LaSalle Acquires 600K-SF Otay Mesa Industrial Building

Cushman & Wakefield has advised an Ares Management Real Estate fund in the disposition of a 601,000-square-foot, multi-tenant industrial building in the Otay Mesa submarket of San Diego. LaSalle Investment Management purchased the asset located at 2020 Piper Ranch Rd., considered one the the region’s largest industrial buildings.

“2020 Piper Ranch Road is a 100% leased state-of-the-art distribution/warehouse facility that represents a critical mass of Class A industrial real estate on an abundant coastal site,” said Cushman & Wakefield’s Jeff Cole who represented the seller, along with the firm’s Jeff Chiate, Bryce Aberg, Rick Ellison, Mike Adey, Zach Harman and Brent Aberg. CBRE’s Bill Dolan and Rob Hixon provided local market leasing expertise.

Situated on over 31 acres with direct access to the US-Mexico border, the facility was constructed in 2003 and features varied bay sizes as well as above-standard loading capabilities, up to 32’ clear heights and concrete truck courts.