Otay Mesa Lease, Sale Reflect Strength Of San Diego Submarket
San Diego's Otay Mesa submarket, known as a strong market for industrial near the U.S.-Mexico border, is ending the year with a couple of large transactions.
Imperial Toy renewed its lease of a 258K SF industrial warehouse at 9043 Siempre Viva Road in Siempre Viva Business Park, marking the largest industrial lease by square footage in San Diego County for the year.
Imperial Toy has been in the building for several years, and the lease is valued at around $9M.
Colliers International San Diego Region's Chris Holder, Mark Lewkowitz and Shane Harmon represented the San Diego-based landlord, PNC Realty Investors. Hughes Marino's Travis Carter represented Imperial Toy.
In a separate deal, TH Real Estate, an affiliate of investment manager Nuveen, has purchased Frontera Industrial Business Park for an undisclosed amount.
The more than 500K SF industrial business park has seven buildings. The purchase included a nine-acre adjacent development parcel marked for a roughly 180K SF industrial building.
