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Fund Manager Nabs Four Business Parks

PHOENIX—With these acquisitions, the firm now has nearly 1 million square feet under management in the Phoenix market, encompassing 11 assets in the first fund with four more assets in escrow at roughly $25 million combined.

By Lisa Brown | lisabrown | Updated on April 14, 2016

AZ Corporate Center Arizona Corporate Center in Chandler was one of the industrial parks acquired by BKM.

PHOENIX—Rose Garden Business Park, Metro Industrial Center and 4100 Broadway in Phoenix, as well as the Arizona Corporate Center in Chandler, AZ have been acquired. BKM Capital Partners acquired the four industrial business parks encompassing 442,173 square feet in the metro area for a total consideration of $34.45 million in a portfolio transaction from a Los Angeles-based private owner.

“Arizona ranked as the number one state for future job growth by Forbes last year and Phoenix is at the center of that. The growing population of residents and employers indicate an opportunity for active value creation over the next two to three years,” says Brian Malliet, CEO and co-founder of BKM Capital Partners.  “We were able to acquire the assets well below replacement costs and below historical peak pricing.”

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