BKM Capital Partners Acquires San Diego's Canyon Industrial Center For $70.2M

The industrial property located at 9424-9560 Chesapeake Drive in San Diego was acquired by Brian Malliet & Brett Turner of BKM Capital Partners for $70.2 million. The asset encompasses 198,728 square feet with a price per square foot of $353, positioning it as a valuable investment in the San Diego market.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $70,200,000
• Buyers: Brian Malliet & Brett Turner - BKM Capital Partners
• Brokers: Bryce Aberg, Jeff Chiate & Jeffrey Cole - Cushman & Wakefield
• Address: 9424-9560 Chesapeake Drive
• Market: San Diego
• Square Footage: 198,728
• Price Per Square Foot: $353

The acquisition of San Diego's Canyon Industrial Center by BKM Capital Partners involves a planned investment of over $1.7 million. The property is set to undergo upgrades and lease transitions to NNN, with the goal of transforming it into a Class A asset. This move comes amid a surge in tenant demand, driven by the conversion of neighboring industrial spaces into life science facilities, which presents BKM with promising leasing prospects in a competitive market.