Southern California-based industrial property investor BKM Capital Partners has entered the Sacramento market with the purchase of a business park in Sacramento’s Point West area.
BKM bought 1761-1791 Tribute Road last month for $10.1 million, according to property records. The property, known as Expo Centre, dates to 1974 and has 122,253 square feet of space, according to BKM’s website.
Expo Centre is comprised of seven buildings and is currently 81 percent occupied with 32 tenants, according to BKM. Current tenants include Alterra Pest Control, Sequoia Analytical Labs and Lifesaver Ignition Interlock.
Expo Centre’s buildings all appear to be one story, and online listings for available spaces describe at least some of them as having small office space in addition to industrial.
Overall industrial vacancy in the Sacramento region was 4.9 percent as of the end of 2018’s first quarter, according to Colliers International Sacramento. That figure is down from 7.5 percent a year earlier, with company expansions and the rapid surge of marijuana cultivation operations considered major factors in the drop.
SVN-Sacramento-I LLC is listed as the seller in the Expo Centre transaction. A news release from BKM Capital describes Palmer Capital Inc. as representing the seller in the deal.