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BKM Acquires 1M SF for $175M+ in Two States
Newport Beach, CA-based BKM Capital Partners acquired two multi-tenant industrial properties totaling more than one million square feet. The assets are located in Las Vegas and the San Francisco Bay Area, and were purchased for in excess of $175 million.
Hughes Airport Center, a 670,902 square-foot complex in the Las Vegas Airport submarket at 420-770 Pilot Rd. and 711-839 Pilot Rd, was acquired from CIP Real Estate and Oaktree Capital Management for a reported $92 million. BKM also completed a phased acquisition of a 14-building, 352,280 square-foot property in Fremont, CA’s Bayside Business Park, in a JV with the Canyon Catalyst Fund.
BKM Capital Partners’ Brian Malliet says, “Our ‘largest in market’ acquisition strategy is serving our investors well. By acquiring the largest multi-tenant industrial assets in the markets we serve, we are able to devise units to match market demand, which translates directly into high occupancy, resulting in strong stabilized returns for our investors.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
