Company: FR
Filing Date: 2025-08-21
Form Type: 424B5
Source: 0000921825-25-000095
Chunk: 17

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-08-21
Form: 424B5
Chunk 17
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 our expectations will be attained or that results will not materially differ.

Factors that could have a materially adverse effect on our operations and future prospects include, but are not limited to:

• changes in national, international, regional and local economic conditions generally and real estate markets specifically;

• changes in legislation/regulation (including changes to laws governing the taxation of real estate investment trusts) and actions of regulatory authorities;

• our ability to qualify and maintain our status as a real estate investment trust;

• the availability and attractiveness of financing (including both public and private capital) and changes in interest rates;

• the availability and attractiveness of terms of additional debt repurchases;

• our ability to retain our credit agency ratings;

• our ability to comply with applicable financial covenants;

• our competitive environment;

• changes in supply, demand and valuation of industrial properties and land in our current 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;

• risks associated with international trade disputes, including threatened or implemented tariffs imposed by the U.S. and threatened or implemented tariffs imposed by foreign countries in retaliation or otherwise;

• 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;

• 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

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• other risks and uncertainties detailed in the section entitled “Risk Factors” beginning on page S-4of this prospectus supplement and those 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 supplement. We assume no obligation to update