BKM Capital buys Northwest Business Park in Phoenix for $43M

BKM Capital Partners, a Newport Beach, California-based industrial real estate investment manager, paid $43 million for the 232,000-square-foot Northwest Business Park in Phoenix, Arizona. The 11-building complex at 2310-2440 West Mission Lane was acquired at approximately $185.34 per square foot. The firm secured a $32 million mortgage to finance the purchase. BKM focuses on acquiring and repositioning multi-tenant industrial properties in infill markets across the western United States and Sun Belt. Phoenix's industrial market has seen strong absorption from logistics, e-commerce, and manufacturing occupiers, with limited mid-bay and multi-tenant industrial supply.