BKM Capital Partners, Kayne Anderson Real Estate Acquire 210,000-SF Fort Lauderdale Business Park
BKM Capital Partners and Kayne Anderson Real Estate have acquired Lakeview Center, a 210,000-square-foot multi-tenant business park in Fort Lauderdale, Fla., the firms announced Oct. 1. The property will be rebranded as Stirling Landing and is BKM's second Broward County acquisition, following its purchase of Aero Business Park the previous month.
Cushman & Wakefield Vice Chair Rick Brugge represented the seller in the transaction. Brett Turner, a partner and managing director of acquisitions and dispositions at BKM, led the acquisition with support from Max Stone, BKM's associate director of acquisitions and dispositions.
Property Details: Stirling Landing in Fort Lauderdale's Airport Submarket
Developed between 1985 and 1987, the park comprises 18 units across seven buildings. It is 97% occupied, with a weighted average lease term of 3.9 years. The buildings offer 20-foot clear heights with dock-high loading, a combination the firm said is found in fewer than 5% of industrial buildings in the immediate area.
The property sits in Fort Lauderdale's Airport submarket and fronts Stirling Road. It has direct access to I-95, I-595 and Florida's Turnpike and is close to Fort Lauderdale-Hollywood International Airport. Its multi-building configuration serves a mix of logistics operators, marine-related businesses, contractors and companies supporting South Florida's trade and tourism economy.
"You could not build this park today, let alone assemble a site like it along the I-95 corridor," Turner said. "What really made it work for us is the rent roll. The expirations are staggered and no single lease decides the outcome, so we're building on a stable base rather than solving a problem first."
BKM Capital Plan and Repositioning
BKM has devised a capital plan covering both exterior work and rollover improvements. Planned work includes HVAC replacements, targeted roof maintenance, exterior painting to BKM's brand standards, water-efficient landscaping, parking lot upgrades, and new building and tenant signage.
The firm will reposition the park's one vacant unit into market-ready industrial space. It also plans to establish a distinct identity for the property through monument signage, wayfinding and enhanced entry features along the Stirling Road frontage, along with tenant-focused outdoor areas that take advantage of the site's campus-style setting.
Aero Business Park, the firm's earlier Broward County purchase, is a 61,135-square-foot light industrial property on more than four acres along NW 53rd Street in Fort Lauderdale, formerly known as Palm Crossing South. BKM said it would receive upgrades to HVAC systems, roofs, parking areas, paint and signage. Together, the two acquisitions add at least 271,135 square feet of Fort Lauderdale-area industrial space to BKM's platform. The deal also follows BKM and Kayne Anderson Real Estate's previously announced acquisition of a $1.8 billion portfolio of light industrial assets.
Broward County Industrial Market Conditions
Broward County closed the second quarter of 2026 at 5.4% vacancy, the lowest in Florida, with Central Broward at 3.9%, according to Cushman & Wakefield. The county recorded 140,878 square feet of deliveries in the first half of the year against more than 1.1 million square feet of leasing. Central Broward had no deliveries and nothing in its construction pipeline.
"South Florida is unusual in that the small-bay inventory is actually shrinking," said Brian Malliet, BKM's founder, CEO and chief investment officer. "Older buildings keep getting redeveloped into something that pays more per acre, and there's no land left to replace them. Broward is already the tightest industrial market in the state and Central Broward is tighter than the county as a whole. Those numbers get harder to beat every year."
Other brokerage data show a somewhat different picture, reflecting differences in geographic definitions and methodology. CBRE reported Broward second-quarter vacancy at 6.2%, down from 6.4% in the first quarter but up from 4.6% a year earlier. CBRE also reported 245,000 square feet of positive net absorption, average asking rents of $17.58 per square foot, 9.9% availability and about 1.2 million square feet under construction, down from 1.7 million square feet a year earlier and 3.3 million square feet in the first quarter of 2020.
Lee & Associates reported a South Florida-wide vacancy rate of 6.7% and a fifth consecutive quarter of negative net absorption totaling about 2.30 million square feet. It put average asking rents at $17.59 per square foot NNN, average sales pricing at $238 per square foot and cap rates near 7.0%.
Regional Economic Backdrop
Broward County has grown its population 15.2% since 2010 and is home to more than 200 corporate, regional and international headquarters, including AutoNation, American Express and DHL Express. Trade and transportation account for 21.0% of county employment. The broader tri-county region of Miami-Dade, Broward and Palm Beach has 6.2 million residents and a $1.07 trillion economy, the eighth largest in the country.
BKM, which focuses on small- and mid-bay light industrial properties, and Kayne Anderson Real Estate have now added two Fort Lauderdale assets in successive months, in a county where delivery volumes have been limited relative to leasing activity.
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BKM Capital Partners: BKM Capital Partners and Kayne Anderson Real Estate Acquire Fort Lauderdale Business Park