BKM Capital Partners Buys Denver Industrial Asset

The company paid nearly $24 million for the property, which was 100 percent leased to 20 tenants at the time of sale.

 

BKM Capital Partners has acquired Valley Business Center, an industrial property in Denver, Colo., for $24.3 million from Mountain West Industrial Properties. The 203,231-square-foot complex consists of five buildings that are 100 percent occupied by 20 tenants, including FedEx and Black & Decker.

 

Built in 1983, the property is located at 700 W. Mississippi Ave. The institutional-grade asset features concrete tilt-up wall construction, 16 to 20-foot clear heights and ESFR sprinkler systems. The complex is situated about 3.5 miles south of downtown Denver and provides easy access to Interstate 25 and Highway 85.

 

PLANNED IMPROVEMENTS

BKM plans to make a series of upgrades to the property, including modernizing the building facades, uniform landscaping and revamped project standard signage and addressing, according to Brett Turner, managing director of acquisitions at BKM.

 

“The strong in-place occupancy at the property provides immediate stabilized cash flow and the diversification of tenants limits rollover exposure from any one single tenant,” said Turner, in prepared remarks. “The staggered rent rolls also allow us to capitalize on on-going rent appreciation over the next few years as the Denver market continues to mature and the lack of available land for new development continues to drive demand to the property.”

 

A CBRE team of Murray Platt, Doug Viseur and Daniel Close represented the seller in the deal, while BKM Capital Partners opted for in-house representation.

 

BKM has been busy making acquisitions across the West since 2017 when the firm launched a value-add institutional fund focusing on multi-tenant industrial assets. Recent buys include a San Diego industrial portfolio and a Los Angeles-area business park.

 

Image courtesy of BKM Capital Partners

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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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