BKM Capital Partners affiliate acquires 9-building complex in premier location near TSMC
PHOENIX AZ – (March 14, 2025) – Cushman & Wakefield has advised Newport Beach, CA-based BKM Capital Partners in the sale of Rose Garden Business Park, a 159,304-square-foot small-bay industrial park comprising nine buildings on ±10.21 acres in Phoenix, Arizona. The multi-tenant complex is located at 1801-1831 West Rose Garden Lane and 20801-20823 North 19th Avenue in the Deer Valley submarket. The property is currently fully leased and sold for $35.1 million. The buyer was an affiliate of BKM Capital Partners.
The seller was represented in this transaction by Cushman & Wakefield’s Bob Buckley and Tracy Cartledge, in collaboration with Cushman & Wakefield’s National Industrial Advisory Group—Mountain West, led by Will Strong, Michael Matchett, Molly Hunt, Jack Stamets, and Madeline Warren.
“Rose Garden Business Park is an exceptional project offering functional Suite Layouts catering to the small-bay user. This segment of the market continues to demonstrate robust tenant demand, limited available supply, and increasing rents. These market fundamentals have resulted in rapidly improving property operations. Furthermore, the seller’s significant capital infusion into upgrading the complex prior to the sale resulted in a notable increase in occupancy bringing it to 100% leased,” said Bob Buckley.
“The premier Deer Valley submarket continues to thrive, driven by high-tech manufacturing, warehousing, and a large services sector that has transformed the area. At the core of this Market improvement is TSMC’s and Amkor Technology’s new chip-manufacturing plant(s) in north Phoenix, which has propelled the prolific industrial growth happening in the area,” added Michael Matchett.
Rose Garden Business Park is highly visible at the corner of West Rose Garden Lane and North 19th Avenue. The property is less than a half mile from the Loop 101 Freeway and I-17 Interchange. The complex was originally built in 1987 and features an 18-foot clear height, 43 grade-level doors, and 16 dock doors.