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4/04/23
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Kearny Real Estate Company has commenced grading the 26-acre final phase of the 311-acre Otay Crossings Commerce Park in Otay Mesa, for the development of four industrial buildings ranging in size from 45k sf to 205.5k sf.
The development site is located at the southernmost point of the industrial park at the intersection of Siempre Viva and Paseo Del La Fuente Rds, immediately adjacent to the future U.S.-Mexico Point of Entry. The four buildings will have direct access to the SR-11 Fwy, which will connect to California State Routes 905 and 125 and other major Western U.S. truck routes.
“The Otay Mesa industrial market has experienced tremendous growth over recent years,” said Jeff Givens, partner, and a member of Kearny’s San Diego office. “Market vacancies have hovered around 3% and a growing diversified base of users have migrated to the Otay market as the need for Class A industrial facilities has increased across San Diego County.”
The buildings will provide divisible suites down to 25k sf and will feature dock-high and grade level doors, 32–36-foot minimum clear heights, and truck courts with depths up to 180 feet. The $90 mil final phase also will include a 3.6-acre trailer lot with 47 stalls serving as an “amenity” feature for users seeking additional area for storge of materials and/or trailers. Delivery of the first building (45.1k sf) is expected in the fourth quarter of this year with of the remaining buildings being delivered early 2024.
The San Diego/North Baja economy continues to evolve with an ever more diverse roster of industries relying on the cross-border infrastructure. The value of trade between San Diego and Mexico exceeds $4 bil per year.
“The border crossing adjacent location, along with its flexible space offerings will provide optimal locations for users who service the Otay market and/or onshoring operations in Mexico,” Givens added.
Kearny is also the master developer of the 311-acre Otay Crossings Commerce Park, one of the largest contiguous master-planned industrial developments in San Diego County. Kearny has developed and managed more than 12.5 msf of industrial product in Southern California, including two state-of-the-art projects totaling 1.2 msf in Torrance and Corona, which will be completed in the next 30 days.
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