First Industrial Realty Trust Addresses Land & Buildings' Director Nominee Withdrawal

First Industrial Realty Trust Responds to Withdrawal of Jonathan Litt as Director Nominee

In a significant development, First Industrial Realty Trust, Inc. (NYSE: FR), a key player in logistics real estate, shared its thoughts on the recent withdrawal of Jonathan Litt from the director nominee list proposed by Land & Buildings. This statement comes in light of the upcoming Annual Meeting of Stockholders scheduled for April 30, 2026.

According to First Industrial, Land & Buildings has consistently distorted facts regarding the company's strategy and governance, claiming inaccuracies in representing the firm's historical performance. The company highlighted that it has achieved superior total shareholder returns compared to its peers in the proxy and industrial categories over one, three, and five-year periods. This strong performance serves as a testament to the efficacy of the current board's strategy and its commitment to increasing stock shareholder value.

First Industrial began the year 2026 with robust momentum, continuing to focus on leveraging the ample opportunities within its portfolio and development pipeline. The company emphasizes that its financial results reflect not just the strength of its asset portfolio but also efficient business operations and strict oversight provided by its board of directors.

As part of its ongoing commitment to good governance, First Industrial recently announced the appointment of Frank E. Schmitz, an experienced independent director, effective June 1, 2026. This move aligns with the firm's goal to maintain a balanced mix of knowledge and insight on its board.

Unlike Land & Buildings, First Industrial's board has articulate strategies in place aimed at maintaining and enhancing shareholder value. Recently, the board authorized a significant $250 million share repurchase, further indicating the attractive valuation of its shares and the firm’s pledge to deliver exceptional returns to stockholders.

The management and board of First Industrial remain dedicated to fostering a constructive relationship with shareholders, taking measures that reflect the optimal interests of the company and all its stakeholders. As they prepare for the upcoming vote, they encourage shareholders to endorse all of First Industrial's nominees to solidify the firm’s future and protect the value of their investments.

With the definitive proxy statement expected to be filed with the U.S. Securities and Exchange Commission soon, First Industrial aims to delineate its standpoint further and provide all stakeholders with necessary information to make informed decisions for the approaching shareholders' meeting.

In its pursuit of sustainable growth, First Industrial Realty Trust continues to manifest strong operational practices that underscore its role as a leader in the logistics real estate market. Comprising approximately 71.6 million square feet of industrial space, the firm remains focused on delivering high-quality facilities and outstanding customer service to a diverse range of clients from multinational to regional firms. Interested parties can discover more about their offerings and updates by visiting their website at First Industrial Realty Trust.