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BKM Capital Partners Acquires Carlsbad Industrial Park For $44M
SOLD
$44,000,000
California
See Similar DealsIndustrial129,928 SF
Sold 07/12/2023
SOLD
BKM Capital Partners Acquires Carlsbad Industrial Park For $44M
5205 Avenida Encinas Carlsbad, CA 92008, USA
See Similar DealsIndustrial129,928 SF
Sold 07/12/2023
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$338
Total Square Footage:129,928 SF
Transaction Type:Sale
The Commerce Carlsbad industrial park in Carlsbad, CA has been acquired by BKM Capital Partners for a total of $44,000,000. The industrial park has been renamed the "Pacific Coast Industrial Center" by the new owners. It consists of 62 small bay units covering a total area of 129,928 square feet. The transaction represents a price per square foot of $339.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $44,000,000
- Address: 5205 Avenida Encinas, Carlsbad
- Market: Carlsbad
- Buyer: BKM Capital Partners (Brian Malliet & Brett Turner)
- Broker: Brad Tecca - Cushman & Wakefield
- Square Footage: 129,928
- Price per Square Foot: $339
BKM Capital Partners, led by Brian Malliet and Brett Turner, successfully completed the acquisition of the Commerce Carlsbad industrial park. Brad Tecca from Cushman & Wakefield served as the broker representing the buyer in this transaction. The park is set to undergo substantial capital improvements under the new ownership.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$156,322.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$208,582.45
Annual Debt Service$2,502,989.37
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