Tukwila Industrial Asset Provides Opportunity for BKM Capital
By
Tony Seruga
The aging asset offers the new owner an opportunity to be part of a market with very high barriers to entry.
Tukwila Commerce Center – aerial view
Seattle—A Tukwila, Wash.,
light industrial park is the subject of
BKM Capital Partners’ latest move in the Pacific Northwest market. The institutional fund manager paid a total of $45.2 million for the Tukwila Commerce Center, in a deal arranged by
CBRE representatives Darla Longo and Brett Hartzell.
Located at 601-699 Strander Blvd. and 800-1164 Industry Drive, the industrial park consists of 27 buildings that offer a combined total of 476,765 square feet of space. According to BKM CEO & Co-Founder Brian Malliet, the asset was purchased at a significant discount to replacement cost and peak pricing. Tukwila Commerce Center is located in a submarket that boasts high occupancy numbers and strong fundamentals for industrial real estate…
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