BKM Capital Partners Buys Las Vegas Light Industrial Building
LAS VEGAS, NV, April 28, 2023 – BKM Capital Partners, a vertically integrated institutional fund manager has acquired the Decatur Business Center in Las Vegas for $25.9-million. Terry York Properties sold the 88,205-square-foot light industrial building, located at 5475 S. Decatur Blvd. in Clark County’s southwest submarket.
Decatur Business Center features warehouse, office and showroom space in a two-story concrete tilt-up facility. It is fully leased to five high-credit tenants across a wide range of industries.
“This off-market transaction represents yet another step in the expansion of our footprint in strategic, high-growth markets throughout the Western U.S.,” said BKM’s Founder and CEO, Brian Malliet. “It fits right in line with our strategy of acquiring well-built, well-located properties where we can add value through strategic management and thoughtful capital upgrades.”
The property features warehouse space with 32’ minimum clear ceiling heights, high-performance glass skylights, ESFR-capable sprinklers, a common loading dock and 12’ X 14’ grade-level overhead doors and 480v 3-phase power, as well as ample parking.
Built in 2008, Decatur Business Center sits minutes away from the Las Vegas Strip, Interstates 15 and 215 and the Harry Reid International Airport. Proximity to major population centers has made Southern Nevada one of the most sought-after and fastest-growing industrial corridors in the Western US, with rents expected to trend up steadily over the next five years. BKM plans to make enhancements to improve landscaping and utility efficiency, creating a cutting-edge space that will appeal to the asset's sophisticated tenancy.
“BKM has grown significantly over the past decade, thanks in part to our relationships with trusted capital partners,” adds Malliet. “We look forward to the next 10 years as we foster and grow these relationships, as well as new ones with other like-minded investment partners.”
Newport Beach, CA-based BKM plans to leverage its in-house property management and construction teams to operate the asset and implement capital improvements, creating an enhanced and standardized experience for its tenants.
BKM acquired the asset through a joint venture partnership with TerraCore Capital. The asset was acquired from Terry York Properties and Heller Companies. BKM represented itself in the transaction.
About BKM Capital Partners
BKM Capital Partners is a proven real estate fund manager and operator focused exclusively on investing in light industrial and multi-use logistics properties in the Western United States. Headquartered in Newport Beach, CA, with over 90 employees in 13 offices, BKM Capital Partners implements a value-add strategy targeting under-managed and under-capitalized assets. The team has invested in over $2.9 billion of small and mid-bay properties with over 3,000 tenants in 70+ properties since 2013. Its approach includes the acquisition, refurbishment, repositioning and active management of these industrial properties in an effort to drive NOI growth and generate a strong IRR and multiple on invested equity. BKM’s foundation is built upon: Focus; Operational Excellence; Technology; and Client Service. Additional information is available at bkmcp.com