• Commercial Real Estate Direct

BKM Pays $24.1Mln for Tempe, Ariz., Industrial Portfolio

Commercial Real Estate Direct Staff Report

BKM Capital Partners has paid $24.1 million, or about $78.88/sf, for a 305,524-square-foot industrial portfolio in Tempe, Ariz., about ten miles east of Phoenix.

The seller was the San Francisco Employees Retirement System, which was represented by CIM Group and Rreef Property Trust. Bank of America provided acquisition financing, terms of which were not disclosed.

The three-property portfolio includes the 120,496-square-foot Twin Business Park, at 1430-1454 and 1602-1638 West 12th Place; Ash Business Center, with 89,728 sf at 4666-5010 South Ash Ave., and Elliot Park 10, with 95,300 sf at 1819-1849 West Drake Drive.

Properties in the portfolio are 87 percent occupied on average, and have below-market rents. BKM's value-add strategy involves leasing up vacant space...

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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 manages a portfolio of 8.6 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 are managed in the most efficient way.




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