The purchase brings Murphy Development's stake in the area to 119 acres. At build out, the Siempre Viva project will total two million sf. The La Jolla-based developer bought the remaining land from Egger/Odermatt partnership for just over $3 million.
The 350,000-sf first phase of the project includes buildings already occupied by Triboro Electric Co. and Samwha USA Inc. Three buildings are under construction by Lusardi Construction Co.
Murphy Development has been active in the area, completing the 150-acre Brown Field Business Park, the 80-acre San Diego Business Park and more than 1.5 million sf of projects for companies needing built-to-suits and leased buildings.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
