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7/18/22
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Dalfen Industrial purchased an 86.7k sf, freestanding industrial building in San Diego’s Otay Mesa submarket for $24.85 mil ($287/sf). The property was sold by a partnership between Alcion Ventures and Lincoln Property Company West, who initially purchased and leased the property in February of 2021.
Located at 7615 Siempre Viva Rd, the property is divisible by 45.2k sf and features 20 dock-high doors, two grade-level roll-up doors, a sprinkler system, 27’-28’ clear height, 1,500 amp power, a 180’ truck court, and 7k sf of office space.
Dalfen Industrial plans to lease the property following minimal tenant improvements to the existing office spaces. Being so close to the U.S./Mexico border, the property offers an ideal lease opportunity for tenants with cross-border business.
Colliers’ Mark Lewkowitz and Chris Holder represented both parties in the transaction.
“Over the last few years, Otay Mesa has become a much more dynamic market for institutional investors,” says Mark Lewkowitz. “The shift is fueled by the nearshoring trend in Mexico, quality of the product manufactured, and the now record-low vacancy rate. Otay Mesa had more absorption in 2021 than anywhere else in San Diego County combined, and the market is on track for another record year.”
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