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Wednesday, Jun 19, 2024

Otay Mesa Industrial Building Sold

The Trolley Industrial Center in Otay Mesa has been sold.

The purchase price was $13.6 million, according to CoStar, a real estate listing service.

The 105,465 square-foot building was bought by Washington Capital Management headquartered in Seattle.

The seller was a joint venture between Comstock Realty Partners and an undisclosed partner.

Representing the seller was an HFF investment advisory team that included Managing Director Andrew Briner, Senior Director Michael Roberts, and Senior Managing Director Bill Fishel and Michael Mossmer of Voit Real Estate Services.

Washington Capital Management represented itself.

Constructed in 1985 on a 5.1-acre site, the building was renovated in 2017.

The building features 10 dock-high loading doors, six grade-level doors, 24-foot minimum clear heights, 85-foot to175-foot truck court depths and low office finish.

Tenants include Leidos Innovations and Lockheed Martin.

“The San Diego industrial market continues to attract strong demand from institutional capital given its high barriers to entry and exceptional market fundamentals,” Briner said.

Real estate reporter Ray Huard may be reached at rhuard@sdbj.com or 858-277-8904.


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