PHOENIX—Cassidy Turley announces that Irvine-based BKM Capital Partners acquired Black Canyon Business Park, a 219,090-square-foot business park at 8041 N. Black Canyon Freeway for $13.1 million. The seller was Business Properties, also of Irvine.
Senior managing directors Bob Buckley, Tracy Cartledge and Steve Lindley with Cassidy Turley's capital markets group and vice president John Pompay with Cassidy Turley's industrial group brokered the transaction representing both parties.
“The project has an outstanding location, with freeway exposure,” Buckley says. “With the ability to capitalize on improving market conditions and tenant demand, Black Canyon Business Park offered exceptional value and upside potential for the buyer.”
Black Canyon Business Park is a 15-building business park with office, flex industrial and retail spaces ranging in size from 1,200 to 13,000 square feet. Built between 1975 and 1984, the property is located on the northeast corner of Northern Avenue and Interstate 17. The property was 34% leased at the time of sale.
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