KKR acquires industrial assets in Phoenix, Atlanta for $250m
KKR has taken ownership of an industrial park in Phoenix and an industrial warehouse in Atlanta. The newly constructed class A properties were acquired in two separate transactions from two different sellers for an aggregate purchase price of around $250 million.
Strategically located in Phoenix’s Southwest Valley industrial submarket, the Arizona property consists of three high-quality buildings totaling 1.3 million square feet. The Georgia property is located in Palmetto, close to the CSX Fairburn Intermodal Terminal and the Atlanta airport. The warehouse stands at around 700,000 square feet.
“We are pleased to further expand our industrial footprint in these markets, which continue to benefit from attractive growth fundamentals including positive demographic trends and onshoring manufacturing trends,” said Ben Brudney, a director in KKR’s real estate group. “We are seeing resilient demand for high-quality, well-located industrial product, and we believe de