BKM Enterprises is leasing back six of the buildings totaling 92.3% of the properties traded for a 10-year term. "The BKM Enterprises portfolio is well-located within a stable market and meets the mission of the USA Fund by allowing BKM Enterprises to continue to provide the East Hartford community with permanent and temporary jobs ranging from tenant improvements to a potential full building renovation at 22 Rumsey Road," says Kirk Sykes, president of the Urban Strategy America Fund, which is headquartered in Boston.

BKM will be vacating the 22 Rumsey Rd. property, a shallow-bay flex building, which totals approximately 30,000 sf and the space is now available for lease, says John Dragat, CIO for the fund. Two properties involved in the sale are located at Founders Plaza--the 70,350-sf 300 E. River Dr. and 60 Meadow Rd., which totals 52,400 sf. Also part of the sale is 71 George St., a 50,000-sf contemporary manufacturing building; 33 and 47 Leggett Rd., two warehouse/distribution buildings that total 44,000 sf and 71,500 sf respectively and 59/69 Leggett Rd., two shallow-bay flex buildings that combined total 71,600 sf. Sean Duffy of Cushman & Wakefield brokered the sale/leaseback on behalf of BKM Enterprises.

"From the investment perspective, this acquisition will bring a strong cash flow to the fund," Dragat says. "The seven-building portfolio will contribute to the diversity of the fund's investments. The Urban Strategy America Fund was formed in 2004 but didn't complete the raise for its $190 million Fund I until the end of 2006. Thus far the firm has completed acquisitions of approximately $100 million in the first year-and-a-half of the planned three-year fund.