Otay Mesa Business Parks Sold For Undisclosed Amount

September 13, 2018

A Newport Beach investment firm has acquired 14 industrial buildings in six separate Otay Mesa projects covering more than 56 acres for an undisclosed amount of money.

Borderpoint Business Park Photo courtesy of Cushman & Wakefield

 

BKM Capital Partners bought the properties in a single transaction from Stockbridge Capital Group.

 

The portfolio sale included the 171,516 square-foot Borderline Business Park, the 102,875 square-foot Otay Distribution Center, the 111,644 square-foot San Diego International Center, the 97,961 square-foot Frontera Business Park, and the 66,184 square-foot Otay Crossing Business Park.

 

Jeff Chiate, Jeffrey Cole, Bryce Aberg, Ed Hernandez and Mike Adey in Cushman & Wakefield’s Capital Markets group represented Stockbridge.

 

Partnering with them were Ryan Spradling, Regan Tully and Brant Aberg of Cushman & Wakefield as local market experts.

 

BKM Capital represented itself.

 

“Otay Mesa is becoming a preferred regional distribution area into San Diego,” Chiate said. “The Otay Mesa submarket has recorded a staggering 1.1 million square feet of positive net absorption over the past five years, driving rental rates upward with tenant demand at a record high.”

 

Net absorption is a measure of how much space is newly occupied compared to how much is vacated.

 

The 14 buildings were 98 percent leased at the time of the sale with 44 tenants including Avery Products Corp., Suarez Brokerage and Trident Maritime Systems.

The portfolio represented a rare opportunity for an investor to acquire a critical mass of real estate in one of San Diego’s most sought-after submarkets,” Cole said.

Please reload

Featured Posts

Spotlight: Multi Tenant Distribution Warehouse Outlook

September 20, 2018

1/6
Please reload

Recent Posts
Please reload

Archive
Please reload

Follow Us
  • facebook
  • linkedin
BKM CAPITAL PARTNERS

 

Headquartered in Newport Beach, California, BKM Capital Partners is a fund manager specializing in the acquisition and improvement of value-add multi-tenant industrial properties in metro areas across the Western U.S. Combining a deep knowledge of this niche industrial product type with in-house capabilities including on-site property management, asset management, and structured financing, the firm continues to build on its proven track record, generating strong results with high levels of transparency and engagement for investors. 

Learn more about BKM Capital Partners »

BKM MANAGEMENT COMPANY

 

BKM Management Company manages a portfolio of 8.2 million square feet of multi-tenant industrial properties for BKM Capital Partner’s private and institutional investors. With a focus on “boots on the ground” execution at the property level, BKM has in-house capabilities for both property management and leasing. The teams at the property level are focused on ensuring the tenants thrive and that the properties managed in the most efficient way.

 

 

 

Learn more about BKM Management Company »

California // Colorado // Arizona // Washington // Nevada // Oregon

CONTACT US

Phone: 949.566.8800

  • linkedin
  • twitter
  • Facebook
  • instagram

© 2013-2019 BKM Capital Partners. BKM Capital Partners is a registered trademark. All Rights Reserved.