KKR has purchased two industrial distribution properties totaling approximately 2.5 million square feet for an aggregate purchase price of approximately $260 million. The two properties are the first industrial properties acquired by KKR’s core-plus real estate strategy.
The newly acquired properties are located in the major markets of Chicago and Charlotte. Both are state-of-the-art fulfillment centers with an average 2017 vintage. The properties were 100 percent leased at acquisition to a high-quality, investment-grade tenancy on a long-term basis. The properties were acquired through separate transactions with two different sellers.
“We are excited to increase our footprint in these major distribution markets with the addition of two high-quality, stable assets,” said Roger Morales, KKR partner and head of commercial real estate acquisitions in the Americas. “We believe that the current environment will lead to continued acceleration of e-commerce penetratio
