Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

ATLANTA-Dallas-based real estate firm Crow Holdings has acquired the MK Industrial Portfolio for more than $100 million. The portfolio consists of 38 light distribution and bulk warehouse buildings totaling 2.9 million sf.

The properties are located less than seven miles from Interstate 285, the inner ring beltway of Atlanta. They are currently 80% occupied with 113 tenants. CB Richard Ellis has been retained to provide leasing and management of the portfolio. Dan Feeney, of Crow Holdings, tells GlobeSt.com that this is not Crow’s first industrial acquisition in Atlanta, but it is “by far and away the largest.” Crow does not have plans to improve the properties, but will focus on leasing in two buildings that have significant vacancies. “Most of the buildings in the portfolio are better than 90% occupied. So our efforts will be concentrated with these two buildings,” Feeney says.

Crow chose to acquire the properties for several reasons, including their locations in in-fill areas with strong growth and that they are multi-tenanted properties. “We look for industrial product that serves the area it’s located in, rather than regionally,” Feeney says.

The acquisition marks the third made on behalf of Crow Holdings’ latest real estate fund, Crow Holdings Realty Partners IV, LP (Fund IV), which was established to acquire or develop a broad range of property classes across the US including retail, industrial, multifamily, office, hotel and land investments. Fund IV is the largest fund sponsored by Crow Holdings with equity commitments totaling approximately $850 million.

With a $150-million contribution, Crow Holdings is the large investor in the fund. Other investors include endowments, foundations, pension funds and high net-worth individuals. “This acquisition represents a rare opportunity to acquire a sizeable position in one of the top five industrial markets in the US,” Feeney says. “These properties will provide Crow Holdings with the ability to generate new real estate opportunities that include tenant expansions and build-to-suits.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.