Murphy Development Company has started construction of the final two warehouses in its 52-acre Brown Field Technology Park in Otay Mesa as San Diego’s industrial real estate market continues to shine despite economic headwinds.
Built on speculation, the buildings will include a 102,099-square-foot building and a 101,145-square-foot building with completion targeted for the third quarter of 2023.
“The market’s still very tight and there are still tenants looking for space,” said Kaitlin Murphy Arduino, president of Murphy Development.
“What we’re doing with these two buildings, we can accommodate any kind of industrial user but we’re really focused on a manufacturing tenant,” Arduino said.
Linda Greenberg, principal of Lee & Associates, said Murphy will have no trouble leasing the space.
“Murphy’s advantage regardless of whether the market is good or we’re having a zombie apocalypse is he builds the best,” Greenberg said, referring to Murphy Development Chairman R. Michael Murphy. “You have better clear height, you have more dock doors, you have on-site trailer parking. They are high quality buildings and he’s got a great reputation down there (in Otay Mesa).”
With the completion of Brown Field Technology Park, Arduino said that Murphy Development will be back in the market looking for developable land and property it can redevelop.
Murphy Development’s two newest buildings have 32-foot clear heights, 4,000 amps of 277/480 volt power, manufacturing and sewer and water, ESFR sprinklers, concrete truck courts, wide column spacing, and high dock ratios designed for distribution tenants.
They can accommodate tenants who need from 30,000 square feet to 203,244 square feet.
Murphy recently completed two buildings totaling 229,680 square feet in Brown Field Technology Park and sold them to Hines.
“Demand for industrial space continues to remain strong in San Diego with South County seeing increased activity with its newer functional buildings and proximity to the border,” said Andy Irwin of JLL, which is representing Murphy Development in leasing the new buildings.
Murphy Development Company
President and Partner: Kaitlin Murphy Arduino
Headquarters: Liberty Station
Business: Real Estate Developer
Notable: Since its founding in 1984, the company has master planned and developed more than 10,000,000 square feet of projects throughout San Diego County