EastGroup Takes Down Viva Logistics Center in Mega-Buy

As the flurry of industrial activity continues throughout Southern California, another mega-deal recently hit the sold column. Viva Logistics Center II, a four-building complex totaling 547,000 square feet in the Otay Mesa area of San Diego, sold for $135 million. EastGroup Properties acquired the class-A institutional-quality asset.

Viva Logistics Center II features a combination of cross-dock and rear-load buildings with clear heights ranging from 24 to 32 feet, ample dock loading positions, wide column spacing, deep truck courts, low office finish and ample parking. The buildings were constructed between 2001 and 2003, although all were recently extensively renovated and rebranded.

Situated on 29 acres at 8690 Kerns St., 2660 Sarnen St. and 8863 and 9043 Siempre Viva Rd., Viva Logistics Center II is in the Otay Mesa Industrial submarket which, according to JLL research’s recent San Diego Industrial Insight report, had a record low vacancy of 3.9 percent at the end of third quarter. The submarket is adjacent to the U.S.-Mexico border and less than 2 miles from the Otay Mesa Land Port of Entry.

JLL marketed the property on behalf of the seller, Siempre Viva Industrial II LLC, an IDS Real Estate Group-affiliated entity. The JLL capital markets team representing the seller was led by Mark Detmer, Ryan Sitov, Ryan Spradling, Taylor Neiman and Makenna Peter, along with Andy Irwin and Greg Lewis with the JLL industrial brokerage team.