First Industrial Realty Trust Inc. kicked off an offering of 2,560,000 common shares, with proceeds earmarked for general corporate purposes.

Based on the company's June 12 closing price of $30.04 per share, gross proceeds are expected to come to approximately $76.9 million.

First Industrial said it may use the funds for property development and acquisitions and debt repayments.

UBS Investment Bank is the sole underwriter for the public offering.