BKM Adds Houston Warehouses to Industrial Portfolio

BKM Capital Partners (BKM) acquired the West Belt Business Park in Houston, Texas for $34.1 million. The 260,887-square-foot industrial park marks the firm’s first acquisition in Texas, extending BKM’s geographic reach to seven states across the Western U.S.

Located at 10611-10641 Harwin Drive in Southwest Houston, West Belt Business Park comprises five buildings with 30 tenant spaces ranging from 770 to 23,000 square feet. The property is fully leased to a diverse tenant base across sectors such as home maintenance, logistics, and technology.

 
BKM’s Brett Turner added, “This property offered a rare opportunity to acquire prime light industrial space in a strong market at a 41% discount to replacement cost.”

 
Leveraging an average tenant lease term of 2.9 years, BKM aims to address an 18% gap in market rents through a strategic $3.3-million capital improvement plan, including enhancements to roofing, architecture, parking areas, landscaping, signage, and tenant improvements.