A.J. (for Todd Thomas)'s questions to First Industrial Realty Trust Inc (FR) leadership • Q1 2025
Question
A.J., on behalf of Todd Thomas from KeyBanc Capital Markets, asked for the amount of non-recurring stock-based compensation in G&A for the quarter. He also inquired about short-term leasing activity related to inventory stocking and demand for large spaces in the Inland Empire.
Answer
CFO Scott Musil confirmed the G&A increase was due to forecasted accelerated stock-based compensation but did not provide a specific dollar amount on the call. CIO Jojo Yap stated that while there are requests for short-term leases, the company generally avoids them. He added that demand for large requirements (750,000 sq. ft. and up) in the Inland Empire is quite active, citing two leases over 1 million sq. ft. signed in Q1.