First Industrial Realty Trust (FR) Announces 12.5M Public Share Offering

First Industrial Realty Trust, Inc. (NYSE: FR), a leading provider of industrial real estate supply chain solutions, today announced that it has priced a public offering of 12.5M shares of its common stock at a price of $5.25 per share.  The Company has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares to cover over-allotments, if any. The offering is expected to close on or about October 5, 2009.

The net proceeds are expected to be approximately $62.6M. The Company plans to use the net proceeds of the offering for general corporate purposes, which may include the repayment or repurchases of indebtedness. Pending such use, the proceeds are expected to be used to reduce the outstanding balance on the Company's unsecured line of credit.