Crow Holdings Capital JV sells Arizona industrial park for $90m

KKR has paid $90 million for 101 at Van Buren, a newly constructed industrial park consisting of two class A buildings located in Phoenix’s Southwest Valley industrial submarket, from a real estate fund advised by Crow Holdings Capital and Seefried Industrial Properties.

The property is strategically located in close proximity to major transportation nodes, including Interstate 10 and Arizona State Route 101, and has more than 600,000 square feet of space with state-of-the-art physical features designed for multitenant occupancy. The buildings were delivered in June 2022 and feature more than 135-foot truck courts and 36-foot clear heights.

“We are excited to add 101 at Van Buren to our portfolio,” said Ben Brudney, a director in the real estate group at KKR, who oversees the firm’s industrial investments in the United States. “We continue to invest in high-quality industrial real estate to meet the needs of modern supply chains and are encouraged by the cont