Institutional fund manager BKM Capital Partners has expanded its Puget Sound portfolio, acquiring Pacific Industrial Park, a 122,000-square-foot light industrial park in the Seattle submarket of Marysville, WA. Kidder Mathews’ Matthew Hagen and Matthew Henn represented the seller, family-owned Pacific Industrial Park L.P., in the $20 million transaction. Neil Walter Company’s Fletcher Farrar represented BKM.
The Class A industrial park is located within the Cascade Industrial Center in the rapidly growing Marysville/Arlington area. The property includes four buildings, comprised of 11 units ranging in size from 5,000 to 28,000 square feet.
“This was a prime opportunity to acquire an industrial asset in the Cascade Industrial Center, which is becoming a hub for large- and medium-bay industrial activity, including Amazon and Northpoint,” said BKM CEO Brian Malliet. “The rising cost of business and cost of living has driven residents and businesses to more affordable outlying submarkets, such as Marysville.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.