News release

5-building light industrial park in Phoenix trades

JLL Capital Markets closed the sale of Tempe Commerce Park and arranged an acquisition loan for the buyer

February 24, 2021

PHOENIX, Feb. 24, 2021 – JLL Capital Markets announced today that it has closed the sale and arranged an acquisition loan for Tempe Commerce Park, a five-building multi-tenant light industrial park totaling 536,051 square feet in Tempe, Arizona.

JLL marketed the property on behalf of the seller, BKM Capital Partners. Investcorp has acquired the asset. Additionally, working on behalf of the new owner, JLL placed the five-year, floating-rate acquisition loan with a life company.

Tempe Commerce Park comprises five buildings at 7340, 7350 and 7360 S. Kyrene Road and 7343 and 7333 S. Hardy Drive on 37.7 acres within the infill Tempe submarket. This position is minutes from Sky Harbor International Airport, downtown Phoenix, a BNSF intermodal facility and Interstate 10, which offers easy access to Phoenix and other major cities in the Southwest. This location allows tenants to reach more than 1.8 million people within 15 miles of the property and nearly 4.9 million within 55 miles. Additionally, numerous key markets like Los Angeles, San Diego and Las Vegas are reachable within a day’s drive.

The buildings have been institutionally owned and maintained since they were constructed between 1995 and 1997. The buildings feature 24- to 28-foot clear heights and ample parking. At 93 percent leased, Tempe Commerce Park is home to eight tenants with the majority of the tenancy consisting of investment grade tenants.

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Director Mark Detmer and Senior Director Ryan Sitov, along with local market experts Executive Vice President Steve Sayre and Managing Directors Mark Gustin and Dave Seeger.

The JLL Capital Markets Debt Placement team representing the new owner included Executive Managing Director Kevin MacKenzie, Senior Managing Director Michael Gigliotti and Director Jason Carlos.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About BKM Capital Partners

BKM Capital Partners was founded in 2013 by Brian Malliet. Headquartered in Newport Beach, California, BKM Capital Partners is a real estate fund manager specializing in the acquisition and improvement of value-add light industrial multi-tenant properties in metro areas across the Western U.S. Combining a deep knowledge of this niche industrial product type with a vertically-integrated operator platform that includes in-house capabilities to reposition and convert existing assets, enhance property management, incorporate leasing management and institutionalize light industrial properties characterized by fragmented ownership positions. The firm continues to build on its proven track record, generating strong results with high levels of transparency and engagement for investors. Additional information is available at

About Investcorp 

Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes and infrastructure. Since its inception in 1982, Investcorp has focused on generating attractive returns for its clients while creating long-term value in our investee companies and for its shareholders as a prudent and responsible investor.

Investcorp invests a meaningful portion of its own capital in products the offer to its clients, ensuring that Investcorp’s interests are aligned with its stakeholders, including the communities that Investcorp operates within, towards driving sustainable value creation. Investcorp takes pride in partnering with its clients to deliver tailored solutions for their needs, utilizing a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative, entrepreneurial approach.

Investcorp today has a presence in 12 countries across the US, Europe, GCC and Asia, including India, China and Singapore. As of December 31, 2020, Investcorp Group had US $35 billion in total AUM, including assets managed by third party managers, and employed approximately 430 people from 43 nationalities globally across its offices. For further information, visit and follow them @Investcorp on LinkedIn, Twitter and Instagram.