BKM and Kayne Anderson Purchased Northridge Commons
The investment firms acquired the Sandy Springs industrial campus for $100 million.
Updated on Oct. 13, 2026 in Commercial
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BKM Capital Partners and Kayne Anderson Real Estate have purchased Northridge Commons, a 471,000-square-foot industrial campus in Sandy Springs. The transaction saw the site change hands for $100 million following its previous acquisition by Third & Urban in February 2025.
Why it matters
The acquisition marks a significant turnover for the 38-acre site, which is currently 90 percent leased. BKM Capital Partners intends to renovate the property, which was originally developed in the early 1980s.
Northridge Commons spans 471,000 square feet across seven buildings on 38 acres. The site is currently 90 percent leased and features 18 dock-high doors and 80 grade-level doors.
The players
BKM Capital Partners
This firm is a real estate investment manager that holds 1.5 million square feet of industrial property in the metro Atlanta area.
Kayne Anderson Real Estate
This investment firm manages $21 billion in real estate assets across various sectors.
Third & Urban
This firm is a real estate developer that previously held ownership of the Northridge Commons campus.
The details
The facility, built between 1981 and 1982, includes units with 14- to 19-foot clear heights. New ownership plans to modernize the asset through exterior painting, HVAC system upgrades, and various parking and roof improvements.
Timeline
The Northridge Commons campus was originally developed between 1981 and 1982.
Third & Urban acquired the industrial asset for $56 million in February 2025.
BKM Capital Partners and Kayne Anderson completed the acquisition in October 2026.
Culture Shift
This acquisition follows the ongoing industrial property repositioning cycle in metro Atlanta, signaling continued investor interest in upgrading aging regional warehouse assets. Such investments highlight the shift toward revitalizing legacy infrastructure to meet modern industrial standards.
Residents and local businesses may see immediate changes to the site including new landscaping, signage, and exterior building updates. These property improvements are scheduled to take place over the coming months as the new owners begin their planned repositioning.
The takeaway
The rapid turnover of this industrial asset underscores the high value placed on well-located, multi-tenant warehouse space. Investors should monitor how these planned capital improvements impact the property's long-term lease rates and tenant stability.
What happens next
BKM Capital Partners has targeted the stabilization of vacant suites at the Northridge Commons campus within 20 months.
Further reading
For more on the regional market, see Sandy Springs Commercial.
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