FIRST INDUSTRIAL REALTY TRUST INC
For the period ended Mar 31, 2024. Filed Apr 19, 2024.
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Mar 31, 2024 · Filed Apr 19, 2024
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12. Commitments and Contingencies
- Commitments and Contingencies
In the normal course of business, we are involved in legal actions arising from the ownership of our industrial properties. In our opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a materially adverse effect on our consolidated financial position, operations or liquidity.
In conjunction with the development of industrial properties, we have entered into agreements with general contractors for the construction of industrial properties. At March 31, 2024, we hadfour development projects totaling approximately 1.4 million square feet of GLA under construction. The estimated total investment as of March 31, 2024 is approximately $203,000. Of this amount, approximately $62,900 remains to be funded. There can be no assurance that the actual completion cost will not exceed the estimated total investment.
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