Another Day, Another Otay Mesa Asset Sells for $159M

Murphy Development Company recently sold The Campus at San Diego Business Park, a 665,229-square-foot class-A industrial campus on 37 acres in the Otay Mesa submarket of San Diego. The asset sold for $158.5 million to LaSalle Investment Management.

The campus consists of three freestanding buildings located at 2001, 2055 and 2065 Sanyo Ave. and was 98 percent leased to eight tenants at the time of the sale.

Jeff Chiate, Jeffrey Cole, Bryce Aberg, Ed Hernandez, Mike Adey and Zach Harman of Cushman & Wakefield’s national industrial advisory group represented the seller in the transaction. The firm’s Brant Aberg, along with Andy Irwin and Joe Anderson of JLL provided leasing advisory.

“The Campus was a rare market opportunity for an investor to acquire a significant industrial portfolio of high quality, institutional quality assets with a strong tenant profile,” said Chiate. “The project is ideally positioned at a ‘main and main’ location in the Otay Mesa submarket, with excellent proximity to multiple freeways and logistical routes, the U.S./Mexico border points of entry, and several airports, providing unsurpassed regional, national and international access.”

2001 Sanyo was built in the late 1980s, 2055 Sanyo was built in the early 1990s and 2065 Sanyo was built most recently in 2020.