JV Expands California Industrial Portfolio With East Bay Purchase
BKM Capital Partners and Canyon Partners Real Estate acquired Cabot Business Park in Hayward. The 139,664 SF multi-tenant industrial property is the second investment from BKM’s programmatic JV with Canyon Catalyst Fund. The JV acquired Ponderosa Technology Park in San Diego in June.
“Hayward is quickly becoming a key infill industrial market with unique connectivity to the major transportation infrastructure and leading Bay Area employment centers,” BKM co-founder and CEO Brian Malliet said.
Continued growth has led to low vacancy of less than 1% for multi-tenant industrial products, according to BKM Director of Acquisitions Brett Turner. The property is 91% occupied and the JV will focus on retaining high-quality tenants as it works on capital improvements to the property.
The nearly 11-acre, four-building property was built in 1986. Units average about 2,800 SF, but can be combined or divided depending on the tenant’s needs.