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JLL Arranges Forward Sale of Otay Mesa Distribution Center
JLL Capital Markets recently arranged the forward sale of Runway Distribution Center, a newly built distribution facility totaling 199,997 square feet in Otay Mesa. JLL represented the seller, Lincoln Property Company and a real estate fund advised by Crow Holdings Capital, and procured the buyer, an Ares Management real estate fund.
Runway Distribution Center is located in the U.S./Mexico border-adjacent submarket of Otay Mesa, which has experienced tremendous growth over the past several years, says JLL. The property is less than a mile from the U.S./Mexico Port of Entry and 22 miles from San Diego International Airport. The nearby Otay Mesa Land Port of Entry is the largest commercial land port of entry, with more than $46 billion in annual trade.
The JLL Capital Markets Investment Sales and Advisory team was led by senior director Ryan Spradling, senior managing director Mark Detmer, managing director Ryan Sitov and associate Makenna Peter. The Markets team was led by Andy Irwin and Greg Lewis.
- ◦Sale/Acquisition
