 |
| 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.”
CONTACT:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
david@ebelingcomm.com
Member of the National Association of Real
Estate Editors (NAREE)
“PR Strategist for the Commercial Real
Estate Industry: I do what I love and love what I do.”
