"We look forward to an ongoing relationship with P&G," says First Industrial CEO Mike Brennan. A spokesperson for the REIT says that the P&G deal is indicative of the kind of development business that First Industrial will be pursuing following a thorough review of the profitability of the REITs various lines of business.
Through something the trust calls Integrated Industrial Solutions, the REIT hopes to build relationships with its corporate industrial clients that attempt to provide total solutions to real estate problems. This type of "value added" approach to the business has been consistently the most profitable for First Industrial, the spokesperson said.
First Industrial is the largest industrial REIT in that nation, with over 77 million-sf of facilities either owned or under management.
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