Industrial is the safest asset class among the commercial real estate sectors, according to some CRE analysts, and the announcement this week that KKR has completed the sale of over 5 million square feet of industrial warehouse and distribution properties for a total aggregate value of over $560 million confirms its value.
The sales, primarily consisting of assets in KKR's Real Estate Partners Americas II fund, included over 50 industrial buildings located in high-growth, infill markets across Atlanta, Dallas-Fort Worth, Chicago, the Lehigh Valley, and Central Pennsylvania.
The dispositions were completed through five discrete transactions with five separate buyers. The fifth and final sale closed on Sept. 29.
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