{"id":1004718746,"date":"2024-06-26T00:48:41","date_gmt":"2024-06-26T08:48:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004718746"},"modified":"2024-06-26T00:48:43","modified_gmt":"2024-06-26T08:48:43","slug":"bkm-pays-63m-for-portland-industrial-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bkm-pays-63m-for-portland-industrial-park\/","title":{"rendered":"BKM Pays $63M for Portland Industrial Park"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004718747\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bkm-pays-63m-for-portland-industrial-park\/screenshot-168\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Screenshot-168-e1719353905280.png\" data-orig-size=\"1199,800\" 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;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=\"ColumbiaCommercePark\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Screenshot-168-e1719353905280.png?w=1024\" height=\"683\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Screenshot-168.png?w=1024\" alt=\"Columbia Commerce Park\" class=\"wp-image-1004718747\" style=\"width:400px\"\/><figcaption class=\"wp-element-caption\">BKM plans to invest approximately $3 million in upgrades at Columbia Commerce Center. <em>Image courtesy of BKM Capital Partners<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>BKM Capital Partners has paid $62.7 million for Columbia Commerce Park, a 10-building, 375,429-square-foot light industrial campus in Portland, Ore. Clarion Partners was the seller, having owned the property since 2005, according to CommercialEdge information.<\/p>\n\n\n\n<p>Following the acquisition, the firm plans to invest approximately $3 million in upgrades to parking lots, landscaping, roofs, interior finishes, HVAC systems and signage. <\/p>\n\n\n\n<p>According to BKM, the improvements are meant to rectify a 21 percent shortfall in occupancy and to bring most the Class B campus\u2019 rents up to market rate. Additionally, the company intends to re-tenant some of the existing units. The property was 93 percent leased at the time of sale to a diverse mix of tenants.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/i-con-east-special-report-industrial-opportunity-snapshot\/\">I.CON East Special Report: Industrial Opportunity Snapshot<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Completed in 1998, the property houses 30 shallow- and mid-bay units that range from 1,882 to 49,525 square feet, each having up to 22-foot clear heights. The campus totals 68 dock-high and 26 grade-level loading doors. As part of the renovations, BKM plans to partition a 30,000-square-foot unit into two 15,000-square-foot shallow-bay spaces.<\/p>\n\n\n\n<p>Located at 5743 NE Columbia Blvd., the campus is adjacent to U.S. Route 30, which feeds into intersections with interstates 5, 84 and 205. Downtown Portland is 5 miles southwest, while the city\u2019s international airport is 3 miles away, across the Columbia River.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-bkm-s-been-keeping-busy\">BKM&#8217;s been keeping busy<\/h2>\n\n\n\n<p>Columbia Commerce Park is BKM\u2019s fourth industrial acquisition this year, and its <a href=\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-jv-buys-portland-industrial-campus\/\">second in Portland<\/a>. In February, the firm partnered with BMA Capital Corp. for the purchase of Airport Way Corporate Park, a three-building, 140,693-square-foot industrial campus also slated for capital improvements. BKM\u2019s local portfolio currently totals 1.5 million square feet across seven properties.<\/p>\n\n\n\n<p>Earlier this year, the Newport Beach, Calif.-based buyer acquired industrial spaces in <a href=\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-picks-up-70m-san-diego-asset\/\">San Diego<\/a>, <a href=\"https:\/\/www.commercialsearch.com\/news\/stockbridge-capital-group-sells-1-7msf-national-industrial-portfolio\/\">San Jose<\/a>, Denver and Fort Lauderdale, Fla. The firm has absorbed more than 2.4 million square feet of space in the Western and Southeastern U.S. since the beginning of 2024.<\/p>\n\n\n\n<p>BKM has also been busy on the disposition side. Just last week, the firm <a href=\"https:\/\/www.commercialsearch.com\/news\/bkm-sells-phoenix-industrial-park-for-33m\/\">sold Broadwood Business Centre<\/a>, a 165,154-square-foot light industrial property in Mesa, Ariz. The property sold for nearly $33 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The buyer plans to invest $3 million in capital improvements across the campus.<\/p>\n","protected":false},"author":3012,"featured_media":1004718747,"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":[33648,32790],"class_list":["post-1004718746","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-clarion-partners"],"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 Pays $63M for Portland Industrial Park - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"BKM Capital Partners has acquired Columbia Commerce Park, a light industrial campus in Portland, Ore., from Clarion Partners.\" \/>\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-pays-63m-for-portland-industrial-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BKM Pays $63M for Portland Industrial Park\" \/>\n<meta property=\"og:description\" content=\"BKM Capital Partners has acquired Columbia Commerce Park, a light industrial campus in Portland, Ore., from Clarion Partners.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bkm-pays-63m-for-portland-industrial-park\/\" \/>\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=\"2024-06-26T08:48:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-26T08:48:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Screenshot-168-e1719353905280.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1199\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gabriel Frank\" \/>\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-pays-63m-for-portland-industrial-park\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bkm-pays-63m-for-portland-industrial-park\/\",\"name\":\"BKM Pays $63M for Portland Industrial Park - 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