Basis Industrial and One Investment Management acquired an 839,001-square-foot shallow bay industrial package spanning the Atlanta and Orlando markets for $144.6 million. Albany Road Real Estate Partners was the seller.

The acquisition was completed as part of a joint venture between Basis Industrial and OneIM that, including leverage, is expected to aggregate and own between $1 billion and $1.5 billion in industrial properties across the United States.

The off-market acquisition includes the Breckinridge Shallow Bay Portfolio in Duluth, Ga., totaling 558,074 square feet; Lake Point Business Park in Orlando, Fla., totaling 134,389 square feet; and Challenger South I and II in Orlando, Fla., totaling 146,538 square feet.

Basis Industrial was represented by Anthony Scavo. Luke Colbert of Albany Road represented the seller.

Mo Beler of Walker & Dunlop Capital Markets Equity and Structured Finance, advised on the equity raise, along with Jonathan Paine, Cory Elbaum and Jackson Irwin. Aaron Appel, Jonathan Schwartz and Michael Brown of Walker & Dunlop Capital Markets Institutional Advisory assisted in sourcing the debt for the project.