Activist investment firm Land & Buildings recently issued a public call to the board of First Industrial, urging them to take decisive action.

The institution proposed that if the company fails to significantly narrow the discount rate between its share price and net asset value within the next six months, the board should immediately authorize the initiation of a formal evaluation process for strategic alternatives. Such evaluations typically include options that may enhance shareholder value, such as asset sales, company mergers, or privatization.