LPC West in a joint venture with a real estate fund advised by Crow Holdings Capital has acquired 12 acres of vacant land in Otay Mesa with plans to build a pair of industrial buildings to form an industrial park.
The property is on Airway Road just north of the Otay Mesa Port of Entry at the U.S.-Mexico border.
The land was sold by AWL, LP and Harmony Grove Partners for an undisclosed price.
The deal was brokered by Greg Lewis, Andy Irwin, and Ryan Spradling of JLL.
The two buildings combined will be 195,000 square feet with two separate amenity areas totaling 2,000 square feet.
“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.
“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.”