BKM Capital Partners has expanded its industrial holdings with the purchase of Goldenwest Circle Business Park in Westminster for $62 million. The company acquired the 12-building industrial complex in an off-market transaction on behalf of its BKM Industrial Value Fund III, adding a fully leased asset to the fund’s portfolio.
The business park totals approximately 231,000 square feet of industrial space across 12.3 acres. It is located at the intersection of Bolsa Avenue and Interstate 405, where the property benefits from direct frontage along one of Southern California’s most heavily traveled freeways. According to BKM, this level of visibility is uncommon among industrial parks and is considered a distinguishing feature of the asset.
The property is fully occupied, providing in-place cash flow at closing. BKM indicated that acquiring the park at a price materially below estimated replacement cost creates room for reinvestment in both the buildings and shared common areas. The firm views the combination of existing income and a stable tenant base as providing time to upgrade the asset and deepen tenant relationships ahead of future lease renewal cycles.
Brett Turner, partner and chief investment officer at BKM, led the acquisition effort for the buyer. He was joined on the transaction by Michael Grossner, senior director of acquisitions and dispositions at the firm. Their mandate on behalf of BKM Industrial Value Fund III was to secure an industrial property that already functions well for tenants while offering upside through targeted capital improvements.
On the seller’s side, CBRE’s Darla Longo advised the ownership in the disposition of Goldenwest Circle Business Park. The transaction was completed off-market, underscoring direct negotiations between the parties rather than a broad marketing process. Specific details about the seller and financing structure were not disclosed in the available information.
Situated in a mature industrial corridor with direct freeway frontage, Goldenwest Circle Business Park offers a combination of stabilized occupancy and high visibility that BKM believes will support its reinvestment strategy. With the asset now under the control of BKM Industrial Value Fund III, the buyer plans to focus on physical enhancements and common-area upgrades while maintaining continuity for existing tenants.
