Link Logistics Sells Orange County Industrial Park for $62M
Situated on 12 acres, the site is fully leased.
BKM Capital Partners has acquired Goldenwest Circle Business Park, a 12-building, fully occupied, 231,000-square-foot small-bay industrial park in Westminster, Calif., for $62 million. The off-market transaction was made on behalf of BKM Industrial Value Fund III. Link Logistics was the seller of the Orange County property, according to Yardi Matrix data.
The Blackstone-owned firm acquired the business park in August 2019 from TA Realty as part of a 5.4 million-square-foot nationwide industrial and office portfolio transaction, the same source shows.
Goldenwest Circle is situated on 12.3 acres at Bolsa Avenue and Interstate 405, with direct frontage on one of Southern California’s most heavily traveled freeways. The campus is comprised of 36 units ranging from 1,700 to 20,000 square feet, with an average of approximately 6,400 square feet.
Each building sits on its own parcel and offers 14- to 20-foot clear heights, ground-level parking and truck space. The property was built in phases between 1967 and 1969.
Huntington Beach Harley-Davidson is the largest tenant, operating one of the brand’s highest-volume dealerships in the world from the site at 15080 Goldenwest Circle. The park’s other tenants include manufacturing, distribution, retail and business services.
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The location provides quick access to the regional freeway network, with John Wayne Airport about 13 minutes away and the ports of Los Angeles and Long Beach about 25 miles away.
BKM plans to reposition and rebrand the business park with a capital program that will include roofing and asphalt repairs, exterior improvements, landscaping and updated tenant and monument signage. The firm’s property and asset management teams will focus on maintenance and tenant service.
Brett Turner, partner and chief investment officer at BKM, led the transaction on behalf of the company, alongside Michael Grossner, senior director of acquisitions and dispositions. Darla Longo, vice chairman and managing director at CBRE, advised the seller in the deal.
Preserving small-bay properties
Brian Malliet, BKM’s founder & CEO, said in prepared remarks that high land and construction costs make it difficult to create new small-bay space at rents that work for many businesses. He noted the region is losing older, multi-tenant parks that are being transitioned to data centers, corporate campuses and mixed-use projects. This creates a supply shortage and underscores the importance of preserving existing small-bay properties in accessible locations.
Orange County’s small-bay multi-tenant vacancy rate was 5.7 percent in the second quarter of 2026, with an existing inventory of roughly 80 million square feet, according to CBRE research. No new small-bay space was delivered during the quarter, with approximately 300,000 square feet of space under construction. Vacancy for buildings below 25,000 square feet was 3.2 percent during the quarter versus 15.2 percent for buildings between 100,000 and 199,000 square feet.
Recent BKM deals
BKM made another California purchase in June, acquiring Carson Industrial Center for $95 million as part of BKM Industrial Value Fund III. The seller of the 429,000-square-foot asset was German firm DWS Group, according to L.A. Business First.
Located in Carson, Calif., the 11-building property is situated on 20 acres and offers 20 units with an average size of 21,000 square feet. It also features 79 dock-high and grade-level doors, 14- to 21-foot clear heights and parking for 651 vehicles.
Also in June, BKM and joint venture partner Kayne Anderson Real Estate acquired an 8.5 million-square-foot, 51-property portfolio across four states from Link Logistics for $1.8 billion. It was the largest light industrial transaction since 2022, according to BKM and Kayne. The transaction expands on the $1.5 billion joint venture between BKM and Kayne that launched in May 2025. The joint venture targets value-add light industrial and small-bay opportunities.
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