Murphy Development Starts Work On Last Building At Siempre Viva Business Park
Murphy Development recently broke ground on Building 17 of its Siempre Viva Business Park in Otay Mesa. The 79K SF structure at 8500 Kerns St. will complete the 2.1M SF business park.
The neighboring Building 18, the penultimate project at Siempre Viva, was completed in late 2016. The 122K SF building at 2600 Melksee St. is partially leased by Mainfreight USA.
Building 17 will feature a 28-foot clear height, 2,000 amps of 277/480 volt power, manufacturing sewer and water capacity, and wide column spacing and high dock door ratios designed for distribution users. Andy Irwin and Joe Anderson of JLL are leading the leasing effort for the building.
“Otay Mesa is experiencing industrial vacancy rates at historical lows,” Irwin said. “Since the start of 2015, we've seen the average asking rent for Otay Mesa industrial climb by 47%. Very little development has occurred in the market, leaving a robust tenant pool with few options.”
Murphy Development is also developing the Brown Field Technology Park in Otay Mesa, which will consist of 1M SF of Class-A industrial buildings. The company is currently installing utilities and completing the infrastructure on the site. Murphy plans to deliver its first building there in Q2 2019.
Also in Otay Mesa, Murphy Development plans to start construction in early 2019 on the third building at The Campus at San Diego Business Park, a 137K SF structure that will be delivered in six months.
