Company: FR
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118941
Chunk: 1

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-13
Form: 424B5
Chunk 1
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 |        |   |     | Total |             |
|:-----------------------------------------------------|:----|:---------|-------:|:--|:----|:------|------------:|
| Public offering price(1)                             |     |          | 99.265 | % |     | $     | 446,692,500 |
| Underwriting discount(2)                             |     |          |  0.650 | % |     | $     |   2,925,000 |
| Proceeds, before expenses, to First Industrial, L.P. |     |          | 98.615 | % |     | $     | 443,767,500 |

| (1) | Plus accrued interest from May 14, 2025 if settlement occurs after that date. |

| (2) | See “Underwriting”. |

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement and the accompanying prospectus are truthful or complete. Any representation to the contrary is a criminal offense. The underwriters expect to deliver the notes in book-entry form only through the facilities of The Depository Trust Company for the accounts of its participants, including Clearstream Banking, société anonyme, and Euroclear Bank S.A./N.V., as operator of the Euroclear System, against payment on or about May 14, 2025. Joint Book-Running Managers

| J.P. Morgan |     | PNC Capital Markets LLC |     | Wells Fargo Securities |     | RBC Capital Markets |

| US Bancorp |     | BofA Securities |     | Regions Securities LLC |     | Fifth Third Securities |     | Citigroup |

Co-Manager Ramirez & Co., Inc. The date of this prospectus supplement is May 12, 2025.

TABLE OF CONTENTS

|                                                      |     | Page |      |
| Prospectus Supplement                                |     |      |      |
| ABOUT THIS PROSPECTUS SUPPLEMENT AND THE PROSPECTUS  |     |      | S-1  |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS |     |      | S-2  |
| PROSPECTUS SUPPLEMENT SUMMARY                        |     |      | S-4  |
| THE OFFERING                                         |     |      | S-5  |
| RISK FACTORS                                         |     |      | S-9  |
| USE OF PROCEEDS                                      |