BKM Capital Partners, a Newport Beach-based real estate fund manager and operator, has recently acquired Columbia Commerce Park in Portland’s Airport submarket. The 10-building property spans over 375,000 square feet of light industrial space and was purchased for $62.7 million.
This marks BKM’s fourth acquisition in 2024 as the firm continues its buying spree from last year. Located at 5743 NE Columbia Blvd., the property is currently leased to multiple tenants with an occupancy rate of 93%. Its strategic location near Portland International Airport and downtown makes it a desirable investment opportunity.
To further enhance the value of this asset, BKM plans to invest nearly $3 million in capital improvements such as roof upgrades, parking lot renovations, landscaping enhancements, HVAC system updates and interior space upgrades.
According to Mason Waite , Managing Director of Asset Management at BKM Capital Partners: “As part of an institutional portfolio for over two decades now,the property lacked a proactive operating strategy that could elevate it beyond being just an income-generating asset.Our approach aims to transform it into oneofthe top destinations for high-quality tenants withinand aroundthePortlandAirport submarket.”
The article originally appeared on Connect CRE website.
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