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Carlsbad Industrial Park Sold

BKM Capital Partners, based in Newport Beach, has purchased an eight-building Carlsbad industrial park.

Totaling 129,928 square feet at 5205 Avenida Encinas, BKM bought the property from Alexandria Real Estate Assets for $44 million, according to Commercial Property Executive, a real estate newsletter.

BKM Properties plans to change the name of the center, known as Commerce Carlsbad, to Pacific Coast Industrial Center.

Built in 1985, the industrial park has 62 bays with an average size of 2,515 square feet and 66 grade-level loading doors.

“This acquisition presented an opportunity to acquire an asset we’ve had our eyes on for a while,” said BKM CEO Brian Malliet. “It was a rare opportunity to acquire an attractive asset in an irreplaceable location just a quarter mile from the ocean.”

Brad Tecca of Cushman & Wakefield represented the seller. BKM represented itself.

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