• Commercial Property Executive

BKM Capital Partners Buys San Diego Industrial Property


Situated in the Miramar submarket, Activity Business Center is a 160,943-square-foot industrial property. Cushman & Wakefield represented the seller, Lincoln Property Co.

Activity Business Center

BKM Capital Partners has purchased Activity Business Center, a 160,943-square-foot, five-building, multi-tenant light industrial property in the Miramar submarket of San Diego for $28 million.

Located at the intersection of 9235-9265 Activity Road and 9520-9530 Padgett St., the building was 92 percent occupied at the time of the sale. Cushman & Wakefield represented the seller, Lincoln Property Co., which bought the asset in 2015. With more than 35 tenants, the in-place rents are roughly 10 percent below market value and average unit sizes are approximately 3,743 square feet.

Strong Submarket

BKM Capital Partners plans to rebrand the property and implement a series of improvements, including parking lot upgrades, exterior paint, landscaping, monument signage, lobby and the addition of a new outdoor common area.

“Miramar is one of the highest-performing industrial markets in all of San Diego,” says Brian Malliet, CEO & co-founder of BKM Capital Partners, in prepared remarks. “The submarket currently outperforms many of the county’s industrial hubs, with an average industrial occupancy of 97 percent. This acquisition was an opportunity to acquire a high-quality, multi-tenant industrial asset in an exceptionally strong market at competitive cost.”

Interstate 15, State Route 163, State Route 52 and Interstate 805 are all easily accessible from the property.

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BKM CAPITAL PARTNERS

 

Headquartered in Newport Beach, California, BKM Capital Partners is a real estate fund manager specializing in the acquisition and improvement of value-add multi-tenant industrial properties in metro areas across the Western U.S. Combining a deep knowledge of this niche industrial product type with in-house capabilities including on-site property management, asset management, and leasing to reposition and institutionalize light industrial assets, the firm continues to build on its proven track record, generating strong results with high levels of transparency and engagement for investors. 

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BKM MANAGEMENT COMPANY

 

BKM Management Company manages a portfolio of 8.7 million square feet of multi-tenant industrial properties for BKM Capital Partner’s private and institutional investors. With a focus on “boots on the ground” execution at the property level, BKM has in-house capabilities for both property management and leasing. The teams at the property level are focused on ensuring the tenants thrive and that the properties managed in the most efficient way.

 

 

 

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