{"id":1004146632,"date":"2016-06-24T04:52:35","date_gmt":"2016-06-24T12:52:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004146632"},"modified":"2022-03-02T23:01:18","modified_gmt":"2022-03-03T07:01:18","slug":"invesco-sells-five-building-industrial-asset-to-bkm-capital-partners","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/invesco-sells-five-building-industrial-asset-to-bkm-capital-partners\/","title":{"rendered":"Invesco Sells Five-Building Industrial Asset to BKM Capital Partners"},"content":{"rendered":"<p>By Alex Girda<\/p>\n<p><strong>Phoenix<\/strong>\u2013 Institutional fund manager <a href=\"https:\/\/bkmcapitalpartners.com\/\" rel=\"nofollow noopener\" target=\"_blank\">BKM Capital Partners<\/a> recently added a five-building industrial campus to its portfolio. BKM paid seller <a href=\"https:\/\/www.invesco.com\/corporate\/home\" rel=\"nofollow noopener\" target=\"_blank\">Invesco<\/a> roughly $58 million through subsidiary BKM Industrial Value Fund I for Tempe Commerce Park. This is the new owner\u2019s tenth acquisition in the Phoenix MSA. <a href=\"https:\/\/www.us.jll.com\/united-states\/en-us\" rel=\"nofollow noopener\" target=\"_blank\">JLL<\/a> representatives Mark Detmer and Bo Miles worked on behalf of the seller during the transaction.<\/p>\n<div id=\"attachment_1004146633\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Tempe-Commerce-Park.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004146633\" data-attachment-id=\"1004146633\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/invesco-sells-five-building-industrial-asset-to-bkm-capital-partners\/tempe-commerce-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Tempe-Commerce-Park.jpg\" data-orig-size=\"653,366\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Tempe Commerce Park\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Tempe Commerce Park&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Tempe-Commerce-Park.jpg?w=653\" class=\"wp-image-1004146633 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Tempe-Commerce-Park.jpg\" alt=\"Tempe Commerce Park\" width=\"300\" height=\"168\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Tempe-Commerce-Park.jpg 653w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Tempe-Commerce-Park.jpg?resize=300,168 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004146633\" class=\"wp-caption-text\">Tempe Commerce Park<\/p><\/div>\n<p>Located in the proximity of Phoenix Sky Harbor Airport and offering access to important transportation lines such as the I-10 and Loop 101, the five buildings acquired by BKM total 535,976 square feet of space. Currently operating at 100 percent occupancy, the assets bring the company\u2019s light industrial portfolio to roughly two million square feet of space.<\/p>\n<p>According to BKM CEO &amp; Co-Founder Brian Malliet, the properties were purchased at roughly 30 percent below replacement costs. Having reached full lease-out just before the acquisition was finalized, the assets will \u201cdrive distributable cash flow and reduce the cost of debt for the property, increasing overall yields to our investors.\u201d<\/p>\n<p>Part of what has become known as the \u201cSilicon Desert\u201d submarket in the heart of Tempe, the campus offers further opportunity for growth. Low rents and strengthening area fundamentals will allow the new owner to monetize the assets as the current leasing agreements roll.<\/p>\n<p><em>Image courtesy of BKM Capital Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Located in &#8220;Silicon Desert&#8221;, the property offers further growth opportunity as area fundamentals improve. <\/p>\n","protected":false},"author":41,"featured_media":1004146633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21748,21783,1601],"tags":[],"class_list":["post-1004146632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-industrial","category-investment","category-phoenix"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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