HAYWARD, CALIF. — BKM Capital Partners has acquired North Cabot Industrial Park, located at 19707-19845 Cabot Blvd. in the East Bay city of Hayward. A non-profit entity sold the asset for $10.5 million, or $206 per square foot.
Situated on 3.8 acres, North Cabot Industrial Park consists of two buildings offering a total of 51,038 square feet with 13 units ranging in size from 2,794 square feet to 6,936 square feet. The asset features two dock-high and 15 grade-level doors, 14-foot clear heights, sprinkler systems and ample parking. At the time of sale, the property was 91 percent occupied.
BKM plans to invest about $685,000 on capital improvements to bring the asset to its brand standards. Planned improvements include upgrades and/or replacements of the roofs, HVAC systems, parking lot, paint, signage and landscaping. The company will invest $49,000 on speculative tenant improvements to modernize a 4,580-square-foot unit with new carpeting, paint, fixtures, millwork and lighting.
BKM was self-represented in the transaction, while Robert Ferraro, Michael Barry and Ken Morris of CBRE represented the seller.