The assets will join KKR's Alpha Industrial Properties portfolio, bringing the total portfolio to ten million square feet across eight high-growth markets in the U.S.

The sale kicks off the REIT's shift in focus to its experiential real estate, which will include casino assets.

Grady has been with PIDC, the non-profit, economic development partnership founded by the city and Chamber of Commerce, for 21 years.

The 10-story property was sold to a private investor for $11.6 million, according to Gebroe-Hammer's David Oropeza, who represented the seller and procured the buyer of the 76-unit property.