BKM Capital Partners, an institutional fund manager and operator specializing in multitenant light industrial real estate, has acquired a five-building Metro Seattle industrial portfolio. The assets, located in the market’s premier South King County industrial corridor, were acquired on behalf of BKM Industrial Value Fund III.
Totaling 401,000 square feet across approximately 19 acres of infill industrial space, the portfolio is 84 percent occupied and includes Southcenter West Business Park, a three-building, 287,000-square-foot campus in Tukwila, Wash.; Kent Valley Distribution Center III, a 50,450-square-foot facility in Kent, Wash.; and a 64,000-square-foot facility also in Kent.
Built between 1973 and 1979, the properties feature 24-foot clear heights, 90- to 110-foot truck court depths, wet pipe sprinklers, LED lighting, ample parking and a mix of dock-high and ground-level loading. The portfolio’s 21 units have a 2.9-year weighted average lease term (WALT),
