Joseph Bae Of KKR Acquires 625308-SF Warehouse From Hendrik Venter Of DHL Supply Chain For $192M

The industrial asset located at 10030 Eastport Road in Jacksonville encompasses 49.8 acres and includes a 625,308-square-foot refrigerated warehouse known as “Project Empire.” The facility, designed primarily for logistics and distribution in the Southeast U.S., features a 36-degree cooler, dry warehouse space, and an office area of 12,500 square feet. The transaction was completed for a sale price of $192,000,000.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $192,000,000
• Buyer: Joseph Bae - KKR
• Seller: Hendrik Venter - DHL Supply Chain
• Lender: Forethought Life Insurance
• Size: 625,308 square feet
• Price per Square Foot: $307
• Acreage: 49.8

Joseph Bae represented KKR in the acquisition of the property, while Hendrik Venter was the representative for DHL Supply Chain in this transaction, which was facilitated with financing of $140.5 million from Forethought Life Insurance. The facility was constructed by Arco National Construction.