MCDONOUGH, GA-Newport Beach, CA-based KBS REIT has acquired the Midland Industrial Portfolio in Henry County for $37.1 million. The seller was Nevada-based DP Partners.

The portfolio consists of three class A bulk distribution buildings with a total of 785,790 sf at 90 King Mill Rd., 197 King Mill Rd. and 220 Midland Court. "The buildings are relatively new so there is not much deferred maintenance on them," KBS REIT acquisitions director Peter Doherty tells GlobeSt.com. "We also liked the physical layout of the buildings. Most of the buildings in Henry County have larger formats."

Constructed in 1998 to 2000, the one-story tilt-up concrete buildings are 100% occupied by Ozburn Hessey Logistics LLC, a Brentwood, TN-based privately held third party logistics provider in the US. The company handles logistics for retail food distributors such as Gerber, NutriSystems, Bumble Bee Foods, among other companies. The buildings are located close to Interstate 75 in the airport/South Atlanta submarket and are close to Norfolk Southern railroad access and the Hartsfield-Jackson International Airport.

"The property has a committed, long-term tenant in place and an A+ location near Atlanta, one of the nation's top ten industrial markets," KBS REIT CEO and chairman Charles Schreiber says.

DP Partners was represented by Chris Riley, Brian Budnick, Frank Fallon and Brad Rodgers of CB Richard Ellis' Atlanta office.

While this is KBS REIT's first industrial acquisition in the Atlanta area, the company is not new to the market. It also owns 500,000 sf of office space, among other ventures in the area. "We hope to invest more in Atlanta," Doherty says.