Tukwila

August 26, 2016 Comments Off on BKM Capital Partners Pays $45M for Tukwila (WA) Commerce Center Views: 315 California, National News, Washington, West

BKM Capital Partners Pays $45M for Tukwila (WA) Commerce Center

BKM Capital Partners acquired the 27-building, 476,765-square-foot Tukwila Commerce Center, a multi-tenant, light-industrial park in Tukwila, WA. The Newport, CA buyer paid $45.2 million to Singapore-based Global Logistics Properties for the asset, which is in Seattle’s Kent submarket.

Brian Malliet with BKM indicated that the asset was acquired at a discount to replacement cost, as well as peak pricing. Seattle’s Daily Journal of Commerce reports that GLP paid $52.7 million when it acquired the center from Walton Street Capital in 2015.

The property is at 601-699 Strander Blvd. and 800-1164 Industry Drive in Tukwila, Washington, approximately 13.5 miles from downtown Seattle. CBRE’s Darla Longo and Brett Hartzell represented the seller. BKM plans close to $8 million in capital improvements including upgrades to paint, landscape, exterior facades, tenant and monument signage and common areas.

Connect with BKM Capital Partners

Connect with CBRE’s Hartzell

Connect with CBRE’s Longo

For comments, questions or concerns, please contact Amy Sorter

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