BKM Capital Partners Buys Nine-Building Industrial Park in Phoenix for $8.1M
PHOENIX — BKM Capital Partners has acquired Diablo Business Center, a nine-building industrial business park located at 3610-3660 E. Wier Ave. and 4663-4645 S. 36th St. in Phoenix. An undisclosed seller sold the property for $8.1 million.
The multi-tenant property features 150,000 square feet of light industrial space.
BKM plans to implement a $1.8 million capital improvement program at the property. Planned renovations include creative speculative tenant buildouts, reviving dead units, the addition of private fenced yards and upgrades to the exterior including a modern, multi-tone paint scheme, drought-resistant landscaping, upgraded monument signage and standardized tenant signage. The company will also address structural improvements including a new roof, new parking lot and an improved HVAC system.
Bob Buckley of Cushman & Wakefield represented the seller in the transaction.