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California  + San Diego  + Industrial  | 
JLL Arranges $35M Construction Loan for Otay Mesa Industrial Project

Otay Mesa Industrial Project Lands $35M in Construction Financing

JLL Capital Markets has arranged $35 million in construction financing for the development of Phase II of Brown Field Technology Park, a pair of Class A industrial buildings in the Otay Mesa submarket of San Diego. JLL worked on behalf of Murphy Development Company to secure the non-recourse loan with a regional bank.

“Despite the recent turbulence in the lending market, we continue to see a large amount of interest from capital providers to finance high-quality industrial developments with experienced sponsors in markets with strong macro-economic indicators,” said Bryan Clark with JLL Capital Markets Debt Advisory team that represented the borrower along with Aldon Cole and Bradley Vansant.

Phase II at Brown Field Technology Park will feature two modern industrial buildings with clear heights between 32 and 34 feet, up to 41 dock-high doors, up to eight grade-level doors and is expected to be delivered in Q2 of 2023.

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JLL's Bryan ClarkMurphy Development Company

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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