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Lincoln Property Sells Miramar Multi-Tenant Light Industrial Asset

Newport Beach, CA-based BKM Capital Partners acquired Activity Business Center, a 160,943-square-foot light industrial property in San Diego’s Miramar submarket, from Lincoln Property Company for $28.1 million. The five-building, multi-tenant property is located at 9235-9265 Activity Rd. and 9520-9530 Padgett St., and currently is 92.6% occupied by a diverse range of 38 different tenants.

Activity Business Center

BKM Capital Partners’ Brian Malliet says, “This acquisition was an opportunity to acquire a high-quality multi-tenant industrial asset in an exceptionally strong market at competitive cost.”

BKM acquired the industrial complex roughly 39% below its replacement cost. The company plans to rebrand the complex,and implement a series of renovations including upgrades to the parking lot, exterior paint, landscaping, monument signage, lobby and the addition of a new outdoor common area.

Cushman and Wakefield represented the seller, while BKM Capital Partners was self-represented.

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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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