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Bkm Capital Partners Pays $92M for Industrial Complex in Las Vegas

CIP Real Estate Sells 13-Bldg. Hughes Airport Center
February 14, 2018
CIP Real Estate Property Services sold the 670,902-square-foot Hughes Airport Center industrial complex in Las Vegas to bkm Capital Partners, a CA-based fund manager specializing in the acquisition of value-add, multi-tenant industrial properties.

The warehouse property at 420-839 Pilot Rd. sold for $92 million, or approximately $137 per square foot.

CIT Group Inc., a financial holding company with approximately $50 billion in assets, provided a senior secured credit facility to bkm Capital Partners.

"This is a best-in-class asset, the largest of its scale in the Las Vegas airport submarket, and our firm's biggest transaction to date," said Brian Malliet, co-founder and CEO of bkm Capital Partners.

The industrial park was built in phases between 1994 and 1998 near McCarran International Airport and Interstate 215.

CBRE handles the leasing efforts of Hughes Airport Center.

Please see CoStar COMPS #4123858 for more information on this transaction.
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