{"id":1004257229,"date":"2018-08-10T09:21:47","date_gmt":"2018-08-10T17:21:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004257229"},"modified":"2022-12-07T13:25:45","modified_gmt":"2022-12-07T21:25:45","slug":"la-area-industrial-business-park-sells-for-85m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/la-area-industrial-business-park-sells-for-85m\/","title":{"rendered":"LA-Area Industrial Business Park Sells for $85M"},"content":{"rendered":"<p>By Evelyn Jozsa&nbsp;<\/p>\n<div id=\"attachment_1004257232\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/47-072-Backlot-Burbank-small.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004257232\" data-attachment-id=\"1004257232\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/la-area-industrial-business-park-sells-for-85m\/47-072-backlot-burbank-small\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/47-072-Backlot-Burbank-small.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;9&quot;,&quot;credit&quot;:&quot;Walt Ferar&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark IV&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1520249781&quot;,&quot;copyright&quot;:&quot;Aerial Images 2017&quot;,&quot;focal_length&quot;:&quot;28&quot;,&quot;iso&quot;:&quot;320&quot;,&quot;shutter_speed&quot;:&quot;0.001&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Backlot Burbank\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Backlot Burbank&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/47-072-Backlot-Burbank-small.jpg?w=800\" class=\"wp-image-1004257232 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/47-072-Backlot-Burbank-small.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/47-072-Backlot-Burbank-small.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/47-072-Backlot-Burbank-small.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/47-072-Backlot-Burbank-small.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004257232\" class=\"wp-caption-text\">Backlot Burbank<\/p><\/div>\n<p>BKM Capital Partners has purchased Backlot Burbank, a 302,869-square-foot industrial business park in Burbank, Calif., for $84.8 million. CBRE arranged the sale on behalf of the seller, a joint venture between Shubin Nadal Associates and Penwood Real Estate Investment LLC.<\/p>\n<p>Located at 4100-4210 W. Vanowen Place, 2303-2333 N. Valley St. and 4400-4510 W. Vanowen St., the asset is near Interstate 5 and Freeway 170, approximately 18 miles from downtown Los Angeles. Additionally, the industrial business park is positioned across from Hollywood\/Burbank Airport.<\/p>\n<p><em>\u201cBurbank is the perfect perennial location for tenants servicing the entertainment industry due to increasing traffic throughout Los Angeles,\u201d<\/em> said Brian Malliet, CEO &amp; co-founder of BKM Capital Partners, in prepared remarks. <em>\u201cThe Backlot Burbank industrial park provides convenient access to Hollywood and downtown Los Angeles, as well as Westside Los Angeles and its surrounding commercial districts. The asset will continue to benefit from the ongoing growth in Hollywood and downtown Los Angeles that is pushing north towards Burbank.\u201d<\/em><\/p>\n<h2>Value-add property<\/h2>\n<p>The 12-building business park is 100 percent leased to 16 tenants. Units range from 6,000 to 100,217 square feet. The property is currently 22 percent below market, therefore the buyer plans to invest in capital improvements to enhance its value and increase rents over time. BKM Capital Partners plans to improve the roofs, paint, and tenant and monument signage.<\/p>\n<p><em>\u201cWe focus on highly functional assets with strong upside potential,\u201d<\/em> said Brett Turner, director of acquisitions at BKM Capital Partners, in prepared remarks. <em>\u201cWe were able to acquire this asset at a discount to its replacement cost, and will be able to significantly enhance property value through our comprehensive capital improvement plan and integrated property management platform.\u201d<\/em><\/p>\n<p>Earlier this year, BKM Capital partners <a href=\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-partners-buys-san-diego-industrial-property\/\">acquired the $28 million Activity&nbsp;Business Center<\/a>, a 160,943-square-foot industrial property in the Miramar submarket of San Diego.<\/p>\n<p><em>Image courtesy of&nbsp;BKM Capital Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BKM Capital Partners acquired the fully leased facility located in Burbank, Calif. The company plans to invest in capital improvements to enhance the value of the property. <\/p>\n","protected":false},"author":871,"featured_media":1004257232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1594,21742,15],"tags":[33648,33895,32789,41555],"class_list":["post-1004257229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-los-angeles","category-latest","category-west","tag-bkm-capital-partners","tag-brian-malliet","tag-cbre","tag-shubin-nadal-realty-investors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LA-Area Industrial Business Park Sells for $85M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/la-area-industrial-business-park-sells-for-85m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LA-Area Industrial Business Park Sells for $85M\" \/>\n<meta property=\"og:description\" content=\"BKM Capital Partners acquired the fully leased facility located in Burbank, Calif. 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