First Industrial Realty Trust, Inc. Common Stock (FR)

Competitors to First Industrial Realty Trust, Inc. Common Stock (FR)

Duke Realty Corporation

Duke Realty, a real estate investment trust, primarily focuses on logistics and industrial properties similar to First Industrial. However, Duke operates with a more diversified property portfolio and a larger geographic footprint, positioning it advantageously in regions that are key for distribution and logistics. Duke Realty’s established relationships with larger tenants and its ongoing development projects allow it to maintain a competitive edge in securing long-term leases, whereas First Industrial may experience challenges in attracting the same caliber of tenants.

Industrial Logistics Properties Trust 

Industrial Logistics Properties Trust operates in a similar niche as First Industrial, focusing on logistics and industrial properties. ILPT differentiates itself by primarily targeting properties leased to tenants engaged in e-commerce and supply chain logistics, which have seen significant growth in recent years. Their strategy of acquiring properties in high-demand markets provides them with competitive leverage over companies like First Industrial, which also competes in this space but might not have as strong a focus on e-commerce tenants.

Liberty Property Trust

Liberty Property Trust, though smaller than both Prologis and Duke Realty, competes by focusing on high-quality industrial and distribution buildings in key urban centers. They emphasize sustainable building practices and modern features in their properties, which appeal to environmentally conscious tenants. Although their scale is more modest compared to First Industrial, Liberty's strategic positioning in prime markets gives it an advantage in attracting leaseholders looking for modern, energy-efficient spaces.

Prologis, Inc. 

Prologis, Inc. is one of the largest owners and operators of logistics facilities worldwide, significantly overshadowing First Industrial Realty Trust in terms of scale and global reach. Prologis focuses heavily on e-commerce and fulfillment centers, benefitting from the increase in online shopping trends. They also have a larger portfolio, allowing for economies of scale in operations and lower vacancy rates, which gives them leverage in negotiating lease terms. While First Industrial concentrates more on local markets and industrial properties in the U.S., Prologis's size and diverse international presence give it a competitive edge.