BKM Capital Partners Acquires SeaTac Industrial Park For $29 Million With Planned Renovations

The industrial property located at 18802-19024 13th Place South in SeaTac, WA encompasses a total square footage of 129,677 SF and was sold for $29,000,000. At the time of purchase, the property was 92% leased. The price per square foot is calculated at $224. The new owner plans to execute a renovation project valued at $2,000,000, which will include unit reconfiguration, roofing, and parking upgrades.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $29,000,000
• Square Footage: 129,677 SF
• Address: 18802-19024 13th Place South
• Market: SeaTac, WA
• Buyer: BKM Capital Partners
• Leased Percentage at Purchase: 92%
• Renovation Budget: $2,000,000

BKM Capital Partners conducted this acquisition as an off-market transaction. The renovation efforts will focus on enhancing the functionality and aesthetics of the property, ensuring its alignment with market demands.