KKR has made its first industrial real estate acquisition in the Denver market.
The compnay has purchased Park 12 Hundred, a three building industrial park totaling approximately 290,000 square feet in Westminster, Colorado. The purchase price was not disclosed.
“We are excited to expand our industrial real estate portfolio into Denver,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas. “Denver is an important market, given its strong population growth and increased industrial demand, and one we’re looking forward to being a part of.”
The property was completed in 2018 with state of the art features and is located near Interstate 25, a major arterial thoroughfare that provides access to downtown Denver in less than thirty minutes.
KKR acquired the asset directly from the developers, Conor Commercial Real Estate and WHI Real Estate Partners. Will Strong of Cushman & Wakefield assisted in the transaction’s execution.