BKM Capital Pays $25M for N. Hollywood Industrial Park

Newport Beach, CA-based real estate fund manager BKM Capital Partners has purchased the Valley East Industrial Park in North Hollywood, CA for $25.3 million. The two-building, 36-unit, 84,000-square-foot light industrial facility will be renamed Backlot NoHo as part of the company’s repositioning plan.

The seller, represented by JLL’s Brent Weirick, Mark Detmer and Matt McRoskey, was LAIS Equities. The JLL team also represented the buyer.

BKM is implementing a $6.3 million capital improvement plan to upgrade the asset’s performance, cost and efficiency, while adhering to the firm’s ESG standards. The renovation includes the reconfiguration and consolidation of some units to provide larger suites that modern tenants are seeking. The property is also located within proximity of the largest concentration of studio production and entertainment operations in the world.

“This market has a very limited supply, with vacancy under 2%,” said BKM Founder Brian Malliet. “This acquisition presents significant opportunities for our team to add value, delivering an asset that will stand out in the Burbank/North Hollywood light industrial market.”