BKM Capital Partners Acquires Three Industrial Portfolios in California, Arizona for $138.7M

February 6, 2019

NEWPORT BEACH, CALIF. — Newport Beach, Calif.-based BKM Capital Partners, through its BKM Industrial Value Fund II, has acquired three industrial portfolios for a combined consideration of $138.7 million.

Fullerton Business Center

 

The company purchased a two-property portfolio consisting of four buildings totaling 99,187 square feet in metro San Diego. 3G Properties sold the properties for $16.6 million. At the time of sale, the property was 96 percent occupied with rents that range from 20 percent to 39 percent below market rate. The properties include Del Abeto Commerce Center, located at 6325 and 6354 Corte del Abeto in Carlsbad, Calif.; and Waples Industrial Centre, located at 9540 and 9550 Waples St. in Sorrento Mesa, Calif. Mark Avilla at Cushman & Wakefield represented the seller, while BKM was self-represented in the deal.

 

BKM also acquired South Bay Portfolio, a five-building light industrial portfolio in Fremont, Calif., from Stockbridge for $49 million. Located at 48430-48490 Lakeview Blvd. and 48500-48560, 48400, 47745-47787 and 47703-47737 Fremont Blvd., the portfolio totals 221,651 square feet. At the time of sale, the portfolio was 94 percent occupied by a diverse range of 13 tenants with unit sizes ranging from 4,800 square feet to 42,500 square feet. Eastdil Secured represented the seller, while BKM was self-represented in the deal.

 

In the final deal, BKM purchased a portfolio of four properties, totaling 27 buildings and 448,573 square feet, across California and Arizona. Global Logistics Properties sold the assets for $73 million. The portfolio is currently 87 percent occupied with in-place rents 15 percent below market value. The portfolio includes Fullerton Business Center at 4010-4080 N. Palm St. in Fullerton; Ramona Business Center at 12901-13177 Ramona Blvd. in Irwindale, Calif.; Mowry Business Center at 39975-38995 Cherry St. in Newark, Calif.; and Baseline Business Center at 230-245 Baseline Road in Tempe, Ariz.

 

Mark Detmer, Bo Mills and Ryan Sitov of JLL represented the seller, while BKM was self-represented in the transaction.

 

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BKM CAPITAL PARTNERS

 

Headquartered in Newport Beach, California, BKM Capital Partners is a 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 structured financing, 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

 

BKM Management Company manages a portfolio of 8.2 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 managed in the most efficient way.

 

 

 

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Phone: 949.566.8800

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