BURBANK, CALIF. — BKM Capital Partners has acquired Backlot Burbank, a 12-building industrial business park located at 4100-4210 W. Vanowen Place, 2303-2333 N. Valley St. and 4400-4510 W. Vanowen St. in Burbank. A joint venture between Shubin Nadal Associates and Penwood Real Estate Investment Management, through its Penwood Select Industrial Partners IV value-added investment vehicle, sold the property for $85 million.
Backlot Burbank is a 12-building, 302,869-square-foot industrial park located at 4100-4210 W. Vanowen Place, 2303-2333 N. Valley St. and 4400-4510 W. Vanowen St. in Burbank, Calif.
At the time of sale, the 302,869-square-foot asset was 100 percent occupied by 16 tenants with unit sizes ranging from 6,000 square feet to 100,217 square feet. BKM Capital Partners plans to implement a series of capital improvements to the property, including new roofs, paint and tenant and monument signage.
CBRE represented the seller in the deal.