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West Valley Business Park In Kent Sells For $30.45M

BKM Capital Partners is continuing its buying spree in the Puget Sound region, with the purchase of the West Valley Business Park in Kent.

The firm bought the light industrial park for $30.45M in an off-market transaction with the seller, Entera Properties. Both parties represented themselves in the transaction. The light-industrial, multi-tenant 206K SF business park includes 179 units in 19 buildings.

BKM has been tracking this property and communicating with its ownership for years, the company said.

The business park, which was constructed in 1982, is 92% leased to 164 tenants. The current rents are well below market. BKM plans to invest $1.2M in capital improvements to renovate the properties, which will bring the asking rents up to market value.

BKM also recently acquired the 133,595 SF, eight-building Federal Way Industrial Portfolio. The company has recently surpassed $1B of assets under management.

Kent Valley is a popular area for warehouse and light industrial firms. According to a Colliers report, 600K SF of warehouse space was recently delivered to the Kent Valley submarket, yet the vacancy rate remains at 4%.

Many commercial, warehouse and light industrial properties have recently changed hands in the submarket, including Andover Park East in Tukwila, the Allied Building in South Kent, The Pacific West Business Center and the The White River Corporate Park.

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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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