Company: FR
Filing Date: 2025-05-08
Form Type: S-3ASR
Source: 0001193125-25-115162
Chunk: 5

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-08
Form: S-3ASR
Chunk 5
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 and potential market 
 areas;                                                                                                        |

| • |     | our ability to identify, acquire, develop and/or manage properties on favorable terms; |

| • |     | our ability to dispose of properties on favorable terms; |

| • |     | our ability to manage the integration of properties we acquire; |

| • |     | potential liability relating to environmental matters; |

| • |     | defaults on or non-renewal of leases by our tenants; |

| • |     | decreased rental rates or increased vacancy rates; |

| • |     | higher-than-expected real estate construction costs and delays in development or 
 lease-up schedules;                                                              |

| • |     | the uncertainty and economic impact of pandemics, epidemics or other public health emergencies or fear of such 
 events;                                                                                                        |

| • |     | risks associated with security breaches through cyber attacks, cyber intrusions or otherwise, as well as other 
 significant disruptions of our information technology networks and related systems;                            |

| • |     | potential natural disasters and other potentially catastrophic events such as acts of war and/or terrorism; |

2

| • |     | technological developments, particularly those affecting supply chains and logistics; |

| • |     | litigation, including costs associated with prosecuting or defending claims and any adverse outcomes; |

| • |     | risks associated with our investments in joint ventures, including our lack of sole decision-making authority; 
 and                                                                                                            |

| • |     | other risks and uncertainties described in our Exchange Act reports and in our other public filings with the SEC. |

We caution you not to place undue reliance on forward-looking statements, which reflect our outlook only and speak only as of the date of this prospectus. We assume no obligation to update or supplement forward-looking statements. Further information concerning us and our business, including additional factors that could materially affect our financial results, is included elsewhere in this prospectus and in the documents we incorporate by reference in this prospectus. 3

THE COMPANY AND THE OPERATING PARTNERSHIP

The Company is a real estate investment trust, or REIT, subject to Sections 856 through 860 of the Internal Revenue Code of 1986, as amended
(the “Code”). We are a self-administered and fully integrated real estate company which owns, manages, acquires, sells, develops, and redevelops industrial real estate. As of March 31, 2025, we owned 416 industrial properties located
in 19 states, containing an