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First Industrial Realty launches common stock offering

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.