(Logo: http://www.newscom.com/cgi-bin/prnh/20040106/FRLOGO)
First Industrial will invest in a two building, 1.3 million square-foot
(117,800 square meters) business park, which will be known as "First Park
Maritime Logistics" on a site that intersects the municipalities of Bornem and
Puurs. The facilities will be acquired on a forward-commitment basis on behalf
of FirstCal Industrial Europe, a
"First Park Maritime Logistics, with its intermodal transportation access,
is a prime example of our investment strategy -- high-quality properties
located along major supply chain routes to meet growing customer demand," said
Construction has started on the first phase, a 461,000 square-foot (42,800
square meters) distribution center located in Bornem, and is expected to be
complete in
Both buildings will feature multi-modal access -- canal, highway and rail.
With docking infrastructure in place, First Park Maritime Logistics is easily
accessible through
"A skilled workforce and the accessibility of its world-class
transportation infrastructure make the Golden Triangle one of the premier
locations for logistics in
"We are pleased to work closely with the De Paepe Group in the planning
and development of this strategically-located logistics park to meet
customers' multi-modal supply chain needs," said
First Industrial representatives will be attending Expo Real 2008 at the
New Munich Trade Fair Centre in
First Industrial would like to thank Kurt Bomhals and Luc Kiebooms of
First Industrial Realty Trust, Inc. (NYSE: FR) 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
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, and Section 21E of the
Securities Exchange Act of 1934. We intend such forward-looking statements to
be covered by the safe harbor provisions for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995, and are
including this statement for purposes of complying with those safe harbor
provisions. Forward-looking statements, which are based on certain assumptions
and describe future plans, strategies and expectations of the Company, are
generally identifiable by use of the words "believe," "expect," "intend,"
"anticipate," "estimate," "project" or similar expressions. Our ability to
predict results or the actual effect of future plans or strategies is
inherently uncertain. Factors which could have a materially adverse affect on
our operations and future prospects include, but are not limited to, changes
in: national, international (including trade volume growth), regional and
local economic conditions generally and real estate markets specifically,
including as a result of any potential continuing deterioration in the
national and international debt and equity markets, legislation/regulation
(including changes to laws governing the taxation of real estate investment
trusts), our ability to qualify and maintain our status as a real estate
investment trust, availability and attractiveness of financing (including both
public and private capital) to us and to our potential transaction
counterparties, interest rate levels, our ability to maintain our current
credit agency ratings, competition, supply and demand for industrial
properties (including land, the supply and demand for which is inherently more
volatile than other types of industrial property) in the Company's current and
proposed market areas, difficulties in consummating acquisitions and
dispositions, risks related to our investments in properties through joint
ventures, 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, risks related to doing business internationally
(including foreign currency exchange risks and risks related to integrating
international properties and operations) and those additional factors
described under the heading "Risk Factors" and elsewhere in the Company's
annual report on Form 10-K for the year ended
SOURCE First Industrial Realty Trust, Inc.