Teo Oksana's questions to First Industrial Realty Trust Inc (FR) leadership • Q4 2024
Question
Teo Oksana of Deutsche Bank asked for context on the company's 'flat to slightly down' rent growth forecast for Southern California, contrasting it with broker reports suggesting steeper declines.
Answer
President and CEO Peter Baccile explained that the difference stems from portfolio composition. He emphasized that FR's focus on delivering high-quality, competitive products in specific submarkets allows their portfolio to perform differently than the broader market average, leading to their more stable rent growth outlook.