BKM Capital Partners has acquired Valley Business Center, a 203,231-square-foot, five-building industrial property in Denver.
The industrial complex was acquired for $24.3 million. The seller was Mountain West Industrial Properties.
“The central Denver industrial submarket has consistently outperformed many of Denver’s other major submarkets with historically low vacancy rates and high demand,” said Brian Malliet, CEO and co-founder of BKM Capital Partners. “In fact, the industrial vacancy rate in central Denver is 3.6 percent, which is well below the metro average of 6.1 percent. The property is also strategically positioned between downtown Denver, Cherry Creek and the Denver Tech Center, the largest office submarkets in the city with projected employment rates in the metro region set to increase by 26 percent by 2023.”
Malliet explained this asset will benefit from this ongoing growth in the region and that this acquisition is consistent with the fi
