Kearny Real Estate Begins Industrial Development Adjacent to US/Mexico Border Crossing in San Diego

SAN DIEGO - April 3, 2023 - PRLog -- Kearny Real Estate Company has commenced grading the 26-acre final phase of the 311-acre Otay Crossings Commerce Park in Otay Mesa, CA for the development of four industrial buildings ranging in size from 45,000 square feet to 205,500 square feet.

The development site is located at the southernmost point of the industrial park at the intersection of Siempre Viva and Paseo Del La Fuente Roads immediately adjacent to the future U.S.-Mexico Point of Entry.  The four buildings will have direct access to the SR-11 freeway, which will connect to California State Routes 905 and 125 and other major Western U.S. truck routes.

"The Otay Mesa industrial market has experienced tremendous growth over recent years," said Jeff Givens, partner, and a member of Kearny's San Diego office.   "Market vacancies have hovered around 3% and a growing diversified base of users have migrated to the Otay market as the need for Class A industrial facilities has increased across San Diego County."

The buildings will provide divisible suites down to 25,000 square feet and will feature dock-high and grade level doors, 32–36-foot minimum clear heights, and truck courts with depths up to 180 feet. The $90 million final phase also will include a 3.6-acre trailer lot with 47 stalls serving as an "amenity" feature for users seeking additional area for storge of materials and/or trailers.   Delivery of the first building (45,100 square feet) is expected in the fourth quarter of this year with of the remaining buildings being delivered early 2024.

The San Diego/North Baja economy continues to evolve with an ever more diverse roster of industries relying on the cross-border infrastructure. The value of trade between San Diego and Mexico exceeds $4B per year.

"The border crossing adjacent location, along with its flexible space offerings will provide optimal locations for users who service the Otay market and/or onshoring operations in Mexico," Givens added.

Kearny is also the master developer of the 311-acre Otay Crossings Commerce Park, one of the largest contiguous master-planned industrial developments in San Diego County.  Kearny has developed and managed more than 12,500,000 square feet of industrial product in Southern California, including two state-of-the-art projects totaling 1.2 million square feet in Torrance, CA and Corona, CA, which will be completed in the next 30 days.

About Kearny Real Estate Company.
Kearny Real Estate Company (http://www.kearny.com) is a vertically integrated operating company specializing in the acquisition, development, asset management and property management of office, industrial and land assets in Southern California. It currently has $1.9 billion AUM.