{"id":1004701401,"date":"2024-02-07T07:20:58","date_gmt":"2024-02-07T15:20:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004701401"},"modified":"2024-06-26T00:36:19","modified_gmt":"2024-06-26T08:36:19","slug":"bkm-capital-jv-buys-portland-industrial-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bkm-capital-jv-buys-portland-industrial-campus\/","title":{"rendered":"BKM Capital JV Buys Portland Industrial Campus"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2dc93dd404b&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004701406\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-jv-buys-portland-industrial-campus\/airport-way-corporate-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Airport-Way-Corporate-Park.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" 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;1692374827&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=\"Airport Way Corporate Park\" data-image-description=\"&lt;p&gt;The industrial campus at 12021 NE Airport Way in Portland, Ore.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Airport Way Corporate Park consists of three buildings totaling 140,693 square feet. Image courtesy of BKM Capital Partners&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Airport-Way-Corporate-Park.jpg?w=1000\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Airport-Way-Corporate-Park.jpg\" alt=\"The industrial campus at 12021 NE Airport Way in Portland, Ore.\" class=\"wp-image-1004701406\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Airport-Way-Corporate-Park.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Airport-Way-Corporate-Park.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Airport-Way-Corporate-Park.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">BKM will spend $1.3 million in capital improvements at Airport Way Corporate Park. <em>Image courtesy of BKM Capital Partners<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture between <strong>BKM Capital Partners<\/strong> and <strong>BMA Capital Corp.<\/strong> has acquired Airport Way Corporate Park, a three-building, 140,693-square-foot industrial campus in Portland, Ore., for $24.5 million. The property will be rebranded as PDX Distribution Center.<\/p>\n\n\n\n<p><strong>Stockbridge Capital Group<\/strong> sold the asset, according to CommercialEdge data. <strong>CBRE<\/strong> worked on behalf of the seller, while the buyer was represented in-house.<\/p>\n\n\n\n<p>Stockbridge acquired the facility in 2018 for $22.5 million, the same source shows.<\/p>\n\n\n\n<p>BKM plans to implement a $1.3 million capital improvements program over the next eight months. The owner is targeting speculative tenant improvements and upgrades to roofs, parking lots and HVAC systems. A vacant office unit will be converted into a warehouse.<\/p>\n\n\n\n<p>A total of 15 tenants occupied 97 percent of the property at the time of sale, according to<em> DJC Oregon<\/em>. The buildings, completed between 1992 and 2008, feature 16 units ranging from 3,666 to 32,533 square feet, 19 dock-high loading doors, 22 drive-in doors and up to 26-foot clear heights. About 36 percent of the space is office.<\/p>\n\n\n\n<p>The tenant roster includes Vestas and Cardinal Health, which occupy a third of the campus. The park is at 12021 NE Airport Way, next to Portland International Airport and 3 miles from the Port of Portland. Downtown Portland is within 11 miles.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-bkm-s-portland-industrial-inventory\">BKM\u2019s Portland industrial inventory<\/h2>\n\n\n\n<p>BKM Capital Partners&#8217; industrial portfolio now encompasses 11 properties in the Portland metro, totaling nearly 950,000 square feet, according to CommercialEdge information. <\/p>\n\n\n\n<p>Last year, the company acquired <a href=\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-pays-67m-for-portland-area-industrial-center\/\">a five-building industrial park<\/a> in Beaverton in an off-market transaction. The 451,062-square-foot asset traded for $67 million and was fully leased at the time of sale.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The asset traded for $24.5 million.<\/p>\n","protected":false},"author":3355,"featured_media":1004701406,"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":[33648,32789,35708],"class_list":["post-1004701401","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","tag-cbre","tag-stockbridge-capital-group"],"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>BKM Capital JV Buys Portland Industrial Campus - 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