FIRST INDUSTRIAL REALTY TRUST INC
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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FY2023 · Filed Feb 14, 2024
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6. Leases
- Leases
During the year ended December 31, 2023, the Joint Venture entered into an operating lease, leasing 71 acres of land to a tenant. Future minimum rental receipts, for the years ended December 31, 2024 and 2025 are $5,513 and $1,378, respectively. The lease includes a purchase option. For purposes of determining the lease term and lease classification, the Joint Venture excluded the purchase option as it was not reasonably certain at lease commencement that the option would be exercised.
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