PHOENIX — BKM Capital Partners has acquired Wier Thirty6 Business Park, an industrial asset in Phoenix, for $21.6 million. The asset is situated on 5.8 acres at 3610-3660 E. Wier Ave. and 4633-4645 S. 36th St. in Phoenix’s Airport submarket.
Built 1986, the 104,146-square-foot property consists of nine freestanding buildings housing 10 units with an average size of 10,415 square feet. The park features 18-foot clear heights, five truck wells, 10- by 12-foot grade-level doors and 243 parking spaces, as well as a 48 percent office component.
The buildings are fully leased to a variety of tenants, including Service Education AZ, RestorationHQ, WSP USA Environment & Infrastructure and the U.S. General Services Administration.
BKM had originally purchased the asset in 2018, when it was known as Diablo Business Center, for $8 million. The firm invested more than $2 million in deferred maintenance, cosmetic upgrades and speculative tenant improvements on the property.
Bob Buckley, Tracy Cartledge, Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield represented the undisclosed seller in the deal.
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