First Industrial Realty Trust Posts 52% Rent Growth in Q3 2026
First Industrial Realty Trust reported strong third-quarter results, including a 52% jump in cash rental rates and 5.6% same-store NOI growth.
First Industrial Realty Trust delivered robust third-quarter 2026 results, with cash rental rates on new and renewal leases surging 52% compared to prior lease terms, signaling sustained demand for industrial real estate across its portfolio.
The Chicago-based industrial REIT also recorded cash same-store net operating income growth of 5.6% for the quarter, reflecting steady occupancy performance and rising rents across its existing properties.
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On the acquisitions front, the company expanded its footprint by purchasing a fully leased 764,000-square-foot building in Central Pennsylvania for $120 million during the third quarter. The deal adds significant leasable area in a strategically important logistics corridor connecting the Northeast with mid-Atlantic markets.
First Industrial also completed its leasing activity at First Park Miami Building 12 in South Florida, signing the remaining 32,000 square feet to bring the property to full occupancy. The move underscores ongoing tenant appetite for last-mile and regional distribution space in the Miami metropolitan area, one of the country's fastest-growing industrial markets.
The results reflect broader trends in industrial real estate, where limited new supply and persistent e-commerce and logistics demand have kept vacancy rates low and given landlords significant pricing power on lease rollovers. Continue reading at All Financial Services & Investing.
