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BKM Capital Partners Acquires Kent Valley Light Industrial Portfolio
BKM Capital Partners has acquired a five-building Metro Seattle industrial portfolio.
The assets, located in the market’s premier South King County industrial corridor, were acquired on behalf of BKM Industrial Value Fund III. Totaling 401,000 square feet across approximately 19 acres of infill industrial space, the portfolio is 84% occupied.
“The portfolio offers several features that are difficult to replicate in infill locations, like flexible suite sizes, low office finish, and direct access to the region’s core transportation network,” said Brett Turner, Senior Managing Director of Acquisitions and Dispositions with BKM.
Turner led the acquisition process for BKM, with support from Michael Grossner, Senior Director of Acquisitions and Dispositions. Buzz Ellis, Managing Director with JLL Capital Markets, represented the seller in the transaction. BKM has allocated approximately $4 million for capital improvements across the portfolio.
The acquisition further strengthens BKM’s footprint in the Kent Valley, one of the Pacific Northwest’s most important industrial corridors and a central distribution hub for users serving Seattle, Bellevue, Tacoma, the Port of Seattle, the Port of Tacoma, and Seattle-Tacoma International Airport.
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