Judd and Dillard Otay LP have paid $6.4 million for the property, which is located at SEC Otay Mesa and La Media. A spokesperson for the new owners says they do plan to develop the site, although they have not disclosed specific details about the project at this time.
Joe Smith of Burnham Real Estate Services ONCOR International acted on behalf of Judd and Dillard Otay LP. The seller, Otay Mesa International Plaza LLC, was also represented by Smith in the transaction.
Land prices continue to soar across the Southland, as the dearth of buildable lots keeps developers scrambling for vacant land here. Even with the slowdown in construction this year, available sites continue to be a scarce commodity.
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