A rendering of the ultimate section of Otay Crossings Commerce Park. Picture courtesy of Kearny Actual Property Co.
Kearny Actual Property Co. is ready to interrupt floor on the 26-acre closing section of Otay Crossings Commerce Park, a 311-acre industrial property in Otay Mesa, Calif. The buildings being constructed will sit adjoining to a future U.S.-Mexico port of entry.
The corporate is within the means of grading the development website, which can host 4 buildings ranging in dimension from 45,000 sq. ft to 205,500 sq. ft. The primary constructing is predicted to complete 45,100 sq. ft and is because of be accomplished within the fourth quarter of 2023. All 4 buildings are scheduled for completion by early 2024. The whole price of the ultimate section shall be $90 million.
READ ALSO: CapRock’s Cautiously Optimistic Outlook for Industrial Growth
Buildings comprising the ultimate section are all designed to offer divisible suites all the way down to 25,000 sq. ft and could have dock-high and grade degree doorways, 32- to 36-foot minimal clear heights and truck courts with depths of as much as 180 ft. The property will even embrace a 3.6-acre trailer lot with 47 stalls, an amenity characteristic that may enable for storage of supplies and trailers.
The location pre-construction. Picture courtesy of Kearny Actual Property Co.
Situated on the southernmost level of the economic park, the brand new section shall be located on the intersection of Siempre Viva and Paseo Del La Fuente Roads, adjoining to the brand new border crossing. The buildings will supply direct entry to California State Route 11, which is underneath building. As soon as accomplished, SR-11 will hook up with California SR-905 and SR-125, in addition to to different main truck routes.
The evolving economies of the San Diego metro and northern Baja California are more and more extra various and extra reliant on cross-border infrastructure, with commerce between San Diego and Mexico exceeding $4 billion yearly, Kearny mentioned in a press release.
Jeff Givens, a companion in Kearny’s San Diego workplace, famous in ready remarks that the Otay Mesa industrial market has grown considerably lately, with market vacancies hovering round 3 p.c and industrial services changing into more and more sought-after within the area.
