First Industrial Realty Trust Completes Initial Acquisition in Edmonton Market

CHICAGO, April 1, 2008 /PRNewswire-FirstCall/ -- First Industrial Realty Trust, Inc. , a leading provider of industrial real estate supply chain solutions, today announced that it has acquired 55 acres of developable land in Nisku, Alberta, Canada, a strategic submarket of Edmonton. The acquisition and development of the site, known as "First Park Nisku," will be completed through the recently-formed FirstCal Industrial Canada Joint Venture, with the California State Teachers' Retirement System (CalSTRS), the second-largest public pension fund in the U.S. with a $175 billion portfolio. This investment is the Company's first in the Edmonton market.

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First Park Nisku is located less than a mile from the Edmonton International Airport with frontage on the Queen Elizabeth II Highway, the major highway connecting Calgary and Edmonton, and is accessible from Highway 19.

"Given its proximity to the airport and the highway network, First Park Nisku is a highly-visible location for suppliers to the energy industry or other sectors that need service center facilities, as well as firms requiring light industrial buildings," said Blair Sinclair, senior development officer for First Industrial's Calgary/Edmonton office. "Demand for industrial real estate continues to be strong in the Edmonton market, and we are pleased to acquire this ideally-located site for development to serve our customers' needs."

Initial plans for First Park Nisku include expanding the infrastructure and utilities, as well as preparing the site for vertical development. Individual lots on the site are zoned for industrial and other commercial uses. Future development plans include build-to-suit facilities and select sales of land parcels to corporate customers.

Mr. Sinclair and Dana Schmidt, senior development manager, led the First Industrial team on the acquisition. CB Richard Ellis Investors is the advisor to CalSTRS on the FirstCal Industrial Canada Joint Venture. First Industrial would like to thank Thomas Ashcroft of Avison Young for his assistance in brokering the acquisition.

In the Calgary/Edmonton region, First Industrial owns approximately 77 acres of developable land. This includes a 22 acre parcel in Calgary that First Industrial acquired during the first quarter of 2008. Throughout North America and Europe, First Industrial owns, manages, and has under development more than 100 million square feet of industrial space.

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: national, international, regional and local economic conditions generally and real estate markets specifically, legislation/regulation (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, changes in general accounting principles, policies and guidelines applicable to real estate investment trusts, and risks related to doing business internationally (including foreign currency exchange risks). 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.

First Industrial Realty Trust, Inc. provides industrial real estate solutions for every stage of a customer's supply chain, no matter how large or complex. Across more than 30 markets in the United States, Canada, The Netherlands and Belgium, our local market experts buy, (re)develop, lease, manage and sell industrial properties, including all of the major facility types -- R&D/flex, light industrial, manufacturing, and regional and bulk distribution centers. We continue to receive leading customer service scores from Kingsley Associates, an independent research firm, and in total, we own, manage, and have under development more than 100 million square feet of industrial space. For more information, please visit us at http://www.firstindustrial.com/.