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Developer Acquires 25 Acres in San Diego for $11.5M
Newport Beach-based Phelan Development acquired a 25-acre land parcel in San Diego from Sunwood for $11.5 million. Development plans include a six building, 400,000-square-foot industrial park on Otay Mesa Road at the SR-125 and SR 905 interchange.
Phelan Development’s Mike DeArmey says, “Phelan Development Company is excited to enter the Otay Mesa market with this purchase. Otay Mesa has become one of the most dynamic markets in San Diego County and we look forward to bringing Class A industrial product to the market for lease and sale.”
Buildings, ranging in size from 35,000 square feet to 135,000-square feet, will offer state-of-the-art features including ESFR sprinklers, 32-foot to 36-foot warehouse clearance, high dock door counts and energy efficient designs.
JLL’s Andy Irwin, Joe Anderson, Ryan Spradling and Greg Lewis represented the seller, and will market the buildings for lease or sale. The buyer was self-represented.
The land is expected to receive full entitlements in Q1 2021 with construction slated to commence in Q2 2021.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development
- ◦Sale/Acquisition


