Newport Beach Firm Buys Four San Diego County Industrial Buildings
Thursday, February 7, 2019
Carlsbad building is among four acquired by BKM Capital
BKM Capital Partners based in Newport Beach has acquired four light industrial buildings – two in Sorrento Mesa and two in Carlsbad – for nearly $16.6 million.
The four buildings have a total of 99,187 square feet of space.
The Carlsbad buildings at 6352 and 6354 Corte Del Abeto were developed in 1986 and have 63,893 square feet of space combined on a nearly 5.8-acre site.
The Sorrento Mesa buildings of Waples Industrial Centre were developed in 1988 and include 35,294 square feet of space on a one-acre site.
Mark Avilla, Justin Halenza and Michael Mahoney of Cushman & Wakefield represented the seller, who was not disclosed.
BKM Capital Partners represented themselves.
“This was an excellent opportunity for BKM to acquire a significant portfolio of well-maintained, well located and fully leased properties in two of Southern California’s fastest growing submarkets,” Avilla said. “Carlsbad, a market growth leader in North County, and Sorrento Mesa, a premier tech market set in Central County, have undergone rapid expansion over the last few years and continue to be positioned for long-term commercial growth.”
Halenza said the four buildings have 18 tenants with staggering lease terms.