Otay Mesa Industrial Buildings Sold For $33M
A pair of Otay Mesa industrial buildings have been sold for $33 million.
Murphy Development Company based in San Diego sold the two-building portfolio to LaSalle Investment Management.
The buildings at 8500 Kerns St. and 2600 Melksee St. occupy 14.6 acres within the Siempre Viva Business Park.
Constructed in 2016 and 2019, the buildings in the portfolio feature 28-foot to 32-foot clear heights, wide truck courts, 50 dock-high doors, eight grade-level doors and a low office build-out.
“The sale of our last two buildings at the 2.1 million square-foot Siempre Viva Business Park is bittersweet for us,” said Kaitlin Arduino, executive vice president of Murphy Development Corp.
“We’ve had a successful track record in this park, which we started back in the early 2000’s, landing a number of Fortune 500 tenants over the years, including Becton Dickinson and Mainfreight,” Arduino said.
Representing Murphy Development and La Salle Investment Management was an HFF investment advisory team led by Nick Psyllos, senior managing director, and Kara Mathis, senior associate.