First Industrial Realty Trust Inc. (NYSE:FR) Q3 2016 Earnings Conference Call - Final Transcript
Oct 28, 2016 • 11:00 am ET
Good morning. My name is Nicole, and I will be your conference operator today. At this time, I would like to welcome everyone to the First Industrial Third Quarter Results Call. [Operator Instructions] I would now like to hand the conference over to Mr. Art Harmon, Vice President of Investor Relations. Please go ahead, sir.
Thanks Nicole. Hello, everyone, and welcome to our call. Before we discuss our third quarter 2016 results, let me remind everyone that our call may include forward-looking statements as defined by federal securities laws. These statements are based on management's expectations, plans and estimates of our prospects. Today's statements may be time-sensitive and accurate only as of today's date, Friday, October 28, 2016. We assume no obligation to update our statements or the other information we provide. Actual results may differ materially from our forward-looking statements, and factors which could cause this are described in our 10-K and other SEC filings.
You can find a reconciliation of non-GAAP financial measures discussed in today's call in our supplemental report and our earnings release. The supplemental report, earnings release and our SEC filings are available at firstindustrial.com under the Investors tab.
Our call will begin with remarks by Bruce Duncan, our Chairman and CEO; our President, Peter Baccile; and Scott Musil, our CFO, after which we will open it up for your questions. Also on the call today are Jojo Yap, our Chief Investment Officer; Peter Schultz, Executive Vice President; Chris Schneider, Senior Vice President of Operations; and Bob Walter, Senior Vice President of Capital Markets and Asset Management.
Now, let me turn the call over to Bruce.
Thanks Art, and thanks to everyone for joining us today. As Art noted, we have members of our management team assembled today for this call, including one new addition, Peter Baccile. Peter, welcome. As you know, Peter will be taking over the reins as CEO on December 1, and we are very pleased to have him onboard. And I will ask him to offer a few comments before we get into the business of the quarter and the state of the industrial real estate market.
Thanks so much Bruce. I'm honored and humbled to be chosen to lead First Industrial and build upon the accomplishments and track record that Bruce and the team have achieved. Bruce will leave some big shoes to fill, but he has also assembled a talented team of hardworking and dedicated people. He has orchestrated a significant enhancement to assets of this company since he took the helm in 2009. And he and the team have worked diligently to reestablish a strong balance sheet and an investment-grade credit rating. I look forward to working with the team to continue to grow our presence in our target markets, further enhance the portfolio and maintain a balance sheet and credit profile that will outperform through the cycle.
Since I joined the Company on September 29, I've spent the vast majority of my time on the road, seeing our