A real estate alliance comprising BKM Capital Partners and Kanye Anderson Real Estate has acquired multiple East Bay work hubs for a combined $63 million as part of a larger $1.81 billion deal to purchase logistics, industrial, and commercial properties across four states, including California. The newly acquired buildings are located in Fremont and Hayward, according to documents filed on June 8 with the Alameda County Assessor’s Office.
Affiliates of BKM Capital and Kanye Anderson paid $39 million for two Fremont buildings at 48000 Fremont Blvd. and $24 million for a Hayward building at 26269 Research Road.
The properties were purchased from affiliates of PS Business Parks. In addition to the Bay Area properties, the alliance bought buildings in Los Angeles County, Orange County, San Bernardino County, Riverside County, Texas, Georgia, and Washington state.
The overall portfolio totals 8.5 million square feet. This acquisition comes amid rising investor interest and property values for logistics and industrial buildings, even as fading property values, delinquent loans, and foreclosures have impacted the Bay Area’s office, hotel, and apartment markets.
Brian Malliet, BKM’s chief executive officer, stated, "This acquisition marks the largest addition to BKM’s platform to date. Institutional interest in the light industrial segment is rapidly accelerating."