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BKM Capital Partners Acquires 670k sf Biz Park in the Las Vegas Market

BKM Capital Partners has recently acquired $175+ mil in properties through its current “largest in market” acquisition strategy. In its latest buy, the company purchased Hughes Airport Center II, a 670.9k sf, 13-building multi-tenant industrial complex in the Las Vegas Airport submarket in Nevada, for $92 mil ($137/sf).

Situated between McCarran International Airport and the I-215 Fwy, the multi-tenant industrial complex is currently 86.6% leased to a diverse range of tenants across multiple industries. It is considered the premier multi-tenant industrial property in the region, and is strategically positioned to benefit from ongoing growth in Las Vegas.

Hughes Airport Center II is a highly functional Class A industrial complex with clear heights ranging from 16-24’, 44 dock-high loading doors, and 59 grade-level loading doors. The property is located at 420-770 Pilot Rd and 711-839 Pilot Rd in Las Vegas. BKM plans to implement a series of cosmetic interior and exterior upgrades to modernize the park, such as reconfiguring dysfunctional office units into marketable industrial units totaling 27.8k sf. “Our ‘largest in market’ acquisition strategy is serving our investors well,” says Brian Malliet, Co-Founder and CEO of BKM Capital Partners. “By acquiring the largest multi-tenant industrial assets in the markets we serve, we are able to devise units to match market demand, which translates directly into high occupancy, resulting in strong stabilized returns for our investors. We continue to seek out light multi-tenant industrial assets throughout the Western U.S.” Malliet notes that the property was acquired at a significant discount to replacement cost. It is expected to serve as a last mile delivery option based on its unique position directly across from the airport and one block from the Las Vegas strip. Prior to this buy, BKM, through its programmatic joint venture with the Canyon Catalyst Fund, also acquired one of the largest multi-tenant industrial properties of its kind in Silicon Valley - a 14-building, 352.3k sf property in the Bayside Business Park in Fremont. Together, these acquisitions total more than 1 msf of multi-tenant industrial product.

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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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