First Industrial Realty Trust Appoints Frank E. Schmitz to Board

Company also announces $250 million share repurchase program and plans market tours for investors and analysts in 2026

Mar. 17, 2026 at 2:14am

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First Industrial Realty Trust, Inc., a leading owner, operator and developer of logistics real estate, announced that Frank E. Schmitz will be appointed to the company's Board of Directors effective June 1, 2026. The company also authorized a new $250 million share repurchase program and plans to host a series of market tours for investors and analysts during 2026.

Why it matters

The appointment of Frank Schmitz, a veteran real estate investment and capital markets executive, will bring valuable expertise to First Industrial's Board as the company looks to capitalize on growth opportunities in its portfolio and development pipeline. The new share repurchase program and planned market tours also demonstrate the company's confidence in its financial position and commitment to enhancing shareholder value.

The details

Frank Schmitz, who currently serves as a Senior Advisor at PJT Partners, will join First Industrial's seven-member Board, six of whom will be independent directors. Schmitz has nearly four decades of global real estate investment and capital markets experience, including co-founding Park Hill Real Estate Group which was later acquired by PJT Partners. Prior to that, he held leadership roles at Principal Real Estate Investors and CenterPoint Properties. The Board also authorized a new $250 million share repurchase program, which will complement the company's capital allocation strategy, and announced plans to host a series of market tours for investors and analysts in 2026 to provide updates on the business.

  • Frank Schmitz will be appointed to First Industrial's Board of Directors effective June 1, 2026.
  • The new $250 million share repurchase program has no expiration date and may be amended, suspended or discontinued by the Board at any time.

The players

First Industrial Realty Trust, Inc.

A leading U.S.-only owner, operator, developer and acquirer of logistics properties, with approximately 71.6 million square feet of industrial space concentrated in 15 target MSAs as of December 31, 2025.

Frank E. Schmitz

A veteran real estate investment and capital advisory executive with nearly four decades of global experience spanning lending, investment, development, capital markets and cross-border capital flows. He currently serves as a Senior Advisor at PJT Partners.

Matthew S. Dominski

Chairman of the Board of Directors of First Industrial Realty Trust.

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What they’re saying

“We look forward to welcoming Frank to our Board of Directors. He brings decades of global real estate investment and capital markets experience, as well as deep relationships across the institutional investor community. Frank's insights into capital formation, portfolio strategy and investment trends will be invaluable as we continue capitalizing on the significant opportunities in our portfolio and development pipeline to drive further cash flow growth and value for First Industrial stockholders.”

— Matthew S. Dominski, Chairman of the Board of Directors (PR Newswire)

“It will be a privilege to join the First Industrial Board. The Company has built a strong reputation as a leader in industrial real estate, supported by a disciplined strategy and a demonstrated history of value creation, as evidenced by the Company's proven track record of delivering superior returns for investors. I look forward to working with the other members of the Board and management team to support the Company's continued success.”

— Frank Schmitz (PR Newswire)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This appointment of a seasoned real estate investment executive to First Industrial's Board, along with the new share repurchase program and planned market tours, demonstrate the company's focus on driving continued growth and shareholder value through strategic capital allocation and transparent communication with the investment community.