First Industrial Realty Trust (NYSE: FR) is an industrial real estate investment trust that owns, operates, acquires, and develops industrial properties across the United States. The company generates revenue primarily through rental income collected under lease agreements with tenants occupying its industrial facilities. It is structured as a REIT, with First Industrial, L.P. serving as the operating partnership through which property-level activities are conducted. The 10-K filed 2026-02-11 confirms the company operates as both a corporation (First Industrial Realty Trust, Inc.) and an operating partnership (First Industrial, L.P.), both of which are registered filers with the SEC. The filing does not provide specific portfolio size, total revenue figures, tenant concentration data, or named competitors within the excerpts available, so those details are omitted here.

Revenue model

Rental income from tenants leasing industrial properties, collected under lease agreements. The REIT structure requires distribution of the majority of taxable income to shareholders.

Products and services

Industrial real estate properties available for lease, including ownership, operation, acquisition, and development of such assets.

Customers and end markets

Industrial tenants. Specific customer names, concentration percentages, and end markets are not supported by the available filing excerpts.

Value-chain role

Property owner and operator of industrial real estate. Serves as landlord to industrial tenants through its operating partnership, First Industrial, L.P.

Geographic exposure

United States. Specific market or regional breakdown is not supported by the available filing excerpts.

Source: SEC 10-K, filed 2026-02-11

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