The Inland Empire's overall economy, population and distribution workforce continue to grow, which will make the South Perris Distribution Center an ideal solution for customers seeking state-of-the-art distribution centers with access to a talented workforce and an efficient transportation network," said Phil Bowman, senior development officer for First Industrial. "The South Perris Distribution Center will be located along the south I-215 corridor off the 'Ethanac' highway exit, providing ready highway access and proximity to sea, air and rail transportation."

First Industrial currently owns, manages, or has under development approximately 4.6 million square feet of industrial properties in California. The Company also has 440 acres of developable land in the state, largely in Southern California, expandable to an additional 8 million square feet. Across its national platform and Canada, First Industrial has more than 100 million square feet of industrial space owned and managed.

For additional information please contact Mr. Bowman at 949-486-1970 ext. 103 or at pbowman@firstindustrial.com.

First Industrial Realty Trust, Inc., the nation's largest provider of diversified industrial real estate, serves every aspect of Corporate America's industrial real estate needs, including customized supply chain solutions, through its unique I-N-D-L operating platform, which utilizes a pure Industrial focus and National scope to provide Diverse facility types, while offering Local, full-service management and expertise. The Company owns, operates and has under development more than 100 million square feet of industrial real estate in markets throughout the United States and Toronto, Canada. Building, buying, selling, leasing and managing industrial property in major markets nationwide, First Industrial develops long-term relationships with corporate real estate directors, tenants and brokers to better serve customers with creative, flexible industrial real estate solutions.

This press release contains forward-looking information about the Company. A number of factors could cause the Company's actual results to differ materially from those anticipated, including changes in: economic conditions generally and the real estate market specifically, legislative/regulatory changes (including changes to laws governing the taxation of real estate investment trusts), availability of financing, interest rate levels, competition, supply and demand for industrial properties in the Company's current and proposed market areas, potential environmental liabilities, slippage in development or lease-up schedules, tenant credit risks, higher-than-expected costs and changes in general accounting principles, policies and guidelines applicable to real estate investment trusts. For further information on these and other factors that could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission.

SOURCE First Industrial Realty Trust, Inc.

CONTACT: Sean P. O'Neill, SVP, Investor Relations and Corporate Communications, +1-312-344-4401, or Art Harmon, Sr. Manager, Investor Relations and Corporate Communications, +1-312-344-4320, both of First Industrial Realty Trust, Inc.