ARLINGTON, TX-Weeks Robinson, an Atlanta-based real estate investment firm, has made its first acquisition in the Metroplex, buying a 505,000-square-foot industrial complex from Panattoni Development Co. The property, Forum 303 Crossing, was 40% occupied at the time of purchase.

The purchase price was undisclosed, but local experts say Weeks Robinson bought the two industrial buildings for less than replacement cost, which would be about $19 million. Weeks Robinson CEO Forrest Robinson tells GlobeSt.com that his firm acquired Forum 303 Crossing in an off-market deal.

Built in 2009, Forum 303 Crossing is still in the process of being stabilized. Robinson says the property represents a value-added opportunity. “We’re going to focus on leasing up the buildings at current market rents,” he says. “We like its location, value and quality.”