BKM Capital Partners has purchased Federal Way Industrial Portfolio, a two-property portfolio in Federal Way, Wash. A private investor sold the eight-building portfolio for $14.7 million in an off-market transaction.
Totaling 133,595 square feet, the properties are located at 34004–34016 Ninth Ave. S., 33623–33799 Ninth Ave. S. and 801–815 S. 336th St. At the time of sale, the multitenant asset was 75 percent occupied.
BKM plans to invest $3 million in capital improvements to renovate and reposition the properties, including the conversion of one building from office to industrial.
