BKM, Kayne Anderson Acquire 16-Building Bay Area Light Industrial Portfolio

BKM Capital Partners and Kayne Anderson Real Estate have acquired a three-property industrial portfolio in the San Francisco Bay Area for an undisclosed sum. Totaling approximately 505,000 square feet across 16 buildings and 94 units, the portfolio comprises light industrial space located in Hayward and Concord. The properties were marketed by CBRE National Partners.

“Functional, well-located light industrial product of this scale rarely trades in the Bay Area, so this was a rare opportunity to secure critical mass in two of the most supply-constrained industrial submarkets on the West Coast,” said Brett Turner, senior managing director of acquisitions & dispositions at BKM. “The portfolio offers a compelling combination of functionality, tenant diversity and mark-to-market upside in a region where scale is incredibly difficult to achieve.”

The portfolio is 89% leased to a roster of 70-plus tenants with no single industry comprising more than 20% of the rent roll. The three assets include Huntwood Business Center and Hesperian Business Park, both in Hayward; and Concord Industrial Park. The Concord property will be renamed Mount Diablo Industrial Park as part of BKM’s broader repositioning plan.