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ATLANTA — Basis Industrial has purchased a 25-building portfolio of shallow-bay facilities in metro Atlanta for $89.5 million. The portfolio features 18 buildings in Stone Mountain and seven assets in Tucker totaling more than 620,000 square feet. The properties were occupied by 119 tenants at the time of sale with a weighted average lease term of 2.2 years.
Middour Investments sold the portfolio to Basis Industrial, growing the firm’s Atlanta-area holdings to 1.2 million square feet. Bank of Montreal provided an undisclosed amount of acquisition financing to the buyer.