FIRST INDUSTRIAL ACQUIRES THREE-PROPERTY INDUSTRIAL PORTFOLIO

SEATTLE — First Industrial Realty Trust Inc. has purchased a 233,000-square-foot industrial portfolio in the Seattle market for an undisclosed price. The portfolio consists of three Class A distribution facilities, which are located in the Kent Valley submarket. The buildings offer easy access to the ports of Seattle and Tacoma, the Seattle-Tacoma Airport and Interstate 5. At the time of acquisition, the portfolio was 100 percent leased. Andrew Harnish and Chris Spofford of Jones Lang LaSalle assisted First Industrial in the transaction. The seller was not disclosed.
Additionally, the company is currently investing in the development of two buildings, totaling 328,500 square feet, at First Park Meridian Campus in Lacey, Wash. The first building, which totals 198,000 square feet, is slated for completion in October.