Basis Industrial and One Investment Management have quietly scooped up a cluster of shallow-bay warehouses in the Stone Mountain and Tucker pockets of metro Atlanta this month, paying about $89.5 million for a mid-sized, multi-tenant portfolio. The buy covers roughly 622,000 square feet across about 25 buildings and hands the partners an instant foothold in northeast Atlanta. The move follows Basis’s recent, larger shallow-bay acquisition that stretched into Florida and, according to brokers and local owners, is one more sign that investors are still hungry for infill small-bay industrial close to rooftops.
Deal details and the seller
According to ConnectCRE, the off-market deal closed May 15 at a price of $89.5 million, with the buyers taking down 621,759 square feet across 25 buildings. Market listings and deal notices identify Middour Investments as the seller and show acquisition financing from Bank of Montreal, as reported by Traded and Bisnow. CoStar News has likewise pegged the package at roughly two dozen small buildings trading for about $90 million.
What's in the portfolio
The buildings are grouped along West Park Place Boulevard, Parker Court, Mountain Industrial Boulevard and North Royal Atlanta Drive in Stone Mountain and Tucker. Buyer materials and market notices cited in local coverage put the tenant count at about 119, with a weighted-average lease term of roughly 2.2 years. The assets were built between the early 1980s and the mid-1990s, which gives the joint venture near-term mark-to-market potential as leases roll and the new ownership team works toward stabilization, according to market writeups.
Why investors are buying shallow-bay now
Shallow-bay, small-format industrial space has held up better than the big-box logistics segment in recent quarters, thanks to limited infill supply and a tenant base that skews toward local and regional users. CBRE's Q1 2026 Atlanta industrial report points to a rebalancing market and notes relatively stronger performance in smaller, infill product, which helps explain trades like this one. The acquisition is also the second for the Basis and One Investment Management joint venture, which launched earlier this spring with a $144.6 million shallow-bay portfolio across Atlanta and Orlando, according to CityBiz.
What buyers plan to do next
Buyer materials and industry notices indicate that Basis is lining up targeted renovations, new leasing campaigns and unit-level upgrades aimed at boosting occupancy and nudging rents higher where the market allows. ConnectCRE reports that the firm plans hands-on management and a focused capital program to capture mark-to-market opportunities while it works to stabilize income. With acquisition financing already in place, brokers say the programmatic joint venture has room to methodically roll out improvements across the campuses rather than rushing the play.
For tenants in Stone Mountain and Tucker, a new landlord likely means quicker responses on deferred maintenance and slicker leasing marketing, paired with the possibility of rent resets where spaces see upgrades. For the broader market, the trade is another signal that institutional and programmatic capital is still actively chasing Atlanta’s small-bay industrial deals, especially infill, value-add plays, even as conditions in the larger big-box segment soften.
