Murphy Development sells two industrial buildings at Brown Field Technology Park in Otay Mesa Area of San Diego, CA

  

Kaitlin M. Arduino

SAN DIEGO, CA – Murphy Development Company (MDC) has sold two industrial buildings, Building A, a 105,457-square-foot building, and Building C, a 124,223-square-foot building, at Brown Field Technology Park (BFTP), a 52-acre corporate industrial and office park that flanks SR-905 at the Britannia Boulevard on/off ramp in the Otay Mesa area of San Diego, California. 

Andy Irwin

Hines acquired the buildings on behalf of the Hines U.S. Property Partners Fund (“HUSPP” or the “Fund”), the firm’s flagship commingled U.S. core plus fund.

The Fund is also under contract to acquire an additional two buildings at BFTP, totaling 203,244 square feet, with construction completion scheduled for Q2 2023.

JLL’s Andy Irwin, Joe Anderson and Greg Lewis represented MDC in the sale of the buildings along with Cushman & Wakefield’s Jeff Chiate, Jeffrey Cole and Bryce Aberg.  Irwin, Anderson and Lewis continue to oversee leasing at BFTP’s other buildings.

Joe Anderson

“With continued growth of ecommerce, onshoring and tight industrial markets, we saw very strong demand from users and investors for Brown Field Technology Park,” said Kaitlin M. Arduino, president of MDC. 

“We will continue to deliver premier industrial buildings at BFTP as interest in South San Diego County near the border grows.”

BFTP is ideally located for business, adjacent to Brown Field Airport and positioned within a U.S. Department of Commerce Foreign Trade Zone which offers important tax incentives for companies.

Jeffrey Cole 

Its flexible design allows for industrial, R&D, office, manufacturing and corporate engineering buildings. The SR-905 freeway features a diamond interchange at the entrance to BFTP on Britannia Boulevard and has convenient access to the I-805 and I-5 Freeways, and the South Bay Expressway (SR 125 Toll Road). 

Building A and Building C feature 32-foot clear heights, 4,000 amps of 277/480 volt power, manufacturing sewer and water capacity, ESFR sprinklers, concrete truck courts, wide column spacing, and high dock door ratios designed for distribution users.

Bryce Aberg

"The Otay Mesa industrial submarket was the strongest in the county in the first quarter with over 770,000 square feet of positive absorption and a vacancy of historic low vacancy of 2.3 percent," said Irwin. 

 "Nearshoring to Mexico and a meteoric rise in rents in the adjacent Southern California industrial markets has attracted e-commerce, logistics, warehousing, and manufacturing to this submarket.”

 

 

 

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David Ebeling

Ebeling Communications

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david@ebelingcomm.com

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