| Just minutes after Strategic's call, we jumped on to hear about First Industrial's 2010. It increased occupancy in its portfolio, and is up to85%, thanks in part to diapers.com expanding its lease to 486k SFin its Central Pennsylvania portfolio. This represents a 350 bps improvement in occupancy, although First Industrial CEO Bruce Duncan expects that rental rates will drop 10% to 12% as leases expire and the company tries to keep occupancy up. He expects occupancy to be at 92% in two to three years. |
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories
)
)
)
)
)
)
)
)
)
)
)
)