Industrial Complex Near Seattle
BKM Capital bought a 477,000-square-foot light-industrial park in suburban Seattle for $45.2 million, or $95/sf. The 27-building Tukwila Commerce Center, in Tukwila, Wash., is 82% leased. CBRE brokered the sale, completed last month, for Global Logistic Properties of Singapore. BKM plans to upgrade the property, which was built in 1978 near the intersection of Interstates 5 and 405. The Irvine, Calif., Firm will hold the investment in its $105 million BKM Industrial Value Fund I, which held its final close this year.