第一工业地产信托 2025年度报告

SECURITIES AND EXCHANGE COMMISSIONWashington,D.C. 20549_______________________________ Form10-K_______________________________ ☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the fiscal year ended December 31, 2025 or TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 One North Wacker Drive, Suite 4200Chicago, Illinois, 60606(Address of principal executive offices, zip code) (312)344-4300(Registrant's telephone number, including area code) Securities registered pursuant to Section12(b) of the Act: Name of each exchange on which registered New York Stock Exchange Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. First Industrial Realty Trust, Inc.Yes☑No☐First Industrial, L.P.Yes☑No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or 15(d) of the Securities Exchange Act of1934. First Industrial Realty Trust, Inc.YesNoFirst Industrial, L.P.YesNo Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)hasbeen subject to such filing requirements for the past 90days. First Industrial Realty Trust, Inc.YesNoFirst Industrial, L.P.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and postedpursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that theregistrant was required to submit and post such files). First Industrial Realty Trust, Inc.YesNoFirst Industrial, L.P.YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company,"and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one): First Industrial Realty Trust, Inc.: Large accelerated filerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. First Industrial Realty Trust, Inc.First Industrial, L.P. Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report. First Industrial Realty Trust, Inc.First Industrial, L.P. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements. First Industrial Realty Trust, Inc.First Industrial, L.P. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). First Industrial Realty Trust, Inc.First Industrial, L.P. Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). First Industrial Realty Trust, Inc.Yes☐NoFirst Industrial, L.P.Yes☐No The aggregate market value of the voting and non-voting stock held by non-affiliates of First Industrial Realty Trust, Inc. wasapproximately $6,345.6 million based on the closing price on the New York Stock Exchange for such stock on June 30, 2025. At February11, 2026, 132,524,261 shares of First Industrial Realty Trust, Inc.'s Common Stock, $0.01par value, were outstanding._______________________________ DOCUMENTS INCORPORATED BY REFERENCE PartIII incorporates certain information by reference to First Industrial Realty Trust, Inc.'s definitive proxy statement expected to befiled with the Securities and Exchange Commission no later than 120days after the end of First Industrial Realty Trust, Inc.'s fiscal year. EXPLANATORY NOTE This report combines the Annual Reports on Form 10-K for the period ended December 31, 2025 of First Industrial Realty Trust, Inc., aMaryland corporation (the "Company"), and First Industrial, L.P., a Delaware limited partnership (the "Operating Partnership"). Unlessstated otherwise or the context otherwise requires, the terms "we," "our" and "us" refer to the Company and its subsidiaries, including theOperating P