Company: FR
Filing Date: 2025-05-08
Form Type: S-3ASR
Source: 0001193125-25-115162
Chunk: 2

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-08
Form: S-3ASR
Chunk 2
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, shares of preferred stock, which may be represented by
depositary shares, or guarantees of non-convertible debt securities issued by First Industrial, L.P., the operating partnership of First Industrial, L.P., and First Industrial, L.P. may offer and sell non-convertible debt securities, which may be guaranteed by First Industrial Realty Trust, Inc., through this prospectus from time to time, together or separately, in one or more offerings.

This prospectus describes some of the general terms that may apply to these securities. The specific terms of any securities to be offered
will be described in a supplement to this prospectus. You should carefully read this prospectus and the applicable prospectus supplement before making an investment decision.

We may offer and sell these securities, on a continuous or delayed basis, to or through one or more underwriters, dealers and agents, or
directly to purchasers or through a combination of these methods of sale.

Investing in the securities of First Industrial Realty Trust, Inc. or First Industrial, L.P. involves risks. See the “ Risk Factors” included on page 5 of this prospectus, in our Annual Report on Form 10-Kfor the year ended December 31, 2024 and in the applicable prospectus supplement.

The common stock of First Industrial Realty Trust, Inc. is listed on the New York Stock Exchange under the symbol “FR.” The closing
price of our common stock on the New York Stock Exchange was $48.57 on May 6, 2025. None of the other securities offered hereby are currently listed on a national securities exchange.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.

The date of this prospectus is May 7, 2025.

TABLE OF CONTENTS

|                                                                         |     | Page |    |
| ABOUT THIS PROSPECTUS                                                   |     |      |  1 |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS                    |     |      |  2 |
| THE COMPANY AND THE OPERATING PARTNERSHIP                               |     |      |  4 |
| RISK FACTORS                                                            |     |      |  5 |
| USE OF PROCEEDS                                                         |     |      |  6 |
| DESCRIPTION OF COMMON STOCK                                             |     |      |  7 |
| DESCRIPTION OF PREFERRED STOCK