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| Brian Malliet |
SACRAMENTO, CA – BKM
Capital Partners, an institutional fund manager with a niche focus
on value-add, multi-tenant light industrial investments, has acquired Expo
Centre, a 122,253 square-foot multi-tenant industrial business park near
Cal Expo and Downtown Sacramento for $10.1 million.
The seven-building
industrial park was acquired off-market and is located in one of the tightest
industrial metro markets in all of Sacramento, according to Brian Malliet,
CEO and Co-Founder of BKM Capital Partners.
“This acquisition represents our entry into the Sacramento market, and is
located in an A+ infill location in an extremely dynamic industrial submarket,”
says Malliet.
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| Brett Turner |
“The East Sacramento market currently has an
industrial occupancy of approximately 96-percent. This is demonstrative of the
significant demand throughout the region, which will allow us to strategically
position the asset for long-term growth and garner interest from quality
tenants over the next several years.”
Located less than four miles from downtown Sacramento, Expo Centre is currently
81-percent leased with in-place rental rates at approximately 18-percent below
market value.
“Through our integrated property management approach, we will be able to share
resources with our newly acquired property in Fremont, and quickly lease
remaining vacant space, bring rents up to market value, and improve operational
inefficiencies,” explains Malliet.
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| Multi-Tenant Industrial Park near San Francisco, CA |
BKM Capital Partners plans to implement a series of capital improvements to
reposition the property as the market leader in terms of functionality and
aesthetic, according to BKM’s Director of Acquisitions, Brett Turner.
“We always look for
properties where there are opportunities for significant value creation,” says
Turner. “This is a quality asset in a prime location, but is lacking in terms
of needed cosmetic improvements and modernization. We plan to update the
property with new paint, landscaping, and signage, among other improvements.”
Turner explains,
“These capital upgrades will enhance the overall value of the asset, as well as
maximize returns to investors and rent appreciation over time.”
The property is
located alongside the SR-160 at 1761-1791 Tribute Road in Sacramento,
California. BKM Capital Partners acquired the property from a private
syndication managed by Sperry Equities. Palmer Capital represented the seller
in the transaction.
For more information, please contact:
Jordan Kruk /Lexi Astfalk
Brower Group
(949) 955-7940
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