Land & Buildings Urges Change At First Industrial, Opposes Two Directors, Withdraws Jonathan Litt Nomination

Land & Buildings Investment Management has called for significant changes at First Industrial Realty Trust (FR), urging shareholders to vote against the reelection of Chairman Matt Dominski and Director H. Patrick Hackett, Jr., who have overseen governance failures resulting in approximately $2 billion in market capitalization loss. The firm believes that urgent change is necessary to maximize shareholder value and has decided to withdraw the nomination of its founder and CIO, Jonathan Litt, for a board position, citing a lack of constructive engagement from the current board on governance improvements.