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6/04/19
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LaSalle Investment Management purchased a two-building industrial portfolio totaling 201k sf in San Diego’s Otay Mesa submarket. Situated on 14.62 acres within the 2 msf Siempre Viva Business Park, the portfolio is located at 8500 Kerns St and 2600 Melksee St and features convenient access to San Diego’s major distribution corridors, including Interstates 5, 8, 15 and 805, which connect to Southern California’s vital trade routes.
The portfolio is in San Diego’s Otay Mesa Industrial submarket, which is home to the highest concentration of Fortune 500 companies in San Diego and benefits from its proximity to the Otay Mesa Port of Entry at the United States/Mexico border. Originally constructed in 2016 and 2019, the portfolio properties feature 28- to 32-foot clear heights, wide truck courts, loading via 50 dock-high and eight grade-level doors and a low office build-out.
Nick Psyllos and Kara Mathis with HFF represented the seller, San Diego-based Murphy Development Company. The price was not given out.
According to Kaitlin Arduino, Murphy Development Company EVP, the firm has landed a number of Fortune 500 tenants at the business park over the years, including Becton Dickinson and Mainfreight.
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