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9/01/22
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In industrial development news out of San Diego County, Murphy Development Company (MDC) secured $35.35 mil in construction financing for the development of Phase II of Brown Field Technology Park, two to-be-built Class A industrial buildings totaling 203.2k sf in the Otay Mesa submarket. JLL arranged the non-recourse construction loan through a regional bank.
Phase II of Brown Field Technology Park will feature two modern state-of-the-art industrial buildings with clear heights ranging from 32 to 34 feet, up to 41 dock-high doors, up to eight grade-level doors, ESFR fire protection and low office finish. The buildings, which are anticipated to be delivered in the second quarter of 2023, are part of MDC’s Brown Field Technology Park, a 50-acre master-planned corporate industrial development in Otay Mesa that is entitled for more than 3.2 msf of state-of-the-art designed buildings.
The 13.81-acre site for Phase II of Brown Field Technology Park is within San Diego’s highly sought-after Otay Mesa Industrial submarket, which is a thriving market on the U.S.-Mexico border with a strong labor pool, central location, corporate neighbors and easy freeway access. The site is also less than a mile from Brown Field Municipal Airport and near the Otay Mesa Land Port of Entry, the largest commercial land port of entry in the nation with more than $50 bil in annual trade.
JLL’s Aldon Cole, Bryan Clark and Bradley Vansant arranged the deal.
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