FIRST INDUSTRIAL REALTY TRUST ACQUIRES 261-ACRE SITE

DUPONT, WASH. — First Industrial Realty Trust has acquired a 261-acre land site in DuPont for development. The acquisition and development are being completed through First Industrial’s Strategic Land and Development Joint Venture, FirstCal 3, with the California State Teachers’ Retirement System (CalSTRS), the second-largest public pension fund in the nation. The company plans to develop First Park Northwest Landing on the site, which is located along the Interstate 5 corridor. First Industrial had already started work to entitle the site for development. Initial plans call for the addition of new roads and improved utilities. The company plans to develop build-to-suit distribution and light industrial space. Tom Pehl, Tom Abbott and Milt Reimers of CB Richard Ellis represented First Industrial in the transaction.