{"id":1004694441,"date":"2023-12-18T02:57:00","date_gmt":"2023-12-18T10:57:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004694441"},"modified":"2023-12-18T02:57:02","modified_gmt":"2023-12-18T10:57:02","slug":"bkm-capital-pays-67m-for-portland-area-industrial-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bkm-capital-pays-67m-for-portland-area-industrial-center\/","title":{"rendered":"BKM Capital Pays $67M for Portland-Area Industrial Center"},"content":{"rendered":"
\"Aerial<\/a>

Aerial view of 217 Distribution Center. Image courtesy of BKM Capital Partners<\/em><\/p><\/div>\n

BKM Capital Partners <\/strong>has acquired a five-building, 451,062-square-foot industrial park in Beaverton, Ore., in an off-market transaction. Kansas City Life Insurance Co.<\/strong> sold the asset for $67 million, according to the Daily Journal of Commerce Oregon.<\/em><\/p>\n

Completed in the 1970s, the light industrial campus features 68 dual-dock-high and 12 grade-level loading capabilities, up to 24-foot-clear heights and access to 14 railway dock doors. Less than 9 percent of its total size consists of office space.<\/p>\n

At the time of the sale, 217 Distribution Center was fully leased to primarily credit tenants such as Nike, Blue Ocean Logistics, Rexel and the Beaverton Police Department. BKM is set to invest $4 million in capital improvements at the campus; upgrades will target landscaping, signage, roofing, HVAC systems and parking lots.<\/p>\n

\n

READ ALSO:<\/strong> EV Boom Reshapes US Industrial Landscape<\/a><\/p>\n

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Located at 1095\u201311065 SW 11th St., the property is in proximity to Highway 217, providing distribution access to Portland and the larger Oregon and northwestern territories. Downtown Portland is less than 9 miles from the property while Portland International Airport is approximately 20 miles away.<\/p>\n

The campus is also less than 1 mile from a recently upgraded 121,426-square-foot industrial property<\/a> that BKM sold to STAG Industrial in August. The asset changed hands for nearly $21 million.<\/p>\n

BKM continues to expand<\/h2>\n

Brett Turner, senior managing director of acquisitions and dispositions at BKM, said in prepared remarks that the industrial park, located in a target market, was purchased at an almost 50 percent discount to replacement cost.<\/p>\n

Throughout the year, BKM has purchased 14 properties totaling 2.2 million square feet. Those recent acquisitions brought the company\u2019s portfolio to a six-state footprint.<\/p>\n

In one of the firm’s largest investment deals of 2023, BKM partnered with an affiliate of Investcorp for the purchase of a 740,000-square-foot light industrial portfolio in Las Vegas<\/a>. Terry York Properties sold the assets for some $158 million.<\/p>\n

After several months, BKM formed a partnership<\/a> with StepStone Real Estate for a GP-led secondary direct transaction. The deal included ownership in Pacific Business Center, a 748,000-square-foot industrial park in Henderson, Nev.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kansas City Life Insurance Co. sold the asset in an off-market deal.<\/p>\n","protected":false},"author":3006,"featured_media":1004694442,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,28440,15],"tags":[33648],"class_list":["post-1004694441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-portland","category-west","tag-bkm-capital-partners"],"acf":[],"yoast_head":"\nBKM Capital Pays $67M for Portland-Area Industrial Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"BKM Capital Partners has acquired a five-building industrial park in Beaverton, Ore., for $67 million from Kansas City Life Insurance Co.\" \/>\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\/bkm-capital-pays-67m-for-portland-area-industrial-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BKM Capital Pays $67M for Portland-Area Industrial Center\" \/>\n<meta property=\"og:description\" content=\"BKM Capital Partners has acquired a five-building industrial park in Beaverton, Ore., for $67 million from Kansas City Life Insurance Co.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-pays-67m-for-portland-area-industrial-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-18T10:57:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-18T10:57:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/217-Distribution-Center-aerial-1-e1702896899232.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jordana Rothberg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-pays-67m-for-portland-area-industrial-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-pays-67m-for-portland-area-industrial-center\/\",\"name\":\"BKM Capital Pays $67M for Portland-Area Industrial Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-pays-67m-for-portland-area-industrial-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-pays-67m-for-portland-area-industrial-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/217-Distribution-Center-aerial-1-e1702896899232.jpg\",\"datePublished\":\"2023-12-18T10:57:00+00:00\",\"dateModified\":\"2023-12-18T10:57:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/366883c93fc1efde412301ab6a4570f9\"},\"description\":\"BKM Capital Partners has acquired a five-building industrial park in Beaverton, Ore., for $67 million from Kansas City Life Insurance Co.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-pays-67m-for-portland-area-industrial-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-pays-67m-for-portland-area-industrial-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-pays-67m-for-portland-area-industrial-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/217-Distribution-Center-aerial-1-e1702896899232.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/217-Distribution-Center-aerial-1-e1702896899232.jpg\",\"width\":800,\"height\":600,\"caption\":\"Aerial view of the 217 Distribution Center. 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