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The Burbank industrial market—like many submarkets of Los Angeles—is red hot with a sub 1% vacancy rate and rising demand. The market driver in Burbank, however, isn’t your standard ecommerce company or third-party logistics user, which are the industries driving much of the demand throughout Los Angeles. No, it is entertainment users driving activity in this market, and these creative companies, which house film equipment and service the surrounding studios, want creative spaces.

BKM Capital Partners is responding to the call. The value-add industrial investor has acquired Backlot Burbank, a 12-building, 302,869 square-foot industrial business park, for $84.8 million. The property currently has a mix of entertainment warehouse users and aerospace manufacturing users, but BKM has witnessed the increasing demand for entertainment-friendly spaces. It plans to transition the business park into an entertainment hub with creative industrial upgrades. “This product is driven to the creative and entertainment tenants. The studios need warehouses that can run equipment back-and-forth all day and store it overnight. It is the lighting guys, the camera guys and the costume guys,” Brett Turner, director of acquisitions at BKM Capital Partners, tells GlobeSt.com.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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