Company: FR
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118941
Chunk: 6

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-13
Form: 424B5
Chunk 6
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 executive offices are located at One North Wacker Drive, Suite 4200, Chicago, Illinois 60606, telephone number (312) 344-4300.
Our website is located at http://www.firstindustrial.com. The information on or linked to our website is not a part of, and is not incorporated by reference into, this prospectus.

S-4

THE OFFERING The following contains basic information about the notes and is not complete. It does not contain all of the information that is important to you. For a more complete understanding of the notes, please refer to the sections entitled “Description of Notes” in this prospectus supplement and “Description of Debt Securities and Related Guarantees” in the accompanying prospectus. Unless otherwise expressly stated or the context otherwise required, references under this caption “The Offering” to First Industrial, L.P. or the Operating Partnership refer to First Industrial, L.P., excluding its subsidiaries, and references to First Industrial Realty Trust, Inc. or the Company refer to First Industrial Realty Trust, Inc., excluding its subsidiaries.

| Issuer of Notes | First Industrial, L.P. |

| Guarantor | First Industrial Realty Trust, Inc. |

| Securities Offered | $450,000,000 aggregate principal amount of 5.250% Senior Notes due 2031. |

(1) (a) the sum of the present values of the remaining scheduled payments of principal and interest on the notes discounted to the redemption date (assuming the notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-dayyear consisting of twelve 30-daymonths) at the Treasury Rate (as defined herein) plus 20 basis points, less (b) interest accrued to the date of redemption, and (2) 100% of the principal amount of the notes to be redeemed

| plus, in each case, accrued and unpaid interest thereon to, but excluding, the redemption date. |

| On or after the Par Call Date, the Operating Partnership may redeem the notes, at its option, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 
 notes being redeemed plus accrued and unpaid interest on the notes to be redeemed to, but excluding, the redemption date. See “Description of Notes—The Operating Partnership’s redemption rights.”                      |

| Ranking of Notes | The notes will be the Operating Partnership’s senior unsecured obligations and will rank equally in