BKM Capital Partners Buys Koll Cotton Center in Phoenix for $26M

POSTED ON OCTOBER 22, 2015 BY NELLIE DAY IN ARIZONA, INDUSTRIAL, WESTERN

PHOENIX — BKM Capital Partners has purchased the Koll Cotton Center, a 225,435-square-foot industrial business park in Phoenix, for $26 million. The seven-building center is located one mile south of Phoenix Sky Harbor International Airport. It was 77 percent occupied at the time of sale. JLL’s Mark Detmer and Bo Mills represented the seller, Clarion Partners.

BKM director of acquisitions Brett Turner, who sourced the deal, tells us the company hopes to build a long-term relationship with Clarion, “as they control many assets in our target geography.” BKM plans interior improvements to the property, including a spec suite program for currently vacant space that will modernize the asset. Koll Cotton is 77% occupied.

“By updating the asset, we’ll be able to leverage its performance potential, ultimately rolling tenants to a market rate rent,” explains BKM CEO Brian Malliet. JLL’s Mark Detmer and Bo Mills repped Clarion.