First Industrial reports strong activity in 2001

Real Estate Weekly, March 6, 2002

Hayden Tiger, regional director, First Industrial Realty Trust, Inc., reports a successful year for the premier industrial REIT in 2001. This past year First Industrial was able to maintain its position as one of the most active industrial development companies in the New Jersey marketplace. In 2001, the company successfully embarked on several new development initiatives, enjoyed above-industry average occupancy levels and announced several new senior personnel hires.

Highlights of 2001 for First Industrial in New Jersey included:

Among leasing activity was:

* Bergen Brunswig Corporation leased 196,922 SF at Montville Business Center. The leading supplier of pharmaceuticals, medical-surgical supplies and related health care products will utilize this facility for warehouse purposes. Richard Lieberman and Robert Shuster of Grubb & Ellis represented Bergen Brunswig.

* Toys "R" Us' Imaginarium division leased 137,025 SF at 60 Chapin Road at Montville Business Center. The prestigious toy retailer will be utilizing this facility as a distribution center. Michael Evans of SBWE was the broker.

A 122,205-SF long-term lease was signed by Westvaco, Inc. at 60 Chapin Road within the Montville Business Park. The company's Mebane Packaging Group division will consolidate three New Jersey facilities to this 258,240-SF building. Tom Consiglio and Scott Peck of Resource Realty were the brokers.

Among new developments were:

* Sayreville Business Center, consisting of two, 62,400-SF flex buildings, divisible to increments of 5,200 SF. The first facility has been completed and is available for immediate occupancy and the second building is nearing completion. Visible and contiguous from the Exit 124 toll on the Garden State Parkway and located in Middlesex County, Sayreville Business Center is set on 60 acres.

* In Franidin Township, several sites are available for development spanning 40,000 to 180,000 SF. The land is suitable to include high-tech, industrial and office facilities.