Zurich Fund Buys Major Otay Mesa Industrial Property
Zurich Alternative Asset Management has picked up Three Piper Ranch, a two-building, 333,500 SF industrial property off Air Wing Road in Otay Mesa for $31.5M, or some $94/SF.
The property is fully leased to a slew of tenants, including CamelBak, ILG Corp, and Legacy Supply Chain Services. Zurich purchased the property from a fund managed by BlackRock.
CBRE's Louay Alsadek, Darla Longo, Barbara Emmons, Hunter Rowe and Andrew Taylor as well as Cushman & Wakefield's Regan Tully brokered the sale.