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3/03/26
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A Sudberry Properties-led joint venture has obtained a $39.2 mil senior loan for the cash-neutral refinance of California Crossing, a two-building, 450k sf industrial park in San Diego.
The 45% leased property is located at 717 and 755 Harvest Rd, north of Otay Mesa Rd on the east side of Hwy 125. Built in 2023 the property is within the Otay Mesa submarket at the intersection of SR-125 and SR-905, 15 miles from the San Diego CBD and 1.5 miles from the U.S.—Mexico border.
California Crossing consists of two fully sprinklered, ESFR-equipped, Class A industrial buildings with 32’ clear heights, thermoplastic polyolefin (TPO) roofs, and LED lighting. Amazon currently leases one of the buildings (202k sf). The second, 248k sf building is currently vacant and can accommodate single or multiple tenants.
The loan was provided by PCCP and arranged by Aldon Cole of JLL.
Otay Mesa is an established industrial node within San Diego that offers connectivity with Mexico via the Otay 1 border crossing. The area benefits from more affordable rental rates compared to the broader San Diego market, its proximity to the U.S.–Mexico border facilitating international trade activity and a large labor pool, and its connectivity to San Diego's dense population base.
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