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SCHEDULE 13G
Amendment No. 4
First Industrial Realty Trust Incorporated
Common Stock
Cusip # 32054K103
Cusip # 32054K103
Item 1: Reporting Person - FMR Corp.
Item 4: Commonwealth of Massachusetts
Item 5: 194,600
Item 6: None
Item 7: 616,400
Item 8: None
Item 9: 616,400
Item 11: 1.628%
Item 12: HC
Cusip # 32054K103
Item 1: Reporting Person - Edward C. Johnson 3d
Item 4: United States of America
Item 5: None
Item 6: None
Item 7: 616,400
Item 8: None
Item 9: 616,400
Item 11: 1.628%
Item 12: IN
Cusip # 32054K103
Item 1: Reporting Person - Abigail P. Johnson
Item 4: United States of America
Item 5: None
Item 6: None
Item 7: 616,400
Item 8: None
Item 9: 616,400
Item 11: 1.628%
Item 12: IN
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)
Item 1(a). Name of Issuer:
First Industrial Realty Trust Incorporated
Item 1(b). Name of Issuer's Principal Executive Offices:
150 North Wacker Drive, Suite 150
Chicago, IL 60606
Item 2(a). Name of Person Filing:
FMR Corp.
Item 2(b). Address or Principal Business Office or, if None, Residence:
82 Devonshire Street, Boston, Massachusetts 02109
Item 2(c). Citizenship:
Not applicable
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
32054K103
Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) and the
person filing, FMR Corp., is a parent holding company in accordance
with Section 240.13d-1(b)(ii)(G). (Note: See Item 7).
Item 4. Ownership
(a) Amount Beneficially Owned:
616,400
(b) Percent of Class:
1.628%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
194,600
(ii) shared power to vote or to direct the vote:
None
(iii) sole power to dispose or to direct the disposition of:
616,400
(iv) shared power to dispose or to direct the disposition of:
None
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof, the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following (X).
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company.
See attached Exhibit(s) A and B.
Item 8. Identification and Classification of Members of the Group.
Not applicable, see attached Exhibit A.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
Inasmuch as the reporting persons are no longer the beneficial
owners of more than five percent of the number of shares
outstanding, the reporting persons have no further reporting
obligation under Section 13(d) of the Securities and Exchange
Commission thereunder, and the reporting persons have no
obligation to amend this Statement if any material change
occurs in the facts set forth herein.
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
Schedule 13G in connection with FMR Corp.'s beneficial
ownership of the common stock of First Industrial Realty Trust
Incorporated at September 30, 1998 is true, complete and
correct.
October 9, 1998
Date
/s/Francis V. Knox
Signature
Francis V. Knox
Compliance Officer - FMR Corp.
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)
Pursuant to the instructions in Item 7 of Schedule 13G, Fidelity
Management & Research Company ("Fidelity"), 82 Devonshire Street, Boston,
Massachusetts 02109, a wholly-owned subsidiary of FMR Corp. and an investment
adviser registered under Section 203 of the Investment Advisers Act of 1940,
is the beneficial owner of 421,800 shares or 1.114% of the common stock
outstanding of First Industrial Realty Trust Incorporated ("the Company") as a
result of acting as investment adviser to various investment companies
registered under Section 8 of the Investment Company Act of 1940.
Edward C. Johnson 3d, FMR Corp., through its control of Fidelity, and the
funds each has sole power to dispose of the 421,800 shares owned by the Funds.
Neither FMR Corp. nor Edward C. Johnson 3d, Chairman of FMR Corp., has
the sole power to vote or direct the voting of the shares owned directly by
the Fidelity Funds, which power resides with the Funds' Boards of Trustees.
Fidelity carries out the voting of the shares under written guidelines
established by the Funds' Boards of Trustees.
Fidelity Management Trust Company, 82 Devonshire Street, Boston,
Massachusetts 02109, a wholly-owned subsidiary of FMR Corp. and a bank as
defined in Section 3(a)(6) of the Securities Exchange Act of 1934, is the
beneficial owner of 194,600 shares or 0.514% of the common stock outstanding
of the Company as a result of its serving as investment manager of the
institutional account(s).
Edward C. Johnson 3d and FMR Corp., through its control of Fidelity
Management Trust Company, each has sole voting and dispositive power over
194,600 shares of common stock owned by the institutional account(s) as
reported above.
Members of the Edward C. Johnson 3d family and trusts for their benefit
are the predominant owners of Class B shares of common stock of FMR Corp.,
representing approximately 49% of the voting power of FMR Corp. Mr. Johnson
3d owns 12.0% and Abigail Johnson owns 24.5% of the aggregate outstanding
voting stock of FMR Corp. Mr. Johnson 3d is Chairman of FMR Corp. and Abigail
P. Johnson is a Director of FMR Corp. The Johnson family group and all other
Class B shareholders have entered into a shareholders' voting agreement under
which all Class B shares will be voted in accordance with the majority vote of
Class B shares. Accordingly, through their ownership of voting common stock
and the execution of the shareholders' voting agreement, members of the
Johnson family may be deemed, under the Investment Company Act of 1940, to
form a controlling group with respect to FMR Corp.
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)
RULE 13d-1(f)(1) AGREEMENT
The undersigned persons, on October 9, 1998, agree and consent to the
joint filing on their behalf of this Schedule 13G in connection with their
beneficial ownership of the common stock of First Industrial Realty Trust
Incorporated at September 30, 1998.
FMR Corp.
By /s/Francis V. Knox
Francis V. Knox
Compliance Officer - FMR Corp.
Edward C. Johnson 3d
By /s/Francis V. Knox
Francis V. Knox
Duly authorized under Power of
Attorney
dated October 1, 1998, by and
on behalf
of Eric D. Roiter
Abigail P. Johnson
By /s/Francis V. Knox
Francis V. Knox
Duly authorized under Power of
Attorney
dated October 1, 1998, by and
on behalf
of Eric D. Roiter
Fidelity Management & Research Company
By /s/Francis V. Knox
Francis V. Knox
Vice President