Otay Mesa: Up-and-Coming Industrial Market
Westcore Properties inked a deal recently to acquire the 104k SF 8917 Kerns St in Otay Mesa, a vacant industrial building. Westcore chairman Marc Brutten (atop the podium, as the winner of a jiu jitsu championship) tells us that the property’s going to benefit from the larger dynamics of San Diego’s industrial market. Rents are rising drastically in the supply constrained mid-county markets, which will push industrial users seeking bigger blocks of space to Otay Mesa.
Not only that, the newly completed 905 freeway (SR 905) will help spur tenant demand in Otay Mesa in the coming months, Marc adds. 8917 Kerns, less than a mile from the Otay Mesa Port of Entry, dates from 2006 and formerly housed Kojima America, which used the facility to manufacture back panels for plasma and LCD TVs. The seller was Dominion Investments (Kojima America). Cushman & Wakefield’s Ron Bement and Philip Roberts repped both Dominion Investments and Westcore Properties in the deal.