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7/27/23
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Runway Distribution Center, a newly built distribution facility totalling 200k sf in Otay Mesa, was acquired by an Ares Management real estate fund. The property was sold by Lincoln Property Company and a real estate fund advised by Crow Holdings Capital.
Runway Distribution Center is situated on an 11.91-acre parcel and consists of two newly built, Class A, institutional-quality distribution facilities. Key features of the buildings include 32-foot and 36-foot clear heights, 53 dock-high doors, six grade-level doors and 16 trailer parking stalls, which makes this the most functional industrial project to be built in San Diego in recent years.
The distribution center is located in the U.S./Mexico border-adjacent submarket of Otay Mesa, which has experienced tremendous growth over the last several years due to its improved infrastructure, abundant labor supply on both sides of the border and increased nearshoring demand. The property is less than one mile from the U.S./Mexico Port of Entry and just 22 miles from the San Diego International Airport. The nearby Otay Mesa Land Port of Entry is the largest commercial land port of entry, with over $46 bil in annual trade, and offers pedestrian crossing into the Tijuana International Airport via Cross Border Xpress.
The JLL Capital Markets Investment Sales and Advisory team was led by Senior Director Ryan Spradling, Senior Managing Director Mark Detmer, Managing Director Ryan Sitov and Associate Makenna Peter, and the Markets team was led by Andy Irwin and Greg Lewis.
Ryan Spradling, Mark Detmer, Ryan Sitov, Makenna Peter, Andy Irwin and Greg Lewis with JLL Capital Markets represented the seller in the deal, and procured the buyer.
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