BKM Capital Partners, a real estate fund manager based in Newport Beach, CA has acquired the Valley East Industrial Park in North Hollywood for $25.3 million. The two-building facility is comprised of 36 units and 84,000 square feet of light industrial space that will be renamed Backlot NoHo as part of BKM’s repositioning plan. JLL represented the seller LAIS Equities during this transaction.
The firm is investing an additional $6.3 million to upgrade the asset’s performance and efficiency while adhering to their ESG standards; renovations include reconfiguring some units into larger suites desired by modern tenants due to its proximity within one of largest concentrations of studio production and entertainment operations worldwide .
Brian Malliet, Founder at BKM commented: “This market has a very limited supply with vacancy under 2%. This acquisition presents significant opportunities for our team to add value delivering an asset that will stand out in Burbank/North Hollywood light industrial market.”
