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FEDERAL WAY, WASH. — BKM Capital Partners has purchased Federal Way Industrial Portfolio, a two-property portfolio in Federal Way. A private investor sold the eight-building portfolio for $14.7 million in an off-market transaction.
Totaling 133,595 square feet, the properties are located at 34004-34016 Ninth Ave. South, 33623-33799 Ninth Ave. South and 801-815 S. 336th St. At the time of sale, the multi-tenant asset was 75 percent occupied.
BKM plans to invest $3 million in capital improvements to renovate and reposition the properties, including the conversion of one building from office to industrial.
Max White and Nicholas Ratzke of Nail Walter Co. represented both parties in the transaction.