Benzinga | Nov 30, 2021 05:05PM EST

KKR Acquires Vista, California Industrial Property From Westcore; Terms Not Disclosed

KKR, a leading global investment firm, and San Diego-based Westcore, a leading industrial real estate acquisition, development and asset management firm, today announced that Westcore has sold an approximately 197,000-square-foot industrial warehouse ("Vista Commerce") located in Vista, California toKKR.

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Westcore sold an approximately 185,000-square-foot industrial warehouse in Vista, California to KKR. (Photo credit: CBRE)

Vista Commerce is located on an all-concrete site and features 14 dock-high doors, six grade-level doors, 27-foot clear height and ample power. The property is 100% leased to a publicly listed healthcare diagnostic testing company.

"We are pleased grow our industrial real estate footprint in Southern California with the purchase of this well-located and fully leased industrial distribution property," said Ben Brudney, a Director in the real estate group at KKR who oversees the firm's industrial investments in the United States.

"The interior upgrades to the office area and warehouse space we made provided a highly functional space that attracted a leading healthcare company," said Westcore Managing Director Hack Adams. "With a high-quality tenant in place and a strategic location in close proximity to high-demand life sciences submarkets, KKR has acquired a valuable asset."

CBRE represented Westcore in the sale. Westcore acquired Vista Commerce in early 2020 with assistance from CBRE, who also helped secure the lease to the current tenant.

KKR acquired Vista Commerce through its KKR Real Estate Partners Americas III fund.