KKR & Co, Inc. (NYSE: KKR) has acquired today the industrial property in Phoenix for $32 million. This acquisition will help KKR in establishing its footprint in the Phoenix market. Class A property which was built in 2001 and has a 32-foot height is located in Southwest Valley in Phoenix. The Industrial property was 100% rented at purchase to a high-quality holder for nearly five and a half years.
KKR bought the property from Cohen Asset Management and Cushman & Wakefield arranged the transaction. KKR is performing the financing through its Real Estate Partners Americas Fund II. The company disclosed that it is looking forward to speeding up e-Commerce penetration as the Phoenix market is very attractive.