KKR Acquires Industrial Asset In Missouri City For $234M

The industrial property located at 9021 South Sam Houston Parkway West in Missouri City was sold in a transaction involving Ben Brudney, Henry Kravis, and George Roberts from KKR as the buyers, acquiring the property from Samir Manji of Artis Real Estate Investment Trust. The sale price for this 127-acre asset was set at $234,000,000, with a total square footage of 1,800,000 and a price per square foot of $130. The property is an industrial complex fully leased to notable tenants such as Comcast and VWR International.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $234,000,000
• Buyer: Ben Brudney, Henry Kravis & George Roberts - KKR
• Seller: Samir Manji - Artis Real Estate Investment Trust
• Broker: JLL
• Address: 9021 South Sam Houston Parkway West
• Market: Missouri City
• Acres: 127
• Square Footage: 1,800,000
• Price Per Square Foot: $130

The acquisition of the Park 8Ninety industrial complex in Houston by KKR marks the second-largest warehouse deal in the area. This strategic move by KKR to expand its industrial portfolio in high-demand, low-supply markets aligns with their growth strategy. On the other hand, Artis Real Estate Investment Trust's decision to sell the property is part of its broader plan to liquidate assets amidst shifting market dynamics in Houston.