Basis, OneIM Seed JV With $145M Buy

Basis Industrial and One Investment Management have purchased a shallow bay industrial portfolio for $144.6 million. The 839,001-square-foot collection includes five properties in the Atlanta and Orlando, Fla., metros.

Albany Road Real Estate Partners sold the assets and BMO Bank issued a $105.5 million acquisition loan, according to Yardi Matrix information.

Albany Road got a 24.3 percent premium for the portfolio when compared to the previous sale prices, the same data provider shows. The company had picked up the five properties in three different transactions between 2021 and 2022 for a combined $116.3 million.

Basis President & Managing Partner Anthony Scavo represented the buyer, while Albany Road Managing Partner Luke Colbert represented the seller in the current transaction. Walker & Dunlop Co-Head Jonathan Schwartz, Senior Managing Director Aaron Appel and Managing Director Michael Brown sourced the debt.

The joint venture’s first purchase

The off-market transaction is the first acquisition part of a programmatic joint venture, set to aggregate and own between $1 billion and $1.5 billion in industrial assets across the U.S. The deal also marks Basis Industrial’s entrance in the Atlanta metro.

Walker & Dunlop Co-Head Mo Beler, together with Managing Directors Jonathan Paine and Cory Elbaum, arranged the programmatic equity raise.

Portfolio close-up

The metro Atlanta properties constitute the 558,074-square-foot Breckinridge Shallow Bay Portfolio in Duluth, Ga. According to Yardi Matrix, the collection consists of:

• Park Creek, a 183,000-square-foot, two-building campus
• Breckinridge Exchange, a 144,000-square-foot complex with four facilities
• Breckinridge Center, a five-building property encompassing 233,000 square feet.

All three assets are on Breckinridge Boulevard within a 1-mile radius of each other and cover a combined 54 acres. The Breckinridge portfolio is close to Interstate 85, roughly 15 miles from DeKalb Peachtree Airport. Completed between 1985 and 1999, these properties are mainly Class C assets with flex industrial and office configurations. Albany Road paid $ 64.8 million for the trio in 2021, Yardi Matrix data shows.

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The Orlando portfolio includes:

• Lake Point Business Park, a 134,389-square-foot campus
• Challenger South I and II, a two-building property totaling 146,538 square feet.

Lake Point Business Park is at 6200 Hazeltine National Drive in Southeast Orlando. Built in 1985 on 6 acres, the six-building complex is close to the city’s international airport and State Route 436. The property previously changed hands in 2022, when TerraCap sold it for $24 million.

Challenger South I and II is at 12600 Challenger Parkway, in the University submarket of Orlando. Developed in phases between 2005 and 2007, the property occupies approximately 16 acres near Florida State Road 50 and 24 miles from Orlando Sanford International Airport. The asset previously traded for $27.5 million in 2022.

Two Southeast industrial markets

Both Atlanta and Orlando have experienced strong industrial sales during the first two months of 2026.

Atlanta has witnessed $429 million in industrial investment, ranking fourth among the top 25 U.S. markets, a recent Yardi Matrix report shows. Properties sold at $130 per square foot—below the $144 national average.

In one of the transactions, Link Logistics purchased a three-building industrial portfolio in Kennesaw, Ga. Atlanta Property Group sold the collection for 32 percent less than the previous purchase price.

As for Orlando, the metro’s sales volume amounted to $343 million year-to-date as of February. The average price reached nearly $148 per square foot, slightly above the national average.

The largest deal involved Crossroads Distribution Center, a four-building campus in Orlando. Swift Creek Partners paid roughly $95 million for the fully leased asset in February.