BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, has acquired Spencer Airport Center, a seven-building 177,597 square-foot multi-tenant industrial park in Las Vegas, Nevada for $15,650,000.
This is the BKM’s fourth acquisition in the Las Vegas market, bringing the firm’s local assets under management to 710,538 square feet.
“The Las Vegas airport submarket in which Spencer Airport Center is located, has demonstrated tremendously high occupancy and consistent demand that is significantly outpacing supply,” says Brian Malliet, CEO and Co-Founder of BKM Capital Partners. “Quality market fundamentals and ongoing growth in the region make our below-replacement-cost and significantly below peak pricing, acquisition of this asset particularly noteworthy.”
BKM purchased Spencer Airport Center at more than 40 percent below replacement costs, according to Malliet.
The property is located at 6744, 6754 & 6830 Spencer Street; 1857, 1863 & 2055 E. Helm Avenue; 1856 & 2060 Pama Lane; and 6745 Surrey Street in Las Vegas, Nevada. The seller, Guardian Financial, was represented by CB Richard Ellis.