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.