BKM Capital Partners JV acquires multitenant industrial property in Portland

BKM Capital Partners with its partner TerraCore Capital has expanded its holdings in the Pacific Northwest with the purchase of Airport Business Center.

The 11-building light industrial portfolio is situated in the heart of Portland’s NE/Columbia industrial corridor and was sold by an institutional investor.

“Continued supply-chain shortages and the resulting high price of construction materials and labor have made it increasingly difficult to bring new, competitive supply to the market,” said Brian Malliet, BKM’s CEO. “For this reason, we continually look for opportunities to acquire well-built facilities in high-growth locations, where we can add value through strategic improvements, leasing, and integrated hands-on management.

“This investment provided us with an opportunity to buy an institutional-grade business park in Portland’s largest industrial submarket,” he added. “With little new construction and vacancies floating under 3.5 percent