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ANAHEIM, CA-BKM Development of Costa Mesa has acquired land for the third new industrial park announced by the company in recent months, buying a 181,752-sf manufacturing building and the surrounding 8.4 acres from Essex Electric Inc. of East Rutherford, NJ for $6 million, according to Cushman & Wakefield.

Jeff Chiate, Rick Ellison and Peter Sowa of Cushman & Wakefield, who brokered the deal, say that BKM plans to develop a new industrial park at the site, which is at 1075 Patt St., south of the 91 Freeway near Edison Field. The C&W brokers note that the building was constructed in 1954 and is one of the oldest in the city. Seller Essex Electric is one of the largest wire and cable manufacturers in North America and operates its West Coast manufacturing facility out of the building. Under the terms of the sale, Essex will continue to occupy the building for one year through a lease back transaction while BKM makes plans for the new industrial park.

BKM, which is headed by Brian Malliet, has also announced plans in recent months to develop industrial parks in Oceanside and Santa Fe Springs. Its Santa Fe Springs project will be a four-building park on 4.9 acres at 13000 Artic Circle, with the buildings to range from 20,295 sf to 31,203 sf and to be available for sale or lease. The Oceanside development is called Oceanside Gateway Business Park and is planned for 530,000 sf at build-out. The complex is slated to rise on the south side of Oceanside Boulevard, east of College Avenue and west of Peacock Avenue. Upon completion, it will consist of 36 light industrial facilities ranging in size from 5,000 sf to 34,000 sf.

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