First Industrial Realty Trust Inc at Nareit REITweek Conference Transcript
Welcome, everyone, to the First Industrial session. I'm Nick Thillman, Senior Analyst at Baird covering office and industrial REITs. And today, I'm joined by Peter Baccile, President and CEO of FR, along with Scott Musil, CFO; and Peter Schultz, EVP of the East Region. I'm going to hand it over to Peter for some remarks, and then we can proceed with the Q&A after.
Okay. Thanks. For those of you who aren't familiar with us, we're a US-only-focused industrial developer, owner, and manager. We've got about 70 million square feet, plus or minus $12 billion or $13 billion of total value.
Our primary growth engine is speculative development. We do acquire as well, but not on a volume basis, not as much. Over the last 10 years, we've created $1.3 billion in value through our development pipeline, generating 7% cash yields and about 50% margins.
I'll turn it back over to you, Nick.
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