BKM Acquires Portland Industrial Portfolio for $37M
Vertically integrated fund manager BKM Capital Partners has acquired Airport Business Center, an 11-building, light industrial portfolio in Portland, OR. The 229,000-square-foot business park is located at NE Alderwood Road and NE 79th Court and consists of 41 units that is 92% occupied by a diverse range of tenants.
“This investment provided us with an opportunity to buy an institutional-grade business park in Portland’s largest industrial submarket,” said BKM CEO Brian Malliet. “With little new construction and vacancies floating under 3.5%, we see significant opportunities to capitalize.”
Situated in the heart of Portland’s NE/Columbia industrial corridor, the assets consist of 24% office space, 17’ to 20’ clear heights, 79 dock- and grade-level loading doors and ample parking. Planned BKM upgrades include the installation of new TPO all-weather roof systems, new skylights and LED lighting, replacing HVAC systems and cutting back landscaping and installing drought-resistant foliage.