BKM Bags Kent Valley Industrial Park for $30M

October 8, 2019

Newport Beach, CA-based BKM Capital Partners acquired Seattle’s West Valley Business Park, an industrial asset consisting of 179 units in 19 buildings totaling 205,655 square feet in the Kent Valley submarket. The property at 19226 66th Ave. was divested by Entera Properties, in an off-market transaction for $30.45 million.

 “This was a rare opportunity to acquire a premier multi-tenant industrial park at 35% discount to value, located in Seattle’s highly sought-after Kent Valley industrial submarket,” says BKM Capital Partners’ Brett Turner.

 

Originally constructed in 1982, West Valley Business Park is 92% leased to 164 tenants. The asset is strategically located south of the intersection of the I-5 and I-405 freeways, and just 13.5 miles from downtown Seattle, with frontage on SR-181, known as West Valley Highway, a key north-south arterial bisecting Kent Valley.

 

Both buyer and seller were self-represented.

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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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