Two industrial buildings totaling 195,000 square feet planned for the property
LPC West, the West Coast arm of national real estate firm Lincoln Property Company, in a joint venture with a real estate fund advised by Crow Holdings Capital, has acquired vacant land on Airway Road, just north of the Otay Mesa Port of Entry at the U.S.-Mexico border in the Otay Mesa submarket of San Diego, with plans to develop a ground-up industrial campus. The campus will include two state-of-the-art buildings totaling 195,000 square feet as well as two separate outdoor amenity areas totaling 2,000 square feet.
The site is located approximately three miles from the Otay Mesa Port of Entry at the U.S.-Mexican border and immediately adjacent State Route 905, which connects the Otay Mesa border with the region’s most active thoroughfares, including Route 125, I-5 and I-805.
“We are thrilled to acquire this strategic property, which is ideally located near the border with easy access to key Southern California markets,” said Scott Moffatt, Senior Vice President of LPC West’s San Diego region. “LPC West has grown our industrial portfolio in the San Diego County over the last couple of years and this is an exciting opportunity to develop a high-quality ground-up development that will capitalize on its prime location.”
Earlier this year, LPC West acquired 7615 Siempre Road, an 86,680-square-foot industrial building in Otay Mesa located a few blocks from the new acquisition on Airway Road.
“The Otay Mesa market continues to hold enormous potential for growth as supply chain nearshoring trends continue to take shape,” said Ben Bucci, Vice President of LPC West’s San Diego region. “This acquisition was incredibly attractive to us not just for its location but for the chance to develop a ground-up property that will meet market demand and serve as a best-in-class asset for years to come.”
The LPC West San Diego office has had significant growth over the past 24 months, both in acquiring properties and new development. The firm now owns and manages over 2 million square feet of commercial property in the San Diego Region with an additional 1 million square feet in the development pipeline.
About Lincoln Property Company
Lincoln Property Company, founded in 1965 by its chairman Mack Pogue, is a privately owned real estate firm involved in real estate investment, development, property management and leasing worldwide. Lincoln has offices in all major markets of the U.S. and throughout Europe. Lincoln’s cumulative development efforts have produced over 143 million square feet of commercial space and over 216,000 multifamily residential units. Lincoln Property Company is the second-largest apartment manager in the United States. Access www.lpcwest.com for more information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210817005752/en/
Contacts
Molly Hogin
310-251-5360 | molly@sugermangroup.com
