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August 11, 2020
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BKM Capital Partners Closes $425 Mil Industrial Portfolio Buy


BKM Capital Partners has acquired a portfolio containing 11 industrial properties located in Phoenix, Northern California, Southern California, and Portland, OR. The portfolio, totaling 2.67 msf of space, sold for $425.4 mil ($159/sf).

BKM acquired eight of the properties through BKM Industrial Value Fund II and three of the properties in partnership with the Canyon Catalyst Fund, Canyon Partners’ real estate emerging manager program managed on behalf of the California Public Employees’ Retirement System. The portfolio, containing 493 units, is nearly 90% occupied.

According to Barbara Rea, Chief Operating Officer of BKM Capital Partners, these properties fit into the firm’s strategy of enhancing value through substantial capital improvements, strategic interior-unit sizing, and cosmetic improvements to deliver a higher-end industrial product for today’s new high-end manufacturing and warehousing users.”

The firm’s newly acquired properties include:

$157.5 mil Phoenix Portfolio:

• Magnolia – a 35.4k sf building located at 2655 Magnolia St in Phoenix, AZ
• Hohokam 10E – an 82-unit multi-tenant industrial property located along South 48th St, 12th St, and South Park Lane in Tempe, AZ
• Broadwood – a four-building, 34-unit multi-tenant industrial property located at 2450-2452 West Broadway Rd in Mesa, AZ
• Broadway 101 Commerce Park – a 55-unit multi-tenant industrial property located at West Broadway Rd, Mesa, AZ

$124.2 mil Northern California portfolio:

• Bradshaw – a 33-unit multi-tenant asset at 9828, 9912, 9940, and 9960 Business Park Dr, Sacramento, CA
• Horn Rd – a 48-unit multi-tenant industrial asset at 9901-9981 Horn Rd, Sacramento, CA
• Concord Business Park – a 27-unit multi-tenant industrial asset at 5600, 5650, 5700, and 5750 Imhoff Dr, and 1590 Solano Way, Concord, CA
• Sierra Trinity Business Park – a 53-unit multi-tenant industrial asset at 6701 Sierra Ct, Dublin, CA

$101.3 mil Southern California portfolio:

• Spectrum Centre Business Park – a 73-unit multi-tenant industrial property located at 20918 Bake Pkwy, Lake Forest, CA
• Vista Tech Center – a 54-unit multi-tenant industrial property located at 1483-1499 Poinsettia Ave, Vista, CA

$42.4 mil business park in Tigard, OR:

Park 217 Business Center is located at the intersection of Southwest Pacific Coast Hwy and Southwest Garden Place in Tigard, OR

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