INVESTORS

CHICAGO, Jul 11, 2002 /PRNewswire-FirstCall via COMTEX/ --

Multi-Market Transaction Demonstrates the Significant Benefits of First Industrial's Integrated Industrial Solutions(TM)

First Industrial Realty Trust, Inc. (NYSE: FR) announced today the completion of a four facility sale/leaseback transaction for General Motors Corp. utilizing First Industrial's corporate real estate program Integrated Industrial Solutions(TM) (IIS(TM)). The transaction involved a 368,000 square-foot distribution facility located in Broadview, Illinois; a 396,095 square-foot distribution facility located in Santa Fe Springs, California; a 490,500 square-foot distribution facility located in Reno, Nevada; and a 562,560 square-foot distribution facility located in Bucks County, Pennsylvania. The Chicago and Reno facilities include seven and 15 acres of additional developable land, respectively.

This multi-market acquisition highlights the significant benefits of First Industrial's Integrated Industrial Solutions(TM) program. As part of its drive to minimize costs and maximize operational efficiencies, GM determined there were considerable benefits to be gained from the disposition of these properties as part of its supply chain reconfiguration. Because of its I-N-D- L operating platform, which leverages a nationwide portfolio of diverse industrial facility types and local management expertise, First Industrial was in a unique position to deliver a complete and efficient solution to GM's complex needs.

"The transaction was complex because the facilities were in multiple markets. Our national presence enabled us to promptly assess the value of these assets and our strong balance sheet enabled us to quickly close the transaction and continue to serve General Motors," said Jim Carpenter, Executive Director of Investments for First Industrial. "We developed IIS to meet the complex needs of corporate real estate owners nationwide and this transaction once again demonstrates its value to our customers."

For more information about First Industrial's Integrated Industrial Solutions(TM) program, please contact the company at (312) 344-4300 or info@firstindustrial.com .

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. 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.

This press release contains forward-looking information about the Company and the operating partnership. A number of factors could cause the Company's and the operating partnership's actual results to differ materially from those anticipated, including changes in: economic conditions generally and the real estate market specifically, legislative/regulatory changes (including changes to laws governing the taxation of real estate investment trusts), availability of financing, interest rate levels, competition, supply and demand for industrial properties in the Company's and the operating partnership's current and proposed market areas, potential environmental liabilities, slippage in development or lease-up schedules, tenant credit risks, higher-than-expected costs and changes in general accounting principles, policies and guidelines applicable to real estate investment trusts. For further information on these and other factors that could impact the Company and the operating partnership and the statements contained herein, reference should be made to the Company's and the operating partnership's filings with the Securities and Exchange Commission.

SOURCE First Industrial Realty Trust, Inc.

CONTACT: Mike Daly, Director, Investor Relations-Corporate Communications, of First Industrial Realty Trust, +1-312-344-4320 (FR)

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