The property is strategically located in close proximity to major transportation nodes, including Interstate Highway 10 (I-10) and Arizona State Route 101 (Loop 101), and has over 600,000 square feet (“SF”) of space with state-of-the-art physical features designed for multi-tenant occupancy. The buildings were delivered in June 2022 and feature 135’+ 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 continued momentum in the Phoenix market, including strong leasing velocity.”
The purchases were made through KKR Real Estate Partners Americas III, KKR’s Americas opportunistic equity real estate fund. Across its funds in the U.S., KKR has committed or acquired approximately $7 billion of logistics assets in the industrial sector since 2018 and currently owns over 45 million SF of industrial real estate in major U.S. metropolitan areas.
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities.