BKM Capital Partners (“BKM”) acquired Park Central, a 114,000-square-foot business park in Pompano Beach, Florida, for $33 million. The transaction brings the firm’s Florida footprint to more than 1.4 million square feet less than 18 months after its statewide debut.
Park Central comprises 19 suites averaging approximately 6,000 square feet across three buildings. The property is 95% occupied, with a tenant base led by healthcare users and rounded out by technology, distribution, manufacturing and service businesses.
BKM’s Brett Turner and Max Stone negotiated the purchase directly with the seller, MIG Real Estate. JLL’s Cody Brais advised MIG in the deal.
Built in 1985, Park Central features 16- to 20-foot clear heights, 10 dock-high doors and 22 grade-level doors. Its concrete tilt-wall buildings are rear-loaded, keeping truck traffic behind the office frontage.
BKM, which will rename the property Lighthouse Industrial Park, intends to implement a capital improvement plan at the site.
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