NEWPORT BEACH, CA-Locally based KBS Capital Advisors has sold a seven-asset, 2.1-million-square-foot portfolio of industrial properties in five states to Plymouth Meeting, PA-based Exeter Property Group, according to CB Richard Ellis, which brokered the transaction on behalf of KBS. The portfolio includes 10 buildings throughout Georgia, Michigan, Minnesota, Ohio and Texas and was 78% leased at the time of sale.

The portfolio consists primarily of single-tenant, net-leased, bulk distribution buildings. The offering "provided investors the rare opportunity to purchase a critical mass of institutionally owned and maintained, highly functional industrial buildings in desirable, geographically diverse locations," according to CBRE's announcement regarding the sale.

Properties within the portfolio included Midland, three 100%-leased buildings in Atlanta, totaling 785,790 square feet; Suwannee Pointe, a 100%-leased 205,645-square-foot facility in Atlanta; Crystal Park, two 92%-leased buildings in Austin, totaling 240,452-square feet; Advo-Valassis, a 100%-leased, 160,464-square-foot building in Detroit; Cardinal Health, a 100%-leased 221,750-square-foot building in Minneapolis; Cedar Bluffs, a 81,329-square-foot, 76% leased building in Minneapolis; and Park 75, a 427,920-square-foot vacant building in Cincinnati.