FIRST INDUSTRIAL LP
For the period ended Dec 31, 2025. Filed Feb 11, 2026.
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FY2025 · Filed Feb 11, 2026
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14. Commitments and Contingencies
- Commitments and Contingencies
In the normal course of business, we are involved in legal actions arising from the ownership and operation of our industrial properties. In our opinion, any liabilities that may result from such legal actions are not expected to have a materially adverse effect on our consolidated financial position, results of operations or liquidity.
At December 31, 2025, we had outstanding letters of credit and performance bonds in the aggregate amount of $35,857.
In conjunction with the development of industrial properties, we have entered into construction agreements with general contractors for the development of industrial properties. At December 31, 2025, we hadsix projects under construction, totaling approximately 1.1 million square feet of GLA. The estimated total investment for these projects as of December 31, 2025, is approximately $187,100 (unaudited). Of this amount, approximately $87,000 (unaudited) remains to be funded. There can be no assurance that actual completion costs will not exceed the estimated amounts.
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