First Industrial acquires 890,000 s/f distribution facility.

First Industrial Realty Trust, Inc. the nation's largest provider of diversified industrial real estate, announced that it has completed the acquisition of an 887,000 s/f warehouse distribution center in Cranbury, NJ on behalf of its net lease co-investment program. The facility is leased to Pearson Education, Inc., the global leader in educational publishing. Terms of the transaction were not disclosed.

"We are pleased to complete the acquisition of this world-class facility on behalf of our net lease co-investment program," said Robert Micera, First Industrial's senior vice president and national head of net lease investments. "First Industrial's national platform and diverse capital base position us to acquire, build, and lease all industrial property types in the typical company's supply chain."

"This state-of-the-art, mission-critical building is an excellent addition to our owned and managed portfolio," said Howard Freeman, senior regional director of First Industrial's New Jersey region. "The central New Jersey industrial market is a strategic distribution point in the nation's supply chain due to its proximity to the port of Newark/ Elizabeth and Newark International Airport."

"This acquisition expands First Industrial's presence in the important Rockefeller Group Foreign Trade Zone at Exit 8A of the New Jersey Turnpike, from which companies can distribute their goods to 40% of the U.S. population within one day of driving," added Rick Vanderbeck, marketing and leasing director for First Industrial's New Jersey region.

First Industrial owns and manages 3.5 million square feet in New Jersey.

First Industrial would like to thank Gary Gabriel and Jules Nissim of Cushman & Wakefield for their assistance in this transaction.

First Industrial Realty Trust, Inc., the nation's largest provider of diversified industrial real estate, serves every aspect of Corporate America's industrial real estate needs, including customized supply chain solutions, through its unique I-N-D-L operating platform, which utilizes a pure Industrial focus and National scope to provide Diverse facility types, while offering Local, full-service management and expertise. The Company owns, operates and has under development more than 100 million square feet of industrial real estate in markets throughout the United States. Building, buying, selling, leasing and managing industrial property in major markets nationwide, First Industrial develops long-term relationships with corporate real estate directors, tenants and brokers to better serve customers with creative, flexible industrial real estate solutions.