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SANTA FE SPRINGS, CA-BKM Development Co. LLC of Costa Mesa has purchased 4.85 acres at 13000 Artic Circle and plans to develop a four-building industrial project at the site, according to CB Richard Ellis.

CBRE brokers who represented the developer in the land purchase say BKM plans to build four freestanding industrial buildings that will be available for sale or lease. The new buildings will range in size from 20,295 sf to 31,203 sf, with the completed project expected to total 105,942 sf. Two of the buildings are already in escrow. Construction on the new development began in mid-July and is scheduled for completion during the fourth quarters of this year. The buildings will be high-image, concrete tilt-up structures with glass entries.

BKM paid nearly $2.9 million for the parcel, which it acquired from Prologis Trust in a deal brokered by Ben Seybold, Steve Batcheller and Zachary Niles of the Anaheim office of CB Richard Ellis, along with Richard McGeagh of the CB Richard Ellis South Bay Office. The same CBRE brokers are also the listing agents for leasing and sales of the buildings, two of which are already in escrow.

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