BKM Capital Partners Acquires Goldenwest Circle Business Park in Orange County for $62 Million

Off-market acquisition adds a fully occupied park with rare I-405 frontage in one of the nation’s tightest small-bay markets

Westminster, CA — November 2, 2026 — BKM Capital Partners, a leading institutional fund manager and operator focused exclusively on small- and mid-bay light industrial properties across the United States, has acquired Goldenwest Circle Business Park in Westminster, California. BKM purchased the 12-building park in an off-market transaction on behalf of BKM Industrial Value Fund III.

Goldenwest Circle Business Park sits on 12.3 acres at Bolsa Avenue and Interstate 405, with direct frontage on one of Southern California’s most heavily traveled freeways. The fully occupied, 231,000-square-foot park comprises 36 units ranging from 1,700 to 20,000 square feet, with an average of approximately 6,400 square feet. Its buildings, which each sit on its own parcel, offer 14- to 20-foot clear heights, ground-level loading and ample parking and truck space.

That frontage gives the property a level of visibility few industrial parks can offer. Its largest tenant, Huntington Beach Harley-Davidson, operates one of the brand’s highest-volume dealerships in the world there. The park’s other tenants span manufacturing, distribution, retail and business services, and the location gives them quick access to the regional freeway network, with John Wayne Airport about 13 minutes away and the ports of Los Angeles and Long Beach about 25 miles away.

“Freeway frontage like this is rare in Orange County, and it rarely comes up for sale,” said Brett Turner, Partner and Chief Investment Officer at BKM. “Acquiring it at a significant discount to replacement cost gives us room to reinvest in a location that already works for its tenants. We have income in place as we improve the buildings and common areas, and time to strengthen tenant relationships well ahead of renewals.”

Turner led the transaction on BKM’s behalf alongside Michael Grossner, Senior Director of Acquisitions & Dispositions. Darla Longo at CBRE advised the seller in the transaction.

BKM plans to reposition and rebrand the park with the goal of establishing Goldenwest Circle Business Park as the leading small-bay address along the I-405 corridor. A comprehensive capital program will address roofing and asphalt repairs, exterior improvements, landscaping and updated tenant and monument signage, while the firm’s property and asset management teams focus on maintenance and tenant service.

“High land and construction costs make it difficult to create new small-bay space at rents that work for many existing businesses,” said Brian Malliet, BKM’s Founder and CEO. “At the same time, older multi-tenant parks in Orange County are giving way to data centers, corporate campuses and mixed-use projects. That makes the established parks that remain all the more important. We can invest in the real estate while preserving the smaller spaces and accessible locations that tenants have built their businesses around.”

According to CBRE research, Orange County’s small-bay multi-tenant vacancy rate came in at just 5.7% in the second quarter. Conditions were tightest at the small end of the size range, with vacancy of 3.2% for buildings below 25,000 square feet versus 15.2% for buildings between 100,000 and 199,000 square feet. No new small-bay space was delivered during the quarter, and approximately 300,000 square feet was under construction across an existing inventory of 80 million square feet. In the Garden Grove submarket, which includes Goldenwest, availability stood at 5%.

Orange County’s industrial inventory skews toward smaller buildings, with those under 200,000 square feet accounting for 83% of the total. The county’s aerospace, medical device and advanced manufacturing clusters add steady demand for functional infill space close to customers and suppliers.