Land & Buildings Nominate Founder to First Industrial Board (1)

Activist investor Land & Buildings Investment Management is escalating its campaign against First Industrial Realty Trust Inc., with plans to nominate founder Jonathan Litt to the board of the warehouse-property owner, according to a letter reviewed by Bloomberg News.

Land & Buildings, which disclosed its push to improve the company’s performance late last year, has nominated Litt as a director candidate at the company’s 2026 annual shareholder meeting, according to the letter Thursday to shareholders. Chairman Matthew Dominski and board member H. Patrick Hackett Jr. should stand down, Litt said in the letter.

“We strongly believe that a board ...