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Distribution Center Fetches $11.9 Mil

SAN DIEGO-A partnership headed by Newport Beach-based Argus Realty has purchased a 195,540-sf distribution project in Otay Mesa for nearly $12 million, according to brokers familiar with the talks.

By Randyl J. Drummer | Updated on January 02, 2002

SAN DIEGO-The San Diego Distribution Center in Otay Mesa has sold in a deal valued at nearly $12 million, according to brokers familiar with the talks.

Otay Business Park LLC, with Koll Development as a managing partner, sold the 195,540-sf property at 7603 St. Andrews Ave. to ARI-San Diego Distribution Center — a partnership headed by Newport Beach-based Argus Realty — for $11.9 million. Koll originally developed the property in 1999. It was fully leased at the time of the sale.

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