MARYSVILLE, WASH. — BKM Capital Partners has expanded its Puget Sound portfolio with the purchase of Pacific Industrial Park in Marysville. Pacific Industrial Park LP I sold the asset for $20.3 million.
Constructed between 1998 and 2000, the 122,000-square-foot light industrial park features four Class A buildings, which are currently 100 percent leased across 11 units that range in size from 5,060 square feet to 28,206 square feet. Tenants include Snohomish County Sheriff, Greenpointe Technologies and Dish Networks. The assets are located at 14800-15100 40th Ave. NE.
BKM’s in-house property and construction teams will execute an improvement program at the property to create a standardized tenant experience. Upgrades and improvements will address parking lots, ESG projects, interior buildouts, roofs, drought-tolerant landscaping, HVAC, lighting, signage and a wrought iron security fence surrounding the sheriff’s office space.
Matthew Hagen and Matthew Henn of Kidder Mathews represented the seller, while Fletcher Farrar of Neil Walter Co. represented the buyer in the deal.