FIRST INDUSTRIAL REALTY TRUST INC
8-K, 1997-12-23
REAL ESTATE INVESTMENT TRUSTS
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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549



                                    FORM 8-K

Current report pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934

                               __________________

                         Commission File Number 1-13102

      Date of Report (date of earliest event reported): DECEMBER 11, 1997


                      FIRST INDUSTRIAL REALTY TRUST, INC.
             (Exact name of Registrant as specified in its Charter)



                     MARYLAND                     36-3935116
             (State or other jurisdiction of   (I.R.S. Employer
             incorporation or organization)    Identification No.)





            311 S. WACKER DRIVE, SUITE 4000, CHICAGO, ILLINOIS 60606
                    (Address of principal executive offices)


                               (312) 344-4300
            (Registrant's telephone number, including area code)















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                             ITEM 5.  OTHER EVENTS


     Since the filing of First Industrial Realty Trust, Inc. and its
Subsidiaries' (the "Company") Form 8-K dated October 30, 1997, the Company
acquired 36 industrial properties and three land parcels for future development
from unrelated parties, during the period November 1, 1997 through December 22, 
1997.  The combined purchase price of the 36 industrial properties and three
land parcels acquired totaled approximately $94.6 million, excluding
development costs incurred subsequent to the acquisition of the land parcels
and closing costs incurred in conjunction with the acquisition of the
industrial properties and land parcels. The 36 industrial properties and three
land parcels acquired are described below and were funded with working capital,
the issuance of limited partnership units in First Industrial, L.P. (the
"Units") and borrowings under the Company's 1996 Unsecured Acquisition
Facility.  The Company has continued the pre-acquisition uses of the
properties.  With respect to the land parcels purchased, the Company intends to
develop the land parcels and operate the facilities as industrial rental
property.

     In connection with the acquisition of 28 of the 36 industrial properties
acquired during the period October 31, 1997 through December 19, 1997, the
closing date of the last property acquired, the Company completed negotiations
to acquire an additional industrial property (described below) by January 31,
1998 which will be funded with cash, the issuance of Units and the assumption
of debt.  The Company will continue the pre-acquisition use of this property.


o    On November 19, 1997, the Company purchased a 100,000 square foot bulk
     warehouse property located in Indianapolis, Indiana for approximately $3.3
     million.  The property was purchased from Shadeland III Associates Limited
     Partnership.  Rental history commenced on August 1, 1997.

o    On November 24, 1997, the Company purchased a land parcel located in
     Jeffersonville, Indiana for approximately $.9 million.  The land parcel
     was purchased from the Indiana Port Commission.

o    On December 5, 1997, the Company purchased three light industrial
     properties totaling 262,488 square feet located in Tempe, Arizona.  The
     aggregate purchase price for these properties was approximately $18.8
     million.  The properties were purchased from Opus Estates, L.L.C.

o    On December 5, 1997, the Company purchased a 174,854 square foot light
     industrial property located in Tempe, Arizona.  The purchase price for the
     property was approximately $7.5 million.  The property was purchased from
     Opus West, L.L.C.  Rental history has not yet commenced.

o    On December 9, 1997, the Company purchased a 100,000 square foot light
     industrial property located in Hicksville, New York.  The purchase price
     for the property was approximately $3.2 million.  The property was
     purchased from Sulzer Metco (U.S.) Inc.  This property was owner occupied
     prior to purchase.

o    On December 11, 1997, the Company purchased 28 light industrial properties
     totaling 919,843 square feet and two land parcels located in Tampa,
     Florida.  The purchase price for these properties and land parcels was
     approximately $47.3 million which was funded with $45.9 million in cash
     and the issuance of 42,101 Units valued at $1.4 million in the aggregate.
     The properties and land parcels were purchased from TR Developers,
     Thompson & Rubin, TRA Limited, Thompson Center II Joint Venture, Thompson
     Center Adamo, L.P., Thompson-Rubin Sunventure, Ltd., D.C. Thompson, Ltd.,
     TK Properties and Thompson Center II Joint Venture Land.  In connection
     with this acquisition, the Company completed negotiations with TK-SV to
     acquire an additional 44,427 square foot light industrial property for
     approximately $3.2 million.  This property acquisition will be funded with
     cash, the issuance of Units and the assumption of debt and is scheduled to
     close by January 31, 1998.

o    On December 16, 1997, the Company purchased a 215,000 square foot light
     industrial property located in Hicksville, New York.  The purchase price
     for the property was approximately $3.3 million.  The property was
     purchased from General Semiconductor, Inc.  This property was owner
     occupied prior to purchase.

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o    On December 19, 1997, the Company purchased a 98,052 square foot light
     industrial property located in Tempe, Arizona.  The purchase price for the
     property was approximately $10.3 million.  The property was purchased from
     Opus West Corporation.  Rental history commenced on November 10, 1997.



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                 ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

  (a)  and (b). Financial Statements.

                At this time it is impracticable to file the required financial
                statements and pro forma financial information.  The required
                financial statements and pro forma financial information will
                be filed in an amendment to this report on Form 8-K as soon as
                possible, but no later than sixty (60) days from the date on
                which this report on Form 8-K is required to be filed.


  (c).          Exhibits.
 
                None.




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                                   SIGNATURE


     Pursuant to the requirements of the Securities Exchange Act of 1933, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                           FIRST INDUSTRIAL REALTY TRUST, INC.




December 22, 1997          By: /s/  Michael J. Havala 
                               -----------------------------
                               Michael J. Havala
                               Chief Financial Officer
                               (Principal Financial and Accounting Officer)


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