BKM Capital Partners announced it has acquired the Canyon Industrial Center for $70.2 million. The multitenant industrial park is in San Diego’s Kearny Mesa submarket, near some of the West Coast’s densest population centers.
Located at 9424–9560 Chesapeake Drive, Canyon Industrial Center features 198,728 square feet of space in 13 buildings, with an ideal 31 percent office component. It offers 49 units ranging in size from 552 square feet to 18,953 square feet. Built in 1979, the park features 14- to 20-foot-clear ceiling heights, ample parking and 56 grade-level and seven dock-high doors, and is located a mile away from three major freeways.
“This transaction offered an irrefutable opportunity to secure a critical mass of infill light industrial concentration in a key Central San Diego industrial submarket at a 42 percent discount to replacement cost,” said Brett Turner, senior managing director of acquisitions and dispositions at BKM. “We have a great as
