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BKM Divests Carlsbad Light Industrial
Cushman & Wakefield advised on the sale of Arroyo Business Center, a 64,045-square-foot multi-tenant light industrial park in Carlsbad. The property was acquired by a global private equity firm for $19.3 million. The seller was Newport Beach-based BKM Capital Partners.
Bryce Aberg, Jeff Chiate, Jeff Cole and Ryan Demarest of Cushman & Wakefield’s National Industrial Investment Advisory Group in Southern California represented BKM. Cushman & Wakefield’s Brant Aberg, Conor Boyle, and Tyler Stemley provided leasing advisory.
“Arroyo Business Center provides a great image, stable cash flow, and below market rates yielding attractive value-add potential for the buyer,” said Aberg. “The project’s income stability is met with a mark-to-market opportunity to enhance value through future renewal and new leasing activity at stronger rents based on continued demand for light industrial product, as evidenced by the project’s own occupancy rate.”
Located at 6352 and 6354 Corte Del Abeto, the North San Diego County industrial property consists of two buildings and was 93.8% leased to 10 tenants across several industries.
- ◦Sale/Acquisition
