UNITED STATES SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): September 18,
2006
Commission File Number 1-13102
FIRST INDUSTRIAL REALTY TRUST,
INC.
(Exact name of Registrant as
specified in its Charter)
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Maryland
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36-3935116
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(State or other jurisdiction
of
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(I.R.S. Employer
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incorporation or
organization)
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Identification No.)
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311 S. Wacker Drive,
Suite 4000,
Chicago, Illinois
(Address of principal
executive offices)
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60606
(Zip
Code)
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(312) 344-4300
(Registrant’s telephone
number, including area code)
Check the appropriate box below if the
Form 8-K
filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following
provisions:
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Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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Soliciting material pursuant to
Rule 14a-12
under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement communications pursuant to
Rule 14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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Pre-commencement communications pursuant to
Rule 13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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During the period January 1, 2006 to June 30, 2006,
First Industrial Realty Trust, Inc. (the “Company”)
sold 66 industrial properties comprising approximately
8.4 million square feet of Gross Leasable Area
(“GLA”) that meet the criteria established by
FAS 144 (defined hereinafter) to be included in
discontinued operations. Five of these properties were
classified as held for sale at December 31, 2005 and were
previously included in discontinued operations. At June 30,
2006, the Company had 16 industrial properties comprising
approximately 2.1 million square feet of GLA classified as
held for sale. In accordance with FAS 144 (defined
hereinafter), the results of operations of the 16 industrial
properties held for sale at June 30, 2006 are included in
discontinued operations.
This Current Report on
Form 8-K
is being filed to reflect the impact of the reclassification of
the results of operations of the industrial properties sold
during the period January 1, 2006 to June 30, 2006
that were not previously classified as held for sale and the
results of operations from properties that are classified as
held for sale at June 30, 2006 as discontinued operations
in accordance with the Financial Accounting Standards
Board’s Statement of Financial Accounting Standards
No. 144, “Accounting for the Impairment or Disposal of
Long Lived Assets” (“FAS 144”).
In compliance with FAS 144, the Company has reported the
results of operations and gains/(losses) on the sale of
industrial properties sold and the results of operations from
properties that are classified as held for sale at June 30,
2006 as income from discontinued operations for each period
presented in its quarterly report filed on
Form 10-Q
for the second quarter ended June 30, 2006. The Company is
filing this
Form 8-K
to reclassify the results of operations of the sold industrial
properties that previously were not classified as held for sale
at December 31, 2005 and the industrial properties held for
sale at June 30, 2006 as discontinued operations in the
Company’s historical financial statements for each of the
years ended December 31, 2005, 2004, 2003, 2002, and 2001.
This reclassification has no effect on the Company’s
reported net income available to common stockholders.
This report on
Form 8-K
updates Items 6, 7, 8 and 15 of the Company’s
Annual Report on
Form 10-K
for the year ended December 31, 2005 to reflect the
reclassification of operations from properties sold from January
1, 2006 to June 30, 2006 that previously were not
classified as held for sale at December 31, 2005 and
industrial properties held for sale at June 30, 2006 that
were previously not classified as held for sale at
December 31, 2005 as discontinued operations for all
periods presented. All other items of the Annual Report on
Form 10-K
for the year ended December 31, 2005 remain unchanged. No
attempt has been made to update matters in the Company’s
Annual Report on
Form 10-K
for the year ended December 31, 2005 except to reflect the
retrospective adjustment requirements of FAS 144. Readers
should refer to the Company’s quarterly report on
Form 10-Q
and current reports on
Form 8-K
for periods subsequent to December 31, 2005 for further
information.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
FIRST INDUSTRIAL REALTY TRUST, INC.
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By:
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/s/ Michael
W. Brennan
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Michael W. Brennan
President, Chief Executive Officer and Director
(Principal Executive Officer)
Date: September 18, 2006
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By:
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/s/ Michael
J. Havala
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Michael J. Havala
Chief Financial Officer
(Principal Financial Officer)
Date: September 18, 2006
Scott A. Musil
Chief Accounting Officer
(Principal Accounting Officer)
Date: September 18, 2006
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