FirstWord 2014 Third Quarter Newsletter

Volume 10
Issue 3
3Q 2014
First Industrial Realty Trust TENANT NEWSLETTER
FIRSTWord
INSIDE
3
FEATURED
PROPERTY:
New industrial
projects change
shape with higher
ceiling height, offering
more capacity
4
SAN DIEGO:
Region-specific
drivers and the
overall improving
economy contribute
to lower vacancy
5
FOR LEASE:
Check out
our featured
properties in top
industrial markets
The Power of Now: Get
Connected with First Industrial's
Work Order System
application for your mobile
device (iPhone/iPad). This
At First Industrial, we strive
program records your work
to provide superior customer
order request, notifies you
service every time you do
that it has been received and
business with us. That is why
dispatches your request to
we are rolling out our online
appropriate maintenance
service request system to all of an
– all through the
our customers, nationwide. We technician
touch
of
a
button.
want you to know real-time
where your service request
A number of our customers
stands. And, we want you to
are actively using this system
tell us about your experience
and their response has been
with every First Industrial
overwhelmingly positive. So
service call as its happening.
we want all of our customers
to sign up today and take
WHAT IS IT
advantage of the benefits!
First Industrial’s maintenance
request system, Corrigo, is a
HOW IT WORKS
web-based program that is
Corrigo account,
available online or through an To establish a (continued
on page 7)
TOP STORY
ON CALL:
Find a handy
list of regional
contacts and phone
numbers for your use.
8
www.firstindustrial.com | 3Q 2014
3Q
First Industrial TENANT NEWSLETTER
NEED TO
Welcome New Tenants!
KNOW
MARK YOUR
CALENDAR: Our
offices will be closed on
Monday, September 1
for Labor Day. As always,
you can reach First
Industrial at any of our
after-hours contact
numbers. Enjoy the holiday!
MANY THANKS:
Thank you for
participating in our national
customer satisfaction
survey. When the results
are compiled, we will share
with you our findings and
let you know how your
feedback will help fine-tune
our product and service
offerings. We look forward
to continuing to work with
you to fulfill your industrial
real estate needs.
SUGGESTION BOX:
Please let us know
how we can better serve
your needs and provide
timely information. Send
your feedback to
[email protected].
2
AC Products, Inc.
Krupp Trucking, LLC
Allen Distribution
Lewis-Goetz and Company Inc.
Altaquip, LLC
M Block and Sons, Inc.
Axium Solar, Inc.
Mankato Rehabilitation Center, Inc.
Backyard Theater Systems LLC
Martin Greenbaum Company, Inc.
BMS Limited 1999 Inc
Marwest, LLC
Boland Trane Services Inc.
Mitsubishi Electric US, Inc.
Branch Reconstruction, LLC
NGL Warehouse, LLC
Brown Note Productions Inc
Pelle Pelle, Inc.
Circle Pottery, LLC
Pentair Water Pool and Spa Inc.
Colorado Automation and Design
Pico Rents Inc.
Corporate Tax Network, LLC
SBiomed LLC
DB Vapes LLC
SDDS Holdings
Designer Protein LLC
Senior Midwest Direct, Inc.
Digitek Computer Products, Inc.
Specialty Tile Products
Direct Source, Inc.
Storopack, Inc.
Domus, Inc.
Techradium, Inc.
Dynamic 3PL, LLC
The Cabinet Maker, LLC
Eliran Moshe-Hai
The Gravity Group, LLC
Fastenal Company
The Service Solutions, LLC
Fountain Formation Technologies LLC
Today’s Business, LLC
Government Development Center, LLC
Trixie Pet Products, Inc.
Gulf Atlantic Packaging, Inc.
TSC LLC
Gustave A. Larson Company
Universal Direct LLC
Hydroslice Aerospace LLC
UZ Trans, Inc.
I3PL, LLC
Venture Lighting International
IMM Group
Vescent Photonics Incorporated
Independent Management Services, LLC
Weida Freight Systems, Inc.
Jack Van Impe Ministries Int'l
Wert Fixture and Display
JK Direct, Inc.
XPO Last Mile
K & H Consulting, Inc.
Yes Him Consulting, Inc.
Konica Minolta Business Solutions
www.firstindustrial.com | 3Q 2014
3Q
TENANT NEWSLETTER First Industrial
Sky's the Limit: Our New First 36
Logistics Center in Southern California
FEATURED PROPERTY
Set in the Inland Empire
at the northeast corner
of Perris Boulevard and
Edwin Road on a 28 acre
site, First Industrial's newly
developed First 36 Logistics
Center @ Moreno Valley
stands apart from the
competition.
This 555,670 square-foot
building has a soaring
36-foot ceiling height that
allows customers to benefit
from increased pallet
capacity. Other features
include an ESFR sprinkler
system, 185' concrete truck
court, 136 trailer stalls and
408 auto parking spaces.
including SR-60, I-110 and
I-15.
Against the backdrop of the
foothills, First Industrial's
new facility is an ideal
The Inland Empire East
home for companies with
submarket is busy with
products moving through
activity. High-end corporate Southern California to
neighbors such as Harbor
serve customers across
Freight Tools, O'Reilly Auto
the state and inland. For
Parts, Ross, Walgreens,
more information, contact
Philips Lighting and Home
Ryan McClean at (310)
Depot have easy access
414-5400 or via email at
to major thoroughfares
[email protected].
3Q 2014 | www.firstindustrial.com
3
3Q
First Industrial TENANT NEWSLETTER
San Diego's Economy Supports
Growth, New Industrial Opportunities
REGIONAL SPOTLIGHT
The industrial real estate
market in San Diego
is benefiting from the
continuing economic
recovery in the region.
The drivers of demand
for industrial real estate
in San Diego are diverse –
from hi-tech and biotech
businesses to government
and defense buoyed by the
strong presence of the U.S.
Navy to the booming craft
beer industry. Coupled with
an impressive increase in
employment levels, the San
Diego market is showing
growth on many fronts.
San Diego’s industrial market
is celebrating its eighth
straight quarter of positive
net absorption, as businesses
are seeking more space for
growth to accommodate
increasing customer demand.
With an overall vacancy of
around 8% for the nearly 190
million square-foot market,
space availability is close to
its lowest level in seven years.
While the recovery in
industrial demand has
spurred a few new projects,
industrial development in
San Diego is limited given
4
the area's land constraints.
The I-15 corridor is seeing
the most industrial real
estate activity. This major
thoroughfare the fourth
longest north–south
Interstate Highway in the U.S.
I-15 passes through six states,
and runs from the Canadian
border to San Diego County,
close to the Mexican border.
Serving key cities such as Salt
Lake City and Las Vegas and
passing close to the urban
areas of Helena, Mont., Los
Angeles County, Calif., easy
access to this highway can be
ideal for companies moving
products through Southern
California to serve customers
inland.
First Industrial’s San
Diego portfolio meets
the distribution or light
industrial needs of a range
of customers operating
in this diverse market. For
2325 CAMINO VIDA ROBLE more information about
CARLSBAD, CA
leasing opportunities in San
Diego, contact Jerry Devon,
First Industrial's Marketing/
Leasing Director, at (310)
414-5022 or via email at
[email protected].
2325 Camino Vida Roble is an
example of First Industrial's
prime leasing opportunities in
the San Diego market.
Available: 25,628 SF
Clear Height: 16’
Docks: 4 drive in doors
For more information,
contact Jerry Devon at
(310) 414-5400 or via email
at [email protected].
Celebrating our 20th
anniversary as a publically
traded company, First
Industrial Realty Trust is a
leading owner, operator, and
developer of industrial real
estate with a track record of
providing industry leading
customer service. We own,
manage and have under
development approximately
66.2 million square feet of
space in total, with nearly 5
million square feet located in
Southern California.
www.firstindustrial.com | 3Q 2014
3RD QUARTER 2014
featured properties
C
TRU
S
NE
2300 Corporate Center Drive
Thousand Oaks, CA
ON
WC
N
TIO
S
CON
EW
S
C
TRU
N
First San Michelle Logistics Center
Perris Blvd. & San Michelle Rd.
Moreno Valley, CA
Available SF: 185,300
ON
CTI
CON
W
E
N
First Pinnacle Industrial Center
1251 North Cockrell Hill Road
Dallas, TX
N
TIO
N
U
STR
N
7101 Winnetka Avenue South
Brooklyn Park, MN
S
Available SF: 244,257
TIO
C
TRU
CON
EW
First Bandini Logistics Center
5553 Bandini Boulevard
Bell, CA
Available SF: 555,670
CON
EW
N
TIO
N
First 36 Logistics Center @
Moreno Valley
17100 Perris Boulevard
Moreno Valley, CA
Available SF: 88,064
C
TRU
S
C
TRU
NE
ON
WC
N
TIO
Available SF: 456,409
First Arlington Commerce Center @ I-20
3996 Scientific Drive
Arlington, TX
First Northwest Commerce Center
4800 West Greens Road
Houston, TX
2900 N. Shadeland Avenue
Indianapolis, IN
111 Whittendale Drive
Moorestown, NJ
18212 Shawley Drive
Hagerstown, MD
596 Bonnie Valentine Way
Pendergrass, GA
Available SF: 323,000
Available SF: 79,329
Available SF: 150,000
Available SF: 106,525
Available SF: 221,661
Available SF: 153,000
Available SF: 350,820
First Industrial Realty Trust is a leading owner and operator of industrial real estate.
Go to www.firstindustrial.com to search all
available property opportunities.
3Q
First Industrial TENANT NEWSLETTER
WHERE WE ARE
MARKET/
REGION
TOTAL
TOTAL
PROPERTIES MARKET SF
ATLANTA
35
5,504,422
BALTIMORE
24
1,704,253
CALIFORNIA
44
4,830,187
CHICAGO/
MILWAUKEE
50
7,334,536
DALLAS/
FT. WORTH
68
5,453,836
DENVER
46
2,671,522
DETROIT
100
3,534,784
FLORIDA
43
1,647,211
HOUSTON
33
3,973,030
INDIANAPOLIS
33
3,566,271
MINNEAPOLIS
35
4,900,551
NASHVILLE
7
1,413,140
NEW JERSEY
24
1,775,152
OHIO
22
3,377,118
PENNSYLVANIA
32
6,719,185
PHOENIX
11
1,103,290
SALT LAKE CITY
14
739,636
SEATTLE
4
384,929
ST. LOUIS
17
2,436,750
Revived Industrial Demand
Continues, Outpaces Supply
First Industrial recently reported its second quarter 2014
earnings results. The Company demonstrated growth on
several fronts - from new development to leasing to
acquisitions. Backed by a balance sheet rated investment
grade by S&P, First Industrial continues to invest for the
future to enhance its portfolio and serve customers’ needs.
The industrial real estate environment is healthy,
supported by growth in the overall economy. Bruce
Duncan, the Company’s president and CEO noted that
“industrial fundamentals remain robust as demand for
industrial space continues to well outpace the levels of
new supply.”
First Industrial's recent investment activity included the
acquisition of a leasehold interest in a 225,000 SF
distribution center in Southern California and a 53,000 SF
facility in Chicago. We also started development of the
two-building 239,000 SF Interstate North Business Park in
Minneapolis, and acquired a 10-acre development site in
the Dallas market that will house a 153,000 SF building.
Quarterly leasing efforts resulted in increased portfolio
occupancy as well as winning tenants at some of our new
development projects. A great example was a 142,000
SF lease for the 222,000 SF facility at our two-building,
598,000 SF First Pinnacle Industrial Center development
in process in Dallas. Expected completion is the first
quarter of 2015.
For additional information about First Industrial's new
developments or other leasing opportunities, visit
www.firstindustrial.com or reach out to your local office.
456,409 SF is available at
First Pinnacle Industrial
Center in Dallas, TX
First Industrial Realty Trust, an established
REIT, owns, manages and has under
development 66.2 million s.f. of industrial
space across more than 650 properties in
the top North American industrial markets.
6
www.firstindustrial.com | 3Q 2014
3Q
TENANT NEWSLETTER First Industrial
customers greater control
and awareness of the status
of requests and can enhance
reach out to your
the level of communication
regional customer service
with your local First Industrial
coordinator. Your customer
contact. Additional benefits
service coordinator will
of using Corrigo include:
activate your account and
• Ability to submit a service
send you a link to the Corrigo
request from anywhere,
sign in page with pertinent
without making a single
sign-in information.
phone call
• Reduced response time
Once you are up and running • Accurate and timely
with a Corrigo account, you
recording of request
can:
• Tracking of most frequent
• Place service and
requests and proactive
maintenance requests
response to them
online or through the
• Decreased time dedicated
application
to regular maintenance
• Upload relevant photos or
requests
images
• Collaborative
• Track the progress of
environment established
your request through
between customers,
completion
landlord and maintenance
technician
WHAT IT MEANS
• Submission of information
This powerful tool gives our
through a secure portal
Corrigo Work Order System
continued from page 1
• No missed phone calls
and no voicemail
• Ability to rate the service
of our maintenance
technicians or vendors
• Simple process to
establish an account
• Widely used and highly
recommended system
A key factor behind our
track record of industry
leading customer service
is responsiveness. Building
this easy to use online tool
into your regular business
practices will continue to
help us respond quickly to
any and all of your industrial
real estate needs.
For more information or
to set up your account,
contact the customer
service coordinator in
your market or visit us at
www.firstindustrial.com.
Certificate of Insurance Check-Up
Rent Reminder
Is your Certificate of Insurance current?
As you know, your lease requires that you provide us with a
copy of your Certificate of Insurance naming your landlord
(typically First Industrial, L.P.) as an “Additional Insured.” Have
your insurance agent check your lease for the proper landlord
name. Upon renewal of your coverage, help us keep your files
with us up to date—simply ask your insurance agent to send
a Certificate of Insurance to your regional First Industrial office
(ATTN: Lease Administration). Also, if your lease requires it,
please send a copy to First Industrial’s corporate address at:
311 S. Wacker Drive, Suite 3900, Chicago, IL 60606.
Rent is due on the first day
of each month and should
be mailed to the address
provided in your lease. To
avoid late fees if paying by
manual check, please mail
your check on or before the
first of the month. Or, talk
to your local representative
about getting set up to
make electronic payments.
3Q 2014 | www.firstindustrial.com
7
3Q
CONTACT NUMBERS
First Industrial TENANT NEWSLETTER
REGION
MAIN PHONE
MAINTENANCE
LEASING
ACCOUNTING
AFTER HOURS
Atlanta
(678) 443-9670
Julie Solorio
Corey Richardson
Racheal Moses
(770) 929-6239
Baltimore
(410) 312-2900
Kathy Lorusso
Jeff Thomas, Mac McCulloch Regina Ramage
(410) 312-2900
California
(310) 414-5400
Eric Hassett
Ryan McClean, Jerry Devon
Linda Bauer
(714) 403-5493
Chicago
(312) 344-4300
Cynthia Vargas
Adam Moore
Elena Maraviglia
(847) 233-0050
Cincinnati
(513) 860-0480
Shaunna Casey
Dan Meador
Debbie Higinbotham (866) 896-0480
Cleveland
(248) 357-4050
David Harsch
John Strabel
Nancy Shedlock
(216) 642-0585
Dallas
(972) 386-4700
Danyell Little
Robert Allen, Royal Pratt
Bobby Elliott
(972) 419-5713
Denver
(303) 220-5565
Tory Scheck
Greg Downs
Theresa Hibbard
(303) 281-8063
Detroit
(248) 357-4050
Dana Pietrzyk
John Strabel
Nancy Shedlock
(248) 357-4050
Florida
(813) 884-6161
Ben Wallert
Richard Prokup
Brenda Lamer
(813) 884-6161
Fort Worth
(972) 386-4700
Danyell Little
Robert Allen, Royal Pratt
Bobby Elliott
(972) 419-5713
Harrisburg
(610) 594-9700
Heather Reed
Jeff Thomas
Regina Ramage
(717) 525-2269
Houston
(713) 681-0885
Tim Sawyer
Royal Pratt
Nielle Summers
(281) 812-0015
Indianapolis
(317) 351-9330
Shaunna Casey
Dan Meador
Debbie Higinbotham (317) 309-0550
Milwaukee
(312) 344-4300
Cynthia Vargas
Adam Moore
Elena Maraviglia
(847) 233-0050
Minneapolis
(952) 943-2700
Jennifer Jasperson
Chris Willson
Christie Hladky
(800) 483-0058
Nashville
(314) 426-2111
Michelle Moore
John Wright
Anne Keusemann
(314) 426-2111
New Jersey
(973) 227-6600
Heather Becker
Mac McCulloch
Rita Tignini
(800) 374-9033
Philadelphia
(610) 594-9700
Heather Reed
Jeff Thomas
Regina Ramage
(610) 842-9095
Phoenix
(480) 483-0360
Nicholaus Fischer
Kevin Czerwinski
Nicholaus Fischer
(602) 316-3754
Salt Lake City
(303) 220-5565
Charisse Inglet
Greg Downs
Theresa Hibbard
(801) 574-0722
Seattle
(310) 414-5400
Eric Hassett
Jerry Devon
Linda Bauer
(714) 403-5493
St. Louis
(314) 426-2111
Michelle Moore
John Wright
Anne Keusemann
(314) 426-2111