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CHICAGO-First Industrial Realty Trust Inc. saw diluted netincome available to common stockholders grow 8% to 54 cents pershare in the third quarter from last year's numbers, and FFO grewto $1 per share/unit on a diluted basis from 95 cents pershare/unit from a year ago, said company officials in a recentthird quarter report. Mike Brennan, president and chief executiveofficer, said net operating income grew 13% , largely due to higheroccupancy and rental rates, as well as an increase in the size ofthe portfolio. "During the quarter, we placed in service more than3 million square feet of new industrial space for our customers ineight facilities," he said. "We plan to ramp up our developmentactivity even further as demand for industrial real estate riseswith increasing imports of containerized cargo."

The company said other numbers were good during the quarter aswell. Occupancy rose to 93.1%, up 90 basis points from 92.2% insecond quarter 2006; the company retained tenants in 85.7% ofsquare footage up for renewal during the quarter; same property NOIincreased 3.1% on a cash basis, rental rates turned positive in thequarter, increasing 1.5%; and the company leased 8.7 million squarefeet.