Situated in the 1-270 Corridor, Milestone Business Park features 316,000 sf of usable space and pad sites that can be developed up to 450,000 sf. Telecommunications services provider Acterna--which occupied large spaces in both structures until it filed for bankruptcy protection two years ago--is the sole occupant of the park's 133,000-sf light manufacturing facility, while a handful of tenants call the park's 183,000-sf office structure home.

Among the recently signed tenants in the office facility are Internet climate alert service Weatherbug, which committed to 54,200 sf under a five-year agreement in November, and ACS Education Solutions/ACS State and Local Solutions, which signed a 10-year lease on 96,600 sf in October. And the future looks bright for increased occupancy on the campus, as the park features three undeveloped pad sites that can accommodate up to 150,000 sf of space, each.

For MEPT, the purchase of Milestone expands the company's presence in the local industrial property market; the real estate fund also owns the 150-acre Cloverleaf Center and the 56-acre Century Technology Campus, both of which neighbor Milestone.