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June 17, 2024
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BKM Capital Partners Acquires 85k sf AZ Light Industrial Park


Newport Beach-based BKM Capital Partners has acquired Scottsdale Commerce Center, a four-building, 85.4k sf multi-tenant light industrial business park in Scottsdale, AZ, for $19.6 mil ($230/sf). The property was sold by Minneapolis, MN-based Onward Investors.

Located at 1435, 1465, 1505 and 1525 North Hayden Rd in the McDowell Road Corridor on Scottsdale’s south end, Scottsdale Commerce Center is uniquely situated adjacent to multiple infill demand centers including Downtown Scottsdale, Arizona State University and Tempe’s business district, as well as Sky Harbor International Airport. The asset is also ideally placed along SR-101, providing ease of access to the broader Southeast Valley.

Built in 1986, the asset is currently 100% leased across 15 suites, with unit sizes ranging from 1.8k sf to 25k sf. BKM plans to modernize and reposition a property that is currently configured with a large amount of office buildout into functional industrial space. The value-add improvements are expected to attract long-term tenancy, drive rental rates, and meet increasing demand for e-commerce and last-mile occupiers.

Brian Malliet, CEO of BKM Capital Partners, said, “Phoenix remains a key market for BKM, given the growth and demand for e-commerce and last-mile facilities that serve the greater Southwest and West Coast markets. Scottsdale Commerce Center checks all the right boxes for us as we work to uncover value-add industrial opportunities and continue to strategically expand our portfolio.”

This is BKM’s 25th acquisition in the Phoenix metro area, bringing its current holdings in the region to more than 2.2 msf across 13 projects, according to Malliet. Cushman & Wakefield’s Chris Toci represented the seller in the transaction.

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