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KKR Snaps Up 1.1M-SF Warehouse to Enter Atlanta Industrial Space
KKR has entered the Atlanta industrial market via an acquisition by KKR Real Estate Select Trust Inc. The closed-end fund acquired a 1.1-million square-foot, Class A industrial warehouse at Southern Gateway at Lambert Farms in McDonough, GA for an undisclosed sum from PNK Group, an international real estate developer.
Completed in 2020, the warehouse is centrally located in Atlanta’s logistics corridor. The property is 100% triple-net leased to two high-quality tenants—a leading publicly traded direct-to-consumer mattress company and a logistics and supply chain company—with a weighted average lease term of approximately 10 years.
“Today’s acquisition represents another important milestone for KKR as we continue to develop and diversify our industrial footprint and KREST portfolio,” said Ben Brudney, a director in the real estate group at KKR, who oversees the firm’s industrial investments. JLL brokered the sale on behalf of PNK.
Image courtesy of Pattillo Construction.
- ◦Sale/Acquisition
