The asset, located near Interstates 75 and 285 as well asHartsfield-Jackson International Airport, is described by KTR as ahighly functional, stabilized class A asset in a proven Atlantasubmarket. KTR now owns more than five million square feet in theSoutheast, with other properties in Florida and Tennessee.

"This is our first acquisition in Atlanta, and we look forwardto growing our presence in the market," says P.J. Charlton, KTRsenior vice president of investments. He adds that the firm isseeking other industrial investment opportunities locally and inother major US logistics markets, including direct propertyacquisitions, equity recapitalizations and debt purchases.

The Airport/South Atlanta industrial submarket has vacancy justabove 10%, putting it on par with the entire metropolitan area,according to Cushman & Wakefield. Asking rents forwarehouse/distribution space were $3.23 per square foot at the endof last year.