Originally acquired in 2018 at a significant discount to replacement cost, Hughes Airport Center provided an opportunity to revitalize a Class-A campus with outdated configurations and underperforming operations. Over the six-year hold period, BKM implemented a $9.2 million improvement plan and executed 88 leases, converting over 260,000 square feet of office-heavy space into highly functional small-bay industrial suites. The result: a 41% increase in net operating income, a 45% lift in in-place rents, and an average occupancy rate of 96%.
"This case study exemplifies how our vertically integrated platform and disciplined strategy deliver strong outcomes for our investors while meeting the evolving needs of industrial tenants," said Brett Turner, Senior Managing Director, Acquisitions and Dispositions at BKM Capital Partners. "From infrastructure upgrades to cosmetic transformations, every improvement at Hughes Airport Center was designed to elevate performance and tenant experience."
Las Vegas remains one of the fastest-growing industrial markets in the Western U.S., with strong logistics fundamentals, regional connectivity, and consistent demand for functional small-bay space. The case study not only captures BKM's successful execution in this context, but also underscores its market leadership across the metro, where the firm owns and operates more than 2.8 million square feet across 15 assets.
Read the full case study here: https://content.bkmcapitalpartners.com/hughes-airport-center-case-study
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Source: BKM Capital Partners
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