Volkswagen Completes Sale Leaseback of Three North American Distribution Centers

First Industrial Realty Trust Web Site - November 28, 2006

First Industrial Realty Trust, Inc. (NYSE: FR), the nation's largest provider of diversified industrial real estate, today announced that it has completed a sale-leaseback transaction with Volkswagen of America and Volkswagen of Canada. In the transaction, First Industrial acquired a 977,686 square-foot portfolio comprised of three distribution centers that have been leased back to Volkswagen for terms of fifteen years.

Two of the facilities totaling 634,437 square feet located in the Dallas/Fort Worth and Chicago/Milwaukee markets, respectively, were acquired on behalf of the Company's net lease co-investment program. The company also acquired a 343,249 square-foot distribution center in the Toronto, Canada market for its portfolio. Sphere: Related Content