Newport Beach-based industrial investor BKM Capital Partners is growing its presence in the Pacific Northwest, recently acquiring a 123,664 square foot industrial building in Marysville, Wash. The property was purchased for $20.3 million, or about $164 per square foot, according to Snohomish County public records. The seller in the transaction was an entity affiliated with Pacific Constructors International.
The property is located across several addresses which includes 14800, 15000, 14900 and 15100 40th Ave. NE on more than eight acres.
The property is known as Pacific Industrial Park, and according to Google Maps, is occupied by several tenants. These include Snohomish County, Soundview Plumbing and Lamar Technologies Corporation, among many others.
Located in northern Marysville, the property is near a number of other manufacturing, distribution and warehouse buildings. The property is also located just off Interstate 5, providing easy access to Seattle and the rest of the metropolitan area.
BKM Capital Partners was founded in 2013 and specializes in the acquisition and improvement of multi-tenant industrial properties throughout the Western United States. Currently, the company’s portfolio includes 8.1 million square feet of industrial space and approximately $1.85 billion worth of assets under management.
In one recent deal, the company acquired a three-building industrial portfolio in Portland from the Gardeners and Ranchers Co-op for $18.55 million. Totaling about 100,000 square feet, the portfolio consists of a multi-tenant industrial park at 17800-17900 NE Riverside Parkway and a single-tenant industrial building located at 4930 S.E. 26th Ave.