BKM Capital Buys 11-Property Industrial Portfolio in Four Western Markets for $425.4M


Located for Lake Forest, Calif., Spectrum Centre Business Park features 73 units of industrial space for multi-tenant use.

NEWPORT BEACH, CALIF. — Newport Beach-based BKM Capital Partners has purchased an 11-property industrial portfolio in four Western markets for a total consideration of $425.4 million. The properties are located in Phoenix, Northern and Southern California and Tigard, Ore.

BKM acquired eight of the properties through BKM Industrial Value Fund II and three of the properties in partnership with Canyon Catalyst Fund, a program Canyon Partners manages on behalf of the California Public Employees’ Retirement System.

The portfolio contains 2.7 million square feet of space and 493 units. At the time of sale, the portfolio was nearly 90 percent occupied.

The newly acquired properties include:

  • A four-property, $157.7 million Phoenix-area portfolio, including:
    • Magnolia, a 35,385-square-foot building at 2655 Magnolia St. in Phoenix
    • Hohokam 10E, an 82-unit, multi-tenant property in Tempe, Ariz.
    • Broadwood, a four-building, 34-unit, multi-tenant facility at 2450-2452 W. Broadway Road in Mesa
    • Broadway 101 Commerce Park, a 55-unit, multi-tenant asset in Mesa
  • A four-property, $124.2 million Northern California portfolio, including:
    • Bradshaw, a 33-unit, multi-tenant asset at 9828, 9912, 9940 and 9960 Business Park Drive in Sacramento
    • Horn Road, a 48-unit, multi-tenant property at 9901-9981 Horn Road in Sacramento
    • Concord Business Park, a 27-unit, multi-tenant facility on Imhoff Drive and Solano Way in Concord
    • Sierra Trinity Business Park, a 53-unit, multi-tenant asset at 6701 Sierra Court in Dublin
  • A two-property, $101.3 million Southern California portfolio, including:
    • Spectrum Centre Business Park, a 73-unit, multi-tenant asset at 20918 Bake Parkway in Lake Forest
    • Vista Tech Center, a 54-unit, multi-tenant property at 1483-1499 Poinsettia Ave. in Vista
  • Park 217 Business Center, a $42.4 million business park in Tigard, Ore.

Additional terms of the transactions were not released.

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