{"id":1004158431,"date":"2016-11-07T06:38:39","date_gmt":"2016-11-07T14:38:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004158431"},"modified":"2022-03-03T23:56:56","modified_gmt":"2022-03-04T07:56:56","slug":"bkm-expands-seattle-area-footprint-with-industrial-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bkm-expands-seattle-area-footprint-with-industrial-buy\/","title":{"rendered":"BKM Expands Seattle-Area Footprint with Industrial Buy"},"content":{"rendered":"<p>by Adina Marcut<\/p>\n<div id=\"attachment_1004158432\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/bkm.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004158432\" data-attachment-id=\"1004158432\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bkm-expands-seattle-area-footprint-with-industrial-buy\/bkm\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/bkm.jpg\" data-orig-size=\"800,600\" 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;1&quot;}\" data-image-title=\"bkm\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/bkm.jpg?w=800\" class=\"wp-image-1004158432 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/bkm.jpg\" alt=\"Andover Executive Park\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/bkm.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/bkm.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/bkm.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004158432\" class=\"wp-caption-text\">Andover Executive Park<\/p><\/div>\n<p><strong>Tukwila, Wash.\u2014<\/strong><a href=\"https:\/\/bkmcapitalpartners.com\/\" rel=\"nofollow noopener\" target=\"_blank\">BKM Capital Partners<\/a> has purchased Andover Executive Park, an 11-building, multi-tenant <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial\/\" target=\"_blank\" rel=\"noopener\">industrial<\/a> business park encompassing 181,163 square feet in the Kent submarket of Tukwila. The property was acquired in an off-market transaction for $19.8 million.<\/p>\n<p>\u201cOur hyper focus on multi-tenant light industrial product allows us to identify, source, and acquire properties that will ultimately deliver the best yields to our institutional investment partners (\u2026), Based on this niche focus and our deep knowledge of the market, we were able to acquire the Andover Executive Park well below peak prices and replacement cost, providing a significant opportunity for generating a strong ROI.\u201d Brian Malliet, CEO &amp; co-founder of BKM Capital Partners, said in a prepared statement.<\/p>\n<p>BKM Capital plans to implement a series of capital improvements to the business park, which include renovations to the rooftops, exterior paint, landscaping, facades and signage, as well as adding creative exterior accents and interior common areas.<\/p>\n<p>\u201cThrough these capital improvements, we will be able attract and retain high quality tenants, drive rent growth for the property over time, and add to the long-term value of the asset,\u201d said Brett Turner, director of acquisitions at BKM Capital Partners.<\/p>\n<p>Andover Executive Park is located off the intersection of the I-5 and 405 freeways at 400-774 Industry Drive in Tukwila, Wash., and also benefits from its proximity to BKM\u2019s other asset in the area, Tukwila Commerce Center.<\/p>\n<p><em>Image courtesy of BKM Capital Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The asset marks the firm\u2019s 18th acquisition in its debut fund and was purchased for $19.8 million.<\/p>\n","protected":false},"author":2518,"featured_media":1004158432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21742,1610,15],"tags":[],"class_list":["post-1004158431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-latest","category-seattle","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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