Reporter: Becky Butcher
BKM Capital Partners has acquired four industrial business parks comprising 442,173 square feet of space, in the Phoenix metro area for $34.5 million.
The properties include Rose Garden Business Park, Metro Industrial Center and 4100 Broadway in Phoenix. BKM also acquired the Arizona Corporate Center in Chandler, Arizona.
BKM also recently announced the close of its first institutional fund, BKM Industrial Value Fund I.
Brian Malliet, CEO and co-founder of BKM, commented: “As opposed to a slowdown, we are nurturing a growing pipeline of off-market investment opportunities, and have already invested roughly 50 percent of our equity in assets just six weeks after the fund closed.”
“The off-market acquisition of these four high-quality properties in the dynamic Phoenix market will add deep value to our growing portfolio, and we are eager to demonstrate proven returns in our multi-tenant light industrial product niche.”