BKM Capital Partners has expanded its industrial-focused portfolio in Florida with the acquisition of Park Central, a 114,000-square-foot business park in Pompano Beach. The company purchased the three-building asset for $33 million, adding to a statewide footprint that has grown to more than 1.4 million square feet in less than 18 months since entering the Florida market.
Park Central consists of 19 suites that average roughly 6,000 square feet each. The property is reported to be 95% occupied, with tenants led by healthcare users and complemented by technology, distribution, manufacturing and service-oriented businesses. This diverse tenant base suggests the park serves a mix of light industrial and business services needs within the local market.
The buildings at Park Central were completed in 1985 and feature industrial characteristics including 16- to 20-foot clear heights, 10 dock-high doors and 22 grade-level doors. The structures are concrete tilt-wall and are rear-loaded, a configuration designed to keep truck traffic behind the office frontage and separate from the customer-facing areas of the property.
BKM acquired the park directly from MIG Real Estate. The deal was negotiated in-house by BKM representatives Brett Turner and Max Stone, who worked directly with the seller. MIG Real Estate was advised in the transaction by JLL, with Cody Brais of JLL providing guidance to the seller.
Following the close, BKM plans to reposition the asset under a new name, Lighthouse Industrial Park. As part of the change in branding, the buyer intends to implement a capital improvement plan at the property. While specific project details have not been disclosed, the initiative signals an effort to further enhance the park’s functionality and appearance in support of its existing tenant roster and future leasing efforts.
The Pompano Beach business park’s combination of high occupancy, multitenant configuration and functional industrial features made it an attractive target for BKM as it continues to scale its presence in Florida. The acquisition underscores the firm’s strategy of aggregating multi-tenant industrial assets in growth markets and then investing additional capital to maintain or improve their competitive position.
