KKR Pays $137M for Inland Empire Warehouse

6300 Providence Way

KKR Real Estate Partners Americas III, a fund managed by KKR, has acquired a 281,000-square-foot warehouse in Eastvale, Calif. Parker House sold the property for $136.5 million, The Press-Enterprise reported. The asset last traded in 2017 for $23 million, according to CommercialEdge data.

KKR’s portfolio includes more than 45 million square feet of industrial space across several markets, totaling in excess of $7 billion in investments. The firm owns 20 properties and almost 1.3 million square feet of assets in California, according to CommercialEdge data. KKR is also planning major industrial ground-up developments, totaling 1.8 million square feet, in Atlanta, Dallas, Denver and Orlando, Fla.

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Completed in 2017, the property spans 11.9 acres and comprises a concrete building with 32-foot clear heights, a 148-foot truck court, loading doors, ESFR fire sprinklers, 52- by 60-foot bay spacing, trailer parking, as well as 238 parking spaces. Parker House Furniture is the single tenant of the building.

Located at 6300 Providence Way within the Ontario Chino submarket, the warehouse is some 3.3 miles west of Interstate 15, offering access to major commercial routes, as well as the Los Angeles International Airport and the Port of Los Angeles. Other major companies in the area include Flex Logistics, Weber Logistics, Yamibuy Warehouse and Delta Electronics Ltd.

The location is within walking distance of an industrial property acquired by Rexford Industrial in March. The company’s buying spree at the time also included properties in the South Bay, San Fernando Valley and the L.A.–Mid-Counties region.